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Volume 01 - Issue 03


Paper Title :: Financial Literacy and New Venture Performance in Developing Economies
Author Name :: Emmanuel Lubem Asenge || Salome Onyeje Anyebe || Simeon Terhile Nomhwange
Country :: Nigeria
Page Number :: 01-05
The level of financial literacy in developing countries is lower and running a business exposes owners/managers to distinct challenges to manage. The need for financial literacy in developing countries has been emphasized by many scholars. Financial literacy is considered as an antidote for the growth and performance of new ventures especially in developing economies where most entrepreneurs lack financial knowledge in running businesses. This paper was carried out to ascertain the effect of financial literacy on the performance of new ventures in developing economies with particular reference to Nigeria. The study reviewed different literatures on the subject matter and most studies established a significant relationship between financial literacy and business performance. The studies also showed that financial literacy significantly influence the survival and growth of small scale businesses. This study therefore concludes that financial literacy is considered as a catalyst that helps entrepreneurs to face stiff competition by constantly making informed decisions to produce quality products to meet customers' needs in the market.
Keywords: Financial literacy, New Venture Performance, Small and Medium Scale Enterprises
[1]. Abiola, B. (2011). Microfinance and micro and small enterprises (MSES) survival in Nigeria: a survival analysis approach. Global Journal of Management and Business Research, 11(11), 79-88.
[2]. Agarwal, S., Amromin, G., Ben-David, I., Chomsisengphet, S., &Evanoff, D. D. (2010). Learning to cope: Voluntary financial education and loan performance during a housing crisis.The American Economic Review, 100(2), 495–500.
[3]. Altman, M. (2012).Implications of behavioural economics for financial literacy and public policy.Journal of Business and Management, 8 (23)
[4]. Bloom, N., Mahajan, A., McKenzie, D. & Roberts, J. (2010). Why Do Firms in Developing Countries Have Low Productivity? American Economic Review, 100 (2), 619-623.
[5]. Bruhn, M., Karlan, D.&Schoar, A. (2010) "What Capital Is Missing in Developing Countries?" American Economic Review, 100 (2), 629-33.

Paper Title :: Investigation of effect of crude oil consumption on economic growth in oil exporting countries: Panel data analysis
Author Name :: Nagmi Aimer || Mustafa El. Hamoudi
Country :: Turkey
Page Number :: 06-14
This paper examines the effects of oil consumption on the economic growth of oil-exporting countries (Algeria, Angola, Canada, Russian, Iran, Nigeria, Kuwait, and Venezuela). Accordingly, the study was adopted on panel cointegration and panel vector error correction modeling techniques, during the period (1997-2013) through the panel fully modified ordinary least square (FMOLS) approaches and dynamic ordinary least square (DOLS) methods. The results showed the data are unstable at the level and are stable when taking the first difference. Results indicate there are a long-term equilibrium relationship between the oil consumption and the economic growth of the countries concerned. In this context, the results of the study indicate the significance of all the independent variables means that there is a short-term relationship between the variables, and through the negative signal and the significance of the coefficient of error correction coefficient means that there is a long-term relationship between the variables. Consequently, there are a two-way causality relationship between economic growth and oil consumption in the short and long term. Thus, in order to reduce reliance on crude oil from policy makers in countries, more attention should be paid to the issue of energy efficiency programs.
Keywords: Oil Consumption;Economic Growth;Panel Data;FMOLS.
[1]. Aimer, N. M. M. (2016a). Conditional Correlations and Volatility Spillovers between Crude Oil and Stock Index Returns of Middle East Countries. Open Access Library Journal, 3(12), 1.
[2]. Aimer, N. M. M. (2016b). The effects of fluctuations of oil price on economic growth of Libya. Energy Economics Letters, 3(2)(2308–2925), 17–29.
[3]. Aimer Nagmi. (2017). The role of oil price fluctuations on the USD/EUR exchange rate: an ARDL bounds testing approach to cointegration. Journal of Asian Business Strategy, 7(1), 13–22.
[4]. Akarca, A. T., & Long, T. V. (1980). On the relationship between energy and GNP: a reexamination. The Journal of Energy and Development, 5(2), 326–331.
