Nigerian Economy: Business, Governance and Investment in Period of Crisis

Abdullahi, Shafiu Ibrahim

doi:10.2139/ssrn.3310120

Cited by 6 publications

(4 citation statements)

References 21 publications

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“…The protection of workers' rights amid economic transformations is paramount. As Nigeria seeks to diversify its economy and attract foreign investment, there is the risk that labour rights could be sidelined in the quest for economic competitiveness (Abdullahi, 2018). Ensuring that workers' rights are upheld during this transition is crucial to maintaining social cohesion and securing the social contract between the state, the labour force, and the private sector.…”

Section: Challenges and Prospectsmentioning

confidence: 99%

Historical Perspective of Industrial Relationship in Nigeria

H. B.,

O. Z.

2024

British Journal of Education, Learning and Development Psycholo

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This study provides a comprehensive examination of the evolution of industrial relations in Nigeria, tracing its historical development from the colonial era through post-independence fluctuations, military rule, structural adjustments, and contemporary global influences. It highlights the interplay between colonial legacies, nationalism, authoritarian governance, economic liberalisation, and globalisation in shaping Nigeria's labour landscape. Analysing the various eras—Colonial, Post-Independence, Military Interregnum, Structural Adjustment, Return to Democracy, and Contemporary Global Influences—the study underscores the dynamic interactions among government policies, employer strategies, labour union activities, and international forces. It delves into the challenges of political interference, corruption, legal inadequacies, global labour standards, and economic transformations. The study emphasises the importance of resilience, adaptability, and collaborative dialogue in navigating the complexities of industrial relations towards ensuring labour equity and economic progress in Nigeria's continuously evolving socio-economic.

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Section: Challenges and Prospectsmentioning

confidence: 99%

Historical Perspective of Industrial Relationship in Nigeria

H. B.,

O. Z.

2024

British Journal of Education, Learning and Development Psycholo

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“…Between 1950s and 1960s, 3%-4% annual output growth rates for agricultural and food crops were achieved (Osuntogun, Edordu, & Oramah, 1997). The oil boom of the 1970s was the major culprit in the decline of agriculture as major earner for Nigerian economy (Abdullahi, 2018). But, from the early 1980s, the price of oil began to fall leading to various economic crisis for Nigeria.…”

Section: Introductionmentioning

confidence: 99%

International Trade and Export Dynamics in Nigeria: An ARDL Vector Error Correction Analysis

Shuaibu¹,

Adamu²,

Abdullahi³

et al. 2022

JHASS

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Production patterns around the world have been significantly affected by international trade. Hence, countries have taken advantage of trade to produce for export what is not required by the domestic economy. This explains the large export dependence nature of some economies around the world. Global trade is associated with increase in worldwide standards of living because it sets in motion a worldwide division of labour and materials. This paper measures the factors that influence export in Nigeria. It measures the influence of factors such as exchange rate, inflation, interest, domestic saving, financial development, domestic credit to private sector, trade openness, per capita income, Foreign Direct Investment (FDI), gross capital formation, national debt, agricultural output, manufacturing, electricity supply, physical capital and government expenditure. The paper used ARDL Error Correction Model for the analysis of the data. Data was collected for the period 1989 to 2019. The results of the analysis show that saving, interest rate, domestic credit, trade openness, per capital income, agriculture and manufacturing are favorable to export in Nigeria. But, inflation, exchange rate, FDI and government expenditure are not favorable to export. The negative relationship with FDI may be as a result of the fact that most FDI coming to Nigeria are not going to the export sector. Government expenditure also may not be targeting the export sector, instead focusing on the domestic economy. The paper recommends that Nigerian government shall further support domestic saving to private sector, provide more credit to the export sector and adopt policies that boost trade openness. In addition, government shall further develop agricultural and manufacturing sectors that serve as the core of Nigerian export sector. Nigeria government shall very well manage such macroeconomic variables as interest rate, inflation and exchange rate to ensure that they are not harmful to export.

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“…Despite the billions of Dollars in annual oil revenue, Nigerian governments have failed to use the resources effectively to develop other areas of the economy such as manufacturing, information technology and agriculture. The liberalization of Nigerian economy by Obasanjo and Jonathan governments have not achieved the desire effects, instead resulting in more unemployment, poverty and made Nigerian economy more import depended (Abdullahi, 2018). The nature of relationship that exist between output growth and unemployment has been studied on and off for decades.…”

Section: Introductionmentioning

confidence: 99%

“…In Nigerian economy, earnings from crude oil have amounted to over a trillion Dollars in the past three decades. On the state of Nigerian economy, for example, Abdullahi (2018) observed that -Inflation rate rises and falls like growth in the economy. As a result, the economy remained heated causing frictions.…”

Section: Introductionmentioning

confidence: 99%

Economic Growth and Labour Market Dynamics in Nigeria: Further Evidence from ARDL Bound Testing

Shuaibu¹,

Abdullahi²,

Yusuf³

et al. 2021

SJEF

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Recently the phenomenon of jobless growth has become common, defying the famous Okun law which predicted increase in job with increase in economic growth. Many factors have been advanced as explanations for this, most prominent of which are changes in the labour market and lopsidedness in economic growth. This paper is an attempt to measure labour market dynamics in Nigeria focusing on the relationship between economic growth and unemployment. The paper used data from 1991 to 2020 and employed GMM and ARDL models to analyze the data. Unlike the Okun law which prophesies negative relationship between unemployment and economic growth, the result from this analysis show that there is positive relationship between unemployment and economic growth, confirming the existence of the phenomenon of jobless growth in Nigeria. The paper recommended structural changes in the economy and the labour market.

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Nigerian Economy: Business, Governance and Investment in Period of Crisis

Cited by 6 publications

References 21 publications

Historical Perspective of Industrial Relationship in Nigeria

Historical Perspective of Industrial Relationship in Nigeria

International Trade and Export Dynamics in Nigeria: An ARDL Vector Error Correction Analysis

Economic Growth and Labour Market Dynamics in Nigeria: Further Evidence from ARDL Bound Testing

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