Strategic Sustainable Development: An Integrated Evaluation of Economic, Environmental, and Social Welfare in Nigeria

Abstract

The current study focuses on the integrated assessment of the effect of some Nigeria socioeconomic strategies on the development of Nigeria in the economy, environment and social welfare. A mixed method approach was used to gather and analyse the data of this study. An ex-post-facto research design and secondary data econometric analysis from 1990 to 2022, along with a qualitative content analysis of Nigeria's National sustainability policies, was used. The real GDP per capita, GHG, CO2, and other hazardous gas emissions due to the deforestation, as well as social welfare included in the model as key metrics of were quantitatively evaluated and analysed. The findings of the study, from the Augmented Dickey-Fuller test, Johansen co-integration, FMOLS, and a thorough check of the DOLS, indicate that GHG emissions and deforestation of per capita income and human development of the country drop significantly, while foreign direct investment of the country has a positive impact, although it may take a long time. The rise of poverty and social welfare strata and the rise of the degrading environment of the country (i.e. confirming the economics-environmental-social welfare correlation). The study concludes that Nigeria needs integrated approaches that highlight the extension of renewable energy sources, the strengthening of institutions, the enhancement of governance in the forests, and greater investment in people. It advocates that Nigeria renewable energy policies should focus on cross-sectoral sustainability and the SDGs.