[5]. Akpolat, A. G., & Altintaş, N. (2013). Enerji Tüketimi İle Reel Gsyih Arasindaki Eşbütünleşme ve Nedensellik İlişkisi. Bilgi Ekonomisi ve Yönetimi Dergisi, 8(2).

Paper Title :: Violation of dialectic discourse in the drama of Samuel Beckett
Author Name :: Majid Sarsangi || Hamed Soleimanzadeh
Country :: Iran
Page Number :: 15-20
Drama was changed fundamentally with the beginning of post-modernism and due to various multi-dimensional events and these changes included lack of hero and champion, inability of dialogue in formation of oral disputes and so on. Samuel Beckett, Irish playwright, had suitable understanding of social relations of modern and post-modern age based on lack of individual identity and self-alienation and left traditional structure of drama and its triple dimensions that was a sign of dialectic triad (beginning as thesis, middle as anti-thesis and end as synthesis) and gained another arrangement in dramatic elements due to the date conditions of arrangement of drama elements, in which dialectic discourse is gone out of its credit realm. Beckett disagrees with this issue that the drama should have beginning mid and ending or the characters should be fixed and the assumption that the action and plot are two main elements of creating drama. Despite to structure of dialectic discourse of classic drama, something that is tangible in dramas of Beckett is paradox, in which some situations are repeated with unclear beginning and ending. Hence, Beckett has created a free, novel and non-dialectic discourse with the violation of aspects of dialectic discourse in all structural elements of drama, which is aimed crating single thinking and not collective challenge.
Keywords: discourse, dialectic, moderndrama, post-moderndrama,Samuel Beckett
[1]. Ebrahimian, F., (2004), art and beyond supernatural, Tehran: Publication of Namayesh.
[2]. Strathern, P, (2008), Introduction to Beckett, the Amir Ahmadi Aryan, Tehran: Markaz Publication
[3]. Aslyn, M, (2009), absurd theater, be: MahtabKalantari and MansurehVafayi, Tehran: Publication Ame
[4]. Aslani, Amin (2001), Death and Beckett (Proceedings), Tehran: Afraz Press
[5]. N Paul James, (2001), Postmodernism, trans: HosseinNozari, Tehran: Nazar Publication

Paper Title :: Building a more democratic Union – political and institutional issues at hand: How to support further democratisation of the EU by stronger public involvement and institutional reforms?
Author Name :: LOTHAR HEYMANS
Country :: Belgium
Page Number :: 21-29
Looking at the democratic legitimacy of the European Union, there is a lot of negativism to be found. Not only scholars or national leaders but also the better part of the European citizens do not have the feeling that the European Union as a whole can be described as democratic. There are several reasons to be found for this which will be handled in the first part of this essay.The main terms used as a criticism towards the EU are ‗democratic deficit' and ‗elitism'. Explaining these terms can help us finding ways to improve the democratic legitimacy of the Union. On the other hand, itneeds to be said that the European Union made some changes throughout the years towards more democratic legitimacy but there is still a long way to go.
[1]. Ballesteros, M. D. L. P. P. & D.R.T. (2017). El modelo de integración europea de Churchill. Revista de Occidente, (433), 57-71.
[2]. Bonde, J.-P. (2011, Spring -). The European Union's Democratic Deficit: How to fix it. The Brown Journal of World Affairs, pp. 147-162.
[3]. Chochia, A. & D.R.T. (2015). Winston Churchill And The European Union. Baltic Journal of Law & Politics, 8(1), 55-81.
[4]. Citizens for Europe. (2017, December 9). European Institute for Public Participation. Retrieved from citizensforeurope.eu: http://www.citizensforeurope.eu/organisation/european-institute-for-public-participation
[5]. Eur-Lex. (2017, December 9). Democratic Deficit. Retrieved from Eur-Lex: http://eur-lex.europa.eu/summary/glossary/democratic_deficit.html

Paper Title :: European Security and Defence Policy
Author Name :: Lore Coignau
Country :: Belgium
Page Number :: 30-38
In 1998, the British and French government sign an agreement at St. Malo, which gave the EU governments the opportunity to pave their political path by launching the European Security and Defence policy (ESDP) at the Cologne European Council in 1999. This agreement stated that ―the European Union must have the capacity for autonomous action, backed up by credible military forces, the means to decide to use them, and a readiness to do so, in order to respond to international crises‖ (Rutten, 2001).
