The Effects of Global Financial Crisis on Nigerian Economy

THE EFFECTS OF GLOBAL FINANCIAL CRISIS ON NIGERIAN ECONOMY Abdul Adamu B. Sc. disdain Administration (ABU), M. Sc. Management in view (BUK) Graduate Assistant, segment of Business Administration, Nasarawa State University, Keffi Nasarawa State. Adamuabdulmumeen@yahoo.com uooba1009@gmail.com Abstract The world economy is facing the most(prenominal) severe pecuniary crisis since the Great Depression of the last century. The stake of orbicular recession has heightened significantly and volatility of commodity prices, which is the ground tackle of most developing countries like Nigeria, has increased further. If this situation continues to deteriorate, developing countries could be in great jeopardy. This study examined the influence of the spherical Financial Crisis on Nigerian economy. It was discovered that the financial crisis lead cause fall in commodity prices, decline in export, lower portfolio and FDI inflow, fall in equity market, decline in remittance from abroad etc. It was recommended that the federal government should be succeed up with intervention policies that will minimise these effects and stand out the economy and that business operator should learn to do things employ resources at their disposal to develop and expand at dirigible level to stem the tide of the crisis.

Introduction The global financial crisis began in the United States of America and the United Kingdom when the global credit market came to a standstill in July 2007 (Avgouleas, 2008). The crisis, create from raw material for a while, really started to show its effects in the midway of 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems. The real root of the current financial mess is in the US- the worlds largest Industrial-Military complex. With an estimated GDP of $14 trillion, the US contributes about 25% of world... If you want to get a full essay, order it on our website: Orderessay

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