Reflexiones jurídicas que fundamentan el presente estudio 81

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benefit, or the technical administrative arrangements required to establish and operate them. In fact economic reasoning gave way to economic enthusiasm, as the necessary coordination required in project implementation was absent. By mid-1975, Government had realised that the oil revenue-based income projections were too optimistic and many projects had to be postponed, scaled or cancelled. While some projects were retained for political reasons, a good number of them were rolled over to the Fourth Plan.

Some measure of economic stability was experienced in the country towards the end of the 1970’s due mainly to better economic management at the macro level of governance. However, when the Fourth Plan was to start, all the optimistic assumptions of the Third Plan were repeated by the civilian administration as many agricultural and non-agricultural projects were admitted into the plan. As with the Third Plan, the Fourth Plan soon ran into problems in the early 1980s. Falling oil revenues and an increased need for imported food that had resulted from the inability to execute relevant agricultural programmes, threatened the Fourth Plan

SELF ASSESMENT EXERCISE 3

State the dates and at least one objective each of the four development plans discussed above.

3.4 Some Achievements of National Development Plans

1. Execution of development projects such as the oil refinery in Port Harcourt, the Niger Bridge at Asaba, the Niger Dam at new Bussa etc.

2. Rehabilitation of farms and plantation, abandoned during the civil war.

3. Reconstruction and Rehabilitation of industrial facilities damaged during civil war e.g. the cement company in Calabar.

4. Establishment of twenty new Federal Government Secondary Schools

5. Establishment of the Nigerian National Oil Corporation (NNOC), now Nigerian National Petroleum Corporation.

6. Reconstruction of 2,200 miles of roads

7. Extension of communication facilities, thus making available a total of 6,400 additional telephone lines

8. Establishment of food production companies

3.5 General Problems Associated with Low Performance of National

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3. Lack of mass commitment 4. Corruption

5. Political instability and upheavals 6. Plan Indiscipline

7. Inadequate well-trained planners and executors 8. Lack of information and Data

9. Lack of national interest and political will 10. Institutional weaknesses

SELF ASSESMENT EXERCISE 4

What factor (s) mainly account for the little success of the Developmental plans in Nigeria?

4.0 CONCLUSION

This unit has revealed that the colonial government undertook no serious plan but a list of projects to be executed before independence. Post-independence plans were more comprehensive and integrated as it included details about our resources potential and their mobilisation in the different sectors of the economy and spanned 23years (1962-1985). In all, the country has since initiated four medium-term development plans, a stop-gap Structural Adjustment Programme (SAP) and a long-term perspective plan termed vision 2010 which was later extended to vision 202020.

Against this background, the discussion here concentrated on the first to fourth national development plan. We noted that The First National Development plan 1962-1968, was intended to put the economy on a fast growth path, by giving priority to agriculture and industrial development as well as the training of high and intermediate manpower to fill the gap in human resource requirements. The second National Development Plan, 1970-1974, was launched after the civil war to reconstruct and rehabilitate economic and social infrastructure. The third national development plan, 1975-1980, was designed in the oil-boom years of the mid-1970s and is principally aimed at diversifying the economy, promote balanced regional developments and domesticate the economy through the deliberate encouragement of local private investment. This fourth plan (1980-1985) suffered mostly from the wasteful and relaxed spending of the post-military civilian administration of 1979-1983 and the collapse of international prices of crude oil despite its laudable anticipation.

5.0 SUMMARY

So far in this unit we have discussed the principal elements of the pre-independence development plans. The four national development plans since independence were equally exposed while. From the next unit you will have the opportunity examine some of the programmes and policies embedded in these plans. We shall begin with

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the old indigenization policy, then the much celebrated Structural Adjustment programme (SAP), The National Economic Empowerment and Development Strategy (NEEDS) and the National Poverty Eradication Programme (NAPEP)

6.0 TUTOR-MARKED ASSIGNMENT

Compare and Contrast the four development plans in Nigeria

7.0 REFERENCES/FURTHER READINGS

Anyanwu, J.C. (1993). Monetary Economics: Theory, policy and Institutions Hybrid Publishers Ltd, 17-22.

Anyanwu, J.C., A. Oyefusi, H. Oaikhenan and F.A. Dimowo (1997). The Structure of The Nigerian Economy (1960-1997), Joanee Educational Publishers Ltd., Anambra, Nigeria. 661pp.

Agrawal, A.N and Lal, K. (1980). Economic Planning. 2^nd Revised Edition. Viras Publishing House, PVT Limited. New Dehli, India.

Akinyosoye, V.O. (2005). Government and Agriculture in Nigeria, Analysis of

Policies, Programmes and Administration. Macmillan Nigeria Publishers Limited, Yaba lagos. 598pp

Awoseyila, A.P. (1996). National Economic Development Planning; Review of

Nigeria’s Performance and Future Prospects. Research Department Occassional Paper No. 15. Central Bank of Nigeria, Abuja.

CBN, (1995). Annual Report and Statement of Accounts December 1995 CBN, Lagos.

Federal Government of Nigeria (1975). Third National Development Plan. 1975-1980, Federal Ministry of Economic Development, Lagos

Federal Government of Nigeria (1990). National Rolling Plans (NRP) Documents Federal Government of Nigeria (FGN), Lagos, Nigeria

Federal Government of Nigeria (1997). The Vision 2010 Project Report, FGN, Abuja

Federal Republic of Nigeria (1962). First National Develoment Plan, 1962-1968.

Federal Ministry of Economic Development, Lagos

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Federal Republic of Nigeria (1970). Second National Develoment Plan, 1970-1974.

Federal Ministry of Information, Lagos

Federal Republic of Nigeria (1975). Third National Develoment Plan, 1975-1980.

Federal Ministry of Economic Development, Lagos

Federal Republic of Nigeria (1981). Fourth National Develoment Plan, 1981-1985.

Federal Ministry of National Planning, Lagos

Lewis,W.A (1966). Development Planning: The Essentials of Economic Policy.

George, Allen and Urwin

Obadan M.I. (2003). National Development Planning and Budgeting in Nigeria- Some Pertinent Issues. Broadway Press Ltd., Lagos

Odeleye, A.T. (2009). Nigerian Economy in Perspective (Vol.1) (Pre-colonial Era till Date), Larritone Books International, Ibadan Nigeria. 120pp

Oluwasanmi H.A (1966). Agriculture and the Nigerian Economic Development, Oxford University Press, Ibadan

Olatubosun, D. (1975). Nigeria’s Neglected Majority. Oxford University Press, Ibadan

Todaro M.P (1982). Economics for a Developing World. Longman Group limited, Essex, U.K.

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UNIT 2 INDIGENISATION POLICY IN NIGERIA