Richard O. Omotoye, Hari P. Sharma, Christopher Ngassam and Maxwell Eseonu
The paper sets out to focus the attention of scholars and policy‐makers on the urgency of Nigeria's worsening debt crisis, with a view to suggesting initiatives which can be…
Abstract
Purpose
The paper sets out to focus the attention of scholars and policy‐makers on the urgency of Nigeria's worsening debt crisis, with a view to suggesting initiatives which can be instrumental in preventing a further deterioration of the crisis.
Design/methodology/approach
The recommendations suggested specifically addressed stated research objectives. The research framework attempted to evaluate the role played by Nigeria's past administrations in the evolvement of the crisis. It also appraised the crisis in the context of the new international environment surrounding it. The study suggested improvement to the methodological flaws inherent in modern‐day debt resolution framework, which, so far, has only undermined the implementation of past resolution initiatives at the practical level.
Findings
Among other findings, the study uncovered the following: without their modification to suit the peculiar needs and circumstances facing individual countries, modern‐day debt resolution initiatives will only continue to further impoverish Nigeria and sub‐Saharan Africa; over time, Nigeria's successive administrations‐through corruption and inconsistent administrative policies‐significantly contributed to the crisis; creditors establishments‐by knowingly favoring fraudulent administrations with huge, questionable loans (in their self‐serving interest to benefit from reverse resource transfer)‐in no small measure contributed to the crisis.
Research limitations/implications
The projections into the future are only based on trends observed in the past. They do not include unexpected events which might dramatically affect the course of the crisis in the long or distant future.
Practical implications
In order to ensure a successful implementation of resolution strategies suggested here and elsewhere, all the concerned parties will have to be actively involved‐both Nigeria and other indebted African countries, and all their external creditors.
Originality/value
Nigeria's external debt crisis was re‐appraised in the context of the new environment of the crisis. The findings and initiatives suggested for resolution here have a tremendous research value for scholars in the field. They also have an immense practical value for implementation by policy‐makers.
Details
Keywords
Esther O. Adegbite, Folorunso S. Ayadi and O. Felix Ayadi
This paper aims to investigate the impact of huge external debt with its servicing requirements on economic growth of the Nigerian economy so as to make meaningful inference on…
Abstract
Purpose
This paper aims to investigate the impact of huge external debt with its servicing requirements on economic growth of the Nigerian economy so as to make meaningful inference on the impact of the debt relief which was granted to the country in 2006.
Design/methodology/approach
The neoclassical growth model which incorporates external sector, debt indicators and some macroeconomic variables was employed in this study. The paper investigates the linear and nonlinear effect of debt on growth and investment utilizing the ordinary least squares and the generalized least squares.
Findings
Among other things, the negative impact of debt (and its servicing requirements) on growth is confirmed in Nigeria. In addition, external debt contributes positively to growth up to a point after which its contributions become negative reflecting the presence of nonlinearity in effects.
Originality/value
Nigeria's external debt is analyzed in a new context utilizing a different but innovative model and econometric techniques. It is of tremendous value to researchers on related topic and an effective policy guide to policymakers in Nigeria and other countries with similar characteristics.
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Olayombo Elizabeth Akinwale, Olusegun Emmanuel Akinwale and Owolabi Lateef Kuye
Employability skills have transformed from the acquisition of university degrees to possessions of cognate skills other than only degrees that can help employees secure…
Abstract
Purpose
Employability skills have transformed from the acquisition of university degrees to possessions of cognate skills other than only degrees that can help employees secure employment in contemporary work environments. This study evaluates essential skills that will prepare millennia of youths and graduates for employment in the present job market. The study investigated four major hypotheses to underscore the employability opportunities of graduates in challenging 21st-century work environments.
Design/methodology/approach
To clearly gain an understanding of women’s disparity in society, the study employed a qualitative approach to evaluate the incidence of gender prejudice in a men’s dominant world. The study utilised two distinguished sampling strategies, purposive and snowballing sampling techniques, which were deemed suitable and useful due to the nature of the study. The study recruited 42 participants by conducting semi-structured interview sessions for the study. The study employed a deductive approach to analyse the data obtained from participants. A thematic content analysis was used to take away prejudice and establish an overarching impression of the interviewed data. Atlas.ti was used to analyse the transcribed interview data from the participants to establish common themes from the surveyed informants.
Findings
The results of this investigation indicated that there is a deep-rooted trend of institutionalised men’s dominance in politics and religious leadership. Women perceived less representation and men dominated the two domains of existence in their local environment. The study established that women are optimistic about a turnaround narrative on gender equality in politics and religious leadership. They expressed their concern about strengthened public debate and campaigns on women’s representation, and against gender discrimination. The study further shows that women are influencing the ethical and moral sense for change against women’s neglect in society. They expressed their concerns against the selection of people into political offices for elected political posts and observed the peculiarity of political godfathers fixing their favourite men into those offices.
Originality/value
The study discovered that women are leading campaigns for their representation in politics as well as church leadership today. The novelty of this study bothering around two domains of women’s lives – politics and religion, in particular, church leadership. These have not been evidence before in a study.