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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Why Is Nigeria -- The “Giant of Africa” -- Still Poor?
Author(s): Ira Sohn
Citation: Ira Sohn, (2020) "Why Is Nigeria -- The “Giant of Africa” -- Still Poor?," Journal of Applied Business and Economics, Vol. 22, Iss.5, pp. 11-41
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This paper begins with a short review of the issues cited by Africa scholars to explain the relative lag in economic development in Sub-Saharan Africa, which includes Nigeria. Next, some vital statistics of Sub-Saharan Africa and Nigeria are provided, followed by a brief review of Nigeria’s pre- and postindependence history. The second part -- the heart of the paper -- examines the major long-term issues that are adversely impacting the growth in living standards in Sub-Saharan Africa, with particular attention to Nigeria: demography, urbanization, insufficient infrastructure, regional, ethnic and religious stresses, over-reliance on commodities to finance indispensable government services such as education and health, and the poisonous effects of widespread public and private corruption.
