[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108942-en":3,"doc-seo-108942-105":31,"detail-sidebar-cat-0-en-105":93},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},108942,1374391974564,"Clementine","https://ap-avatar.wpscdn.com/avatar/14000253aa45c000a9e?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779874745381141002",8,"Research & Report","A COUNTRY PRIVATE SECTOR DIAGNOSTIC - Crowding in the Private Sector: Nigeria’s Path to Faster Job Creation and Structural Transformation - Executive Summary","Executive Summary outlines Nigeria’s private-sector growth challenge and opportunity for faster job creation and structural transformation. It highlights Nigeria’s resource endowments, large youth workforce, and market access through ECOWAS, while noting weak translation into sustained growth and shared prosperity. GDP has slowed, poverty and unemployment have risen, and regional disparities—especially between northern and southern zones—persist. Oil dependence, governance and global competition risks, and COVID-19 shocks are identified as drivers, with investment and job targets needed to reduce poverty and improve development outcomes.","A COUNTRY PRIVATE SECTOR DIAGNOSTIC  \nCREATING MARKETS IN NIGERIA  \nblisclosure Authorized u li iD sc os re Authorized Public Disclosure Authorized  \nCrowding in the Private Sector: Nigeria’s Path to Faster Job Creation and Structural Transformation  \nExecutive Summary  \nOctober 2020  \nAbout IFC  \nIFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, [visit www.ifc.org](visit www.ifc.org)  \n© International Finance Corporation 2020. All rights reserved.  \n2121 Pennsylvania Avenue, N.W.  \nWashington, D.C. 20433 [www.ifc.org](www.ifc.org)  \nThe material in this report was prepared in consultation with government officials and the private sector in Senegal and is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon.  \nThe findings, interpretations, views, and conclusions expressed herein are those of the authors and do not necessarily reflect the views of the Executive Directors of the International Finance Corporation or of the International Bank for Reconstruction and Development (the World Bank) or the governments they represent.  \nThis publication uses U.S. spelling. All mentions of dollars refer to U.S. dollars, unless otherwise indicated.  \nAll data are current as of February 2020  \nCover Photos: Yosef Hadar, Arne Hoel / World Bank, LAPO, [Santos Akhilele Aburime / Shutterstock.com](Santos Akhilele Aburime / Shutterstock.com)  \nEXECUTIVE SUMMARY  \nGiven its resource endowments and market opportunities, Nigeria is uniquely placed for strong economic growth. Nigeria is rich in agricultural and mineral resources. Its population of about 200 million people presents a huge market—the largest in Africa—for domestic production. In addition, a large segment of Nigeria’s labor force is young and entrepreneurial—5.3 million people entered the labor force in 2018 alone. Moreover, market access to other member countries of the Economic Community of West African States (ECOWAS) and the wider African region offers opportunities to Nigeria’s private enterprises.  \nHowever, Nigeria’s resource endowments and opportunities have not translated into sustained economic growth and shared prosperity for its citizens. Gross domestic product (GDP) growth, which averaged 8.4 percent per year in the first decade of the 2000s, has slowed considerably, to around 2 percent in 2018, well below the average for many of Nigeria’s peers. Poverty has increased, with nearly half of the population living in extreme poverty (that is, below US$1.90 per day). Nigeria now hosts the largest number of poor people in the world—surpassing India in 2018. The rate of unemployment has also risen, reaching 23 percent in 2018. Likewise, underemployment of labor—at around 20 percent—is rising. Indeed, Nigeria’s economic performance and development outcomes are diverging from regional averages and on its current trajectory the country is expected to further lag.  \nCompounding Nigeria’s challenges is the strong regional disparity in development outcomes: poverty rates, and human capital indicators—such as adult literacy, primary school enrollment, and health","cbCaiiKWZWih8aKy","https://ap.wps.com/l/cbCaiiKWZWih8aKy","pdf",3035343,5,1,14,"English","en",105,"# Executive Summary\n## Nigeria’s Growth Potential and Market Opportunities\n## Economic Slowing, Poverty, and Labor Challenges\n## Regional Disparities in Development Outcomes\n## Risks from Oil Dependence and External Shocks","[{\"question\":\"What key factors make Nigeria well-positioned for economic growth?