Article Type

Article

Description

The theme which I wish to explore is that further improvement, indeed maintenance, of the general living standards of Nigerians which will require a rapid growth of the non-oil economy must grow not only to compensate for the decline in oil earnings but also to effect the desired increase in incomes, foreign exchange earnings and public revenue. The domination of oil income in the balance of payments and federal government revenue at present is such that for one percent decrease in oil income, the non-oil component must rise by roughly ten percent to prevent exports or government revenue from declining. There is a general recognition of this problem all around but what are the means available to accomplish this objective. In my personal view, a reorientation of Nigeria’s industrial policies is certainly an important element. Why is such reorientation necessary?

Publication Source

Nigerian Enterprise: for decision makers

Publication Date

4-1985

Pages

9-12

Notes

IH0062

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