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Economic Brief - Global Value Chain Development and Structural Transformation in Nigeria
• The rationale for global value chain development in Nigeria is premised on several grounds that include: viability as a lever for guiding the country’s economic transformation; potency for addressing the growth inclusiveness challenge facing the country; and effectiveness in driving sustained growth through delinking the economy from fluctuations in commodity prices and weather conditions.
• To take advantage of these benefits, Nigeria needs to take advantage of its vast potentials in wide array of activities that include agricultural commodities (cocoa, cassava, etc), oil and gas, manufacturing, entertainment and similar activities.
• Structural transformation is possible in Nigeria through GVC development via industrialization, technology upgrade, emergence of new ancillary activities, export diversification, and inclusive growth promotion.