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Full-Text Articles in Social and Behavioral Sciences
The Nigerian Economy, Monetary Policy And Covid-19: An Unholy Trinity, Polycarp Ishaku Mikloda Ph.D
The Nigerian Economy, Monetary Policy And Covid-19: An Unholy Trinity, Polycarp Ishaku Mikloda Ph.D
Bullion
This article presents the dynamics of an unholy trinity involving the interplay of economic forces in the thick of a crippling health crisis with monetary policy to the rescue through activation of relevant instruments. In response to the outbreak, the Monetary Policy Committee announced several policy measures which include granting of extension of loan moratorium on principal repayments, interest rate reduction on all intervention loan facilities from 9% to 5%, establishment of a N50bn targeted credit facility to household and MSMEs and regulatory forbearance to banks and credit support to the healthcare industry among others. it is worthy to state …
The Role Of Agriculture In The Economic Diversification Of The Nigerian Economy: (1980 – 2016), Adamu Hassan Muhammad, Tahir Hussaini Mairiga, Iliya Ayuba Thompson, Usman Ismaeel Bello
The Role Of Agriculture In The Economic Diversification Of The Nigerian Economy: (1980 – 2016), Adamu Hassan Muhammad, Tahir Hussaini Mairiga, Iliya Ayuba Thompson, Usman Ismaeel Bello
Bullion
This study empirically examines the role of agriculture in the diversification of the Nigerian economy, using time series data from 1980–2016. Estimation results using Cointegration and Vector Error Correction Technique indicate that agricultural output has a positive relationship and significant impact with non-oil exports (NOE) and that non-oil revenue has a positive relationship with non-oil exports (NOE). It was recommended that, government should endeavor to increase agricultural productivity by improving its expenditure on the sector so as to enhance the growth of the economy. Government should also increase its non-oil revenue and revive the sector through sufficient budgetary allocation and …
Microfinance Credit And Micro Enterprise Development In The Agricultural Sub-Sector Of The Nigerian Economy, Ademola A. Adebisi
Microfinance Credit And Micro Enterprise Development In The Agricultural Sub-Sector Of The Nigerian Economy, Ademola A. Adebisi
Bullion
This study seeks to examine the relevance of micro financing credit loans to Agri-business in Lagos State, Nigeria - the development of Agricultural sub-sector centering the attention to the contribution of the institutions involved in the provision of these credits.It makes a critical review of the performance of microfinance institutions in Nigeria, based on a survey of the Agricultural Credit Guarantee Scheme Fund (a microfinance scheme established to boost the agricultural sub-sector of Nigeria). The study examines the scheme – the institutions involved and analyses the performance using the outreach paradigm via the mixed approach research techniques – qualitative and …
Analysis Of The Causal Link Between Economic Growth And Development In Nigeria (1960-2019), Muhammad Umar
Analysis Of The Causal Link Between Economic Growth And Development In Nigeria (1960-2019), Muhammad Umar
Bullion
Taking cognizant of Nigeria's recent policies toward translating growth to meaningful development, this study aimed at analysing causality amid economic growth and development using annual series from 1960-2019.The study engaged vector autoregressive method by embracing Toda and Yamamoto 1995 model. The results reveals a bidirectional causality between economic growth and dependency ratio; population growth rate and economic growth and also it reveals the evidence of uni-directional causality from dependency ratio to life expectancy and from population growth to life expectancy. But economic growth and life expectancy as well as dependency ratio and life expectancy does not present evidence of causality.
Keynote Address On Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Central Bank Of Nigeria Executive Seminar, G.I. Emefiele
Economic and Financial Review
This is a keynote address delivered by the Governor of Central Bank of Nigeria at the 2016 executive seminar with the theme "financing government programmes in economic downturn - the role of central bank of Nigeria
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
Economic and Financial Review
The author examine both the traditional and developmental roles central banks plays in financing government programmes/projects.
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Economic and Financial Review
This author examines the various policy options for the manufacturing sector of the economy in an economic downturn.
