Overview

The document is a speech by Prof. Chukwuma C. Soludo, CFR, titled 'From a Pariah, Failed State to an Emerging Market Economy: The Obasanjo Legacy and Challenges Ahead'. It discusses Nigeria's transformation from a failed state in 1999 to an emerging market economy by 2007 under President Olusegun Obasanjo's administration. The speech outlines the background of Nigeria's lost decades, the initial reforms from 1999 to 2002, the foundation-laying reforms from 2003 to 2007, and the outcomes that led to Nigeria's emerging market status. Key reforms include macroeconomic stabilization, structural and institutional reforms (tax, ports, banking, trade liberalization, public service, pension, and privatization), and sectoral initiatives (agriculture, solid minerals, education, power). Outcomes include significant GDP growth, increased GDP per capita, and improved global integration. The speech also highlights challenges ahead, emphasizing 'change with continuity' to sustain progress.

Download