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The reform-underdevelopmentalism nexus in a dependent state: a case study of the Nigerian banking sector reforms

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  • Sylvanus I. Ebohon

Abstract

This paper attempts to capture the link between reform and development of the Nigerian banking sector. As a single-resource economy, Nigeria's development is embedded in a dependence framework in which commission forms the basis of primitive accumulation. The analysis, which is based on empirical evidence from primary and secondary sources, shows capital flight, toxic assets, abnormal profitability and margin banking in the Nigerian reform. It argues that within the framework of dependence reformism tied to metropolitan technology, reforms cannot produce mega banks. Backward integration offers Nigeria the hope for transiting from economically underdeveloped south to economically developed north.

Suggested Citation

  • Sylvanus I. Ebohon, 2015. "The reform-underdevelopmentalism nexus in a dependent state: a case study of the Nigerian banking sector reforms," Review of African Political Economy, Taylor & Francis Journals, vol. 42(144), pages 262-278, June.
    • Handle: RePEc:taf:revape:v:42:y:2015:i:144:p:262-278
    DOI: 10.1080/03056244.2015.1020940
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    References listed on IDEAS

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    1. Okonjo-Iweala, Ngozi, 2012. "Reforming the Unreformable: Lessons from Nigeria," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262018144, April.
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