The Need For Economic Planning In Nigeria The Need For Economic Planning In Nigeria

Abstract

Since independence, Nigeria has embarked on series of National Development plans and visions in her endless efforts to search for appropriate development strategy. It is worrisome that these development plans and visions have failed to achieve their expected objectives. This is evident from widespread poverty, dilapidated infrastructure, massive unemployment, high incidence of diseases and excessive debt burden among others. Therefore this study aims to examine critically various development plans in Nigeria and identify those problems that hinder successful implementation of development plans in Nigeria. Needs is not only a macro-economic plan document, but also a comprehensive vision, goals and principles of a new Nigeria that would be made possible through four key policies of wealth creation, employment generation, poverty eradication and value reorientation. This paper is a reflection on NEEDS. Using historical and content analysis methods, the paper explores common indices of development planning in the country. Based on the findings that development plans have been accepted as a suitable strategy to address development challenges in Nigeria, this study concludes that the efficacy of our national development plans would be enhanced and serve as a viable instrument of sustainable development if the problems that confront the National Development plans are properly addressed.