Global Advanced Research Journal of Social Science (GARJSS)
July 2013 Vol. 2(7), pp. 143-157
Copyright © 2013 Global Advanced Research Journals

 

Review

Challenges facing the achievement of the Nigeria vision 20:2020

Olumide S. Ayodele*, Frances N. Obafemi and Friday S. Ebong

Department of Economics, University of Calabar, Calabar, Nigeria

*Corresponding Author E-mail: ayodeleolumide@gmail.com; Phone: +234 8064 010 500

Accepted 30 July, 2013

Abstract

Nigerian is blessed with abundant human and natural resources, including vast fertile soil and pleasant climate suitable for agriculture. Thus, the country has the potential to build a prosperous economy. If well harnessed and utilised, these endowments are capable of transforming the economy to be among the industrialised economies of the world in no distant future. Unfortunately, Nigeria is yet to realise this potential. Several efforts have been made to produce a suitable framework for socio-political and economic development in Nigeria. The latest being the country's vision of becoming one of the World’s 20 largest economies by 2020. This paper appraise the strategies articulated in the NV20:2020 blue print and suggest measures necessary for the realization of the vision drawing from the lessons of experience in the implementation of previous development plans and the experiences of South East Asian countries in vision design and execution. Considering these experiences and key issues of concern in the strategies for achieving the vision, the paper recommends that citizenship needs to be emphasized above ‘indigeneship’ and that the leadership need to carry the people along for the actualization of the vision. On this, the administration must act in ways that would earn the people’s trust. In addition, Nigeria needs to demonstrate greater control of the economy, especially the oil and gas sector. Hence, the Local Content Act needs to be effectively implemented to achieve this. It is also considered critical to make the non-oil sector investment climate conducive to transform the areas into sources of employment and revenue in the country. More importantly, the neglect of the agricultural sector needs to be addressed and the land law reform legislation need to be effectively implemented to make more land available to farmers. The paper also emphasizes the need for collaboration between security organizations in the country for more effective crime control. It also suggests that sub-national governments be given more fiscal authority in terms of expenditure allocations and revenue management.

Keywords: Economic Development, Development Plan, Sustainable Economic Growth, Vision 2020.

 

Related Articles


Review
Orusha JO, Chikaire J, Onogu B, Tim- Ashama A, Alukogu CT, Ohuaka P and Nwaigwe MO
Integrating climate change issues into agricultural education teaching and learning in Nigeria
Glo. Adv. Res. J. Soc. Sci June 2012 Vol: 1(5): - [Abstract] [Full Text - PDF] (188 KB)
Original Research Article
Xue Ming Yang
Relationship between annual electricity production kwh and physical GDP US dollar per capita An empirical index for measuring the level of economic development of a nation
Glo. Adv. Res. J. Soc. Sci November 2014 Vol: 3(11): - [Abstract] [Full Text - PDF] (229 KB)
Review
Ezat Sabir Esmaeel and Sabah Mahmmud saeed
Decentralization in Public Administration in Central and Eastern Europe
Glo. Adv. Res. J. Soc. Sci August 2014 Vol: 3(8): - [Abstract] [Full Text - PDF] (117 KB)
Original Research Article
Ibun Kombo
Persistence of gender imbalance in local government authorities’ leadership in Tanzania: (A case study of Dodoma Municipality)
Glo. Adv. Res. J. Soc. Sci April 2012 Vol: 1(3): - [Abstract] [Full Text - PDF] (189 KB)
Reviews
Sher Ali1, Dr Abdur Rauf, Amjad Ali
The Impact of Globalization on Real Exchange Rate in Pakistan 1980 to 2014
Glo. Adv. Res. J. Soc. Sci December 2015 Vol: 4(11): - [Abstract] [Full Text - PDF] (130 KB)
Teshome A
Meles Development Paradigm and Its Impacts on Economic Transformation in Ethiopia
Glo. Adv. Res. J. Soc. Sci December 2012 Vol: 1(11): - [Abstract] [Full Text - PDF] (285 KB)

Current Issue

Viewing Options

View Full Article - PDF
Download Full Article - PDF

Search for Articles

Olumide S Ayodele on Google Scholar
Olumide S Ayodele on Pubmed
Frances N Obafemi on Google Scholar
Frances N Obafemi on Pubmed
Friday S Ebong on Google Scholar
Friday S Ebong on Pubmed

Statistics

Viewed 815
Printed 344
Downloaded 11871
Powered By iPortal Works