Download or read book Economic Development in Nigeria Through the Agricultural Manufacturing and Mining Sectors written by Dennis Chiekweiro Uzoigwe and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1960s, Nigeria was on a par, in terms of aspirations to attain a very high level of economic growth and development, with its fellow-oil producing and exporting countries such as Malaysia and Indonesia, but has since failed to keep pace with them. Nigeria's agricultural, manufacturing and mining and quarrying sectors have played a continuous and significant role in the development of the country's economy. The approval of the millennium development goals (MGDs) by the United Nations General Assembly therefore raises three pivotal questions for Nigeria. 1) Why is Nigeria still an underdeveloped and lowincome country? 2) What should the country do to make rapid economic and social progress? and 3) How can it attain a high level of economic development and growth?. This is the background of this study, which is an empirical investigation into the factors affecting Nigeria's bid to achieve sustainable economic growth and development with particular reference to such sectors as agriculture, manufacturing and mining and quarrying (solid minerals) over the period of 1970-2005. This involves the analysis of the relevance of the health care and education sectors and examination of impediments to past economic development, a development model applicable to Nigeria, the efforts made and the challenges facing the country in achieving the MDGs, and the role of foreign development partners in complementing Nigeria's development efforts. The methodology adopted for this study is sectoral-econometric modelling, using the Engle- Yoo (1991) model, which contributes to bridging the gap seen in empirical studies in the application of a multivariate dynamic econometric cointegration model on the effect of domestic and foreign financial resources investment for the development of the growth sectors in the Nigerian economy. The model captures the essential linkages between the growth sectors and the country's efforts to achieve a high level of economic development. The results from the simulations are broadly consistent with findings described in theoretical and empirical literature. There is a strong positive relationship between the gross output of the agricultural, manufacturing and mining and quarrying sectors and labour input and public capital expenditure for the growth sectors. Also there is a strong positive relationship between the agricultural credit guarantee scheme, fertiliser and the gross output of agriculture. Furthermore, the findings show a positive impact of the structural adjustment programme with the agricultural and manufacturing production. Dynamic simulation of results was undertaken to assess the path of the 10 percent dynamic adjustment (shocks) on the relevant exogenous variables and the response properties show remarkable and positive significant impact due to the shocks. The estimated actual and forecast values of the equations in the model show notable increase in the amount and growth of the gross domestic product of the real sectors in Naira billion from 2005 to 2008. The study calls to question rigid government control over the mining and quarrying sector. The importance of mining and quarrying in accelerating the pace of economic growth in Nigeria should rather motivate the government to deregulate and reform the sector. This will enable the government to attract investors into the sector, while effectively planning to encourage the proliferation of small-scale artisan, medium-scale and large-scale miners. The deregulation of the mining and quarrying sector will boost production, growth and development through employment creation, increased income of household miners and upliftment of the social and economic status of the vast majority of Nigerians. Some of the reasons identified for Nigeria's poor economic performance include: the serious effect of Dutch disease, reflected in the country's inability to manage and diversify its oil wealth to transform and achieve dynamic industrial (manufacturing), agricultural, mining, health and educational and other growth sectors. Nigeria also suffers the effects of a troubled political history, during which military rule persisted for extended periods. This study shows the importance of improving the knowledge base for policymaking, where intersectoral linkages between economic and social factors can be identified, and direct and indirect macroeconomic policy effects discerned. This distinguishes the study from earlier work in Nigeria on development policy. Achieving a high level of economic development through transforming the country's real sectors will not only reduce poverty by providing food security, increased agricultural and industrial exports, increased per capita income and consumption, but will also bring about improved literacy and a healthy workforce and foster peace and security in Nigeria. In addition, success in transforming the real sectors will strengthen and broaden the productive base of the country, which currently relies heavily on the petroleum sector as the major earner of foreign exchange. In order to achieve a high level of economic development and growth, attention should be concentrated on channelling global financial resources to the above-mentioned sectors because of their strong linkages with and powerful value-added effect to the rest of the economy. Under the new democratic dispensation, there ought to be large investment into the growth and support sectors from domestic and external sources if the country is to attain the international growth target of achieving a high and sustainable level of economic development. Therefore, with a strong will to become a patriotic civil society, stable and prosperous, and enough wisdom to elect leaders with good will and fairly good knowledge of the country's economy, great prospects lie before the Nigerian economy.
