Crisis of Governance and the Challenge of Economic Management in Nigeria
Anyadike, Nkechi, O & Eme, Okechukwu Innocent
Crisis in governance has many dimensions. What often come to mind are the many conflicts that threaten Nigeria’s national security and stability, leading to needless destruction and divert valuable resources to the task of maintaining peace and order. Without any doubt, a cessation of such conflicts will contribute significantly to national development. But crisis in governance has other facets. Perhaps the most important is the crisis of economic management. This is because good economic management could make a significant contribution to the quality of governance, in particular by creating a stable macro-economic environment, and by addressing more aggressively such critical issues as job creation and poverty reduction. Furthermore, success in coping with such issues as transparency and accountability, and in achieving a sensible order of national priorities to avoid wasteful spending, will go a long way to improve economic management and the quality of governance. This contribution will look at the linkage between Crisis in Governance and Economic Management in Nigeria. Data for this study will be generated from Focus Group Discussion, interviews and documentary sources. Tables and the technique of content analysis will serve as our data analysis technique. The findings reveal that as a result poor economic management, corruption lack of diversification and transparency have led to much economic hardship. Based on the above findings, the paper recommends that those who destroyed and looted the economy should be sanctioned and the diversification of the economy with sound economic programmes will help in addressing these challenges.