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11. Alternative Financing for Infrastructural Development in Nigeria

Author:
Uzochukwu Amakom and Queeneth Ekeocha
Publication Date:
10-2017
Content Type:
Working Paper
Institution:
African Heritage Institution (AfriHeritage)
Abstract:
Infrastructure development is very critical to achieving human capital development in any society. The economic impact that infrastructure improvement has on any nation building cannot be over-emphasized as the growth of any country’s economy hugely depends on the status of her infrastructure. The dearth of needed infrastructure in a given society places serious limitation on human capital development. The major objective of this study is to critically analyse different and alternative scenarios that Nigeria as a country can utilise to finance infrastructure across the country. Scenarios to be analysed include: loans (domestic and foreign); as well as Public Private Partnership (PPP). This study is a desk research. All information and data presented and analyzed are secondary in nature from different national and international sources. These sources include: The Central Bank of Nigeria; The Budget Office of Federation; Debt Management Office (DMO), African Development Bank (AfDB), The World Bank Development Indicators (WDI), the Central Intelligence Agency – The World Factbook, relevant extant Laws and Policies, newspapers articles, studies by other authors on the subject, etc.
Topic:
Economics, Infrastructure, Sustainable Development Goals, Roads, Public-Private Partnership, and Nation-building
Political Geography:
Africa and Nigeria

12. Democratic Governance and the Frightening Impact of Corruption in Contemporary Nigerian Society

Author:
Christian Chima Chukwu
Publication Date:
03-2017
Content Type:
Journal Article
Journal:
Studies of Changing Societies Journal (SCS)
Institution:
Studies of Changing Societies Journal (SCS)
Abstract:
This work examines democratic governance and the frightening impact of corruption in contemporary Nigerian society in a bid to restore confidence in good governance and also improve the socio- economic development of the citizenry after fifty seven years of independence. Related literatures to the variables were reviewed including the adoption of the descriptive and content analytical method in the analysis of the secondary data in order to achieve the objectives of this study. Also, the social learning theory was employed as theoretical framework to find essence. Findings reveal that the phenomenon of corruption has evidently graduated beyond impunity, both in volume, scale, breadth, depth and has become a national cancer. In addition, the study notes that corruption has swallowed up Nigerian politicians into yet other webs of delusion, and deception such that the pursuit of corrupt practices by them, seem greeted with ovation. Aside this, the paper also highlights that since the mad rush for corrupt practices, especially amongst politicians seems impossible to abate, the alarming rate of vicious opulence which has engulfed the Nigerian nation clearly demonstrates naivety, desperation and un-Godly helplessness. Based on all these, the paper suggests that there is the urgent need to halt the hypocritical position in corruption cases involving high influential members of the government as well as the immunity covertly granted their cronies. The paper recommends that amongst other measures, government should not only be transparent in enforcing all relevant laws against corruption, but prosecute all those found culpable. Finally, Judicial Service Commission as autonomous body should halt the incessant dismissal of corrupt cases by judges on technical grounds, as well as continuing to beam its searchlight on all corrupt judicial officers.
Topic:
Corruption, Economics, Governance, Democracy, Financial Crimes, Transparency, and Judiciary
Political Geography:
Africa and Nigeria

13. Infrastructure Financing In Nigeria

Author:
Chukwuka Onyekwena, Precious Chukwuemelie Akanonu, and Anointing Ogie Momoh
Publication Date:
12-2016
Content Type:
Working Paper
Institution:
Centre for the Study of the Economies of Africa (CSEA)
Abstract:
Similar to most sub-Saharan African (SSA) countries, Nigeria has a huge infrastructure deficit which considerably limits efforts towards achieving inclusive growth, sustainable development, and poverty reduction. With infrastructure stock estimated at 20-25 per cent of Gross Domestic Product (GDP), Nigerias infrastructure stock is still significantly lower than the recommended international benchmark of 70 per cent of GDP. The 2014 National Integrated Infrastructure Master Plan (NIMP) estimates that a total of US$ 3 trillion of investments, or US$100 billion annually, is required over the next 30 years to bridge Nigerias infrastructure gap. In particular, the Plan estimates that Nigeria will have to spend an annual average of US$ 33 billion infrastructure investments for the period 2014 -2018. This means that Nigeria will have to more than double its spending on infrastructure from the current 2-3 per cent of GDP to around 7 per cent to make appreciable progress in infrastructure development over the next three decades.
Topic:
Economics, Infrastructure, GDP, Finance, Economic Growth, Economic Development, and Financial Institutions
Political Geography:
Africa, Nigeria, and Sub-Saharan Africa

