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Economic Turnaround in Nigeria

MiniTest

Economic Turnaround in Nigeria

2. 4. 2018

Saving her sister during the civil war taught Okonjo-Iweala, the Nigerian Finance minister, not giving up. And her motto “however | whatever | no matter | how ……… tough the situation, you must figure out a solution” is behind many of her achievements.

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Saving her sister during the civil war taught Okonjo-Iweala, the Nigerian Finance minister, not giving up. And her motto __________ tough the situation, you must figure out a solution” is behind many of her achievements.

no matter

whatever

how

however

Since her expertise is finance, her most important achievement is that she managed to get the debt reduced from $30 billion __________ to $12 billion in her first term. That was something that has given Nigeria unprecedented room for fiscal manoeuvre.

down

Economy is now stabilized, but till then it was dependent on oil __________. When they were high, country spent everything and when they were low, they sometimes could not meet its bills.

percentage

profits

revenues

Solving this enabled the government to build a stable platform __________ which the economy can now develop and thus the country has achieved macroeconomic stability.

upon

above

up to

onto

Now Nigeria is one of the ten fastest growing countries in the world, not only thanks __________ the reformation of economy, but of agriculture too.

for

The primary aim was changing the mentality of the small farmers and changing the tools they had starting from __________ to good seeds and inputs, to improved production, to marketing, to transformation.

research

study

survey

inquiry

Nevertheless, the government still need to undertake some microeconomic reforms in doing business. Banking __________ is not quite meeting the needs of small and medium enterprises yet, for they need better access to finance.

sector

stage

area

department

The country has a problem with unemployment, so they need such quality of __________ growth that would enable them to create jobs for young people and that’s where the small businesses come.

economy

economic

economics

economical

That’s why the government need to solve their problems of access to finance. So far, they created a program that helps young entrepreneurs to really __________ their enterprise through a business planning competition.

deepen

strengthen

broaden

widen

They get a grant of $10,000 to $90,000 if they win, and create hundreds of jobs. That’s real work they have to do, but Okonjo-Iweala __________ optimistic about the future and sees Nigeria by 2020 being among the top 20 economies in the world.

keeps

retains

continues

stays