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Economic Diversification In Nigeria
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Book Synopsis Economic Diversification in Nigeria by : Zainab Usman
Download or read book Economic Diversification in Nigeria written by Zainab Usman and published by Zed Books. This book was released on 2023-12-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nigeria has for long been regarded as the poster child for the 'curse' of oil wealth. Yet despite this, Nigeria achieved strong economic growth for over a decade in the 21st century, driven largely by policy reforms in non-oil sectors. This open access book argues that Nigeria's major development challenge is not the 'oil curse', but rather one of achieving economic diversification beyond oil, subsistence agriculture, informal activities, and across its subnational entities. Through analysis drawing on economic data, policy documents, and interviews, Usman argues that Nigeria's challenge of economic diversification is situated within the political setting of an unstable distribution of power among individual, group, and institutional actors. Since the turn of the century, policymaking by successive Nigerian governments has, despite superficial partisan differences, been oriented towards short-term crisis management of macroeconomic stabilization, restoring growth and selective public sector reforms. To diversify Nigeria's economy, this book argues that successive governments must reorient towards a consistent focus on pro-productivity and pro-poor policies, alongside comprehensive civil service and security sector overhaul. These policy priorities, Nigeria's ruling elites are belatedly acknowledging, are crucial to achieving economic transformation; a policy shift that requires a confrontation with the roots of perpetual political crisis, and an attempt to stabilize the balance of power towards equity and inclusion. The eBook editions of this book are available open access under a CC BY-NC-ND 4.0 licence on bloomsburycollections.com. Open access was funded by The Carnegie Endowment for International Peace.
Book Synopsis Strategic Policy Options for Bracing Nigeria for the Future of Trade by : Gbadebo Odularu
Download or read book Strategic Policy Options for Bracing Nigeria for the Future of Trade written by Gbadebo Odularu and published by Springer Nature. This book was released on 2020-01-28 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the fourth industrial era evolves, the role of blockchain technology, Artificial Intelligence (AI), and machine learning in transforming national commerce cannot be overemphasized, especially with the expansion of e-commerce in Africa. In other words, technological advancement and innovation are becoming essential to many aspects of Nigerian businesses, thereby considerably enhancing trade and productivity. This book provides a primer on the role that digital technology may play in Nigeria’s trade flows, and the implications for enabling an economy-wide deployment of digitization in trade facilitation. This book analyzes the importance of STI’s contributions to the Nigerian economy, focusing on the transition to digital solutions and their potential to significantly increase trade and commerce. Since AfCFTA’s 2018 launch, academic and political responses to the automation of business have increased. Further, business promotion, aid-for-trade, regional integration and trade facilitation issues are at the forefront of business development policy and intellectual discourse in Nigeria. This book details Nigeria’s business opportunities, capacities and challenges with a special interest in sustainably enhancing the nation’s business ecosystem in the digital age. Through the examination of trade facilitation policies, programs, tools, models and technologies, this book demonstrates Nigeria’s need for strategic public-private partnership in digital trade to foster a more sustainable business future.
Book Synopsis Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa by : Osabuohien, Evans S.
Download or read book Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa written by Osabuohien, Evans S. and published by IGI Global. This book was released on 2020-12-04 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: African countries are pursuing a number of development agendas toward achieving economic growth that is inclusive, pro-poor, and sustainable, particularly the type that can unleash the potential of women and booming youthful populations. However, available evidence shows that many African countries have experienced economic hardships and have performed more poorly than other developing and emerging countries in the global south. The Handbook of Research on Institution Development for Sustainable and Inclusive Economic Growth in Africa is an essential research publication that provides comprehensive research on the processes of building viable institutions in Africa that will serve as the fulcrum for utilizing and managing resources as well as promoting economic growth that is inclusive and sustainable. Featuring topics such as climate change, financial development, and poverty, this book is ideal for researchers, policymakers, developers, economic professionals, academicians, government officials, business professionals, and students.
Book Synopsis Industrialization and Economic Diversification by : Banji Oyelaran-Oyeyinka
Download or read book Industrialization and Economic Diversification written by Banji Oyelaran-Oyeyinka and published by Routledge. This book was released on 2022-04-14 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic diversification entails a shift away from a single income source toward multiple income sources from an increasing spectrum of sectors and markets. A persistent concern for some Asian and African economies is their reliance on commodity exports and how they are exposed to the risk of export volatility and income instability. The Covid-19 pandemic and previous oil crashes have demonstrated the adverse impact on such economies. This book provides a systemic analysis of sustainable economic development through economic diversification. The book analyzes diversification and development experiences from comparative perspectives of Asia and Africa. It also investigates determinants of export diversification differentiated by commodities-dependence versus manufactured products and looks at the roles of various institutions and governance of institutions in export diversification. This book will provide policy insights into how different degrees of specialisation in exports across countries have affected outcomes in terms of living standards, economic growth and employment.
