Economic Recession in Nigeria: Lessons from Umar Ibn Al-Khattabs Economic Policies

Authors

  • Khalid Ishola Bello Kwara State University, Malete, Nigeria

DOI:

https://doi.org/10.15575/as.v26i2.39427

Keywords:

early period of Islam, hardship, lessons, recession, spiritual.

Abstract

Abstract: Economic conditions are dynamic and can shift from prosperity to adversity, affecting individuals and nations alike. This paper examines the socio-economic recession during the early Islamic era under the leadership of Umar ibn Al-Khattab, exploring its causes, remedies, and eventual recovery. Umar's governance, marked by compassionate leadership, adaptive policies, and resource prioritization, provides valuable lessons for addressing contemporary economic challenges. Nigeria, facing economic recessions characterized by unemployment, inflation, and resource mismanagement, can use these lessons to mitigate its economic woes. The study employs a historical and content analysis of early Islamic economic policies, a comparative analysis of Nigeria's current challenges, and policy reviews. It highlights the need for empathetic leadership, legislative flexibility, effective resource allocation, and integration of Islamic social finance mechanisms, such as zakÄt and waqf, into Nigeria's socioeconomic framework. Nigeria can enhance its economic resilience and inclusivity by fostering transparency, social justice, and collaboration while addressing systemic inequities.

Author Biography

Khalid Ishola Bello, Kwara State University, Malete

department of Religions, History and Heritage Studies, Kwara State University, Malete senior Lecturer

References

Abey, A. and Anne, M. "Nigeria the Largest Economy in Africa: A Paradox of Economic Growth Hypothesis."EPRA International Journal of Economic and Business Review (JEBR) 2, no. 2 (2014): 15-24. Accessed 12th April, 2024. https://eprajournals.com/IJES/article/9288.

Adagba, O. S. “Evaluation of Performance of Code of Conduct Bureau (CCB) and Code of Conduct Tribunal (CCT) in Combating Corruption in the Nigerian Public Service, Unpublished Dissertation of Ahmadu Bello University, Zaria, Nigeria, 2012, 132

Adeoye, B.W., and A.A. Atanda. "Exchange Rate Volatility in Nigeria: Consistency, Persistency, and Severity Analyses."CBN Journal of Applied Statistics 2, no. 2 (2005).

Adinugraha, H.H. "The Economic of Umar bin KhattÄb Policy in Modern Economic Policy." In The First International Conference on Law, Business and Government 2013. UBL, Indonesia. Accessed 12th April, 2024. https://media.neliti.com/media/publications/175656-EN-the-economic-of-umar-bin-khattab-policyi.pdf.

Al-Harithiy, J.A. Al-Fiqhu’l-Iqtisadi li Amiri’l-Mu’min Umar Ibn Al-Khattab. Jeddah: Daru’l-Andalus Al-Khatra’u, 2003.

Ash-Shaykh, N.A.I. Al-Hayatu’l-Iqtisadiyyah wa’l-Ijtimaciyyah fi’l-Madinati’l-Munawwarah. KSA: Tuhamah Press, 2009

Asolaabiy, A.M. Biography of Umar Ibn Al-Khattab: His Personality and His Era. Beirut: Darul Marifah, 2005

Benjamin, S.S. "Economic Recession in Nigeria: A Case for Government Intervention."SSRG International Journal of Economics and Management Studies (SSRG–IJEMS) 4, no. 6 (2017): 39- 53

Carl, D. "Technology, Globalization, and International Competitiveness: Challenges for Developing Countries." Accessed 12th April, 2024. http://www.un.org/esa/sustdev/publications/industrial_development/1_2.pdf. 49.

Firdaus, D.H. "Analysis of the Economic Policy of Umar Ibn Al-Khattab Radiallahu anh: Sharia Business Perspective."Journal of At-Tahdzib 1, no. 2 (2013): 84.

Goje, K. "Domestic Revenue in the Era of Umar bin Khattab: An Analytical Study in the Light of Sunnah."Journal of Hadith Studies 2019. 40-52

Goje, K. "Economic Situations in the Era of Umar bn Khattab: An Analytical Study."Journal of Hadith Studies 3, no. 1 (November 2018)

Goje, K. "Economic Situations in the Era of Umar bn Khattab: An Analytical Study."

Ibrahim, A.A. Umar bin Khattab Ijtihad fi Ardissawad. Oman: Jordan, 2008.

Ibrahim, A.S., et al. "An Analysis on the Causes and Effects of Recent Economic Recession on the Nigerian Economy."International Journal of Social Science and Humanities Research 4, no. 6 (2018): 453. Accessed 10th April, 2024. www.researchpublish.com.

