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The Political Economy Of World Bank Projects In Nigeria: Myths And Realities
Abstract
The World Bank is an international financial institution established to help finance development-focused projects in countries going through economic challenges. The Bank was able to help Europe revamp her economy after World War II but the story in different in her dealing with developing countries including Nigeria. This paper, therefore, examined the myths and realities of World Bank projects in Nigeria, especially from 1999 to 2015. The methodological approach in this paper is secondary and qualitatively in orientation. The method of analysis is descriptive based on documentary materials like books, journal and internet sources. The finding of this paper revealed that although World Bank carry out projects in Nigeria, the impact of these projects does more harm to the Nigerian economy than good. Consequently, it was recommended that Nigeria should resolve her internal contradictions and look inward to cater for her basic needs such as education, health, employment, shelter, power, food, etc, rather than going cap in hand for borrowing.
