About the BookEven as Nigeria embraces neoliberalism, its developmental performance continues to disappoint, with poverty graph going up, persistent inequality and unemployment rising to a peak. The book is concerned with the issue of Nigerian underdevelopment in the context of growing Foreign Direct Investment (FDI) in the region. Following recent Chinese involvement in Africa, there has been much demonization of Chinese FDI, and this fits into the general projection of MNCs as instruments of imperialism and exploitation. The neoclassical economists, on the other hand, eulogise the benefits of FDI in their glorification of global markets.
The book seeks a balance between the two views while revisiting the assumption of a lack of agency of a sovereign territory under globalisation noted in most of the current scholarship on the subject. The prospect, then, of development led by the state, including by utilising FDI for development is, by implication, considered bleak, if not entirely discounted. But exploring a view on Third World underdevelopment that rests on an institutional-statist perspective would lead us to begin to surmount the postulation that international capital is unmanageable and invincible. The book intends to do the same with regards to Nigeria.About the Author/sAbhirup Bhunia obtained his master’s degree in Global Political Economy from the University of Sussex, UK. His areas of interest include the political economy of India, and South-South developmental relations. He has authored several papers on development-related issues during his association with reputed think-tanks, like Institute of Economic Growth, New Delhi and Observation Research Foundation. He is presently based in Delhi where he is employed with a reputed consulting firm handling development assignments funded by the government, international agencies/NGOs and donor agencies. His commentary has appeared in national and international newspapers and magazines, like Global Times (Beijing), Business Line, Business Standard, The Pioneer, Business Economics and Diplomatic Courier (Washington), among others.