COMPARATIVE ANALYSIS OF NIGERIA AND INDIA ESSENTIAL MACRO-ECONOMIC INDICES

Abstract

Bearing in mind the long standing relations bctwv.cn Nigeria and India, a comparative analysis of their 2008 SAM was undertaken in order to assess the relative strength of each country. To do this, the forward and backward linkages of the economies obtained from the technical coefficients were compared. In spite of the fact that /u-r capita (iDP oj Nigeria is higher than India, it was found that Nigeria's GDP is dominated by import while that of India nw dominated by private consumption expenditure. Nigeria's economy is still im/tort dependent while the export sector is dominated by primary products like yams and oil and gas, making Nigeria vulnerable to external shocks. There are also wide disparities between the domestic demand of goods between Nigeria and India. Nigeria must reduce the importation of capital goods and increase investment spending on the public sector sen ices for up to 45% of that of India in order to be at the present welfare level of India..