Answer to Question #87106 in Macroeconomics for Ojo olalekan

Question

As an economist in Nigeria going in production if a project that #2.5m will execute though you have availability of #2m. List the name of the project and breakdown of the spending and breakdown of repayment with 2% interest

Answer 1

Nigeria is the world’s 12th-largest producer of oil and the leading producer in Africa.As the country’s proven reserves of both oil and gas start to decline, It is need to clarify the industry’s long-term legal and fiscal outlooks to encourage more investment in exploration and production.Nigeria is making progress in expanding local firms’ share of production and oil services by giving loan for business, banks loan, even without collateral