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Author(s):
Editor in Chief.
Page No :
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African Journal of Economics and Sustainable Development, Volume 5 Issue 2, Full Issue
Abstract
African Journal of Economics and Sustainable Development, Volume 5 Issue 2, Full Issue
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Author(s):
Okeke C. Charles, Dr. Maduka Olisaemeka D., Prof. Okonkwo I.C..
Page No : 1-20
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Determinants of Private Sector Growth in Nigeria, 1981 – 2020
Abstract
This study examines and analyses the determinants of private sector growth in Nigeria. The dependent variable is Private Sector Growth (PSG) and the independent variables are Real Gross Domestic Product (RGDP), Interest Rate (INTR), Per Capita Income (PCI), Inflation Rate (INFR), Exchange Rate (EXR), Broad Money Supply (BMS). The data for the study were sourced from CBN Statistical Bulletin, 2019 / 2020 edition from 1981 to 2020. The study employed Cointegration and Error Correction Mechanism as the main analytical tool. It also applied the unit root test and results showed that the data were integrated at order one while the long-run relationship among the variables was confirmed using the Johansen (1988) cointegration test. Estimates of the Error Correction Model result showed that Interest Rate (INTR), Exchange Rate (EXR) have a negative significant relationship with the determinants of private sector growth in Nigeria, Broad Money Supply (BMS) has a negative significant relationship with the determinants of private sector growth in Nigeria. In conclusion from the above results, it was observed that the determinants of the private sector growth in Nigeria contributed to the improvement and enhancement of Interest Rate, Exchange Rate and Broad money Supply in Nigeria. It was recommended that interest rate, exchange rate and broad money supply have a significant positive and negative relationship between interest rate, exchange rate and broad money supply with the determinants of private sector growth in Nigeria base on this result: it is recommended that continued attraction of real sector development from private investors would boost economic growth in Nigeria. And also to develop human capital for Nigeria would be to put in place policies and infrastructures that could encourage private investment inflows.
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Author(s):
Adegoriola Adewale E. (Ph.D), Emmanuel Swemishi Comfort .
Page No : 21-37
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Nexus between Exchange Rate Fluctuation and Foreign Direct Investment in Nigeria
Abstract
This study examined the nexus between exchange rate fluctuation and foreign direct investment in Nigeria from 1986 to 2020. The research was conducted using relevant econometric tools which include unit root test, co-integration test and Autoregressive Distributed Lag (ARDL) model. The results of ADF unit root test revealed that only interest rate is stationary at level while exchange rate, foreign direct investment, gross capital formation and inflation rate became stationary at first deference. The bounds test showed that there is a long run relationship between the foreign direct investment inflows, interest rate, exchange rate, gross capital formation and trade openness in Nigeria. The findings revealed a negative relationship between exchange rate and foreign direct investment in Nigeria and all the lagged value of exchange rate are statistical significant at 5% level of significant, which an indication of exchange rate importance on foreign direct investment inflows into Nigeria to a two standard error shock of exchange rate showed that exchange rate effect on foreign direct investment is persistence and significantly positive over the a period of up to 8 years after the shock. The exchange rate, though relatively stable, has a profound effect on foreign direct investment in Nigeria. The study recommended that given the perceived over-valued naira, a deliberate effort toward revaluation of the naira to reflect the true value of dollar to naira exchange rate will obviously increase the exchange rate and as such makes it cheaper to invest in Nigeria by foreign businesses.
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Author(s):
Muftau Adesina Abayomi, Onaopemipo Ruth Olufemi.
Page No : 38-54
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Influence of Solid Mineral Development on Economic Growth in Nigeria
Abstract
Nigeria’s over-dependence on crude oil revenue has exposed the economy to price shocks emanating from vicissitudes in the global oil market, which has accentuated the need for urgent economic diversification. One of such areas that holds the potential for Nigeria’s economic diversification is the solid mineral subsector. The study examined the influence of solid mineral development on economic growth in Nigeria, using the Auto Regressive Distributed Lag (ARDL) Approach. Time series data which spanned 1981 to 2019 were used in the study. The study tested for stationarity among the time series while all results were tested at 5 per cent level. The result revealed that Solid Mineral Development exerted an insignificant positive influence on economic growth in the study area. Finally, the study recommended a religious implementation of the solid mineral development plan and the strengthening of regulation, among others, with a view to accelerating economic growth in Nigeria.
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Author(s):
Mojibayo Fadakinte (Ph.D).
