Can Labour and Trade Stimulate the Achievement of Nigeria’s Vision 20:2020 Drive?

Oluwatoyin A. Matthew¹ , Oluwasogo S. Adediran² , Ngozi B. Adeleye³ , Folasade B. Adegboye⁴

Section:Review Paper, Product Type: Isroset-Journal
Vol.3 , Issue.2 , pp.1-7, Feb-2017

Online published on Feb 28, 2017

Copyright © Oluwatoyin A. Matthew, Oluwasogo S. Adediran, Ngozi B. Adeleye , Folasade B. Adegboye . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
The paper examines the extent to which labour and trade can help Nigeria achieve the goal of attaining the position of one of the 20 largest economies in the world by 2020 using descriptive analysis of data between 2009 and 2013. The aim is to analyze the extent to which labour and trade respond to the smart initiative by the Nigerian Government in its drive towards achieving Nigeria’s vision 20:2020. The paper adopted both comparative and exploratory approaches. Exports, imports, trade as a percentage of GDP and the unemployment rate figures in Nigeria were compared with those of Belgium, Poland, Saudi Arabia and Sweden that have been in contention for the 20th largest economy since 2009. Though, the finding of this study revealed Nigeria is still lagging behind the other four contenders of the 20th position, but has a lot of potentials to clinch the 20th position before or by the year 2020 since she is presently regarded as one of the fastest growing economies in the world. Therefore, the study recommends that concerted efforts should be made by the Nigerian government to mobilize and harness the potentials of the labour force to engender accelerated economic development through the establishment of an enabling environment for the expansion of economic activities, skill development and appropriate training.

Key-Words / Index Term :
Labour, Trade, Vision 20:2020

References :
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