Economic Development In Nigeria

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1.1 BACKGROUND TO THE STUDY The level of development and poverty situation in Nigeria is quite disturbing. Both the quantitative and qualitative measurements attest to the growing incidence and depth of poverty in the country. The UNDP Human development index ranks 152 out of a total of 187 countries surveyed in 2013, with a life expectancy of 52.5 years and over 45 percent of the population living below the poverty line (UNDP, 2015). Asian countries, such as Singapore, Indonesia, Sri Lanka, India and Malaysia, were in the same economic league with Nigeria in the 1960's with similar colonial legacy and natural resource endowments. Today however, these have recorded significant successes in, the development of their economies. Singapore, at…show more content…
Jhingan,( 1997). It is not an uncommon saying that no country can grow without adequate development of its human resources Human capital accumulation has been described as a strategic stimulant capable of contributing to more efficient management and development of the national economy. (Cypher, J. M. and Dietz, J. L, 2004). There is no doubt that Nigeria is endowed with enormous human and natural resources which if efficiently harnessed and managed will ensure that Nigeria's immense potentials are realized. It is sad that after over fifty years of nationhood, Nigeria is still in the league of the least developed nations of the…show more content…
The immediate impact of this can be seen in destruction of live and physical property.it is estimated that civil war and internal violence has killed three times as many people than war between states since World War II (Miguel, Edward, Shanker Satyanath, and Ernest Sergenti. 2004). This has been gaining attention by economists of late and, there is needs to study and understand gain in-depth insight the long lasting effect that is impacted on human capital accumulation and ultimately economic development. This study will focus on the period between 2000 and 2015. During this period, outbreaks of violent conflicts between indigenous people and nomadic Hausa/Fulani settlers affected parts of Plateau, Benue and Nasarawa States, all in the Middle belt region. The internal violence in Nigeria transgressed to the North Eastern Region when in 2009, the jihadist rebel group Boko Haram started an armed rebellion against the government of Nigeria which has resulted to the loss of more than 10,000 displacement of millions(wikipedia,2015). The increasing tide of violent calls studies to establish the impact on human capital and development of areas affected. This work is important because in most cases, a lot of emphasis is placed on the immediate humanitarian crisis in the aftermath of violent crisis. This include sheltering and feeding the
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