Capital Market Predictive Power on the Development of the Nigerian Economy: An Impulse Response and Variance Decomposition Approach (Published)
The study is an empirical investigation of the contributions of the Nigeria’s capital market to the development of Nigerian economy. Most researchers focused on capital market and growth nexus, where as we deviated by focusing on the role played by capital market in ensuring reduction of unemployment and poverty in Nigeria. Specifically, we investigated the contributions of market capitalization (MCAP), value of share traded (VST) and all share index (ASI) to unemployment rate (UNPR) and poverty (NPI) reductions in Nigeria within the period 1981 to 2017. The data series used were sourced from the annual statistical bulletin of the central bank of Nigeria (CBN) and Nigeria stock exchange (NSE). Preliminary analyses of stationarity and cointegration tests revealed that the series were non stationary at levels; and cointegrated respectively. The result of the impulse response functions (IRF) and variance decompositions from the two models considered revealed that the contributions of the capital market to poverty reduction in Nigeria is highly insignificant, while it contributes fairly to unemployment reductions in Nigeria within the study period. Conclusively, the research reveals that the Nigeria capital market is not contributing optimally to the development of Nigeria’s economy as this is evident on its abysmal contributions to poverty and unemployment reductions. In line with the findings of this work, we recommend that the Nigeria capital market should be repositioned in a way that it can optimally contribute to the reduction of unemployment and poverty in Nigeria.
As society grows, its increasing social demand is also when large resources are being lost, as well as the price for growing. The balance between the two economic and environmental benefits recently has been constantly mentioned as a difficult problem for any country. This research points to the growing conflict between economic development and environmental protection, how to balance economic benefits with environmental protection, and propose solutions to both economic development and environmental protection.
Agricultural Budgeting in Anambra State: its’ implication for Sustainable Economic Development (Published)
This work was embarked upon with a view to determining agricultural budgeting over the years and its implication for sustainable economic development. Designed essentially as a descriptive survey, it is an ex-post-facto study. Secondary data used for the study were sourced from the official records and documents of Anambra State Government Nigeria. Data were analyzed using the time series components of trend and moving averages using E-view. Results indicated the following: there was no correspondence between estimated agricultural revenue and actual expenditure in the budget of Anambra State Government – hence large deficits were recorded. There was a mismatch between planned expenditure with remarkably high values that was observed in the Anambra State budget. The trend in the growth of actual agricultural expenditure over the period was upward sloping, rising slowly and steadily. The trend in the growth of actual revenue of the Anambra State Government budget over the period was upward sloping, rising sharply at first, and following an irregular pattern as it progresses. It was concluded that need outgrow availability of resources in Anambra State. However the fact remains that the problem was more of managerial than it was that of availability of resources. It is therefore recommended that, among other things, agricultural activities must be monitored so as to ensure proper implementation.
Human rights and good governance are the salient elements of a well-functioning state and society. They are also mutually reinforced; for human rights principles provide a set of values to guide the work of government and other political and social actors. Good governance on the other hand is a key to sustainable development and without good governance human rights cannot be respected in a sustainable manner. The three concepts thus work hand in hand. However in countries like Nigeria where democracy and rule of law have not been fully nurtured the move towards implementing human rights and good governance principles into the daily functioning of state institutions can be a huge challenge. The probability that a nation will achieve the aims of sustainable development and participative democracy are all the greater if human rights are respected. The aim of this article is to ascertain the level of observance of respect of the human rights in Nigeria by the government authorities and other social actors and the impact such observance or otherwise has on governance and development in Nigeria. It is observed that though the Constitution of the Federal Republic of Nigeria, 1999 (as amended) makes an elaborate provision on human right, and that Nigeria has acceded to numerous international instruments on human rights, the problem of bad governance with the resultant inadequate development has a link with failure of the authorities that be, to adequately appreciate the requirements of human rights and apply them in governance. Furthermore a lot of the basic human rights as contained in Chapter II of the Nigerian Constitution are not enforceable, thus failure of the authorities to observe them cannot be questioned. It is advocated.
