Nigeria in 2023: Bridging the productivity gap and building economic resilience

Subscribe to africa in focus, wilson erumebor we wilson erumebor senior economist - nigerian economic summit group, doctoral researcher - soas university of london @wilsonrume.

February 6, 2023

Below is a viewpoint from the  Foresight Africa 2023  report, which explores top priorities for the region in the coming year. Read the full chapter on  economic recovery and growth .

Foresight Africa 2023

Another key feature of Nigeria’s economy in the last seven years has been the shift of economic activity towards agriculture and a slowdown of the manufacturing sector. As a share of GDP, agriculture expanded from 23 percent in 2015 to 26 percent in 2021, while manufacturing declined from 9.5 percent to 9 percent respectively. During this period , non-oil exports as a share of non-oil GDP averaged 1.3 percent while manufactured goods as a share of total exports remained low at 5.2 percent in 2021. Part of the problem facing the economy is the neglect of the manufacturing sector. Essentially, Nigeria is not producing enough, for both local consumption and export. The consequences of having a weak manufacturing base for a country with such a large population are evident in its foreign exchange shortages, limited number of jobs created to accommodate workforce entrants, and an import bill that can hardly be met (nor sustained) by current export earnings.

Worse still, 80 percent of workers are employed in sectors with low levels of productivity —agriculture and non-tradable services. This means that the kind of jobs needed to generate income growth and lift many Nigerians out of poverty are not available in large numbers. As Nigeria approaches the general elections in 2023, there is immense pressure on political leaders to tackle these economic challenges and implement policies that will deliver an inclusive and competitive economy.

As Nigeria approaches the general elections in 2023, there is immense pressure on political leaders to tackle these economic challenges and implement policies that will deliver an inclusive and competitive economy.

The new administration, working with stakeholders, needs to develop an agenda for economic and social inclusion. At the heart of such agenda must be improving the lives of the average Nigerian. This agenda must also include a practical strategy on how to structurally transform the economy, moving labor and economic resources from low productivity sectors to high productivity sectors.

At the top of the productivity ladder is the tradable services sector, which has the potential to improve incomes and raise overall productivity. The challenge with this sector, however, is its inability to accommodate labor in large numbers. Nevertheless, the sector is important, given Nigeria’s young population who are increasingly driving technological revolution across various sectors on the African continent. To leverage the full potential of this sector, the government will need to design and implement national skills programs aimed at upskilling young Nigerians , to ensure many more embrace digital skills and capabilities.

At the middle of the productivity ladder sits manufacturing. The sector has a much higher productivity level than agriculture and can accommodate, in large numbers, the kind of labor that is abundant in the country. Nigeria’s rising population (which is projected to reach 428 million by 2050), the existence of mineral resources, and the adoption of a single market in Africa—the African Continental Free Trade Area (AfCFTA)—present a case for why manufacturing would thrive in Nigeria. The priority, therefore, for the incoming government must be to address the burgeoning infrastructure deficit and inadequate power supply, which limit the competitiveness of the manufacturing sector. In addition, the government will need to develop an industrial policy that seeks to support the scale, efficiency, and competitiveness of local firms within the manufacturing sector; bearing in mind that developing the sector is key to building economic resilience against vulnerability and future shocks. Such policies must be integrated with Nigeria’s AfCFTA strategy and support transition of small-scale firms that are often the drivers of job creation in the country.

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Nigeria’s Economic Evolution and Future Growth Research Paper

Introduction, country overview, political history, economic history, the current state of the economy, economic growth, recommendations for the government, the road ahead.

The Federal Republic of Nigeria is a country located in the western part of the African Continent. It borders Niger to the North, Cameroon to the East, and Benin to the West, and its capital is located at Abuja. Lagos City is the most populous city not only in Nigeria but also in Africa. Nigeria is the most populated country in Africa and the seventh most populous country in the whole world. Its population is estimated at approximately 206 million inhabitants as of 2019 (Falola et al., 2020). The paper is going to tackle the economic evolution and the current economic status of Nigeria.

