A Sustainable Approach to Economic Development in Nigeria: A Legal Perspective

Abstract

Economic development is the desire of all nations of the world but how to attain a sustainable economic development remains a challenge to many nations.  Different paradigms of development are being  considered globally and one of such paradigms is sustainable development.  Harmony between man and nature is the prerequisite for sustainable development.   There is now a transition to an agenda which  embraces the three dimensions of sustainable development, while still ensuring that poverty eradication as its highest priority and that extreme poverty is ended within a generation.  Until Nigeria begins to take this path, sustainable economic development will be a mirage.  The approach of this paper is to seek a sustainable approach to economic development in Nigeria.    The paper seeks to discover how to construct a dynamic equilibrium economy.  It will discuss the best practices that can make significant contribution to the emergence of sustainable economic development in Nigeria.  The paper will also discuss the essentials to sustainable economic development, drawing on economic development best practices as well as environmental best practices to create an integration of sustainability and economic development. The paper proposes recommendations on how to facilitate pragmatic, environmentally and socially sustainable economic development strategies to create sustainable economic development in Nigeria.   Harmony between man and nature is the prerequisite for sustainable development, depicting that the development of humanity should not be on the cost of environmental health.  The path of development adopted should be such that is always within such limit that nature allows, beyond which, a threat to survive is inevitable.  Until Nigeria begins to take this path, sustainable economic development will be a mirage.  The approach of this paper is to seek a sustainable approach to economic development in Nigeria.

Keywords:  Sustainable development, Environment, Economic Development