PROJECT TOPIC- NEW PARTNERSHIP FOR AFRICAN DEVELOPMENT (NEPAD): ANOTHER STRATEGY FOR ECONOMIC GROWTH

ABSTRACT

“The New Partnership for African Development (NEPAD): Another Strategy for Economic Growth”. NEPAD is Africa’s response to low monumental development challenge, which highlights the process and prospect of achieving economic growth. This project was conducted to provide solutions to some of the problem revolving around the implementation of the policy such as: How do we implement this policy? And what impact will it have in the economic development of Africa? It is also aimed at achieving some objective which include – The evaluation of the achievement of NEPAD policy, it examined the major causes of policy failure in the country with respect to NEPAD, and it finds out the impact of NEPAD policy in Nigeria’s economy. The formulated hypotheses are

Ho: bi = 0 = Null hypothesis

Hi:  bi ≠ 0 = Alternative hypothesis

Ho: NEPAD policy has significant impact in economic growth.

Hi: NEPAD policy has no significant impact in economic growth.

The chi-square statistical method was used to calculate the finding. It was proposed as a decision rule that if the X2 calculated is greater than the X2 tabulated, the Null hypotheses (Ho) should be rejected but if X2 calculated is less than the X2 tabulated, the alternative hypotheses (Hi) should be rejected.

From the result of the findings it was found that the X2 calculated is greater than the X2 tabulated with the following value 13.48 and 9.49 respectively. It was recommended that the federal government should implement the policy – NEPAD.

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

The New Partnership for Africa’s Development (NEPAD) is Africa’s response to her monumental development challenge, which will highlight the process and prospect of achieving economic growth. It is the product of a fusion of two African development initiatives as directed by the Organisation of African Unity (OAU) Extra-ordinary summit in Libya in March 2001. Following that directive, the millennium partnership for African Recovery Programme (MAPP) sponsored by President Olusegun Obasanjo of Nigeria, Thabo Mbeki of South Africa and Abdelaziz Bonteflika of Algeria was merged with the OMEGA Plan which was conceived and sponsored by President Abdoulaye Wade of Senegal. The merged document was re-presented to the organization of Africa Unity (OAU) summit of July 2001 in Lusakka under the name of Presidents Obasanjo, Mbeki, Bouteflika, Wade and Mubarak. The summit endorsed and adopted the initiative, which was first called the new African initiative but was later changed to the New Partnership for Africa’s Development (NEPAD).https://https://www.https://www.projectwriters.ng/impact-benefits-incentives-workers-performance-nigerian-organisations/

NEPAD appears to mean many things to many people. to some observers, it is a vision for Africa’s development. It represents the last and best hope for the authentic development of Africa after many years of post-independence false starts and lost hope. To some others, it is Africa’s “Marshall plan” which provides a potentially effective framework for the continent’s movement towards development. These two perspectives on NEPAD appropriately reflect the fact that it is a holistic integrated strategic development plan to enhance growth and reduce poverty in Africa. NEPAD impresses as a comprehensive address of the social, economic and political development priorities of Africa and in a coherent and balance manner. The NEPAD document (2001) accordingly sees the development initiative as:

“A pledge by African leaders, based on a common vision and a firm and shared conviction, that they have a pressing duty to eradicate poverty and to place their countries both individually and collectively, on a path of sustainable growth and development and, at the same time, to participate actively in the world economy and body politics”.

The programme is, therefore, anchored on a rare determination by African leaders to use the framework to extricate the continent and its people “from the malaise of underdevelopment and exclusion in a globalising world” (NEPAD 2001). The “poverty and backwardness of Africa” is seen as standing “in stake contrast to the prosperity of the developed world”, a situation which NEPAD sees as “abnormal” but reversible.

NEPAD is therefore a long-term vision of an “African-owned and African led development programme” which hopes, in the long run, to “eradicate poverty” in Africa and place African countries, both individually and collectively, on the path of sustainable growth and development and thus halt the marginalization of Africa in the globalisation process”. It hopes to be able to achieve this long-term object by achieving and sustaining an average gross domestic product (GDP) growth rate of over 7 percent per annum for the next 15 years. The primary objective of NEPAD is to promote the development of African countries collectively and individually through a consolidation of “democracy and sound economic management”. The expectation is that in the process, poverty would be eradicated, the marginalization of Africa would be reversed and the continent would experience beneficial and integration into the global economy. Trade, investment, human development, among others, are the building blocks of the NEPAD initiative.

A number of directive principles inform NEPAD’s operations and guide its programme implementation. These include:

  • Democracy and good governance;
  • Sound economic management;
  • People-centred development;
  • Peace, security and stability;
  • Restraint on arbitrary action by government;
  • Ownership of process by Africa leader and people through their participation in the process.

PROJECT TOPIC- NEW PARTNERSHIP FOR AFRICAN DEVELOPMENT (NEPAD): ANOTHER STRATEGY FOR ECONOMIC GROWTH

1.2    STATEMENT OF PROBLEM

The initiative of the new policy – New Partnership for African Development (NEPAD) has called for many debates among economic analysts and different scholars in the country. Many were of the opinion that the programme will achieve its aim while others believed that it is a new wine into an old bottle. The problem of the study also revolves around the problems of the implementation. How do we then implement this policy? What impact will it have in the economic development of Africa countries? And how do we determine the productive level of the policy?

PROJECT TOPIC- NEW PARTNERSHIP FOR AFRICAN DEVELOPMENT (NEPAD): ANOTHER STRATEGY FOR ECONOMIC GROWTH

1.3    OBJECTIVES OF THE STUDY

The major focus of this research work is to find out what will be the impact of the NEPAD policy in Nigeria economy. Other objectives include:

  • To evaluate the achievement of NEPAD policy
  • To examine the major cause of policy failure in the country with respect to NEPAD
  • To analyse different benefits of the programme and
  • To make recommendation based on the findings.

1.4    HYPOTHESES OF THE STUDY

The hypotheses of the study are assumed as:

Ho: bi = 0 = Null hypothesis

Hi: bi ≠ 0 = Alternative hypothesis

In this study it is assumed that:

Ho: NEPAD policies has significant impact in economic growth

Hi: NEPAD          policies has no significant impact in economic growth.

1.5    SIGNIFICANCE OF THE STUDY

The study will attempt to provide necessary means, which will serve as a guideline to the government towards effective implementation of the policy. The work will also provide some sources of funds and how it can be applied to realise the expected end. To show the African leaders from time to time on how they can be visionary and hopeful leaders; and one of the major significance of this research work is to analyse the economic growth of Africa taken cognisance of the position of the economy before and during the policy.

1.6    SCOPE AND LIMITATION OF THE STUDY

This work covered some of African economy. It also looks at the level of African leadership participant in the programme. This work was limited to mostly Nigeria economy due to in-available of finance and material to carry on to the African countries. It also looks at the trade and output of Africa and the world.

PROJECT TOPIC- NEW PARTNERSHIP FOR AFRICAN DEVELOPMENT (NEPAD): ANOTHER STRATEGY FOR ECONOMIC GROWTH

 

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