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Employment Generation Through the Development of Non-Oil Sector in Nigeria

Employment Generation Through the Development of Non-Oil Sector in Nigeria
Author: Elias A. Udeaja
Publisher:
Total Pages: 15
Release: 2019
Genre:
ISBN:

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A major characteristic of oil industry is that it is capital intensive, limiting its capacity to generate employment. It has been argued that economic diversification from oil to non-oil sector will create a veritable arena for employment generation and poverty reduction. This paper analyses the socio-economic conditions in Nigeria, identifies four priority sectors for the purpose of developing non-oil economy and proposes a development policy framework for creating income, reducing poverty and generating employment.


Nigeria - U.S. Trade Relations in the Non-Oil Sector

Nigeria - U.S. Trade Relations in the Non-Oil Sector
Author: Gbadebo Olusegun Odularu
Publisher: Universal-Publishers
Total Pages: 199
Release: 2008-11
Genre: Business & Economics
ISBN: 1599427036

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In as much as trade fosters economic development, it also exacerbates poverty, especially in the sub Saharan African (SSA) countries. Against this backdrop, this study will increase our understanding of the estimation of non-oil commodity trade flows between Nigeria and the U.S. More specifically, the study aims to analysing the impact of African Growth Opportunity Act (AGOA) on the U.S. imports of non-oil products from Nigeria. The research objectives are woven around the following questions: - What is the nature of Nigeria's and the U.S.'s foreign trade policies with particular reference to non-oil trade? - What are the patterns, magnitude, composition and trends in Nigeria-US non-oil trade? - Which economic sectors possess greatest potential for fostering trade in the non-oil sector between Nigeria and the U.S.? - What is the impact of AGOA on the diversification and growth of non-oil exports in Nigeria? This study adopts the difference-in-differences (DiD) as the research methodology. Within the Nigerian context, DiD intuitively compares the trends in imports of AGOA non-oil products before and after AGOA with the pattern of imports of non-AGOA non-oil products before and after AGOA, controlling for the timing of AGOA, import capacity and economic performance of both U.S. and Nigeria. Using the World Trade Organisation (WTO) Integrated Data Base (IDB), the empirical analysis reveals that AGOA non-oil products increased by as much as 182 percent with the implementation of AGOA, while the non-AGOA non-oil products fell by 76 percent. Conclusively, AGOA has had a considerably positive impact on the Nigerian non-oil sector at the general level. The policy implication of the empirical analysis is the need for the U.S. to expand the product coverage and opportunities of AGOA non-oil products in order for AGOA to achieve its objectives of using trade as a potent tool for promoting economic growth in SSA.


Putting Nigeria to Work

Putting Nigeria to Work
Author: Volker Treichel
Publisher: World Bank Publications
Total Pages: 300
Release: 2010-06-17
Genre: Political Science
ISBN: 0821380737

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Public debate in Nigeria on the country s progress since its return to democracy in 1999 has been dominated by two seemingly opposite themes. The first theme is the strong growth performance of the non-oil economy. This success has been marked by sharp increases in agriculture, trade, and construction and by the emergence of new industries in the financial, telecommunications, and entertainment sectors, supported by sound macroeconomic policies and structural reforms. The second, opposing theme is the seeming failure of Nigeria s much improved economic performance to reduce unemployment, especially among the young. Rising levels of unemployment have increased militancy among the young and impacted negatively on public order. 'Putting Nigeria to Work: A Strategy for Employment and Growth' looks at the ways in which Nigeria s improved economic performance has impacted the labor market. A number of relevant factors are carefully examined and analyzed, including industrial policy and the investment environment, the effects of restrictive trade policies on growth, and the ability of the technical and vocational education system to address the country s skills gap. The book proposes a strategy that will allow Nigeria to increase the availability of quality jobs, reduce rising youth unemployment, and sustain and further accelerate the country s economic performance and growth. At the core of this strategy are targeted interventions aimed at removing binding constraints to growth in sectors of the economy that are already growing fast, but have the potential to grow faster and have significant employment-creating potential.


Non-Oil Exports and Economic Growth In Nigeria

Non-Oil Exports and Economic Growth In Nigeria
Author: Victor Ijirshar
Publisher: LAP Lambert Academic Publishing
Total Pages: 140
Release: 2014-10-31
Genre:
ISBN: 9783659622878

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This is strictly an examination of the effect of non-oil export on economic growth of Nigeria. The basic aim is to examine the trend and composition of the non-oil export in Nigeria and investigate the extent of the contribution of non-oil export sector to the Nigerian economy. The study generate serious academic interest in evolving new methods and strategies needed in developing non-oil exports for higher productivity and efficient performance which in the long run will result to economic growth and development. Hence it evaluates the federal government incentives and schemes in promoting non-oil export trade promotion in Nigeria with focus on the immense derivable benefits from engaging in non-oil export and the resulting economic growth in Nigeria at aggregate level which are associated with the current international trends in global trade liberation. Virtually all the nations' foreign exchange was obtained from the exportation of oil products due to the economic boom in 1970s. Thus, it is pertinent in this study to discuss the causes and consequences of the neglect of the non-oil export in detail as well as trend examined since 1970 in order to note its growth.


