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THE IMPACT OF
THE NEW ECONOMIC PARTNERSHIP FOR AFRICAN DEVELOPMENT (NEPAD) ON THE NIGERIA
ECONOMY.
ABSTRACT
The African
continent is described as the “black continent” for several reasons. One of
such reasons is the fact that a greater proportion of their populations are
poor, due to poverty and thus in need have help. Several administrations in
government across Africa have at one time or the other, have instituted
programmes to minimize the trend but have failed for several integrated and
isolated reasons. However, there has never been a coalition of the African
heads of state in collaboration with the west, until the initiative NEPAD.
NEPAD’s fundamental objective is to minimize if not eliminate poverty in Africa
by at least 50 percent in the next 15 years from its inception in July, 2001.
One of such ways in which it hopes to achieve this herculean task is through
the creation of viable job opportunities through direct foreign investment for
its working population in other to maximize the output of the nation’s economy
or otherwise effectively and efficiently utilize its human and natural
resources. In other to know if NEPAD has impacted on the Nigeria economy as one
of the fore runners of the programme after four years, a working hypothesis and
questions were formulated. The research setting is Port Harcourt, which was
sub-divided into dusters for adequate representation of age range and careers
respectively. Chapter two constitutes the literature review and theoretical
framework. The work as streamlined along the major theories of development, to
reveal the features and condition necessary of and for a developed economy. The
third chapter concerns itself with the method of data collection and type of
analytical tools to be used. While we were able to analyze and draw inferences
in chapter four that although NEPAD has the potential of impacting on the
Nigerian economy, it has not impacted in impacted in any way in four years of
existence. The fifth chapter is a blend of the summary, recommendation and
conclusion based on findings during the course of this work. It was however
revealed that although nepad had the potentials of aiding Africa’s development,
it has however failed to impact on the lives of the people significantly and
hence the economy.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of Contents vi
CHAPTER
ONE
1.1 Introduction 1
1.2 Statement
of problem 2
1.3 Objective
of study 3
1.4 Research
questions 5
1.5 Research
hypothesis 7
1.6 Scope
of study 8
1.7 Significance
of study 9
1.8 Organization
of study 10
CHAPTER
TWO
2.1 Literature
review 11
2.1.1
Introduction 12
2.2 Economic
development 13
2.2.1 The mainstream approach to
development 13
2.2.2 The Neo-marist approach 14
2.2.3 The man centred approach 15
2.3 Theories
of economic development 15
2.3.1 The production function based
model 17
2.3.2 The harrod dommar growth model 18
2.3.3 The lewis dual sector model 19
2.3.4 Rostows stages of growth theory
of development 21
2.3.5 The general theory of
development 25
2.4.1 The new economic partnership for
African Dev (introduction)
27
2.4.2. The Africa setting 27
2.4.4 The objectives of NEPAD 28
2.4.5
Action plans towards the achievements of the these objective
30
CHAPTER
THREE
3.1 Method
of study 33
3.2 Population
sample 33
3.3 Method
of data collection 34
3.4 Method
of data analysis 34
CHAPTER
FOUR
DATA PRESENTATION, ANALYSIS AND
DISCUSSION 36
CHAPTER
FIVE
5.1 Summary 50
5.2 Recommendation 52
5.3 Conclusion 54
Appendix A 56
Appendix B 57
Appendix C 59
Bibliography 60
CHAPTER ONE
INTRODUCTION
Poverty,
a state of depravity of a set of people unable to meet the basic necessities of
life, has been the bane of less developed countries especially in Africa.
Poverty as defined by the longman dictionary of contemporary English- new
edition, states that “it is a situation or experience of being poor on the
income below which a person or family is officially considered to be very poor
and in need of help”.
The
most widely and commonly discussed issue in the West-African sub-region in
particular and Africa in general in the past five decades, has been the issue
of under development despite several laudable policies and programmes, leading
to a high level of poverty and consequently the vicious circle of recurrent
malnutrition, illiteracy, poor health services and consequently high mortality
rate.
Several
administrations in different part of the continent at different period have
been proffering solutions to eliminate or otherwise these trends in order to
emancipate the black continent and place it at the fore front of the global
economy.
The
technical adviser to the West African monetary in institute (WAI) in a key note
address on NEPAD’s need for 8.704 trillion to fight poverty in African, in
Lagos argued that:
“NEPAD
is aimed at eradication of poverty on the African continent and to place Africa
on the path of sustainable growth and development” (business times, January 13-19, 2003 pg 25).
This
is a clear indication of the state of affairs on the African continent and the
sole objective of NEPAD. The present state of the Nigerian economy has left
less to be desired of it and only viable if it could proffer attainable
solutions to the already existing and impending problem of poverty. The
government over the years have been formulating to combat the menace. The
operation feed the nation (OFN) programme instituted in 1979 was aimed at
creating a balance for the agricultural sector during the oil boom and help
diversify the resource base of the economy and the school to land programme
(STL) nurtured in 1985 aimed at giving college graduates a career in
agriculture both failed to achieve its objective basically because of the
change in administration and the over whelming influence of crude in the
international market giving rise to the weak attraction of the agricultural
sector.
