Social, Political and Economic Conditions of Nigeria: Impact of World Bank and IMF

Running head: SOC OF DEVELOPING COUNTRIES
SOC of developing countries
Name of the student
Name of the University
Author note

1SOC OF DEVELOPING COUNTRIES
Executive Summary:
Africa is the second largest but poorest continent. Under this large continent, various countries
suffer from political, economical and social problems. The World Bank and the International
Monetary Fund provide various financial support to develop those countries. This financial
assistance helps those country to develop. However, they face some challenges as well.

2SOC OF DEVELOPING COUNTRIES
Table of Contents
Introduction:....................................................................................................................................3
Country Description:.......................................................................................................................3
Impact of World bank:.....................................................................................................................3
Impact of International Monetary Fund (IMF):...............................................................................4
Social Condition of Nigeria:............................................................................................................4
Political Condition of Nigeria:.........................................................................................................5
Economic conditions of Nigeria:.....................................................................................................6
Conclusion:......................................................................................................................................7
Reference:........................................................................................................................................9

3SOC OF DEVELOPING COUNTRIES
Introduction:
International lending institutions, like World Bank and International Monetary Fund
(IMF), help various countries to develop their economic conditions (www.worldbank.org, 2018).
They provide their support especially to underdeveloped or developing countries by providing
various financial supports. Africa is the second largest continent with huge number of
population. On the other side, this continent is the poorest continent among all other continents
of the world. Hence, Africa consists of some underdeveloped or developing countries as well. To
develop its political, economic and social factors, World Bank and International Monetary Fund
are supporting Africa. In this report, the chosen country of Africa is Nigeria. This report will
discuss about economical, political and social conditions of this country after receiving support
from these two lending institutions. To support this view, appropriate data will be provided. At
the end of the report, a suitable conclusion will be provided.
Country Description:
Nigeria is situated in West Africa with 47% population of this region. The country is one
of the largest exporters of oil. The country is also the biggest exporter of natural gas. Nigeria has
faced a growing GDP growth rate since 2006 (Dillimono & Dickinson, 2015). Though the
country is facing a growing trend of GDP, oil prices negatively affect the growth rate of this
country. On the other side, Nigeria is facing a mixed economic structure. According to the World
Bank, the country is facing the status of lower middle income.