Development In Nigeria Research Articles

The Naira exchange rate and the performance of export-oriented small-scale enterprises in Nigeria: 2006 - 2022

This study examines the impact of naira exchange rate fluctuations on export-oriented small-scale enterprises (EO-SSEs) in Nigeria between 2012 and 2021. Despite the government's implementation of various policies to stabilize the naira, the exchange rate instability has adversely affected EO-SSEs by increasing uncertainty, inflating import costs, and reducing competitiveness. Using multiple regression analysis, the study reveals that while exchange rate fluctuations negatively impact EO-SSE performance, real interest rates show a mixed effect. Findings indicate that macroeconomic variables like exchange rates and interest rates significantly influence EO-SSE growth but require better management to enhance their contributions to Nigeria's economic development. The study concludes with recommendations for improved fiscal policies, tax incentives, environmental management, and internal controls to bolster the performance of EO-SSEs.

The Socioeconomic Impact of Fertility Rates on Nigeria's Development: A Policy Perspective

This paper explores the socioeconomic impact of Nigerias high fertility rate and its influence on the countrys economic development. With a fertility rate of 5.14 children per woman in 2022, far exceeding the global average, Nigeria faces significant demographic challenges. The analysis focuses on three critical data points: fertility rate, female tertiary education rate, and female labor force participation rate. The findings highlight how cultural factors, educational attainment, and labor market participation contribute to sustained high fertility rates, particularly in rural areas. Additionally, the paper examines how these factors exacerbate gender inequality and limit economic opportunities for women, thereby hindering Nigeria's overall economic progress. Policy recommendations include promoting female education and workforce participation to help manage population growth and stimulate economic development.

Evaluating the New Impetus for Entrenching Entrepreneurship Culture in Nigeria (2010 and Beyond): Lessons and Future Public Policy Directions

Purpose: This study was designed to evaluate the impact of Nigeria’s entrepreneurship development policies on the emergence and performance of entrepreneurship in recent decades from 2010 to date. Methodology/Approach: The study adopted the periodisation paradigm to examine entrepreneurship development efforts at crucial turning points in Nigeria's development. Findings: The business environment has been hostile to entrepreneurship. However, the ICT and the creative industries sub-sectors recorded some successes. Nevertheless, the power, security, agriculture, and education sub-sectors performed unsatisfactorily. The government’s inability to overrun terrorist groups thwarted peace and security upon which development depended. High-level official corruption has been hobbling the implementation of entrepreneurship development policies in Nigeria. Implications: The study pointed at general and specific lessons derived from the hostile global and local/national environments for improving on entrepreneurship development policies. Originality value: Using a conceptual framework we developed, the study showed that security is an overriding factor in achieving success in entrepreneurship development. Contrary to the claims of some strategy scholars, strategic management is not a panacea for attaining successful entrepreneurship; what is crucially important for success are dynamic capabilities, context-driven public policies, and their competent implementation.

The role of international financial institutions in shaping African development: a case study of Nigeria's engagement with the IMF and world bank

This article explores the critical role that International Financial Institutions (IFIs), specifically the International Monetary Fund (IMF) and the World Bank, have played in shaping Nigeria's development. Using Nigeria as a case study, the research investigates the impact of IMF and World Bank interventions on the country's economic policies, particularly through structural adjustment programs (SAPs) and development projects. The analysis includes a review of Nigeria’s economic challenges, beginning with its post-independence era, the introduction of SAPs in the 1980s, and the ongoing consequences of these reforms on economic stability, poverty reduction, and public services. The study also addresses the political and social responses to IFI-driven policies and evaluates both the successes and shortcomings of these interventions. Furthermore, the article highlights the lessons that other African nations can draw from Nigeria’s experience with IFIs, particularly in negotiating terms and managing long-term development goals. The future of Nigeria’s relationship with the IMF and World Bank is examined, with a focus on exploring alternative development partnerships and achieving greater economic independence.

