Conclusion

Nigeria has had a long history with development planning. The four grand economic planning programs launched in the 1960s, 1970s, and 1980s indicated some level of enthusiasm for state-empowered development. With the introduction of structural adjustment in the 1980s, proactive and extensive planning came to a halt. The Obasanjo’s government initiation of the National Economic Empowerment and Development Strategy (NEEDS) brought broad government planning back to the forefront of Nigeria’s political economy. However, NEEDS ultimately failed to deliver many of its promised benefits especially its central commitment to poverty reduction. This was due to several factors including NEEDS’ conservatism, economic mismanagement, corruption, a lack of communication between the government and civil society, and not including the voices of the poor in public decision making. Though Nigeria has struggled with pursuing economic planning in the past, state-led development planning should still be recognized as a critical aspect of national development for Nigeria. In fact, the state should be more engaged in economic affairs to meet the needs of its people, especially its poorest.