[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108146-en":3,"doc-seo-108146-105":30,"detail-sidebar-cat-0-en-105":92},{"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":13,"seo_description":14,"update_tm":28,"read_time":29},108146,1099513958762,"Logic","https://ap-avatar.wpscdn.com/avatar/1000023916a998db790?x-image-process=image/resize,m_fixed,w_180,h_180&k=1784791008015729253",8,"Research & Report","Nigeria Country Economic Memorandum - Charting a New Course - Synthesis Report","Nigeria Country Economic Memorandum with associated technical notes synthesizes major trends and drivers of growth and job creation in Nigeria from 2000 to 2021. It outlines the report’s key challenges and opportunities to accelerate inclusive growth, drawing together findings from recent analyses across selected areas. It also delivers actionable policy options aimed at sustaining a private sector–supported development path and informing policymakers, business leaders, market participants, and analysts.","Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized  \nNigeria  \nCountry Economic Memorandum  \nCharting a New Course  \nNigeria Country Economic Memorandum:  \nCharting a New Course  \nSynthesis Report  \nDecember 2022  \nReport No. AUS0002837  \n© 2022 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW  \nWashington DC 20433 Telephone: 202-473-1000  \n[Internet: www.worldbank.org](Internet: www.worldbank.org)  \nThis work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent.  \nThe World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.  \nRights and Permissions  \nThe material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; [e-mail: pubrights@worldbank.org](e-mail: pubrights@worldbank.org).  \nCover credits: \"Contact\" by Jimmy Nwanne. This painting refers to man’s curiosity and inquiry about the source of life. It speaks about the possibility of life beyond the walls of our world and planet. If we have life outside our world, how do we access this dimension in order to communicate? To become, we have to enter different states of consciousness.  \nAcknowledgements  \nThe Nigeria Country Economic Memorandum (CEM) and the associated technical notes describe the main trendsand drivers of growth and job creation in Nigeria covering the years 2000 to 2021; outline the key challenges and opportunities to accelerate growth and job creation, synthesizing the findings from recent analyses, and including challenges and opportunities in selected areas; and present actionable policy options to sustain an inclusive growth path. It is intended for a wide audience, including policy makers, business leaders, financial market participants, and the community of analysts and professionals engaged in Nigeria’s evolving economy.  \nThe report was prepared by a World Bank team led by Miguel Angel Saldarriaga (Economist), Marco Hernandez (former Lead Economist and now Practice Manager), and Jakob Engel (Senior Economist) . The team included: Samer Matta, Nyda Mukhtar, Gloria Joseph-Raji, Joseph Ogebe, Lilian Okpeku, Guillermo Palacios, Elwyn Davies, Besart Avdiu, and Masami Kojima. The extended team includes Yadviga Semikolenova, Arsh Sharma, Anshul Rana (Power), Jakob Engel, Aleksander Stojanov, Jonathan Lain, Bob Rijkers, Erhan Artuc, Guido Porto, Guillermo Falcone, Federico Ganz, Mohammed Isa Shuaibu (Trade and Trade Restrictions), Samik Adhikari, Tekabe Ayalew Belay, Olumide Olaolu Okunola, Aisha Garba Mohammed, Fatimah Abubakar Mustapha, Julia Vaillant, Amy Elizabeth Copley (Demographic time bomb), Rajul Awasthi, Elijah Kimani (Domestic Revenue Mobilization), Ryan Chia Kuo, Sara Nyman, Rodrigo Barajas, Bertine Kamphuis (Competition), Christina Jenq, Jonathan Lain, Tara Vishwanath (Jobs), Elliot Mghenyi and Chidozie Anyiro (Agriculture) .  \nMary Akerele assisted the team. Budy Wirasmo aided in the design. External and media relations are managed by Mansir Nasir.  \nThe team is grateful to Marcello Arrigo, Peter Kjaer Milne, Yue Man Lee, and Alex Sienaert for their valuable contributions to this report.  \nThe Nig","cbCaiudk3m5jCOX7","https://ap.wps.com/l/cbCaiudk3m5jCOX7","pdf",2349654,5,1,72,"English","en",105,"# Acknowledgements\n# Executive Summary\n# Setting the stage: Nigeria’s potential and the need to unlock private sector-led growth\n## To provide opportunities for its growing population, Nigeria’s economy has to grow faster and create more jobs\n## Unlocking private investment is the only way to create more and better-quality jobs in a sustainable manner\n# Nigeria’s growth record since the return of democracy: A tale of two development paths\n## Fast growth in a context of favorable global conditions and improved macroeconomic foundations (2001–2010)\n## Moderate growth in a context of favorable global conditions but weaker macroeconomic foundations (2011–2014)\n## Low growth in a context of unfavorable global conditions and worsened macroeconomic foundations (2015–2021)\n# What can we learn from Nigeria’s growth record: Seven messages\n## Message 1: The deterioration of the macroeconomic foundations has eroded growth potential\n## Message 2: The sectoral growth performance across different periods is directly linked to the pace of reforms\n## Message 3: Nigeria lacks large and mid-sized formal productive firms","[{\"question\":\"What time period does the Nigeria Country Economic Memorandum cover?\",\"answer\":\"It covers the period from 2000 to 2021, synthesizing growth and job-creation trends over those years.\"},{\"question\":\"Who is the report intended to serve?\",\"answer\":\"The memorandum is intended for a wide audience, including policymakers, business leaders, financial market participants, and analysts working on Nigeria’s evolving economy.\"},{\"question\":\"What kinds of outputs does the report provide?\",\"answer\":\"It presents key challenges and opportunities, synthesizes findings from recent analyses, and offers actionable policy options to sustain an inclusive growth 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