Summary:
- Nigeria and Ghana have experienced a range of economic shocks over the past two decades, including natural disasters, commodity-price fluctuations, financial crises and global economic downturns.
- These shocks have significantly impacted the economic stability and growth prospects of both countries, emphasising the importance of developing effective resilience strategies.
- Nigeria and Ghana have implemented monetary and fiscal measures in response to various crises.
- Each country’s economic landscape is influenced by unique factors, necessitating tailored approaches to bolster macroeconomic resilience.
- Debt sustainability is a concern for both countries. Nigeria’s external debt increased due to oil-price fluctuations, while Ghana’s public debt has steadily risen, raising concerns about a potential default and necessitating debt restructuring.
- Lessons drawn from these challenges and opportunities can serve as valuable insights for the shaping of future strategies aimed at enhancing macroeconomic resilience, ultimately ensuring sustained growth and stability.
