ABSTRACT
The incessant development crisis that enveloped the post-colonial Nigerian state amidst
externally and internally oriented policy prescriptions coupled with the abundant material and
human resources within her territory, has continued to elicit contentions among scholars and
policy-makers. With the transition of Nigeria from the military to democratically elected
government in 1999, the then President Olusegun Obasanjo through the instrumentality of the
IMF sponsored National Economic Empowerment and Development Strategies (NEEDS)
adopted and implemented among other things, the deregulation and trade liberalization
reforms, which was touted as a panacea for reconciling the development deficit in the
country. It is in this connection that our study was saddled with the responsibility of
interrogating the nexus between the adoption and subsequent implementation of the IMF
induced reforms and the persistent development crises in Nigeria in the context of the
following questions: 1. Has the adoption of IMF imposed deregulation policy reduced the
Human Development Index in Nigeria between 2000 and 2014? 2. Has the implementation of
IMF policy of liberalization of trade increased the unemployment rate in Nigeria between
2000 and 2014? The study relied heavily on the documentary method of data collection.
However, with the aid of the blended Economic Structuralism and Economic Nationalism
analytic approaches combined with the qualitative descriptive method of data analysis, the
study argued that the adoption of deregulation and trade liberalization reforms were
implicated in the development crisis in Nigeria which manifested in terms of decline in HDI
and increase in unemployment rate. As a corollary of the above, the study recommended for
the implementation of two-phased development plan and resort to regional integration
development strategy as practical solutions to the persistent development challenges of
Nigeria.
ELIJAH, N (2021). International Monetary Fund And Crisis Of Development In Nigeria, 2000-2014.. Afribary. Retrieved from https://afribary.com/works/international-monetary-fund-and-crisis-of-development-in-nigeria-2000-2014
ELIJAH, NNAMANI "International Monetary Fund And Crisis Of Development In Nigeria, 2000-2014." Afribary. Afribary, 14 May. 2021, https://afribary.com/works/international-monetary-fund-and-crisis-of-development-in-nigeria-2000-2014. Accessed 06 Oct. 2024.
ELIJAH, NNAMANI . "International Monetary Fund And Crisis Of Development In Nigeria, 2000-2014.". Afribary, Afribary, 14 May. 2021. Web. 06 Oct. 2024. < https://afribary.com/works/international-monetary-fund-and-crisis-of-development-in-nigeria-2000-2014 >.
ELIJAH, NNAMANI . "International Monetary Fund And Crisis Of Development In Nigeria, 2000-2014." Afribary (2021). Accessed October 06, 2024. https://afribary.com/works/international-monetary-fund-and-crisis-of-development-in-nigeria-2000-2014