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The government's income influences its expenditures in public finance; its ability to spend is based on its anticipated revenue. That is why, all other things being equal, the government's ability to raise a given amount of money determines how well its economy performs throughout a fiscal year. For this reason, there is a strong emphasis on raising significant revenue to fund other government needs and developmental projects. Any nation's revenue base is key to driving its economic growth. Achieving multiple sources of income will be a mirage in a mono-economy. Therefore, economic diversification is commonly understood to move an economy away from a single source of income towards many sources derived from an expanding array of markets and sectors. The theoretical frameworks used in this study are primarily based on portfolio theory, which views diversification as reducing risk or variability as long as the price changes of the various stocks in an investment portfolio move in different directions or are not perfectly correlated. Herfindahl-Hirschman Index (HHI) model was adopted for the analysis. The findings indicate that revenues from the agricultural, industrial, and services sectors significantly and positively influence Nigeria's economic growth beyond the oil sector's contributions. The Nigerian government should implement policies that stimulate various sectors of the economy to enhance revenue generation for the nation

Economic diversification reduces economic vulnerability to external shocks by transforming the economy from a single income source to multiple sources of income. This can be spread over to various sectors, involving large sections of the population to improve economic performance for sustainable growth. However, given that Nigeria runs a mono-economy, complete diversification of the economic activity base has remained a key challenge for the country. The paper seeks to analyse the development of entrepreneurial firms in emerging economies for economic diversification in Nigeria. This paper used secondary data and applied a quantitative approach in the data analysis. Data were obtained from Nigeria Central Bank Statistical Bulletin (1989–2019). Nigeria’s economic diversification index was derived as the inverse of the Herfindahl-Hirschmann concentration index (HHI). Regression analysis was used to analyze the relationship between index of economic diversification, the initial diversification index (DIV_INDEX), entrepreneurial firms’ business investment value (EFBV) and credit to entrepreneurial firms (CEFs). It was also used to analyse the credit to the private sector (CRP), domestic savings (DSAV), and inflation rate (INF). The result showed that Nigeria is still at a low concentration index of 3.8 and 3.9, respectively, in terms of economic diversification. The paper recommended that given the potential of entrepreneurial firms in creating multiple sources of income for Nigeria’s economy, development planners and policy-makers are expected to create adequate policy frameworks to galvanise the activities of entrepreneurial firms in Nigeria.

In recent times, little is known about the level of gender inequality in the Nigerian labour /industrial market and how such inequality is explained by the characteristics of men and women in the labour market. Consequently, this study investigates women's socio-economic status in employment opportunities in Nigeria. They study adopted a secondary data method. It used the 2008/2009 harmonised survey data especially the labour and employment component. Within the framework of Mincer type specification of wage equation, this study estimates ordinary least squares (OLS) at different levels of education. Heckman's two-step sample selection model was used to control for possible selection bias in the wage equation since this is always present in sample truncation. To explain gender gaps in earnings at different levels of education, Oaxaca type decomposition technique was employed in the analysis. The results show that there is a huge gender earnings gap to the disadvantage of women in the Nigerian labour market and that the level of this gap declines as the level of education increases. The study also finds that endowments which arc the observed characteristics of men and women work to reduce the level of gender earnings gap significantly. This study recommends among other things, that government should ensure girls obtain higher educational qualifications by providing them support beyond primary and secondary education. Also, women should be encouraged to participate in the nonwage labour market activities since most of these activities have higher earnings potential.

The effect of health burdens on labour productivity in Africa's middle and low-income economies in the advent of Covid-19 pandemic was investigated in this paper. It employed Common Correlated Effects (CCE) estimation of Heterogeneous Dynamic Panel data Models to estimate a sample of 45 African countries with 30-panel series from 1990 to 2020. The authors discovered that the Covid-19 epidemic has aggravated the catastrophic health burdens (morbidity and mortality rates) in the panel countries. It shows that health burden has dynamic negative long-term spilling effect on labour productivity, such that a 1% increase in health burden, ceteris paribus, would reduce labour productivity by 13% in the upper middle income economy, 17% in the lower middle income economy, and 19% in the low-income economy, respectively. The findings also show divergence effects; with low- and lower-middle-income nations bearing the highest brunt of health burden crises due to Covid-19 pandemic and its mitigation measures, even in the face of inadequate health systems, lowering their labour productivity. As a result of this finding, an increase in health burdens devalues these countries' labour assets and raises the health risk of overburdened economies. The paper proposes that Africa countries should develop a regional inclusive health scheme with a financing target to raise the health system with particular attention to the low and lower-income countries. A healthy child grows into a productive adult in the future; hence the African Union should enact and enforce a regional health program that provides free child healthcare.