Department of Economics

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A CASE FOR THE NIGERIAN ECONOMY
(1998) Achi Vincent Balat
he economy is the center of life of every nation. A government is judged as good based on ils economic successes and a nation is graded as belonging to the first, second and third world, based on its economic growth. The economy determines the growth in science and technology. It is no wonder that Edwin contends that Western diplomats and Nigerians as well, on seeing the size of Nigeria; the diversity and enterprise of her people in the 1960s, expressed the most optimistic hopes for Nigeria’s economic u-turn! Odiogor and Njoku reiterated this fact when they made it clear that, “Nigeria and Asian countries such as Mafaysia and Indonesia were in the same social and economic group in the 1960s".?. That made the world to envisage Nigeria as the future giant of Africa. Today, Nigeria is nothing more than a bastion of economic ruins. She has been out paced by her Asian counterparts and her citizens only live in the reminiscence of her glorious economic past. But then, is there any hope of revamping and liberating our economy tromits ruins? This work seeks to explore this question.