• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      CBN says cryptocurrency ban in interest of Nigerians

      February 25, 2021

      Companies-in-Action

      Zenith Bank in strong operational performance as profit rises 10.4% to N230.56bn in FY20

      February 25, 2021

      Companies

      United Capital posts strong numbers as earnings rise 50% to N12.87bn in 2020

      February 23, 2021

      Finance

      CIBN revives mentorship initiative for bank workers

      February 20, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Insurance Business

      Enterprise risk management surges amid pandemic, RIMS reports

      February 25, 2021

      WORLD BUSINESS & ECONOMY

      Hyundai to recall 82,000 electric cars over battery malfunction

      February 25, 2021

      Frontpage

      Global health insurance premiums fall amid pandemic, says new report

      February 24, 2021

      Frontpage

      Insurance M&A record highest growth in Africa, Middle East in 2020

      February 23, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      REA delivers 100kW hybrid solar mini grid to Edo community

      February 25, 2021

      Oil and Gas

      OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement

      February 25, 2021

      Frontpage

      Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention

      February 25, 2021

      Frontpage

      Nigeria to sell 170MW electricity capacity to Togo from Calabar plant

      February 24, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Coronation MB analysts project sharp rates rise after Nigeria recession exit

      February 25, 2021

      Analyst Insight

      How NITDA can further foster data protection compliance in Nigeria

      February 22, 2021

      Analyst Insight

      Do we need more start-ups in insurance?

      February 16, 2021

      Analyst Insight

      Naira, PMI’s and Inflation in focus

      February 16, 2021

Frontpage

World Bank urges Nigeria to focus on connective infrastructure to enhance access to markets

May 4, 2018794 views0 comments

The World Bank has urged policymakers in Nigeria to focus on investments that reinforce clusters and economies of scale and optimise the connectivity between rural areas and the major urban markets in order to reduce unemployment and poverty rates in Africa largest economy.

“Nigeria has a big home market, which is constrained by limited connective infrastructure, thereby reducing producers and firms’ ability to reach wider markets,” the bank noted.

The multilateral financial institution gave the recommendation in a report entitled “Nigeria Bi-annual Economic Update: Fragile Recovery,”, saying that policymakers at the federal and the state levels need to identify interventions that are best suited to realise development potential of sub-national regions and integrate domestic markets.

“Policymakers may want to focus on investments that reinforce clusters and economies of scale and optimise the connectivity between rural areas and the major urban markets.

Read Also:

  • Nigeria posts world’s best GDP growth ahead US, China, Japan
  • Spotify targets one billion listeners across 80 new global markets
  • Nigerian stock-fish dealers want access to foreign exchange
  • Spotify offers Nigerians wide access to digital contents, launches N900…
  • Zenith Bank in strong operational performance as profit rises 10.4% to…

“Policy makers must also address structural and land management issues in major urban nodes and along major growth corridors to remove or alleviate barriers that undermine the growth potential,” it said.

The World Bank said unemployment and poverty rates increased in Nigeria despite an exit from recession in 2017, adding that declines in the non-oil and non-agriculture sectors, continued as aggregate demand remained weak and private sector credit low.

“The rates of unemployment and underemployment increased in 2017 and poverty is estimated to have increased slightly. Gross domestic product (GDP) growth in 2018 is expected to hover just over 2 percent, largely oil sector-driven.”

Share on Facebook Tweet Email
TagsAfrica economy gross domestic product Nigeria World Bank
PreviousVivo Energy launches largest Africa-focused IPO on London Stock Exchange
NextNigeria crudes struggle against US oil in Europe despite high diesel cracks

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Lions’ Den 2021: An opportunity for promising Nigerian entrepreneurs
  • Nigeria bourse in red as selloffs in banking, consumer goods stocks see bears return  
  • African Alliance paid N967m in claims in first 40 days of 2021, MD reveals
  • REA delivers 100kW hybrid solar mini grid to Edo community
  • Unilever Nigeria to complete tea business separation by end of 2021

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

Nigeria’s bad bank receivables rise 80% as obligors default

Frontpage June 19, 2017

1
2

External reserves drop by $4.9bn in nine months

Frontpage December 6, 2019

3

World’s 500 richest people lose $35 billion from Trump turmoil, Mark Zuckerberg hardest hit

Frontpage May 18, 2017

4

Ghana central bank shaves 1.5% off key rate as inflation slows

Frontpage July 24, 2017

5

Stanbic IBTC pays N1.886bn MTN related regulatory fine as Nigeria’s central bank debits its account

Frontpage September 6, 2018

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.