ASSESSING THE CONTRIBUTIONS OF ADJUSTED NET SAVINGS TO SUSTAINABLE DEVELOPMENT IN NIGERIA

Abstract

This study assessed the contributions of adjusted net savings of Nigeria to its sustainable development in the pre and post sustainable development goals adoption era. The ex-post facto research design was adopted  and a twenty (20) year period comprising 2005 – 2014 for the pre SDGs adoption era and 2015 – 2024 for the post SDGs adoption era was covered. Results of the analysed data using inferential regression analysis statistical tool through e-view version 12 showed that Adjusted Net Savings insignificantly contributed to sustainable development in Nigeria in the pre and post the SDG adoption era, though the extent of such contribution was positive and negative in both eras respectively (coefficient 0.576273 and -0.101577; p-values 0.3225 and 0.1183 respectively). The study concludes that macroeconomic stability alone is not enough as a measure of a nation’s economic wellbeing. The true measure of success will be how these reforms improve the daily lives of Nigerians, especially the poor and vulnerable. It was therefore recommended that measurement of government performance in terms of sustainable development should deemphasize the GDP metric and adopt such measures as inclusive wealth or comprehensive wealth and adjusted net saving which are more embracing than the GDP.