Transforming the Nigerian Agricultural Sector into an Agribusiness Model – the Role of Government, Business, and Society

This paper proposes that the transformation of the agric sector into an agribusiness model will contribute to repositioning Nigerian economy from its backwater position in the world’s economy. This proposition was investigated with the help of a review of literature and analysis of secondary time series data from the period of 2005–2014, which represented the contributions of the agricultural, manufacturing, oil and gas, and service sectors in Nigeria. One hypothesis was formulated and investigated with the t-test, correlation, and regression tests. The test results were positive and statistically significant at.05 alpha level, and they showed that agriculture has the potential to consistently have a significant effect in contributing to the growth of the Nigerian GDP both in the short and long run. These results justify the clarion call within the government and business sectors to diversify the economy and return to agriculture as the country’s bedrock for economic stability, especially as global economy becomes more volatile, uncertain, turbulent, and ambiguous. To this end, six strategies and twelve policy recommendations are suggested towards the implementation of a Structural Adjustment for Agribusiness Promotion (SAFAP) in Nigeria, and this is to be implemented as an action plan for pursuing a nationwide agricultural revolution. The paper concludes that, in view of its Vision 20:2020 to be among the top twenty economies in the world, Nigeria can become positioned to be a major player in global economy by diversifying from an oil-dependent economy into agribusiness and agric trade

KONKURENTNA PREDNOST NIGERIJSKE INDUSTRIJE OSIGURANJA: ULOGA INOVACIONE SPOSOBNOSTI

Emerging technologies have given rise to greater opportunities within the insurance sector with innovations upturning the traditional business model. This study examined competitive advantage and the relationship with innovation capability in Nigerian insurance sector. Employing a cross sectional research design, the study utilised primary data obtained from selected insurance companies through the use of a structured questionnaire. Multistage sampling technique was used and data collected was analysed using regression analysis. The findings revealed innovation capability had a significant influence on competitive advantage. The study concluded that there was a need to pay attention to this capability with a capacity to boost the activities of the industry and recommendations were made.Nove tehnologije su omogućile veće mogućnosti u okviru sektora osiguranja, gde su inovacije preokrenule tradicionalni biznis model. Ovaj rad proučava konkurentnu prednost i njen odnos sa sposobnošću za inovacije nigerijskog sektora osiguranja. Uz pomoć međusektorskog dizajna istraživanja, studija koristi primarne podatke dobijene od odabranih osiguravajućih kompanija uz pomoć strukturisanog upitnika. Korišćena je tehnika višefaznog uzrokovanja, a dobijeni podaci su analizirani uz pomoć regresivne analize. Rezultati su pokazali da je sposobnost za inovacije imala značajnog uticaja na komparativnu prednost. Studija zaključuje da postoji potreba da se obrati pažnja na ovu sposobnost sa mogućnošću da se pojačaju aktivnosti industriuje i date su preporuke