The political economy of multilateral economic cooperation, Nigeria and the Lomé conventions
Abstract (Summary)The purpose of this work is to, using Nigeria as a case study, critically examine the implications of one of the strategies adopted by a substantial number of the developing countrirs - the strateg- of multilateral economic cooperation or partnership with the advanced industrial economies which found expression in the ACP-EU Lomé Conventions first signed on February 38, 1975. For the ACP states. the need for an effective dei-elopment strategy has become very necessaq as a resull of their intractable dei-elopment problems. These countries seem either to have stagnated in the long process of development. or have even regressed. In the 1960s when most of them attained political independence. discussions about national development were lively. Publications in various fornis were produced on the theme and hopes were raised on the possibility of these countries becoming " developed " within a shon while. Lhfonunately. these hopes have not beeii fufîïllsd. .An esamination of the interna1 conditions in these countries reveals a disappoiiiting situation. The Lomé Conventions were. therefore. to assist these staies address this predicarnent. Specifically. the rationale of ACP-EU Lomé arrangement is. among others. the promotion of broad economic development of the ACP states. In view of the objectives of the Conventions. several questions have arisen which this study seeks answers to. First. to what extent have the provisions of the Conventions been realized for the ACP states? Put differently. hoa and to what extent has Nigeria as an ACP country been able to utilize the development opportunitics offered by the Lomé framework? Second. has there been an- improvements in the Nigerian economy as a result of the Conventions? That is. has the performance of the country in the Lomé arrangement been impressive or discouraging? If. in spite of the Lomé preferences. the countq's performance is discouraging. how could we explain such poor performance? Does this suggest that the Lomé-type strategy is not viable and not wonh pursuing by the ACP states? Fifi. @en the importance of the Conventions to these states. what can be done to remedy the identikd problerns so as to enable them improve their performance in the Conventions? Finall!.. in the context of some of the changes currently taking place in the global economy which are likdy 10 affect the Conventions. what does the future hold for Lomé? To these quesiions. we argue that generally. the objectives of the Lomé Conventions have yet to be significantly felt by the ACP states - in fact. these states lost eround in their economic relations with the EU (relative to other regions) in spire of the L Lome preferences. Most ACP states have not esperienced significant improvements in tlicir economies as a result of Lomé. Third.