Development In Nigeria Research Articles

MICROFINANCE BANKS ACTIVITIES AND ECONOMIC DEVELOPMENT OF NIGERIA

This study investigated the effect of microfinance banks on economic development of Nigeria from (1992-2021) using secondary data from Statistical bulletin of Central Bank of Nigeria and United Nations Development Programme (UNDP) annual report. The research work used the fully modified ordinary least square (FMOLS) regression analysis to test the effect between the independent variables (Microfinance Banks Loans and Credit, Investments and Deposits, Government Expenditure on Education and health) on the dependent variable (human development index). The study discovered that microfinance bank activities had a significant effect on Nigeria's human development index during the study period. Therefore, the study recommends that, microfinance banks should direct their loans to the productive sector in order to create more jobs and improve Nigeria's economic development. In addition, microfinance institutions should assist those who do not have access to traditional banking services in gaining access to their credit facilities. Microfinance institutions should incorporate training and capacity-building programs into their services. They should also contribute to women's empowerment, which will increase women's access to education and health care.

The role of special economic zones (SEZs) in achieving sustainable development in Nigeria

The development and implementation of Special Economic Zones (SEZs) has become one of the main directions of investment policies to many economies. The creation of SEZs is aimed at attracting foreign investment and boosting the entry of their manufacturers into the world market. This paper assesses the impact of SEZ programs on the sustainable development in Nigeria and define how SEZs contribute to employment and exports in selected sub-Saharan African countries. Furthermore, the effectiveness of certain types of financing in the main sectors and the level of their impact on sustainable development in Nigeria was analyzed. It was revealed that the mining sector financing methods do not seem to support or deliver on Nigeria's development goals, making it completely ineffective given the issues identified as well as the sector's contribution to improving the country's socio-economic performance. In other words, Nigeria should create various mechanisms and models for financing its manufacturing and agro-industrial complex through the creation of SEZs, as well as create the necessary preferential regimes in these sectors that can attract and direct huge investments in the manufacturing agricultural industries of these sectors. The authors developed a model for the relationship of investment with these indicators in African countries. A model was used to determine the degree to which job growth (p) and exports (e) are dependent on investment in special economic zones (SEZs). They conclude that the investment in SEZs is positively associated with job growth and exports.

Enhancing Entrepreneurial Skills in Foods and Nutrition through Creativity and Critical Thinking among Tertiary Institution Students in Lagos State, Nigeria

The research focused on how university students in Lagos State may improve their entrepreneurship abilities through creativity and critical thinking. Survey research design was used. The study's population was 114, which included 14 Home Economics teachers teaching Food and Nutrition courses, 40 Senior Staff of Nigeria's Small and Medium Enterprise Development Agency, and 60 Home Economics students. There was no sampling since the population was small. For data gathering, a questionnaire was employed. The data were examined using mean and standard deviation. Findings revealed that in-service training for lecturers, proper integration of practical with theory in teaching foods and nutrition, and curriculum review in foods and nutrition programs to instil entrepreneurial skills that will meet the needs of students, among others. The difficulties in acquiring entrepreneurial skills via creative and critical learning included the fact that most higher institutions do not have foods and nutrition laboratories, and there are few vocational foods and nutrition specialists. Findings also revealed that arousing attention and retention among university students by presenting learning objectives through qualified lecturers, facilitating students' awareness of the expected learning outcomes, and providing learners feedback on exercises and activities carried out in the food laboratories are ways of reducing challenges to enhancing entrepreneurial skills through creativity and critical thinking. The recommendation includes that there should be regular training and re-training programs for Food and Nutrition teachers in the form of seminars and workshops.

FINANCIAL GLOBALIZATION, ECONOMIC GROWTH AND SUSTAINABLE DEVELOPMENT IN EMERGING ECONOMY

This research analysed the impact of globalisation on Nigeria's economic growth and sustainable development. Financial globalisation has paved the opportunity for corporations and governments to get access to competitive sources of foreign funds. Rather than depending on investors in the domestic financial markets corporate entities and governments can take advantage of international investors in the global financial markets for essential money. The research utilised time series data. Data pertaining to economic growth and development were analysed utilising pertinent statistical data analysis methodologies. According to the research completed, it can be stated that financial globalisation influences economic growth and sustainable development in Nigeria. Due to access to external sources of capital, the study concluded that stringent regulation and strong policies on the part of regulators are required to sustain the benefits of financial globalisation.

