Reforming Nigeria's oil sector will have mixed success
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Significance Revelations by an investigative commission that the Nigerian National Petroleum Corporation (NNPC) withheld 25 billion dollars from the federal government between 2011 and 2015 will add urgency to the proceedings. Impacts Concessional loans from the World Bank, African Development Bank and China Exim Bank may fund Nigeria's 'stimulus' budget. Low oil prices will constrain economic growth -- expected to be 4.6%, well below the 6.8% average during the decade ending 2014. The central bank's decision to raise its benchmark interest rate to 12% (a full percentage point increase) will dampen consumer demand.
2015 ◽
Vol 2
(3)
◽
pp. 1-23
2019 ◽
Vol 6
(4)
◽
pp. 577-603
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2008 ◽
pp. 201-226
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