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Question

Difficulty: EasyProblems and Challenges of Economic Planning in Nigeria

Which obstacle to economic planning in Nigeria occurs when a new administration abandons or alters the projects established by its predecessor before completion?

  1. Political instability and policy inconsistencyAnswer
  2. B
    Inability to distinguish between economic growth and economic development
  3. C
    Misunderstanding the structural difference between rolling plans and fixed plans
  4. D
    Confusing the commercialization of public utilities with complete privatization

Answer

Political instability and policy inconsistency
Political instability and policy inconsistency describe the disruption of long-term economic planning caused when successive administrations discontinue previously approved development projects.

Step-by-Step Solution

1
Identify the key problem described in the scenario
The scenario highlights the disruption caused when successive governments abandon existing development projects.
Economic planning requires continuity across political regimes to achieve medium and long-term goals.
2
Match the problem to the corresponding planning challenge in Nigeria
This lack of continuity is classified under political instability and policy inconsistency.
Frequent political turnover often results in new leadership discarding previous plans in favor of new priorities, causing plan failure.

Key Concept

Political instability and policy inconsistency as a major challenge to economic planning in Nigeria
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Problems and Challenges of Economic Planning in Nigeria