African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4036

Full Length Research Paper

Strategies for achieving sustainable economy in Nigeria taking into consideration the acceptable stakeholders

Ogbo, A. I.
  • Ogbo, A. I.
  • Department of Management, Faculty of Business Administration, University of Nigeria, Enugu Campus, Enugu, Nigeria.
  • Google Scholar
Eneh, Nnajiofor C. J.
  • Eneh, Nnajiofor C. J.
  • Department of Management, Faculty of Business Administration, University of Nigeria, Enugu Campus, Enugu, Nigeria.
  • Google Scholar
Agbaeze E. K.
  • Agbaeze E. K.
  • Department of Management, Faculty of Business Administration, University of Nigeria, Enugu Campus, Enugu, Nigeria.
  • Google Scholar
Chukwu, B. I.
  • Chukwu, B. I.
  • Department of Management, Faculty of Business Administration, University of Nigeria, Enugu Campus, Enugu, Nigeria.
  • Google Scholar
Isijola, D. O.
  • Isijola, D. O.
  • Federal University of Technology, Akure, Nigeria.
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  •  Received: 23 October 2016
  •  Accepted: 19 January 2017
  •  Published: 14 October 2017

Abstract

The downward trend in the Nigerian economy has become a source of worry to both the leaders and the led, making it difficult for the managers of businesses to make the decision for sustainable businesses. This work looks at the explosion of the Nigerian population from the year 2005 to date, the modern state of the Nigerian economy and the failed strategies tried in the past, with a look at the acceptable stakeholders, sustainable economy, and the strategic priorities to be considered in the Nigerian context. Theories of modernization (showing the five take off stages), sustainable development, and human development (with the five key capitals) were used to analyze the problem of achieving a sustainable economy in Nigeria. The triple-bottom-line strategy was seen to be a possible solution to the impending problem of unstable economy in Nigeria, intending to social responsibility, environmental protection, and economic priority.

Key words: Sustainable economy, strategic priority, stakeholders.