Efforts to Change Nigeria 's Negative Image

Because of the negative way the international press portrayed Nigeria beginning from the mid 1980s through the '90s, foreign investors have been slow to take advantage of opportunities in the country.

Since 1999, however, the government, individuals and organizations in the Nigerian private sector have worked to erase that negative portrayal of the country. All the effort is yielding results. The World Bank and other international lenders recognise improvements in Nigeria 's macroeconomic performance and say this is an indication of the soundness of government economic policies. The International Monetary Fund (IMF) has agreed to support more economic growth in Nigeria through its willingness to help finance infrastructure development and improvements in the country.

On a visit to Nigeria in December 2004, IMF executive, Anne Krueger, observed that, "Prudent management of [Nigeria 's] significant oil windfall has helped to stabilize the economy and to begin to address the major macroeconomic imbalances. Inflation has begun to fall, the exchange rate is more stable, and there has been significant build up of reserves."