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Economic Policy Management in Nigeria: Effective Diversification Approaches

Marire Mary Ijeoma (), Martin Ezeamama and Lilian Njideka Ebisi

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2018, vol. 8, issue 4, 195-203

Abstract: The study examined effective approaches to diversifying policy management: The way forward. This paper examined the various approaches to diversifying policy management in Nigeria. The study also examines the effect of diversifying policy management on the development of Nigeria economy. The population consists of 562 employees of Dangote group of company in Enugu State. The study used the survey approach. The primary sources used were used to administer 290 copies of questionnaire to the sampled staff of Dangote Groups in Enugu, 282 were returned and accurately filled. The validity of the instrument was tested using content analysis and the result was good. The reliability was tested using the Pearson correlation coefficient (r). It gave a reliability co-efficient of 0.87 which was also good. The hypotheses were analyzed using f-statistics (ANOVA). The study shows that diversifying policy management plays significant role in the development of Nigeria economy. Economic diversification is the process of expanding the range of economic activities both in the production and distribution of goods and services. The study recommends that different sections of the nation and tiers of government should develop other aspects of economy where they have comparative advantage. Efforts should accommodate the key requirements of sustainable development which include meeting the basic needs of man (job, food, health, clothing and shelter), maintaining equity both within and between generations, improving on technology and social organisation to expand the environmental ability to sustain human needs.

Keywords: Diversification; Economic Growth; Gross Domestic Product; Environment (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:hur:ijaraf:v:8:y:2018:i:4:p:195-203