INTRODUCTION
Nigeria’s economic for the past three decades is facing a major challenge. In 1987 Nigeria’s Gross Domestic Product (GDP) growth was three per-cent and 1999/2000 the GDP growth to six per-cent. During the high prices of oil in Obasanjo’s administration, Nigeria’s foreign reserves rose from $ 2 billion in 1999 to $ 43 billion before he left office.
In early 2007, the government introduced a new industrial development policy called the cluster concept. For example, if the newly introduced cluster concept is going to open the economic development of Nigeria, for it not to suffer the fate of its predecessor’s immediate steps are to being taken by governments of various levels to facilitate its implementation. Also the government must diversify the economy from oil export sector into rapid production/manufacture sector. Nigeria need to build a solid and dynamic economy in order to fully improved development and standard of living, also the economic development of our geographical areas can be effectively stimulated by building the technical capacity of the work force through quality education.
If this article made sense to you, kindly post a comment below. I appreciate your kind contribution to making this site of immense assistance to all geographers and environmentalists.
Nigeria’s economic for the past three decades is facing a major challenge. In 1987 Nigeria’s Gross Domestic Product (GDP) growth was three per-cent and 1999/2000 the GDP growth to six per-cent. During the high prices of oil in Obasanjo’s administration, Nigeria’s foreign reserves rose from $ 2 billion in 1999 to $ 43 billion before he left office.
In early 2007, the government introduced a new industrial development policy called the cluster concept. For example, if the newly introduced cluster concept is going to open the economic development of Nigeria, for it not to suffer the fate of its predecessor’s immediate steps are to being taken by governments of various levels to facilitate its implementation. Also the government must diversify the economy from oil export sector into rapid production/manufacture sector. Nigeria need to build a solid and dynamic economy in order to fully improved development and standard of living, also the economic development of our geographical areas can be effectively stimulated by building the technical capacity of the work force through quality education.
If this article made sense to you, kindly post a comment below. I appreciate your kind contribution to making this site of immense assistance to all geographers and environmentalists.
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