ECONOMY OF NIGERIA
Nigeria's Economic Strategy and Oil According to reports, the government of Nigeria has no real economic policy (Editor 2008). While there have been many complaints even about the last president who did accomplish some positive things for the country, the past president did have an economic policy (Editor 2008). The author commented that "most African countries have virtually jettisoned planning in favour [sic] of Poverty Reduction Strategy Papers (PRSPs)" (Editor 2008). The money saved from reducing the debt is supposed to be dedicated to social programs but that just does not seem to be happening (Editor 2008). There is no lack of plans that have been written. For instance, there is the Vision 20/2020 plan that states Nigeria will become one of the twenty most developed countries in that time span (Editor 2008). There is also the Financial Sector Strategy for 2020 devised by Nigeria's Central Bank to become the financial hub in Africa and t hen there is the Millennium Development Goals international plan through which poverty is supposed to be reduced by 50 percent by 2015 (Editor 2008). On top of those, there is the National Poverty Eradication Programme and the State Empowerment and Economic Development Strategies, among others (Editor 2008). But, at this time, there are no economic policies, no philosophy and no framework to realize the goals in any of these plans (Editor 2008).
History and Demographics The history of Nigeria dates back to at least 2000 B.C. when it was a sparsely population area (Pearson Education 2008). The Nok cult