Book Synopsis Aid for Trade at a Glance 2019 Economic Diversification and Empowerment by : OECD
Download or read book Aid for Trade at a Glance 2019 Economic Diversification and Empowerment written by OECD and published by OECD Publishing. This book was released on 2019-07-11 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition analyses how trade can contribute to economic diversification and empowerment, with a focus on eliminating extreme poverty, particularly through the effective participation of women and youth. It shows how aid for trade can contribute to that objective by addressing supply-side capacity and trade-related infrastructure constraints, including for micro-, small- and medium-sized enterprises notably in rural areas.
Book Synopsis Toward Climate-Resilient Development in Nigeria by : Raffaello Cervigni
Download or read book Toward Climate-Resilient Development in Nigeria written by Raffaello Cervigni and published by World Bank Publications. This book was released on 2013-08-05 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: If not addressed in time, climate change is expected to exacerbate Nigeria’s current vulnerability to weather swings and limit its ability to achieve and sustain the objectives of Vision 20:2020 [as defined in http://www.npc.gov.ng /home/doc.aspx?mCatID=68253]. The likely impacts include: • A long-term reduction in crop yields of 20–30 percent • Declining productivity of livestock, with adverse consequences on livelihoods • Increase in food imports (up to 40 percent for rice long term) • Worsening prospects for food security, particularly in the north and the southwest • A long-term decline in GDP of up to 4.5 percent The impacts may be worse if the economy diversifies away from agriculture more slowly than Vision 20:2020 anticipates, or if there is too little irrigation to counter the effects of rising temperatures on rain-fed yields. Equally important, investment decisions made on the basis of historical climate may be wrong: projects ignoring climate change might be either under- or over-designed, with losses (in terms of excess capital costs or foregone revenues) of 20–40 percent of initial capital in the case of irrigation or hydropower. Fortunately, there is a range of technological and management options that make sense, both to better handle current climate variability and to build resilience against a harsher climate: • By 2020 sustainable land management practices applied to 1 million hectares can offset most of the expected shorter-term yield decline; gradual extension of these practices to 50 percent of cropland, possibly combined with extra irrigation, can also counter-balance longer-term climate change impacts. • Climate-smart planning and design of irrigation and hydropower can more than halve the risks and related costs of making the wrong investment decision. The Federal Government could consider 10 short-term priority responses to build resilience to both current climate variability and future change through actions to improve climate governance across sectors, research and extension in agriculture, hydro-meteorological systems; integration of climate factors into the design of irrigation and hydropower projects, and mainstreaming climate concerns into priority programs, such as the Agriculture Transformation Agenda.
Book Synopsis Economic Diversification in Oil-Exporting Arab Countries by : International Monetary Fund
Download or read book Economic Diversification in Oil-Exporting Arab Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-04-29 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: countries face similar challenges to create jobs and foster more inclusive growth. The current environment of likely durable low oil prices has exacerbated these challenges. The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility. Greater economic diversification would unlock job-creating growth, increase resilience to oil price volatility and improve prospects for future generations. Macro-economic stability and supportive regulatory and institutional frameworks are key prerequisites for economic diversification...
Book Synopsis Democracy and Ethnic Diversity in Nigeria by : Joseph A. Umoren
Download or read book Democracy and Ethnic Diversity in Nigeria written by Joseph A. Umoren and published by . This book was released on 1996 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes Nigeria's past and present political, social, and economic history as it relates to tribalism, colonialism, lack of political leadership and other dysfunctional behavior in society preventing Nigeria's democracy. It presents vital proposals for future Nigerian democracy and economic prosperity. The book advocates a two-party federalism, tribal nationalism and economic prosperity based on a participatory instead of rotational presidency. The study recommends an economic diversification in Nigeria's revenue sharing, tax systems, domestic economy and agriculture instead of the dependence on oil revenues. Lastly, the book defines the role of the military in the future of Nigeria's democracy.
