Word: nigerias
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American businessmen traveling to Lagos should prepare by getting more than just a passport and a yellow-fever shot. These days, they should also bring along an unlimited expense account or a stash of cash. Reason: the capital of Nigeria is now the world's most expensive city, according to Business International, a New York consulting firm. Indeed, with such eye-opening price tags as $156.25 for a hotel room, $625 a week for car rental, $48.88 for a meal for one and $350 for a night on the town with three clients, a businessman's expense statement...
...current class of foreign students at the school includes a former foreign minister of Nigeria, the director of EgyptAir and a commander in the Malaysian navy. The Mason Program has several dozen students who may soon become important government functionaries in their native countries...
...Indonesia has the biggest Muslim population, but gained 5.6 million Christians during the 1970s, more than one-third of them as converts rather than through natural population growth. In Saudi Arabia, Islam's epicenter, thousands of youths have covertly converted to Christianity through listening to radio preachers. In Nigeria, where as of 1900, 73% of the people followed tribal faiths and 26% Islam, the population today-Africa's largest-is 49% Christian and 45% Muslim. South Korea demonstrates the world's most dramatic Christian revival: the churches are growing by 6.6% a year, fully two-thirds through...
...every member of the group will be borrowing money. Small states like Kuwait and the United Arab Emirates should remain comfortably in surplus, but hard-pressed countries with large populations, such as Nigeria and Indonesia, will have significant deficits. Richard O'Brien, an economist with American Express Bank in London, estimates that this year Nigeria and the other populous OPEC nations will probably have to sell off assets worth some $25 billion and then still have to borrow about $5 billion from banks...
...government is concentrating on such woefully underdeveloped sectors as agriculture, housing and education. Since 1975 Nigeria has spent $80 billion on economic development, and it now plans to spend $128 billion more by 1985. Housing programs alone call for $3.8 billion in new construction during the period. In addition, the government has been pushing forward with the development of an entirely new federal capital, Abuja, in Nigeria's sparsely populated central region, 300 miles inland from Lagos, the present capital. Spending for the project now runs at $2 billion a year...