Assessment of the Impact of Development Strategies Adopted by the Babangida’s Military Regime (1985-1993) and Obasanjo’s Democratic Regime (1999-2007) on the Nigerian Economy

Abstract

After many decades of independence and political existence, the issue of development in Nigeria has remained just like a dream. Different regimes at various times in Nigerian history have come up with initiatives, plans and programmes to tackle underdevelopment and achieve the goals of development both in human development and economic growth, however, all efforts have yielded little success. It is against this background that this paper assessed the impact of development strategies adopted by the Babangida’s military regime and Obasanjo’s democratic regime with particular reference to public sector reforms on the socio-economic development of the country. The study reveals among others that, the more policies are formulated and implemented in Nigeria, the deeper she seems to fall into the pitch of underdevelopment. Methodologically, qualitative method of data collection was applied while the Marxian Political Economy
Approach was adopted a theoretical framework.