Effects of renewable energy consumption and financial development: Using Nigeria’s economy as a case study

• Nigeria's financial development and the long-term and short-term influence of energy use were assessed. • Auto regressive distribution lag model was used to know the long-term effect of energy demand on the Nigerian economy. • Energy use coefficient is positive and inconsequential in the short run. • CUSUM Test is used as the residual model. Nigeria's financial development and the long-term and short-term influence of energy use on the country's economy were both assessed in the study. The findings of previous studies contradict the theoretical assumptions and predictions from this study which states that emerging and developing economies, according to which financial progress does not lead to increased renewable energy consumption. Using the Auto regressive distribution lag (ARDL) co-integration process and a survey that spanned 60 years from the World Development Indicators in the World Bank database, the ARDL co-integration indicated that financial sector intermediation had a significant positive and long-term effect on energy demand in the Nigerian economy and this also was used to organize the data. Nigeria has a long-term link between the financial sector and renewable energy consumption, which over the past 60 years has shown little or no investment in renewable energy. This study also determined that despite the short-term effect, the rise of the financial industry has a positive impact on the Nigerian economy because of the high level of energy consumption. Policies that focus on increasing the financial sector's size have significant and far-reaching consequences for Nigeria's energy use. Furthermore, it was discovered that the country's energy demand expanded for over 60 years, leading to the increasing energy demand, and epileptic power failure in the country. Finally, this research seeks to bolster renewable energy investment through informed and deliberate policies

A critical review of oil spills in the Niger Delta aquatic environment: causes, impacts, and bioremediation assessment.

The Niger Delta region in South-South Nigeria, on Africa's West Coast, is densely populated. The region, which contains a substantial stock of crude oil and natural gas, has been nicknamed "the engine room" for Nigeria's economic development and progress. It is responsible for up to 90% of the country's economic growth (or gross domestic product/GDP). The region has multiple ecosystems, such as the aquatic environment, that are critical to the survival of the area's various habitats and living species. However, the same region has witnessed unjustifiable environmental pollution arising from oil activities over the years of exploration and production which has orchestrated negative consequences on the Niger Delta ecosystem. This has led to extended negative consequences on natural resources, which also have detrimental repercussions psychologically, ecologically, socially, economically, and physically which, in turn, impacts the overall health of the affected individuals. This write-up provides an overview of the major drivers of the oil leakage in Nigeria's Niger Delta ecosystem as well as the major impacts on the environment. It will also analyze numerous means of remediation in use and extend such for a more inclusive and productive option. Moreover, this review offers key measures that may help to maintain long-term policies for reducing adverse implications and increasing the living standard for the Niger Delta area's affected communities.

COVID-19 and the state of mental health challenges among Women, Girls and Children: the case of Nigeria

Health is a resource for daily existence and wellbeing. Mental, social, emotional, spiritual, psychological and physical health constitute an overall essence of that well-being. The COVID-19 epidemic has had a profoundly negative impact on women, children, and society as a whole by causing unfathomable loss, grief, pain, and solitude. The pandemic has pushed many families into poverty and exacerbated conditions of inequality with women and children exposed to violence and other deprivation which deeply impacted on their mental health. The study employed the use of content analysis of secondary sources of data, and the social stress, social model and general strain theories constituting the theoretical framework for examining the subject under investigation. The findings of the study demonstrated that the prevalence of mental disorders among women and children is rising, with serious human rights and socio-economic repercussions as a result of poverty and gender inequality. Furthermore, the majority of those suffering from mental health issues are unable to get the crucial medical and social care they need. The study's recommendation emphasized the need to address issues of poverty, inequality, and gender inequality as well as make sure that Nigeria's national and sustainable development policies and programmes must address the serious mental health problems that women and children currently face as well as those that will arise after the post-Covid-19 era.

Working with local governments to increase access to WASH services: a case of WaterAid's participatory approaches in Nigeria

