NIGERIA AND THE DILEMMA OF SOCIO-ECONOMIC DEVELOPMENT IN THE 21ST CENTURY: THE GOVERNANCE PERSPECTIVE.

Akwapoly Journal of Communication and Scientific Research (APJOCASR)

Abstract

 Nigeria, often referred to as the "giant of Africa," boasts abundant natural resources, material wealth, and human capital. However, despite its immense potential, the country needs help to achieve socio-economic development due to a combination of factors. This paper utilizes descriptive and historical methods, relying on secondary data sources, to explore the governance trajectories that hinder Nigeria's progress. The concept of prebendalism serves as the theoretical framework for this work. The paper contends that ineffective governance and incompetent leadership are at the root of Nigeria's socio-economic struggles. These issues manifest in widespread corruption, lack of transparency, and a dearth of accountability. The country's governing elites view public office as an opportunity for personal enrichment, often at the expense of the greater good. This paper recommends a consensus-oriented approach to governance, where leaders maintain high trust with citizens and fulfil campaign promises. Additionally, political leadership must transcend personal interests and prioritize the nation's socio-economic development.