The Political, Economic and Social Dynamics of Nigeria: A Synopsis

"The political economy of a country is pivotal to its economic dynamics as well as its social system. While politics and the process of politicking do not necessarily give rise to the social structure of a people, the institutional framework, process and outcome of this exercise do influence the course and outcome of achievable socio-economic status of the nation and its people. Inasmuch as the primary expectation of electorates is to reap the benefits of democracy through their improved standard of living and sustainable socio-economic prosperity, failure to deliver on these measurable indicators are bound to be unsettling. Although these obligations are always seen as the benchmark for every political leadership (including in Nigeria), the practical reality of events has been one-dimensional. As the second-largest economy and the most populous country on the African continent, the prospect of economic advancement and social prosperity are largely evident and supported by the regulatory environment. However, the prospect of their realisation in a country that was beleaguered by a chequered history of political imbalance, including a thirty-month civil war, thirty years of military rule, and highly diverse and polarised ethnic and religious groupings that are perennially at friction with one another, appears to be challenging."