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.
In the coming months, the international community will gather three times and on three different continents, to build a sustainable development agenda for generations to come.
The Netherlands last chaired the OECD Ministerial Council Meeting in 1991, a year when advanced economies accounted for nearly two thirds of global GDP and almost two billion people were living in extreme poverty. The world looks very different today. Emerging markets now account for more than half of global GDP and the number of people living in extreme poverty is down to one billion.
The Road Map for a Country-led Data Revolution was produced by the Informing a Data Revolution (IDR) project, which was launched by PARIS21 in 2014 and financed by a grant from the Bill & Melinda Gates Foundation. The project aims to help ensure the data revolution serves the post-2015 development agenda. Its focus is on National Statistical Systems (NSS) in developing countries. These are crucial to generating the data needed to promote development and reduce poverty and to monitor international development goals.
As well as this report, the IDR project has a number of other components, including the following:
- Country studies: A study of statistical systems in 27 countries and in-depth studies of 7 countries.
- Innovations Inventory: Inventories of innovative solutions that can help fill data gaps, reduce costs and improve efficiency.
- IDR Metabase: A database on the organisation, management and performance of national statistical systems to provide a baseline and a means for monitoring progress over time
For more on the methodology used to create this report, see Annex - Methodology.
The African Development Bank (AfDB), the OECD Development Centre and the United Nations Development Programme (UNDP) will publish their joint African Economic Outlook 2015, a yearly report containing projections, analyses and 54 country notes on macroeconomic, finance, trade and human development trends in Africa.
Joint meeting of the OECD and Center for Global Prosperity to be held on 15 June 2015 entitled "Creating enabling environments for mobilising private financial flows for sustainable development"
Migration is one of the morally, politically, and economically defining issues of the 21st century. Some 25,000 souls have died trying to cross the Mediterranean since 2000, including over more than 1,500 so far in 2015, and many thousands more have perished in the Gulf of Aden and in the South Pacific.
7th International Economic Forum on Latin America and the Caribbean / Innovation Policy in Panama / Assessing the Economic Contribution of Labour Migration - Costa Rica
United Nations Secretary-General Ban Ki-moon today called on OECD governments to ensure that a series of major summits this year result in a new era of sustainable development.