Looking back, it is clear that the economy has not actually performed to its fullest potential, particularly in the face of its rising population. The Nigerian economy has grossly underperformed relative to her enormous resource endowment and the achievements of her peers/other developing nations with similar characteristics.
This is, particularly so, because agriculture has remained largely peasant, while the high contributions of the tertiary sector to output suggest that the sector is not really servicing the Nigerian economy but, indeed, other economies. Little wonder then that the diversification index remains below 0.4 per cent over the years in spite of the numerous reforms that have been put in place.