ABSTRACT
At the time of independence in 1960 there was great expectation of rapid economic and social growth in Nigeria. Four decades later these expectations have not been realized. There is a consensus among Nigeria scholars that the present economic development crisis in Nigeria resulted from the development policies in the 1960s, 1970s and 1980s. The development policies in the above three decades were centered on import substitution strategies rather than development industrials that could used the raw materials available in Nigeria.