The
intervention of the international monetary fund (IMF) to assist in helping the
nation develop its infrastructures to encourage scientific and industrial
development brought about stringent measures and conditions for loan acquired
that were more or less not used for the purposes resulted in our huge external
debt to a tune of about 27 billion us dollars as at 1989. The structural
adjustment programme in 1986 was also aimed at diversifying the economy base
through the creation of viable job opportunities through increased local
industrial output; hence the restriction of importation of consumables and
capital goods that can be local sourced for and produced. This resulted in the
in favourable loan of trade and hence the depreciation of the local currency
naira, which has continually had an adverse effect on the Nigerian economy to
date.
In
view of the stack poverty and economic backwardness that has plagued the
African continent over the years; African leaders have understood the necessity
of presenting a viable and formidable front to combat the menace. In their bid
to meet this objective the organization for African unity was formed. This
organization was structured to maintain political stability and economic
integration, but failed to fulfill these objectives as it was faced with
complex challenges with the antecedent myriads of failures of developmental
programmes by African leaders, the need to build a coalition of partners within
the international community became imperative.
This
is vividly supported by and excerpt of the former President of Botswana and
Sir, Ketumile Masire’s key note address at the annual Murtala Mohammed memorial
lecture in Abuja in 2003 where he posited that:
“it
is perhaps pertinent to mention that the millennium partnership of the African
recover programme (map) and the omega plan are the basis for what was initially
known as the new African initiative (NAI) approved by the OAU summit of the
heads of state and government on 11July, 2001. On 2nd October 2001.
The NAI was transformed into NEPAD by the implementation committee of the heads
of state, under the chairmanship of his excellency President Obasanjo here in
Abuja” (The Business Times February 24,
March 2, 2003 Pag 13).
From
the foregoing, it is evident that the NEPAD programme has evolved through
series of policy initiation at the continental level and as such attracted
global attention and recognition.
Although
there are critics to the view that NEPAD holds the solution to Africans
developmental problem as argued by Yash Tandon when he posits that it’s another
body trap just like SAP by the international world communities, but this time
to allow direct foreign investment to provide for social infrastructure whereby
opening the poor masses to the influence of the international market and its
associated politics.
Also
in terms of its implementation, success being a recurrent constrain with most
African countries and especially Nigeria, it is believed that the intentions of
the African leaders are genuine and sincere but must be pursed objectively as
posited by President Olusegun Obansanjo when he state that;
“The
laudable goals of NEPAD will not succeed if we do not courageously and
comprehensively address the issues of corruption, mismanagement, waste and
misplaced priorities in our societies’ (Daily Champion December 8, 2004).
In
order to maximize the benefit accruable from NEPAD, therefore, the Nigeria
government initiated the New Economic Empowerment and development strategy
(NEEDS) programme in May 2004 with its subsidiary programmes at the state and
local government level and styled states Economic Empowerment and Development
Strategy (SEEDS) and local respectively. This is a Nigerian home grown poverty
reduction strategy programme (PRSP) structured like that of the National
Poverty Eradication programme (NAPEP) meant to help Nigerian enjoy the maximum
benefit from NEPAD. As such, its objectives are similar to those of NEPAD and
hence complementary.
The
poverty and economic backwardness of African nations is evident and cannot be
over emphasized. Over two thirds of its population live below one dollar per
day thereby placing the greater percentage of her population under the poverty
line. Mortality rate despite medial advancement is still high and the average
life expectancy rate in the content in 54 years. While illiteracy rate is very
low, unemployment is at an astronomical level and increasing by the day.
The
state of the African continent is that though she is blessed with diverse human
and natural resources, with crude in Nigeria, gold in Ghana, diamond in
Bostwana and South Africa, etc. she is still wallowing in the mire of
underdevelopment.
The
resurgence of the need by the UN to empower the Africa content, in order to
actualize its globalization objective, led to the inauguration of the New
Economic Partnership of African Development (NEPAD) in July 3, 2001. The
programme is presently speartheaded by the Nigerian and south African
government, with a major objective of reducing poverty by 50 percent by the
year 2015 as one of the millennium development goals (MDG).
Consequently,
one of the ways by which it intends to achieve this laudable goal is through
the creation of viable job opportunities for its ever-increasing population. It
is envisaged that about 7 million jobs would have been created by the year
2007, in view of the government’s determination to mobilize the private sector,
as the engine for growth. This is supported by the president of the
manufacturers association of Nigeria (MAN) Mr. Charles Ugwuh as he posits that:
“Canvasing
the pursuit of full employment in the economy, which itself a ling with needs
target”…… “it is universally accepted that the major sources of employment
generation are the agricultural and manufacturing sectors of the economy.
Consequently these two sectors must be empowered to grow” (The Guardian March
30, 2004 pg 33).
