RESTRUCTURING AS MEANS OF RESOLVING NIGERIA’S SOCIOECONOMIC CHALLENGES: AN EMPIRICAL ANALYSIS
Abstract
This paper titled “restructuring as means of resolving Nigeria’s socio- economic challenges: an empirical analysis”. The paper is basically a survey and historical research method relying mainly on primary and secondary sources of data. The primary data was generated with aid of questionnaire instrument. Purposive sampling techniques were used for the collection sizable sample population for the study. Secondary sources of data were collected from Published journal and websites. Quantitative method of data analysis was utilized. The data collected was analyzed with regression technique. The major purpose of embarking on this research is to scientifically prove the position of restructuring to Nigeria’s socio-economic development. Findings from the study reveal that, the underlining reason behind 70% of all agitations for restructuring is centred on resource control either directly or indirectly. the study further shows that, the main reason why Nigerians are all paying so much attention to resource control is because Nigeria are still operating an oil-based economy. The social implication of this is that, kidnapping and Niger delta militancy attacks will all fizzle out. This will boost Nigeria’s foreign earnings thereby increase Nigeria’s socio-economic development. Based on some of the challenges facing the country, the study recommends that, Fiscal relations between the tiers of government should be such that would promote the coordinateness of the component units. States should be allowed to control their resources
Keyword: Restructuring, Nigeria’s socio- economic, challenges andresource control.
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