Sustainable Economic Development In Nigeria Research Articles

IMPACT OF NON-OIL FOREIGN TRADE ON ECONOMIC GROWTH IN NIGERIA

This study probed the impact of non-oil foreign trade on economic growth of Nigeria within the period 1986 to 2018.The specific objectives of this research are to examine the impact of non-oil import on economic growth of Nigeria and the impact of non-oil export on economic growth in Nigeria. The study adopted the ex post facto research design. The data were sourced from Central Bank of Nigeria’s Statistical Bulletin. The study employed the Vector Error Correction Model (VECM) to investigate and analyze the long-run and short-run impact of non-oil foreign trade, proxy by non-oil export and non-oil import; on economic growth, proxy by gross domestic product (GDP). Findings revealed that in the long-run, increase in non-oil export and non-oil import will lead to decrease in the GDP. However, the VECM results indicate that, in the short-run, increase in non-oil import will lead to increase in the GDP, while increase in non-oil export in the short- run will lead to decrease in GDP. From the findings, this study concludes that non-oil import trade has a positive impact on GDP while non-oil export has a negative impact on GDP in Nigeria. This study recommends that Nigeria’s non-oil export should be heavily invested in non-oil high-earning productive sectors such as agriculture and mining. This will create a multiplier effect and increase the productive capacity of non-oil export for sustainable economic development in Nigeria. It is also recommended that non-oil import of Nigeria’s economy should be curtailed by making policies that will encourage import-substitution and enhance economic growth in Nigeria.

Investigating the Nexus among Poverty Alleviation, Unemployment, and Economic Development in Nigeria

The purpose of this study is to investigate the existing relationship between poverty alleviation programmes, unemployment, and economic development in Nigeria. Specifically, the study employed the Autoregressive Distributed Lag (ARDL) cointegration technique and Vector Autoregression (VAR) model to estimate the existing relationship between the variables, using time series data from the Central Bank of Nigeria (CBN). The findings revealed that poverty alleviation programmes have a significant positive impact on economic development in Nigeria, while unemployment has a significant negative impact on economic development in Nigeria within the period under review. It was also revealed that poverty alleviation programmes granger causes economic development, but economic development does not granger cause poverty alleviation programmes as expected. However, unemployment and economic development granger cause each other as expected. The study, therefore, concludes that any policy aimed at addressing poverty and unemployment, if properly formulated and executed, will promote sustainable economic development in Nigeria.

ECONOMIC FRAMEWORK FOR GAS PIPELINE DEVELOPMENT IN NIGERIA

The paper present an economic model and framework for the development of natural gas pipeline for sustainable economic development in Nigeria. The study reviewed the economics of natural gas pipeline development in Nigeria. The research formulated an economic model for a case study of Calabar to Ajaokuta 417km gas pipeline project and a discounted cash flow for an economic life of 40 years. The project economics indicates a Net Present Value (NPV) of 12.5 billion USD with a discounted payback period of 7 years and 9 nine months, Profitability Index (PI) of 7.30, Internal Rate of Return of 23.05% and Growth Rate of Return 26.97% and these project economic indicator shows that the gas pipeline investment is viable. This study provides an economic model that would guarantee security of gas supply, provide access to clean energy and provides an economic framework to support long term natural gas pipeline development in Nigeria

Environmental Quality and Health Effects In Nigeria: Implications for Sustainable Economic Development

It is wide knowledge that quality of environment has great impact on people’s quality of health status. This study therefore empirically examines the relationship between environmental quality (proxied by carbon dioxide, CO2) and health effect; and its implications for achieving sustainable economic development in Nigeria. The period in focus is 1980 to 2016 and the techniques of estimation employed to address the objective of the study are Dynamic Ordinary Least Square (DOLS) and Granger causality. The major findings are summarized as follow: CO2 emissions and mortality rate are negatively but insignificantly related. However, total electric power consumption and mortality rate have a positive relationship which is significant at 5% level. This suggests an insufficiency in electricity consumption required to enhance people’s quality of life and to promote good health. Fossil fuel combustion and mortality rate have a significant positive relationship. This suggests that combustion of fossil fuel is hazardous to human welfare. Finally, government health expenditure and mortality rate are significantly and positively related implying inadequacy of public health expenditure to promote good health. Also, an existence of a unidirectional causality which runs from CO2 emission to electric power consumption is observed. CO2 emission granger causes government health expenditure. Life expectancy granger causes electric power consumption and fossil fuel consumption granger causes mortality rate. There is a unidirectional causal relationship flowing from life expectancy and mortality rate to government health expenditure. In the same vein, life expectancy granger causes mortality rate. Therefore, it is recommended that government formulates appropriate policies that will reduce mortality rate through a reduction in combustion of fossil fuel and CO2 emissions, increase government health expenditure and ensure adequate electric power consumption. Also, policies and programs that will guarantee enhanced average life expectancy on a sustainable basis to ensure sustainable economic development should be encouraged in Nigeria.

