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Articles 1 - 30 of 38
Full-Text Articles in Social and Behavioral Sciences
Does Technological Innovations Affect Unemployment In Nigeria?, Ebunoluwa O. Oyegoke, Wasiu A. Yusuf
Does Technological Innovations Affect Unemployment In Nigeria?, Ebunoluwa O. Oyegoke, Wasiu A. Yusuf
Bullion
The study examines the effects of technological innovations on unemployment in Nigeria using annual time series data 1980-2018, Autoregressive Distributed Lag and cointegration bound testing approach, Technological innovations was provided by the inflow of FDI; importation of Machinery and Equipment as indicator for process innovation (ETC), Patent represents product innovation, while Total Factor Productivity serves as the exogenous technical progress in line with Solow. The result shows that the coefficient of the inward Foreign Direct Investments (INFDI) is positive (3.85), which is significant at 5%, indicating a strong positive effect of process innovation on Unemployment, Machinery and Equipment was also …
Corporate Income Tax And Manufacturing Sector Performance In Nigeria: A Panel Data Analysis, Ogudu George Nwoge, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi
Corporate Income Tax And Manufacturing Sector Performance In Nigeria: A Panel Data Analysis, Ogudu George Nwoge, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi
Bullion
The study examined the impact of corporate income tax on the performance of the manufacturing sector in Nigeria from 2013 – 2017. The ex-post facto research design was adopted for this study. The population of this study covered all the 23 registered manufacturing firms dealing with consumable foods in Nigeria. The sample of five manufacturing firms, dealing with consumable foods in Nigeria which represent 35% of the quoted manufacturing firms on the Nigerian Stock Exchange (NSE) market was selected for the study. This study made use of the fixed and random effect regression technique. The result showed that company income …
Addressing Infrastructure Gap Via Public-Private Partnership In Nigeria, Chiedu Ndubisi
Addressing Infrastructure Gap Via Public-Private Partnership In Nigeria, Chiedu Ndubisi
Bullion
This paper is arranged in nine Sections. It commenced by examining the issue of the nature of infrastructure and the implication for financing. It also looked at the catalytic role of infrastructure on economic growth and development, including the debilitating implication of its negligence by policy makers. next, the paper attempted at establishing the nexus between infrastructure and economic growth and development.
Demystifying The Microeconomic Foundation Of Economic Development In Nigeria: Evidence From Ease Of Doing Business Index, Imandojemu Kingsley
Demystifying The Microeconomic Foundation Of Economic Development In Nigeria: Evidence From Ease Of Doing Business Index, Imandojemu Kingsley
Bullion
The welfare of the citizenry in a modern economy depends critically on the state of the consumer behaviour of the household and the production decisions of business firms. Despite the efforts of the monetary authorities in supporting the micro-components of the economy and invariably improving the Ease of Doing Business in the country, very little has been done to evaluate their appropriateness in stimulating economic development. Against this backdrop, this paper critically examines the impact of supporting the microeconomic units on economic development in Nigeria.
