Political Leadership and the Paradox of African Economic Development 1960-2010: A Historical Analysis of Nigeria as a Case Study

Abstract

At her independence in 1960, Nigeria held out prospects of being one of the fasted economies of the world, and attainment of industrial status within a generation. This was because she seemingly had all that was needed to attain the objective: buoyant agriculture, an assertive entrepreneurial class, a burgeoning middle class, an adequate financial base, and a friendly external financial environment. So bright were her prospects that Malaysia came and got oil palm seedlings from her Institute for Oil Palm Research (NIFOR). Yet over fifty years on, while her contemporaries have joined the league of advanced industrial economies, Nigeria is still trapped in the bad waters of the underdeveloped world, much to the embarrassment of her citizens. This paper argues that the cause of this tragic experience is leadership failure. Whose multiplier effects are bribery, corruption, treasury, looting, and the various shades of political instability. The aggregate effect of all these is a prostrate Nigerian state groaning under the weight of its political misfortune.