Sustainable Information and Communication Technology (ICT) for Sustainable Data Governance in Nigeria: A Narrative Review.

Recent developments in big data have heightened the need for Sustainable Data Governance (SDG). SDG is significant in realizing sustainable economic development in Nigeria. Information and Communication Technologies (ICTs) have made landmark innovational trends in empowering data governance globally. Despite these global impacts of ICT on data governance, numerous investigations have shown that poor sustainability of ICT in Nigeria poses barriers that impede progress related to data governance. SDG which is the pivot for economic growth has remained relatively nonexistence or unattended to due to corrupt policies and practices, ignorance, and illiteracy that plagued sustainable ICT innovations in Nigeria. For this study, the Unified Theory of Acceptance and Use of Technology (UTAUT) was adopted as the conceptual framework. UTAUT model claims that the benefits of using technology and the factors that drive users’ decision to use it, is what determines users’ acceptance behavior. In this study, the authors explored a narrative review, analysis, and synthesis of prior research that focused on the theoretical underpinnings of vast works of literature that revealed significant information on the impact of sustainable ICT on Sustainable Data Governance in Nigeria. The authors also extracted peer-reviewed articles within the last five years from electronic databases, using some keywords such as “ICT and SDG”, “ICT and national economic development”, “Trends for ICT”, etc. The result of this study revealed that strict adherence to policies, laws, and guidelines on the adoption of ICT coupled with good formulation and communication of same, are the major impact of sustainable ICT that can leverage SDG in Nigeria. The result from this study may increase understanding, minimize corrupt practices and encourage trust in ICT innovations, ICT adoption, its acceptance and sustainability that can positively impact SDG and national economic development in Nigerian. Keywords: ICT, Sustainable Data Governance, adoption, sustainability, Trends, Trust, corruption. DOI : 10.7176/JIEA/9-5-02 Publication date : August 31 st 2019

Monitoring IT and Internet Usage of Employees for Sustainable Economic Development in Nigeria: Legal and Ethical Issues.

Globally, organization system resources: hardware, software, data, and communication lines and networks are now handled with better interconnected and interdependent facilities because internet connectivity is widely integrated into ambient or ubiquitous environments through intuitive interfaces or “smart” interactions. Organization enterprises are increasingly becoming competitive, with widespread cyberloafing and lawsuits. Through IT and Internet usage, employees may compromise an organization’s confidential information, deliberately or inadvertently. Such concerns prompt companies to introduce employee monitoring to preserve the integrity, availability, and confidentiality of system resources, track employee performance, avoid legal liability, protect trade secrets, and address security concerns. Despite these laudable benefits, employees feel that monitoring is an invasion of their privacy rights. For this study, organizational ethics and major ethical principles of respect for persons, beneficence, and justice representing the key ethical concerns for human subject protection in research were fully adopted as identified in The Belmont Report of 1979. In this study, the authors explored a narrative review, analysis, and synthesis of prior researches that focused on monitoring of employee IT and Internet usage. The authors also extracted peer-reviewed articles within the last five years from electronic databases, using some search keys such as “employee monitoring”, “legal and ethical issues”, “impact of employee monitoring on economic sustainability”, etc. The result of this study revealed that developing an acceptable monitoring policy will keep both employer and employee on the same page as to what is acceptable in the workplace along with what isn’t. This result may further explain the need for employee monitoring, address the legal and ethical issues involved when monitoring employees in a work environment, and provide strategies and practices for acceptable monitoring policy for improved organizational performance and sustainable economic development. Keywords: Employee Monitoring, Legal and Ethical Issues, IT and Internet Usage. Economic Sustainability. DOI : 10.7176/JIEA/9-5-03 Publication date : August 31 st 2019

Employment Generation and Poverty Alleviation in Nigeria: The Role of Social Entrepreneurship

