| Issue |
E3S Web of Conf.
Volume 402, 2023
International Scientific Siberian Transport Forum - TransSiberia 2023
|
|
|---|---|---|
| Article Number | 13009 | |
| Number of page(s) | 9 | |
| Section | Environmental Risk Assessment and Management | |
| DOI | https://doi.org/10.1051/e3sconf/202340213009 | |
| Published online | 19 July 2023 | |
The role of special economic zones (SEZs) in achieving sustainable development in Nigeria
1 Moscow Financial and Industrial University "Synergy", Moscow, Russia
2 Рeoples’ Friendship University of Russia (RUDN University), Moscow, Russia
* Corresponding author: enko-oa@rudn.ru
The development and implementation of Special Economic Zones (SEZs) has become one of the main directions of investment policies to many economies. The creation of SEZs is aimed at attracting foreign investment and boosting the entry of their manufacturers into the world market. This paper assesses the impact of SEZ programs on the sustainable development in Nigeria and define how SEZs contribute to employment and exports in selected sub-Saharan African countries. Furthermore, the effectiveness of certain types of financing in the main sectors and the level of their impact on sustainable development in Nigeria was analyzed. It was revealed that the mining sector financing methods do not seem to support or deliver on Nigeria's development goals, making it completely ineffective given the issues identified as well as the sector's contribution to improving the country's socio-economic performance. In other words, Nigeria should create various mechanisms and models for financing its manufacturing and agro-industrial complex through the creation of SEZs, as well as create the necessary preferential regimes in these sectors that can attract and direct huge investments in the manufacturing agricultural industries of these sectors. The authors developed a model for the relationship of investment with these indicators in African countries. A model was used to determine the degree to which job growth (p) and exports (e) are dependent on investment in special economic zones (SEZs). They conclude that the investment in SEZs is positively associated with job growth and exports.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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