Factors affecting Nigerian economy and the benefits of economic growth

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The major factors hurting Nigeria economy include; Inflation, unemployment, government policy, monetary policies, inadequate health facilities, insecurity, ineffective leadership, corruption and over reliance on oil.

These factors have significantly contributed to the economy economic problems in Nigeria today and solutions lie in good leadership, accountability, education, paying taxes, employment, and security.

The benefits of economic growth

The economic growth in the country will only lead to economic development, and would also result in certain benefits, including lower unemployment, higher average income, improved public service, investment, increased research and development, improved public facilities and lower government borrowing.

Further more, people would be afforded great opportunities to work in the manufacturing, agricultural and other sectors of the economy.

Considering the different economic problem in nigeria, the unfortunate thing is that all of them are interconnected and interdependent if there will be real change, every one must play their parts our future is in our hands.

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