[1]. Arloth, Jana and Seidensticker, Frauke. The ESDP Crisis Management Operations of the European Union and Human Rights (Berlin: German Institute for Human Rights, April 2007).
[2]. Bah, A. Sarjoh and Jones, Bruce D. ‗Peace Operations Partnerships' in Center on International Cooperation, Annual Review of Global Peace Operations 2008 (Boulder, CO: Lynne Rienner, 2008).
[3]. Ballesteros, M. D. L. P. P. & D.R.T. (2017). El modelo de integración europea de Churchill. Revista de Occidente, (433), 57-71.
[4]. Chochia, A. & D.R.T. (2015). Winston Churchill And The European Union. Baltic Journal of Law & Politics, 8(1), 55-81.
[5]. European Commission, From warning to action: Reportage on the EU's Instrument for Stability (Luxembourg: Office for Official Publications of the European Communities, 2008).

Paper Title :: Common European defence policy: the discussion on the European army
Author Name :: Kato Van de veire
Country :: Belgium
Page Number :: 39-49
EU army is inevitable says senior German official (The Telegraph, 2017)" this quotes the topic of this essay. The discussion on the European army is a topic that is already playing in the EU history since the beginning of the creation of a common Europe. In the view of these recent statements and the fact that the UK is leaving the EU, this debate has never been higher on the agenda than ever. Even though this policy field still stays a sensitive point when it comes to national sovereignty. A lot member states realise that with the current geopolitical climate the need for a strong European Defence and Security policy is necessary to show the EU as a strong global actor.
[1]. Ballesteros, M. D. L. P. P. & D.R.T. (2017). El modelo de integración europea de Churchill. Revista de Occidente, (433), 57-71.
[2]. Chochia, A. & D.R.T. (2015). Winston Churchill And The European Union. Baltic Journal of Law & Politics, 8(1), 55-81.
[3]. Consilium European Union, CEE. (2017) timeline: EU cooperation on security and defence. Consulted at 6th of December 2017, retrieved from: http://www.consilium.europa.eu/en/policies/defence-security/defence-security-timeline/#
[4]. Die Welt, DW. (2017). Twenty-five EU states sign PESCO defensepact. Consulted at 12th of December, retrieved from: http://www.dw.com/en/twenty-five-eu-states-sign-pesco-defense-pact/a-41741828
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Paper Title :: EU-Russia Multilateral or Bilateral Relations ?
Author Name :: Elizaveta Gordienko
Country :: Belgium
Page Number :: 50-56
The European Union is the biggest business and political partner of Russia in Europe. This is due to the common history and geography and economic complementarity and the accumulated experience of cooperation. Today, the EU accounts for around 35 - 37% of foreign trade turnover of Russia and more than a third of foreign investment in its economy. The parties are also active political dialogue, and jointly fight against international organized crime and terrorism, which makes their relationship a strategic partnership. - Russia cooperation, the EU relies on the Agreement on partnership and cooperation (signed on 24 June 1994 and entered into force on 1 December 1997) is the most comprehensive document in the international contract practices on both sides, and counter-strategy of development of mutual relations. Relations EU - Russia is largely preferential, privileged character. Therefore, in addition to a complete use of possibilities of the PCA, the parties shall jointly develop a concept for the formation between them of a common European economic space (Chochia, 2015).
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Paper Title :: How to keep the wind in the EU's sails ?
Author Name :: Anna Koskela
Country :: Belgium
Page Number :: 57-63
Ever since 2009, it has been a rough ride for the European Union, as there has been a crisis, after a crisis, after a crisis. The three most significant issues that the European Union has needed to tackle lately have been initially the debt crisis, that had to do with Greece, Spain, Cyprus, Portugal and Ireland. The second wave of difficult issues for the European Union to solve was the migrant crisis that suddenly blew up in 2015. then, the newest difficulty for the unity of the European Union has been Brexit, which comes from the words "Britain" and "Exit", which is the currently ongoing process of Britain leaving the European Union, dropping the number of EU Member States from 28 to 27.
[1]. Azzam, M. The radicalization of Muslim Communities in Europe - Local and Global Dimensions, Brown Journal of World Affairs, Volume XIII, Issue 2, 2007 p. 123.
[2]. Ballesteros, M. D. L. P. P. & D.R.T. (2017). El modelo de integración europea de Churchill. Revista de Occidente, (433), 57-71.
