Attaining Sustainable Growth in Nigeria: Any Role for Solid Mineral Development?
Attaining Sustainable Growth in Nigeria: Any Role for Solid Mineral Development?

Summary/Abstract: Using time series such as GDP per capita, solid minerals output, foreign trade balance, domestic interest rate, inflation, and gross domestic savings, for the period 1960-2015. The Linear Growth Regression model adopted for this study indicates that solid minerals positively impact on sustainable growth and is statistically significant. The study also found that solid mineral is highly significant but negatively related with foreign exchange due largely to illegal migration of mineral commodities across the borders of the country. In view of this, there is need for conscious inter-agency collaboration to track the volume of mineral resources illegally escaping the shores of the country without being accounted for. Besides, there should be more attention on developing the solid mineral sector to help insulate the economy from the vagaries of the present economic woes given the rising demand in solid mineral resources globally.

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