General Management - A Case Study

General Management Program; Nigeria - A Case Study

Case Study:

Africa is growing; Seven of the ten fastest growing economies in the world are in Africa, and the continent's largest economies are becoming less dependent on extractive commodities. The continent's rising middle class has demonstrated a taste for consumer goods and technological innovation and Africa's population - currently more than a billion people- is booming
and overwhelmingly young at a time when population in other regions are shrinking and ageing.

Nigeria, sub-Saharan Africa's largest economy epitomizes both the promise and the problems the continent faces in the 21st century. The country had failed to thrive for its first thirty years as an independent nation, despite having a developmental head start relative to countries
like China and India, as well as hundreds of billions of dollars in oil revenue.

Macroeconomic management and diversification

Nigeria’s growth was more volatile and tied to oil price swings; chronic exchange-rate and inflation issues and limited diversification made the economy vulnerable.

China/India achieved more stable, export-driven growth and better mobilization of domestic savings into investment.

Why India and China succeeded 

China: centralized political control with high implementation capacity, consistent industrial policy, huge infrastructure and urbanization push, export orientation and massive FDI-led manufacturing.

India: democratic stability, a strong civil service and legal system, English-language advantage, tech and services expansion after liberalization (1991) and significant private-sector dynamism.

What Nigeria could do 

Reduce dependence on oil: diversify into agriculture, manufacturing and services with targeted industrial policy and export promotion.

Strengthen institutions: improve rule of law, judicial efficiency, anti-corruption measures, and public financial management.

Build human capital: prioritize basic education, vocational training and primary healthcare.

Fix infrastructure bottlenecks: reliable power, good transport and ports, digital connectivity.

Improve security and reconcile regions: better conflict resolution, reduce militancy drivers (poverty, grievance).

Reform taxation and governance: build a broad-based tax system to deepen accountability and reduce rent-seeking.

Make business environment reforms to attract long-term FDI and enable SMEs to scale.

Caveats

Comparisons are simplifications: China and India are very different from each other too, and each faced unique challenges and advantages. Progress takes time and requires political will and sustained institutional reform. Nigeria’s large population and market also present huge opportunities if those constraints are addressed.

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