Download or read book Essential Economics of Growth and Development in Nigeria written by I. O. Imide and published by . This book was released on 2004 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Agriculture and Economic Development in Nigeria written by Adekunle Folayan and published by . This book was released on 1983 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of Agriculture in Development written by Xinshen Diao and published by Intl Food Policy Res Inst. This book was released on 2007 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes in the global environment have led some to question whether the conventional wisdom on the role of agriculture in economic development is still relevant to Africa today. This report critically examines the literature on this issue, taking both the conventional and skeptical views into account. It complements this review with case studies of five African countries. The findings indicate that agricultural growth will play an essential role in promoting overall economic growth and reducing poverty in most of Africa's agrarian-based economies. This holds true even for countries that have the potential for industrial growth driven by natural resources. The results also show that only smallholder food-staple and livestock production can generate broadbased agricultural growth. By demonstrating that Africa's agricultural and food subsector cannot be bypassed, this report contributes to an important ongoing debate in development studies.
Download or read book Learning from China written by Chen, Yunnan and published by Intl Food Policy Res Inst. This book was released on 2016-11-21 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The question of how to promote structural transformation is central in fostering sustainable growth and poverty reduction in low-income countries in Africa. Following China’s domestic economic transformation and its growing outward investments in the developing world, we seek to understand how Chinese investment in Africa, particularly in manufacturing, may help to foster industrialization and in turn the structural transformation of African economies. We focus on Chinese investments and partnerships in Nigeria, a salient destination for Chinese manufacturing foreign direct investment in Africa, and examine the potential mechanisms of technology transfer that might catalyze such transformation. We find some small but significant cases of potential technology transfer, particularly through technical partnerships between firms. However, the future potential of such mechanisms will depend on the initiative of Nigerian actors to leverage Chinese investment to their interest.
Download or read book The Changing Structure of the Nigerian Economy and Implications for Development written by Central Bank of Nigeria. Research Department and published by . This book was released on 2000 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rural Development in Tropical Africa written by Judith Heyer and published by Springer. This book was released on 1981-06-18 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Development Report 2008 written by World Bank and published by World Bank Publications. This book was released on 2007-10-15 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's demand for food is expected to double within the next 50 years, while the natural resources that sustain agriculture will become increasingly scarce, degraded, and vulnerable to the effects of climate change. In many poor countries, agriculture accounts for at least 40 percent of GDP and 80 percent of employment. At the same time, about 70 percent of the world's poor live in rural areas and most depend on agriculture for their livelihoods. 'World Development Report 2008' seeks to assess where, when, and how agriculture can be an effective instrument for economic development, especially development that favors the poor. It examines several broad questions: How has agriculture changed in developing countries in the past 20 years? What are the important new challenges and opportunities for agriculture? Which new sources of agricultural growth can be captured cost effectively in particular in poor countries with large agricultural sectors as in Africa? How can agricultural growth be made more effective for poverty reduction? How can governments facilitate the transition of large populations out of agriculture, without simply transferring the burden of rural poverty to urban areas? How can the natural resource endowment for agriculture be protected? How can agriculture's negative environmental effects be contained? This year's report marks the 30th year the World Bank has been publishing the 'World Development Report'.
