eavily depend on other nations for survival. Improved infrastructure is a healthy indicator of economic development in a nation, constructions of firms can help reduce structural unemployment as new firms will have a demand for certain types of employees. In recent times, Nigeria has also had huge economic growth, improved infrastructure has increased industrialisation and competitiveness throughout the business sector. Telecommunications, sanitation and water supply are some of the many things that the Nigerian government has promised to improve. Africapitalism has not yet significantly had an impact on infrastructure. However as Africa’s natural resources and population grow, there will be many more opportunities to invest in the transport sector.

Economic Growth in Nigeria

Nigeria for the past decade has had very high economic growth, clocking at an average of 7.4%, this has been achieved via the thriving telecommunications, tourism, construction and manufacturing sectors. Economic growth was projected to be 6.9% in 2013 which was roughly two years after Africapitalism was adopted. In 2014 inflation rates were relatively high in between 7%-8.6%, however that same year the government of Nigeria implemented monetary policies that helped lower the average price level. In the year 2013, the government of Nigeria implemented contractionary monetary policies such as limiting the supply of money in the market and increasing interest rates, the government felt inflation rates were too high and also needed to lessen aggregate demand which were the main objectives of the government that financial year. In 2015, inflation was expected to plateau at 8.4%. Although economic growth has blossomed, poverty and unemployment still loom – the unemployment rate was at a staggering 23.9% in 2013 with roughly two thirds of the Nigerian population living under one dollar per day. The government has since promised that they will create jobs for the youth, which has not been going well so far.

Figure 4: Shows Nigeria’s GDP growth trend