Sustainable Development Goals (SDGS) refer to the global initiatives that developed and developing nations have signed up to for the purpose of guaranteeing the best quality of life in 17 broad areas of human needs. SDG 4 is about quality education. SDG 4.7 focuses on education for sustainability, sustainable living/lifestyle, human right education, peace education gender inequality, global citizenship and how they should impact on quality education. These global educational contents are expected to be mainstreamed into the school curriculum at various educational levels. This paper clarifies each component of the SDG 4.7 and explains how best the new subject matters can be integrated into the Nigerian school curriculum as well as implemented in our daily living. Two ways whereby the new curriculum contents can be mainstreamed are either to create new school subjects or, to infuse the new contents into existing subjects in the curricula. This latter option is preferred and so recommended because the curricula of our schools are already too over-loaded to accommodate more subjects. The guidelines for the recommended infusion are made. The place of the teacher in implementing the new curriculum areas is emphasized. Recommendations are made for reorienting teachers towards more effective implementation of the new curricula through pre-service and in-service training. The pedagogical practices that will facilitate the attainment of Goal 4.7 are described, including appropriate teachers preparation, improved methods, resources, and facilitates. Also stressed is the need to accommodate all categories of children- the normal and disabled, boys and girls in the provision of furniture, play facilities and toilet facilities among others.
Corporate Social Responsibility (CSR) Practices in Coffee Producer Farmers’ Cooperative Unions: The Case of Bench-Maji, Kaffa, and Sheka Zones, South Western Ethiopia. (Published)
Cooperative enterprise is one of the business enterprises with its peculiar characteristics of solving its members’ economic, social, and cultural problems where individuals couldn’t solve alone. The seventh ICA principle of “concern for community” clearly urges the cooperatives to carry out sustainable community development activities. Even though the cooperatives are serving the community directly or indirectly, their sight to the concept Corporate Social Responsibility (CSR) is not clearly considered by their members, academicians, and the government. The objective of this study was to assess the practices performed by Coffee Producer Farmers’ Cooperative Unions regarding Corporate Social Responsibility for community development at the study area. For this study both primary and secondary data source were used. The size of respondents was 395 members of Cooperative Society and 50 Government officials. The data was analyzed using MS Excel and SPSS version 20. The finding shows that there are job creation, supply of agricultural input, and expansion of coffee processing industry for serving both members and non-members, whereas drawback on the awareness creation to the community, absence of participation of community during planning, implementing, and evaluating community concerned project, limited and inconsistent allocation of community concerned fund, non-representing Corporate Social Responsibility financial statements at unions’ offices for CSR budget. It is recommended as such management body of the unions should participate the community during planning, implementing, and evaluating socially responsible projects, cooperative social responsibility practices should be thoroughly supervised and supported by the government, cooperatives from their annual surplus should allocate community development fund, both GOs and NGOs working on sustainable development activity at that area must work with cooperatives, and Cooperatives have to maintain separate book of account to record financial activities of cooperative social responsibility practices.
Youth Volunteerism in Socio-Economic Activities for Sustainable Community Development in Nigeria (Published)
The desire to help others or contribute to the society has been an essential aspect of human nature. Volunteerism is the act of donating time, energy knowledge, skills etc. for the benefit of other people in the community as a social responsibility rather for any financial benefit or remuneration. The success of any nation depends on the involvement of the young adults in the socio-economic development, especially at this time of recession that youth unemployment is very high. For the youth, volunteering offer opportunities for self-development and provide a valuable grounding in the practice of citizenship. With the right education for all the citizens, the large expanded youth population could provide the continuing growth and thus sustainable development. With the view of these, volunteer groups should be formed at the primary, secondary, and tertiary institutions as means of promoting sustainable development. Mass media houses should advertise success stories of volunteer effort and promote volunteerism for sustainable development.
Indigenous Skills and Entrepreneurship Education: A Critical Blend for Sustainable Development in Nigeria (Published)
Generally, education is regarded as the most potent for achieving national development. This plausible statement clearly places education beyond any other sector in the onerous drive for national development. Sustainable development goals were articulated by the United Nations to fathom how far away countries are from achieving national development through the creation of National sustainable development strategies. While it is recognized that there are thousands (of unaccountable number) of strategies that could make education sustainable through the various tiers of education, indigenous skill elements are crucial in the delivery of entrepreneurship education for sustainability. Blending the potentials of both systems (entrepreneurship education and indigenous skills) is tantamount to forging sustainable development for the future.
