The economics of growth fragility in Nigeria

The Nigerian economy has been structurally defective with average GDP growth rate of 2.0% trailing population growth rate at approximately 3%. A country where budgetary preparation is based on exogenous oil price for revenue and running on a rising debt profile with little or no infrastructure to show. Consequently, this study unravels the domestic and foreign risks to growth fragility in Nigeria using descriptive analysis and inference from theoretical perspectives. We then conclude by proposing that government makes rigorous efforts to reposition the economy if the current state of fragile growth, high unemployment and declining social welfare conditions are to be changed.