Ismail, S. "Economic Policy of Umar bin Khattab Radiallahu anh."Journal of Management & Accounting 2, no. 1 (2011)

Jamaludin, K. "Economic Policy of Caliph Umar ibn Khattab." Accessed 12th April, 2024. https://mpra.ub.uni-muenchen.de/87819/.

Monday, E.D. and E.E. Gerald. "The Political Economy of Recession in Nigeria’s Fourth Republic."African Journal of Political Science and International Relations 11(7), (2007)

Nigeria’s Finance Act 2020: Insights series and sector analysis, accessed from https://www.pwc.com/ng/en/assets/pdf/nigeria-finance-act-2020-insights-series-and-sector-analysis.pdf

Nkwatoh, L.S. and H.A. Nathaniel. "Effect of Insecurity on Economic Growth in Nigeria."Journal of Economics and Management Sciences 1, (2), 2018: 60-71.

Nwogwugwu, O.N. “Revenue Mobilization Allocation and Fiscal Commission (RMAFC) and Salaries of National Assembly Members: An Ethical Examination (2007 – 2013)â€, Arabian Journal of Business and Management Review (OMAN Chapter), Vol. 5, No.5; December 2015, 1-12

Ogochukwu, O.N. "The Oil Price Fall and the Impact on the Nigerian Economy: A Call for Diversification."Journal of Law, Policy and Globalization 48 (2016): 74-89 Accessed 10th April, 2024. www.iiste.org.

Ogwola, R. I., Olofu, D. A. and Aneke, C. A. “National Social Investment Programmes in Nigeria: A Descriptive Analysis of the Socio-Economic Contributions of N-Power Programme in Benue State†Management Studies, Jan.-Feb. 2024, 12 (1), 9-20 doi: 10.17265/2328-2185/2024.01.002

Olusegun, B. S. “Nigeria Public Procurement Act and the War Against Corruption: Identifying the Missing Link,†Journal of Public Administration, Finance and Law, Issue 31/2024,

Onah, F. N. and Ugwuibe, C. O. “N-Power Programmes and Poverty Reduction in Nigeria: Enugu State Experience†Journal of Economics and Allied Research, 7 (3) (September, 2022) ISSN: 2536-7447

Onah, R. C. Olise, C. N. “National Social Investment Programme (NSIP) and Sustainable Poverty Reduction in Nigeria: Challenges and Prospectsâ€, IOSR Journal Of Humanities And Social Science (IOSR-JHSS) 24 (10), Series. 11 (October. 2019) 20-31, e-ISSN: 2279-0837, p-ISSN: 2279-0845., accessed from https://www.iosrjournals.org/

Oniha, P. "Management of Recession and Exchange Rate Crisis: Policy Options."Central Bank of Nigeria Economic and Financial Review 55, no. 4 (December 2017).

Osunkeye, O. "Global Economic Crisis and its Implication for Nigeria."The Nigeria Newspaper Online Publication. Accessed 10th April, 2024. www.ngrguardiannews.com.

Pratama, M.A. "Leadership and Constitutional Concepts of Umar Ibn Al Khattab."Journal of the History of Islamic Civilization 2, no. 1 (2018): 53.

PUNCH, “N160bn SUVs: Reps take delivery, senators await luxury jeeps this weekâ€, accessed from https://punchng.com/n160bn-suvs-reps-take-delivery-senators-await-luxury-jeeps-this-week/#google_vignette

Sacid, A.J. Siyasatu’l-Mal Fi’l-Islam fi cAhdi Umar bn Khattab wa Muqaranatihabi’l-Andhumati’l-Wadiciyyah. Qatar: Maktabatu’l-Madaris, n.d. 73

Saif, A.M. Al-Hayatu’l-Iqtisadiyyah wa’l-Ijtimaciyyah fi Njdi wa’l-Hijaz fi cAsri’l-Umawi. KSA: Mu’assasat Risalah, 2009.

Ugoani, J.N. "Mismanagement and Reform Failures in Nigeria: Historical Perspectives."Independent Journal of Management and Production (IJM&P) 8, no. 2 (2017): 502. Accessed 10th April, 2024. http://www.ijmp.jor.br.

Zahra, P.S., and S. Herman. "The Economic Policy of Umar bin Khattab to Face Ramadhan Crisis."Islamic Economics and Business Review 2(1) (2023): 49-57

Downloads

Published

2024-12-30

How to Cite

Bello, K. I. (2024). Economic Recession in Nigeria: Lessons from Umar Ibn Al-Khattabs Economic Policies. Asy-Syari’ah, 26(2), 147–162. https://doi.org/10.15575/as.v26i2.39427

Issue

Vol. 26 No. 2 (2024): ASY-SYARI'AH

Section

Articles

Citation Check

License

Copyright (c) 2024 Khalid Ishola Bello

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

The author whose published manuscript approved the following provisions:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Attribution-ShareAlike 4.0 International (CC BY-SA 4.0) License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).