Analyzing Factors Affecting Tourism Sustainable Development towards Vietnam In The New Era (Published)
This empirical study was conducted by qualitative approach to study the influential factors such as environment, society, economics affecting to the tourism sustainable development for Vietnam in the new era. The author collected the experts’ opinions to discuss and presented scale to measure the above factors. Basing on this study, the future researchers can apply this to study by quantitative method to verify the reliability of the scale and test whether the three above factors and observed variables are grouped into each factor or there is other latent factor as well as tesing the reliability of the research model. In addition, the author suggested the policy makers, leaders of ministry and departments of culture, sports, and tourism to apply this study to plan and implement policies to develop Vietnamese tourism in the context of international integration as well as satisfy the tourists coming to Vietnam.
Chinese Investments in Africa and the Politics of Unsustainability: A Case Study of the Kenya’s Standard Gauge Railway (Published)
Chinese FDIs into Africa have been on an upward trend for the better part of 21st Century and are ubiquitously spread all over the continent. Certainly, the investments have not been devoid of both the positive and negative impacts but most importantly, debate on the sustainability [or otherwise] of these investments rages. In fact, there is an emerging but inimitable view that the claim that the investments are unsustainable is skewed in favor of the westerners, who are also keen on locking in investment opportunities in Africa. This, therefore, does not rule out the fact that global or at least local politics do on occasion, play a role in shaping debates meant to depict Sino- Afro FDIs as habitually unsustainable. Notably, bad politics, especially in Africa, hold the potentiality of suppressing development. To prop up this hypothesis, the paper delves into the Chinese built Kenya’s SGR- a mega project that was on the brink of collapse after a politically instigated civil case seeking to stop it was filed. Ultimately, the court’s ruling on the matter, Parliamentary Committee Report on the project and a host of existing literature has ably debunked a politically initiated myth that Chinese investments in Africa customarily thrive on inaptness.
National Security Challenges and Sustainable Development in Nigeria: A Critical Analysis of the Niger Delta Region (Published)
Nigeria has on daily basis experienced an upsurge of activities that threatens and endangers its national security. In recent times, the Nigerian nation suddenly metamorphosed into an abode of insecurity. The Niger Delta region which is the centre of Nigeria’s oil wealth has been the scene of protest, conflict and violence. Despite its abundant oil wealth, there has been unimaginable level of poverty, unemployment, inequality, poor infrastructure, lack of social amenities and negligible development in the region. In view of this scenario, the paper basically analyses and ascertains the impact of national security challenges on sustainable development in Nigeria with a particular focus on the Niger Delta region and the responses by successive governments in tackling them. Findings from the paper reveal among others that, the security challenges in Nigeria have long historical antecedence and the crises and conflicts in the Niger Delta region are the consequences of several years of exploitation, neglect and deliberate abandonment of the region which is the economic base of the nation, by successive governments and oil multinationals. The paper therefore concludes and recommends amongst others, the formulation and effective implementation of policies capable of addressing the root causes of insecurity in Nigeria and that more efforts should be made by the federal government and oil companies to improve the quality of human lives in the region and the nation at large. Qualitative and descriptive methods of data analysis were adopted for this study. The paper used secondary data in which conclusion and recommendations where derived.
In today’s Architectural practice, there is a struggle to find the ways to balance or harmonize environmental technology, protection of resources and aesthetic content. And the world has witnessed some level of significant industrial and technological revolution. The revolution, despite its acclaimed benefits to humanity has resulted to a worrisome level of interaction with our environment. . One point of a great concern, with regard to the eco-system, is that as the global greenhouse gas level continue to rise, the planet’s temperature with corresponding rise, resulting in the melting of the ice caps and seriously altering global weather conditions. Current estimates calculate that the world built environment account for approximately one third of all global greenhouse gas (GHG) emissions whilst consuming 40% of the world’s energy. However, the challenge facing environmental architecture is meting the increasing demand for revolutionary architectural solutions while mitigating its impact on the eco-system. The aim of this paper therefore, is to critically review current ecologic design concept/environmental technology using secondary and primary data. The effect of the built environment on the co-system which has resulted in consistent rise in global temperature in the past three decades was accessed. The paper recommends adopting more eco-friendly design approach, passive design methods and use of renewable energy source amongst others as key for achieving eco-friendly building. Finally we conclude that moving from a sectional prism of viewing environmentalism largely driven by sectional issues involving pollution, resources and biodiversity to a more holistic view point that recognizes the inherent interdependence of all life systems is the right way forward and we therefore call on Architects to embrace it.
