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CONTRADICTIONS IN THE POLITICAL ECONOMY AND THE DANGEROUS YOUTH PRECARIAT CLASS IN NIGERIA: THE IMPERATIVE OF A MULTI-STAKEHOLDER INTERVENTION

Imhonopi, , David and Urim, U.M. and Waribo, Young and Igbadumhe, Friday (2016) CONTRADICTIONS IN THE POLITICAL ECONOMY AND THE DANGEROUS YOUTH PRECARIAT CLASS IN NIGERIA: THE IMPERATIVE OF A MULTI-STAKEHOLDER INTERVENTION. In: The International Sociological Association Conference, JULY 10TH TO 14TH, 2016, UNIVERSITY OF VIENNA, AUSTRIA.

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Abstract

There are contradictions located in the Nigerian political economy. In the midst of the grinding poverty and marginalisation suffered by the majority, a tiny elite controls the political and economic levers of the state for the perpetuation of its hegemonic interests. On one hand, while the state role-plays as an indifferent ideological base for all interests within its territory, on the other hand, it seems to provide a stronghold that shelters the interests of the tiny elite or plutonomy. Additionally, members of this class indulge in a panoply of stupefying ostentation, grandeur and waste while the majority leads a precarious existence. Alarmingly, this gap between the privileged minority and the star-crossed majority has continued to distend, inescapably leading to a dangerous class conflict that may fulfil the Marxian apocalypse of the end of the capitalist or pseudo-capitalist system in the country. The youth precariat class, now a dangerous class, has emerged all over the country vociferously demanding equal access to the resources of the state which up until now have been in the stranglehold of the plutocracy. Situating this study within the Social Conflict Theory, as espoused by Karl Marx and other social conflict ideologues, the conflict between the dominant minority with the dominated majority appears unavoidable and increase Nigeria’s fragility if existing contradictions in the Nigerian political economy are sustained. This paper calls for a multi-stakeholder intervention involving government, the public and private sectors, faith organisations, civil society, the media, and the international community to arrest the looming apocalypse that may threaten Nigeria’s statehood unless the demands of the youth precariat class are met or their social and economic realities are improved upon

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Political Economy, Youth Precariat Class, Multi-Stakeholder Intervention, Social Conflict Theory, Nigeria
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 09 Sep 2016 11:57
Last Modified: 09 Sep 2016 11:57
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/7149

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