Thesis Abstract

The role of international financial institutions in the development of the Nigerian economy is crucial and multifaceted. This research aims to explore and analyze the impact of international financial institutions such as the World Bank, International Monetary Fund (IMF), and African Development Bank on Nigeria's economic development. The study employs a mixed-methods approach, combining both qualitative and quantitative data analysis. Qualitative data is gathered through interviews with key stakeholders in the Nigerian government, international financial institutions, and the private sector. The quantitative analysis involves examining economic indicators such as GDP growth, inflation rates, foreign direct investment, and debt levels before and after the intervention of international financial institutions. The findings suggest that international financial institutions have played a significant role in shaping Nigeria's economic policies and reforms. The World Bank and IMF have provided financial assistance and technical expertise to support macroeconomic stability, structural reforms, and poverty reduction programs in Nigeria. The African Development Bank has also funded various development projects in sectors such as infrastructure, agriculture, and education. However, the study also highlights some challenges and criticisms related to the role of international financial institutions in Nigeria. Critics argue that conditionalities attached to loans and assistance packages often prioritize the interests of donor countries over the needs of the Nigerian population. There are concerns about the impact of austerity measures, privatization policies, and deregulation on income inequality, social welfare, and sustainable development in Nigeria. In conclusion, international financial institutions have had a significant influence on Nigeria's economic development trajectory. While their support has helped stabilize the economy, implement reforms, and fund development projects, there are also valid concerns about the implications of their policies and interventions. Moving forward, it is essential for Nigeria to engage in transparent and inclusive partnerships with international financial institutions, ensuring that development agendas are aligned with the country's long-term economic and social objectives. By striking a balance between external support and domestic priorities, Nigeria can harness the benefits of international financial institutions while safeguarding its sovereignty and promoting sustainable development.

Thesis Overview

1.1      BACKGROUND OF THE STUDY

INTRODUCTION

 The financial Institutions are essential agents in the development of an economy. They engage in financial inter-mediation , which provides the needed financial resources to the various sections of the economy where they are required for purposes of development. These institutions because of the vital role the play in the economy are regarded key agents in the economic development process of every cation both the developing and the developed economics.

1.2      STATEMENT OF THE PROBLEM

        In our country (Nigerian) to day, there are various roles expected of the international financial institutions to enhance the development of the Nigeria Economy. The institution are the international monetary fund (IMF) international for reconstruction and development (IBRD) etc. The international monetary fund (imf) the role expected from imf.

To promote international monetary co-operation through permanent institution which provides machinery for consultation and collaboration in international money problems.

To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high level of employment and real income and to develop the productive resources of all member nations.

The international Bank for Reconstruction and development (IBRD) The roles expected from IBRD.

To shorter the loans extended to developing nations including Nigeria.

To support for a wide variety of project related to agriculture, education industry, electricity rural development tourism, transportation population planning, water supply and telecommunication.

1.3      PURPOSE/OBJECTIVE OF THE STUDY

These expected roles is to assess how international monetary find (imf) and international Bank for reconstruction and development contributes to the development of the Nigeria Economy. This study is to assess the various problem and prospects of international financial institutions (imf, ibrd) the aim of the study is.

1.          To investigate how to provide financial and technical help for the development of poor countries.

2.          To investigate how the interest rate are charge by the bank.

3.          To investigate how to finance substantial economic development needs of the nations.

4.          To examine how the bank emphasizes repayment capacity in its lending.

I.4    SIGNIFICANCE OF THE STUDY

This research work will help as many that are interested in financial institutions like IMF, IBRD.

  INVESTORS:    The research work will be of immense benefit to the investors. It will help them to know how to invest in commercial enterprises in developing countries.

Banking and finance students: that will serve as a source of  secondary data for student in banking and finance it will  also lender their scope of research.