Economic Diversification in Nigeria: Any Role for Solid Mineral Development?

Ayodele, Olumide S.; Akongwale, Sabastine; Nnadozie, Udefuna Patrick

doi:10.5901/mjss.2013.v4n6p691

Cited by 12 publications

(6 citation statements)

References 3 publications

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“…From the analysis, the study found that non-oil gross domestic product, non-oil export and investment impacted positively on economic growth, but it was only the impact of non-oil gross domestic product was statistically significant within the period of analysis. This finding corroborates the outcomes of studies (Ayodele et al, 2013;Eko et al, 2013;Evbuomwan, 2016), that increased non-oil output is critical in the diversification of the Nigerian economy. It means, therefore, that any policy aimed at diversifying the economy must consider avenues for increasing productivity in the other sectors of the economy.…”

Section: Discussion Of Findingssupporting

confidence: 89%

“…In another study, Ayodele, et al (2013) identified the failure of past government solid mineral policy as well as previous government involvement in solid mineral exploration, as major setbacks in the growth and development of the solid mineral sector. He, therefore, suggested government action in the form of creating a conducive and socioeconomic environment which would facilitate both domestic and foreign investment in the solid minerals sector.…”

Section: Empirical Studiesmentioning

confidence: 99%

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Diversification and Economic Growth in Nigeria (1981–2016): An Econometric Approach Based on Ordinary Least Squares (OLS)

Owan

Ndibe

Anyanwu

2020

EUROPEAN J SUSTAINAB DEV

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Economic diversification has been the glamour of successive administrations in Nigeria, especially amidst the dwindling oil-revenue in recent years, which has resulted from the fluctuations in world crude oil prices. This study aims at investigating the impact of diversifying the economy on the economic growth in Nigeria. Secondary data on GDP growth rate as a proxy for economic growth, non-oil GDP as a proxy for GDP diversification, non-oil export as a proxy for export diversification, investment and exchange rate, between 1981 and 2016, were adopted in the study. An econometric approach of Ordinary Least Squares (OLS) was adopted to empirically analyze the collected data and the result revealed that non-oil gross domestic product impacted positively and significantly on economic growth while exchange rate had an inverse but significant nexus on economic growth in Nigeria, within the period covered in the study. However, non-oil export and investment impacted positively but insignificantly on economic growth in Nigeria. The study recommends the encouragement of increased productivity in the real sector as well as the adoption of stable and favourable exchange rate policies by the government in order to accelerate economic growth in Nigeria.

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Section: Discussion Of Findingssupporting

confidence: 89%

Section: Empirical Studiesmentioning

confidence: 99%

Diversification and Economic Growth in Nigeria (1981–2016): An Econometric Approach Based on Ordinary Least Squares (OLS)

Owan

Ndibe

Anyanwu

2020

EUROPEAN J SUSTAINAB DEV

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“…Similarly, it has been established that non-agricultural activities such as small-scale stone quarrying has the potentials of creating employment to 80% of the African population, as well as income to 30-50% of households in Sub-Saharan Africa and Asia [2]. However, inspite of the critical role that smallscale stone quarrying plays in the socioeconomic development of nations, the discovery and exploration of crude oil in Nigeria has atomized other important sectors of the Nigerian economy such as solid minerals with attendant declined contribution to Gross Domestic Product from 5.62% in 1980 to 0.16% in 2007 [3,4]. As a matter of fact, with the Nigerian economy coming out of recession and the clamour to diversify the economy becoming the new mantra of President Buhari's administration, preliminary observations show that youths in Zamfara State have keyed into this new agenda.…”

Section: Introductionmentioning

confidence: 99%

The Effects of Small-scale Stone Quarrying on Poverty Reduction among Youths in Zamfara State, Nigeria

Targba¹,

Dajo²

2021

AJAEES

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The paper examined the effects of small-scale stone quarrying on poverty reduction among youths in Zamfara State. The paper is based on the argument that small-scale stone quarrying has the potentials to reduce poverty in low income settings. Zamfara is one of the poorest states in Nigeria where youths are engaged in small-scale quarrying. The paper examined the extent to which small-scale quarrying has been able to reduced poverty among youths in the State. The sample size of the study comprised of 400 respondents. Structured interview was used as the primary instrument of data collection. Purposive sampling techniques was used to select quarry sites while simple random sampling technique was used to select respondents for the study. Data collected was presented in tables and percentages for better understanding. The outcome of the study revealed that youths between ages of 26-35 years were actively involved in small-scale stone quarrying in Zamfara State. The study found out that small-scale stone quarrying had a positive effect on poverty reduction among youths in Zamfara State. This is because after joining small-scale stone quarrying, majority of youths had improved access to food, healthcare facilities, housing, sleeping materials, clothing and ownership of means of transportation. The major factors limiting youth involvement in small-scale stone quarrying were lack of modern quarrying equipment, absence of personal protective gadgets and ignorance about government regulations in the mining industry. The study therefore recommends that government should assist quarry workers with modern quarry equipment, personal protective gadgets and sensitization on government regulations in the mining industry.

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“…Nigeria was reported the largest producer of columbite at a time and the sixth largest producer of cassiterite at that time. Sixty minerals were estimated to be deposited on the African soil while Nigeria is endowed with forty-four of these sixty [1]. However, with the discovery of crude oil, less attention was paid to the solid mineral sector and the industry has since being in the state of comatose.…”

Section: Introductionmentioning

confidence: 99%

“…However, with the discovery of crude oil, less attention was paid to the solid mineral sector and the industry has since being in the state of comatose. The effect of the neglect of the solid mineral sector was not that felt until recently when the revenue from the crude oil plummeted after a drastic fall in the selling price of Brent crude [1].…”

Section: Introductionmentioning

confidence: 99%

Mineralogical Study of Pingel-Bauchi Malachite Ore

2018

ASETH-18,ACABES-18 &Amp; EBHSSS-18 Nov. 19-20 2018 Cape Town (South Africa)

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Occurrences of over 44 economic minerals has been reported in Nigeria including copper ores found in Bauchi and Zamfara states. Now that the Nigeria petroleum industry which is the mainstay of her economy is experiencing downturn due to the global instability in oil price, it hence become imperative to diversify the economic to solid minerals particularly in the area of value addition. This research work aims at characterizing the Pingel-Bauchi malachite ore in order to determine the mineralogical assemblage, the chemical composition and the micrograph of the minerals. For this purpose, elemental analysis, chemical analysis, ore microscopy, x-ray diffractometry and scanning electron microscopy were carried out on the Pingel-Bauchi malachite ore. The result of the optical and scanning electron microscopy reveal that the Pingel-Bauchi malachite ore occur in a coarse grain locked in a porphyritic fine grain alumina and silica. It was observed that Pingel-Bauchi malachite ore contain 19.8wt% Cu which is above 0 -2.9wt% Cu which is adjudged to be the minimum copper content for economic extraction of copper ores. It was also observed that the ore contains 3.64wt% iron.

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Economic Diversification in Nigeria: Any Role for Solid Mineral Development?

Abstract: For over four decades, the Nigerian economy has mostly depended on proceeds from

Cited by 12 publications

References 3 publications

Diversification and Economic Growth in Nigeria (1981–2016): An Econometric Approach Based on Ordinary Least Squares (OLS)

Diversification and Economic Growth in Nigeria (1981–2016): An Econometric Approach Based on Ordinary Least Squares (OLS)

The Effects of Small-scale Stone Quarrying on Poverty Reduction among Youths in Zamfara State, Nigeria

Mineralogical Study of Pingel-Bauchi Malachite Ore

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