[3]. Chochia, A. & D.R.T. (2015). Winston Churchill And The European Union. Baltic Journal of Law & Politics, 8(1), 55-81.
[4]. Färber, K. Et al, (2017). Mitterrand and the Great European Design—From the Cold War to the European Union. Baltic Journal of European Studies, 7(2), 132-147.
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Paper Title :: The Government's role in filling the gaps of support to SMEs in Mozambique
Author Name :: Sawaya Alen || Bhero Shepherd
Country :: Mozambique
Page Number :: 64-72
Government policy in any country is designed to create the appropriate mechanism and leverages for the proper functioning of the economy. One important section of the economy is the Small and Medium Enterprises (SMEs). SMEs are credited for bringing economic growth and alleviating the plight of unemployment. On their own, SMEs face various difficulties and are prone to failure if they don't get the support they merit. Support to SMEs can come from many fonts, such as financial institutions, large enterprises, non-governmental organizations, and so on. The government sector is another, and perhaps the important rear guard of support to SMEs. Besides simply offering support the government is regarded as an arbitrator in supervising the support offered by other institutions. The objective of this research is to evaluate the supervisory role the government plays in overseeing the delivery of support to SMEs in Mozambique. A sample of 485 SMEs was drawn from the population of SMEs in greater Maputo representing Mozambique as a whole, using random sampling methods. A face to face interview was conducted using structured, close-ended questionnaires to collect the primary data. The study found that there was limited support offered to SMEs by all institutions in Mozambique, partly due to the paucity of the government in supervising and coercing these institutions into playing their roles. It was recommended that the government should take a more proactive role in the form of incentives such as tax inducement, to ensure more support is dispensed to SMEs.
Keyword: Government, Maputo, Small and Medium Enterprises (SMEs), Support Structures,
[1]. AfDB (2011). Republic of Mozambique: Country Strategic paper 2011-2015, available online: http://www.afdb.org/fileadmin/uploads/afdb/Documents/Policy-Documents/Mozambique (accessed 15 June 2017).
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Paper Title :: Models with a social perspective for the management of digital inclusion processes
Author Name :: Jheimer Julián Sepúlveda López || Luz Arabany Ramírez Castañeda || José Ismael Peña Reyes
Country :: Colombia
Page Number :: 73-83
The information and communication technologies (ICT) are tools that are used, expecting to improve the life quality of the communities, as well as their individuals. There are programs and projects that are carried out by using these tools, in order to approach this type of technologies to the underprivileged communities, being this phenomenon labeled as digital inclusion. In this paper, there was performed a revision of diverse models for the management of digital inclusion processes, that propose in their concepts, the use of variables, elements and relations, that go further the quantitative and demographic aspects, and that are focused in the social perspective of this phenomenon. A primary conclusion could be that the models are focused on the users; since most of these models perform a revision of the expectations and perceptions, that communities have about the new technologies or tools, that they want to use with the purpose of improving their life quality, as well as their participation in society.
Keywords: digital inclusion, digital gap, social perspective, management models.
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[2]. J. M. Gonzáles Zabala, M. P., & Sánchez Torres, "Análisis de las estrategias del Gobierno colombiano para la inclusión de los ciudadanos en la Sociedad de la Información propuestas desde 2000 hasta 2011," Rev. Estud. Soc., pp. 133–146, 2013.
[3]. P. B. Brandtzaeg, J. Heim, and A. Karahasanovic, "Understanding the new digital divide-A typology of Internet users in Europe," Int. J. Hum. Comput. Stud., vol. 69, no. 3, pp. 123–138, Mar. 2011.
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Paper Title :: Political architecture and relation between architecture and power
Author Name :: Fahimeh Yari || Seyedamir Mansouri || Jelena Žurić
Country :: Iran
Page Number :: 84-90
Central aim of this paper is discussion about architectural manifestation, methods used in architecture to express aspirations andconnections of urban and architectural hierarchywith the social occurrences andpolitical context.It is familiar that the role of politics, authority and power of government, democracy and diplomacy are tightly connected with architecture, which means that architecturethrough its great communicational powers, can be used for political and social objectives. Since the relationship between the authority and architecture is being reviewed, the paper will focus on the buildings with purpose of serving the authority itself. Presence or absence of the social and political consciousness among architects reflect their status and role in a political system, making their influence equally significant. In that context, this paper will also reflect on their presence and contribution during architectural history. The research method of this paper is descriptive analytical analysis of the relationship between architecture and politicsin various political regimes.