Social entrepreneurship has been acknowledged by scholars as a veritable tool to accelerate the decline in unemployment and poverty. However, the contribution of social entrepreneurship to sustainable economic development in Nigeria has not been felt. This study, therefore, sought to examine the influence of social entrepreneurship on employment generation and poverty alleviation in Nigeria with specific reference to Nigeria Association of Social Workers, Federal Capital Tertiary (FCT) Abuja Chapter. A descriptive survey was employed for the study. Purposive sampling technique was used to select 150 members of the Nigeria Association of Social Workers, Federal Capital Tertiary (FCT) Abuja Chapter. Data were sourced through a structured closed- ended questionnaire designed by the researcher for the study with the aid of personal interview. Data were analysed with the aid of mean, standard deviation, Pearson correlation, and Linear regression. The results revealed that social entrepreneurship measured by social problem solving, social value, social responsibility and human teamwork has a significant relationship with employment generation and poverty alleviation. The study, therefore, concluded that social entrepreneurship is a driving force of social and environmental goals that have an impact on sustainable economic development. Subsequently, the study recommended that government at all levels, private organizations and non- government organizations should embrace the concept of social entrepreneurship and address the issues such as insecurity, acute unemployment, and abject poverty ravaging our society. More also, the concept of social entrepreneurship should be included as a separate branch of management courses in all tertiary institutions of learning.

Human Capital Investment as a Catalyst for Sustainable Economic Development in Nigeria

Human capital development presupposes investments, activities, and processes facilitating the generation of technical and expert knowledge; skills, health or values that are embodied in people. It implies maintaining an appropriate balance and key massive human resource base and providing an encouraging environment for all individuals to be fully engaged and contribute to organizational or national goals. Human capital development is necessary in order for National development to occur. In addition, human capital development teaches people how to utilize the advantages of diverse thinking styles (analytical and intuitive) so that they achieve the best holistic practical solutions. Human capital development and training are basically the same. This paper aims to examine the meaning of human capital development in relation to nation-building. The authors also took a cursory look at the concept of business education and its roles for sustainable development for nation-building. The study examined human capital investment as a catalyst for sustainable economic environment in Nigeria. The broad objective of the study is to analyze the effect of human capital investment on the Nigerian economy from 1986 to2017. The data used for the study were sourced from the central bank statistical bulletin and national bureau of Statistics. Ordinary Least Squares (OLS) techniques were used to analyze the data. The findings of the study reveal that there is a positive relationship between government expenditure on health and real gross domestic product. The adjusted coefficient of determination (R2) shows that 97.3% of variations in the real gross domestic product is being accounted for by government expenditure on education, government expenditure on health and gross capital formation while the remaining 2.7% is accounted for by variables not included in the model. The study suggests that Nigerian policymakers should pay more attention to the health sector and increase its yearly budgetary allocation to it. Nevertheless, the key to achieving best results lies not in ordinarily increasing particular budgetary allocation but rather in implementing a public expenditure and revenue and ensuring the usage of the allocated fund as transparently as possible.

Climate change mitigation: the potential of agriculture as a renewable energy source in Nigeria.

Energy is pivotal to the economic development of every nation. However, its production and utilization leads to undesirable carbon emissions that aggravate global warming which results in climate change. The agriculture sector is a significant user of energy. However, it has the potential to be a major contributor to Nigeria's energy supply mix in meeting its energy deficit. More so, in the light of current and impending adverse effects of climate change, there is a need to contain GHG's emissions. This paper focuses on bioenergy utilization as a climate change mitigation strategy and one that can, through effective waste management, enhance sustainable economic development in Nigeria. The paper employed a critical discourse analysis to examine the potential of the agricultural sector to provide biofuels from energy crops and other biomass sources. We conclude that Nigeria can reduce its GHG emissions and greatly contribute to global climate change mitigation while also alleviating its energy supply deficit if the agricultural and municipal wastes readily available in its towns and cities are converted to bioenergy. Such engagements will not only promote a clean and healthy environment but also create jobs for economic empowerment and a better standard of living for the people.

Role of Commercial Banks in Sustainable Economic Development in Nigeria

Role of Commercial Banks in Sustainable Economic Development in Nigeria

Achieving Sustainable Economic Development in Nigeria through Financial Inclusion in the Agriculture Sector

A major challenge in the agriculture sector in Nigeria is access to finance. Examining whether, increased access to financial services by farmers can bring about sustainable development in Nigeria merits attention. In response, the study adopted survey research design to obtain and analyse the perception of 105 farmers in Ogun State, Nigeria on the subject. It was observed that financial inclusion in the Nigerian agriculture sector can be used to achieve sustainable development. The study recommends the siting of more financial institutions in rural areas and financial discipline, amongst others, as measures to achieve financial inclusion in the agricultural sector.