Book Synopsis Economic Diversification in the GCC by : Mr.Tim Callen
Download or read book Economic Diversification in the GCC written by Mr.Tim Callen and published by International Monetary Fund. This book was released on 2014-12-23 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The economies of the six Gulf Cooperation Council (GCC) countries are heavily reliant on oil. Greater economic diversification would reduce their exposure to volatility and uncertainty in the global oil market, help create jobs in the private sector, increase productivity and sustainable growth, and help create the non-oil economy that will be needed in the future when oil revenues start to dwindle. The GCC countries have followed many of the standard policies that are usually thought to promote more diversified economies, including reforms to improve the business climate, the development of domestic infrastructure, financial deepening, and improvements in education. Nevertheless, success to date has been limited. This paper argues that increased diversification will require realigning incentives for firms and workers in the economies—fixing these incentives is the “missing link” in the GCC countries’ diversification strategies. At present, producing non-tradables is less risky and more profitable for firms as they can benefit from the easy availability of low-wage foreign labor and the rapid growth in government spending, while the continued availability of high-paying and secure public sector jobs discourages nationals from pursuing entrepreneurship and private sector employment. Measures to begin to address these incentive issues could include limiting and reorienting government spending, strengthening private sector competition, providing guarantees and financial support for those firms engaged in export activity, and implementing labor market reforms to make nationals more competitive for private sector employment.
Book Synopsis Low-Carbon Development by : Raffaello Cervigni
Download or read book Low-Carbon Development written by Raffaello Cervigni and published by World Bank Publications. This book was released on 2013-08-05 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Government of Nigeria has adopted an ambitious strategy to make Nigeria the world’s 20th largest economy by 2020. Sustaining such a pace of growth will entail rapid expansion of the level of activity in key carbon-emitting sectors, such as power, oil and gas, agriculture and transport. In the absence of policies to accompany economic growth with a reduced carbon foot-print, emissions of greenhouse gases could more than double in the next two decades. This study finds that there are several options for Nigeria to achieve the development objectives of vision 20:2020 and beyond, but stabilizing emissions at 2010 levels, and with domestic benefits in the order of 2 percent of GDP. These benefits include cheaper and more diversified electricity sources; more efficient operation of the oil and gas industry; more productive and climate –resilient agriculture; and better transport services, resulting in fuel economies, better air quality, and reduced congestion. The study outlines several actions that the Federal Government could undertake to facilitate the transition towards a low carbon economy, including enhanced governance for climate action, integration of climate consideration in the Agriculture Transformation Agenda, promotion of energy efficiency programs, scale-up of low carbon technologies in power generation (such as renewables an combined cycle gas turbines), and enhance vehicle fuel efficiency.
Book Synopsis Nigeria by : International Monetary Fund. African Dept.
Download or read book Nigeria written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2018-03-07 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper analyzes mobilization of tax revenues in Nigeria. Low non-oil revenue mobilization is affecting the government’s objectives to expand growth-enhancing expenditure priorities, foster higher growth, and comply with its fiscal rule which limits the federal government deficit to no more than 3 percent of GDP. There is significant revenue potential from structural tax measures. A broad-based and comprehensive tax reform program is needed in the short and medium term to address these objectives and generate sustainable revenue growth by broadening the bases of income and consumption taxes, closing loopholes and leakage created by corporate tax holidays and the widespread use of other associated tax expenditures, as well as creating incentives for the subnational tiers of government to raise their own source revenues.
Book Synopsis The World Bank Research Observer by :
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Oil Mortality in Post-Fossil Fuel Era Nigeria by : Augustine Sadiq Okoh
Download or read book Oil Mortality in Post-Fossil Fuel Era Nigeria written by Augustine Sadiq Okoh and published by Springer. This book was released on 2020-11-22 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an insight into the complexities of weaning Nigeria from its fossil fuels addiction while growing the economy on low carbon trajectory. Nigeria faces a carbon catch 22 with the proliferation of renewable energy alternatives and scale-up of electric vehicles. The dilemma Nigeria is confronted with is to grow its fossil-led economy or face the challenge of its fossil infrastructure becoming stranded assets. It is a roadmap for plotting an environmentally benign path out of the country’s economic, social and environmental crises. This book is, therefore, a valuable resource for students, Civil Society Organizations, policymakers, academics and climate change adaptation practitioners who are interested in finding an environmentally sensitive path out of Nigeria’s economic cul-de-sac fostered by the decarbonization of the global energy economy. Findings of this study will trigger a national conversation on the looming exit from fossil fuels. In doing so, accelerate the integration of renewable energy into the Nigerian national development plan while building a carbon neutral society. Lessons learnt from the handling of Nigeria’s precarious circumstance will be of immense benefit to other oil prospecting, oil producing and non-producing nations who are interested in finding an equitable way of pursuing two inversely related goals of meeting their decarbonization commitments while simultaneously growing their economies in the post-Paris era.
