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Difficulty: EasyProblems and Challenges of Economic Planning in Nigeria

A major challenge confronting national economic planning in Nigeria is the severe shortage of accurate, timely, and comprehensive statistical data.

Answer: Answer

Answer

True. The lack of reliable and comprehensive baseline statistical data (data paucity) is one of the most fundamental problems facing economic planning in Nigeria.
The statement is true because unreliable and outdated demographic and economic statistics prevent planners from setting realistic targets, monitoring project progress, and allocating national resources effectively.

Step-by-Step Solution

1
Identify the primary structural constraints affecting development planning in developing economies like Nigeria.
Major constraints include statistical data deficiencies, political instability, plan indiscipline, financial leakage, and inadequate executive capacity.
Establishing the core challenges outlined in Nigerian economic history is essential to evaluate the statement.
2
Assess the specific role of data availability in formulation of plan projections.
Without accurate baseline figures, growth projections and public expenditure allocations become inaccurate.
Directly verifies whether statistical data shortages hinder realistic goal setting and execution.

Key Concept

Data Paucity in Nigerian Economic Planning
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Problems and Challenges of Economic Planning in Nigeria