Outlook Of The Macroeconomic Environment Of Business (Second Half 2003)

Abstract

The year 2003 started on a very apprehensive note for the Nigerian business community. Attempts to assess the business outlook at the beginning of the year were easily beclouded by the imminence of the potentially explosive general elections at home. On the foreign scene, outbreak of the war in Iraq and what that would mean for oil prices loomed large. Both events have come and gone in the first half of the year, and the main points of associated uncertainty have fizzled out with them, and government has surprisingly promoted concerns about the economy to the front burner. This paper presents a brief analysis on the direction of the Nigerian Economy by considering three key aspects of the economic environment of business: production and spending, prices, and selected fiscal policy indicators. It sums up the main risks and managerial challenges that could be inferred from the discussion.


LBS Management Review Vol.8(1) 2003: 1-6