Book Description

Right from independence and especially, since the return to democratic governance in 1999, successive governments in Nigeria have made concerted efforts in economic and development planning. Nigeria's quest for a sustainable development roadmap has been a tortuous one since independence with various plans and policies developed to fast-track the economy. However, no meaningful change has been witnessed thus making all successive governments come up with different development blueprints on how to rejig the economy. The Buhari Administration has come up with the Economic Recovery and Growth Plan (ERGP), a Medium-Term Plan for 2017 - 2020 which built on the Strategic Implementation Plan (SIP) to restore economic growth while leveraging the ingenuity and resilience of the Nigerian people. Suffice to say that the Economic Recovery and Growth Plan (ERGP) was a medium-term, all-round developmental initiative which focused on restoring growth, investing in people and building a globally competitive economy. The main objective of this paper is to examine the performance of the plan as a developmental state paradigm for “Nigeria's economic recovery”. Data for this paper was generated from secondary sources. The study revealed that, even though ERGP was implemented properly, its expected positive impact on GDP growth, reduction of inflation and unemployment is not satisfactory. Accordingly, restructuring of the economy through diversification of the economy to agriculture needs to be seriously sustained to reduce the over-dependence on oil and the need for adequate funding, budget implementation, tackling security challenges, in a bid to revamp the economy already battered by mal-administration.