Employment Generation in Nigeria

Employment Generation in Nigeria
Author: Nigerian Economic Society. Annual Conference
Publisher:
Total Pages: 384
Release: 2007
Genre: Job creation
ISBN:

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Exploring Entrepreneurial Management and Diversification for Sustainable Development in Nigeria

Exploring Entrepreneurial Management and Diversification for Sustainable Development in Nigeria
Author: John Ugoani
Publisher:
Total Pages: 9
Release: 2018
Genre:
ISBN:

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The exploratory research method was used and designed to explore the relationship between entrepreneurial management and diversification for sustainable development in Nigeria. Since the discovery of oil in Nigeria in the 1950s, attention has been directed away from other critical sectors of the economy. This omission gave rise to the situation where the oil and gas subsector contributes over 96 percent to the country's export earnings but without the sad side effects of unemployment and poverty. Entrepreneurial management is not limited to the private sector but embraces the heavy public sector industries; agriculture and manufacturing so as to enhance the chances of employment generation, poverty reduction and sustainable development in Nigeria. The combined contribution of agriculture and industries subsectors of about 47 percent, against 53 percent by services to the real GDP, explains the necessity for economic diversification. The success story of the Dangote Group in Nigeria is synonymous with entrepreneurial management and diversification, and this is the story of employment creation, innovation, managerial creativity, hunger and poverty minimization. This is the story the UN wants to hear towards achieving the 2030 SDGs target, because a situation of about 39 percent extreme poverty rate leaves much to be desired. Through empirical analysis the study found positive association between entrepreneurial management and diversification for sustainable development in Nigeria.


Nigeria

Nigeria
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 70
Release: 2007-10-23
Genre: Business & Economics
ISBN: 1451829051

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The staff report for the Fourth Review on Nigeria highlights developments under the Policy Support Instrument (PSI). Robust non-oil sector growth significantly strengthened fiscal and external positions, reducing inflation that surpassed the original program goals. Fiscal risks have increased in the short term because recent practices on the use of an oil price rule and oil savings, which have been important to macroeconomic performance, are being revisited. The government’s consensual approach within the framework of the constitution offers the prospect of a lasting solution.


Nigeria - Employment and Growth Study

Nigeria - Employment and Growth Study
Author: Weltbank
Publisher:
Total Pages:
Release: 2012
Genre:
ISBN:

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Since 1999, Nigeria has made significant progress in economic reform. Sound macroeconomic policies, combined with structural reforms aimed at increasing the supply responsiveness of the economy, ushered in sustained high growth, driven by the non-oil economy. The goal of this book is to shed light on the extent to which Nigeria's much improved economic performance has impacted the labor market, and to develop a growth strategy that could enhance the employment intensity of growth. The report consists of six chapters. Chapter one provides an overview of the book's main findings, reviews Nigeria's growth performance from 2001 to 2007, and addresses the question of the sustainability of that growth performance. Chapter two analyzes the evolution of the labor market since 1999. The analysis focuses on the share of the formal and informal sectors in employment; the development of incomes; and the unemployment rate. Chapter three addresses the question of what Nigeria could do to increase the availability of quality jobs and reduce rising youth unemployment. Chapters four discusses Nigeria's policy and investment environment. Chapter five proposes strategies for skills development; and Chapter six analyzes the effects of restrictive trade policies.


Entrepreneurship and Job Creation. A Panacea for Socioeconomic Development of Nigeria

Entrepreneurship and Job Creation. A Panacea for Socioeconomic Development of Nigeria
Author: Christopher Ohanyere
Publisher: GRIN Verlag
Total Pages: 19
Release: 2024-01-29
Genre: Business & Economics
ISBN: 3964873667

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Research Paper (postgraduate) from the year 2022 in the subject Economics - Job market economics, grade: A, University of Calabar (Faculty of Arts & Social Science Education), course: The Structure and Organization of Social Studies and New Education Initiatives, language: English, abstract: This paper explores the effectiveness of entrepreneurship in job creation, hence, underlining the importance of the MSMEs sub-sector in the socioeconomic development of the Nigerian economy. Nowadays, the burden of job creation is not solely placed on the shoulders of the government alone but, has become a joint-venture effort between the public and private sectors. On this premise, the paper seeks an enduring answer to this prevalent phenomenon in entrepreneurship development. So, the paper is divided into subheadings, covering the introduction, conceptual explications, theoretical discourse on MSMEs as the driving force of socioeconomic development, and the role of entrepreneurship in the socioeconomic development of Nigeria. The paper concludes by noting that, the transformation of Nigeria's education system into entrepreneurial-based is a way of empowering the young generations with practical skills that could help them become self-reliant (self-employed), thus reducing the increasing social vices and consequences of unemployment. Among others, it was recommended to incorporate entrepreneurship in our school curriculum where vocational subjects would become compulsory right from Upper Basic Education level through tertiary education level to train, prepare, and develop the economic mindset of the younger generations and decrease the high level of unemployment.