This research work, “Critical analysis of the performance of the
National Economics Empowerment and Development Strategy (NEEDS) on the
Nigeria Economy, (A Case Study of Enugu State)” seeks to look at the
major causes of Nigerians Economic Misfortunes and his is greatly
attributable to the poor industrial capacity utilization, massive
unemployment and underemployment, high late of inflation, high poverty
rate, poor wealth distribution, Mono-cultural economy (oil) high rate of
corruption, etc. The main objectives of this research are to find out
if NEEDS has made any impact on the Enugu State and to analyses such
impacts. To achieve the above stated objectives, a systematic research
methodology was adopted. Good research questions were used on the sample
such as the government, the private sectors, and the public and donor
communities. From the data gathered here, it was discovered that in as
much as the government has been playing its economic development role
fairly well by adopting several failed economic reform programmes in the
past, the economic debacle of Nigeria persists and this case for NEEDs.
In this research work the simple size is 40 and the sampling techniques
is random sample used as probability proportionate i.e. 50 and methods
of data collecting is questionnaire, Interview etc. Based on the
findings of this study, the following recommendations were made amongst
others, (i) The level of awareness of NEEDs is too low that over 70% of
the country’s populations one yet in the dark about it. (ii) The
institution responsible for the implementation of NEEDs should be headed
by well-qualified citizens of Nigeria with remarkable integrity.
This chapter is talking all about (NEEDs). National Economics
Empowerment and Development Strategy. NEEDS is Nigerian’s plan for
prosperity. It is a way of letting the international communities know
where Nigeria stands in the region and in the world and how it wishes to
NEEDS is the people’s plan. It is up to regular Nigerians as well as government to see that it is implemented.
1.1 Background of Study
Nigeria is a large nation
with a population or about 120 million people made up of three main
ethnic groups: Hausa, Yoruba and Ibo, plus many other minor tribes.
Nigeria gained her independence in 1960 and become a republic in 1963.
Since then, the country has been involved in development policies as a
deliberate and calculated method for mobilizing her resources with the
hope of improving the material well-being of her citizenry. It is worthy
of note that since the attainment of political independence in 1960,
five national development plans (1962-1968, 1970-74, 1974-80, 1981-85
and 1968-2010) where launched at different period but without resounding
success (Saleman 1998:3).
This situation can be attributed to lack
of the main ingredients required for the success not these
developmental, efforts, which included political stability social,
Economic, Educational and Industrial advancement are lacking in the
Nigeria has a large deposit of oil, gas and solid
Minerals and skilled workforce. Apart from these, Nigeria has not been
able to effectively control its endowment to develop the economy
sufficiently to improve the welfare of his people. With a computed
population growth rate of 2.8% and a GDP growth rate of about 2.5% per
capital income growth was negative for the greater part of the 1990s.
Nigerians urbanization is one of the highest in the world, leading to
loss of strong labour force for Agriculture. In addition the rate of job
creation has been far less than the rate of growth of the urban labour
force. This connected with an education system that is not attended to
the population of the proper manpower required to support well growth
has led to high levels of unemployment and underemployment. In Nigeria,
oil currently is about 75% of government speedy growth of the industrial
sector led to investment in some projects which turned out to be “white
According to Akpabash, 2004, Nigeria contributes about
30% of Gross Domestic Profit but employs only about 3% of the available
labour force. The two reasons for this development is not far fetch
firstly, the ability to design such project was lacking. Secondly, the
soft loans required diminish of oil prices in the early century.
provide the background for the new started economy improvement agenda,
the Nation Economics Empowerment and Development Strategy (NEEDS).
During the regime of obasanjo’s, it has also taken other the measures
such as the establishment of an independent corrupt practices commission
(ICPC) the Economic and financial crime commission (EFCC) and due to
process office to screen contracts sooner to execution.
