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Water Resources Accounting and Nigeria's Economic Advancement

Author

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  • Cordelia Onyinyechi Omodero
  • Amah Kalu Ogbonnaya
  • Azubike-Joseph Uche Belonwu

Abstract

Water resources accounting is presently a universal challenge due to the high rate of water contamination and other discharges that put nations at risk of water scarcity if precautionary measures are not taken on time. All needed government interventions to reduce the risk of water scarcity is dependent on the extent of water resource accountability available in the country. This paper examines the contribution of water resources accounting to Nigeria¡¯s economic advancement. The data employed span from 1981-2017 and have been collected from the CBN Statistical Bulletin, 2017 edition. Ordinary Least Squares technique is used to analyze the date and the result indicates that water resources accounted for, have strong and significant positive impact on the RGDP. The findings also reveal that water resources are estimated to contribute a total of 72.6% variation in the RGDP between the periods from 1981 to 2017 in Nigeria. Therefore, the study recommends sufficient training and empowerment for all agencies responsible for data gathering of water resources. This will enhance quality water resources¡¯ accountability. Policy makers should encourage all forms of water resources accountability and management to sustain the economy by liaising with international bodies and getting updates on global best practices in this area.

Suggested Citation

  • Cordelia Onyinyechi Omodero & Amah Kalu Ogbonnaya & Azubike-Joseph Uche Belonwu, 2019. "Water Resources Accounting and Nigeria's Economic Advancement," Applied Finance and Accounting, Redfame publishing, vol. 5(1), pages 58-67, February.
    • Handle: RePEc:rfa:afajnl:v:5:y:2019:i:1:p:58-67
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    References listed on IDEAS

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    More about this item

    Keywords

    water resources; accounting; management; economic advancement; Nigeria;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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