Appraising the Efficacy of the National Economic Empowerment and Development Strategy (Needs) as Policy Intervention in Nigeria (2003-2007)

Sunday Abayomi Adebisi, Abiodun Adebowale Oyedele, Christo Gbenga Adelakun

Abstract


This study appraised the efficacy of the National Economic Empowerment and Development Strategies (NEEDS) as policy intervention in Nigeria. The study adopted mixed methods. Using convenience sampling method, 240 citizens were randomly selected public and private institution in Ogun State. Comparatively, mean analysis was adopted in analyzing the percentage mean of the secondary data collected while self-designed questionnaires were used to elicit responses as primary data for the study. The instrument used for data collection was a self-designed questionnaire with a test-retest correlation coefficient of 0.86 for the reliability test. The study generated four research questions and four hypotheses were tested at 0.05 level of significance. The result of the hypotheses indicated that: (i) NEEDS policy was not effective objectively on the targeted growth and development indicators (GDI). (ii) The study also revealed that there were no significant differences after the intervention of NEEDS. (iii) Based on the findings of the study, it was inferred that NEEDS produces no significant differences on GDI. It was therefore recommended that thorough appraisal of the previous and existing policies should be undertaken before the formulation of new one in order to ascertain the reason for its ineffectiveness, failure, need for replacement and sustainability methods for subsequent policy after implementation.

 

Key words: Efficacy; Appraisal; GDI; Sustainability; NEEDS

References


Afolayan, B. (1998). Macro Economics, Indemac Limited.

Akpobasah, M. (2004). The development strategy for Nigeria. A paper presented at the overseas development/Nigeria Economic Summit Group Meeting on Nigeria. London

Bamiduro, J.A. and Babatunde, S. T. (2006). NEEDS: Prospects and Challenges for Nigeria. Journal of Economics and Financial Studies, Adekunle Ajasin University, Akungba Akoko, Ondo: logos-universal Publishers Inc. p.123

Danladi, A. and Naankiel, P.W. (2016). Structural Adjustment Programme in Nigeria and its implication on Socio-Economic Development, 1980-1999, The Calabar History Journal, 6, 2, University of Calabar, Calabar, Nigeria.

Effoduh, J. O. (2015). The Economic Development of Nigeria from 1914 to 2014. Journal of Council on African Security and Development.

Egonmwan, J.A. (1991). Public Policy Analysis Concept and Application. Benin City: Resyin (Nig.) Company

IDA and IMF (2006). Poverty Reduction Strategy Paper Joint Staff Advisory Note.

International Journal of Economics and Financial Research. 3(5), 65-75.

Obasanjo, A. O. (2004). An address delivered during the lunching of the NEEDS at the presidential villa, Abuja, Nigeria.

Okojo-Iweala, N. (2013). Nigeria: Background to economic reforms. Vanguard Nigeria Newspaper,www,vanguardngr.com/2012/11/nigeria-background-to-economic-reforms/ amp

Okojo-Iweala, N. and Osafo-Kwaako, P. (2007). Nigeria's Economic Reforms: Progress and Challenges, Brooking Global Economic Development

Okonkwo, C. Eze (2014). NEEDS and Labour in Nigeria, 2003-2007, Journal of Good Governance and Sustainable Development in Africa 2. 2

Otoghagua, E. (2007). Trends and contemporary issues on regimes of Nigerian heads of state policies and politics achievements and failures. 3rd edtn., Benin City: Research Knowledge and Educational Services, Nigeria.

Soludo, C.C. (2004). Debt, Poverty and Inequality: Toward an exit strategy for Nigeria and Africa. Trenton: Africa World Press

Ugoani, J.N.N. (2017). Examination of the Impact of NEEDS on Poverty Reduction in Nigeria.

Umeh, C.A. (2015). Economic Growth without Development in Nigeri


Refbacks

  • There are currently no refbacks.