THE IMPACT OF FOREIGN AIDS ON NATIONAL DEVELOPMENT

CHAPTER ONE

INTRODUCTION

Background of the study

Imperialism has been the most powerful force in the world history. It means the process whereby the dominant politico-economic interest of a nation dominate the raw material and markets of another people. Imperialism can also be defined as a policy extending a country’s power and influence by establishing colonies. Foreign and has been said to be a situation whereby developing county gets money and other aids to solve their problems for the good of the masses or citizens. There is no developing county that is not in one way of the other colonial before independence, looking at the third world countries, most especially Africa and using Nigeria as a study, one will begin to wonder what the county has been doing with the different kinds of aids it has been receiving.

 

1.2      STATEMENT OF THE PROBLEM

During the regime of President Olusegu Obasanjo 1999-2007. The issues of foreign aid was outstanding most especially on borrowing to move the country forward and also on gaining debt forgiveness from the Paris Club which Nigeria owes about thirty billion dollars. Some politicians and scholars believed that getting foreign aids in farm of loan was needed while some said no the idea because it will increase the nations debt profile and make the nation to apply the condition usually attached to such loans.

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Updated: 22nd June 2022 — 10:06 am