Economic and Policy Review <span style="font-family: Calibri;">The NESG <em>Economic and Policy Review</em> (EPR) is a quarterly publication of the Nigerian Economic Summit Group (NESG), established to serve as an avenue for constructive analysis of economic policies and their impacts on different aspects of the business and economic environment. The EPR aims to provide unbiased, non-partisan views, opinions and analyses on the Nigerian economy and a source of socio-economic indices for business leaders, policy makers and other stakeholders. Therefore, the thrust of the EPR is to provide readers with ideas that help them become smarter, more creative, and more informed about the business and economic environment in which they operate and work. EPR enlists experts in public policy, business, economic theory and practice to express their thoughts and views in the most influential way possible on economic policy and direction of government and the Nigerian economy in the short, medium and long terms.</span> NESG en-US Economic and Policy Review State of the Nigerian economy: first half of 2017 No Abstract Wilson Erumebor Copyright (c) 2018-01-18 2018-01-18 16 2 10.4314/epr.v16i2. Environmental degradation, energy consumption, population growth and economic growth: Does Environmental Kuznets curve matter for Nigeria? <p>This paper investigates the relationship between CO2 emissions, energy consumption, population growth and economic growth in Nigeria during the period 1980-2012. The paper adopts autoregressive distributed lag (ARDL) bounds testing approach for cointegration with structural breaks and Toda-Yamamoto non-granger causality approach. Based on the result, there is no evidence of unidirectional causality running from CO2 emissions and energy consumption to economic growth and strong unidirectional causality running from CO2 emissions, energy consumption and economic growth to population growth was found. The long run and short run estimates show that energy consumption and population growth have strong and positive impact on CO2 emissions in the long-run and short run whereas economic growth impact weakly and negatively on CO2 emissions in the short-run. The inverted U-shaped environmental Kuznets curve (EKC) hypothesis is supported graphically and analytically in the long run with a turning point of 4.87. This means Nigeria has reached the required level of per capita real GDP to get an inverted U-shaped EKC. The main policy prescriptions among others is that Nigeria government should increase environmental taxation in order to reduce the rate of fossil fuel used by individuals which may lead to a reduction in per capital CO2 emissions.</p> Imisi R. Aiyetan Philip A. Olomola Copyright (c) 2018-01-18 2018-01-18 16 2 10.4314/epr.v16i2. The empirical analysis of cash balance pension scheme implementation in Nigeria <p>The study tested the equality of the expected mean retirement outcomes of the cash balance, dened contribution and dened benet pension plans in three workplace scenarios in Nigeria that differed only on how monthly wages of employees are computed at entry into the schemes but contingent on employee's experience and desirable skills. The analyses are based upon the values obtained from the actuarial valuation models that incorporate assumptions that satisfy Nigerian pension statutory requirements. The results show that the cash balance mean gratuity and the cash balance mean pension are individually higher than those of the traditional schemes in all the three cases studied. We therefore conclude that cash balance plan offers the most rewarding retirement benets to participants, and thus it deserves introduction into the Nigerian pension market.</p><p><strong>Keywords:</strong> cash balance plan, dened benet plan, dened contribution plan, gratuity, pension, pension replacement rate</p> Martin O. Omorodion Olusegun Oyediran Copyright (c) 2018-01-18 2018-01-18 16 2 10.4314/epr.v16i2. Is inflation a growth killer? Evidence from sub-Saharan Africa <p>This paper examines the impact of ination on economic growth in Sub-Saharan Africa in order to provide an empirical evidence whether ination hinders or boost economic activities in the region. The paper found that ination exhibits a reducing-growth effect in both short-term and long-term periods using Panel Autoregressive Distributed Lag (PARDL) model. Therefore, the study recommends that African government needs to address the issues of ination especially imported ination in order to stimulate sustainable economic growth in the region. In addition, strengthening political commitment to ensure conducive business environment has to be paramount rather than depending on the traditional model of bring your own infrastructure.</p><p><strong>Keywords:</strong> Ination, Sub-Sahara Africa, Panel Autoregressive Distributed Lag</p> Mustapha A. Akinkunmi Copyright (c) 2018-01-18 2018-01-18 16 2 10.4314/epr.v16i2. Making public-private partnerships work in Nigeria <p>Nigeria's huge infrastructure decit remains a major obstacle to improved living standards, enterprise development and sustained economic growth. Among many other nancing models, Public-Private Partnerships (PPPs) present a preferred option for long term infrastructure provision and development adopted by many countries. Over the past decade, Nigeria has experienced poor execution of PPP projects caused by fundamental bottlenecks such as lack of strategic direction for infrastructure, weak political will, political interests/interference, lack of transparency and weak legal and regulatory frameworks amongst others. This Policy Brief delves into special cases and experiences of PPPs while reviewing critical challenges and proffering solutions to making PPPs work in Nigeria. Overall, the Brief recommends the review of the National Integrated Infrastructure Master Plan (NIIMP), enactment of PPP legislation and implementation support policies to de-risk execution of PPPs in Nigeria.</p> Wilson Erumebor Copyright (c) 2018-01-18 2018-01-18 16 2 10.4314/epr.v16i2. How to revive Nigeria’s neglected leather industry <p>Apart from the abundance of natural and human resources, Nigeria represents the largest economy in Africa with equally huge market given its population size-180 million. Despite these comparative advantages, the country has underperformed in charting an inclusive and sustainable growth strategy over the decades. A cursory look at the structure of the Nigerian economy reveals that one of the leading sectors in Nigeria driving national output, employment and export is agriculture sector. The sector, which currently accounts for about 24% of GDP, has been acclaimed to have the potential of contributing about 65% to employment generation and 50% export share if its vast and enormous value-adding opportunities in agro-industry are explored. Nigeria has the largest resource of goatskin and kidskin in Africa representing 46% and 18% of total in West Africa and Africa, respectively. There is need for value addition in Nigeria's leather value chain to upgrade its position in the regional and global trade of leather commodities with varying implications on intra- and intertrade, backward integration, employment generation, industrial deepening, increased productivity and competitiveness. However, the lingering challenges in the industry such as structural barriers, poor visibility and lack of government intervention have led to revenue loss of about $300 million annually. Given the focus of the government towards economic diversication and support for the implementation of an agriculture-led industrialization as specied in the Economic Recovery and Growth Plan (ERGP), the government needs to explore the inherent opportunities in the leather industry through promoting public-private partnership, providing scal incentives as well as enhancing technology and human capital development in the industry.</p> Wilson Erumebor Copyright (c) 2018-01-18 2018-01-18 16 2 10.4314/epr.v16i2.