Benue State University, Makurdi

A Policy Evaluation of the Constraints on Nigeria's Economic Development

Joseph Fefa & Tersoo Pawa

Abstract

This paper examines the concept of Economic Development as the increase of the amount of people in a nation's population with sustained growth from a simple, low-income economy to a modern, high-income economy. It considers Nigeria's effort to achieving economic development through development plans/rolling plans and development projects (Agricultural Development Projects). These efforts were found to be unsuccessful. Nigeria's development indicators and stylized facts about the economy showed that Nigeria has not achieved economic development. Human resource constraints, distortions caused by globalization and natural resource abundance, agricultural constraints and over-dependence on oil, political and administrative constraints, professional and administrative insincerity and technological backwardness constituted problems to achieving economic development in Nigeria. Nigeria can still achieve economic development by being more committed to plans and projects as work guide, isolating from non-imperialist nations of West in terms of policy making and trade, improving the quality of education to be more pragmatic, ensuring mechanized commercial agriculture and committed leadership.

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