‘WHY NIGERIA HAS REMAINED UNDERDEVELOPED’

A leading development economist has identified poor leadership, systemic corruption, policy inconsistency, and over-reliance on oil as the major reasons Nigeria has remained underdeveloped despite its vast human and natural resources.

Prof. Adebayo Olukoshi, in a public lecture delivered on Friday in Abuja, painted a sobering picture of the country’s development trajectory and challenged leaders to address the fundamental issues hindering progress.

“Nigeria has remained underdeveloped because of leadership failure, endemic corruption, lack of policy continuity, and the curse of oil dependence. We have the resources and the population to be a great nation, but we have not managed them well,” Olukoshi stated.

The professor, who has served in various international development institutions, called for a new social contract between the government and the people, emphasising the need for transparency, accountability, and inclusive governance. He also advocated for diversification of the economy, investment in human capital, and the strengthening of institutions.

Participants at the lecture, which included policymakers, academics, and civil society leaders, engaged in robust discussions on the way forward for Nigeria. Many agreed that without genuine political will and citizen participation, the country’s development challenges will persist.

The lecture has sparked renewed conversations about the root causes of underdevelopment in Nigeria and the role of leadership in driving transformation. Some commentators have urged the current administration to take bold steps in addressing the issues raised by Prof. Olukoshi.

As Nigeria continues to grapple with economic difficulties, high unemployment, and insecurity, experts believe that confronting these fundamental challenges is essential for the country to realise its full potential and improve the living standards of its citizens.

The public lecture is part of a series of events organised by a think-tank to promote evidence-based policy-making and national development discourse.