Oil price shocks and human capital channels in Nigeria

Nigeria faces persistent challenges of high unemployment and poverty, worsened by its over-reliance on the oil sector. While many studies have investigated the relationship between oil price volatility and human capital development, few have examined how this relationship impacts both basic and advanced human capital channels in developing economies; this study addresses that gap by using a Structural Vector Auto Regression (SVAR) approach to investigate how oil price shocks influence human capital channels. Co-integration tests reveal significant long-term relationships among the variables. For the basic channel, oil price shocks are negatively associated with secondary school enrollment but positively linked to primary school enrollment. In the advanced channel, oil price has a positive effect on government expenditure on tertiary education but negatively affects tertiary institution enrollment. The impulse response function confirms that oil price fluctuations significantly affect both basic and advanced channels of human capital. The findings show the detrimental impact of oil price shocks on Nigeria's human capital development, which may negatively affect sustainable development. The study emphasises the urgent need for economic diversification to reduce the economy's vulnerability to oil shocks and promote long-term growth and human capital development.

A model for standardizing Nigerian SMEs: Enhancing competitiveness through quality control

Small and Medium Enterprises (SMEs) play a critical role in Nigeria's economic development, contributing significantly to employment, innovation, and gross domestic product (GDP). However, Nigerian SMEs face persistent challenges that hinder their growth and global competitiveness, particularly a lack of standardisation and inadequate quality control. This review proposes a comprehensive model for standardizing Nigerian SMEs, focusing on enhancing competitiveness through robust quality control mechanisms. The model is built on four key components: the development of a sector-specific quality control framework, government and institutional support, technology integration, and collaboration within SME clusters. By implementing industry-specific standards and providing training programs, SMEs can align their products and services with global benchmarks, increasing their potential for international market penetration. The model emphasizes the need for government incentives and regulatory bodies to foster adoption while encouraging the use of digital tools to monitor quality in real-time. Additionally, public-private partnerships are recommended to drive technology transfer, making quality control more affordable and accessible. The proposed model also promotes collaboration among SMEs through networking and knowledge sharing, enabling small businesses to adopt best practices collectively. Pilot programs in sectors such as agriculture and manufacturing are suggested to assess the feasibility and effectiveness of the model. This review argues that adopting this standardized quality control model will significantly enhance the competitiveness of Nigerian SMEs, reducing barriers to growth, and facilitating economic development. The success of this initiative relies on coordinated efforts from government, industry associations, and SMEs themselves. Keywords: Nigerian SMEs, Competitiveness, Quality control, Economic Development.

An Evaluation Of The Treasury Single Account (TSA) As An Instrument Of Financial Prudence and Management In Nigeria: Methodology Analysis (OAGF) 2015-2024.

This paper examines the Office of the Accountant General of the Federation and the relationship between the Nigerian economy and the Treasury Single Account Policy (2015-2024). The Nigerian economy has developed slowly over the years, which has led to little to no improvement in the country's residents' standard of living. The study's overall goal was to determine how the Treasury Single Account Policy affected Nigeria's economic developments between 2015 and 2024. Its specific goals were to determine whether the human development index, Gini coefficient, and poverty rate of the country's economy differed significantly between the pre-and post-implementation periods. The research utilized the design of the quantitative study. Nigerian citizens make up the study's population, while the citizens of Nigeria for the years 2015–2024 make up the sample size. The study employed secondary data that came from the World Bank's National Accounts Data, the National Bureau of Statistics, and the Central Bank of Nigeria's Statistical Bulletin. The paired sample t-test was used to assess the data. The outcome showed that, except the variable of human development index, which showed a significant difference between the periods before and after the implementation of the treasury single account policy, economic development indicators (gini coefficient and poverty rate) did not differ significantly between the periods before and after the policy. Consequently, the analysis found that the Treasury Single Using the poverty rate and Gini coefficient as stand-ins for economic development, account policy had no discernible effect on the Nigerian economy. Additionally, it was determined that the Treasury Single Account Policy had a major influence on Nigeria's economic development using the Human Development Index as a proxy for economic progress. Therefore, it was advised that government programs for human development be maintained and improved, particularly in the fields of health and education.

The Role of the Igbo Apprenticeship System in Entrepreneurship Development in Nigeria

The growth of entrepreneurship is vital for Nigeria's economic development, with Small and Medium-scale Enterprises (SMEs) playing a key role. This study examines the impact of the Igbo Apprenticeship System on entrepreneurship development and youth employment in Nigeria. Through semi-structured interviews with 50 Igbo business owners at Dugbe market in Ibadan, Oyo State, a significant market in South-Western Nigeria, the research highlights the system's role in establishing small businesses and imparting entrepreneurial skills to apprentices. The study confirms that the apprenticeship system is well-established within the community, with all respondents familiar with it. It highlights the system's critical role in entrepreneurship development in Nigeria, noting that 98% of respondents have participated in the system, and over 60% have sustained their businesses for more than ten years. The system also positively impacts youth employment by providing young people with the skills necessary to start and run their own businesses. However, it shows limited success in empowering females, and challenges such as financial settlement issues and a hostile work environment persist. The study recommends restructuring the system to shift from an individualistic focus to one that promotes teamwork, collaboration, and mutual support, with a particular emphasis on enhancing inclusivity for women.

