Challenges and Problems of Rentier Economy in Africa (Nigeria Case Study)

Muhammed Abideen Abeeb ,
Department of General Studies Federal Polytechnic, Damaturu



The mono-cultural nature of Africa economy has a lot of implication on its development, most African countries more especially the oil rich states, otherwise call rentier states depends heavily on external rent, this possess a lot of challenges and problem to their economy the implication of this are enormous, poverty, unemployment economic stagnation, corruption, civil unrest etc. Documentary in textbook, journals, periodical and data on the internet will be explored; Neo-colonization, dependency and imperialism are still but crux of the lack of development. Internal economic mobilization and diversification is seen as the way out.