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Economic and Financial Review
The paper reviews the strategies for strengthening the existing sources of traditional finance in Nigeria and also, introduces new sources of innovative finance that will be suitable for funding government development programmes, as well as, the SDGs Agenda 2030. Furthermore, the possible role of the central bank vis a-vis the government fiscal authorities in the management of some sophisticated financial instruments which is increasingly gaining momentum as part of innovative development finance is discussed.
Gross Domestic Product (Gdp) Rebasing And The Impact On Nigeria's Investment Environment, Bismark J. Rewane
Gross Domestic Product (Gdp) Rebasing And The Impact On Nigeria's Investment Environment, Bismark J. Rewane
Bullion
The paper looks at the impact of the rebasing on an important economic variable - investment. This is because investment is necessary for capital accumulation and economic growth. Specifically, this study examines the impact of GDP rebasing on Nigeria's investment environment. ln addition to this introduction section, section 2 considers GDP rebasing and the Nigerian case, section 3 is on the Nigerian Financial System Strategy (FSS) 2020, section 4 is on investment types, drivers and the Nigerian environment, section 5 offers some lessons for Nigeria and section 6 is the summary and conclusion.
Gdp Rebasing And Implications For Fss 2020., Oluwatoyin Jokosenumi
Gdp Rebasing And Implications For Fss 2020., Oluwatoyin Jokosenumi
Bullion
A resilient economy founded upon a reliable financial system, is attainable upon the creation and management of a sound and progressive economic statistics and indicators such as the Gross Domestic Products (GDP) and other scholars’ parameters. This paper examines the GDP rebasing and its impact on Nigeria’s investment. The paper explains the concept of GDP; the need to maintain a strategic GDP; how it is computed and / or rebased. This is then followed by examining its implications, on all economic programs.
Foreign Direct Investment Trade Nexus In Nigeria: Do Structural Breaks Matter?, S. Mohammed, B. L. Ekundayo
Foreign Direct Investment Trade Nexus In Nigeria: Do Structural Breaks Matter?, S. Mohammed, B. L. Ekundayo
Economic and Financial Review
ln this paper, three innovations are introduced to the literature on the Foreign Direct Investment (FDl) -trade nexus; identification and consideration of structural breaks in the underlying time series data; use of disaggregated data set that captures the oil and non-oil dichotomy of the Nigerian economy; and introduction of identified break in the short-run model. We found the existence of a co-integrating relationship between the variables amidst observed breaks in 1980 and 1992. Thus, considering structural breaks in estimations can not be downplayed as ignoring this may yield biased and inconsistent estimates. Findings revealed a one-way causal linkage between non-oil …
The Recent Financial Crisis And The Special Financing Interventions By The Central Bank Of Nigeria: Implications For The Real Sector Of The Nigerian Economy, O. O. Mbutor, D. J. Yilkudi
The Recent Financial Crisis And The Special Financing Interventions By The Central Bank Of Nigeria: Implications For The Real Sector Of The Nigerian Economy, O. O. Mbutor, D. J. Yilkudi
Bullion
This paper reviews the impacts of the crisis on the real sector of the Nigerian economy and highlights the various special financing intervention schemes, which the Central Bank of Nigeria (CBN) has wielded in a bid to reverse the down turn in the sector.
