ABSTRACT
This chapter examines the policy process and document of National Economic Empowerment and Development Strategy (NEEDS) as well as the implementation to explore the extent of its indigeneity and its impact in shaping the socio-economic development in the country. In 2010, a long term development plan known as Vision 2020 was introduced by late President Musa Yaradua and later inherited by President Goodluck Jonathan. The chapter provides a historical narrative to aid the understanding of the country's current socio-economic institutional foundation for development. A stated policy objective of the British colonial rule in Nigeria, as in other African countries, was to secure political stability and resource extraction from conquered states with as little British presence on the ground as possible. The implementation of NEEDS was focused on fiscal prudence, macroeconomic stabilization, privatization, liberalization and deregulation, gaining international approval and acceptance.
