Question

write on the element of the new international
l economy order as it relate to Nigeria

Answer 1

Answer:

The New International Economic Order (NIEO) is a set of proposals advocated by developing countries to end economic colonialism and dependency through a new interdependent economy.

The crucial aim of the NIEO is to promote economic development among the poor countries through self- help and South-South co-operation. The NIEO intends to deal with the major problems of the South, such as balance of payments disequilibrium, debt crisis, exchange scarcity etc