Agriculture is one of the main contributors to the country’s economy. Among the food crops produced in Nigeria are yams, yataro, and cassava as the primary food crops in the South, and sorghum, millet, cowpeas, and maize in the North. Rice is an important staple food for most Nigerians. Palm trees and rubber trees in the South, and peanuts, cacao trees, and cotton in the North are the cash crops produced in Nigeria. These cash crops are exported to foreign countries, and the revenue obtained from them facilitates economic growth.

The country also has several industries, both modern and traditional, that contribute to the economy. The modern industries in Nigeria include steel mills, pulp and paper mills, petrochemical plants, and aluminum smelters (Oburota & Ifere, 2017). These industries are an addition to existing industrial sectors, such as tourism, textile, tobacco, beverages, and cement industries, controlled by foreign investors. All these industries contribute immensely to the economy of Nigeria.

There is a significant disparity between the rich and the poor regarding income and wealth distribution in Nigeria. According to Oxfam, the five wealthiest Nigerians, including the richest man in Africa, Aliko Dangote, have a combined US $ 29.9 billion wealth (Ndubuisi, 2017). However, 40% of Nigerians (approximately 83 million) live on less than a dollar a day. Furthermore, the country’s PPP GDP has tripled from the US $ 175 million in 2003 to the US $ 630 million in 2018 (Ndubuisi, 2017). This shows how the economy of Nigeria has grown with time.

The Federal Republic of Nigeria was a British colony that gained its independence on October 1, 1960. Two Nigerian freedom fighters led the independence movement. These two were Nnamdi Azikiwe as the President and Abubakar Balewa as the Prime minister (Israel & Okpalaeke, 2017). The independent country achieved its full status as a Republic on October 1, 1963. After a brief period of happiness resulting from the independence, Nigeria started manifesting the weaknesses it had as a country (Israel & Okpalaeke, 2017). There were constant conflicts and mistrust among major ethnic groups in Nigeria motivated by ethnic competition, inequality in education, and economic inequalities.

There were attempts to unite the conflicting regions to form a unitary government, but they all failed. In 1967, Eastern Nigeria under General Ojukwu decided to secede and form the sovereign republic of Biafra (Onuoha, 2018). This marked the beginning of a civil war that ended briefly in 1975 with the overthrow of Gowon’s Government and General Murtala Mohammed Government’s installation, which brought reforms. The two most dominant political parties are the Peoples Democratic Party (PDP) and All Progressive Congress (APC) (Igwe, & Amadi, 2021). APC is a coalition of political parties that came together to remove PDP from power (Sule, Sani & Mat, 2018). Furthermore, the Nigerian Government legislated the Land Use Act of 1978 to ensure land accessibility to all farmers. However, many reforms in the act are yet to be implemented.

Nigeria has always depended on petroleum and natural gas as the primary source of revenue for the Government. In the 1970s, petroleum contributed 87% of the country’s export and 77% of the Government’s revenue (Matemilola, 2017). Currently, 40% of Nigerians live below the poverty level as the agricultural sector remains in crisis (Akindola & Ehinomen, 2017). The main currency used in Nigeria is the Naira which the Central Bank of Nigeria issues. The currency has been devalued severally since 1980. The country’s main exports include crude oil, cocoa beans, and rubber to the European Union countries, India, and the US (Ndubuisi, 2017). In contrast, the main imports are automobile, textile, paper products, chemicals, and food from the US, China, and the EU (Matemilola, 2017). Thus, the Nigerian economic history is characterized by diverse players which contribute to its current state.

The country’s economy is affected by several challenges in its growth. These challenges include inadequate infrastructure, insufficient power generation and supply, and over-reliance on petroleum for government revenue. The Nigerian economy is also burdened by an enormous foreign debt that requires millions of dollars to service. The Government has introduced customs regulations to encourage economic growth in the country by emphasizing locally produced goods (Ogunleye et al., 2018). Three foreign countries are interested and involved in the economic affairs of Nigeria. These are the United States, China, and, to a lesser extent, Russia, which is interested in its nuclear energy (Sertoglu et al., 2017). Therefore, it is crucial to note that various foreign countries have expressed their interests towards Nigeria.

