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NIGERIA’S ECONOMY CHALLENGES: CAUSES AND WAY FORWARD
Abstract: Nigeria has been going through a lot of economic problems in the recent years. This paper discusses the challenges of Nigeria’s economy problems, causes and the way forward. Ineffective Leadership and Corruption, Over Reliance on Oil, inflation, unemployment, Government policy, Monetary policies, Inadequate infrastructures and power supply, Inadequate health facilities, Insecurity were identified as the major causes of the challenges of Nigeria’s economy and some way forward were identified from the study which are The study noted that strong law against corrupt practices should be put in place, Development of both Private Sector and Small Businesses, Unity, Implementation of the right monetary policy, Provision of employment opportunities for the youth, Provision of adequate security, Improvement on housing and home ownership for Nigerians and Diversification of the economy. To ensure future economic stability in Nigeria, government should engage the services of the proper economic team that can rescue the nation out of the present economic situation and put the national interest first before political interest.
Keywords: Nigeria’s Economy, Challenges and Way forward