Keywords: Political architecture, Architecture, Identity, Power, politic
[1]. Captain Patrik James Kolesiak, USAF, B. Arch, a Thesis, Architecture as a diplomatic tool: A proposal for the new American embassy in Baghdad, Iraq, 2006
[2]. Dr Alice Sabrina Ismail, Architecture as an expression of political ideology,
[3]. Natasha DimitrovaGuenova, Form follows values: Explaining Embassy Architecture, A Dissertation for Doctor of Philosophy Degree, The University of Tennessee, Knoxville, 2012
[4]. Paul Rabinow, The Foucault reader, Pantheon Books, New York, 1984
[5]. Sylvain de Bleeckere, Style and Architecture in a Democratic Perspective, Universiteit Hasselt

Paper Title :: Digital Financial Literacy
Author Name :: Mrs Sumaiya Fathima
Country :: India
Page Number :: 91-96
Literacy rate in India is uneven and lack of low-level computer skills pose a huge challenge, A majority of population cannot be expected to use online portals and e-wallets. As per reports social media and email accounts for 70% of internet usage in rural India .. It is no longer possible to get things done without the means of information technology as we live in a world that is influenced by and controlled with technology. . India being a cash based economy needs to reduce high dependence on cash to bring transparency and efficiency in the system
Keywords: Literacy, Population , social media , technology
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[3]. http://www.ictacademy.in/pages/Digital-Empowerment.aspx
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Paper Title :: Hotel Business In Crisis Period
Author Name :: Hüseyin Dinç
Country :: Turkey
Page Number :: 97-112
Despite the overall prevalence of the hospitality sector, which is known as one of the most important branches of tourism, it is still one of the most affected by the crises. Against crises that come with economic difficulties, businesses should start with managing the crisis. In the management of crises of enterprises, it is emphasized on scenario building, tactical development and preparation studies. Crisis studies have been examined under to define the crisis, to form crisis teams, to freeze the crisis, to solve the crisis and to benefit from the crisis headings. In the second stage, crisis intervention varieties were included. First, interventions under the title of change were examined. Secondly, interventions have been investigated by reducing costs. Thirdly, interventions were investigated in other crisis interventions at the level of staffing, coaching, leadership, institutional and public relations. In the third stage, in order to reflect the situation of the hospitality during crisis periods; investments, occupancy rate, length of stay, number of tourists, tourism incomes, room income and average room price were examined. In addition, the crises and their consequences, which had an impact on the hospitality sector between 2006 and 2017, were emphasized.
Key Words: Crisis Management, Hotel Business, Hotel Occupancy Rate, Economic Crises, Political Crises
[1]. Akıncı, Zeki; Kayalar, Murat ve Demirel, Osman Nuri; (2012). Konaklama ĠĢletmelerinde Kriz Yönetimi: Yöneticilerin Kriz Yönetimi YaklaĢımına Yönelik Bir Uygulama, Finans Politik ve Ekonomik Yorumlar, (49) 572: ss.79-100.
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Paper Title :: Synthesis of Some Previous Studies on Professional Integration: Topics Addressed and Methodologies Adopted
Author Name :: EL BARDIY Latifa || LOUHMADI Abdeljalil
Country :: Morocco
Page Number :: 113-120
In this paper we develop a literature review on the relationship between human capital and professional integration. Our purpose is to synthesize the topics and methods adopted by 52 previous empirical studies dealing with the issue of the professional integration of graduates by closely analyzing their research design, and their employed methodology. Therefore, we have selected studies using micro-economic data; developed in various territorial contexts; and published in indexed journals. Using the N'VIVO software, our synthesis allowed us to note four research topics approached by the literature consulted: Determinants of access to employment; Quality of the job held; Professional integration trajectories and mobility; and Perception of Actors. Also, we have found that the diversity of the methodologies adopted in the treatment of each topic according to the types of data collected. The objective of this literature review is to provide a theoretical support for the analysis of the professional integration of graduates.