Cbn Real Sector Financing For Inclusive Growth And Economic Development., Mudashiru A. Olaitan
Cbn Real Sector Financing For Inclusive Growth And Economic Development., Mudashiru A. Olaitan
Bullion
The fall in crude oil in the international market has expose Nigeria's vulnerability to external shocks and overdependence on a mono-product economy thereby presenting the opportunity for Nigeria to diversify its economy away from oil into agriculture, manufacturing services and other non-oil sectors. This paper examines the need to support key sectors that are drivers of growth and to also upscale its developmental finance initiatives targeted at economic growth, deepening of deepening of credit delivery to the real sector. The paper highlighted focal areas and the interventions by CBN in these areas to include Agricultural sector; Infrastructure; Manufacturing sector; MSMEs …
Msme Sector: The New Paradigm For Nigeria's Economic Development, Adewale M. Mustapha
Msme Sector: The New Paradigm For Nigeria's Economic Development, Adewale M. Mustapha
Bullion
MSMEs play a major role in most economies, especially in developing countries. This paper examines the opportunity provided by FSS2020 to enhance development of the MSME sector in Nigeria. The paper begins by examining the concept of FSS2O2O strategy for the MSME sector with specific focus on the six (6) Strategic Objectives and three (3) Transformational Programs to drive the development of the sector. These strategic objectives and the respective initiatives have a high multiplier effect on the entire Nigeria financial system. The six objectives ore: Advocate and Work with the government to Drive SME development, 2. Promote Financial Reporting …
External Management Reserve: Overview And Performance Of Major Asset Classes For The Period 2000-2016, Mujtaba Muhammad Farouk, Abdurrahman Abdullahi
External Management Reserve: Overview And Performance Of Major Asset Classes For The Period 2000-2016, Mujtaba Muhammad Farouk, Abdurrahman Abdullahi
Bullion
This paper discusses in detail, various asset classes available to both active and passive reserves managers and analyse the performance of the asset classes held mostly by central banks. Following an introduction, the paper is structured as follows: Section two reviewed literature on reserves management, including motives and what guides the decisions of the investment committee in determining asset classes. Section three analysed the various asset classes that reserves managers invest in, while section four evaluates the major central banks' asset classes' performance over the lost fifteen years covering the period before and after the 2008 global financial crisis. Section …
The Impact Of Relationship Marketing (Rm) On Relationship Quality (Rq): Empirical Evidence From Commercial Bank Customers In Nigeria., Sunny E. Ekakitie
The Impact Of Relationship Marketing (Rm) On Relationship Quality (Rq): Empirical Evidence From Commercial Bank Customers In Nigeria., Sunny E. Ekakitie
Bullion
The study set out to determine the impact of Relationship Marketing (RM) on relationship quality (RQ), with respect to the services Nigerian banks deliver to their clients. Three hypotheses were formulated to drive the study. Survey research design was adopted using a 48-item Likert style questionnaire to capture the opinions of valued clients. The study covered the six geo-political zones in Nigeria with 4 states drawn randomly from each zone. Extensive literature on RM and RQ were reviewed. Models/theories were lucidly discussed with the study evolving the quality/customer satisfaction model which is a modification of Zineldin's (2006) technical and functional …
Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba
Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba
Bullion
The study explores the the global rise in the operation of sovereign wealth funds in a number of commodity and non commodity exporting counties has been of tremendous magnitude. The fact that, most, if not all the oil exporting countries of the world today have SWF clearly confirms the many benefits of having a sovereign wealth fund. Section two of the paper provides a brief review of literature. Section three discusses the rationale for SWFs with some stylized facts. The impact of SWFs on the economy is discussed in section four, section five discusses the significance of SWFs while, an …
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada
Core Resources Of Corporate Strategy And Performance-Oriented Bank Management Practice: A Lesson For Nigeria, Andrew O. Agbada
Bullion
In the past three decades, the Nigerian banking industry has suffered from a host of vices namely miss-management, financial misappropriation, administrative recklessness, etcetera, reflecting incompetence on all levels of management and those have had dire consequences in the economy. In an attempt to re-position the industry on the path of performance, different governments in the past took various corrective steps to no avail. Thus this study seeks to explore the Core Resources of Corporate Strategy and Performance-oriented Bank Management best practice with a view to creating sustainable best practices in bank management in Nigeria. The findings from the study are …
Banking Reforms For Effective Monetary Policy Transmissions., O. A. Uchendu
Banking Reforms For Effective Monetary Policy Transmissions., O. A. Uchendu
Bullion
This paper evaluates the effects of the recent banking sector in Nigeria on monetary policy transmission. The remainder of this paper is structured as follows: section two dwells on the transmission mechanism of monetary policy; section three examines the features of the banking sector that affect the conduct of monetary policy; section four presents banking sector reforms in Nigeria while section five examines the impact of the reforms on monetary policy. Section six presents the challenges while section seven concludes the paper.
Banking System Credit As An Instrument Of Economic Growth In Nigeria, Andrew O. Agbada
Banking System Credit As An Instrument Of Economic Growth In Nigeria, Andrew O. Agbada
Bullion
Globally, banks in developing countries are expected to play very vital and effective roles in financing their economic projects and activities as their contribution in ensuring sustainable economic growth. This expectation is as a result of the fact that there is acute shortage of capital in the developing countries of the world. ln this paper, attempt was made to address how banking system credit can be used as an instrument of economic growth in Nigeria. The specific objectives that banking system credit were expected to achieve were also stated. lt's was revealed that though credits have increased tremendously in recent …
Nigerian Stock Market Reflection Of The Global Finance Crisis: An Evaluation, Sere- Ejembi A. A.
