DEPENDENCY AND UNDERDEVELOPMENT IN AFRICA
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Abstract
Dependency describes a situation in which a country’s economy is vulnerable
because it depends on the growth and prosperity of another country. In the global
system while countries are able to expand while remaining self-sufficient, other
countries who dependent ones, like Nigeria have only been able to do so as a
reflection of expansion which may have either a negative or positive effect. It is
necessary to conduct this research since Nigeria’s heavy reliance on foreign aid
has led to significant gaps in the country’s growth. The goals of this research
were to better understand the dynamics at play in Nigeria’s development crisis, to
assess the factors that contribute to dependency which are apparent across Africa
and in Nigeria, to educate Nigerians on the complexities of these twin problem of
dependency and underdevelopment, and to suggest strategies for addressing them. These four questions were formulated specifically for the current investigation. Data was analyzed using both quantitative and qualitative methods in this study. The dependency theory served as the framework for the analysis, which was
based on both primary and secondary sources. The study found that a lack of
internal stability, such as a skewed value system and failing institutions, contributed to Nigeria’s dependence on other countries. This leads to a weak
government and a loss of political independence. Instead of looking inward for
measures to strengthen finances, governments frequently turn to borrowing
money in order to pay for ongoing capital expenditures. The study also observed
that dependency is responsible for the substantial disparity in Nigerian savings
and investment, worsening the country’s poverty, insecurity, and unequal
development. It was believed that moving away from a monoculture economy
would help the government break its reliance on a single commodity. The study
concluded that in order for the government to be effective in its fight against
social maladies that leads to underdevelopment, it must boost its efforts to
reorient the society by setting rigorous ethical standards that everyone is
obligated to follow. As an added measure, auditing and consulting organizations
can be brought in to investigate whether or not government projects and records
are being carried out in accordance with established protocols and all
institutional and structural loopholes within the government should be nipped in
the bud to foster true and even development.
because it depends on the growth and prosperity of another country. In the global
system while countries are able to expand while remaining self-sufficient, other
countries who dependent ones, like Nigeria have only been able to do so as a
reflection of expansion which may have either a negative or positive effect. It is
necessary to conduct this research since Nigeria’s heavy reliance on foreign aid
has led to significant gaps in the country’s growth. The goals of this research
were to better understand the dynamics at play in Nigeria’s development crisis, to
assess the factors that contribute to dependency which are apparent across Africa
and in Nigeria, to educate Nigerians on the complexities of these twin problem of
dependency and underdevelopment, and to suggest strategies for addressing them. These four questions were formulated specifically for the current investigation. Data was analyzed using both quantitative and qualitative methods in this study. The dependency theory served as the framework for the analysis, which was
based on both primary and secondary sources. The study found that a lack of
internal stability, such as a skewed value system and failing institutions, contributed to Nigeria’s dependence on other countries. This leads to a weak
government and a loss of political independence. Instead of looking inward for
measures to strengthen finances, governments frequently turn to borrowing
money in order to pay for ongoing capital expenditures. The study also observed
that dependency is responsible for the substantial disparity in Nigerian savings
and investment, worsening the country’s poverty, insecurity, and unequal
development. It was believed that moving away from a monoculture economy
would help the government break its reliance on a single commodity. The study
concluded that in order for the government to be effective in its fight against
social maladies that leads to underdevelopment, it must boost its efforts to
reorient the society by setting rigorous ethical standards that everyone is
obligated to follow. As an added measure, auditing and consulting organizations
can be brought in to investigate whether or not government projects and records
are being carried out in accordance with established protocols and all
institutional and structural loopholes within the government should be nipped in
the bud to foster true and even development.
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