JAMB 2020 Economics · Question 36

One of the major criticism of the 1962 -1968 National Development Plan was that?

Options

  1. A.it failed to incorporate lessons gained from earlier plans to enhance its efficiency
  2. B.it came too quickly after the country's independence
  3. C.planned expenditure was based too heavily on expected earnings from crude oil
  4. D.its execution was based largely on foregn-sourced financial resources

Answer: D. its execution was based largely on foregn-sourced financial resources

Explanation written with AI and checked against the answer key

Analyze the question: It asks for a major criticism of Nigeria's First National Development Plan (1962-1968).

Concept: The First National Development Plan was Nigeria's first major plan after independence in 1960. It was meant to raise economic growth, develop infrastructure (such as the Niger Dam at Kainji and the Niger Bridge), and expand education and agriculture. Its main weaknesses were:

  • It relied heavily on external funding. About 50% or more of the planned public capital expenditure was expected from foreign loans and grants, but much of that money never arrived.
  • It was affected by political instability (the 1964 election crisis, the 1966 coups and the civil war from 1967).
  • There was a shortage of skilled manpower and poor statistical data.

Evaluating the options:

  • A. The plan was the first of its kind in independent Nigeria, so there were no earlier national plans to learn from. The colonial plans (1946-1956 and 1955-1960) did exist, but this was not the main criticism.
  • B. Timing was not a major criticism. The plan began two years after independence.
  • C. Crude oil was not yet a major revenue earner in the early 1960s. Oil only became dominant in the 1970s, so the plan could not have relied on it heavily. This describes the Second Plan (1970-74) and later plans better.
  • D. The plan depended largely on foreign financial resources, which made its execution uncertain when the funds did not come in. This is the well-known criticism.

Answer: D.

Exam tip: Link plans to their key features:

  • First Plan (1962-68): foreign-financed, and disrupted by political crisis and war.
  • Second Plan (1970-74): post-war reconstruction, rehabilitation and reconciliation.
  • Third Plan (1975-80): oil boom spending.

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