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| Management of Global Economic Crisis in Nigeria: Lessons from South Africa |
Dr. Desmond O. Nnamani, Dr. Okeke Martin Ifeanyi, Dr. Uche Ojukwu, Ugwuanyi, Chigozie Freda
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Abstract:
The effect of the global economic crisis on the African continent is enveloped in external and internal factors, which has further complicated the escape routes for the continent. In a highly integrated and global world though an imbalanced one, the developed societies wield preponderance of the economic-political power which gives them an interdependent states, while developing polities who are not favored by the present international economic order gets a dependent status. With the present global economic recession, the economic configuration of the global system has been exposed, questioned and attempts are make to restructure. The African continent especially Nigeria and South Africa are responding to these crises from different perspectives. This paper explores Nigeria's response to the crisis and the lesson to be drowned from South Africa. This paper posits that present economic meltdown poses a major challenge for African leaders to contest and change their dependent status in the international economic order. This paper concludes by posting that Nigeria needs focused, determined, and sincere leadership that would transform the continent from a dependent polity to a self reliant, and productive polity like South Africa.
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