Nigeria's Relations with the European Union: An Analysis of the Economic Partnership Agreement

The Economic Partnership Agreement (EPA) between Nigeria and the European Union (EU) aims to enhance economic cooperation and trade liberalization. However, it has sparked significant debate due to its potential implications for Nigeria's economic development and sovereignty. This paper critically analyzes the EPA, focusing on the key issues, challenges, and implications for Nigeria. The core concern is whether the EPA's benefits, such as increased market access and development aid, outweigh the drawbacks, including potential revenue loss, unfair competition, and stringent EU standards that could disadvantage Nigerian industries. The analysis employs a qualitative approach, reviewing existing literature, policy documents, and expert opinions to assess the economic, social, and political impacts of the EPA on Nigeria. This includes a comparative analysis of similar agreements between the EU and other African countries to draw relevant parallels and insights. The findings reveal that while the EPA offers opportunities for market access and development aid, it also poses significant risks to Nigeria's economic stability and sovereignty. The paper concludes that Nigeria must carefully weigh these factors, considering its economic priorities and readiness to meet the agreement's requirements. Future relations between the EU and Nigeria will depend on managing these challenges and opportunities, ensuring the partnership promotes mutual growth without compromising Nigeria's autonomy.

Critical Evaluation of the Effect of Outsourcing on Nigeria's Workforce Development: A Content Analysis

This study critically examines the effect of outsourcing on workforce development in Nigeria using a content analysis approach. The research is framed within systems theory, which views Nigeria's workforce development as a complex system influenced by various interconnected components, including outsourcing, economic conditions, education and training, government policies, labor market dynamics, and organizational strategies. The empirical review explores the effects of outsourcing on organizational performance, employee commitment, and competitive advantage in Nigeria. Key findings indicate that outsourcing can lead to cost savings, improved efficiency, and access to specialized expertise, contributing positively to organizational performance. However, significant negative impacts are also identified, including underpayment, job insecurity, violation of workers' rights, diminished employee commitment, and adverse effects on the local economy. Despite the potential benefits of outsourcing, such as cost reduction and technological advancements, the study underscores the need to balance these benefits against the negative impacts on workers. Recommendations include enforcing labor laws to ensure fair compensation, providing equal treatment for core and contract staff, empowering outsourced workers through unionization, enhancing anti-discrimination protections, fostering emotional attachment and commitment among workers, and promoting local job creation to mitigate the adverse effects of outsourcing on the local economy.

An Extensive Examination of Taxation as an Accelerator for Economic Growth in Nigeria

This study looks at how taxes affect Nigeria's economic development. A time series dataset from 1996 to 2021 was estimated using a short run Autoregressive Distributed Lag [ARDL(2,1,0,0,0)]. The dataset was collected from FIRS. The impacts of Value Added Tax (VAT), Company Income Tax (CIT), Personal Income Tax (PIT), and Petroleum Profit Tax (PPT) on Nigeria's Gross Domestic Product were particularly examined in this study. The findings showed that while personal income tax and value added tax have a short-term negative impact on economic growth, corporation income had a considerable beneficial impact on Nigeria's economic expansion. In addition, petroleum profit tax has positive but insignificant effect on economic growth in the long run. Therefore, striking the right balance between tax rates, economic incentives and compliance is crucial. The Laffer curve theory provides valuable insights into finding the optimal tax rate that maximizes revenue. This can be done balancing the incentives for economic activity against the burden of taxation, finding the optimal rate varies depending on various economic factors and the taxpayer behaviour. The study suggests that offering targeted tax incentive for investments, innovation, and entrepreneurship. These incentives can include tax breaks for specific sectors, research and development activities, and job creation initiatives.