Nigeria’s economy has been growing considerably since the installation of the civilian government in the mid-1990s. However, despite economic growth, the wealth distribution is unequal as only a few individuals control an outstanding share of the economy (Nyoni & Bonga, 2018). While the proportion of poor Nigerians has decreased slightly, the population has grown by 54.3% since 1970 (Olayungbo, 2019). This population increase has led to the rise in people living below the poverty levels (Dauda, 2017). Thus, it is important to note that the Nigerian economy has grown considerably over the past few decades.

The government of Nigeria can take specific strategies and policies to help it ensure economic growth and equal income and wealth distribution among its citizens. Firstly, the government can work on the diversification of the economy. This will help the country prosper economically, even during instances where the oil prices decline. Secondly, the government can enhance its security to attract more investors. The threat of security by the Boko Haram militia has threatened several potential private investors from investing in Nigeria (Ighobor, 2018). Lastly, the government can develop the right monetary policies to ensure easy accessibility to credit facilities for small and medium enterprises.

There needs to be a significant change in behavior of the various foreign powers interested in Nigeria. First, they need to avoid giving aid to the country with some demands guaranteed to the aids. They should also reduce their active involvement in the country’s economic affairs as it has led to a deeply divided country. They should make their intentions right and work towards alleviating poverty among the poor Nigerians. When these countries adopt these new behaviors, there will be a positive change in their economic growth and citizens’ living standards.

I expect the population of Nigeria to grow more than it is right now. There may be approximately 242 million inhabitants by the year 2030, and the poverty levels may also rise by around 7%. This is because the growth in the economy is not tantamount to poverty eradication, as highlighted above. Consequently, I hope that the Nigerian government will diversify its economy, improve its security and infrastructure, and develop viable monetary policies. This will help in the development of the economy and the eradication of poverty in the country.

The economy of Nigeria has grown over the past decades and emerged as the largest economy in Africa. This has been motivated by several factors, such as privatizing formerly state-owned corporations and private and foreign investments. Consequently, petroleum has been the most significant contributor to the country’s economic growth. However, issues like insecurity, inadequate infrastructure, and unemployment have impeded the development of its economy in the past few decades. Solutions to these challenges include creating employment opportunities for the youths who are the majority, improvement of infrastructure, and enhancing security.

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Igwe, P. I., & Amadi, L. (2021). Democracy and political violence in Nigeria since multi-party politics in 1999: A critical appraisal. Open Political Science , 4 (1), 101-119. Web.

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Nigeria Economic Update: Resilience through Reforms

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Photo: Arne Hoel/World Bank

STORY HIGHLIGHTS

  • The latest Nigeria Development Update report says that Nigeria has exited from its deepest recession in four decades as COVID-19 restrictions were eased
  • Oil prices recovered, and the authorities implemented sensible and timely policies to counter the economic shock on Nigerian’s welfare and to create new fiscal space
  • With poverty increasing in 2020 due to the combined effects of COVID-19 and rising prices, the report recommends policy options that can help reduce inflation and protect poor households from its impacts

ABUJA, June 15, 2021 –  In 2020 the Nigerian economy shrank by 1.8%, its deepest decline since 1983. The COVID-19 crisis drove the economic slowdown; the external context was marked by capital outflows, intensified risk aversion, low oil prices, and shrinking foreign remittances.

The  Nigeria Development Update Resilience through Reforms states that reforms implemented by the Nigerian government were critical and timely to alleviate the impact of the recession on the economy and to create additional fiscal space. Reform slippages would threaten the pace of recovery and limit the government’s ability to address gaps in human and physical capital.

The report discusses policy options to reduce inflation, protect the poor and vulnerable and support economic recovery. Accomplishing these goals will require a big push in exchange-rate management, monetary policy, trade policy, fiscal policy, and social protection. Some specific measures recommendations are the following:

