Nigeria has so many problems that Hinders the economic development of their country they include:
1          Political instability
2          Building a united nation
3          Corruption
4          Unemployment
5          Poverty
6          Illiteracy
7          Low standard of living 

1.          POLITICAL INSTABILITY: One of the primary problems Nigeria faces today that hinders her economic globalization or development is political instability. Nigeria since independence has had about thirteen different leaders and the majority of her leaders have been military officers. Nigeria broke its ties with Britain and accepted presidential system of government which is modeled after the United States. This system of government is proved to have worked in other countries. Still Nigeria needed a steady government official in office. According to Almond Gabriel he said after some time, rural citizens give up on participating in the government process.10 Past leaders of the nation create an unstable government through bribe and corruption which still exists till date. There were several times power was taken over by the military from civilian through implementation of coups and counter coups. During the military rule soldiers and bureaucrats increase the power of the state. The take over of power from civilian by military rule were all to end corruption still persist. In 1999, take over of power by military was permanently put to hold and democracy was ushered in to stay, but with all that had happen the people of Nigeria still have problem of instability in their political system. Thus, Nigeria is still on the move to have a stable government. And until its political system is stable, its economy and other structures of the country can never improve. Indeed, this will hinder Nigeria as being classified among the developed countries.

2.         BUILDING A UNIFIED NATION: Nigeria though has gotten her independence but still do not have unity. They found it difficult in building a unified nation as a result of the existence of 250 ethnic groups and some religions. This is also applicable to some other African countries like Mali, Chad, Sudan etc. They existence of the multiple ethnic group in a country in Africa is as a result of an agreement reached by the European in Berlin conference. The colonial masters - Europeans were interested in the vast of land of their colonial territory, as a result of that they created what is today known as international borders. Thus, this international border helped to identify the existing nations today for example Nigeria. When these borders were established they did not take into consideration the existing ethnic groups as well as religious groups that exists in those areas. Many countries like Nigeria suffered and still suffer today. There is division, instability, and struggle for leadership within these countries. For instance, they have not been an agreement reached between the Muslims in the North and Christians in the south in Nigeria. They both have always fought about the control or leadership of the country. Nigeria can never be successful when it suffers disintegration. Many attempts have been made by the past leaders to unit the nation but to no avail. The only succeeding institution is English language which is serving as a means of communication or as an official language but has not solved the problem of nation building in Nigeria. The problem of being united will make Nigeria even in the years to come to remain not unified nation.11

3.         CORRUPTION: corruption dishonest or illegal behaviours, embezzlement of fund especially in the government offices and the government authorities. This has eaten deep into the fabrics of the nations’ economy. The country is corrupt, the economy is being misguided and mismanaged and there will be no development as a result of that. Most leaders see their position as the opportunity to take their own share of the national cake rather than to help improve the country development. Wide spread of corruption is a symptom of a poorly functioning state and a poorly functioning state can undermine economic growth in order words, a corrupt economy must surely remain under developed because corruption is anti- development.12

4.         UNEMPLOYMENT: Another problem Nigeria economy faces is unemployment. This result when there is no out lets to accommodate the number of people that are willing and are able to do a given work at any given time. Under circumstance the people remains idle unproductive and the economy destabilizes. Unemployment leads to less out put production required to satisfy the needs and wants of the people in a give country. Nigeria population is increasingly rapid in number, thus the out put should increase as well. Rather it has been estimate that history and agriculture combined will be able to absorb only half of the projected increase in Labour force. Unemployment jeopardize the economy of Nigeria .This is because the level of Net Domestic Product (NDP) of an economy depends, by definition upon which the number of the workers and on the product per head / worker. The distribution of workers among the various sectors of an economy has hence an important bearing on product per worker and therefore on NDP.13

5.         POVERTY: Nigeria is richly endowed with natural resources but at the same time most of its citizens wallow in abject poverty. Because of poverty, it becomes difficult to make investment and cannot afford a constantly up date their goods and technologies. Thus, this makes it difficult for these countries to compete globally. The poverty level experienced in Nigeria economy made it difficult for her factories and industries development. According to the world development reports 1990, more than one billion people in the developing world including Nigeria are living in poverty. The estimate is the number of people who are struggling to survive on less than 370 dollars a year.14
            Because of poverty, Nigeria is no where industrially and technologically compared to other industrialized or developed world. Nigerians limitation in industrial development makes it difficult for her to solve the problem of food scarcity. This is because when there are no industry producing food stuffs or items there is bound to be food crisis. In fact, Nigeria and its citizens are experiencing poverty on all level or standard.

6.         ILLITERACY: illiteracy is another problem that hinders economic development of a nation. For example, in Nigeria, southern region are made up of educated people than in the Northern region. This is because the South is compelled to open up to western influence than the north. However, in Nigeria the population census conducted in Nigeria ever since its independent shows that northern part of Nigeria is more populated than the south, that is why it’s noticed that the population not educated are much; because many today especially in the north are against western education. They see it as waste of time, money and imperialistic in nature. However, the illiteracy level in Nigeria made it difficult for some part of the country to adapt to this new age information technology. Today in Nigeria many do not know how to operate computer, browse, or access some other technology that are now invented. This however, makes it difficult for the improvement of ones standard of living because the global market is best accessible through information technology. And since it’s few that knows how and when to operate these invented technologies it makes it difficult for the nation’s economy to develop.

7.         LOW STANDARD OF LIVING: There is low standard of living as a result of low productivity, low per capital income, insincerity on the part of the leaders, unemployment, inequality, high mortality rate, high crime wave, rural-urban migration etc. Nigeria thus, were entrapped in debt crisis and begging, increase in the food crisis, increase in disease and sickness, death etc because their standard of living is very poor. Therefore, Nigeria can only experience change in its economic development if only some institutions and policies can be implemented to help create efficient and effective administration. Also it can become the highly productive market and country.
Share on Google Plus


The publications and/or documents on this website are provided for general information purposes only. Your use of any of these sample documents is subjected to your own decision NB: Join our Social Media Network on Google Plus | Facebook | Twitter | Linkedin