Petroleum Industry Linkages And Nigeria's Economic Development, Chinyere U. Nwolisa, Chinyelu N. Ugoji
Petroleum Industry Linkages And Nigeria's Economic Development, Chinyere U. Nwolisa, Chinyelu N. Ugoji
Bullion
Nigeria, Africa's most populous country and potentially its largest economy, has witnessed decades of dictatorship and misrule. Accompanying this misrule are severe economic problems of an unprecedented magnitude. This paper intends to add further clues to the solution for this national developmental puzzle. The remaining part of the paper is arranged thus: Part 2 presents an overview of the Nigerian Petroleum industry while the part 3 looks at the literature of economic development the country appears to be executing. Parl4 discusses the various linkages the Petroleum industry offers visa-vis Nigeria's exploration of their potentials. The penultimate part will offer some …
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 …
Challenges Of Exchange Rate Volatility In Economic Management In Nigeria., Charles N.O Mordi
Challenges Of Exchange Rate Volatility In Economic Management In Nigeria., Charles N.O Mordi
Bullion
The motive behind initiating an exchange rate policy, an integral element of monetary policy, is to preserve the value of the domestic currency, maintain favorable external reserves and ensure the realization of price stability in the domestic economy. The pursuance of these goals is to ensure external balance without compromising the need for internal balance and macroeconomic stability. It is important that the monetary authority, in its bid to designing an appropriate and sustainable exchange rate policy framework, addresses issues that are fundamental to the introduction of the policy itself. This paper discussed the challenges of exchange rate volatility management …
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 …
Public Policy And Industrialization In Nigeria., A. J. Adam
Public Policy And Industrialization In Nigeria., A. J. Adam
Bullion
This paper is concerned with evaluation of government policies on industrial development in Nigeria with specific reference to the effects of public policy on Nigeria's industrialization. Following an introduction is section two which examines conceptual and theoretical issues. Section three is the review of public policy in Nigeria. Section four focuses on policy evaluation and comparative analysis of experience of other countries. Section five provides the concluding remarks and recommendations. The paper observes that government has a role to play in the industrialisation process by providing infrastructures; help overcome market failures; assist develop money and capital markets; make economic information, …
Financial Small-Scale Business Under The New Cbn Directive And Its Likely Impact On Industrial Growth Of The Nigerian Economy., O. J. Nnanna
Financial Small-Scale Business Under The New Cbn Directive And Its Likely Impact On Industrial Growth Of The Nigerian Economy., O. J. Nnanna
Bullion
This examines the prospects of the current drive to ensure efficient and sustainable credit delivery system to the SSls. The rest of the paper is divided into three broad sections. The first section reviews and appraises past financing programmes / schemes, highlighting the major constraints on their performance. The current initiative of the Bankers' Committee is discussed in section two, focusing on its likely impact and underscoring the needed complementary policy measures. Section three summa-rises and concludes the paper.
Interstate Economic Co-Operation: Issues And Options., Sarah O. Alade
Interstate Economic Co-Operation: Issues And Options., Sarah O. Alade
Bullion
The main objective of this paper is to present a brief discussion of issues and policy options involved in interstate economic co-operation in Nigeria, and the rationale for economic co-operation among states as well as issues of economic co-operation.
Interstate Trade And Economic Development In Nigeria., Ukwu I. Ukwu
Interstate Trade And Economic Development In Nigeria., Ukwu I. Ukwu
Bullion
The economy is characterized by low industrial development, predominantly poor population and low agricultural production. The paper presents an analysis of the present size and structure of the Nigerian Domestic market, examine the patterns of trade among states and zones, and consider what needs to be done to improve the domestic trade system and enable it play its appropriate role in the overdue of transformation of the Nigerian economy. Finally, the study reveals that economic development of any state or group of states can be improved if they take advantage of economic integration. The relatively low level of economic development …
The Cbn As A Catalyst To National Economic Policy And Development., J. O. Sanusi
The Cbn As A Catalyst To National Economic Policy And Development., J. O. Sanusi
Bullion
The paper examined the activities of the Bank into perspectives, particularly with the often-mis-construed belief the CBN should be held accountable for all the woes of the Nigerian economy. It also reviewed and appraised the performance of the CBN in the effort to meet its statutory mandate and adapt to the circumstances of the new global trend in Central Banking in which the maintenance of price stability supercedes all other objectives of monetary policy. The challenges facing the Bank are enormous, but not insurmountable. Efforts are already being made to confront these challenges. The instrument autonomy recently granted to the …
Policy Seminar On The 1997 Federal Government Budget., Paul A. Ogwuma
Policy Seminar On The 1997 Federal Government Budget., Paul A. Ogwuma
Bullion
This is a lecture presented by the Governor of Central Bank of Nigeria. It examines the Nigeria federal budget critically on strategy and framework for the successful implementation of the 1997 policy measures, taking into account the absorptive capacity and constraints of the Nigerian economy.
A Special Address: Policy Seminar On The 1997 Federal Government Budget., Ayo Ogunlade
A Special Address: Policy Seminar On The 1997 Federal Government Budget., Ayo Ogunlade
Bullion
The paper contains the special address by the Honourable Minister of National Planning at the opening ceremony of the CBN/NCEMA/NES policy seminar on the 1997 Federal Government Budget. The budget provides the framework for implementing the short-term components of medium-term national development policies and programmes.
