An Assessment of Determinant Factors for a Sustainable Green Economy in Nigeria

Abstract

Green Economy (GE) is a low-carbon, resource-efficient, socially inclusive economy that is fair, efficient, and embraced by all the stakeholders from the leadership, people, and industry, especially those in the techno-economic sectors, to enable synergy of the GE framework whose purpose is to tackle the environmental challenges and deterioration of the ecosystems. The GE concept, its applications, rate of success/failure differs across various countries. Developing countries like Nigeria are striving to transform the economy to a GE that will enhance Sustainable development. However, some factors either hindering and or promote the GE developments. Thus, this research aims to identify and assess the determinant factors (DF) for sustaining a GE in Nigeria to categorize the factors as hindrances/barriers and promoters/drivers of GE. Mono Quantitative method was adopted to collect and analyze the data obtained from a questionnaire survey. The quantitative data was based on the eleven determinant factors for a GE identified in the literature. Quantitative analytical tools like Cronbach Alpha for consistency, Mean Item Score (MIS), Relative Importance Index (RII), and T-test statistics were used to analyze GE factors in Nigeria. The result indicated that six DF promotes and drives GE in Nigeria while five DF hinder the GE development in Nigeria.