Original Research Article
ABSTRACT
Corporate social responsibility is an essential aspect of corporate social responsibility. However, in practice, companies can face various empirical problems affecting the effectiveness of corporate social responsibility programs. This study aims to determine how social and environmental responsibility implementation is based on the East Kutai Regent Regulation No. 42 of 2019 at the PT Pama Persada Nusantara Site Kimberley Process Certification Scheme. This study uses a descriptive qualitative method and an implementation theory of disposition, communication, bureaucracy, and resources. The East Kutai Regent Regulation has implemented social and environmental responsibility by PT Pama Persada Nusantara. Corporate social responsibility is implemented systematically, paying attention to four indicators: participatory communication, provision of adequate resources, strong commitment from all levels, and an organized bureaucratic structure. Transparency, accountability, and good coordination support the program's success. However, implementation also faces obstacles such as geographical conditions and socio-cultural differences in the community. Overall, implementing corporate social responsibility is adequate and can exemplify sustainable corporate social responsibility practices oriented towards community welfare. As an improvement effort, it is recommended that the company strengthen two-way communication, conduct comprehensive social mapping, and collaborate with the village government to facilitate program implementation. Local governments must oversee and integrate corporate social responsibility programs into regional development. Meanwhile, the public is expected to participate more actively to ensure the success and sustainability of the programs.
Original Research Article
ABSTRACT
Since the end of 2015, Nigeria has experienced slow economic growth, which has increased the nation's poverty rate. This paper addressed the issue of poverty brought on by import-oriented industry, high governance costs, inflation, corruption, unemployment, low technological investment, and a failure to maximize effort, resources, and outcomes. They have an impact on both Nigeria's national development and its sustainable development plans. The study used secondary data as its information source. Newton's laws of motion can be used as a key tool to address these issues and guarantee economic growth. In order to solve the nation's economic problems and end poverty, we examined how Newton's laws of motion might be applied. The first law outlines external forces that can be utilized to eradicate poverty, while the second law recommends the appropriate quantity of external forces that will maximize resources and effort and hasten Nigeria's economic progress and stability. Corruption, which permeates every level of the Nigerian government, is discouraged by the third law, commonly known as the Newton’s third law of karma. According to the paper's conclusion, we can escape the current economic snags and lift Nigerians out of poverty and instability by sincerely applying the suggested economic catalysts (external forces), which include lowering the cost of governance, investing in technology, export-oriented industrialization, SMART goals, the Pareto principle, and creating intrinsic motivation to prevent corruption by our government and citizens. These economic catalysts would help us overcome our current financial difficulties and elevate Nigerians out of poverty and unstable economic conditions.
Original Research Article
ABSTRACT
This study assessed the impact of renewable energy investment on sustainable economic development in Nigeria. Sustainable economic development was measured by the growth rate of gross domestic product, while renewable energy was proxied by solar, wind, and biomass. Data on these variables for the period 1990 to 2023 were analysed using the Augmented Dickey-Fuller unit root test, Johansen Cointegration test and the Error Correction Model approach. The unit root test result reveal that all the variables became stationary at first difference. The Johansen Cointgration test also reveal the presence of long run relationship among the variables. Findings from the ECM estimates show that investment in solar energy has a considerable positive impact on the growth of Nigeria’s gross domestic product, while investment in wind energy has an insignificant positive impact on the growth of Nigeria’s gross domestic product. The study also disclosed that investment in biomass has a non-negligible positive influence on the growth of gross domestic product in Nigeria. Based on these findings, the study concludes that investment in renewable energy contributes positively to sustainable economic development in Nigeria, and recommends that the Nigerian government should prioritize solar energy investment by creating favourable policies that attract both local and international investors, and as well, encourage collaboration among stakeholders in the agricultural, environmental, and energy sectors to develop a structured biomass energy policy that focus on converting agricultural waste into energy, thereby promoting environmental sustainability while contributing to economic development.
Original Research Article
ABSTRACT
In the past, Nigeria had enjoyed tremendous inflow of foreign capital, making it the highest recipient among developing countries. In recent years however, total capital inflow into the country has been on the decline reducing by about 31 percent between the fourth quarter of 2016 and that of 2020. Meanwhile, unemployment continued to rise, during these periods. This study therefore, investigated the impact of foreign capital inflow on unemployment in Nigeria, using data set from the period 1986 to 2022. Specifically, the study examined the impacts foreign direct investment, foreign portfolio investment, remittances, and international trade balance exert on Nigeria’s unemployment rate. Data collected were estimated using the augmented Dickey-Fuller unit root test, and the Autoregressive Distributed Lag (ARDL) Bounds technique. The unit root test confirmed that the variables were integrated of mixed order, while the ARDL Bounds test confirmed a long run relationship among the variables. Findings from the ECM model reveal that only foreign portfolio investment contributed significantly in the reduction of unemployment in Nigeria, while others had insignificant positive impacts. The study concludes that foreign capital inflow plays a vital role in reducing unemployment in Nigeria, and thus, recommended among others; robust development of the Nigerian capital market in order to make it more viable and stable so as to boost public confidence. Secondly, the security of investors’ funds should be guaranteed via macroeconomic policies that would enhance a competitive and interest yielding business environment.