Why Is Nigeria -- The “Giant of Africa” -- Still Poor?

Abstract

This paper begins with a short review of the issues cited by Africa scholars to explain the relative lag in economic development in Sub-Saharan Africa, which includes Nigeria. Next, some vital statistics of Sub-Saharan Africa and Nigeria are provided, followed by a brief review of Nigeria’s pre- and post-independence history. The second part -- the heart of the paper -- examines the major long-term issues that are adversely impacting the growth in living standards in Sub-Saharan Africa, with particular attention to Nigeria: demography, urbanization, insufficient infrastructure, regional, ethnic and religious stresses, over-reliance on commodities to finance indispensable government services such as education and health, and the poisonous effects of widespread public and private corruption