Nigerian Stock Market Reflection Of The Global Finance Crisis: An Evaluation, Sere- Ejembi A. A.
Bullion
With its roots in banking, the sub-prime mortgage crisis that commenced in the United States in 2007 soon resonated in other sectors of its financial system, and the economy, at large. It spread quickly to the developed economies in Europe, including the United Kingdom, and Asia. In the case of the Nigerian stock market, following initial relative insulation, the speed of contagion and response was comparatively slower. However, the effects began to manifest in the first quarter of 2008. The objective of this paper, therefore, is to review the global financial crisis, in the context of its recent effects on …
Central Bank Communication And Monetary Policy: The Case Of Central Bank Of Nigeria, Egbuna N. E.
Central Bank Communication And Monetary Policy: The Case Of Central Bank Of Nigeria, Egbuna N. E.
Bullion
The importance of concise communication in monetary policy making cannot be over emphasised . A g o o d communication of policy definitely strengthens the institutional independence of central banks and enhances the effectiveness of monetary policy. However, no one single method could fit all when it comes to designing good communication strategies because central banks face different constraints as they try to fine-tune their messages. With current reforms and financial liberalization, there is added impetus for increased communication between the Central Bank of Nigeria (CBN), market operators, stakeholders and the public in general. Monetary policy needs to be explained …
Electronic Banking In Nigeria: Problems And Prospects From The Consumer's Perspective, Agbada A.O
Electronic Banking In Nigeria: Problems And Prospects From The Consumer's Perspective, Agbada A.O
Bullion
This paper explores the adoption of electronic banking [e-banking] in Nigeria. It examines the problems and prospects of e-banking in Nigeria from the consumer's perspective. The research findings show that a number of problems ranging from human, operational and technical constraints hinder the maximum utilization of services provided through e-banking channels in Nigeria. However, the results from the study have also revealed that despite these problems, the rate of adoption of e-banking services in Nigeria is phenomenal as banks have recorded outstanding successes in some areas. Nigeria is a consuming nation and based on the experience from other sectors of …
Investing Africa's External Reserves In Africa: Issues, Challenges And Prospects, Onwioduokit A. E.
Investing Africa's External Reserves In Africa: Issues, Challenges And Prospects, Onwioduokit A. E.
Bullion
The paper underlined the challenges and opportunities for managing Africa's external reserves by Africans after identifying several pre-conditions for an African currency to emerge as international currency and noted that these conditions have not yet crystallized in Africa. Although African external reserves have grown over time the benefits of such growth in terms of facilitation of domestic financial markets and even the earning are not commensurate with the reserves growth rate. The non-convertibility of African currencies, volatile macroeconomic and sometimes volatile political environment coupled with the shallowness of the domestic markets are the main challenges that are faced by the …
Is Nigeria Ready For Inflation Targeting, Mbutor O. Mbutor
Is Nigeria Ready For Inflation Targeting, Mbutor O. Mbutor
Bullion
Inflation Targeting as a framework for monetary policy implementation simply describes a policy framework in which central banks accept and announce the realization of certain forecast targets of inflation, over a given time period, as the measure policy anchor and are accountable for deviations from actual inflation from the said target. The primary goal of the paper was to expose the prospects and challenges facing the implementation of inflation targeting in Nigeria. To put the subject in proper perspective, common terminologies often used in discussing lT were defined. The preconditions for effective lT were also highlighted. The paper has argued …
