Diversification of the Economy: An Imperative for Sustainable Development in Nigeria

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The study was to evaluate the diversification of the economy as an imperative for sustainable
development in Nigeria. The specific objectives were to: evaluate the effect of enhancing Agricultural
sector on the creation of jobs in Nigeria, assess the effect of manufacturing with high local contents
on the derivations of economic growth in Nigeria and ascertain the effect of solid minerals sectors on
the income redistribution in Nigeria. The study used the survey approach. The primary source of data
was the administration of questionnaire while the instrument for data collection was structured
questionnaire. A population of 3842 staff was used. The population of the study was drawn from the
selected ministries in Enugu state using a stratified sampling method. Adequate sample size of 350
was determined, using Freund and William's statistic formula. 327 staff returned the questionnaire
and accurately filled. It gave 93 percent response rate. The hypotheses were analyzed using Z–test
statistic tool. The findings indicated that: enhancement of agricultural sector had significant positive
effect on the creation of job in Nigeria Z (95, n = 327) = 5.085 < 6.359, p > 0.05, manufacturing with
high local contents had positive effect on the economic growth in Nigeria Z (95, n = 327) = 4.454 0.05 and promotion of solid mineral sector had positive effect on the income redistribution
in Nigeria Z (95, n = 327) = 7.555 – 10.499, p > 0.05. The study concluded that enhancing agricultural
sector, manufacturing with high local content and improvement in the solid minerals sector had
positive effect on job creation, derivation of economic growth and income redistribution in Nigeria.
The study recommended among others that Nigerian government in line with the ministry of
agricultural should constantly organize seminars and programs to enlighten the citizens, most
especially the youths on the opportunities in agriculture and its importance to the growth of the
nation’s economy.

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APA

Hubs, H., Chukwuemeka, N & Willy, P (2021). Diversification of the Economy: An Imperative for Sustainable Development in Nigeria. Afribary. Retrieved from https://afribary.com/works/diversification-of-the-economy-an-imperative-for-sustainable-development-in-nigeria

MLA 8th

Hubs, Hkay, et. al. "Diversification of the Economy: An Imperative for Sustainable Development in Nigeria" Afribary. Afribary, 13 Dec. 2021, https://afribary.com/works/diversification-of-the-economy-an-imperative-for-sustainable-development-in-nigeria. Accessed 10 Aug. 2022.

MLA7

Hubs, Hkay, Nwatu Chukwuemeka and Prof. Willy . "Diversification of the Economy: An Imperative for Sustainable Development in Nigeria". Afribary, Afribary, 13 Dec. 2021. Web. 10 Aug. 2022. < https://afribary.com/works/diversification-of-the-economy-an-imperative-for-sustainable-development-in-nigeria >.

Chicago

Hubs, Hkay, Nwatu Chukwuemeka and Prof. Willy . "Diversification of the Economy: An Imperative for Sustainable Development in Nigeria" Afribary (2021). Accessed August 10, 2022. https://afribary.com/works/diversification-of-the-economy-an-imperative-for-sustainable-development-in-nigeria