ABSTRACT

Nigerians, having been subjected to different forms of exploitation and misrule, from the mercantilist era to the present era of neoliberalism, appear justified in assessing every form of government including democracy, merely from the point of economic emancipation. Since independence in 1960, Nigeria has undergone repeated cycles of democratic and authoritarian rule, with the military governing for a total of 29 years in the post-colonial era. There was much expression of hope for a ‘democracy dividend’ that would bring economic revitalization, a restoration of political liberties, inclusion for marginalized groups, and the attenuation of official wrongdoing when democracy returned in 1999. Unfortunately, Nigeria’s eighteen-year democracy is yet to significantly fulfill the hope and aspirations of the generality of the citizens.  In fact, it seems to have created more anxieties in such areas as security of life and property, electoral violence, and the national economy. It is important to note also that, achieving sustained socio-economic development will demand solving some of Nigeria’s political problems (like fiscal federalism, state police etc) which economists and even politicians pretend have been solved.