GOVERNMENT POLICY INITIATIVES AND ECONOMIC RECESSION IN NIGERIA

Gregory Gabriel Ekpenyong, Stella Ifenyinwa Mbah

Abstract


The study entitled Government Policy Initiatives and Economic Recession in Nigeria looked at the reality and woes of the recession to establish the causes of the present economic down turn and to explore the possibilities that government activities and other external factors brought about the sustained down turn in  the nation’s economy. The objective of the study was to examine the Nigerian government’s policy initiatives through its present and ongoing activities in order to establish the root causes of the Nigerian recession. Also to establish if forces outside the country were contributory to the recession or the possibility of holding unto both government activities and external forces as responsible for the down turn. The design employed was the survey and the sources of data are both primary and secondary sources. The questionnaire was the main instrument for primary data. Three research questions and hypotheses were formulated to guide the working procedures of the study. The analysis of the data was based on the Chi Squared to test the hypotheses. The study findings were that; government actions were responsible for the recession, also that external factors were contributory to the problem, which led to the conclusion that both external factors and government activities were held accountable for the downturn of the economy. The study concluded that macroeconomic issues have become objects of politicization indicating a lack of transparency and truth in the economic affairs of the nation.


Keywords


Recession, policy initiative, Nigerian government actions, politicization

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