LIST OF REASONS

In recent years, economic analysts have increasingly voiced concerns over Nigeria’s heavy reliance on imports , arguing that the country must redirect its focus towards enhancing local production capabilities to secure a more robust and self-sustaining economy. The debate surrounding the effects of imports, exports, and the trade balance on a nation’s economic health is complex and multifaceted, incorporating a spectrum of positive and negative impacts that affect both consumers and domestic industries. At the heart of this discussion is the recognition that while imports can enrich the domestic market by providing consumers with a greater variety of goods, often at competitive prices, they can simultaneously undermine the growth of local industries if overused or mismanaged. Imports bring with them a range of benefits that are difficult to overlook. They offer access to products and technologies that may not be readily available within the country, enabling consumers to enjoy a diver...

In recent times, a growing body of research has underscored the indispensable role that micro, small, and medium scale enterprises (MSMEs) play in the sustainable growth and development of emerging economies. In Nigeria, a nation rich in human capital and entrepreneurial spirit, this research has taken on a renewed urgency, highlighting the multifaceted benefits of supporting these enterprises. MSMEs are not only the backbone of many economies, representing a vast majority of all business activities, but they also serve as vital engines of innovation, employment, and inclusive growth. For Nigeria, the imperative to nurture and support these enterprises is clear: doing so could catalyze transformative change across the nation’s economic landscape and promote a future of prosperity and stability. Economic studies from various emerging markets reveal that MSMEs constitute more than 95% of all businesses, contribute nearly 50% of the gross domestic product, and generate between 60% to 70% ...

The January 15, 1966 coup remains one of the most contentious events in Nigeria’s political history, often labeled an Igbo coup by critics and political analysts. This characterization stems from several factors, including the ethnic composition of the coup plotters, the regions that witnessed political assassinations, the response of Major General Johnson Aguiyi-Ironsi, and the policies enacted following the coup. The debate over whether the coup was ethnically motivated or merely an attempt at correcting political instability continues to generate discussion. One of the primary reasons the January 1966 coup was referred to as an Igbo coup was the ethnic composition of the military officers who planned and executed it. The coup was largely orchestrated by young army officers, with Major Chukwuma Kaduna Nzeogwu and Major Emmanuel Ifeajuna as the most prominent leaders. While Nzeogwu was born in the North and identified with the region, his ethnic roots were Igbo, and Ifea...

Industrialization has long been recognized as a transformative force for economic growth and social well-being, and its importance becomes even more apparent when examining the global disparities that exist today. In an increasingly interconnected world, only a select group of economies have achieved the status of industrialized nations, yet these countries are responsible for generating more than half of the world’s manufactured goods. This stark imbalance underscores the potential benefits that could be unlocked if countries like Nigeria were to expand their industrial and manufacturing sectors. As the global economy continues to grapple with the challenges posed by the COVID-19 pandemic, the case for accelerating industrialization in Nigeria has never been stronger, as it promises not only to boost economic resilience but also to elevate the quality of life for millions of its citizens. The global landscape reveals that industrialized economies, though representing less than 20 pe...

In recent months, a chorus of Nigerian scholars has emerged, urging the nation’s leaders and policymakers to take decisive action to reduce both unemployment and underemployment —a dual challenge that is undermining the country’s economic potential and social cohesion. These experts, drawing from extensive research and comparative studies with global trends, have presented a multifaceted explanation of why the persistence of joblessness is not only an economic dilemma but also a profound societal threat. Their analysis underscores that the issue is deeply rooted in a variety of interconnected factors that include economic fluctuations, rapid technological advancements, the pressures of globalization, systemic gaps in education and training, and ingrained biases that perpetuate discrimination in the workplace. At the heart of their argument lies the observation that economic fluctuations have long served as a barometer for a nation’s job market. In Nigeria, as in many other ...

In recent discussions surrounding economic growth and development, a recurrent theme has been the significant role that access to affordable credit plays in the sustainability and expansion of businesses. In Nigeria —a nation with a burgeoning entrepreneurial spirit and a rapidly expanding market economy—there is a growing chorus of economists arguing that increased access to credit is not only a catalyst for business expansion but also an essential tool for reducing income inequality, creating jobs, and fostering overall economic resilience. The conversation on access to credit has often centered on its critical role in empowering both individuals and enterprises to realize their long-term financial goals . For many, the absence of affordable credit lines has translated into a major roadblock in pursuing investments that could otherwise enhance productivity and drive innovation. In emerging economies around the world, traditional financial institutions have often been unable or unwill...

A low and stable inflation rate is not simply a matter of maintaining steady prices; it is a cornerstone of economic well-being and long-term growth. When inflation is kept under control, the benefits extend well beyond the mere predictability of prices, touching upon efficient resource allocation, enhanced investment climates, and improved social equity. In Nigeria, where economic fluctuations and uncertainties have often stymied progress , the pursuit of low and stable inflation is a critical objective for ensuring sustainable development and elevating the standard of living for its citizens. A primary benefit of low inflation is its ability to promote the efficient use of productive resources. In an environment where prices are volatile and unpredictable, both businesses and households are forced to divert significant time and effort into hedging against inflationary pressures. Instead of channeling resources into productive investments, companies may find themselves preoccupied wi...

Citizenship education in Nigeria is widely recognized as a fundamental pillar in the development of a vibrant, effective, and inclusive democratic society. Over the years, experts and commentators have emphasized that educating young Nigerians about their rights, responsibilities, and the importance of active political engagement is not merely an academic exercise—it is a strategic necessity for the nation’s progress. The discourse surrounding citizenship education is driven by the belief that an informed citizenry is the bedrock of any functioning democracy, and that a comprehensive understanding of civic duties can transform individuals into active agents of change. There are numerous reasons for citizenship education in Nigeria. See hereunder.  In Nigeria, citizenship is more than a legal status conferred by birth, registration, or naturalization; it is a commitment to participate in the collective endeavor of nation-building. As citizens, Nigerians are expected to both enjoy th...

Archaeology is a field that offers students the rare opportunity to delve into the hidden layers of human history, exploring the remnants of civilizations and unearthing evidence of societal evolution. In Nigerian universities , where a deep historical tapestry intermingles with vibrant modern cultures, the study of archaeology has become not only an academic pursuit but also a journey of self-discovery and professional growth. By choosing to study this subject, students are not only gaining insight into the past but also equipping themselves with a wide array of transferable skills that prove invaluable in the professional world. There are many reasons to study archaeology , but at the heart of studying archaeology lies the allure of uncovering the secrets of human history. The meticulous analysis of physical remains—from ancient pottery shards to weathered monuments—provides tangible proof of how human societies have evolved over millennia. In the context of Nigerian universities, th...