Abstract Attempts to implement participatory processes are often complicated by realities which make objectives of participation unattainable. Hence, if participation is to mean more than good intentions, it is vital to understand the strategies deployed by international nongovernmental organisations (INGOs) in participatory development. This study employed a qualitative case-study approach to evaluate the participatory processes employed in two WASH projects implemented by WaterAid Nigeria attempting work with Local Government Areas: the Sustainable Total Sanitation project and the HSBC Water programme. WaterAid Nigeria's participatory development approach recognises the responsibility of the various tiers of government for its citizens' wellbeing, especially the need for partnership with the Local Government Area (LGA) towards the delivery of WASH services. The state, as the ‘duty bearer’, is responsible for the provision of WASH services. Thus, both projects centred on government capacity building and community empowerment through the establishment and capacity development of WASH units in LGAs, insistence on counterpart funding and the establishment of water, sanitation and hygiene committees (WASHCOMs). Despite these attempts, findings highlighted the persistence of inefficiencies within the LGA WASH system that rendered partnerships ineffective. At the community level, WASHCOMs were not sustainable. Despite the challenges of implementing partnerships between INGOs and LGAs, such partnership remains a way to improve the provision of WASH services in Nigeria and other low- and middle-income countries. To better work within the participatory model, WASH INGOs should explore how to better use existing LGA arrangements for service delivery. Additionally, the LGA, as a duty bearer, could foster genuine, non-discriminatory spaces for the participation of communities by taking political, socio-economic and cultural differences into account.

ASSESSING CRITICAL FACTORS AFFECTING THE DEVELOPMENT OF A NATIONAL MAINTENANCE POLICY

A national maintenance policy is a maintenance strategy that outlines the rules for triggering maintenance actions for buildings and other structures within a country. This study assessed critical factors affecting the development of a national maintenance policy in Nigeria. Through a Delphi survey, the required data for this study was obtained. The Delphi findings indicate twelve (12) factors affecting the development of a national maintenance policy in Nigeria. Among these twelve (12) factors, five (5) had a very high impact (VHI: 9.00-10.00) on the factors affecting the development of a maintenance policy/law in Nigeria, while three (3) of the factors had a high impact (HI: 7.00-8.99) and four (4) other factors scored a medium impact (MI: 5.00-6.99). The study's key finding indicates that the critical factors affecting Nigeria's development of a national maintenance policy were corruption and corrupt practices, lack of clear national maintenance vision, lack of continuity in governance, lack of accurate data of buildings stocks, and inadequate legislation on infrastructure. The study suggested a need for independent authority established by law responsible for implementing maintenance policies or laws. The study concluded that there should be a standalone national maintenance policy or law that will holistically address maintenance-related issues in the country.

Economic consequences of rapid population growth in Nigeria

Nigeria is currently the world's sixth most populous country. However, empirical research on the impact of this growing population on economic growth is divided. This study adds to existing research on the economic effects of Nigeria's rapid population growth. This study used a qualitative research design because it relied on secondary data gathered from books, journal papers, and online sources. Its content was examined in light of the objectives of the study, and Malthusian theory serves as the study's foundation. The majority of Nigeria's development issues, according to the study's findings, can be directly or indirectly linked to the country's rapid population growth. This study thus urges, among other things, the need for an all-encompassing mechanism that will address issues of conflict and insecurity, migration and displacement, access to education for girls, and proper regulation of infrastructure development, as well as the undiluted conservative ideology whereby many, especially in Nigeria, see population growth as the key to control of political power and resources that should be thrown away in favor of a more effective and functional system.

ASSESSING CRITICAL FACTORS AFFECTING THE DEVELOPMENT OF A NATIONAL MAINTENANCE POLICY

A national maintenance policy is a maintenance strategy that outlines the rules for triggering maintenance actions for buildings and other structures within a country. This study assessed critical factors affecting the development of a national maintenance policy in Nigeria. Through a Delphi survey, the required data for this study was obtained. The Delphi findings indicate twelve (12) factors affecting the development of a national maintenance policy in Nigeria. Among these twelve (12) factors, five (5) had a very high impact (VHI: 9.00-10.00) on the factors affecting the development of a maintenance policy/law in Nigeria, while three (3) of the factors had a high impact (HI: 7.00-8.99) and four (4) other factors scored a medium impact (MI: 5.00-6.99). The study's key finding indicates that the critical factors affecting Nigeria's development of a national maintenance policy were corruption and corrupt practices, lack of clear national maintenance vision, lack of continuity in governance, lack of accurate data of buildings stocks, and inadequate legislation on infrastructure. The study suggested a need for independent authority established by law responsible for implementing maintenance policies or laws. The study concluded that there should be a standalone national maintenance policy or law that will holistically address maintenance-related issues in the country.

