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APPRAISING THE EFFICACY OF THE NATIONAL ECONOMIC EMPOWERMENT AND DEVELOPMENT STRATEGY (NEEDS) AS POLICY INTERVENTION IN NIGERIA (2003-2007)
Abstract
This study appraised the efficacy of the National Economic Empowerment and Development Strategies (NEEDS) as policy intervention in Nigeria. The study adopted mixed methods. Using convenience sampling method, 240 citizens were randomly selected public and private institution in Ogun State. Comparatively, mean analysis was adopted in analyzing the percentage mean of the secondary data collected while self-designed questionnaires were used to elicit responses as primary data for the study. The instrument used for data collection was a self-designed questionnaire with a test-retest correlation coefficient of 0.86 for the reliability test. The study generated four research questions and four hypotheses were tested at 0.05 level of significance. The result of the hypotheses indicated that: (i) NEEDS policy was not effective objectively on the targeted growth and development indicators (GDI). (ii) The study also revealed that there were no significant differences after the intervention of NEEDS. (iii) Based on the findings of the study, it was inferred that NEEDS produces no significant differences on GDI. It was therefore recommended that thorough appraisal of the previous and existing policies should be undertaken before the formulation of new one in order to ascertain the reason for its ineffectiveness, failure, need for replacement and sustainability methods for subsequent policy after implementation.
Key words: Efficacy; Appraisal; GDI; Sustainability; NEEDS.