Nigeria's Economic Woes: Infrastructure Gaps, Human Capital Deficits Undermine Naira's Value
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Nigeria has a $3 trillion infrastructure deficit that cannot be closed with current revenues. This limits economic growth and productivity.
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The education system is failing, with over 20 million children out of school. This produces an underclass lacking skills needed for economic growth.
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There are over 200 official and unofficial taxes, complex export regulations, and an overvalued exchange rate that stifles local production.
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Pervasive corruption ranked Nigeria 150th out of 180 on the Global Corruption Index. This induces capital flight.
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Healthcare, security, and other public services are extremely deficient. Military spending prioritizes territorial defense over economic infrastructure.