Social services provision and stakeholder engagement in the Nigerian informal sector: A systemic concept for transformation and business sustainability

AbstractThe informal business sector has made enormous contributions to Nigeria's economic growth and development, but this sector is not given the necessary attention to transforming these businesses toward sustainability. This study explores the depth of informal business sector practices in Nigeria. It underscores the inputs of stakeholders in the transformation of businesses in the Nigerian informal sector to increase tax remittances and employment generation for job security in the Nigerian economy. Also, it underpins value chain performances to transform the informal sector and rescue it from liquidation through voluntary company arrangements, administration, merger, takeover, and acquisition schemes. The study adopts a conceptual review. The research relies on extant literature relating to the antecedence of informal business sector activities in Nigeria. It relies on reports from tertiary data sources such as academic articles, books, newspapers, the Internet, and website sources. It further explores the views of researchers, covering the informal sector development and the support of the provisions of the social services in Nigeria. There is the absence of a model for the transformation and sustainability of the informal sector enterprises in Nigeria. This study recommends a model approach to address informal sector enterprises' issues and challenges necessary to transform the businesses into a formal status while supporting their sustainability and resilience.

“Lumps of exasperation”: Editorial coverage of 60th anniversary of Nigeria's independence

AbstractThis study examined how selected Nigerian newspaper editorials covered the commemoration of its 60th independence anniversary. Frame theory provided the theoretical lens with which to make sense of the data. Drawing from van Dijk's (1992) model of editorial analysis, which focuses on Definition, Evaluation and Recommendation, this research investigated how Nigeria's journey as an independent nation in the last 60 years was framed in the editorials. The study found that there were divergent views as to whether there was a reason to celebrate or not. Defective structure, insecurity and poor leadership emerged as major problems to Nigeria's development. Consequently, these editorials framed restructuring, provision of security and rejigging of the recruitment process for political officeholders as solutions to the identified problems. The study indicated that these papers glossed over Nigerian Civil War experience, thus denying the younger generation the lessons of this important historical event.

Information Managers as Change Agents in achieving Sustainable Development in the 21st Century

The purpose of this paper is to examine the role of information managers and libraries in accomplishing Nigeria's sustainable development goals in the 21st Century. The paper explored the notion of sustainable development, examines the 17 Sustainable Development Goals (SDGs) including their respective targets. It identifies and discusses the role of libraries and information managers (librarians) in achieving SDGs, as well as the philosophy of information theory of communication as proposed by Claude Shannon (1948). Libraries all over the world offer a variety of products and services that support the accomplishment of all 17 SDGs. Libraries are secure, friendly spaces at the heart of communities, fostering reading and providing free access to information. Libraries are vital instruments in society, and they play a critical role in accomplishing long-term development goals. Citizens must be well informed if Nigeria's sustainable development goals are to be met and sustained. This can be accomplished by selecting, processing, organizing, and disseminating information based on the parameter of development as indicated in the Sustainable Development Goals (SDGs), and organizing training programs or forums where issues such education, environmental, climate change, gender inequality and health issues can be discussed, and so on.

Unravelling the encumbrances in procurement management of Nigeria's infrastructure development: pitfalls and prospects of projects

PurposeProcurement management in infrastructure development has gained considerable attention in developing countries. It is because of the success in the developed nations. Studies have shown that Nigeria's infrastructure development needs far exceed its current provision. Also, studies are scarce to reveal whether procurement management has been successful in infrastructure development projects in Nigeria. Therefore, this paper investigated the root cause of the perceived encumbrances impeding procurement management in infrastructure development projects and proffered policy measures to improve future Nigeria's infrastructure development.Design/methodology/approachData were collected via unexplored exploratory virtual interviews and selected cases from secondary sources. The engaged construction and engineering consultants have been involved in the procurement management of infrastructure projects in Nigeria. Thematic analysis was adopted to analyse the collected data.FindingsThe root causes of the pitfalls that emerged from the study include lack of competition and transparency, embezzlement and mismanagement of public funds, snail speed bureaucracy and bottleneck and lack of skills and knowledge. Others are collusion/bid-rigging/price-fixing/cartel formation, corruption, lack of professionalism, unbridled politicking, embezzlement and mismanagement of public funds, incompetence of tender boards, lack of patriotism to national service and lack of government organisations’ procurement capacity.Research limitations/implicationsThis paper is restricted to unravelling the encumbrances in procurement management of Nigeria's infrastructure development projects. Future research is desirable to adopt a quantitative approach for more extensive coverage and validate findings from this paper.Practical implicationsThe paper findings, including those learnt from each case study evaluated, would undoubtedly influence policymakers and construction and engineering practitioners on the key strategies to employ in implementing future procurement management in Nigeria's infrastructure development projects.Originality/valueThis paper would assist policymakers and other stakeholders desirous of improved infrastructure to focus their priorities in mitigating the identified root cause hindering procurement management in Nigeria's infrastructure management.