Cooperative marketing societies and its challenges for sustainable Economic Development in Lagos, Nigeria

The paper notes the transformation of cooperative marketing societies, and the shortcomings inherent in the cooperative marketing operations, management which dampen their achievement and potentials to achieve sustainable economic development in Nigeria. The paper therefore, advocates for cooperative marketing and establishment of a cooperative Board/Agency, improved returns on shares, democratic and transparent leadership for cooperative societies to be able to impact significantly on the society for sustainable economic growth and development in Nigeria. Although cooperative societies in Nigeria have impacted significantly on encouraging commercial activities, savings mobilization, communal development and contributing generally to economic growth, they fill the gap created by the absence of marketing and inadequate capital or funds from the surplus-economic-units and urban areas. Keyword: cooperative, marketing, economic, and development.

Public Healthcare Expenditure and Health Sector Performance in Nigeria: Implications for Sustainable Economic Development

This paper uses the concept of co-integration in an empirical analysis of the long-run relationship of Nigeria’s public healthcare expenditure, institutions and health sector performance outcome. The analysis employs the use of annual data for the sample period from 1970 to 2011. The purpose of this study is to investigate and explain the impact of government healthcare expenditure and the quality of institutions on the sector performance outcome as well as provide a more in-depth analysis of the important of institutions in determining a sustainable positive health sector outcome with its multiplier effects on development. The autoregressive distributed lag (ARDL) and VECM granger non-causality techniques were used for estimating the long-run and short run coefficients of the health sector model as well as to confirm direction of causality between the variables. The empirical results from ARDL bound testing approach provide strong evidence of the existence of a long-run and shortrun stable relationship among the variables included in both models. In addition, both models estimated in this paper offer empirical results, which support the hypothesis that good institutions are germane to positive health sector outcome, and that causality runs from all the variables in the model to infant mortality rate. This is an important finding for the achievement of healthy human capital necessary for a sustainable economic development in Nigeria. JEL Classification H72; HI10; H51; I-18; O-15

Building Human Capital for Sustainable Economic Development in Nigeria

This paper examined issues dealing with the effectiveness of the Nigerian educationsector in meeting the human capital needed for economic development in an era of reforms. The paper is essentially a descriptive analysis of a set of indicators to assess the readiness of the sector in providing the needed human capital for the diverse segments of the Nigerian economy. The indicators used to assess the effectiveness of the education sector include: level of funding, the rate of return to investment in the sector, the HDI ranking, expenditure on R&D,and contributions to major patent offices. The study revealed that the sector lags behind in all the indicators used to assess its effectiveness. The paper recommends major reforms in the sector including increased funding, overhaul of school curricula and introduction of a new incentive structure for school workers.

Psychological Empowerment and Development of Entrepreneurship Women: Implications for Sustainable Economic Development in Nigeria.

The problem of sustainable economic development in Africa has continued to attract the interest of economic analysts, political commentators and other social scientists. Successive governments in Nigeria and as well the rest of African have adopted several strategies to engender growth and development, but it seems that most of these attempts have not achieved the desired results. Most of the previous development efforts in Africa, including Nigeria, have focused on the political and economic-related issues with little or no reference to psychological factors in development. This paper therefore examines the role of psychological empowerment in development of entrepreneurship among women. It is acknowledged that one major problem of underdevelopment in Nigeria is the issue of unemployment, especially among willing and employable Nigerians. Women have also been seen as very relevant in current development efforts in developing countries and their contributions in wealth creation have been amply documented. It is argued here that women can generate the needed employment and wealth on their own but it may be necessary to empower them psychologically to become successful entrepreneurs. The paper also links entrepreneurship with wealth creation and pointed out the implications of entrepreneurship in sustainable economic development.

An Error Correction Modeling (ECM) of the Determinants of Deforestation in Nigeria

Persistent deforestation is one of the major constraints to sustainable economic development in Nigeria. This study used the Error Correction Mechanism (ECM) to determine the economic factors influencing deforestation. The data were national aggregates collected from several secondary sources for 1961-2000. Data analysis showed that there were at least 7 cointegrating vectors in the estimated model. Also, the dynamic unrestricted short-run parameters of cereal cropland growth rates (0.564), tuber cropland growth rates (-1.961), permanent cropland growth rate (22.136), tuber yield (0.126), livestock population (-2.156), human population (-9.214), other land areas (0.281), agricultural Gross Domestic Product (0.156), and roundwood production (0.684) had significant impact on deforestation (p < 0.05). The study recommends that efforts to address further deforestation should include enforcement of laws guiding the cutting of forest trees and research development to ensure development of crop hybrids that are resistant to environmental Stress, among others.