An Islamic perspective on sustainable economic development: Nigeria as a case study

The recent global economic meltdown has become a great concern for the whole world that the solution to it is beyond the capacity of those who institutionalised the mundane economic system. Prior to the recent economic problem, many economic ideological paradigms had been put in place each of which has its shortcomings and disadvantages. While propounding various theories and coming up with numerous ideologies, not much consideration has been given to divine guidance on economic activities as embedded in the Holy Qur’an and practised by the Prophet and his companions. It is on the basis of this that this paper intends to discuss the Islamic economic principles as a means of sustainable economic development.