Key Words: Human Capital - professional integration – Literature revie
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[2] ROSS FINNIE (2001); "Fields of plenty, fields of lean: the early labour market outcomes of Canadian university graduates by discipline"; THE CANADIAN JOURNAL OF HIGHER EDUCATION, VOL. XXXI, NO. 1, 2001; P. 141-140
[3] GENEVIEVE FOURNIER, RENÉ PELLETIER, et CHANTALE BEAUCHER (2002); « Types et trajectoires d'insertion socioprofessionnelle de jeunes diplômés: caractéristiques et profil sociodémographique »; THE CANADIAN JOURNAL OF HIGHER EDUCATION. VOL. XXXII, NO. 3, 2002 PAGES 49-48
[4] GENEVIEVE FOURNIER, RENE PELLETIER, et CHANTALE BEAUCHER (2003), « Insertion en emploi de jeunes diplômés : diversité, compromis et incertitude » ; CANADIAN JOURNAL OF COUNSELLING I REVUE CANADIENNE DE COUNSELING / 2003, VOL. 37:2. P: 116-134.
[5] MARC MOLGAT et MIRCEA VULTUR (2009) ; « L'insertion professionnelle des jeunes québécois diplômés et non diplômés de l'école secondaire. Quel rôle joue la famille ? » ; RECHERCHES SOCIOGRAPHIQUES, VOL.50, N°1, 2009. P41-66.

Paper Title :: Padlet Online Discussion in Enhancing Students' macro Critical Thinking Skills
Author Name :: Mohan Rathakrishnan || Rahayu Ahmad || Lee Jun Choi
Country :: Malaysia
Page Number :: 121-126
Online discussion has become one of the important strategies for the teacher to teach the students to think critically in conveying their ideas and become more proactive and creative.Although there are two types of critical thinking skills: macro and micro critical thinkingbut in this paper,padlet online discussion communication (PODBC) was conducted to examine its effectiveness in enhancing students macro critical thinking.A total of 70 Universiti Utara Malaysia Management Foundation Programme students involved in this experimental research design. The students in treatment class are divided tofew groups. Every group uses back channel padlet online discussion to discuss the topic given. All the group members discuss and write their ideas in padlet. Ideas that are posted in padlet will be displayed in front of the class so that the entire group in the treatment class could see the given ideas. Paul's model was used to analyze student's macro critical thinking in padlet online discussion backchannel communication.The finding shows that students who used padlet online discussion backchannel communication have greater macrocritical thinking level than students who do not use back channel.
Keywords: Padlet, BackchannelCommunication, Macro Critical Thinking,
[1]. Anderson, T. (2003). Modes of interaction in distance education: Recent developments and research questions. In M. Moore & G. Anderson (Eds.), Handbook of distance education (pp. 129- 144). Mahwah, NJ: Erlbaum.
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Paper Title :: The Gap in the Policy and Practice of Early Childhood Care Development and Education (ECCDE): Universal Basic Education (UBE) Component in Nigeria
Author Name :: Abdulrahman Yusuf Maigida
Country :: Nigeria
Page Number :: 127-133
The gap between the policy and practice of early childhood care, development and education (ECCDE) as an integral part of the Universal Basic Education (UBE) is the thrust of this paper. Contained in the National Policy on Education (NPE), 2004, 2013 editions and the UBE Act, 2004 is the recognition of ECCDE as a component of UBE. An official policy documentation of ECCDE as a component of UBE remains a mere policy statement. In practice, particularly the 6-3-3-4 system of education; the 6years of primary schooling which is given as the first level of education is accorded priority. ECCDE has truly received policy attention, but not yet a practical and serious government's enforcement. The points to the fact that the significance of ECCDE is yet to be well appreciated, except for the private individuals (proprietors of schools) whose aim of involvement in the early childhood education is profit making, rather than its contributions to the social and economic growth of the country. The objectives of this paper are focused on conceptual clarifications, emphasising the significance of ECCDE as a component of UBE and capturing its relevance to overall growth of the country's social and economic development. The various problems of ECCDE from both the global and local perspectives are highlighted, indicating the gap between policy and practice. The paper did not conclude without identifying possible and workable solutions to the problems. Suggestions are ultimately rendered calling on government and other stakeholders to be responsive and pragmatic in playing their roles to bring about the needed national growth and development.
Keywords: Gap, Policy, Practice, Early-Childhood Care, Development, Education, Universal Basic Education
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