Conceptual Issues On Savings In Nigeria., A. J. Adam, A. V. Agba
Conceptual Issues On Savings In Nigeria., A. J. Adam, A. V. Agba
Bullion
It is often held that capital accumulation is necessary and sufficient condition for growth and capital accumulation is almost synonymous with saving, hence the route to growth is then one of raising savings and smoothing consumption (Deaton, 1991). Savings is one of the key relevant macroeconomic variables in any economy. Its impact on the rate of capital accumulation, productivity and the degree of dependency of a nation on foreign capital and foreign ownership of domestic assets cannot be overemphasised. This paper reviews conceptual issues on savings behaviour in Nigeria. It also provided an analysis of the factors that may have …
Understanding The Pension Reform Act(Pra) 2004, Adesina Balogun
Understanding The Pension Reform Act(Pra) 2004, Adesina Balogun
Bullion
Pension schemes exit to provide post-retirement I benefits to employees. Pension scheme was introduced into Nigeria during the Colonial era to provide old age income and security to British citizens working in the country upon retirement. This paper discussed the conceptual framework of Pension Reform Act 2004, the dynamics of Pension Reform Act of 2004, the implications and challenges of Pension Act of 2004 as well as feasible options for future developments. The study concluded that, The roles and functions of PFAs and PFCs are Pivotal to the success of the new defined contributory scheme. It behoves on them therefore, …
Investments And Risk Management Under The New Pension Scheme., Luka A. Dalang
Investments And Risk Management Under The New Pension Scheme., Luka A. Dalang
Bullion
Pension today, has become a topical issue. one that has engaged the commitment of government, attention of employers and workers not only in Nigeria but also in many developing and emerging economies of Africa, Asia and Latin America This paper discuss the trend of investments and pension schemes with its risks and challenges in Nigeria. The study however confirmed the non applicability of the financial reform theory hypothesized by McKinnon and Shaw in Nigeria.' . The National pension Commission guidelines as mentioned earlier, are designed to ensure transparency, integrity and objectivity in the vestment process. and to ensure that the …
Is The Nigerian Curricula In Economics Relevant For The Nigerian Economy Of The 21st Century., J. A. Achilike
Is The Nigerian Curricula In Economics Relevant For The Nigerian Economy Of The 21st Century., J. A. Achilike
Bullion
The loopholes in Nigeria's educational system have created a death of capacity in the Nigerian economy. No nation can develop without qualitative education. The paper examines the relevance of the economics curricula in Nigeria's tertiary institutions in meeting the challenges of the 21st century. It highlights its problems and examines the efforts of National University Commission and Ministry of Education in meeting the challenges of economics education in Nigeria. Finally the study concludes that, the Nigerian Economics curricular is critically under developed and does not follow government economic policies, but if all the recommendations are adopted the Nigerian economics curricula …
Review And Appraisal Of 2003 Budget And Economic Performance., Ige S. Cyril
Review And Appraisal Of 2003 Budget And Economic Performance., Ige S. Cyril
Bullion
The first set of problems in realizing the benefits of a national budget in Nigeria, the 2003 Federal Government Budget in particular, is the delay in formulation and presentation to the National Assembly. This paper examines various definitions of the national budget as understood by some of the important stakeholder. It discusses budget implementation and management, budget 2003 and the people, strengthening programming as a basis of budgeting for development, and co-ordination of economic management in 2003. Finally, the study concludes that NEEDS is a welcome idea but its goals will prove difficult to achieve because of the flaw in …
Understanding And Interpreting Financial Statements, Awoyungbo B. O.
Understanding And Interpreting Financial Statements, Awoyungbo B. O.
