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| Foreign Aid And Nigeria's Economic Development In A Globalized World (2010 - 2016) |
Nwagu, Sam Ndubuishi Collins & Prof. Frank-Collins N. Okafor
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Abstract:
In this paper, we understudied foreign aid to Nigeria during Jonathan's Era (2010-2016). The study was necessitated by the need to interrogate the seemingly incorrigible economic retrogression of the country vis-a-vis the quantum of financial cum economic and development assistance from donor agencies, lending institutions and development partners over time for economic development. This study explored foreign aid as it relates to economic development in an era of globalization using Complex Interdependency Theory as the framework to analyze the interwoven variables in the aid coordination. The major proponents of this theory are Robert O. Keohane and Joseph S. Nye. This Theory dwells fundamentally on mutual dependency, sensibility and vulnerability of countries and transnational actors. On this process, the paper employed content analysis to analyze data sourced mainly from secondary data generation. Our finding is that Nigeria has received leviathan sum in development assistance which presupposes attaining a great height in its economic developmental strides which unfortunately she has not. The so called foreign aid not being an act of generosity, the aid conditions arm twist the leaders into submission to the western interest thereby forsaken their Country's. Against this backdrop, the paper recommends inter-alia that for Nigeria to develop her economy and sustain its development quest, it shall ensure effective aid coordination and strict compliance to aid management framework.
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