Research Paper
Year: 2020 | Month: May | Volume: 7 | Issue: 5 | Pages: 81-88
Employing the Dudley Seer Theory of Development on the Nigeria Economy
Aaron Dauda Impalure1, Forongn Aivin Dore2
1Department of Economics, Air Force Institute of Technology Kaduna, Nigeria.
2Department of Accounting, Nassarawa State University Keffi, Nigeria.
Corresponding Author: Aaron Dauda Impalure
ABSTRACT
The study analyses the Dudley Seer’s theory of development on the Nigeria economy. Before the emergence of Seer’s theory, there was a general believe amongst economists that development occurred when a country has a sustained economic growth in terms of Gross Domestic Product (GDP). Many less developed countries including Nigeria experienced continues economic growth over the years but the such growth does not have a positive reflection in the lives of the people in terms of quality of life. Seer shifted away from such believes and propounded his theory of development with emphasis on poverty, inequality and unemployment. Thus, he used three indicators which are poverty, inequality and unemployment to cement his argument. That if these indicators are falling then that country is experiencing development but if not, they are not experiencing development. This study thus used these indicators to critically assess the Nigeria development situation. It was discovered that all, the three indicators were all increasing instead of decreasing as Seer propounded. The study recommends that the Nigeria government should provide loans to the rural areas for investment into the agricultural sector. Government should provide entrepreneurship program to the urban youth to tackle poverty. Also, taxing policy should be made to tax the poor more to provide infrastructures to the citizens. Investment in child’s education and also invest in health.
Keywords: Development, Inequality, Poverty, Unemployment, Economic growth
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