Nigerias Business Environment Essay Example | Topics and Well Written Essays - 1250 words

Nigerias Business Environment - Essay Example Misrule compounded by corruption and uncertainty are wrecking chances for development in Nigeria (Iba, Louis; 2009). The image of Nigeria is one of poverty and anarchy. This is largely due to unemployment and political uncertainty. Except for oil and gas the country is known for little else although natural resources are in abundance. Population below poverty line is shown as 70%. The country keeps showing results and returning to shambles in turns. Nigeria has not shown consistency in economical reforms although it has made attempts to project oil and other natural resources for potential foreign investments (Doing Business in Nigeria, 2007). There is inconsistency in the business environment. It has not shown any progress in clearing IMF debts. IMF had instructed stringent measures to revive economy that included reforms in the banking sector (Nigeria Economy 2010). Well-informed Nigerians rue the years of instability since the 1950s when oil was discovered in Nigeria. However, people are poor and spend more time on earning for their daily necessities. Revenues from oil are spent on balancing for various loans taken for infrastructure. Talking of infrastructure, the country's aspirations for establishing railway network has not resulted in any concrete action. This has given rise to facilitating transportation by roads. However, majority of the roadways are in poor shape resulting in traffic snarls. The civilian government of the day is doing all it can to project the country as a safe and conducive destination for business. However, their clarion call is not yielding the desired effects. Western powers are cool to investing in a nation where political status is still seen as unstable (Nigeria Economy 2010). Western economies have shied away from directly doing business in Nigeria leaving it to Asians. Asians have been more forthcoming from the 1970s and enjoyed the fruits of doing business in Nigeria. Japan has showed some interest in doing business in Nigeria (Bala, Dr Julius J; 2003). Today, Nigeria is a progressive economy. However, the country is experiencing setbacks so it is unable to meet projected economical targets. The country needs to act on its initiatives for economical turnaround with gender-based schemes to attract greater foreign investment and participation (Nwoye, May; 2007). In spite of the political and economic status, Nigeria has a vibrant and innovative population. It is this effervescent attitude that provides the best hope for appropriate business environment in a country torn by decades of mistrust among its two main communities Islamic and Christianity. Business Prospects in Nigeria When President Olusegun Obasanjo was sworn in on 29 May 1999 his reformative measures instilled confidence and attracted foreign investments. Obasanjo quietly

Reagan Revolution Through President Obama Essay

Reagan Revolution Through President Obama - Essay Example (Council of economic advisors, 2010, p.50) Even before he took office a change could be seen in the perspective of the whites regarding African-Americans. Research has shown that 22 percent of Americans view Obama as an exemplary figure when they think of African-Americans. If Obama administration continues to be successful then he can activate positive feelings in majority of people regarding the blacks (The Obama effect†¦., 2009). Overturning the Reagan Revolution Barack Obama in his inaugural speech pronounced that he would use old and traditional values to effect progressive changes. His approach towards politics would carry a sense of mature collective responsibility instead of the juvenile approach of individualism. He would uphold the democratic role of the US government and would continue to maintain the leadership position of the country in the global front. Obama has defended the traditional values like â€Å"honesty and hard work, courage and fair play, tolerance and curiosity, loyalty and patriotism†. With this he has broken the established values of Reagan era. Obama has emphasized on the effectiveness of the government over its size thus overturning the Reagan revolution (Dionne, 2009). Impact With advocating the values â€Å"tolerance and curiosity† Obama has actually supported the concept of innovations by those who are determined to take risks. Obama as president believes in stressing on the security of the nation as he thinks that â€Å"power alone cannot protect†. He stressed on regulations on the market to keep it under control. His aim is to promote equality as according to him â€Å"the nation cannot prosper when it favours only the prosperous†. (Dionne, 2009) Impact of 1980s AIDS epidemic American life is largely a manifestation of religious... This report approves that the US war against Afghanistan was essentially illegal because it did not abide by the international law on war. According to the law when one nation makes armed attack on another nation, only then the attacked nation can use military aggression for defense. In this case Afghanistan did not attack since the 19 convicted men were not Afghans. Also permission from UN Security Council is needed to start a war and in this case the council did not permit the war. However there were some moral rationales behind the war. An international poll revealed that many people from all over the world took an unfavorable view on America especially on Bush. When people were asked who they think is a threat to world peace United States got more votes than al-Qaeda terrorist group. More people felt that America is more dangerous than countries like Iran and Syria. The poll also revealed negative views of people on America’s war on terrorism in the Middle East. This paper makes a conclusion that the continuous economic depression has created disparities within the American society thus threatening its position as superpower in the global arena. Although it has always been a land of unlimited opportunities but the success has become fragile. If there is no fast solution for overcoming the economic downfall, then the global economy is at stake. The growing disparity between the rich and the poor violates the core image of the United States.