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Attaining Sustainable Growth in Nigeria: Any Role for Solid Mineral Development?

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  • Richardson Kojo Edeme
  • ThankGod Chibuzor Onoja
  • Dateer Dayi Damulak

Abstract

Using time series such as GDP per capita, solid minerals output, foreign trade balance, domestic interest rate, inflation, and gross domestic savings, for the period 1960-2015. the Linear Growth Regression model adopted for this study indicates that solid minerals positively impact on sustainable growth and is statistically significant. The study also found that solid mineral is highly significant but negatively related with foreign exchange due largely to illegal migration of mineral commodities across the borders of the country. In view of this, there is need for conscious inter-agency collaboration to track the volume of mineral resources illegally escaping the shores of the country without being accounted for. Besides, there should be more attention on developing the solid mineral sector to help insulate the economy from the vagaries of the present economic woes given the rising demand in solid mineral resources globally.

Suggested Citation

  • Richardson Kojo Edeme & ThankGod Chibuzor Onoja & Dateer Dayi Damulak, 2018. "Attaining Sustainable Growth in Nigeria: Any Role for Solid Mineral Development?," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 4(1), pages 105-110, March.
    • Handle: RePEc:khe:scajes:v:4:y:2018:i:1:p:105-110
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    References listed on IDEAS

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    3. J. M. Eyre & A. V. Agba, 2007. "Nigeria - An Economic Analysis of Natural Resources Sustainability for the Mining Sector Component," World Bank Publications - Reports 7941, The World Bank Group.
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    Cited by:

    1. Richardson Kojo Edeme & Nelson C Nkalu, 2019. "Predicting the Effects of Economic Diversification on Solid Mineral Development in Nigeria," Journal of Contemporary Research in Business, Economics and Finance, Michael Laurence, vol. 1(1), pages 56-61.

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    More about this item

    Keywords

    Solid minerals; sustainable growth; foreign trade balance; domestic interest rate; gross domestic savings; linear growth regression model;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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