PROXIMATE
Low Capital Accumulation Via Low Investment
• Poor social and economic infrastructure
• Awful roads
• Unreliable electricity supply
• Limited access to portable water and healthcare
• Irrationally used resources
• Low Investment3
Inefficient Human Capital
• High Illiteracy Rate
• Unskilled Workforce
• Low Productivity
• Low marginal Productivity
4
High Population Growth and Urbanization
• High fertility Rate
• 3% Population Growth Rate
• High Urbanization Rate
• Sluggish Secondary Sector
• High Poverty Rate
5
Unemployment and Technology Diffusion
• High Unemployment Rate
• Low Technically Skilled Manpower
• Lack of Technological Capability
6
FUNDAMENTAL
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Ineffective Institutions and Corporate Governance
• Weak Domestic Institutions
• Poor Governance
• Poor Ethical Standards
• Vision 2020
• Inefficient development plans
Corruption
• High Level of Corruption
Wasted Oil and Mineral Wealth
• Unfair Income Distribution
• Rent Seeking
8
Mono-cultural Economic Policy
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• Income Dependancy on Oil
• Untouched mineral resources
• Reliance on Agriculture and Extractive Industry
• 95% of Total Export Earnings from Oil
Foreign Direct Investment Deficiency
• 29 years of Military Government prohibited FDI
• Unevennes Replaced Professionalism
10
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