1.1 Background of the Study
The concept of dependency and underdevelopment draws our attention to the stagnation, deplorable and peripheral condition of Africa, Asia, Latin America, in the international system. Africa, among other continents in the world, is seen as the poorest continent of the world. In the international system, the G8 (Group of eight) and other international organizations regard Africa states as
“POOR” thereby seeing Africa as an incapable or handicapped continent.
The reason becomes why they give out loans to most African states in order to attain the international standard of development, thereby making Africa indebted to the European countries. It is also for the same reason most international organization are established, towards the development of Africa states. Development of most
African states here implies meeting up with the European standard. Taking a look at Africa, it is seen that the problem of underdevelopment in Africa, centers on their inability to transform their raw materials to finished products, as well as their inability to properly manage and harness their products management and good leadership. The African continent is presently facing a unique and unprecedented crisis or problems in its history as a human society. These problems also transcends previous calculations of socio-economic background, balance of payment deficit, poor health statistics, material poverty indebtedness, poor education, disorganizing ethnic welfare, rapid capital flight, alleged law capacity utilization of materials and other human resources and so on. The above listed problems are what makes Africa dependent and underdeveloped, as a result of its incapability to overcome these problems or tackle them successfully. This study attempts to explore the
dimensions of dependency and underdevelopment and access the impact of Africa using Nigeria as a reference point.