Socio-Economic Problems in Nigeria: Causes and Remedy
Abstract
Nigeria is of great strategic significance to Africa and the world at large. Nigeria is the most populous country in Africa with a population of roughly 150 million and is endowed with numerous mineral resources. Nigeria also is the 14th largest oil exporting country in the world. Despite these tremendous resources, Nigeria is still considered to be a poor country; its Gross Domestic Product (GDP) is approximately $374.3 billion. Nigeria is engulfed with socioeconomic problems that have caused poverty and conflict in the country. The growth of the country is still hampered by consumptive cultures, weak institutions, and fragile political structures. This paper will attempt to answer the following questions: (1) What socioeconomic problems facing Nigeria could be responsible for the weak government institutions in the country?; (2) What kind of value system does Nigeria have?; and (3) What must Nigeria do to address these challenges? The paper offers suggestions to Nigeria for establishing good governance and strengthening the weak institutions that are essential for overcoming its socioeconomic problems.
Document Details
- Document Type
- Technical Report
- Publication Date
- Mar 15, 2012
- Accession Number
- ADA561627
Entities
People
- Charles O. Ofoche
Organizations
- United States Army War College