Nigerian oil rebound vital for economic recovery

2017 ◽  
Keyword(s):  
Niger Delta ◽  
Agricultural Sector ◽  
Economic Recovery ◽  
Content Type ◽  
Oil Companies ◽  
China And India ◽  
Relative Safety ◽  
Oil Sector ◽  
The Government ◽  
State Interventions

Significance Despite such controversies, the government is pinning hopes for economic recovery on restoring hydrocarbons production alongside longstanding plans to reduce the country’s dependence on oil. While large international oil companies are retreating to the relative safety of the deep offshore, the government will look to new partnerships with China and India for large infrastructure projects. Impacts Employment gains in the oil sector will be marginal compared to increases in the agricultural sector. Recent state interventions against oil majors are unlikely to deter future investment. Counter-insurgency operations against Boko Haram could distract from government peace efforts in the Niger Delta.

Agripreneurship development: a strategy for revamping Nigeria’s economy from recession

2017 ◽  
Vol 8 (4) ◽  
pp. 474-483 ◽  
Author(s):  
Innocent Otache
Keyword(s):  
Economic Crisis ◽  
Design Methodology ◽  
Agricultural Sector ◽  
Content Type ◽  
Current Economic Crisis ◽  
Leadership Failure ◽  
Oil Sector ◽  
The Government ◽  
Creativity And Innovation ◽  
Practical Implications

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development. Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development. Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.” Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy. Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career. Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap.

Ecuadorian government seeks to boost oil activity

2015 ◽  
Keyword(s):  
Primary Source ◽  
Oil Prices ◽  
World Market ◽  
Balance Of Payments ◽  
Oil Fields ◽  
Content Type ◽  
Oil Companies ◽  
Oil Sector ◽  
The Government ◽  
Total Oil

Subject The outlook for the oil sector. Significance While Ecuador is the smallest member of OPEC, oil is its largest export and the government's primary source of revenue. The collapse of world oil prices has forced the government to introduce import controls to support the balance of payments and cut public spending to reduce the budget deficit. However, rising levels of oil production have softened the blow of falling oil prices. The government hopes to continue this trend by attracting new investment into the oil sector, despite the downturn in the world market. Impacts The perilous state of the balance of payments and public finances will increase the need to attract new foreign investment into oil. Chinese oil companies are likely to increase their presence in Ecuador, reflecting trends elsewhere in Latin America. Development of the oil fields previously integrated into Yasuni/ITT should increase total oil output significantly from 2018-19.

Iraqi Kurdistan could see oil and gas advances

2021 ◽  
Keyword(s):  
Oil And Gas ◽  
Oil Prices ◽  
Oil Production ◽  
Content Type ◽  
Oil Companies ◽  
Iraqi Kurdistan ◽  
Oil Sector ◽  
The Government ◽  
Slight Rise

Significance The oil sector managed a slight rise in oil production in 2020, despite the challenges of the pandemic and low oil prices. The KRG mostly managed to keep up payments to oil companies but did not assist Baghdad in making production cuts under the OPEC+ agreement. Impacts Combined new gas projects could meet domestic needs and potentially allow exports by the later 2020s. The government could resume payments of overdue amounts to international oil companies from this month. Talks with Baghdad will become more complex around planned elections in October 2021 and depending on legal developments with Turkey.

Environmental lawsuit will test Guyana's oil sector

2021 ◽  
Keyword(s):  
Spillover Effect ◽  
Economic Importance ◽  
Environmental Legislation ◽  
Economic Implications ◽  
Content Type ◽  
Oil Companies ◽  
Production Sharing ◽  
Oil Sector ◽  
The Government ◽  
Increased Pressure

Significance If successful, the lawsuit could force the government to cancel or suspend its oil production-sharing agreements (PSAs) with major international oil companies such as ExxonMobil. Given the growing economic importance of the oil sector, the outcome of the lawsuit will have major economic implications for Guyana. Impacts Some potential investors may be wary of committing to Guyana while the lawsuit remains unresolved. Other activists may be emboldened to launch further challenges on environmental grounds. Neighbouring Suriname may experience a spillover effect, with increased pressure to upgrade its environmental legislation.

Reshuffles open way for reform of China's oil sector

2015 ◽  
Keyword(s):  
Mergers And Acquisitions ◽  
Oil And Gas ◽  
Quality Standards ◽  
Energy Industry ◽  
Fuel Quality ◽  
Content Type ◽  
Oil Companies ◽  
Oil Sector ◽  
The Government ◽  
Oil And Gas Companies

Subject Outlook for China's oil sector. Significance China's 'big three' oil companies have this month announced changes to their top management. The three companies have been under pressure from corruption investigations, and the collapse in global oil prices has weakened them financially. The latest reshuffles reveal the importance of politics in shaping the behaviour of China's oil and gas companies, and with it the competitive landscape of China's energy industry and global oil and gas mergers and acquisitions. Impacts There will be partial consolidation of some NOC assets, but 'mega-mergers' are unlikely. China's oil and gas companies will invest overseas with more robust government backing. Sinopec and CNPC will focus on upgrading refining capacity to meet more stringent fuel quality standards. Foreign investors will find new opportunities as the NOC's sell assets and the government opens the sector to private firms.

