In 2015, the performance of the economy will be defined by several factors such as 2015
elections,Economic continuity,Government spending/fiscal policy, currency, economic
diversification, monetary policy, reserves/savings and oil price and
securityNigeria has suffered from the resource curse; blessed with natural resources such
as fuels, this led tothe decline in the competiveness of other economic sectors. Government
mismanagement of resources,and weak or corrupt administrations have also had an adverse
impact on economic growth. With over 80% of government revenue and 95% of foreign
exchange generated from the sale of oil, the country is extremely exposed to volatility in oil
prices . It is not a coincidence that Nigeria’s economic cycle is positively correlated to oil
prices. Countries like Venezuela and Russia have suffered from this
risk in the past.
