Analysis of the Nexus between Political and Economic Transitions in Nigeria

Abstract

The Nigerian society has historically come a long way from the colonial to post-independence eras.  Moreover, major concerns of Nigerian governments are to achieve socioeconomic and political progress of the people. Towards achieving these goals, Nigeria has designed, developed, adopted and executed numerous policies and programme aimed at political democratization and economic liberalization. Adopting qualitative research approach to mainstream the political and economic transitions in Nigeria using documentary data from literature, reports, records etc., this study revealed that political instability and people’s participation in governance through effective democratic means were cynosure of government and administrations in the political transition while employment creation and poverty eradication have featured prominently in all the economic plans and programmes by successive governments in  Nigeria’s economic transition. The study recommended deepening political democratization, political stability, guided economic liberalization policies and programmes and transparent fiscal federalism toward attainment of her political and economic aspirations.

Keywords: Economic Transitions; Democracy; Liberalization; Nigeria and Political Transition