The first article in this volume is entitled “Agricultural output on Economics Growth: The Nigerian case”, the authors investigated the contribution of the agricultural sectors output to the growth of domestic economy in Nigeria for the period 1990-2017. Although empirical in nature, the authors have synthesized the nomenclature for seamless understanding. A major recommendation was hinged on government increasing its budgetary allocation on agriculture in order to boost the growth performance of the sector amongst other points.
The second article entitled “Ditch the Naira and champion the Eco: A post forex crisis assessment” advocates for the ECOWAS Monetary Union as a potential solution to the constraints and vulnerabilities of the Nigerian economy. Through a holistic assessment of both the theory, empirical studies and the use of the Eurozone as a case study, the authors opined that Nigeria can benefit from the ECOWAS Monetary Union. The analysis in this paper is both timely and endogenous when considered alongside the 2014-2017 forex crisis.
The third article entitled “Economic diversification in Nigeria: Lessons from other countries of Africa”. The findings of this study revealed that diversification is not only a Nigerian problem, several African countries have diversification issues. Secondly, it is a complex process, and economic diversification needs an enabling environment, the right institutional mix (financial, legal, regulatory and market institutions), the necessary infrastructure, human capital development, entrepreneurship combined with the right policy mix sustained over a considerable period.
The fourth article entitled “Energy Efficiency in small and medium scale enterprises (SMEs) and economic growth In Nigeria”. This study focused on the energy efficiency in small and medium scale enterprises (SMEs) market, aiming to develop a broader understanding of the key actors, structure and dynamics of the current market and an effective de-compositive study; identify the energy/ SMEs conservations towards the growth of Nigerian GDP and financial opportunities available to them.
The fifth article entitled “Trade Liberalization and Productivity in the Nigerian Manufacturing Sector”. Using firm-level data collected for the manufacturing sector in Nigeria the authors constructed a pseudo-panel data set to analyse the effects of trade liberalization on productivity of firms in the Foods, Beverages and Tobacco, Non-metallic Mineral Products and Woods, Wood Products and Furniture sub-sectors. The results obtained were indicative of the position that whereas the import aspect of trade liberalization impedes productivity of firms across more sub-sectors, the exports component enhances productivity of firms in all the sub-sectors examined in the industry. Hence, measures aimed at encouraging exports would be relatively more effective in improving productivity.
The sixth and final paper entitled “Macroeconomic determinants of solid mineral export price in Nigeria, 1981 – 2017”. The authors observed that fluctuation in export prices of solid minerals affected investment in the sector with its concomitant effect on government revenue thereby creating imbalances in the economy. The study revealed solid mineral export prices had long-run relationship with their determinants. In the short run, it was discovered that solid mineral export price had a positive and significant response to changes in exchange rate. In summary the authors posited government should consider low interest rates to enable investors obtain loans for importation of equipment for use in the sector.