Economic Development: this involves growth in total real national income and real per-capital income of a developing country like Nigeria over a long period of time. It implies the achievement of the entire society and the attainment of a number of set economic objectives that can improve the standard of living of people. Put simply, economic development is real growth including substantial change in the economy with export value for both the aid giving and aid receiving countries. Economic development refers to the problems of under developed countries, which involves a discontinuous and spontaneous change in the stationary state which for ever alters and displaces the equilibrium state of the economy previously existing.Foreconomicdevelopmenttooccur,it requires and involves some sort of planning, direction, regulation and
guidance to generate the forces of expansion and maintain them.