Abstract-This study examines the roles and efficiency of waqf properties, zakat, sadaqat, and public funding in transforming and alleviating poverty among the less privileged Nigerian Muslims in particular and Nigerians at large. Many Nigerians are living on less than two dollars per day based on the NAPEP submission in 2013. The majority of Nigerian Muslims are wallowing in abject poverty due to their insufficient and unsustainable means of income. The present situation of some Nigerian Muslims is worsening due to their financial constraints and poverty rate across the Nigeria as a result of uncontrolled corruption confronting the nation and unemployment. The conditions of Nigerian Muslims require urgent improvement financially, educationally, socially and spiritually. In light of this, how can the integration of waqf properties, zakat, sadaqat, and public funding play viable and commendable roles in poverty reduction among Nigerian Muslims. It will further discuss the collected charitable funds that can be used to empower Nigerian Muslim households. The paper concludes with a number of suggestions to remedy the situation and optimize these sources of funding.Index Terms-Nigerian muslims, poverty, waqf property, zakat, Sadaqat, public funding and household empowerment.
Abstract-This paper discusses the design of an efficient and optimal cooperation and unity among OIC countries for the integration of waqf properties and sadaqat and public funding as a viable instrument to alleviate poverty rate among Muslims globally. Poverty is rampant and common among Muslims globally and their financial constraints call for urgent, collective and concrete efforts among OIC countries to improve the conditions of poor Muslims regardless of their colour, gender, nationality, and sect since Islam simplifies unity. The study analyses the types and nature of investment that can be invested in with integrated charities such as waqf properties, sadaqat and public funding to create employment in order to reduce the poverty rate in concerned and targeted nation. It will further analyze how the financial status of Muslims can be improved.
The Nigeria agricultural sector is faced with many unprecedented problems including loss of focus, abandonment, and inadequate motivation to farmers. This shocking situation has deprived Nigerians of abundant food at affordable prices. In addition, employment in this sector is at an all-time low. The root cause of this problem is the complete abandonment of the sector by both past and present governments. Though Nigeria introduced agricultural programs such as Operation Feed the Nation, however, the outcome has not been impressive. The purpose of this research is to examine the possibility of transfer of funds from waqf institutions in Malaysia to institutions in Nigeria. The agricultural commercialization of cash waqf between Malaysia and Nigeria would not only ensure food security but also employment and productive use of idle land. While existing literatures have focused on the transformation of the poor, there is a dearth of study that analyses institutional transfer of funds for boosting agricultural studies from one country to the other. The findings show that the waqf institution can play an important role in building a good relationship between one country and the other, create jobs, economically transform impoverished youths, and enable the elderly. Nigeria excelled in agricultural activities in the sixties and seventies before the sector was neglected due to the discovery of crude oil. Furthermore, the restoration of past glory is ensured as well as the bridging of the gap between the urban and rural dwellers. This paper employs a qualitative approach and survey of literature. The paper suggests that through this approach, social vices among unemployed youths will be drastically reduced in the society. Index Terms-agriculture, poverty, employment, waqf institution, cash waqf on the Nigeria economic development," World Review
Cash Waqf is a form of Islamic endowment that has enormous un-utilized potential for its application in fulfilling the unmet social needs of the community. One such need is for the establishment of more effective schemes to alleviate the struggles faced by widowed women such as poverty, unemployment, and lack of support. The objective of this paper is to examine how Cash Waqf can be channelled into various mediums, instruments, and projects that will assist in empowerment and improvement of needy widows and their dependent children. The research uses a qualitative approach to examine the applicability of Cash Waqf funds for this purpose and presents a case for innovative avenues through which Waqf funds can be effectively mobilized towards this end. The paper proposes strategies through which Cash Waqf can be used for the creation of resources and tools for empowerment of widowed women such as through educational funds, creation of employment opportunities, and provision of tools for entrepreneurial activities.
Presently, there is little focus on the contractual agreement, particularly on the production sharing agreement by the International Oil Companies in the exploration of petroleum resources of developing countries. The primary objective of this paper is to critically explore the contract structure of production-sharing agreements by International Oil Companies in the exploration and development of petroleum resources in developing countries. Content analysis was used as the methodology of the study after examining several literatures. The findings indicate that the contract structure of the production sharing agreement (PSA) between National Oil Companies (NOC) and International Oil Companies (IOC) plays a significant role in the cost and risk of exploration and development of oil. In addition, it is noted that the joint committee of the NOC and IOC plays a paramount role in monitoring the operations of PSA between the NOC and IOC. Hence, from the gross oil production, the NOC gets its share as profit while IOC gets its share income tax. As an instrument of contract structure in the oil and gas sector, PSA needs further entrenchment between IOC and NOC to avoid likely issues that can emanate between the two parties in the face of current developments.
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