Vol 15 (2022)

Table of Contents

  1. Research Article
    Macroeconomic and Welfare Effects of Alternative Fuel Subsidy Switch and Policy Draw-backs in Nigeria PDF
    I. A. Agboje
    The purpose of this research is to examine the impact of premium motor spirit (PMS) subsidy reform and the deviant price increase on macroeconomic and household responses in Nigeria.  The study employed a computable general equilibrium framework, using the Nigerian input-output table, 2011 as base of analysis. Results showed that subsidy reallocation policy favoured all households. The incidence of 14% PMS mark-up price contributed to the maximum income earnings and expenditure of urban agricultural households by 2.89% each than other households. Consequently, mark-up price contributed more (₦22.35 billion) to social welfare loss in response to total subsidy withdrawal reallocation policy, than on phased-out subsidy reallocation policy (₦20.46 billion). Also, mark-up price favoured most macroeconomic aggregates excluding export and government spending. Thus, fuel subsidy reallocation could effectively curtail price shocks at any rate of subsidy withdrawal, provided the fuel market system is devoid of its pump price excesses.

  2. Research Article
    How Are SMEs with STEM Education Critical for a National Sustainability Development? PDF
    Abdisalam M Issa-Salwe

    A lack of comprehensive educational planning to help Somalia and the rest of the developing world achieve long-term economic development, improve inclusive growth, and reduce poverty is one of the most severe difficulties they confront. One area in which their educational programs fall short is science and technology development (in short, STEM- Science, technology, engineering, and mathematics).

    In recent decades, the globe has witnessed a major scientific and technological explosion. On the other hand, Somalia and the rest of the developing world have fallen behind. Failure to include science and technology into their educational curricula is one of the significant causes of failing to stay up with global development and losing national sustainable development. Education can aid in developing the skills, talents, and capabilities necessary for long-term viability.

    STEM education emphasises critical thinking and problem-solving skills as those with this skill set are more likely to be creative. Therefore, a country's ability to discover and produce new products is crucial to its economic prosperity and stability. To benefit from STEM skills, an area that requires focus is how SMEs (Small and Medium Enterprises) with STEM  may contribute to national sustainable development. SMEs are a solution for the country because they need less capital and have lower manufacturing costs.

    Setting up a STEM-based education system to develop SMEs (Small and Medium Enterprises) has become increasingly important in modernising and developing national economies. As a result, significant changes have occurred in recent decades. On the other hand, some countries strongly emphasise science and technology education, while others lack the motivation to do so. As a result, Somalia, like many other African countries, is falling behind.

    This research paper look will look at how Somalia's sustainability development program might benefit from SMEs with STEM backgrounds.