African Journal of
Political Science and International Relations

  • Abbreviation: Afr. J. Pol. Sci. Int. Relat.
  • Language: English
  • ISSN: 1996-0832
  • DOI: 10.5897/AJPSIR
  • Start Year: 2007
  • Published Articles: 383

Full Length Research Paper

The political economy of recession in Nigeria’s fourth republic

Monday E. Dickson
  • Monday E. Dickson
  • Department of Political Science, Akwa Ibom State University, Obio Akpa Campus Nigeria.
  • Google Scholar
Gerald E. Ezirim
  • Gerald E. Ezirim
  • Department of Political Science, University of Nigeria, Nsukka, Enugu State, Nigeria.
  • Google Scholar

  •  Received: 04 April 2017
  •  Accepted: 12 June 2017
  •  Published: 31 July 2017


Abdullahi SI (2016). Can Nigerian Economy avoid Recession?. Economic Issues. Available at: 

View. [Accessed April 12, 2017].


Adebayo H (2016). Nigeria: Technically in Recession. Premium Times.


Aig-Imoukhuede A (n.d). Nigeria's Fourth Republic: Economy and Opportunities beyong Politics. 


Akpan NS (2012). From Agriculture to Petroleum oil Production: What Has Changed about Nigeria's Rural Development. Int. J. Dev. Soc. 1(3):97-106.


Amuche N (2016). Nigeria's Economy and the Danger of Oil Dependency. Authority.


Aziken E (2016). Nigeria had no political will to save under Jonathan. 


Claessens S, Rose A (2012). Recession: When Bad Times Prevail. 


Claessens S, Rose A (2009). Back to Basics: What is a Recession?. Finance & Development, A Quarterly Publication of the International Monetary Fund. 46(1).


Corsetti G, Pesenti P, Roubini N (1999). What caused the Asian currency and Financial Crisis? Japan World Econ. 11:305-373.


Cypher JM, Dietz JL (2009). The Process of Economic Development. 3rd Edition. London, New York: Routledge.


Ekong CN (2016). The Nigerian University System in a Depressed Economy. A Keynote Address Presented at CEPED Symposium organized by the Academic Staff Union of Universities (ASUU) Calabar Zone at University of Uyo, Uyo, Nigeria.


Ezekial M (1938). The Cobweb Theorem. Quart. J. Econ., 52: 255-280.


Goldstein M (1998). The Asian Financial Crisis: Causes, Cures and Systemic Implications. Washingtin, D.C.: Institute for International Economics.


Greennews (2016). 10 Biggest Corruption Cases that Shook Nigeria in 2015. Available at: 



Gurtner B (2010). The Financial and Economic Crisis and Developing Countries. International Development Policy. London.


Hawtrey RG (1913). Good and Bad Trade. London: Constable & Co.


Ihonvbere JO, Turner TE (1993). Africa in the Post-Containment Era: Constraint, Pressure and Prospects for the 21st Century. The Round Table. Commonwealth J. Int. Affairs 82(328).


Jevons WS (1884). Investigation in Currency and Finance. London: Macmillam.


Ikeke N (2017). Nigerian Economy to grow by 0.8% in 2017 and 2.3% in 2018. 


Inokotong J, Salami O (2016). Nigeria Economy in Recession. Nigerian Pilot.


Kanayor S (n.d). Discussion Ten incidence of Corruption in Nigeria from 1999 to date. 


Knoop TA (2015). Business Cycle Economics: Understanding Recessions and Depression from Boom to Bust. SantaBarbara, Califonia: Praeger


Leamer EE (2009). Macroeconomics Patterns and Stories: A Guide for MBAs. Verlag Berlin Heidelberg: Springer.


Mazurek J, Mielcova E (2013). The Evaluation of Economic Recession's Magnitude: Introduction and Application. Praque Economic Papers, 2. 


Mitchell W (1927). Business Cycles: The Problem and its Setting. New York: National Bureau of Economic Research.


Monye-Emina AI (2009). Agricultural Revival Strategies: An Appraisal of the Nigerian Experience. J. Soc. Econ. Dev. 11(1).


National Bureau of Statistics (2016). Nigeria's historical real GDP growth rate in the Fourth Republic. [Accessed April 12, 2017].


Ndujihe C (2016). Under Jonathan, Nigeria earned N 51trillion from Crude Oil. 


Noko EJ (2016). Economic Recession in Nigeria: Causes and Solutions. Available at: 

View. [Accessed April 16, 2017].


Obia V (2017). Magu: 90% of the Cause of our Recession is Corruption. 


Overseas Development Institute (1982). Briefing Paper No. 2. Overseas Development Institute, September.


Odularu GO (2007). Crude Oil and the Nigerian Economic Performance. Oil Gas Business. 


Olufemi J, Akinwumi R, Ugonna C (2015). Top 10 Corruption Scandals Nigeria's National Assembly Has'nt Resolved. Premius Times. Available at: 



Orode A (2016). Possible Causes of Nigeria's Economic Recession. Available at: 

View [Accessed April 19, 2017]


Pritzker PS, Arnold K, Moter BC (2015). Measuring Economics: A Primer on GDP and National Income and Product Account. USA: Bureau of Economic Analysis.


Punch (2015). Ex-Governors Have 172Bn Cases of Fraud. 


Resnick S, Wolff R (2011). A Marxist Explanation of the Crisis. 


Russett B, Starr H, Kinsella D (2010). World Politics: The Menu for Choice. 9th Edition. Australia, Brazil: Wadsworth Cengage Learning.


Rwelamila PD (2012). Research Contribution to the Innovation in Infrastructure Development in Africa: Assessing the Status. J. Constr. Dev. Countries. 1:43-56.


Sanusi M (2016). How Nigerian Government Caused Economic Recession. Premium Times, September 2.


Shisken J (1974). The Changing Business Cycle. The New York Times, December 1.


Tell (2015). High Profile Corruption Cases Being Prosecuted By The EFCC [2003 till date]. 


The Economist (2008). Redefining Recession. Available at: 

View. [Accessed January 29, 2017]


Thiboutot M (2004). Cures to Stalled Development: Causes and Solutions to Economic Crises in Sub-Saharan Africa. Unpublished M.A Thesis, University of Central Florida.


Thirlwall AP (1999). Growth and Development. London: Macmillan Press.


Tule MK (2012). Economic Recession, Understanding Monetary Policy Series, 14, Abuja: Central Bank of Nigeria.


Turner B (2011). The Statesman's Yearbook 2011: The Politics, Culture and Economies of the World. New York: Springer Nature.


Wicksell K (1936). Interest and Prices: A Study of the Causes of Regulating the Value of Money. London: Macmillan


Wong RYC (1999). Lessons from the Asian Financial Crisis. Cato J. 18(3):22-32.