14. Portfolio Diversification Between Developed And Less Developed Economies

Author:
Tirimisiyu F. Oloko
Publication Date:
04-2016
Content Type:
Working Paper
Institution:
Centre for the Study of the Economies of Africa (CSEA)
Abstract:
This study examines the hedging effectiveness of portfolio investment diversification between developed and developing economies; with focus on the Nigerian stock asset vis-à-vis the stock assets of the United States (US) and United Kingdom (UK). Its main contribution is in the analysis of optimal portfolio diversification using optimal portfolio weight (OPW) and optimal hedging ratio (OHR). Empirical findings show that the OPW and OHR are low, which indicates impressive potential gains from combining Nigerian stock assets in an investment portfolio with US and UK stock assets. In addition, exchange rate volatility is found to pose stern limitation on the potential benefits of this portfolio diversification arrangement. It is therefore recommended that the monetary authority in Nigeria should pursue policies towards reducing exchange rate volatility to the barest minimum. This will possibly attract more investors from developed economies who might be willing to combine Nigerian stock in their investment portfolio to minimize portfolio risk.
Topic:
Economics, Investment, Diversification, and Stock Markets
Political Geography:
Africa, United Kingdom, Nigeria, and United States of America

15. Curbing Violence in Nigeria (II): The Boko Haram Insurgency

Publication Date:
04-2014
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Boko Haram's four-year-old insurgency has pitted neighbour against neighbour, cost more than 4,000 lives, displaced close to half a million, destroyed hundreds of schools and government buildings and devastated an already ravaged economy in the North East, one of Nigeria's poorest regions. It overstretches federal security services, with no end in sight, spills over to other parts of the north and risks reaching Niger and Cameroon, weak countries poorly equipped to combat a radical Islamist armed group tapping into real governance, corruption, impunity and underdevelopment grievances shared by most people in the region. Boko Haram is both a serious challenge and manifestation of more profound threats to Nigeria's security. Unless the federal and state governments, and the region, develop and implement comprehensive plans to tackle not only insecurity but also the injustices that drive much of the troubles, Boko Haram, or groups like it, will continue to destabilise large parts of the country. Yet, the government's response is largely military, and political will to do more than that appears entirely lacking.
Topic:
Development, Economics, Islam, Armed Struggle, Insurgency, and Infrastructure
Political Geography:
Africa and Nigeria

16. African Perspectives on Sovereign Debt Restructuring

Author:
Domenico Lombardi, Skylar Brooks, and Ezra Suruma
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
On August 7 and 8, 2014, CIGI's Global Economy Program co-hosted a conference with Uganda Debt Network to discuss African perspectives on sovereign debt restructuring. The proceedings, opened by the vice president of Uganda, took place in Kampala, and featured several distinguished participants — including current and former finance ministers and central bank governors, academics and practitioners, and civil society representatives — from Uganda, Liberia, Cameroon, Ghana, Nigeria, Zambia and Zimbabwe. Participants also came from civil society organizations and intergovernmental institutions representing broader groups of African countries or the continent as a whole.
Topic:
Debt, Development, and Economics
Political Geography:
Uganda, Africa, Liberia, Zimbabwe, Nigeria, Ghana, and Cameroon

17. Macroeconomic Impact of Capital Flight in Sub-Saharan Africa

Author:
John Weeks
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
African Economic Research Consortium (AERC)
Abstract:
This paper assesses the impact of capital flight on growth in thirty-one sub-Saharan African countries. It first considers the “macro fundamentals” hypothesis that capital flight would be lower in a country whose government adhered to “sound” macroeconomic policies. Analytical considerations fail to support this hypothesis. Second, it develops a growth estimating equation derived from the Harrod-Domar framework. The growth estimations support the conclusion that capital flight had a major impact on growth over the last three decades, 1980–2010. The negative impact was greatest for the petroleum-exporting countries and those affected by internal conflict, but it was also substantial for the other countries, with a few exceptions.
Topic:
Economics, Markets, Global Markets, Economic Growth, Economic Policy, Macroeconomics, and Capital Flight
Political Geography:
Africa, Sudan, Nigeria, Angola, Chad, Cameroon, Global Focus, Gabon, and Republic of Congo