Assessing desertification vulnerability and mitigation strategies in northern Nigeria: A comprehensive approach

Desertification constitutes a grave threat to the environmental and socio-economic stability of desertification frontline states in Northern Nigeria. From 2003 to 2020, this research comprehensively analyzes desertification vulnerability, integrating parameters such as NDVI, LST, TVDI, MSAVI, and Albedo. Key factors contributing to land degradation are identified, along with the spatial patterns and trends of desertification over the two-decade period. The consequences are profound, with Northern Nigeria's ecosystem experiencing a steady decline in vegetation cover. Agriculture, vital to the region's economy, faces increased aridity and reduced arable land, jeopardizing food security. Diminishing water resources exacerbates scarcity issues, placing additional strain on communities. These environmental changes lead to severe socio-economic implications, including displacement, loss of livelihoods, and heightened vulnerability to climate-related risks. Urgent, comprehensive, and strategic interventions are imperative. Policy recommendations underscore revising and enforcing land use regulations, promoting sustainable agricultural practices, and establishing monitoring systems to guide decision-making. This research contributes practical strategies to enhance the resilience of desertification frontline states, safeguard livelihoods, and align with Nigeria's sustainable development objectives. Findings from the study indicate that only a tiny percentage (6.7 %) of the study area remains unaffected by desertification. Moreover, 13.3 % exhibit light vulnerability, 20 % demonstrate moderate exposure, and 60 % fall into the severe (26.7 %) and compelling (33.3 %) vulnerability categories. These statistics underscore the gravity of desertification in the study area, emphasizing the urgent need for effective mitigation measures to address its impact comprehensively.

Rethinking Nigeria’s Development: The Transformative Power of Ethics, Education and Religion

The concept of development has been intertwined with human existence since ancient times. The study delved into the contemporary development landscape of Nigeria, analysing it from a comprehensive perspective that encompasses ethics, education, and religion. The study was initiated by a profound scientific inquiry in order to explore the intricate interplay between ethics, education, and religion in the growth and development of Nigeria. In addition, data collected from secondary sources such as text, journals, and the internet were analysed using exposition and content analysis methods. The concepts of education, development, and development ethics were further elucidated. The study highlighted Nigeria's on-going struggle to achieve developed status, citing the prevalence of immoral acts like corruption. It also emphasised the undeniable influence of religion on various aspects of Nigeria's development, such as education, social amenities, science and technology, language, peace as well as reconciliation. The study also revealed that the Nigerian government's insufficient investment in the education sector has resulted in a scarcity of experts in various fields, hindering the nation's progress. As a result, the study recommended that the government increase funding for education and that educational institution incorporate ethics into their curricula.

Fake News and Hate Speech in Nigeria's Development and Security Trajectory: A Qualitative Assessment

Fake News and Hate Speech in Nigeria's Development and Security Trajectory: A Qualitative Assessment

Economic and social costs of flood disasters in Nigeria: Implications for sustainable national development

Nigeria is susceptible to flood disasters, resulting in significant economic and social costs due to natural and human factors. This paper examines the implications of flood disasters on Nigeria's sustainable national development by identifying drivers, estimating costs, analyzing social dimensions, and discussing policy options. The methodology this paper adopted relied on a range of secondary sources such as government reports, academic studies, and media sources which were analyzed through qualitative methods of content and thematic analysis. The study revealed that flood disasters caused economic losses, including damage to infrastructure, loss of income, and reduced agricultural production, disproportionately affecting vulnerable populations. Effective disaster risk management requires an integrated approach, including investments in flood risk infrastructure, coordination among government levels, and engaging local communities to build disaster reduction capacity. The paper highlights the need for Nigeria to mainstream disaster risk reduction into national development planning for sustainable development.

Public Perception of African Independent Television “Democracy Today” Programme on the Promotion of Nigeria’s Democracy

The significance of television as a mobilisation medium is widely acknowledged on a global scale. African Independent Television's (AIT) "Democracy Today" programme holds a prominent position as a political, social, and economic show and is considered one of the flagship programs on Nigerian television. This study aims to explore the public perception of AIT's "Democracy Today" programme in its role in promoting Nigeria's democracy. Drawing on media dependency theory, agenda setting theory, and the psychological theory of perception, the research used a survey research design, employing an availability sampling technique to distribute 400 questionnaires among residents of the Federal Capital Territory, Abuja, Nigeria. The findings revealed that participants were familiar with and exposed to the "Democracy Today" programme, and data indicated that they believed the programme had a positive impact on Nigeria's democratic development. Moreover, the study found that a majority of participants comprehended the content aired on the "Democracy Today" programme. The research in conclusion posits that the opinions of Abuja residents regarding the development of the country's democracy have been significantly influenced by AIT's "Democracy Today" programme. The study recommends the initiation of more programmes similar to "Democracy Today" by broadcast stations in Nigeria, emphasising the potential for broadening Nigerians' knowledge about the country's democratic journey.