Book Synopsis Diversification and Cooperation in a Decarbonizing World by : Grzegorz Peszko
Download or read book Diversification and Cooperation in a Decarbonizing World written by Grzegorz Peszko and published by World Bank Publications. This book was released on 2020-07-24 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first stocktaking of what the decarbonization of the world economy means for fossil fuel†“dependent countries. These countries are the most exposed to the impacts of global climate policies and, at the same time, are often unprepared to manage them. They depend on the export of oil, gas, or coal; the use of carbon-intensive infrastructure (for example, refineries, petrochemicals, and coal power plants); or both. Fossil fuel†“dependent countries face financial, fiscal, and macro-structural risks from the transition of the global economy away from carbon-intensive fuels and the value chains based on them. This book focuses on managing these transition risks and harnessing related opportunities. Diversification and Cooperation in a Decarbonizing World identifies multiple strategies that fossil fuel†“dependent countries can pursue to navigate the turbulent waters of a low-carbon transition. The policy and investment choices to be made in the next decade will determine these countries’ degree of exposure and overall resilience. Abandoning their comfort zones and developing completely new skills and capabilities in a time frame consistent with the Paris Agreement on climate change is a daunting challenge and requires long-term revenue visibility and consistent policy leadership. This book proposes a constructive framework for climate strategies for fossil fuel†“dependent countries based on new approaches to diversification and international climate cooperation. Climate policy leaders share responsibility for creating room for all countries to contribute to the goals of the Paris Agreement, taking into account the specific vulnerabilities and opportunities each country faces.
Book Synopsis Nigerian Economy by : Milton A. Iyoha
Download or read book Nigerian Economy written by Milton A. Iyoha and published by . This book was released on 2002 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Political Ecology of Oil and Gas Activities in the Nigerian Aquatic Ecosystem by : Prince Emeka Ndimele
Download or read book The Political Ecology of Oil and Gas Activities in the Nigerian Aquatic Ecosystem written by Prince Emeka Ndimele and published by Academic Press. This book was released on 2017-11-17 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Political Ecology of Oil and Gas Activities in the Nigerian Aquatic Ecosystem reviews the current status of the ecosystems and economic implications of oil and gas development in Nigeria, a key oil-producing state. The ecological and economic impacts of oil and gas development, particularly in developing nations, are crucial topics for ecologists, natural resource professionals and pollution researchers to understand. This book takes an integrative approach to these problems through the lens of one of the key oil-producing nations, linking natural and human systems through the valuation of ecosystem services. - Provides background information on Nigerian aquatic environments, its local history of oil exploration and a review of the physical chemistry of crude oil - Reviews global and national perspectives on the oil and gas industry from a physical ecological, to a socio-political and economic ecological perspective - Demonstrates real-life situations of the interactions and impacts of Nigerian petroleum production on the environment and local populations through case studies
Book Synopsis Special Economic Zones in Africa by : Thomas Farole
Download or read book Special Economic Zones in Africa written by Thomas Farole and published by World Bank Publications. This book was released on 2011-01-01 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book, designed for policymakers, academics and researchers, and SEZ program practitioners, provides the first systematic and comprehensive analysis of SEZ programs in Sub-Saharan Africa. It is the result of detailed surveys and case studies conducted during 2009 in ten developing countries, including six in Sub-Saharan Africa. The book provides quantitative evidence of the performance of SEZs, and of the factors which contribute to that performance, highlighting the critical importance not just of the SEZ itself but of the wider national investment climate in which it functions. It also provides a comprehensive guide to the key policy questions that confront governments establishing SEZ programs, including: if and when to launch an SEZ program, what form of SEZ is most appropriate, and how to go about implementing it. Among the most important findings from the study that is stressed in the book is the shift from traditional enclave models of zones to SEZs that are integrated ? with national trade and industrial strategies, with core trade and social infrastructure, with domestic suppliers, and with local labor markets.Although the book focuses primarily on the experience of Sub-Saharan Africa, its lessons will be applicable to developing countries around the world."
