POLITICAL LEADERSHIP AND ECONOMIC DEVELOPMENT IN DEVELOPING COUNTRIES
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- NGN 5000
ABSTRACT
At independence, the economies of Nigeria and India were dominated by primary production, mainly agriculture. However, within some decades, India transformed and overtook Nigeria, emerging as one of the fastest growing economies in the world, while Nigeria’s development lagged behind considerably. This research comparatively assessed the role of leadership in economic development experiences of these two countries from the period of their independence to 2013. The indices of comparison were political leadership characteristics, economic policies, Human Development Index (HDI) and economic development indicators/ranking of these two member-countries of the Common Wealth. Among these indices of comparison assessed to be critical in the development discrepancy of the two historical peers, political leadership remained central. This study adopted descriptive and comparative historical approaches; the data for this study were collected from secondary sources and were qualitatively and quantitatively analysed. It was established that poor governance, mismanagement of resources, corruption, as well as poor execution of economic development policies and plans were all linked to political leadership in Nigeria, in contrast to India. Hence, the research held ineffective political leadership culpable for the slow pace of economic development in Nigeria while effective political leadership has been responsible for the India’s fast economic development success. Given this observation, it was recommended in the study among other things that, Nigeria should learn from the experience of India; and until the enthronement of effective political leadership, development will continue to be a mirage to Nigeria.
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