2016
DOI: 10.20525/ijfbs.v5i3.128
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The Nigerian Economy in the Face of Socio-Political Challenges

Abstract: This paper examines the Nigerian economy and the tendency for its growth in the face of several socio-political challenges facing the country, which have hampered the rate of economic development in spite of the tremendous human and material resources inherent. The paper identifies the socio-political challenges to include corruption, poverty, unemployment, insecurity, politics and governance, among others. The central argument of the paper is that steady economic growth can be achieved and financial crisis mi… Show more

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Cited by 3 publications
(4 citation statements)
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“…According to Obamuyi & Oladapo (2016), the Nigerian government under President Obasanjo came up with the National Economic Empowerment and Development Strategies (NEEDS) in 2003 as an encompassing developmental policy going by its objective to stimulate growth and ascertain poverty curtailment, provide empowerment, job creation, wealth creation, and transformation of the Nigerian society (Uche, 2019). However, NEEDS was engulfed with insufficiency, ineffectiveness, unanalytical approach, without an appropriate economic target, and devoid of a right-based approach; consequently, NEEDS policy failed to actualize the needs of the Nigerian citizens.…”
Section: Assessment Of Regimes' Policies Performance On Socio-economi...mentioning
confidence: 99%
See 1 more Smart Citation
“…According to Obamuyi & Oladapo (2016), the Nigerian government under President Obasanjo came up with the National Economic Empowerment and Development Strategies (NEEDS) in 2003 as an encompassing developmental policy going by its objective to stimulate growth and ascertain poverty curtailment, provide empowerment, job creation, wealth creation, and transformation of the Nigerian society (Uche, 2019). However, NEEDS was engulfed with insufficiency, ineffectiveness, unanalytical approach, without an appropriate economic target, and devoid of a right-based approach; consequently, NEEDS policy failed to actualize the needs of the Nigerian citizens.…”
Section: Assessment Of Regimes' Policies Performance On Socio-economi...mentioning
confidence: 99%
“…In a study by Obamuyi & Oladapo (2016) on the Nigerian economy and the propensity for development, the duo observed that despite human and material resources endowment, corruption, poverty, unemployment, insecurity, politics and governance amid several other issues in Nigeria are hindering factors to the attainment of development in the country. To ensure economic development and progress in policy development, the government must be accountable for managing the national resources to prevent recklessness, poverty, and unemployment with a strong emphasis on policy formulation with the intention of economic development.…”
Section: Socio-economic Development Policies In Nigeria: Empirical Ev...mentioning
confidence: 99%
“…Similar to other countries of the world facing certain challenges peculiar to their territories, Nigeria too cannot be excluded from challenges peculiar to her socio-political environment. Prominent among the socio-political issues retarding Nigeria's growth and development include corruption, poverty, unemployment, insecurity, political instability and bad governance (Obamuyi & Fapetu, 2016). To inform Nigerians about these socio-political challenges and call the attention of political actors (such as governments and politicians) to the challenges, the mass media is expected to perform the multiple roles of information dissemination, education, sensitization and surveillance of its environment.…”
Section: Introductionmentioning
confidence: 99%
“…Expectedly, educational institutions like a university could act as a bridge between practitioners, students and lecturers in the context of schools' entrepreneurship programmes [31,41]. It is instructive to note that entrepreneurs who are educated had advantages in contributing to Gross Domestic Product (GDP) of nations of the world [47]. This article considers the submission of [29] that the universities are fast becoming centres of attention in the world.…”
Section: Introductionmentioning
confidence: 99%