Money Supply, Inflation And The Nigerian Economy, Paul A. Ogwuma
Money Supply, Inflation And The Nigerian Economy, Paul A. Ogwuma
Bullion
Experience in many countries, including Nigeria, show that fiscal policies, in particular, intended primarily to stimulate output growth and enhance real income often end up as a major source of financial imbalances and macro-economic instability. The accompanying high inflation has critical allocative and distributional implications that can be detrimental to the growth process. It is against this background that, this short paper attempts, to identify the relationship between monetary growth and inflationary developments in Nigeria and the implications for economic growth. Following this Introduction, Thus, the challenge of maintaining monetary stability has often been a difficult one, the world over, …
Budget Of Renewal 1995, Sani Abacha General
Budget Of Renewal 1995, Sani Abacha General
Bullion
The paper contains the 1995 Budget speech of the Head of State and Commander-in-Chief of the Armed Forces of Nigeria, General Sani Abacha.
Allocation And Management Of Foreign Exchange: The Nigerian Experience., O. K. Anifowose
Allocation And Management Of Foreign Exchange: The Nigerian Experience., O. K. Anifowose
Bullion
This paper intends to discuss and review the various strategies adopted in the management of Nigeria's foreign exchange resources. Part I of the paper reviews the systems adopted before SAP (Structural Adjustment Programme) period as well as those practised from SAP to end of 1993. Part ll considers in broad terms the 1994 foreign exchange resource management policies. While Part lll describes the foreign exchange allocative mechanism adopted in 1994. Finally, part lV provides the summary and conclusion of the paper.
The Role Of The Central Bank In The Nigerian Economy., Paul A. Ogwuma
The Role Of The Central Bank In The Nigerian Economy., Paul A. Ogwuma
Bullion
This paper focus on the role of the Central Bank of Nigeria and its contributions in the face of the prevailing unstable macro-economic environment. The paper further provide a brief background on the general objectives of a central bank, especially from the international perspective. The paper projects that year 2000 will see the Central Bank of Nigeria becoming smaller both structurally and functionally. Shedding of some of its developmental activities which can effectively be taken over by other agencies with focus on its stabilization functions which can sustain price stability and restore full confidence to the financial sector. It further …
The Economics Of Controls And Deregulation: The Nigerian Case Study, M. O. Ojo
The Economics Of Controls And Deregulation: The Nigerian Case Study, M. O. Ojo
CBN Occasional Papers
The abandonment of economic controls and the adoption of deregulatory measures in the mid-1 980s were expected to usher in economic recovery and sustained growth in Nigeria. In the wake of the apparent failure of the adopted policy regime to attain that primary goal, there Is a need to investigate the efficacy of the policy instruments adopted and the fundamental causes of persistent economic downturn. The paper reviews Nigeria’s experiences in the use of economic control tools and measures of liberalisation, as well as the international evidence. A major finding of the study is that the programme of deregulation was …
Governor's Speech At The Official Naming Ceremony Of "Samuel Asabia House"., Paul Ogwuma
Governor's Speech At The Official Naming Ceremony Of "Samuel Asabia House"., Paul Ogwuma
Bullion
The paper contains the speech of the Governor of Central Bank of Nigeria at the official naming ceremony of the First Bank of Nigeria Head Office in honour of the late Chief Dr. Samuel Asabia, the first indigenous Managing Director and Chief Executive of FBN PLC.
Structure Of The Nigerian Economy: Being The Text Of A Paper Presented On 18th April, 1994 At A Seminar On The Management Of Nigerian Economy Held At The Cbn Training Centre, Lagos., F. U. Ezeuduji
Bullion
This paper examines various dimensions of Nigeria's structure, as well as its components and interrelatedness with a view to identifying the potentials for, and constraints to development. The paper is divided into four sections, ln section one, the resource base of the Nigerian economy is reviewed. This is followed in Section two by on appraisal of the pattern of Nigerian economic activities, given the structure of the resources. The third section examines the major structural weaknesses of the Nigerian economy while the fourth and final section summarises and concludes the paper.