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Three Major Problems in Nigeria - Essay Example

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The paper has been written in an attempt to analyze three crucial problems including increasing inflation rate, rising living standard, as well as political instability. Nigeria is a country bombarded with numerous resources, oil being the leading…
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Three Major Problems in Nigeria

Download file to see previous pages... This research will begin with the statement that developing countries face various problems leading to slow economic growth and other tribulations. It is the same problems, which lead to unemployment raising social issues, as well as sophisticated settlements. In as much as different countries employ varied strategies to counter the problems; they remain dominant as the countries lack proficient mechanisms. Majority of developing countries depend on developed countries a factor, which not only slows development but also exploit the available resources in the countries. Nigeria is one developing country, which faces diverse problems. Most African countries have a characteristic of political instability. This underscores the depth of development leaving people midst abundant resources with little development. In the past, many years, stagnation remains evident among many African countries due to political instability creating a rising tide of poverty, poor infrastructure and decaying of public utilities. Nigeria gets described by scholars as an unfinished state, and a truculent African disaster, this is because of the abundant natural resources present in the country, which instead of improving the economic condition of the country, has propelled the vicious cycle of poverty. Nigeria is rich with enormous oil resources that warrant it a name of a giant African country. On the contrary, it remains a minute country due to the political instability of parochial leadership, which considers personal survival rather than national development. ...Download file to see next pagesRead More
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