COMPARATIVE ANALYSIS OF THE UNDERDEVELOPMENT, RESOURCE AND ECONOMIC SCARCITY IN CONTEMPORARY NIGERIA
INTRODUCTION Underdevelopment has plunged its elongated claws into the beating heart of the Nigerian system, effectively corrupting the life source of the political body and leaving it lifeless. Nigeria has gone through various stages of metamorphosis, but unlike the circle of life where everything moves forward, Nigeria seems to be retrogressing. Resource and economic scarcity, comrade-in-arms, have hammered the final nails into the coffin waiting for the day when Nigeria will finally become a failed state. Therefore, in this article, a comparison will be drawn between the economy of the immediate post-colonial era, and the present Nigeria, including some foreign countries, how demonetization can benefit the Nigerian economy, and the factors of underdevelopment, resource and economic scarcity in Nigeria. UNDERDEVELOPMENT IN CONTEMPORARY NIGERIA According to Walter Rodney, underdevelopment largely consists of two elements: the comparative aspect and the interaction between exploitat...