  • Increasing the transparency and predictability of exchange rate management policies to reduce distortions in allocations in the private and public sector; and to ensure that agents can access foreign exchange in a timely and orderly manner, at an agreed rate.
  • Clearly defined monetary-policy priorities and objectives, with price stability as the primary goal. The resumption of naira-denominated open-market operations (OMOs) based on a transparent issuance schedule, and signal to markets that OMOs will use short-maturity securities to achieve price stability.
  • Full and effective reopening of land borders for trade and strengthening regional cooperation to combat smuggling.
  • Facilitation of imports for staple foods and medicines by removing them from the list of foreign exchange (FX) restrictions and replacing import bans and with tariffs that align with the ECOWAS Common External Tariff.
  • Establishing mechanisms to monitor and report the federal government’s stock of Central Bank overdrafts to control the growth of the money supply.
  • Full elimination of the petrol subsidy; and design of sequenced reforms to mobilize domestic nonoil revenue in a way that does not affect the economic recovery, including increasing excise taxes on harmful consumption goods, rationalizing tax expenditures, removing loopholes in tax laws, and improving tax compliance by strengthening revenue administration.
  • Leveraging the National Social Safety Nets Program (NASSP) to provide transfers to additional households, and temporarily increase transfers to current beneficiaries
  • Complementing the NASSP with the National Home-Grown School Feeding Program (NHGSFP) to strengthen the food security of vulnerable households in 26 States: and rapidly implement the World Bank-supported CARES project to support households, farmers, and firms.

Recent Economic Developments

The Nigerian economy is expected to grow by 1.8% in 2021, though there is high uncertainty about the outlook. The recovery would be driven by rise in oil exports and in domestic demand. However, Nigeria’s recovery is expected to underperform those of other oil producers, and an unexpected shock to oil prices could threaten the modest growth projected. Moreover, high inflation and high unemployment exacerbate macroeconomic risks, and activity in the tertiary sector will not fully normalize unless COVID-19 is contained. By the end of 2021, Nigeria’s GDP is likely to approach its 2010 level, thus reversing a full decade of economic growth. GDP per capita is projected to continue declining because the economy is forecast to grow more slowly than the population.

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Nigeria’s Political, Economic, and Social Dynamics in a Pandemic Era

  • First Online: 26 April 2023

Cite this chapter

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This chapter examines the impact of Nigeria’s containment and mitigation strategies established at the outbreak of the pandemic in the country. The chapter asserts that government intervention reflected a holistic approach which included practical welfare strategies to facilitate the provision of essentials vital for social-economic stability and development. While this approach suggests a significant shift in the government’s neoliberalist stance to a more welfarist outlook, the strategies fail to achieve the desired result due to certain prevailing factors such as corruption and weak institutions. The chapter emphasises the need to urgently tackle the prevalence of these vices to halt the country’s looming socio-economic crisis.

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Eruaga, O.A., Osiki, A., Ubi-Abai, I. (2023). Nigeria’s Political, Economic, and Social Dynamics in a Pandemic Era. In: Stojanović, A., Scarcella, L., Mosalagae, C.R. (eds) The First 100 Days of Covid-19. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-19-6325-4_9

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The Economic Situation in Nigeria: Perspectives on the Forces that Shaped It and the Way Forward

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On October 27, 2017, the Wilson Center Africa Program hosted a roundtable discussion on “ The Economic Situation in Nigeria: Perspectives on the Forces that Shaped It and the Way Forward,” with Mr. Zuhumnan Dapel, a joint public policy fellow with the Wilson Center Africa Program and the Center for Global Development, and Professor James Habyarimana, Associate Professor at the McCourt School of Public Policy at Georgetown University. Professor Landry Signé, former Wilson Center Public Policy Fellow and current Rubenstein Fellow in the Global Economy and Development Program at The Brookings Institution, moderated the event. This roundtable discussion explored the factors behind weak economic performance in Nigeria, tracing key recent political and economic events and evaluating relevant policies. Speakers located the importance of oil within the larger economic picture and offered recommendations for reducing poverty and boosting economic transformation. Key recommendations for going forward included better coordination among government and private sector actors; easing access to economic performance information; focusing on the private sector as a player in development; and, improving democratic governance in Nigeria to create a reliable, supportive environment for growth.

Professor Habyarimana opened the discussion with an optimistic assessment of the economic transformation that has occurred in recent years in Nigeria, which has boosted the middle-income sector of the population. Labor has increasingly been shifting from agriculture and other low-productivity sectors into higher productivity sectors, such as manufacturing, finance, insurance, transportation, and communication. Challenges to this growth include the capacity for Nigeria to create opportunities for a growing youth population; Nigeria’s currently low ranking in terms of ease of doing business; and, the weaknesses of Nigeria’s infrastructure. Professor Habyarimana proposed that some of these challenges can be mitigated through improved coordination between the private and public sectors as well as improving access to information and encouraging entrepreneurship. Sound government intervention and heightened attention to strengthening the manufacturing sector are necessary if the formal economy is to expand and grow.

