Abstract
Given the central role of agriculture and the unprecedented changes in climate anticipated over the next few decades, the need for sustainable development cannot be over emphasized. Unfortunately, several human activities aimed at economic growth and development has put man and the environment in a precarious position. Such activities include bush fallow, inappropriate technologies, overpopulation, overgrazing, deforestation without adequate reforestation and profligate exploitation of mineral resources. The obvious result of these activities is the increasing inability of agricultural, forestry and water resources to enhance sustainability in the process of economic growth and development. This study therefore adopted an econometric approach to investigate the negative influence natural resource exploitation and utilization pose on Nigeria’s economic development. However, the paper believes that, in as much as technological advancement and innovation is a sine qua non for economic growth and development in nearly all the sectors of the Nigerian economy, such advancement must be approach with caution because of its associated implications on environment, natural resources and most importantly sustainability of our economic growth and development process. Hence, appropriate management via the adoption of a more pragmatic and environmental friendly approaches such as renewable energy sources mostly in the power sector as well as zero tolerance for gas flaring. DOI: 10.5901/ajis.2014.v3n4p373
Highlights
Sustainability expands the concept of development by recognizing the ecological limits imposed on achieving a given set of development objectives
The central role played by the agricultural sector in economic growth and development cannot be over emphasized rather it’s patient to note that such resources due to its renewability in nature are significant for sustainable development
The following hypothesis was tested to satisfy the broad objectives of this study: (i) Ho Technological advantage has a negative impact in the Nigerian economy. (ii) Ho: Gas flaring has a negative influence on economic growth of Nigeria. (iii) Ho: There is no significant relationship between agricultural output and economic growth in Nigeria
Summary
Sustainability expands the concept of development by recognizing the ecological limits imposed on achieving a given set of development objectives. The central role played by the agricultural sector (including forestry and water resources ) in economic growth and development cannot be over emphasized rather it’s patient to note that such resources due to its renewability in nature are significant for sustainable development. Suffice us to add that sustainable development emerged as a new development paradigm and has been adopted by the international community as an overarching development goal since the United Nations Conference on Environment and Development (UNCED) held at Rio de janeiro in 1992. At the world summit on sustainable development in Johannesburg in 2002, government adopted the Johannesburg plan of implementation (JPOI) which called upon countries to take immediate steps to make progress in the formulation and elaboration of the National Sustainable Development Strategy (NSDS), and begin their implementation by 2005. Following several years of military rule and poor economic mismanagement, Nigeria experienced a prolong period of economic stagnation, rising poverty levels, and the decline of its public institutions in spite of her abundant human and natural resources
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