Considering that the nigerian tax laws have witnessed significant changes. At the level of the individual, it implies increased skill and capacity, greater freedom, creativity, self discipline, responsibility and. Challenges to economic growth in nigeria michael amati jose ardavin jeanette fershtman 14 may 2004. The effect of merger and acquisition on the performance of. Ict facilitates students acquisition of skills and. However, one means of generating the amount of revenue for providing the needed infrastructure is through a well. This calls for early acquisition of ict skills by students, because the ability to use. Nigeria has overtaken south africa as the continents largest economy after it overhauled its gross domestic product data for the first time in more than two decades official figures for 20. Ict is a viable option for economic growth in nigeria. A company for the purpose of growth and development may take a decision to restructure its outlooks.
The study focuses on the impact of petroleum profit tax, company income tax, personal income tax, value added tax revenue on nigerias economic growth between 1980 and 20. Get free research paper on impact of information communications technology on the nigerian economic growth and development project topics and materials in nigeria. This study concluded that the resultant effects of external debt on economic development in nigeria are negative and significant. At the moment a merger is announced, securitiesmarket participants react with what information they have at hand. Data analysis shows that access to external finances strongly influence the economic development process of nigeria and other nations. People do hide under the cover of national interest to project and protect their own individual or group interest. It is also expected to serve as the basis of socio economic development in the locality. Pdf an empirical analysis of ict and economic growth in nigeria. This restructuring may be done not just on the outlook of the company but also on the operational capacity of the company. Foreign debt management and the development of nigeria. In this article, we would be exploring the legal framework of merger and acquisition in nigeria. Within the last ten years the term has become so popular and has been applied to so many.
The economic situation of nigeria nigeria is a monoeconomic nation with its economy heavily dependent on petroleum revenue which accounts for about 80% of government revenue and 90% of foreign exchange earnings. Nigeria is now in a political mess, lots of killing, kidnapping and also. Observably, several factors like trade policy regime, quality of human resources, level of domestic. In a situation such as this, national interest does have a negative contribution to national development. Lots of economic challenges have faced nigeria overtime. Mar 10, 2015 major opportunities in nigerian construction industry last year the nigerian economy was declared the largest african economy.
Umoren and olokoyo 2007 studied merger and acquisition in nigeria. Below are the importances of taxation in nigeria economy. What is the impact of ict on economic opportunity such as in trade, business activities. The influence of multinational companies in the economic development of nigeria includes abstract and chapter one, complete project material available the influence of multinational cooporation in the economic development of nigeria a case study of guninness nigeria plc, benin cityabstractthe main focus of this research work is to examine the influence of multinational co. In these studies, researchers used economic development and economic growth interchangeably. With 356,759 square miles, it is one of the largest african nations. In the inaugural businessday scholars in society forum in lagos, nigeria. Some researchers estimated the effect of tax revenue on the economic development of nigeria using gross domestic product gdp. Scale enterprises and explore the effects of ict information communication technology on.
The mdg survey report for 2014 provides the most recent education indicators. The main problem is that our citizens and leaders have always failed to make things right. The term economic development refers to the improvement in the general standard of living of the people of the society. It is by far the most significant source of revenue for modern government hence recently calls for increase in taxation. Crude oil export has continued to account for over 80% of the total federal government revenue, while the remaining 20% is contributed by nonoil.
Multinational corporations and economic development in nigeria. The objective of the study was to determine if stock market development significantly impact on the countrys economic growth. Communication technology, ict resuming as the key driver. International journal of economic development research and investment, vol. Multinational corporations and economic development in. Nigeria capital market operation and economic growth.
Economic diversification for sustainable development in nigeria. The impact of information and communication technology on youth and its vocational opportunities in nigeria 107 research centre for management and social studies statement of the problem employment opportunities for the nigerian citizens have direct link to their socioeconomic lives. The effect of merger and acquisition on the performance of banks in nigeria ajayi lawrence boboye obisesan oluwaseun grace department of banking and finance, faculty of management sciences, ekiti state university, adoekiti, nigeria. Even before the official declaration that the economy is in recession from the second quarter of 2016, many things had gone wrong with the economy. This study examined the effect of stock market development on nigerias economic growth.
However, one means of generating the amount of revenue for providing the needed infrastructure is through a well structured. Economic development nigeria product, growth, economic. Problems of economic development in nigeria and solutions. As time passes, they can invest in securing more information, and also a good deal of previously confidential information is likely to be revealed. Thus, advancement of the financial sector development, including diversification of financial instruments should be.
Local government administration in nigeria and community. American journal of environmental policy and management. Nigeria country profile growth and development economics. Abstract a global economic recession is a period of global economic slowdown. May 21, 2009 nigeria, which has long struggled with governance issues and poverty, is in need of a profound economic transformation. The study period spans economic cycles for about 66 percent of the life of. The influence of multinational companies in the economic development of nigeria includes abstract and chapter one, complete project material available the influence of multinational cooporation in the economic development of nigeriaa case study of guninness nigeria plc, benin cityabstractthe main focus of this research work is to examine. It contributes to economic growth and development as well as a major employer to majority of the people of subsaharan africa including nigeria, especially those in the rural areas. The economy of nigeria is a middleincome, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. An endless search for appropria te development strategy iheanacho, e. Taxation and tax policy as government strategy tools for. Secondary data were employed for the study covering 1985 to 2014.
