1.0 Introduction
Public policy can be referred to as those definite acts or actions of government, geared toward the fulfillment of the obligations of government on the citizens that is the maintenance of law and order and the provision of necessary social and economic facilities needed for an enhanced standard of living of the people.
According to Nwizu (1998), he analyses the research system and recorded an administrative procedure to make decision, allocate resources, implement policies and in general to do with things expected of them in the constituencies.
Finally, we say that this project of National Economic Empowerment and Development Strategy (NEEDS) as a panacea to the problems of economic policy in Nigeria on the four key strategies which are;
- Poverty Reduction
- Wealth Creation
- Employment Generation
- Values of reorientation which can also critically analyze the policy and will still offer solution on how to realize economic effectiveness and efficiency in the Nigeria policy.
1.1 Background Of The Study Of Need
This can be regarded as a series of steps taken by the government to problems, make decision, allocate resources of value, implement policies and in general to do the things expected of them by their constituencies as also started by some researchers.
Since Her independence in 1960, Nigeria leaders have made a lot of public policies regarding its economy. Most of these policies never saw the day light talk of being implemented was done half hazardly, which is lead of boosting the economy tend to stagnant it and thereby cause more problems to the economy it was meant to allocate.
According to Nwoye (2000), the programmes are value draw on the vision 2010 report, which recognized the importance of respect for elders, honesty and accountability, co-operation, industry, discipline, self confidence and moral courage. Before the restoration of democracy, Nigeria suffered setbacks that banished its reputation. The primary aim of NEEDS is to create a new Nigeria citizen who values handwork and who realizes that one cannot have something for nothing.
Achieving this aim may be the stronger action Nigerian can take to build a better future for its people. The problem bedeviling Nigerian economic policies have been traced to corruption which has been virtually institutionalized to the point where both the formal and informal organizations have severally and collectively colluded to deplete the resources of the country, the formal and informal referred to have are private, non governmental and governmental organizations that collaborated in siphoning of public funds meant for economic development of the nation.
Nevertheless, the Obasanjo democratic government have decided to come with an all embracing and all encompassing economic reform policy that is geared towards over hulling and realizing the objectives of every other governmental policy that have been initiated by every possible means.
As it has been said NEEDS as a panacea to the problems of economic policy in Nigeria on four key strategies;
- Poverty reduction
- Wealth creation
- Employment generation
- values of reorientation
1.2 Statement Of The Problem
The main task of this project is therefore to examine the Obasanjo’s economic policies, Need examine its prospect to transform the Nigeria economy and proffer solution in the realization of it set objectives in the alleviating the suffering of the Nigeria populace and rejuvenating the already bastardized economy.
The problem facing policies on National development have been traced to the corruption, which has been virtually institutionalized in the Nigeria polity. There has been complaints and condemnation about the non realistic economic policies geared towards national development. The above features have been legacies of the decades of corruption and mismanagement especially during the military administrations.
Government readily becomes an instrument for instant acquisition of wealth and therefore distorted the incentive to work and create wealth in the private sector with the government as the major source of patronage and rent, seeking fight for public office becomes a matter of life and death.
And those creates disincentive for private enterprises, transparency and accountability regime changes and frequent changes in policy were the features of the past military dictatorship simple means weak, institution endured. These and others created lack of vision for the development and commitment of policy formation, implementation and evaluation. It is against the above background that this study tends to raise the following questions;
- What are the various ways mapped out for achieving the NEEDS policy?
- Is the National Economic Empowerment and Development Strategy policy anchored developing and empowering Nigerians economically?
- What are the factors impending the realization of Nigeria economic policy objectives?
1.3 Objectives Of The Study
- To ascertain why most Nigeria’s economic policies and objectives are not realized within the last decade.
- To ascertain the nature and prospect of Obasanjo’s economic reform policies specially the National Economic Empowerment and Development Strategy (NEEDS).
- To ascertain whether there is any relationship between poor implementation of policies geared towards achieving the goals of NEEDS and economic hardship in Nigeria.
- To examine the implementation process of the National Economic Empowerment and Development Strategy (NEEDS).
1.4 Significance Of The Study
This study will provide a redial breakthrough which NEEDS will achieve its expected goal of National economic development which has been the principal agency to tribal wars since independence.
Furthermore, this study signifies the importance attached to nullify and eradicate poverty and limitlessness in the Nigeria policy. That is why numerous campaigns have been launched against poverty and other vices like corruption, which is the major devastating factor in nation development.
The solution proffered in the study will be of immense benefit and advantage to governmental and non governmental organization in eschewing the social backwardness. This study will also serve as a contribution to knowledge.
1.5 Scope Of The Study
The scope of this research work is wide in that it strives to cover or discuss the most encompassing of all economic policies enunciated by the Obasanjo’s democratic leadership from its time of inception in 1999 to 2007. It will also highlight the various stages that National Economic Empowerment Development Strategy (NEEDS) has gone to the economic development of the nation.
1.6 Research Question
- What are the factors impending the realization of Nigeria economic policy objectives?
- Is the National Economic Empowerment and Development Strategy policy anchored in developing and empowering Nigerian economically?
- What are the various ways mapped out for achieving the NEEDS policy?
1.7 Limitation Of The Study
Due to the conundrum encountered on this project they
Were few like transport cost which is high, less information gotten from the material, lack of time for proper consultation of the work due to the conclusion date that is fast approaching.
1.8 Definition Of Terms
Definition of basic concept is necessary since it aids us in the economy of language at the same time of expression, they are basic foundation of all human communication and other taught.
Concepts are used to convey special meaning and they are easily comprehensive by other people from the different field they are;
Implementation:
Here, this means a large important organization that has been officially decided by a political class or group of people.
Institution:
This means a large important organization that has purpose or a goal to achieve.
Goals:
The object one’s effort, or a target.
Corruption:
Corruption here means the illegal appropriation of public fund through the instrument of political power and office. It can also means the use of ones official position for personal interest.
Policy:
This means a plan of action proposed by government political party concerning the selection of goals and method of attaining them.
