Economic Diversification in Nigeria

The Politics of Building a Post-Oil Economy

Economic Diversification in Nigeria cover

Economic Diversification in Nigeria

The Politics of Building a Post-Oil Economy

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Description

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 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.

Table of Contents

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

Product details

Published May 19 2022
Format Ebook (Epub & Mobi)
Edition 1st
Extent 288
ISBN 9781786993977
Imprint Zed Books
Series Politics and Development in Contemporary Africa
Publisher Bloomsbury Publishing

About the contributors

Author

Zainab Usman

Zainab Usman is the director of the Africa Program…

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