1.2 Statement of Problem
The National Economics
Employment and Development Strategy (NEEDS) came into takeover from the
former structural adjustment programmes (SAP) which as introduce
according to Babangida’s administration in 1986 which emphasizes. The
National Economics Empowerment and Development Strategy (NEEDS) Intend
to correct the negative impacts of the SAP on the country economic
growth, which has led to an unprecedented social dislocation. The
Mono-cultural economy practiced by Nigeria that is oil, has depressed
other beneficial and elastic sector, sector, as economy now depends on
oil as its major engine of growth and source of government revenue.
According to Umar, 2005 summarized the problems of Nigeria economy.
Galloping inflation that rate is freely.
Embarrassing the need rate.
Poor wealth distribution.
Gigantic unemployment and underemployment.
Poor industrial capacity utilization etc.
this note the researchers intend to critically investigate the
performance of National Economics Empowerment and Development Economy.
1.3 Objectives of the Study
The main goals in
this research work are to ascertain if National Economics Empowerment
and Development Strategy (NEEDS) has made any impact on the Nigerian
economy, and to analysis such impacts.
The major objectives are:
(i) To ascertain the condition of the
Nigerian economy before the invention of National Economic Empowerment
and Development Strategy (NEEDS).
(ii) To examine the possible
implementation challenges that National Economics Empowerment and
Development Strategy (NEEDS) may encounter.
(iii) To estimate the performance of NEEDS so far.
(iv) To critically analyse the features of National Economics Empowerment and Development Strategy (NEEDS)
(v) To make meaningful recommendation
1.4 Significance of the study
This project work
is carried out in partial fulfillment of the requirements for the award
of the Nigerian Certificate in Education.
This work will be great help to future researchers who will carryout their own investigations in the subject area.
This work will help Nigerians in understanding the working of the economy and how to better it.
work will be helpful in restoring public confidence on NEEDS and
support people to it through opinion pools, suggestions and contribution
by accepting the NEEDS as a genuine remedy to the current in conducive
and in clement Economic conditions.
1.5 Research questions
(i) How do you compute the role of the Nigerian government in developing the nation’s economy?
(ii) How do you assess the performance of the Nigerian economy before the invention of NEEDS?
(iii) Can NEEDS really salvage the Nigerian Economy?
(iv) Are there possible implementation problem(s) that?
(v) Is it true that the several reform optional adopted in the past by the government were ineffective?
1.6 Scope of the study
The region of this project
is Enugu. The research is to determine if NEEDs can be used as a
measure to revitalize the falling economy of Nigeria.
1.7 Limitation of the study
A study of this
nature cannot be carried out without difficulties in the process. An
important constraint is the time constraint. This research work was
carried out simultaneously with other class work and examination and the
research were compiled with a very short period of one year.
constraint is finance, a research of this nature involves traveling to
various states nationwide so as to search for adequate data (raw
materials). NEEDs is a new programme and as such have not text books and
a few articles written on it.
NEEDS being new in Nigeria has not
gained popularity and consequently offered only a few people as
respondents to the questionnaires distributed.
Lastly, difficulty in securing relevant data for the study.
1.8 Definition of terms
To master NEEDS properly,
it is pertinent that we understand the words used informing the
“National Economics Empowerment and Development Strategy”.
According to Ude and shaibu (2003) defines-
(i) Economic growth as the increase in the quantity of goods and services produced in a country over a year.
Economic development is all about the maturity of the quality and
quantity of goods services produced in a country over a year.
additional by the above definition “goods are products of the private
sector or the public sector. Private sector is the industries under
government control while public sector is the industries under
government that are tangible, services represents control that are
tangible, services represent the products of the private or public
sector that are intangible or invisible. E.g. Banking, Insurance,
(iii) Empowerment: According to Chibueze 1996,
defined Empowerment involves equipping one with the authority in ones
society. Empowerment is synonymous with capacity or enablement.
Strategy: the Longman (1995) defined a strategy as “Well planned series
of action for achieving an aim, especially success against an opponent.
consolidated of the above headings reveals that NEEDS can be defines as
a well-planned series of actions for achieving a maturity of the
quantity of goods and services produced in Nigeria by Nigerians.