[knightofdelta]

“High operational risks include unstable politics, a weak judiciary, poor corporate governance, internal security problems, and infrastructural deficiencies. These risks are a legacy from the old military dictatorships, which by means of chronic underinvestment and economic mismanagement, have caused poor infrastructure, low wealth, and poor development levels that are currently encumbering Nigeria today”, the report said.

That is a summary of the situation that is plaguing the Nigerian economy at the moment.

Speaking on the report on Nigerian banks at a briefing in Lagos yesterday, officials of S&P said the problem in the Niger Delta, the energy crisis, and infrastructural problems have all combined to affect improved sovereign rating of the country and the banks.

If the government is serious enough and throw all their resources at the energy crises, the economy will dust itself and GDP will grow in leaps and bounds.

Sound report. Short and concise.