Download or read book Geology and Mineral Resources of Nigeria written by Nuhu George Obaje and published by Springer. This book was released on 2009-06-18 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains details on the geological units of Nigeria and the associated mineral resources. The book is divided into three parts. Part 1 discusses the geology of the crystalline rocks and their regional distribution while the sedimentary basins constitute the subject of Part 2. Part 3 takes the mineral resources of Nigeria one on one, their geological environment, mode of occurrence, localities and where possible the reserves estimation. Thereafter, an account of the previous and current mining policies (including that of petroleum) of the Nigerian government is given and goes ahead to list some specific investment opportunities in the solid minerals sector.
Download or read book Mining in Africa written by Punam Chuhan-Pole and published by World Bank Publications. This book was released on 2017-02-14 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study focuses on the local and regional impact of large-scale gold mining in Africa in the context of a mineral boom in the region since 2000. It contributes to filling a gap in the literature on the welfare effects of mineral resources, which, until now, has concentrated more on the national or macroeconomic impacts. Economists have long been intrigued by the paradox that a rich endowment of natural resources may retard economic performance, particularly in the case of mineral-exporting developing countries. Studies of this phenomenon, known as the “resource curse,†? examine the economy-wide consequences of mineral exports.1 Africa’s resource boom has lifted growth, but has been less successful in improving people’s welfare. Yet much of the focus in academic and policy circles has been on appropriate management of the macro-fiscal and governance risks that have historically undermined development outcomes. This study focuses instead on the fortune of local communities where resources are located. It aims to better inform public policy and corporate behavior on the welfare of communities in Africa in which the extraction of resources takes place.
Download or read book Sierra Leone written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-07-09 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Government of Sierra Leone’s new Medium-term National Development Plan (MTNDP) 2019–2023 has been founded on a strong political commitment to deliver devel-opment results that would improve the welfare of Sierra Leone’s citizens. The plan charts a clear path towards 2023 en route to the goal of achieving middle-income status by 2039 through inclusive growth that is sustainable and leaves no one behind. For the next five years, the Free Quality School Education Programme is the government’s flagship programme to provide a solid base to enhance human capital development and to facilitate the transformation of the economy.
Download or read book Nigeria written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-12-19 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Poverty Reduction Strategy Paper for Nigeria highlights the National Economic Empowerment and Development Strategy (NEEDS). NEEDS gives special support to agriculture, industry, small and medium-scale enterprises, and oil and gas. Under the plan, the government will seek long-term capital for investment. Trade policy will be modified to unburden business of the red tape and complex procedures that hinder it from flourishing. NEEDS envisages forging stronger links between educational institutions and industry to stimulate rapid industrial growth and efficient exploitation of resources.
Download or read book Economic Development in Africa Report 2021 written by UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT. and published by . This book was released on 2022-01-07 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The African Continental Free Trade Area is expected to be a game changer for development ambitions in Africa.
Download or read book Evolutionary and Revolutionary Technologies for Mining written by National Research Council and published by National Academies Press. This book was released on 2002-03-14 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Office of Industrial Technologies (OIT) of the U. S. Department of Energy commissioned the National Research Council (NRC) to undertake a study on required technologies for the Mining Industries of the Future Program to complement information provided to the program by the National Mining Association. Subsequently, the National Institute for Occupational Safety and Health also became a sponsor of this study, and the Statement of Task was expanded to include health and safety. The overall objectives of this study are: (a) to review available information on the U.S. mining industry; (b) to identify critical research and development needs related to the exploration, mining, and processing of coal, minerals, and metals; and (c) to examine the federal contribution to research and development in mining processes.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book The Balance Between Industry and Agriculture in Economic Development written by Vadiraj R. Panchamukhi and published by Springer. This book was released on 1989-02-06 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of papers from the Eighth World Congress deals with changes in proportions and growth rates of sectors of the economy in relation to economic development. It includes a survey of theories of sectoral balance and studies of structural transformation in the Kuznets traditon.
Download or read book Measuring and Analyzing the Impact of GVCs on Economic Development written by World Trade Organization and published by World Trade Organization. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
