NPSA Raises Alarm Over Foreign Economic Policies: “They’re Hurting Nigeria, Not Helping”
By Erewunmi Peace
The Nigerian Political Science Association (NPSA) has expressed strong concerns over the country’s continued reliance on foreign economic advice, warning that such externally driven strategies are undermining national progress.
In a communique issued at the end of its second virtual conference, NPSA — led by its president, Professor Hassan Saliu — emphasized that many of the economic models imported into Nigeria do not reflect the country’s unique political and socio-economic realities.
“We have observed that many of the economic prescriptions from international bodies are counterproductive to Nigeria’s development,” the statement read. “There’s an urgent need to localize our economic strategies and stop depending on foreign models that don’t fit our context.”
Call for Homegrown Policies
The association urged Nigerian policymakers to focus on:
Developing homegrown economic solutions,
Rebuilding local industries and capacity, and
Investing more in youth empowerment and innovation.
NPSA also stressed the need to restructure Nigeria’s anti-corruption institutions to ensure they are independent and effective.
Rising Debt and External Influence
Another major concern raised by the body was Nigeria’s growing debt profile, much of which is tied to foreign loans. The association argued that these debts often come with strings attached and policy conditions that limit the country’s sovereignty in decision-making.
“It is high time we stopped allowing external bodies to dictate our development pace and direction. We must define our own path,” NPSA said.
Broader Foreign Policy Review Needed
Earlier in the year, NPSA had also called for a comprehensive review of Nigeria’s foreign policy direction, lamenting the country’s declining influence within the African continent and globally.
The NPSA’s statement has sparked renewed debate among scholars and policymakers, many of whom agree that while international collaboration is essential, Nigeria must begin to prioritize local realities in its economic planning and policy execution.