Mr. Dapel argued that, while oil has conventionally been considered a curse for the Nigerian economy, oil itself is not the problem, but rather the management of these resources. Fiscal-related corruption and unsound economic policies contributed to mismanagement, which has led to inflation, increased poverty rates, and lower standards of living in recent decades. The Nigerian Government must improve its responses to fluctuations in oil prices; specifically, it should refrain from over- and under-adjusting to changes in oil prices. Bureaucrats and the governing class have benefitted from weak institutions, which is one of the main challenges to improving economic policy. Institutions must be strengthened and the government should intervene by improving infrastructure and education in order to reduce chronic poverty and stimulate growth.

Zuhumnan Dapel

Zuhumnan Dapel

James habyarimana.

Landry Signé

Landry Signé

Africa program.

The Africa Program works to address the most critical issues facing Africa and US-Africa relations, build mutually beneficial US-Africa relations, and enhance knowledge and understanding about Africa in the United States. The Program achieves its mission through in-depth research and analyses, public discussion, working groups, and briefings that bring together policymakers, practitioners, and subject matter experts to analyze and offer practical options for tackling key challenges in Africa and in US-Africa relations.     Read more

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write an essay on the economic situation in nigeria

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INSECURITY IN NIGERIA: GENESIS, CONSEQUENCES AND PANACEA

Insecurity is one of, if not the most glaring and much talked about thing in Nigeria today. Acts of insecurity occur on daily basis throughout the country. Right thinking and sane Nigerians are really concerned about this ugly trend. This paper digs into the root causes of insecurity in Nigeria, its effects on the country and proffers/suggests ways out of this nightmare. The causes amongst so many include fundamentally illiteracy, unemployment/joblessness, poor leadership, porous nature of our boarders, proliferation of arms, non-compliance with the rule of law. The effects are also there – underdevelopment, poverty, hunger, insurgency, militancy, youth restiveness, kidnapping, armed robbery, fear, drug abuse, political thuggery, etc. As part of the way out of this, this paper suggests that ‘career’ (technical) education be emphasized rather than the ‘degree’ (non-technical) education. Civics as a subject should be restored in the primary school curriculum; the country be restructured as demanded by most of the populace, community policing introduced and supported; rule of law and quality leadership firmly established and spirit of nationalism enshrined in the minds of the citizenry.

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Achebe, C. (1983). The Trouble with Nigeria, Fourth Dimension Publishers, Nigeria.

Achumba, I. C. et al. (2013). Security Challenges in Nigeria and the Implications for Business Activities and Sustainable Development, Journal of Economics and Sustainable Development, Vol. 4, No. 2.

Adagba, O. et al. (2012). Activities of Boko Haram and Insecurity Question in Nigeria, Arabian Journal of Business and Management Review, Vol. 1, No. 9.

Adele, J. (1985). Federalism, the Constitutional State and Ethnic Conflict in Nigeria. The Journal of Federalism, 15 (1).

Adeola, G. L. & Oluyemi, F. (2012). The Political and Security Implications of Cross Border Migration between Nigeria and Her Francophone Neighbours, Internal Journal of social Science Tomorrow, Vol. 1, No. 3.

Akin Ibidapo-Obe (2008). The Utility of Close-Circuit Television (CCTV) in Intelligence Gathering by Security Operatives in Nigeria. Proceedings of Conference on Intelligent security, Lagos.

Aliyu, A. (1998). Nigeria Economic Breakthrough: The Abacha Strategies. Abuja: The Family Economic Advancement Programme.

Campbell, A. J. (2009). Underdevelopment and Development Challenges in Nigeria. Lagos. Mac Evans Publishers.

Egbefo, D. O. & Salihu, H. A. (2014). Internal Security Crisis in Nigeria: Causes, Types, Effects and Solutions in Internal Journal of Arts and Humanities (IJAH), Vol.3, no. 4.

