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Government of Nigeria
The Heart of Africa
Government
The Federal Republic of Nigeria consists of thirty-six states, and the administrative headquarters and capital city is Abuja located in the Federal Capital Territory, which is geographically situated in the middle of the country. Effective participation in governance by all adults is assured through the sharing of power, revenue and responsibilities between the three tiers of government, i.e. the Federal Government, the State Governments and the various Local/Municipal Councils of the federation
Economy
With a population of over 100 million people, Nigeria is obviously the largest market in sub-Saharan Africa with reasonably skilled and potential manpower for the efficient and effective management of investment projects within the country. It is well connected by a wide network of motorable all-season roads, railway tracks, inland waterways, maritime and air trans-portation. Nigeria's economy could be aptly described as most promising. It is a mixed economy and accommodates all comers, individuals, corporate organisations and government agencies, to invest in almost all range of economic activities. Since 1995, the Government has introduced some bold economic measures which have had a salutary effect on the economy by halting the declining growth in the productive sectors and putting a stop to galloping inflation; they have reduced the debt burden, stabilised the exchange rate of the naira and corrected the balance of payments disequilibrium. In the 1995 and 1996 budgets, Government put in place some fiscal measures which addressed the exchange rate regime and the capital flight issue which hitherto inhibited project planning and execution. The policy of expanded production through guided deregulation paid off in 1996 when the economy recorded a real growth of 3.2% of GDP. The rate of inflation declined appreciably from the high
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