The external resource factor in Nigerian economic development

Examines statistics of the balance of payments and of domestic capital formation and attempts to assess the contribution of the external resource element in Nigerian economic development. Pays particular attention to the role of the petroleum industry in financing Nigeria’s import surplus and to the size of the import surplus in relation to the growth of both the GDB and GNP. The servicing requirements of external debt commitments are examined in relation to the productivity of capital assets – especially the productivity of industrial investment which in recent years has been directed towards import substitution. Notes, tables, appendices.

Title: The external resource factor in Nigerian economic development
Author: Langley, Kathleen M.
Year: 1968
Periodical: The Nigerian Journal of Economic and Social Studies
Volume: 10
Issue: 2
Pages: 155-181
Language: English
Geographic term: Nigeria
Abstract: Examines statistics of the balance of payments and of domestic capital formation and attempts to assess the contribution of the external resource element in Nigerian economic development. Pays particular attention to the role of the petroleum industry in financing Nigeria’s import surplus and to the size of the import surplus in relation to the growth of both the GDB and GNP. The servicing requirements of external debt commitments are examined in relation to the productivity of capital assets – especially the productivity of industrial investment which in recent years has been directed towards import substitution. Notes, tables, appendices.