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The study examined the World Bank loan conditionalities and the politics of poverty reduction in Africa, with emphasis on Nigeria. Several decades of grappling with World Bank loan conditionalities and poverty reduction strategies have, at best, yielded meager returns as poverty and underdevelopment persist. Thus, the study investigated the implementation of World Bank loan conditionalities and their impact on social welfare in Nigeria. The study predicated its investigations on the method of analysis derived from Marxian political economy (dialectical materialism); while method of data collection was qualitative in nature. Data collected were analyzed using qualitative descriptive analysis. The study noted, among others, that there have been politicization, inconsistencies, contradictions and failures in the implementation of World Bank loan conditionalities. The study sees the existence of class, poverty and inequality in spite of mounted programmes and strategies for poverty reduction in Nigeria, to be intrinsic in the character of political leaders that inherited the state apparatuses at independence. The study argues that poverty reduction mantra is a façade as the Nigeria state institutionalized poverty and inequality. The study recommended that the neo-colonial capitalist economic system should be jettisoned by our leaders as it institutionalizes the existence of class which glorifies the widening gap between the rich and the poor; and equally suggests that Nigeria should utilize her local resources for production to take care of her citizens who wallop in abject poverty.

TABLE OF CONTENTS Title Page —————————————————————————————-i Approval Page ———————————————————————————–ii Dedication —————————————————————————————-iii Acknowledgement ——————————————————————————iv Table of Contents ——————————————————————————–vi List of Tables————————————————————————————-viii List of Figures ———————————————————————————–x Abbreviations ————————————————————————————xi Abstract ——————————————————————————————-xiv CHAPTER ONE: INTRODUCTION —————————————————–1 1.1 Background of the Study ——————————————————————1 1.2 Statement of the Problem ——————————————————————6 1.3 Objectives of the Study ——————————————————————–10 1.4 Significance of the Study ——————————————————————10 1.5 Literature Review ————————————————————————–12 1.6 Theoretical Framework ——————————————————————–24 1.7 Hypotheses ———————————————————————————–32 1.8 Method of Data Collection —————————————————————-32 1.9 Method of Data Analysis ——————————————————————35 CHAPTER TWO: PRIVATIZATION OF PUBLIC ENTERPRISES AND EMPLOYMENT GENERATION IN NIGERIA —————————————36 2.1 The Privatization of Public Enterprises as a condition to assess the World Bank Loan ———————————————————————-36 2.2 Historical Background of Privatization of Public Enterprises ————————43 2.3 The Privatization of Public Enterprises in Nigeria 1999 – 2012 ———————47 2.4 The Privatization of Public Enterprises and Contradictions of Poverty Reduction ——————————————————————–62 2.5 The Privatization of Public Enterprises and Employment Generation in Nigeria 1999 – 2012 ——————————————————————72 CHAPTER THREE: GOVERNMENT FUNDING OF SOCIAL WELFARE AND PRIMARY HEALTTH CARE DELIVERY IN NIGERIA ————-83 3.1 Reduction in Government Expenditure as a Condition to assess the World Bank Loan ———————————————————————-83 3.2 Government Expenditure on Social Welfare in Nigeria, 1999 – 2012 ————– 85 3.3 Primary Health Care Delivery ————————————————————92 3.4 Current Status and Gaps in Primary Health Care Services in Nigeria ————–97 3.5 Reduction in Government Expenditure on Social Welfare and Primary Health Care Delivery ——————————————————————————–103 CHAPTER FOUR: WORLD BANK DEVELOPMENT ASSISTANCE AND HUMAN CAPACITY DEVELOPMENT IN NIGERIA —————-112 4.1 World Bank and Developing Economies ————————————————112 4.2 World Bank Development Assistance to Nigeria ————————————–114 4.3 Overview of Nigeria’s Human Capacity Development between 1999 and 2012 ————————————————————————–122 4.4 World Bank Development Assistance Packages between 1999 and 2012 ———130 4.5 Impact of World Bank Development Assistance on Human Capacity Development in Nigeria ———————————————————132 CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS ————————————————————138 5.1 Summary ————————————————————————————-138 5.2 Conclusion ———————————————————————————–141 5.3 Recommendations ————————————————————————–144 BIBLIOGRAPHY —————————————————————————–145

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