Page No : 55-71
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The African State and Sustainable Development Goals: A Public Policy Perspective
Abstract
Sustainable development is an idea of global awareness about the demand for natural resources for growth and development with obvious consequences on the environment, especially for the future. The idea now has a 17-goal agenda, which was adopted in January 2015, by the UNDP to be achieved within a time frame of 15 years, from 2015 to 2030. Even though Africa is not on the same level as the global North, in terms of development, all African countries now embrace the idea. Using public policy as a perspective in understanding the implementation of the 17 goals, because all the 17 goals are policy issues and the state is central to policy formulation and implementation, this paper, therefore, interrogates the nature of the African state in order to see the extent to which African countries can achieve the 17 goals. The paper observes that the nature of the African state must be put in a proper perspective in order to understand why African countries may not achieve even one of the 17 goals within the 15- year time frame. This is because the state is today, the problem with the African development process, for being in crisis and for operating with very weak institutions.
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Author(s):
Yaqoob Abdul Majeed, Muhammad Abdul-Yakeen Rahji, Kabir Kayode salman, Adeola Oluwakemi Obayelu.
Page No : 72-104
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Rural Livelihoods and Food Insecurity among Farming Households in Southwestern Nigeria
Abstract
Rural livelihoods have been the subject of empirical analysis in development studies because they play important roles in mitigating Food Insecurity (FI). In Nigeria, the incidence of FI is higher among the rural populace, particularly the peasant farming households, than urban households. Previous studies have linked aggregate measure of rural livelihoods to FI with little attention to contributions of specific components to FI. Hence, the influence of rural livelihoods on FI status of farming households was investigated. Primary data were collected from 400 farming households in Osun and Ekiti states of Southwestern Nigeria using semi-structured questionnaire.
The result shows that age of household heads was 51.9±11.4 years, while household size was 8±2.9 persons. Households that were Core Food-insecure (CFI), Moderately Food-insecure (MFI) and Non Food-insecure (NFI) were 4.38%, 35.89% and 59.73%, respectively. The probability of being NFI was increased by age (0.0115), Being Married-BM (0.1073), Household Size-HS (0.0166), Post Primary Education-PPE (0.1090), Access to Irrigation-AI (0.1376), rain forest zone (0.1417), and Financial Asset-FA (0.1630), while extension services (-0.0040) and Access to National Grid-ANG (-0.1620) reduced it. Extension services (0.0030), farming experience-FE (0.0052), and ANG (0.1202) increased the probability of being MFI, while age (-0.0085), BM (-0.0706), PPE (-0.0809), HS (-0.0123), AI (-0.1020) and rain-forest zone (-0.1051) reduced it. Extension services (0.0011), FE (0.0018), and ANG (0.0419) increased the probability of being CFI, while age (-0.0030), BM (-0.0277), PPE (-0.0282), HS (-0.0043), AI (-0.0356), rain-forest zone (-0.0366) and FA (-0.4210) reduced it.
On-farm rural livelihood relative to combined on-farm with off-farm and non-farm, reduced food insecurity among farming households in Southwestern Nigeria.
Keywords: Rural livelihoods, Food-insecurity, Livelihoods’ assets, Food consumption scores
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Author(s):
Abdulrashid Iliya, Naima Hafiz Abubakar, Salihu Dasuki.
Page No : 105-118
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Women and Mobile Phone Charging Business in Nigeria: A Capability Perspective
Abstract
There is a growing adoption of solar home systems to support sustainable development and address poor electricity supply in sub-Saharan Africa (SSA). This has resulted in the rise of solar mobile phone charging businesses, especially in off-grid communities. An area that remains under researched that needs to be addressed is how these solar mobile phone charging businesses provide opportunities for women in rural communities in SSA. We employ the concepts of Sen's Capability Approach to evaluate how the solar mobile phone charging businesses has improved the lives of women by focusing on opportunities provided for expanding their freedoms to participate in social, economic, and political activities. Our analysis shows that women's involvement in solar mobile phone charging businesses has enhanced their individual and collective capabilities to participate in development activities; however, certain contextual factors hinder the generation of these capabilities. The paper concludes with some implications for theory and practice.
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Author(s):
Ojukwu Henry Sonna, Umemezia Evelyn, Agbadudu Joseph Edewor, Azotani Francis Chuks.
Page No : 119-138
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Sand Mining: Economic gains, Environmental Ethics, and Policy Implications
Abstract
Sand mining which been a major contributor to economic growth and development has turned out to be a source of environmental degradation based on the fact that the renewal rate of sand is lower than its rate of consumption. This study reviewed the universe, earth, and finally focused on sand as one of earth’s most consumed natural resources after water. The study shows how countries of the world engage in sand exportation to grow their economy by creating job opportunities to both skilled and unskilled individuals in the society. Key issues surrounding the ethical conduct of sand mining were discussed in details by angling towards environmentalists’ view that are of the opinion that sand mining activities ought to be drastically reduced and strictly regulated in order to save the depleted state of the ecosystem. The study was anchored on the Green theory which emphasizes that there is a need to regulate the overconsumption of shared natural resources such as land, water, and sea animals by individuals and organizations.
