NIGERIA'S ECONOMY AS A CASE OF STUDY
The main stay of Nigeria economy before the advent of oil/petroleum was agriculture. Oil-RICH Nigeria has been hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management: Nigeria's former military rulers failed to diversify the economy away from its over dependence on the capital-intensive oil sector which provides 95% of foreign exchange earnings and about 80% of budgetary revenues.
Following the debt-relief from the Paris club, Nigeria have started making reforms aimed at economic development system, removal of subsidies, and resolving regional disputes over the distributions of earnings from the oil industry Nigeria has the potential to be the fastest growing economy and ranked 13th among the world's top 20 economies from now to 2050, according to some reports.
Meanwhile, Nigeria's ICT sector is the largest (and still growing) in Africa with over $12bn of investment and 62% of the African market. In terms of labour force, the young adult based with 70% of the working population serving the agricultural sector, 10% serving the industrial sector and 20% serving the services sector
