, a continued and large dependence on oil revenue with a corresponding less dependence on fiscal policy and other contributors to the Nigeria’s GDP.
Analyzing Nigeria’s compliance with the MDGs 2015, it would be admitted without any shade of doubt that Nigeria is abysmally lagging behind and thus one of the unlucky nations whose resources have been mismanaged by political marauders. It is no longer a news that Nigeria is at the vanguard of the countries with the most populous out-of-school children with over 13.2 million in number as estimated by the United Nations Children’s Fund, UNICEF.
By the ushering in of democratic government in 1999 after a distorted and chequered political interregnum summing up to two decades of economic reformlessness, the new government was caught up with the reality of looming economic crisis, a seeming trepidation necessitated by the decline of oil price in the global market which glaringly exposed Nigeria to unprecedented economic volatility.
From the Olusegun Obasanjo’s botched economic reforms christened National Economic Empowerment and Development Strategy, NEEDS, which was strictly birthed by the collapse of crude oil prices at the global market in 2001 to the dead-letter seven points agenda of the late President Yar’Adua, Nigeria has literally remained an economic dysfunctional laboratory and baseline used for experimentation of underdevelopment in the hands of successive political jobbers.
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