Mismanagement and reform failures in Nigeria: historical perspectives

The Nigerian economy started experiencing economic recession from 1981 which was characterized by low capacity utilization, incomes, and consumption patterns. Public enterprises were operating at the lowest ebb. Government discovered that, without any exception, such enterprises were infested with problems of confused and conflicting missions; political interference in operating decisions; abuse of monopoly powers; defective capital structures; bureaucratic redtapism in their relations with supervisory agencies; mismanagement; nepotism and corruption. Consequently, reform failures and entrenched bureaucratic corruption have created systemic poverty amidst robust economic growth in Nigeria; a situation that supports the phenomenon of poor people in a rich country. Nigeria at present is ranked among the poorest nations in the world and also has one of the highest unemployment rates. It is estimated that more than one in every five adults in Nigeria is either unemployed or underemployed with about 67 million youths unemployed which is not unrelated to the effects of mismanagement and reform failures. The exploratory research design was used in the study. Qualitative data provided empirical evidence that most past reform programmes in Nigeria did not achieve the objectives for which they were established. With a Negative – Positive Ratio of 7:2 based on the study, it was found that government reform policies have not made the desired positive impact on socio-economic development in Nigeria