The Concept Of “Sustainable Development” And The Challenges Of Economic Growth And Development In Nigeria

by

Gabriel Gyang Dung

Bridget Mlumun Akaakohol

J.C. Akor

Department of Economics,

College of Education, Katsina-Ala,

 
 
Abstract
This article takes an analytical look at the theory of the concept of “sustainable development” with special reference to its underlying pillars or domains and the principles that should guide strides towards economic growth and development among nations in order to attain results that could be considered as balanced, just and equitable for generations both in the short and long run. The general global imperatives which make the application of sustainable development principles to growth and development efforts urgent were also highlighted. Against this background, the authors then critically examined the twin concepts of economic growth and development and followed this up with highlights of growth and development challenges of the Nigerian economy. The study posits that the mode of current resource extraction and usage in the economy would appear to overemphasize the needs of the present and that corruption and self-seeking and/or inept leadership separately and jointly constitute the bane of Nigeria’s growth and development efforts. On the basis of these, a number of conclusions were drawn, followed by recommendations for redress.