Guest lecture by Mr.JOHNSON Olawale David

Mr. JOHNSON Olawale David, Department of Economics, Covenant University, Nigeria, in his talk to SDMIMD students said that Nigeria has proven that though she was seen as corrupt, mismanaged, and seemingly hopeless, she can rise above the negativism to become the largest economy in Africa with over $574 billion in Gross Domestic Product. With over 80% of its fiscal revenue from Crude Oil, the recent fall in oil price means that the largest economy in Africa could be in dire strait. Haven maintained a growth rate of about 6%, many have argued that Nigeria's growth has not carried Nigerians along as inequality of wealth distribution is extreme. With similarities in terms of large population and economic structure, Nigeria and India have grown to be great trading partners. He affirms that India is Nigeria's largest trading partner importing the largest amount of Nigeria's crude oil. He emphasized that, as developing economies with the hope of leapfrogging the stages of development, the two countries must create jobs, strengthen their macroeconomic framework, improve their investment climate, complete structural reforms and so on.