Impact of The Legal Environment On Nigeria’s National Economic Development

This study examined the impact of legal environment on Nigeria's national economic development. The Environment plays significant role in the development of the economic advancement of any nation, as the natural resources like fossil fuels and minerals bring about the production of goods and services. A healthy environment provides necessities like clear water, good food and clean air; and provides ways to fight natural hazards. Thus, laws have been put in place to protect our general safety, ensure our rights as individuals are not threatened by our environments, organizations or by the government itself. Enforcing these laws, rules and regulations is good for growth and economic development. The study embraced a doctrinal approach making use of laws, legislations and related literature. It was found out despite environmental laws and assessment in place to enhance economic growth, the Nigerian environment is not there yet there as there exist absence of a safe and conducive environment which can bring about economic growth and development. It was also found out that despite the myriad of laws and legislations that are meant to safeguarding the environment, there had been little or no significant economic growth as a result of ineffective prosecution of environmental offenders, constant pollution, exorbitant cost of pollution control equipment and gas flaring amongst others. The study concludes by proffering recommendations, which if adhered to would advance economic growth and development.

Level of Economic Development and National Policies in Mexico and Nigeria (1970-2018): A Comparative Analysis of Growth and Institutions

The research compares Mexico and Nigeria's growth and development disparities using Sen and Collier's frameworks by examining various factors. It aims to propose policies on interest rates, FDI, external debt, government spending on health, education, and welfare. Results highlight positive impacts on Mexico's GNI from external debt, government spending, and FDI, and in Nigeria, all variables except interest rates positively affect GNI. Key recommendations include reducing Nigeria's debt by investing in bonds, using domestic debts and for both countries; enhancing welfare through Progresa, transparency in expenditure using online reporting, and infrastructure; boosting income and employment in Mexico with knowledge transfer, innovation, and transport improvements; and addressing violence by alleviating poverty through proposed subsidy programs and anti-corruption measures.

The Political Economy of Contemporary Insecurity in Nigeria: Theoretical Issues and Explanations

This paper examined the nature of contemporary insecurity in Nigeria. The paper adopts a qualitative methodology, and the data were gathered using documentary sources. It anchors on political economy approach using game theoretic modeling as theoretical framework. The paper argued that Nigerian state is currently facing internal security threats from separatist demands and ethnic militias to terrorism, cattle rustling, kidnapping for ransom, armed banditry, and armed robbery among others. It further stressed that Nigeria's frighteningly high level of insecurity makes its citizens live in constant fear. That Nigeria's socio-economic development has been badly impacted by this insecurity, which also has an influence on the credibility of Nigeria's international image. In order to address Nigeria's worries about insecurity, this paper concluded with policy recommendations, primarily for the National Assembly that corrupt practices must be addressed in order to restore peace in Nigeria. Also, to facilitate effective governance, which is necessary for upholding peace and stability in the country, the National Assembly must use the power of the legislative power derived from the constitution to improve responsiveness, transparency and accountability.

Impact of Exchange Rate on Economic Growth: Evidence from Nigeria

The effect of the exchange rate on GDP growth in Nigeria from 1985–2021, according to this analysis. The World Bank's World Development Indicator (WDI) and the Central Bank of Nigeria's (CBN) Statistical Bulletin were used as secondary sources of data. The real exchange rate served as a stand-in for the actual exchange rate, while real gross domestic product was used to gauge economic growth. We used the Augmented Dickey-Fuller unit root test to find out how integrated the series was. The bound test was used to test for cointegration. The bound test found that the exchange rate and economic growth are related in the long term. This research used the autoregressive distributed lag technique to estimate the short- and long-term effects of the exchange rate on GDP growth. The ARDL analysis shows that there is a weak negative correlation between the exchange rate and GDP growth. According to the research, trade openness has a small but favorable effect on GDP growth. Furthermore, the research indicated that foreign exchange reserves significantly and positively impacted economic development. There was also a negative and statistically significant relationship between interest rates and GDP growth. The analysis found that the exchange rate did not have a significant role in determining Nigeria's economic development. Given the importance of a stable and predictable exchange rate in boosting economic development, the research suggests that monetary authorities implement a policy primarily aimed at stabilizing exchange rates.