Economic Diversification for Sustainable Development in Nigeria

DOI: 10.4236/ojps.2015.52010   PDF   HTML   XML   6,321 Downloads   7,850 Views   Citations

Abstract

Nigeria operates mono commodity (petroleum) based economy. She just extracts the oil for export. The generated revenue is not effectively invested on diversification of the economy to develop a robust and stable economy. This is due to some socio-political challenges that border on individual interests and poor socioeconomic orientations that militate against industrialisation of the economy. The situation exposes the nation to both economic and socio-political instability as the economy fails to accommodate wide spectrum of people and sustain the basic needs of the populace. Nigeria should pragmatically address the challenges of poor industrialisation to diversify her economy.

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Anyaehie, M. and Areji, A. (2015) Economic Diversification for Sustainable Development in Nigeria. Open Journal of Political Science, 5, 87-94. doi: 10.4236/ojps.2015.52010.

Conflicts of Interest

The authors declare no conflicts of interest.

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