Role of Nigeria in Global Business

Nigeria is a nation of great potential, with plenty of natural resources and great prospects. It has all the ingredients to step up and play an important role in the Global economy. The quality of governance and utilization of the resources will probably dictate the pace of growth of the economy in Nigeria. It is one of the largest economies in Sub Saharan Africa. In the past, It relied heavily on oil as the main source of foreign exchange earnings and revenue for government. After the banking crisis the growth profile changed towards agriculture, telecommunications, and services sector. Despite being oil-rich, Nigeria has struggled in the past with regulatory and governance needing much improvement to achieve its full potential on the global stage as an economic power. Since 2015, with new government in place, Nigeria has laid out a plan, to increase transparency, diversification of economy from oil, and improve fiscal management. Will it become an economic super Power?