Its banking sector reform has been acclaimed globally to be strong and has put the economy on a path of improved performance and steady growth. The foreign currency reserve is close to historical height and is substantially, relative to GDP, for a developing country. The government has continued to focus on the private sector as an engine of growth for the economy and to respond to the economic climate.
Nigeria has a large domestic market. It is the largest market in sub-Sahara Africa and the potential stretches into the growing West African sub-region. The government has created a favorable climate for business and industrial ventures. The exchange and control regulation have been liberalized to ensure a free flow of international finance. There is now no unrestricted movement of investment capital.
The new government of President Goodluck Ebele Jonathan has declared a Transformation Agenda which focuses on power sector reform, infrastructure development and diversification on the economy (including towards mineral resource development).