Bullion
As the owners of a company the shareholders, through its Board, are responsible for the hiring and firing of the management of their company. The principles of company finance are therefore based upon the assumption that the objective of management is to maximise the wealth of its ordinary shareholders. This paper discusses some of the general principles which are applied in the preparation of financial statements. It lists and explains the following components of a financial statement; Statement of Accounting Policies, Balance Sheet, Profit and Loss Account, Notes to the Accounts, Cash flow statements ,Value added statements, Five year financial …
The Impact Of The Operations Of The Non-Bank Financial Institutions On Financial Sector Stability, Bamisile A. Sesan
The Impact Of The Operations Of The Non-Bank Financial Institutions On Financial Sector Stability, Bamisile A. Sesan
Bullion
The Banks and Other Financial institutions Act (BOFIA) defines an NBFI to mean "any individual, body, association or group of persons; whether corporate or unincorporated, other than the banks licenced under the Act which carries on the business of a discount house, finance company and money brokerage and whose principal object include factoring, project financing, equipment leasing, debt administration, fund management, private ledger services, investment management, local purchase order financing, export finance, project consultancy financial consultancy, pension fund management and such other business as the Bank may, from time to time, designate". This paper affords the opportunity to explain and …
Evaluation Of Past Policy Measures For Solving Unemployment Problems., Nicholas A. Damachi
Evaluation Of Past Policy Measures For Solving Unemployment Problems., Nicholas A. Damachi
Bullion
The issue of persistent unemployment and overall manpower planning and utilization poses a great challenge to policy planners, human resources experts, and persons dealing with employment programmed planning and implementation. This paper undertakes a review and evaluation of the past policy measures that have been adopted to solve unemployment problems in the county. There is strong need for institutional collaboration and improved coordination of policy measures for dealing with unemployment. This paper has examined Past policy measures for solving unemployment problems. There is strong need for institutional collaboration and improved coordination of policy measures for dealing with unemployment. While there …
Off-Shore Borrowing And Guarantees By Banks: Implication For Portfolio Management., C. C. Edordu
Off-Shore Borrowing And Guarantees By Banks: Implication For Portfolio Management., C. C. Edordu
Bullion
The subject I have been asked to reflect on is important and somewhat provocative given the potential significance of foreign capital in the development process and the implied doubt the topic raises about the capacity of banks to manage their portfolios on accessing external finance. With regard to financing tenors, it is pertinent to point out that the tenor of liabilities of most banks in Nigeria and Africa is short. The paper has focused on the various discussions about the conditions for good governance, which raises questions about the structure and functioning of the state, its relationship to society and …
The Role Of Governance In National Development., Nathaniel C. Ozigbo
The Role Of Governance In National Development., Nathaniel C. Ozigbo
Bullion
One of the principal issues in the analysis of development is the extent to which the state and corporate organizations influence it. Prevailing ideas about the links among democracy, good governance and economic growth have come almost full circle over the past three decades. Governance is defined as the good government of society. Good government guides the country along a course leading to the desired goals, in this case development. The paper has focused on the various discussions about the conditions for good governance, which raises questions about the structure and functioning of the state, its relationship to society and …
The Role Of Development Finance Institutions (Dfis) In The Financing Of Small-Scale Industries (Ssis)., O. E. Essien
The Role Of Development Finance Institutions (Dfis) In The Financing Of Small-Scale Industries (Ssis)., O. E. Essien
Bullion
The post-independence Nigerian government adopted the import-substitution large-scale industrialisation strategy to accelerate the country's industrial development. Industrial output as well as industry's contribution to the gross domestic product (GDP) declined in the face of the strong national aspiration for the restructuring of the economy and reduction of the dependence on petroleum. Small and medium scale industries have since become the focus of national industrial policy. ln order to put our discussion into proper perspective, we need to know what we mean by SSls in the Nigerian context. The following are the current official definitions of industrial enterprises adopted by the …
Non-Oil Exports Promotion. Concepts, Issues And Prospects., Kola D.
Non-Oil Exports Promotion. Concepts, Issues And Prospects., Kola D.
Bullion
The most recent data available on the structure of the Nigerian ^ economy are those for year 2000, which reflect the current structure and the main features of the economy. (see Annex 1) They indicate that the agricultural sector accounted for 41 .5o/o of the nation's GDP, while manufacturing contributed 5.95%, finance and insurance, 9.59%, crude petroleum, 10.42%, wholesale and retail trade, 11.58%, and government services 9.35%. It is a well-known fact that primary non-oil products dominated Nigeria's export trade and formed the bedrock of her economy in pre and immediate post-independence era. The issues discussed include the definition of …
Financing And Promoting Small-Scale Industries. Concept, Issues And Prospects., C. M. Anyanwu
Financing And Promoting Small-Scale Industries. Concept, Issues And Prospects., C. M. Anyanwu
Bullion
The importance of small-scale industries in promoting industrialization and economic growth has been recognized globally. This paper discusses the concepts and issues that are associated with the financing and promoting of small scale industries. Nigeria is blessed with vast natural resources, including oil, gas and solid minerals, already confirmed to exist in commercial quantities. Small-scale industries development can be used for achieving the objectives of the poverty alleviation programme of the Government, given that they are highly labour intensive. Nigeria is blessed with vast natural resources, including oil, gas and solid minerals, already confirmed to exist in commercial quantities. She …