Eghosa, E. O. (1988). The Complexities of Nigerian Federal Character and the Inadequacies of the Federal Character Principle in Nigeria. Journal Of Ethnic Studies, 16 (5).

Ewetan, O. O. & Ese, U. (2014). Insecurity and Socio-Economic Development in Nigeria, Journal of Sustainable Development Studies. Vol. 5 No. 1.

Hazen, J. M. & Horner, J. (2007). Small Arms, Armed Violence, and Insecurity in Nigeria: The Niger Delta in Perspective, Switzerland: Small Arms Survey.

Igbuzor, O. (2011). Peace and Security Education: A Critical Factor for Sustainable Peace and National Development, International Journal of Peace and Development Studies. Vol. 2 (1).

Kufor, J. (2012). Nigeria: Imbalanced Development Causes Insecurity in Nigeria, This Day Newspaper, Lagos.

Nwagboso, C. I. (2012). Security Challenges and Economy of Nigerian State (2007-2011), American International journal of Contemporary Research, Vol. 2 No. 6.

Nwanegbo, C. J. & Odigbo, J. (2013). Security and National Development in Nigeria: The threat of Boko Haram. Retrieved 5.10.2018 from www.ijhssnet.com/.../vol.../29.pdf.

Nweke, P. O. & Nwachukwu, T. S. (2014). National Security Issues and Challenges in Nigeria: Which Way forward in International Journal of Youth Empowerment and Entrepreneurship Development, Vol. 1, Issue 1.

Oche, O. (2001). Democratization and the Management of African Security. In Akindele, R. and Ate, B. (eds) Nigerian Journal of international affairs, Lagos, 13 (1).

Ojukwu, C. (1989). Because I am Involved, Spectrum Book Ltd, Ibadan- Nigeria.

Omede, J. (2012). Reformatting Nigerian Secondary and Post-Secondary education to meet unemployment and security challenges in Nigeria in the 21st century. Research Journal in Organizational Psychology and Educational studies (RJOPES). Available at http://www.emergingresource.org

Onifade, C. et al. (2013). Addressing the Insecurity Challenge in Nigeria: The Imperative of Moral Values and Virtue Ethics, Global Journal Of Human Social Science Political Science, Vol.13 Issue 2.

Soludo, C. C. (2018). The Political Economy of Restructuring the Nigerian Federation. The Sun Newspaper, 2nd August 2018.

United Nations (1998). https://www.tolerance.org>sites>default>files.tt_poverty_hl.

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write an essay on the economic situation in nigeria

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The issue of insecurity in Nigeria

write an essay on the economic situation in nigeria

A trouble is a private matter and occurs when values cherished by an individual are felt by him to be threatened, while issues have to do with matters that transcend the local environments of the individual. So when values cherished by the public are felt to be threatened, then there is an issue because that is a communal matter.

If only one man is unemployed in a city of 100,000, that is his personal trouble, and for a solution, we investigate the character of the person, his skills and his immediate opportunities, but when in a nation of 50 Million people we have 15 Million that are unemployed, that is an issue and we may not hope to find its solution within the range of opportunities open to any individual, this signifies that the very structure of opportunities has collapsed.

In the above scenario, both the correct statement of the problem and the range of possible solutions, require us to consider economic and political institutions of the society and not merely the personal situation and character of individuals.

In the early 20th century sociologists typically associated social problems such as unemployment, crime, poverty with deviant individuals. As a result when they sought to solve social problems, they focus on changing individual behaviour, although this approach is still alive today, sociologist had by and large arrived at a different understanding.

By the mid-century, sociologist turned away from an emphasis on individuals to a consideration of the social structures of nation’s organisations and institutions such as corporations, governments and the media for an understanding of the possible factors influencing social inequalities.

Sociologists has come to define social problems as problems that concern large numbers of people, have social structural causes, and require social-structural solutions. This approach remains fundamental to the sociological perspective. It was a step forward from the individualistic approach. Because by finally demonstrating that social problems have structural causes, sociologist helped to steer the people away from unproductive scape-goating of individuals to an awareness of the need for social change.

When a problem affects a large number of people, we must look beyond individuals to social structures-the larger economic, political, and social patterns of a society, we cannot solve the problems of a society that is structurally flawed by changing individuals one at a time.

