Towards Efficient Institutional Arrangements for Non-oil Sector Development in Nigeria

Authors

• E. D. Balogun, Central Bank of Nigeria, Abuja

Publisher

Central Bank of Nigeria

Keywords

Non-oil sector, Nigeria, Policy implications, Production, Export

Abstract

This study assesses the role of institutional arrangements in stimulating non-oil sector development in Nigeria. The review of the activities of research and development, extension service, marketing and credit institutions, show that very limited achievements stand to their credit in terms of attainment of set targets, capacity building, incentives administration, institutional viability and the relationship of their operations to the performance of the non-oil sector. Among the problems which undermine the efficiency of these institutions include weak human and institutional capacities, defects in policy approach, dearth of domestic economic management capacities and undue government interference. The study concludes by stressing the need for reforms of these institutions in order to foster sustainable growth of the non-oil sector.

Author Bio

Mr. E. D. Balogun is an Acting Assistant Director, Policy Intelligence Unit, Research Department, CBN, Abuja.

Publication Title

CBN Economic and Financial Review

Issue

4

Volume

35

First Page

100

Last Page

122

DOI

10.33429/1957-2968.2014

Recommended Citation

Balogun, E. D. (1997). Towards efficient institutional arrangements for non-oil sector development in Nigeria. CBN Economic and Financial Review, 35(4), 100-122.