The Prospective Effects of the Federal Government's Policies on Nigeria's Economic Development: Strategy to Achieving Millennium/Sustainable Development Goals

Abstract

Nigeria's economic development has been largely attributed to its cultural growth and the oil boom of the post-colonial era, this was before the unfortunate political activities that left the country depleted state. The quick intervention of the United Nations to come up with Strategic plans and methods to make citizens of especially the less developed countries live above the poverty level.

The main objective is to analyze policies of the federal government and see how they affect the growth of Nigeria's economy, proffering recommendations on how to approach the problems that are hindering the progress of these policies. The Millennium Development Goals (MDGs) have been increased from 8 to 17 goals because it was realized that there were some important goals that were not included initially in the first set of goals.

It was hypothesized that there is a significant relationship between the various Government policies and Nigeria's economic development. A simple random sampling method was conducted and applications of both quantitative and qualitative test were employed to ensure a reliable result.  Upon distribution of the questionnaires to the different Tertiary institutions, high schools, Government ministries and commercial market places.

Nigeria has been taken aback by the visible mismanagement of resources, spike in crime and the problem of multicultural diversity has begun to increase the fragile relationship between people. For the federal government to facilitate a togetherness spirit and imbibe the spirit of true patriotism, it has to create an avenue for innovativeness and open room for technological advancements. This would subsequently increase the financial resources needed to implement these policies and improve the living standards of Nigerians.