Nigeria has for long been regarded as the poster child for the ‘curse’ of oil wealth. Yet despite this, Nigeria achieved strong economic growth for over a decade in the 21st century, driven largely by policy reforms in non-oil sectors. This open access book argues that Nigeria’s major development challenge is not the ‘oil curse’, but rather one of achieving economic diversification beyond oil, subsistence agriculture, informal activities, and across its subnational entities. Through analysis drawing on economic data, policy documents, and interviews, Usman argues that Nigeria’s challenge of economic diversification is situated within the political setting of an unstable distribution of power among individual, group, and institutional actors. Since the turn of the century, policymaking by successive Nigerian governments has, despite superficial partisan differences, been oriented towards short-term crisis management of macroeconomic stabilization, restoring growth and selective public sector reforms. To diversify Nigeria’s economy, this book argues that successive governments must reorient towards a consistent focus on pro-productivity and pro-poor policies, alongside comprehensive civil service and security sector overhaul. These policy priorities, Nigeria’s ruling elites are belatedly acknowledging, are crucial to achieving economic transformation; a policy shift that requires a confrontation with the roots of perpetual political crisis, and an attempt to stabilize the balance of power towards equity and inclusion. The eBook editions of this book are available open access under a CC BY-NC-ND 4.0 licence on bloomsburycollections.com. Open access was funded by The Carnegie Endowment for International Peace.
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Description Acronyms and Abbreviations Glossary Nigerian Leaders and Heads of State Since Independence Nigerian States by Geo-Political Region Acknowledgements Chapter 1 – The Challenge of Economic Diversification Chapter 2 – Economic Diversification: Concept, Application and State-Market Relations Chapter 3 – Unpacking Politics: Power, Actors, and Institutions Chapter 4 – The Economic and Political Transition to Becoming Africa’s Top Oil Producer Chapter 5 – The Economic and Political Transition to becoming Africa’s Largest Economy Chapter 6 – The Successful and Failed Policy Choices of Becoming Africa’s Largest Economy Chapter 7 – Lagos: The Political Foundations of Economic Diversification in Nigeria’s Commercial Capital Chapter 8 – Kano: The Political Foundations of Nigeria’s Failed Agro-Industrial Transition Conclusion References
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This book ably demonstrates that what is seemingly absurd and contradictory about Nigeria has to be traded carefully with the results an investigative and inquisitive mind may find. In a country of paradoxes only a few can offer us plausible and documented explanations as to why you can be the largest oil producer or economy of an entire continent and fail to convincingly diversify its economy. An exciting read for all those struggling to explain structural transformation slow pace in Africa.
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Argues that Nigeria’s major development challenge is not an ‘oil curse’, but one of achieving economic diversification beyond oil, subsistence agriculture, informal activities and across its subnational entities.
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Shows how a fractious political environment led to specific policy choices which liberalized industries such as trade and mobile telecommunications, but did not diversify or industrialize the economy
This series of books seeks to provide accessible but in-depth analysis of key contemporary issues affecting countries across the African continent. Featuring a wealth of empirical material and case study detail, and focusing on a diverse range of subject matter – from conflict to gender, development to the environment – the series aims to give scholars a platform to present original and often provocative arguments.
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Produktdetaljer

ISBN
9781786993953
Publisert
2023-12-28
Utgiver
Vendor
Zed Books Ltd
Høyde
234 mm
Bredde
156 mm
Aldersnivå
P, 06
Språk
Product language
Engelsk
Format
Product format
Heftet
Antall sider
312

Forfatter

Om bidragsyterne

Zainab Usman is the director of the Africa Program at the Carnegie Endowment for International Peace in Washington, D.C., USA. She is a political-economist working at the intersection of institutions, policy and politics in economic development, energy, natural resources and the future of work.