ECONOMIC DEPENDENCY AND THE THIRD WORLD UNDERDEVELOPMENT: THE NIGERIAN EXPERIENCE

ABSTRACT

The research borders on Economic Dependency and the Third World Underdevelopment with the Nigerian experience as its case study. The crises of underdevelopment in the third world have been a subject of discourse amongst social scientists, national governments, and international development organizations for several decades. Largely countries in Africa, Asia, and Latin America are wallowing in mass poverty and socio-economic underdevelopment. The Nigerian state in this sense as an African country shares in the experiences of the third world. Given the foregoing, the research concentrated on the major cause of economic dependency in Nigeria; the role of the Nigerian elites in the problem of economic dependency and the roles played by multinationals in the sustenance of economic dependency. In furtherance of this, the research investigated the concepts of dependency and underdevelopment, x-rayed the dependency theories, the theory of dependency and African as well as Nigeria’s underdevelopment. The research also deemed it imperative to find out the major cause of economic dependency in Nigeria, and dependency and underdevelopment in Nigeria, summing up conclusions and probable policies or recommendations based on the study.