\",\"answer\":\"Nigeria has strong resource endowments, agricultural and mineral wealth, a large consumer market, and a young, entrepreneurial labor force. Market access through ECOWAS and wider African regions also supports private enterprise opportunities.\"},{\"question\":\"Why has Nigeria not achieved sustained growth and shared prosperity?\",\"answer\":\"GDP growth has slowed significantly, poverty has increased, unemployment and underemployment have risen, and development outcomes increasingly diverge from regional averages. Persistent regional disparities also worsen overall progress.\"},{\"question\":\"How does oil dependence affect Nigeria’s economic performance?\",\"answer\":\"Oil and gas dominate fiscal revenues and exports, exposing growth to oil-price boom-bust cycles that create uncertainty and deter investment. COVID-19 intensifies recession risks after the 2014–16 oil-price crash, compounding revenue shortfalls and debt buildup.\"}]","A COUNTRY PRIVATE SECTOR DIAGNOSTIC - Crowding in the Private Sector: Nigeria’s Path to Faster Job Creation and Structural Transformation - Executive Summary | PDF",1784475209,35,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":88,"head_meta":90,"extra_data":92,"updated_unix":29},"a-country-private-sector-diagnostic-crowding-in-the-private-sector-nigerias-path-to-faster-job-creation-and-structural-transformation-executive-summary","",{"@graph":37,"@context":87},[38,55,70],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":54},"https://docshare.wps.com/document/a-country-private-sector-diagnostic-crowding-in-the-private-sector-nigerias-path-to-faster-job-creation-and-structural-transformation-executive-summary/108942/",4,{"url":53,"name":13,"@type":56,"author":57,"headline":13,"publisher":59,"fileFormat":62,"inLanguage":24,"description":14,"dateModified":63,"datePublished":64,"encodingFormat":62,"isAccessibleForFree":65,"interactionStatistic":66},"DigitalDocument",{"name":9,"@type":58},"Person",{"url":42,"name":60,"@type":61},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":67,"interactionType":68,"userInteractionCount":20},"InteractionCounter",{"@type":69},"ViewAction",{"@type":71,"mainEntity":72},"FAQPage",[73,79,83],{"name":74,"@type":75,"acceptedAnswer":76},"What key factors make Nigeria well-positioned for economic growth?","Question",{"text":77,"@type":78},"Nigeria has strong resource endowments, agricultural and mineral wealth, a large consumer market, and a young, entrepreneurial labor force. Market access through ECOWAS and wider African regions also supports private enterprise opportunities.","Answer",{"name":80,"@type":75,"acceptedAnswer":81},"Why has Nigeria not achieved sustained growth and shared prosperity?",{"text":82,"@type":78},"GDP growth has slowed significantly, poverty has increased, unemployment and underemployment have risen, and development outcomes increasingly diverge from regional averages. Persistent regional disparities also worsen overall progress.",{"name":84,"@type":75,"acceptedAnswer":85},"How does oil dependence affect Nigeria’s economic performance?",{"text":86,"@type":78},"Oil and gas dominate fiscal revenues and exports, exposing growth to oil-price boom-bust cycles that create uncertainty and deter investment. COVID-19 intensifies recession risks after the 2014–16 oil-price crash, compounding revenue shortfalls and debt buildup.","https://schema.org",{"og:url":53,"og:type":89,"og:title":13,"og:site_name":60,"og:description":14},"article",{"robots":91,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":94},[95,99,103,107,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":96,"show_sort_weight":97,"slug":98},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":100,"show_sort_weight":101,"slug":102},"Literature",80,"literature",{"id":54,"doc_module":4,"doc_module_name":47,"category_name":104,"show_sort_weight":105,"slug":106},"Exam",70,"exam",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":137,"doc_module":4,"doc_module_name":47,"category_name":138,"show_sort_weight":20,"slug":139},19,"General","general"]