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Article
Globalisation, Economic Restructuring and Competitiveness of the Nigerian Economy: A Focus on the Financial Sector.
Journal of International Academic Research (2011)
  • ANTHONY ORJI
  • Peter Nwachukwu Mba
  • Emeka Gabriel Ani
Abstract

With a population of over 150 million people, Nigeria is the most populous country in Africa, with a GDP second only to South Africa. Yet, following several years of military rule and poor economic management, Nigeria experienced a prolonged period of economic stagnation, rising poverty levels and the decline of public institutions. In view of the afore-mentioned anomalies that characterised the socio- economic and political existence of this nation, before the comprehensive reform programme during the second term of Obasanjo administration, one begins to wonder where the nation is heading to despite several efforts that have been made to enlist Nigeria into the global scheme of things as popularised by the concept of globalisation. This paper therefore focuses on the issues of globalisation as it affect the Nigeria economic restructuring programmes from 2004-2010. Also, the issues of competitiveness are analysed with a focus on the financial sector. We conclude and recommend that Nigeria should completely restructure her financial sector, enhance corporate governance culture, diversify her productive base and transform her political economy in order to frontally confront contemporary global challenges.

Keywords
  • Globalisation,
  • Economic Restructuring,
  • Competitiveness,
  • Financial Sector
Publication Date
Summer December 31, 2011
Citation Information
ANTHONY ORJI, Peter Nwachukwu Mba and Emeka Gabriel Ani. "Globalisation, Economic Restructuring and Competitiveness of the Nigerian Economy: A Focus on the Financial Sector." Journal of International Academic Research Vol. 11 Iss. 3 (2011)
Available at: http://works.bepress.com/anthony_orji/3/