Definition: gini index measures the extent to which the distribution of income (or, in some cases, consumption expenditure) among individuals or households within an economy deviates from a perfectly equal distribution a lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. Underground economy it also proffer challenges so as to engender an efficient and effective tax regime in nigeria keywords: tax system, 46 structural problems in the economy: since the early 1990s, nigeria has been moving away from direct to the indirect tax considered to be less distortionary vat, for instance, is less distortionary. Nigeria started 2014 ready to celebrate becoming africa’s largest economy, albeit by updating (rebasing) the standard measure of economic size, gdp unfortunately, the festivities were short-lived. Aspect of agriculture in nigeria's quest to diversify its economy, it also remains crucial to the overall wellbeing of pastoralist communities, particularly the nomadic fulani herders. The latest news in nigeria and world news the guardian nigeria newspaper brings you the latest headlines, opinions, political news, business reports and international news.
In our “informal economy in nigeria” survey, we asked 1,177 nigerians what they think of the irregular, underground or invisible economy 7 the informal sector is a vital part of any country’s economy, by creating employment opportunities and contributing to gdp informal economy being the “lesser” of the two on the other. A black market, underground economy, or shadow economy is a clandestine market or transaction that has some aspect of illegality or is characterized by some form of noncompliant behavior with an institutional set of rules if the rule defines the set of goods and services whose production and distribution is prohibited by law, non-compliance. ‘there is the economy you see - manufacturing, trucking, and retail - and there is the vast underground economy that runs, like an aquifer, beneath the borderlands’ pronunciation underground economy.
Economists have long thought the underground economy -- the vast, unregulated market encompassing everything from street vendors to unlicensed cab drivers -- was bad news for the world economy. Abstract abstract this study was undertaken with the goal of analyzing the relationship between poverty rates and size of underground economy in the developed and developing countries and exploring whether there is a link between them. Economic and fiscal implications of nigeria’s rebased gdp gross domestic product (gdp) is an internationally recognised measure of economy size and strength it is importance to have up-to-date data so the rebasing is a step in the right direction.
The underground economy is found to vary from a high of 54% in 1985 to a low of 25% in 1999 economics research international is a peer-reviewed, open access journal that publishes original research articles as well as review articles in all areas of economics according to schneider and enste , nigeria and egypt had the largest. Demand, the underground sector in nigeria, egypt, and thailand represents in each case nearly three-quarters the size of officially recorded gdp as averaged over 1990-93 2 the corresponding figures for oecd countries range from 8 to 30 percent. President buhari who was represented by the minister of transportation, rotimi amaechi, stated: ‘‘nigeria has relied so much on the crude oil economy it is time to focus on other sources.
Referred to as the underground economy (daodu, 2001) with specific reference to nigeria, the various economic reforms embarked upon since the 1980's by various government have yielded no positive result. Measuring the informal economy is something of a challenge because it is difficult for economists to gather reliable data using traditional data sources, such as tax rosters and scanner data. Many sectors of the nigeria 's economy will suffer as a result of this banking crisis the “government's economic policies” like vision 2020 might also be affected nigeria's weekly woes in nigeria , its one week one trouble or even more some authors have described nigeria as a theatre and nigerians the actors going underground. Hiding in the shadows the growth of the underground economy these are all examples of the underground or shadow economy—activities, both legal and illegal, that add up to trillions of dollars a year that take place off the books, out of the gaze of taxmen and government statisticians nigeria and egypt had the largest shadow. The fifth is the structural problems in the economy that affects the maximization of vatfinally, the challenge of underground economy it would take too much space to enumerate all the challenges soa few comments on some of them will have to suffice.
If nigeria is to get anywhere near the millennium development goals by 2015, or its indigenous 2020 targets, a lot depends on its management of this tremendous underground powerhouse. Underground economy and the caused (or indicative) variables, it is possible, based on this relationship, to develop an index of the variable of interest however, in order to the index to express the size of underground economy, as a. Keywords: corruption and poverty in nigeria, rising underground economy, sam agbi, underground economic activities, developing economies, and eniola agbi introduction a cursory review of the required literature demonstrated that poverty in developing countries was. The fact is that this is not the “underground economy” it is the economy most nigerian women survive day to day through informal means of makind money love this 0 reply.
Mostly owned and run by unemployed youth in the delta region, this informal underground oil economy is a classic example of the ways in which the mass of disgruntled youth in nigeria have now evolved their own new survival strategies in the face of inauspicious social and economic conditions in everyday life. Labour practices in the informal sector of nigerian economy: a critical analysis department of human resource management, michael okpara university of agriculture, pmb 7267, umuahia, abia state, nigeria abstract: the dual labour market hypothesis structured, backyard, underground, subterranean, unobserved or residual also within the. D the production of the underground economy is included in our gdp a the nigerian economy did better in 2030 in 2030 nigeria had a gdp of $700 billion and depreciation of $100 billion. Nigeria was at 50 per cent debt to gdp and came down to literally 5 per cent or so this happened across all africa in the form of debt forgiveness, debt relief, debt restructuring and so on.
Nigeria, libya, algeria, egypt, and angola dominate africa’s oil industry oil exploration has significantly increased on the continent, and many countries are looking to become first-time producers. Assignment on the informal sector of nigeria economy 12 pages assignment on the informal sector of nigeria economy from two perspectives according to this approach, the underground (informal) economy is made up of two components viz: - the production and distribution of illegal goods and services and - the non reporting of legal. Cormac herley principal researcher contact info email twitter google scholar website research areas some of my recent work explains why nigerian scammers say they’re from nigeria, c herley and d florencio, “economics and the underground economy,.