We live in a world where people are increasingly interconnected and so are their problems, people in USA lose their jobs when factories are moved to nations where wages are lower. In Brazil people lose their homelands when the rain forests are cut down to make furniture for the world market, these are pointers to the need for one to look beyond what is being seen as a problem to determine its influencing factors.

For over a decade, Nigeria has been fraught with insecurity challenges, from Boko Haram and their ISWAP counterparts to Bandits and unknown gun men, in the midst of all this, the statistics of unemployed youths and graduates in the nation has been rising to an alarming rate, the basic development infrastructures like electricity to enhance the industrialization of the nation in order to create employment opportunities has been lacking, thereby crippling other efforts to drive the economic resurgence of the 7th most populous nation in the world.

It’s a fact that the issue of insecurity in the nation has invincible social sponsors like poverty and unemployment; these contributes to frustration and anger that can result to one taking to armed robbery, kidnapping or pitching tent with agitators calling for dissolution of the nation under the guise of revolutionaries thereby creating more panic in the society.

Leading nations of the world are undergoing a process of modernization, encompassing changes such as industrialization, urbanization, and growing social complexity in the modernization perspective. Insecurity in Nigeria and Imo are social problems inherent in Nigeria, and as a social problem, can be seen as failures in modernization. For example, in today’s world societies that fail to industrialize will be poor and conflict ridden. On an optimistic note, this perspective suggests that these problems can be solved through government intervention to lead society on the road to modernization.

So many of today’s social problems are global in nature, we cannot hope to solve them by focusing on individual nations, ISWAP that are recently credited with killing of Shekau the Boko Haram leader, is an offshoot of a globally recognised terrorist network.

On this premise, Senator Hope Uzodinma and other Governors facing insecurity challenges are also victims of the same circumstance with the people they govern, because the challenge cannot be resolved successfully by an individual, but with modernistic social approaches strong enough to trigger a paradigm shift among the populace, that can feed them with hope and dreams that are far better than for them resorting to violence.

The Nigerian government has to understand that insecurity in the nation requires a proactive economic plan, accompanied by a wealth of opportunities to help engage its people in productive activities that can help them to dream of a better tomorrow.

Prisons and Electric Chairs in nations like USA have not stopped the crimes associated with drugs and gun violence, so equipping Nigerian Military and Police Force with exotic weapons will not end insurgency faster than creating an enabling environment that will help the people to dream would.

The Insecurity in Imo and its concomitant hazards that has been successfully arrested as a situation was inherited from Nigeria by Senator Hope Uzodinma, the Unknown Gun-men issue is related to other inherent negative social factors in other parts of Nigeria as well as other nations outside of Nigeria.

The best he can do for Imo and his people is to create a wealth of opportunities like he is doing, recently he empowered 15,000 Imo youths with a seed of 250,000 Naira each, after completing their entrepreneurial skills. That is a good step in the right direction but will not end the issue until the entire political leadership of Nigeria accelerate the steps towards industrialization, and create not just opportunities but an enabling environment to help their people dream differently.

Insecurity in Nigeria is not a national problem as most people think but rather trans-national, Nigeria need to look beyond its borders for insurgents, as well as overhauling its economic plan to totally eliminate this visible and invisible enemy.

Senator Hope Uzodinma as Governor of Imo State is innocent just like every one of us that has not chosen violence, guns and grenades as means of conversing with our fellow Nigerians. Leadership sometimes comes with tough and unpleasant decisions and the Governor has not retreated from them having consistently chosen the ones that serve the interest and safety of Imo people first.

Before we start apportioning blames and looking for whom to fault for the uncertainties that has ravaged our communities in this short time, we need to remember that we are citizens in a global world that we do not control. Insecurity in Nigeria and Imo, are social problems that unemployment, poverty of opportunities and lack of basic amenities to enhance the survival of an individual will remain its unseen sponsors.

In this article

  • Hope Uzodinma
  • Insecurity in Nigeria

write an essay on the economic situation in nigeria

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Essay on Nigeria My Country

Students are often asked to write an essay on Nigeria My Country in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Nigeria My Country

Introduction to nigeria.

