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Developing countries benefit from the registration of geographical indications (GIs) in the agricultural and artisan sectors. The extension of GIs to the artisan sector serves as a best practice to Nigeria. Nigeria has many indigenous forms of cultural artworks that are influenced by the environment. Artworks from places like Benin and other regions in Nigeria are location specific. This paper explores generally the utilization of GIs to protect cultural artworks and the monetary and nonmonetary benefits of such works. The trend of registering GIs to protect culture, arts, and traditional knowledge is crucial to the economic growth of Nigeria otherwise it deprives those dependent on the creation of cultural artworks of a means to benefit from their hard work by a process known to them for decades. [ABSTRACT FROM AUTHOR]

The need for economic development has preoccupied policymakers over the years. Especially the global south such as Nigeria, which is plagued with infrastructural deficit and less foreign direct investment and financial development attraction. This has drawn the attention of stakeholders and government officials for exploration of alternative routes for sustainable development, which is in line with the United Nations Sustainable Development Goals‐8 (UNSDG's). Thus, the current study focuses on the FDI‐led economic growth hypothesis if it holds or not for the case of Nigeria. The present study is distinct from previous studies in terms of scope by incorporation of more covariates, which has seemed to have been overlooked in the FDI argument. To this end, the current study re‐investigates the connection between FDI, financial development, total labour force, gross capital formation, and economic growth using Nigeria as a representation for Africa and Sub‐Saharan states specifically. Annual time‐series data from 1970 to 2018 is adopted for the econometrics analysis. Our study interest variables are foreign direct investment, economic expansion (GDP). The present study inculcates two additional financial development indicators; from the banking, and financial sectors. Using a battery of unit root and stationarity tests the study explores the stationarity properties of the outlined variables. Subsequently, the novel and recent robust Bayer and Hanck (2013) combined cointegration test in conjunction with Pesaran's ARDL bounds test was used to investigate the equilibrium relationship and regression analysis. While the Toda‐Yamamoto Granger causality was used to detect the direction of causality analysis among the variables. Empirical investigation traces a long‐run equilibrium relationship among the variables over the sampled period. Furthermore, empirical results show that FDI influences GDP, which suggests that FDI influences economic growth which is indicative of policymakers. Similarly, empirical outcomes establish a significant relationship between GDP and Financial Development from banking‐sector which is also corroborated in the causality results as an indirect causality is seen running from GCF to the financial sector. These outcomes suggest that FDI and Financial development are good predictors for sustainable economic growth in Nigeria. All aforementioned results have its inherent policy implications which are elucidated in the concluding remark of this study. [ABSTRACT FROM AUTHOR]

In academic studies of the interface between developing countries and large multinational oil corporations, scholars have noted that over time and through repeated interaction, the developing countries tend to negotiate better outcomes for themselves: they progress along a learning curve by incrementally improving their outcomes through bargaining and strategic interaction. This phenomenon can be demonstrated in a number of oil-rich developing countries. Nigeria's case, however, is more complex. During the two decades following its independence, the state successfully negotiated for more control over—made strides in the developing of the skills necessary to manage—its petroleum industry, as our model would predict. Then, in a puzzling late-1970s-to-mid-1980s change of course, the government abruptly gave back concessions, undermined local entrepreneurial endeavors, and repealed indigenization laws. This paper combines, in the analytic narrative tradition, the case study method with an extensive form game; it applies a dynamic bargaining model to Nigeria's historical experience, demonstrating that Nigeria improved its outcomes and ascended along the “bargaining learning curve,” only to reverse policy and “unlearn,” with serious consequences for the Nigerian population. Even so, the demonstration of both successful and improved outcomes in past negotiations give evidence that Nigeria could once again ascend its bargaining learning curve if the government were to re-commit to such a policy. [ABSTRACT FROM AUTHOR]