Economic Diversification for Sustainable Development in Nigeria

HTML  XML Download Download as PDF (Size: 253KB)  PP. 87-94  
DOI: 10.4236/ojps.2015.52010    9,707 Downloads   15,020 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.

Share and Cite:

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.

Copyright © 2024 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.