Nigeria is a country in West Africa. It is known for its rich culture and many languages. The land has forests, mountains, and rivers. Many people live in Nigeria, making it Africa’s most populated country.

Nigerian Culture

The culture in Nigeria is colorful. People enjoy music, dance, and art. They celebrate festivals with joy. Clothing is often bright and beautiful. Nigerian food is tasty and includes rice, soups, and spices.

Places in Nigeria

Nigeria has exciting places to see. There are big cities like Lagos and natural spots like the Zuma Rock. Visitors like to see the wildlife and markets too.

Nigeria faces some problems. Not all children can go to school, and keeping the environment clean is tough. Leaders are working to solve these issues.

Nigeria is a country with friendly people and a strong spirit. It is full of life and has a future full of promise. It is a place many call home with pride.

250 Words Essay on Nigeria My Country

Nigeria is a country in West Africa. It’s known for its colorful culture, rich history, and natural beauty. With over 200 million people, it’s the most populous country in Africa and the seventh in the world.

Land and Nature

The land in Nigeria is very diverse. There are sandy beaches, large rivers, and even forests. The country also has a lot of wildlife, including elephants and lions. Nigeria’s weather is mostly hot since it’s close to the equator, but it also has rainy and dry seasons.

Culture and People

Nigeria is home to many different groups of people. Each group has its own language, traditions, and festivals. Music and dance are very important in Nigerian culture. The country is famous for its Nollywood film industry, which is one of the largest in the world.

Nigeria has a lot of natural resources like oil and gas. These resources play a big role in its economy. Agriculture is also important; many people farm products like cocoa and peanuts.

Nigeria faces some challenges, such as making sure everyone has enough food and access to education. The country is working to solve these problems and make life better for its people.

Nigeria is a country with a lot of diversity and potential. Even though it has challenges, its rich culture and natural resources make it a unique and important part of the world.

500 Words Essay on Nigeria My Country

Nigeria is a country located in West Africa. It is known for its rich history, diverse cultures, and natural resources. With over 200 million people, Nigeria is the most populous country in Africa and the seventh most populous in the world. The land is full of life and color, with many languages spoken and various traditions practiced.

Geography and Climate

The country has a varied landscape that includes beaches, mountains, forests, and deserts. The climate is tropical, with rainy and dry seasons that change depending on the area. The southern part of Nigeria is mostly wet and green, while the north can be hot and dry. This makes Nigeria home to a wide range of plants and animals, some of which are found nowhere else on Earth.

Nigeria’s culture is a tapestry of the many ethnic groups that live there. The country has over 250 ethnic groups, with the Hausa, Igbo, and Yoruba being the largest. Each group has its own customs, language, and way of life. Music and dance are important in Nigerian culture, with traditional beats like Afrobeat and Highlife being popular. Nigerian movies, known as Nollywood, are famous across Africa and tell stories that reflect the lives of the people.

Nigerian food is as diverse as its people. Dishes are often made with rice, beans, and yams, and are seasoned with spices that make them flavorful. Some popular foods include jollof rice, a spicy dish made with tomatoes and rice, and suya, which is grilled meat with a tasty spice rub. These foods are not just tasty but also a way to bring people together, as meals are a time for family and friends to share stories and enjoy each other’s company.

Nigeria has a growing economy that is one of the largest in Africa. It is rich in resources like oil and natural gas, which are important for the country’s wealth. Agriculture is also a key part of the economy, with many people working in farming to grow crops like cocoa, peanuts, and palm oil. Nigeria’s markets are full of life, with people buying and selling goods every day.

Like any country, Nigeria faces challenges. Some areas have to deal with poverty and not having enough schools or hospitals. There are also times when different groups disagree, leading to conflict. Despite these issues, many Nigerians are working hard to make their country a better place, focusing on education, health, and peace.

Nigeria is a country with a heart full of rhythm and a spirit that shines. Its landscapes are breathtaking, its cultures are vibrant, and its people are strong and resilient. Even with the difficulties it faces, Nigeria continues to move forward, building a future that honors its rich past and looks ahead with hope. For many Nigerians, their homeland is more than just a place on the map—it is a part of who they are.

That’s it! I hope the essay helped you.

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write an essay on the economic situation in nigeria

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