18. 2014 Global Terrorism Index

Author:
Institute for Economics and Peace (IEP)
Publication Date:
11-2014
Content Type:
Special Report
Institution:
Institute for Economics & Peace (IEP)
Abstract:
This is the second edition of the Global Terrorism Index (GTI) report which provides a comprehensive summary of the key global trends and patterns in terrorism over the last 14 years beginning in 2000 and ending in 2013. Produced by the Institute for Economics and Peace (IEP), the GTI is based on data from the Global Terrorism Database (GTD) which is collected and collated by the National Consortium for the Study of Terrorism and Responses to Terrorism (START). The GTD is considered to be the most comprehensive dataset on terrorist activity globally and has codified over 125,000 terrorist incidents. The report summarises trends in terrorism over time and analyses its changing patterns in terms of geographic activity, methods of attack, organisations involved and the national economic and political context. The index has also been compared to a range of socio-economic indicators to determine the key factors most closely associated with terrorism. In 2013 terrorist activity increased substantially with the total number of deaths rising from 11,133 in 2012 to 17,958 in 2013, a 61 per cent increase. Over the same period, the number of countries that experienced more than 50 deaths rose from 15 to 24. This highlights that not only is the intensity of terrorism increasing, its breadth is increasing as well. Terrorism is both highly concentrated as well as a globally distributed phenomenon. Over 80 per cent of the lives lost to terrorist activity in 2013 occurred in only five countries - Iraq, Afghanistan, Pakistan, Nigeria and Syria. However, another 55 countries recorded one or more deaths from terrorist activity.
Topic:
Economics, Terrorism, Taliban, Al Qaeda, Islamic State, Conflict, Risk, Boko Haram, and Foreign Fighters
Political Geography:
Pakistan, Afghanistan, Iraq, Syria, Nigeria, and Global Focus

19. New Meeting Note: Security and Development in the Sahel-Sahara

Author:
Mireille Affa'a-Mindzie
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
International Peace Institute (IPI)
Abstract:
After the severe twin crises that nearly brought Mali to its knees in January 2012, the country is gradually recovering from their debilitating consequences. In August 2013, Mali successfully elected its new president, Ibrahim Boubacar Keïta, thus putting an end to an eighteen-month-long transitional government that was put in place following the March 2012 coup. Even though the violence has abated and renewed hope seems to be in the air, the structural causes of the Malian conflict are still stubbornly present and their consequences are still being felt by neighboring Sahel countries that suffer from similar underlying ills. The situation in Mali and other concerned states in the region generated a renewed interest in the Sahel-Sahara region and in efforts to stabilize this region. This prompted the International Peace Institute, the Executive Secretariat of the Strategy for Security and Development in the Sahel-Saharan Areas of Niger (SDS Sahel Niger), and the Centre for Strategies and Security for the Sahel Sahara (Centre 4S) to convene an international seminar on security and development in the Sahel-Sahara on February 15 and 16, 2013, in Niamey, Niger.
Topic:
Security, Civil Society, Development, Economics, Peace Studies, and Foreign Aid
Political Geography:
Africa and Nigeria

20. HIV/AIDS Intervention Packages in Five Countries: A Review of Budget Data

Author:
Amanda Glassman, Denizhan Duran, Rachel Silverman, and Victoria Fan
Publication Date:
10-2013
Content Type:
Working Paper
Institution:
Center for Global Development (CGD)
Abstract:
More than ever, global health funding agencies must get better value for money from their investment portfolios; to do so, each agency must know the interventions it supports and the sub-populations targeted by those interventions in each country.
Topic:
Foreign Policy, Development, Economics, Health, Humanitarian Aid, and Health Care Policy
Political Geography:
India, Philippines, Ethiopia, and Nigeria