Oral literature and national development

Immoral behaviours like corruption, indiscipline among others have been identified as some of the major obstacles of Nigeria's development since the nation got her independence in 1960. However, the fact that oral literature played important roles in the pre- colonial Nigeria's society cannot be easily disputed. It has served then not only as a means of entertainment, but also as a viable tool for promoting social consciousness. It is based on this backdrop that the paper intends to evaluate the potential of oral literature in controlling the avalanches of immoral and burning social issues such as corruption, cybercrime, kidnapping and many others that have been confronting the development of the country. The paper therefore, uses descriptive research methodology to examine the aforementioned issues. The result reveals that oral literature can be used to address the contemporary Nigerian social problems. Among other recommendations, the paper recommends that oral literature should be given serious attention and should be seen as one of the feasible approaches that can be employed to enhance moral values among Nigerians for sustainable national development.

Governance failure and youth unemployment levels in Nigeria

The Nigerian government has shied away from serving the youth's interests. At both the national and municipal levels, the powerful government officials who built vast patronage networks during the military era now use their political office to expand these networks and their fortunes dominate Nigerian politics. Nigeria's economic development and progress have suffered as a result of this. Nigeria's democratic consolidation efforts are hampered by persistent poverty, which is compounded by youth unemployment. A nation comprised of parasites, bandits, and beggars is doomed to fail. The youth's unemployment is related to an increase in sectarian criminality, terrorism, and violence. In addition, Nigeria's high youth unemployment level contributes to a high level of state insecurity, which leads to robberies, abductions, tribal tensions, arbitrary arrests, ethnoreligious conflicts, and other illicit activities in Nigeria. This article examines the relationship between governance failure and the youth unemployment level in Nigeria.

EFFECTS OF SELECTED MACROECONOMIC VARIABLES ON STOCK MARKET PERFORMANCE IN NIGERIA

In spite of the vital role played by the stock exchange market in the overall national development, it is still performing below expectations in Nigeria owing to several macroeconomic factors. The main objective of this study is to investigate the effects of selected macroeconomic variables on stock market performance in Nigeria. The study employed time-series data obtained from the Central Bank of Nigeria's statistical bulletin and World Development Indicators. Stock market performance was measured using the all-shares index while the identified macroeconomic variables included GDP growth, broad money supply, exchange rate, savings interest rate, and inflation rate. An Autoregressive Distributive Lag (ARDL) estimation technique was used to establish the long run relationship among the variables, and it was revealed that a long run relationship existed among the variables in the estimated model. The result shows that macroeconomic variables such as gross domestic product, broad money supply, exchange rate, and savings interest rate have a positive effect on stock market performance in Nigeria. On the other hand, the results showed that the inflation rate has a negative effect on stock market performance in Nigeria. Predicated on the result, the study recommended that policies to increase gross domestic product, exchange rate, interest rate, and money supply should be implemented because they can lead to an improvement in the performance of the stock market, while the inflation rate should be maintained at a single digit to prevent its negative effect on the performance of the stock market in Nigeria.

NEO-COLONIALISM AND THE DEVELOPMENTAL CHALLENGES OF POST-COLONIAL AFRICA

<div><p class="Els-history-head">Liberal political economists typically ascribe the reasons, natures, and dynamics of development and security in the global South, including Africa, Asia, and Latin America, to internal deficiencies. As a result, among other things, weak institutions, policy deficits, ethnicity, corruption, bad leadership, and all other signs of an entity in desperate need of salvation have been recognized as dangers to the corporate existence and survival of African and other developing countries. While the decolonization of African and other developing countries has provided impacted peoples a sense of political belonging, the historical processes required to promote these nations' economic potential have been weakened. As a result, the capacity of postcolonial states to chart their development paths and reinvent themselves has been malignly berated, denied, and frustrated by neo-colonialist aspirations, strategies, and actions, those who had grudgingly and dishonestly foisted cancerous independence on the entire continent of Africa and other Third World regions. Relying, as it should, given the qualitative nature of the study, the study assesses the implications of the neo-colonial legacies for Nigeria's development aspiration.</p></div>

Political Economy Essentialness of Local Autonomy for Nigeria's Optimal Development Beyond COVID-19: Sacrosanctity of the Bottom-up Approach

Political Economy Essentialness of Local Autonomy for Nigeria's Optimal Development Beyond COVID-19: Sacrosanctity of the Bottom-up Approach