The story of Nigeria’s Economic Boom
|December 21, 2012||Posted by Vishal under Nigeria Business Visa, Nigeria TWP Visa, Nigeria Visa Application||
Economic liberalism, and in particular political liberalism, has increasingly become a universal norm today. Yet, this should hardly comes as much of a surprise, especially when dealing with some of the most highly populated countries in the world today; given logical continuation of sequences related to adoption of economic policies inspired by free market. In its turn, these are logically derived through liberal philosophy, which lays its primary emphasis on an individual and his indisputable right of free choice. Therefore, when travelling through the country on a Nigeria visa or perhaps a Nigeria business visa if that choice is more preferable, it will not be long before you quickly realise that this is the actual story of Nigeria’s economic boom.
Nigeria is resolutely undergoing the transitional process of urgently catching up with substantial ground lost by her in a desperate quest for rapid development, particularly over the past 20 years. Even so, Nigeria needs to achieve this marvel well within the framework of the world economy; overwhelmingly characterized by certain specific features, some of which mainly include:
- Technological advances are primed to persist at an ever faster rate, and are more liable to behave in an exponential form rather than an arithmetical opposite.
- Compared to equipment investments, investments in the more elaborate arenas of science and technology will gain higher significance; the same as human capital investments are prone to become major capital formation elements.
- Information technology or IT is targeted to function as the prime engine for economic growth. Just as steel was displaced by oil in the last 60s and 70s, IT is now geared to displace oil, to function as the prime engine for future economic growth of Nigeria.
- Consumption of fundamental raw materials and energy for each manufactured output unit is expected to continue its decline in consequence of technological advances and other factors associated with the environment.
- Increasingly, production will be based more on knowledge; with a constantly rising percentage of this knowledge going into private ownership and being protected by several adept instruments governing the consequential proprietary rights of intellectual property.
- Increasing advancements in IT, especially in the sectors related to telecommunications, will help to speedup the overall globalisation pace of trade and finance.
- Environmental management, including protection and conservation of natural resources, will become an increasingly man-driven process, instead of being government-controlled.
First thing, a UK citizen travelling on a Nigeria visa will notice, are the selfless efforts made by the country to revive and redraw her economy; within the contextual term of a globalisation dominated world economy. Though the task is outwardly monumental; with the right approach, the outcome is however expected to be not so far coming.
This post was written by Vishal Mavadia, Business Director Visa Services London.