There are many challenges affecting how we can better achieve the sustainable development goals (SDGs). Since the factors that affected our poor performance during the MDGs which include unmanageable population, pervasive poverty, ignorance and superstition, religious dogmatism, corruption and economic mismanagement, lack of political will, authenticity of collected data are still largely with us in Nigeria. Apart from those issues pertaining to Nigeria, we need to be able to manage some existing global threats to sustainable development. These threats include the continuous advancement towards finding or making more potent biological, chemical, nuclear, cyber and other weapons of mass destruction. United Nations need to improve on legislation to prevent these proliferations and also improve on how to coordinate scientific efforts towards better achievement of the Sustainable Development goals. Finally the importance of education in its entire ramification was identified as key to achieving the SD goals better.
Human activities represented in industrial and technological revolution led to the increase of emissions of warming gases and their concentrations in the atmosphere. This increase caused the phenomenon of greenhouse gases and the rise of earth temperature over its natural rates as a result of the increase of absorption rate of infra-red rays, which led to the climate change of the earth. These gases are carbon dioxide, methane and nitrous oxide (PFcs ,HFcs, and SF6. Many studies dealt with natural and reviving environment and its relation with climate change. These studies have increased much in the last 5 years and they led to more confidence in the relation between warning phenomenon and its impact on the national economies. They confirmed that there is a high degree of certainty for the present regional changes in temperatures. The impact of these changes was quite clear on many physical reviving systems because of warming phenomenon. This research dealt with studying the different impact of climate on sustainable development in the Arab world. It set up a policy for adaptation to or mitigation of climate changes to achieve sustainability in development, through which we can preserve the environment and achieve development. The research is based on the realistic and Descriptive analysis to identify the nature of the relation between climate change and sustainable development in the Arab world. Besides, the research used the adjusted net saving rates which reflect the variability of sustainable development used by the World Bank to show environment deterioration and depletion in addition to the use of sustainability of development in the Arab world. we could find out that some countries achieved recent positive values and others achieved recent negative values. This shows that climate changes have negative impact on sustainable development operation in the Arab countries.
This paper is a contribution to addressing the challenge of underdevelopment in Nigeria using the tool of education. The researcher looked at education for sustainable development in Nigeria as a developing country. In recent times, there has been a paradigm shift in defining development and the way it is practiced. This paradigm shift is what has resulted in the adoption of Sustainable Development (SD) as a concept. Sustainable Development was highlighted in the Brunttand Report, at the Stockholm Conference of 1972 and more recently, in Paris, France where over 169 countries adopted the 17 Sustainable Development Goals (SDGs) as a working document. All over Nigeria, there are rumours and evidence of failed leadership characterized by dwindling educational, economic, social and political fortunes. All these problems are as a result of the inability of the leadership to plan successfully for development using appropriate educational tools. It is the opinion here that, Education for Sustainable Development (ESD) can function to educate, train and undertake research to contribute to the sustainable development of the Nigerian Society. For instance, such education can provide the citizens with skills, perspectives, values and knowledge to live sustainably in their communities. It can also produce leaders who manage the affairs of government and private sector industries to constitute the stake holders of sustainable development. To function properly in this regard, Education for Sustainable Development (ESD) should grow from a variety of sources and be delivered through casual, informal, non-formal and formal strategies. In order to achieve these therefore, the paper recommends among other things that there should be a reorientation of existing education at all levels to include principles, skills, perspectives and values of sustainable development. That formal, non-formal informal and casual education for knowledge, attitude and skills for poverty alleviation and human development be promoted.
Human Resources and Strategic Management for Sustainable Development in Nigeria: Akwa Ibom State Experience (Published)
Human resource and strategic management is one of the most important requirements for the sustenance of an economy, whether at micro or macro levels. It is a must for any society, country or even enterprise that wishes to survive under complex challenges of a dynamic as well as globalized world. The objective of this study was to examine human resources and strategic management for sustainable development in Nigeria drawing specifically from Akwa Ibom State experience. The study adopted a historical and descriptive research drawing data mostly from secondary sources. The study revealed that Akwa Ibom state government is committed to training its workforce in the critical areas of need such as science, technology and engineering as a core area for sustainable development. The study further revealed that where human resources capital are not strategically managed, it would stalled any meaningful development in the state. The study therefore recommended that the training and retraining of workforce in the state should be focus mostly on the critical areas of science, technology and engineering as against the present emphasis on general administration. Also, the workforce so train should be strategically managed to enhance sustainable development in the state.