The problems facing agricultural sector in Zanzibar and the prospects of Waqf-Muzar’ah-supply chain model

Humanomics ◽  
2017 ◽  
Vol 33 (2) ◽  
pp. 189-210 ◽  
Author(s):  
Issa Salim Moh’d ◽  
Mustafa Omar Mohammed ◽  
Buerhan Saiti
Keyword(s):  
Supply Chain ◽  
Interest Rates ◽  
Financial Models ◽  
Agricultural Sector ◽  
Chain Model ◽  
Content Type ◽  
High Interest ◽  
Supply Chain Model ◽  
The Government ◽  
Clove Industry

Purpose This paper aims to identify the appropriate model to address the financial challenges in agricultural sector in Zanzibar. Since the middle of 1960, clove production has continually and significantly decreased because of some problems and challenges that include financial ones. The financial intermediaries such as banks, cooperatives and micro-enterprises provide micro-financing to the farmers with high interest rates along with collateral requirements. The numerous programmes, measures and policies adopted by the relevant parties to find out the solutions to the dwindling clove production have failed. Design/methodology/approach The authors will review and examine several existing financial models, identify the issues and challenges of the current financial models and propose an appropriate Islamic financing model. Findings The numerous programmes, measures and policies adopted by the relevant parties to find out the solutions to the dwindling clove production have failed. This study, therefore, proposed a Waqf-Muzara’ah-supply chain model to address the financial challenge. Partnership arrangement is also suggested in the model to mitigate the issues of high interest rates and collateral that constrains the financial ability of the farmers and their agricultural output. Originality/value The contribution of the agricultural sector to the economic development of Zanzibar Islands is considerable. As one of the important agricultural sectors, the clove industry was the economic backbone of the government of Zanzibar. This study is believed to be a pioneering work; hence, it is the first study that investigates empirically the challenges facing the clove industry in Zanzibar.

Florida voters react to Biden's Caribbean policy

2021 ◽  
Keyword(s):  
Disaster Relief ◽  
Electoral Politics ◽  
The State ◽  
Pivotal Role ◽  
Economic Recovery ◽  
Short Term ◽  
Content Type ◽  
Family Connections ◽  
The Caribbean ◽  
The Government

Significance Many areas of the Caribbean have trade, investment and family connections with communities in Florida. As the state now plays a pivotal role in US electoral politics, crises in the region can take on added political importance for parts of Florida’s electorate. Impacts Forecasts of short-term economic recovery for Florida remain highly uncertain given the continuing impact of the pandemic. Clashing interests across the Caribbean may demand greater coordination of US policy than the government can currently offer. Healthcare and disaster relief capabilities within the state are severely overstretched and could be overwhelmed by a new crisis.

Dominican Republic tourism begins fragile recovery

2021 ◽  
Keyword(s):  
Dominican Republic ◽  
Economic Recovery ◽  
Infrastructure Investment ◽  
Health Minister ◽  
Slow Recovery ◽  
Content Type ◽  
The Government ◽  
Investment Programme

Significance Accounting directly and indirectly for 16-17% of GDP in 2019, tourism is a major plank of the Dominican economy and will be key to broader economic recovery in 2021. With that in mind, the government is striving to encourage visitors back as soon as possible. Impacts Cruises are less important to the Dominican Republic than some smaller islands, but the slow recovery of that sector will be a blow. The president plans to launch an infrastructure investment programme later this year to help boost employment. The dismissal of Health Minister Plutarco Arias over alleged procurement irregularities may undermine government anti-corruption pledges.

scholarly journals Agro-industrialisation and financial intermediation in Nigeria

2020 ◽  
Vol 11 (3) ◽  
pp. 443-456 ◽  
Author(s):  
Ngozi Adeleye ◽  
Evans Osabuohien ◽  
Simplice Asongu
Keyword(s):  
Agricultural Sector ◽  
Explanatory Power ◽  
Value Added ◽  
Annual Data ◽  
Industrial Output ◽  
Industrial Growth ◽  
Content Type ◽  
Long Run ◽  
The Government

PurposeThe study aims to analyse the role of finance in the agro-industrialisation nexus in Nigeria using annual data on manufacturing value added, agricultural value added and volume of finance availed to the agricultural sector from 1981 to 2015.Design/methodology/approachTo establish the presence of a long-run relationship, the error correction model and bounds cointegration techniques are employed. Likewise, the model is augmented to test whether the associated relationship between industrial output and agricultural output depends on access to finance by farmers with the inclusion of an interaction term.FindingsSome salient contributions to the literature are as follows: agriculture and finance are strong and positive predictors of industrialisation in the long run; in the short run, past realisations of industrial output and finance have significant asymmetric effects on industrial output; the explanatory power of agriculture decreases with the growth of the financial system; and the long-run results validate the role of finance in the agro-industrialisation nexus.Originality/valueGiven these findings, achieving growth in the agricultural sector that will induce desired industrialisation should be prioritised by the government through agencies such as the central bank, financial intermediaries and other stakeholders with a view to making agricultural financing a major concern for sustainable domestic consumption and industrial growth.

New Cyprus parliament will be tougher to deal with

2016 ◽  
Keyword(s):  
Eastern Mediterranean ◽  
Economic Recovery ◽  
Content Type ◽  
Parliamentary Elections ◽  
Presidential System ◽  
History Of ◽  
The Republic ◽  
The Government ◽  
Republic Of Cyprus ◽  
Parliamentary Support

Subject The May 22 parliamentary elections. Significance The elections had the lowest turnout in the history of the Republic of Cyprus and brought about significant changes in the composition of the chamber. They were conducted amid a climate of fragile economic recovery and talks with the Turkish Cypriots on reunification. The outcome was a weakening of parliamentary support for the talks and a louder voice for nationalist, anti-austerity and anti-reform views. Impacts The government that is in place will not be affected because Cyprus has a presidential system. However, the lack of a parliamentary majority could hinder the Cypriot economy's fragile recovery. Resolving the division of Cyprus problem would be a significant positive boost for the very insecure Eastern Mediterranean.

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