Nigeria possesses a wealth of naturalresources including major oil and gas deposits, a variety ofsolid minerals, good agricultural land, a well developedindustrial base, an extensive banking system, a large laborforce, and a vibrant private sector. However, thecountry's tremendous potential for growth anddevelopment has yet to be fulfilled. Real income andconsumption per capita today are scarcely higher than theywere in 1971 before the start of the oil boom. Socialindicators have been improving somewhat but remain faracceptable levels. There is an urgent need to put in place,over the medium term, mechanisms that will ensure sustainedimprovements in the quality and quantity of social services.
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