With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.
Since the return to democracy in 1999, Nigeria has embarked upon an ambitious reform programme towards greater economic openness and liberalisation. As a result, gross domestic product growth picked up consistently, never going below 5% since 2003. Nigeria has become a top recipient of foreign direct investment in Africa, with inflows having surpassed those to South Africa since 2009. The federal government’s Transformation Agenda recognises private sector development as the main engine for economic growth and includes bold investment reforms. Growth has however not yet been translated into inclusive development and the investment climate still suffers from severe challenges.
This Investment Policy Review examines Nigeria’s investment policies in light of the OECD Policy Framework for Investment (PFI), a tool to mobilise investment in support of economic growth and sustainable development. It provides an assessment and policy recommendations on different areas of the PFI: investment policy; investment promotion and facilitation; trade policy; infrastructure investment; competition; corporate governance and financial sector development. It also includes a special chapter analysing the PFI in Lagos State. The Review follows on the request addressed by the Minister of Industry, Trade and Investment of Nigeria to the OECD Secretary-General in December 2011. It has been prepared in close co-operation with the Federal Government of Nigeria and Lagos State Government.
On 28-29 March 2015, Africa’s most populous country and number 1 economy organised peaceful elections, which were internationally recognised as “free and fair” and led to the first democratic transition in Nigeria’s history. The election results seem to show that the role of ethnic, religious and geographic factors is gradually shrinking. Beyond Nigeria, West Africa is a winner too.
These ready-made tables and charts provide for snapshot of aid (Official Development Assistance) for all DAC Members as well as recipient countries and territories. Summary reports by regions (Africa, America, Asia, Europe, Oceania) and the world are also available.
By participating more effectively in the global production of goods and services, Africa can transform its economy and achieve a development breakthrough, according to the latest African Economic Outlook, released at the African Development Bank Group’s Annual Meetings.
The charts show for each of the following countries and territories, and for the years 2009-2011: net ODA receipts, top ten donors of gross ODA, population and GNI per capita and bilateral ODA by sector.
The Aid for Trade at a Glance 2009: Maintaining Momentum report presents the results of the second monitoring exercise of the Aid for Trade Initiative and documents its success so far.
Aid for Trade at a Glance 2007: The OECD Creditor Reporting System (CRS) database is used to track ODA flows from Development Assistance Committee (DAC) member countries.