The
antecedent argument therefore forms the curst for this research work, as
employment generation is one of the formidable means by which poverty can be
eradicated or reduced in any society.
1.2 STATEMENT OF PROBLEM
Generally
from the introductory discourse, it is evident that there is a perplexing
problem with the African continent, resulting in its underdeveloped status. As
posited by Yash Tandon 2002 that though the African continent is richly blessed
and Nigeria in particular, there are yet no visible improvements in the lives
of its people. Several other programmes of development had failed such as of,
SAP, SLP, etc, mainly because of ineffectively implementation, inconsistency
and policy reversals, inadequate resources and neglect of the private sector as
a result of governments’ overbearing role in the economy.
Hence
the need to pursue this study on the impact of NEPAD, becomes imperative, to
enable us determine if it has impacted on the lives of the people and consequently
the economy. Specifically, the following problems would be considered.
i. The
problems associated with the Nigerian economy prior to the inauguration of
NEPAD.
ii. The
relevance of the policies of NEPAD is the solving of these problems
iii. The
effort or accomplishments of NEPAD in the past four years and some months of
its existence in solving these problems needs to be investigated.
iv. The
measures put in place by the Nigerian government and its citizenry to derive
maximum benefit from NEPAD.
These
and some other chains of problems have necessitated a cursory enquiry into the activities of NEPAD
and what prospects it has for the Nigeria economy.
1.3 OBJECTIVE OF STUDY
The
relevance of every research is predicated on the need to investigate empirical
issues that would did the improvement of the society and welfare of people.
Some of the objectives of the study would include.
i. Revealing
some problems inherent in the Nigeria economy that as constrained its
development.
ii. analyzing
the constraints of the Nigerian economy in the light of the objectives of NEPAD
in revealing its effectiveness in adding the Nigerian economy towards poverty
eradiation and sustainable growth and development and
iii.
assessing the achievements of NEPAD in the past four years and its impact on
the Nigeria economy towards sustainable growth and development.
1.4 RESEARCH QUESTIONS
Certain
questions would be considered in the process of carrying out this research. The
ability of the research instrument to find relevant answers to these questions
would enhance the effectiveness of this work.
Some
of the question shall include;
i. What
are the constraints to poverty alleviation, sustainable growth and development
in the Nigerian economy?
ii. what
are the objectives of NEPAD?
iii. what
can Nigerian do to benefit maximally from NEPAD?
iv. has
Nigeria benefited in any way so far?
These
and some other questions shall be reflected in the sample questionnaire to
respondents in other to achieve the objectives of this study.
1.5 RESEARCH HYPOTHESIS
The
hypothesis to be tested here shall be stated in the null form therefore, the
following null by hypothesis shall be tested.
H01:
there is no relationship between the objectives of NEPAD and the eradication of
poverty in Nigeria.
H02:
there is no relationship between the objectives of NEPAD and the achievement of
development in the Nigerian economy.
H03:
NEPAD has not impacted on the Nigeria economy, positively, so far.
1.6 SCOPE OF STUDY
The
scope of this research shall be limited to the Nigerian economy. The impact of
NEPAD on the African economy would not be considered here though its outcome
could be used in other African economy as a comparative study.
The
research shall be limited to the few literature available as at the time of this
analysis of NEPAD. This is as a result of its
nascent position as much has not been written on it.
1.7 SIGNIFICANCE OF STUDY
The
outcome of this study would be useful to the Nigerian government, policy
makers, academics and other African countries. It would enable the Nigeria
government to know the level of NEPAD’s impact on its citizen and help them
position the economy towards achieving the best from NEPAD.
Secondly,
it would help policy makers formulate appropriate economic development and
poverty eradication policies that would improve the lives of its citizens and
overall efficiency of the economy through NEPAD and make our home grown poverty
reduction strategy programme (PRSP), NEEDS succeed.
Consequently,
other African countries can emulate our success by a applying it to their
economy. This is because virtually all African countries have a peculiar
economic development problem. Finally, it would contribute to the existing
literature, data and write-up on NEPAD. It would also facilitate other research
into the activities of the NEPAD programme.
This
is the position of this research work. However it does posit to fully exhaust
the impact of NEPAD on the Nigeria economy, as it is both complex and nascent.
1.8 ORGANIZATION OF STUDY
The
research work is dividend into five chapters will the introductory chapter one
giving the framework of the study in sequence followed by statement of problem,
objective of study, research questions, hypothesis, scope of the study and its
significance chapter two gives a reviewed insight into some developmental
programmes instituted by the government since its independence in the
introductory part, followed by reviewed theories of development by various
scholars to reveal or reflect the true features of a developing state and
finally, literatures on the new economic partnership for African development.
The third chapter reveals the method of study through its population sample,
method of collecting data and the data analysis method of be sued. Chapter four
is the presentation of the data its analysis and discussion resulting from the
observations that shall be encountered during the course of this study. The
research is concluded in chapter five, reflecting the summary, recommendations
based on findings and conclusion.
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