Global economy is witnessing a steep in recession and the effect permeates all sectors of the society. Libraries and particularly public libraries are vulnerable to these changes in world economy because of greater reliance on public funding which makes them easy targets for information resource budget cuts, layoffs, foreclosures and job freezes. An investigation into the position of public libraries in this credit crunch stirs up a pragmatic mix of tension between decrease funding in the face of overall cut in public expenditure and increase demand for library services forcing staff to develop new strategies with very limited resources to respond to the information needs of people during recession and explore means to buffer the financial storm. In Nigeria, public libraries suffer chronic neglect which impairs them to display the librarian’s axiom characterized by decrease funding and increased usage in times of fiscal crisis. This paper recommends a redirection of government policy towards the sustenance of public libraries even during recession and a retooling of library human resources for better value.
As the traditional role of corporate entities have been challenged by an increased number of demands from society, organizations roles are no longer limited to generate profits by supplying products or services. Instead, they are expected to play the role of responsible co-citizens of the community, taking social and environmental responsibility for the consequences of their actions. Implementing sustainable practices into business strategies is considered beneficial for both organizations and society, as it brings organizations opportunities for growth and development, as well as a more sustainable future for society. More so, the success or failure of any business is said to rests in part on the nature and types of marketing strategy they employ.A cross-sectional survey design was put in place for the study. The unit of analysis was organizations while the owner/managers of SMEs were the respondents. Systematic, simple random and snowbell sampling techniques were employed to collect the needed data for the study. A sample size of 200 SMEs covering all sectors that exist in the study area was drawn from a population of 522 SMEs. Inferential statistics was used to empirically and statistically analyze the data collected for the study with the aid of Statistical Package for Social Science (SPSS) version 20. Regression analysis was used to test the hypotheses. The study revealed that a positive relationship exist between Customer Relationship Management (CRM) and Sustainability Marketing (SM) and the relationship is statistically significant (p<0.05).Also, it shows that a positive relationship exist between Sustainability Marketing (SM) and Competitive Advantage and the relationship is statistically significant (p<0.05.It was recommended that SMEs operating in the Nigerian market should endeavour to communicate sustainable practices strategies internally in order to form effective sustainability strategies in all business decisions.
Business Education: An Indispensable Tool for Achieving Sustainable Development in the South-East States of Nigeria (Published)
The study was carried out by the researchers in the South East States of Nigeria to determine how business education could be an indispensable tool for achieving sustainable development. A survey research design was used for the study. The population comprised 46 business educators teaching in public universities in the South East States of Nigeria. A self-structured questionnaire developed by the researchers and carefully validated by the experts in the Faculty of Education of Enugu State University of Science and Technology was used for data collection. Mean and Standard deviation were used to answer the two research questions that guided the study while t.test hypothesis was used to test the hypotheses at 0.05 level of significance. The result of the study showed that business education programme is an indispensable tool for achieving sustainable development in the South East States of Nigeria because it provides the needed manpower required in industries. The study equally revealed that one of the strategies for achieving sustainable development in the South East States of Nigeria through business education programme is to ensure that the school curriculum is relevant to the skills required of industries. Moreover, there was no significant difference between the mean responses of male and female business educators on the relevance of business education in achieving sustainable development and the strategies for achieving sustainable development in the South East States of Nigeria. Based on the findings of the study, the researchers recommended among others that the curriculum planners should ensure that the school curriculum content is relevant to the skills required of industries because of the relevance of the programme in providing the needed manpower in industries.
Sustainability Filters and Enhancers towards Improving Intervention Functionality and Sustainable Advancement as a More Holistic Concept (Published)
In a continuously increasing population situation in the world, non-renewable resources cannot be used sustainably forever, no matter how much frugality is applied since the resources involved are finite and would be exhausted one day. This article proposed that at the micro level, interventions should be reviewed from two perspectives: conditional requirements, I have called sustainability filters and others that will enhance sustainability and functionality, which I have called sustainability enhancers and these issues be considered before intervention decisions are made. It also explained other interrelated factors to be considered at the macro level. The article tried to bring out the interrelationships between peace, development, violence and pollution and graphically showed that no sustainable development can take place without peace. Finally, the article proposed a shift from the constraining mentality, mainly based on population pressure and frugal utilization of resources/attitudes to greater focus on science and technology towards continual reduction of input requirements to achieving greater outputs and utilizing greener alternatives or renewable resources (sustainable advancement), so that the impending world population crisis can be better managed for posterity.