FOREIGN AID AND ITS EFFECTS ON NIGERIAN ECONOMIC GROWTH AND DEVELOPMENT

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FOREIGN AID AND ITS EFFECTS ON NIGERIAN ECONOMIC GROWTH AND DEVELOPMENT

Abstract

This study sets out to investigate “Foreign Aid and its Effect in Nigerian Economic Growth and Development”. It will ascertain whether foreign aid has impacted positively or negatively to Nigeria economic growth and development. Documentary method will be used in data collection, content analysis and ex-post facto research design will also be adopted. The study anchors on dependency theory propounded by the dependents in the late 1960s and 1970s. Based on the analysis, the major findings foreign aid comes with conditionality that ends up effecting the economic growth negatively, also Nigeria lack good economic policy that would have helped in effective use of the aid. It also recommended that Nigeria should come up with adequate economic policy that can scrutinize the conditions of the aid and also make effective use of it to the economic growth and development.

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