Nigeria's Long Term Economic Development Strategy

In this publication, we examined the pattern of global trade and the economy and how industrialised countries have each gone through the periods of recovery to dominance. We observed that two factors were critical to their sustained dominance, the prevailing economic philosophy and the coordination of their institutional mechanism. We recommend that our policy makers should consider these steps while crafting a long term development strategy for Nigeria.This was written with the hope that Nigeria will soon embark on the development of a long term economic blueprint to serve as a guide and provide focus in shaping the future of Nigeria from hereon. This is particularly as the vision 2020 is coming to a close and Nigeria is still far from the set targets.In our view, current global and domestic economic trends have presented Nigeria an opportunity to draw up a new and SMART development strategy for the mid to long term (10¿20 years) to reshape its affairs towards competiveness and sustainable growth.Our discourse here is about strategy and strategizing for the development of that blueprint, which would help steer Nigerians on the course towards their aspirations.