Nigerian Economic Overview (contd.)
{"Image DocumentName": "Nigerian Economic Overview (contd.)", "Image ImageDescription": "But the macroeconomic picture is weakened by a dependency on oil ( 40 billion revenue per annum) which provides over 75% of the national budget and over 90% of export earnings. Sadly \u00be of government budget goes to recurrent expenditure leaving little for capital investment in infrastructure. In addition GDP growth is disproportionately based on oil export; un-modernised agriculture and trading; with manufacturing now contributing less than 4% of national output. De-industrialisation has hit quite hard in recent years (textile, tanneries, tyre industry, vehicle assembly etc.). The major constraint to manufacturing is power-national power generation is around 3,700 MW versus possible demand in excess of 20,000 MW (including suppressed demand)", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}