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• We rely on a multi-sectoral balance-of-payments constrained growth model that incorporates intermediate imports. • We explicitly incorporate the effects of intermediate imports and relative prices into the analysis. • The outcome of the study shows that the MBPCG model correctly predicts Nigeria's growth path. • The manufactured exports is one of the main determinants of the intermediate import demand function. • Actual economic growth rates in the Post SAP era (1987–2018) are below the balance of payments constrained growth rates. This study seeks to ascertain whether the Multi-Sectoral Balance of Payments Constrained Growth model is suitable to explain Nigeria's growth experience from 1981 to 2018. The paper explicitly incorporates the effects of intermediate imports and relative prices into the analysis. We employ the autoregressive distributed lag econometric procedure for the analysis. The outcome of the study shows that the Multi-Sectoral Balance of Payments Constrained Growth model correctly predicts Nigeria's growth path. It was found that manufactured export is one of the main determinants of the intermediate import demand function. Considerable reliance on this type of import to produce final exports could reduce the gains from trade, thus adversely affecting the GDP growth of the economy compatible with the BoP constrained growth model in the long run. [ABSTRACT FROM AUTHOR]

The informal sector is an integral part of several sub-Saharan African (SSA) countries and plays a key role in the economic growth of these countries. This article used a comparative systematic review to explore the factors that act as drivers to informality in South Africa (SA) and Nigeria, the challenges that impede the growth dynamics of the informal sector, the dominant subsectors, and policy initiatives targeting informal sector providers. A systematic search of Google Scholar, Scopus, ResearchGate was performed together with secondary data collated from grey literature. Using Boolean string search protocols facilitated the elucidation of research questions (RQs) raised in this study. An inclusion and exclusion criteria became necessary for rigour, comprehensiveness and limitation of publication bias. The data collated from thirty-one (31) primary studies (17 for SA and 14 for Nigeria) revealed that unemployment, income disparity among citizens, excessive tax burdens, excessive bureaucratic hurdles from government, inflationary tendencies, poor corruption control, GDP per capita, and lack of social protection survival tendencies all act as drivers to the informal sector in SA and Nigeria. Several challenges are given for both economies and policy incentives that might help sustain and improve the informal sector in these two countries. [ABSTRACT FROM AUTHOR]