By Paul Collier, Catherine Pattillo, Charles C. Soludo
This ebook demonstrates that there's adequate facts at the Nigerian economic system and society to notify many coverage concerns, and divulges the present difficulties and coverage suggestions democratic Nigeria might want to debate and unravel. It provides an time table of reform as unfinished company.
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Poor quality and access to transport infrastructure increases time to market and is responsible for as much as 15–20 per cent of agricultural produce never reaching market. Some businesses report losses of up to 20 per cent of their output due to poor infrastructure, especially power. Nigeria’s considerable infrastructure costs reduce ﬁrm proﬁtability and returns to below levels for comparable activity in similar countries and potential levels in Nigeria. At the same time the relatively high levels of returns to investment for some existing ﬁrms indicate limited competition.
The shipping lines have imposed surcharges of around $700 per TEU to cover the time ships spend waiting, adding about a third to freight rates from Europe. Surcharges are unusual in other countries, and where they exist are usually far below those applied at Lagos. For example, the port of Tema in Ghana has a surcharge of $150 per TEU and Cotonou $215 per TEU. There is no surcharge in Abidjan. The costs of moving a container through the port are also very high. The basic container handling charges are about $223 per TEU (consisting of $187 for ship–shore handling and $35 for delivery).
In agriculture, for example, it is likely that low social returns, evidenced in low and declining yields, would be the more important of the two factors. , 2000. 50 Non-life insurance premium volume/GDP (%) 24 Kwakwa et al. 10 Low human capital. Recent growth literature gives much greater prominence to human capital as a factor in productivity and growth. 5 per cent annually. About 45 per cent of the population is under 15 years old. 9, though high, has been declining in recent years. 8). Gross primary school enrolment is about 100 per cent but enrolment at secondary and tertiary levels is only 35 per cent and 10 per cent respectively, compared to 62 per cent and 16 per cent in Indonesia.