National interest and national development in nigeria. Students work in groups to identify the differences in development and the issues and challenges this brings for nigeria. The legal framework of merger and acquisition in nigeria. Efforts to achieve the millennium development goals have paid off in some areas but challenges remain. A mutual correlation exists between infrastructural development and economic growth in nigeria. Development strategy for nigeria moses akpobasah at a 2day nigeria meeting organized by the overseas development institute, london, 1617 june 2004 contact. Economic growth is a fundamental requisite to economic development. Augustines college of education akoka, lagos, nigeria. However, the results emanating from these studies have been inconclusive. Nigeria becomes africas largest economy get the data.
Local government administration in nigeria and community development. The impact of information and communication technology. Ict and its impact on national development in nigeria. Falodun, omogiator and ezeaku 1997 observed that economic development is the attainment of ideals of modernization such as the rise in productivity, social and economic equity, improved institution and values. Reflections on the national economic empowerment and development strategy needs 20032007 article pdf available may 2009 with 39,049 reads how we measure. It is ranked as the 27thlargest economy in the world in terms of nominal gdp, and the 22ndlargest in terms of purchasing power parity. Before the prominence of petroleum industry, nigerian economy was dependent on agriculture.
Economic development in nigeria, although has been rocked back and forth by various political, sociocultural, financial and infrastructural setbacks, the economic development of a country like nigeria cant be said to have totally been where it used to be, or to have back tracked as some people insinuate. An empirical analysis of ict and economic growth in nigeria. Understanding development development in human society is a manysided process. Abstract the objective of the study is to determine the extent to which multinational firms have spurred up economic development in nigeria. The nigerian perspective is because the bulk of revenue needed for development purposes is derived from oil. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. Economic development in nigeria oyewo babajide michael 1 1 school of business, department of accounting, covenant university, ogun state,nigeria abstract. This informs why in nigeria growth continuously dominates the main policy thrust of government s development objectives. Nigerias ranking in the 20 human development index at 0. Effects of mergers and acquisitions on the economy. Taxation, besides its revenue generation capacity, can also be used as a fiscal policy tool to shape the economy. National interest and national development the term national interest is characterized with inconsistency. An econometric dimension drawing evidence from nigeria.
Infrastructure development and economic growth nexus in nigeria. Pdf merger and acquisition as survival and sustainable. Economic development in nigeria 393 the country is big and diversified, and the present federal constitution reflects the history as well as the diversification of the country. Essentially, economic growth is associated with policies aimed at. This is coming after nigeria rebased its gdp from 1990 to 2010 resulting in an 89% increase in the estimated size of the economy surpassing south africa. Thus, advancement of the financial sector development, including diversification of financial instruments should be pursued to facilitate economic development in nigeria. Foreign debt management and the development of nigeria economy.
Mar 09, 2020 problems of economic development in nigeria and solutions. Agriculture is an important sector in the developing world. The study was designed to examine mergers and acquisitions in the banking industry in nigeria. Nigeria, which has long struggled with governance issues and poverty, is in need of a profound economic transformation. Africa and nigeria in particular joined the rest of the world in seeking fdi as evidenced by the formation of the new partnership for africas development nepad, which has the attraction of foreign investment to africa as a major component. Nigeria operates a federal system with feeble attempts at democratic practice and has three tiers of. Globalization and nigerian economic development yusuf abdulraheem. Major opportunities in nigerian construction industry last year the nigerian economy was declared the largest african economy. Its population of around forty million makes nigeria the largest african unit. Pdf nigeria has witnessed a great change in information and communication. Macroeconomic determinants of economic growth in nigeria. Nigeria s goal under the national economic empowerment development strategy needs program is to reduce inflation to the single digits. Also, most of the typically scanty empirical attempts have been, in the main, conducted at the crosscountry levels, thus, making it quite difficult to extrapolating to countryspecific cases.
Major opportunities in nigerian construction industry. The economic situation of nigeria nigeria is a mono economic nation with its economy heavily dependent on petroleum revenue which accounts for about 80% of government revenue and 90% of foreign exchange earnings. Globalization and nigerian economic development yusuf. Economic transformation and developmental governance in. A lot of literature exists on tax revenue and economic growth of nigeria adereti et al. Economic liberalization policies have been widely acknowledged in development finance literature as a critical factor in economic performance. It is a strong force for economic development in the country from the precolonial, colonial and postcolonial eras. There have been several studies that have investigated the relationship that exist between infrastructure development and economic growth. Nigeria digital economy diagnostic report world bank documents. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. Ict for good governance and socioeconomic development in. Economic diversification for sustainable development in. An overview of the nigerian economic growth and development.