IMPACT OF RELIGION ON ECONOMIC DIVERSIFICATION IN NIGERIA: AMIDST RELIGIOUS CONFLICTS

Abstract

Operating a mono-economic structure and the constant reliance on oil sector has been viewed as the major challenges of the Nigerian economy. The prospect of Nigerian economy towards attaining a sustainable growth and development, as many Economists would observe, requires the correction of this existing structuring distortions. Diversification of her economy is seen as the easiest way to record this growth and development in the economy. Unfortunately, the influence of Religion on this growth and development has been relegated to the background. Can there really be any visible economic diversification programme/project in Nigeria amidst the present religious sentiments and turmoil in the country? It is this gap that the present study proposes to fill. The study among others aims at unraveling the impact of religion on economic diversification and growth in Nigeria. The study draws on data from available literature but bent on analyzing them critically using descriptive phenomenological method. The study found out that religion can either play a positive or negative role in the economic growth and development of the country.