Abstract
Abstract This study examines resource allocation and utilization in Nigeria as the missing link in the nation’s quest for sustainable development. The main objective of the research is to examine how inefficient allocation and utilization of material, human and financial resources has made the attainment of sustainable development goals (SDGs) elusive in Nigeria. Given the abundant resources at the disposal of successive regimes in the country, it is difficult to explain why the citizens remain desperately poor with 70 percent living below poverty line. The excruciating poverty faced by the rural majority and the urban poor has led some people into indulging in unwholesome practices such as armed robbery, pipeline vandalism, prostitution, risky migrations, advanced fee fraud and other forms of social vices. The paper utilizes a qualitative design based on the interpretivist philosophy while the ontological orientation is subjectivism. Findings from the study indicate that there has been gross inefficiency in resource allocation and utilization in Nigeria due to corruption, ethnic prejudices, bad governance practices, absence of accountability, lack of transparency and wasteful spending on frivolous activities. Conclusion drawn from the study indicates that if proper project planning, execution, monitoring and evaluation are carried out in a transparent manner, and resources are efficiently allocated and utilized, Nigeria would be on the path to sustainable development. The paper therefore recommends that economic and technical efficiencies should be embraced in resource allocation and utilization for Nigeria to attain sustainable development goals.
Highlights
Nigeria is blessed with abundant human and natural resources as the country is regarded as one of the most naturally endowed nations in the world
The discovery of oil in large commercial quantities in 1957 at Oloibiri, as well as other precious solid minerals, paved the way for wealth and greatness for the country shortly after independence from Britain in 1960. The attainment of this ideal state has so far remained a mirage due to gross mismanagement arising from inefficient resource allocation and utilization (Mohammed, 2013)
It was observed that materials are not procured at competitive rates by government agencies, political appointments are based on ethnic prejudices and political patronage; financial resources are usually wasted in white elephant projects that are of little or no relevance to the well-being of the citizenry while graft and corruption are tolerated by the ruling parties
Summary
Nigeria is blessed with abundant human and natural resources as the country is regarded as one of the most naturally endowed nations in the world. Ogbeidi (2012) observes that by 1974 reports of unaccountable wealth of the military governors at that time and some public office holders had become the crux of discussion in the various national newspapers. The Okigbo Panel Report of 1994 had indicted the former military ruler, Ibraham Babangida, of misappropriating the sum of $12.4 billion oil windfall in questionable projects (Ogbeidi, 2012). The Shehu Shagari administration (1979-1983) was alleged to have misappropriated over $16 billion oil windfall in highly controversial circumstances, including financing of projects that had no developmental value for the citizenry
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