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Articles 1 - 18 of 18
Full-Text Articles in Social Statistics
Big Data And Inflation Forecasting In Nigeria: A Text Mining Application., M. A. Adebiyi, A. O. Adenuga, T. S. Olusegun, O. O. Mbutor
Big Data And Inflation Forecasting In Nigeria: A Text Mining Application., M. A. Adebiyi, A. O. Adenuga, T. S. Olusegun, O. O. Mbutor
Economic and Financial Review
The success of monetary policy is substantially predicated on the availability of reliable forecast of inflation. However, the shocks arising from COVID-19 and the Russia-Ukraine war have brought about significant economic uncertainties; thus, necessitating the fine-tuning of existing forecasting models of the Central Bank of Nigeria. This study explores the usefulness of public sentiments obtained using machine learning methods to improve the predictive power of the existing short-term inflation forecasting model (STIF) in Nigeria. Findings indicate that, for all components of inflation, models that include the computed sentiment index perform better in both in-sample and out-sample forecasts than those excluding …
Understanding Balance Of Payments And Its Link With Monetary Policy In Nigeria, Ocheuje Leonard Pius
Understanding Balance Of Payments And Its Link With Monetary Policy In Nigeria, Ocheuje Leonard Pius
Bullion
Developments in the balance of payments of any country is generally of interest to national policymakers, international investors, financial and economic analysts as well as international financial institutions. In recent times, Nigeria recorded persistent current account as well as overall BOP decits and these created discomfort among policy makers with regards to its sustainability and possible implications for the economy. This paper explores some of the major developments and trends in Nigeria's BOP as well as their interrelationship with other macroeconomic accounts. It also provided clarity to the structure and components of Nigeria's BOP statistics as compiled in line with …
A Text Mining Analysis Of Central Bank Monetary Policy Communication In Nigeria, Mohammed M, Tumala, Babatunde S. Omotosho
A Text Mining Analysis Of Central Bank Monetary Policy Communication In Nigeria, Mohammed M, Tumala, Babatunde S. Omotosho
CBN Journal of Applied Statistics (JAS)
This paper employs text-mining techniques to analyse the communication strategy of the Central Bank of Nigeria (CBN) during the period 20042019. Since the policy communique released after each meeting of the CBN’s monetary policy committee (MPC) represents an important tool of central bank communication, we construct a corpus based on 87 policy communiques with a total of 123, 353 words. Having processed the textual data into a form suitable for analysis, we examined the readability, sentiments, and topics of the policy documents. While the CBN’s communication has increased substantially over the years, implying increased monetary policy transparency; the computed Coleman …
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 …
An Empirical Analysis Of The Sacrifice Ratio In Nigeria, Ada Tony Odu, Onyebuchi David Anih
An Empirical Analysis Of The Sacrifice Ratio In Nigeria, Ada Tony Odu, Onyebuchi David Anih
Bullion
This study empirically investigates the existence of a sacrifice ratio for Nigeria and to measure it, if one exists over the disinflation episodes. The study adopted the Ball (1994) methodology and the Hodrick-Prescott (HP) filter technique to examine the cost of disinflation to Nigeria. Six (6) disinflation episodes were identified over the 2000Q1 – 2018Q2 period and the results obtained indicated varying amounts of output losses over the different episodes under study. The findings suggested that a 1% disinflation resulted in output losses ranging from - 0.02% to 0.44% for the Nigerian economy. Both methods, however, suggested that the latest …
Financial Inclusion And People Living With Disabilities (Plwds) In Nigeria: A Disaggregated Analysis, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi, Odigie Joseph Ndidi
Financial Inclusion And People Living With Disabilities (Plwds) In Nigeria: A Disaggregated Analysis, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi, Odigie Joseph Ndidi
Bullion
This study investigated the level of financial inclusion and people living with disabilities (PLWDS) in Nigeria. The disaggregated analysis was employed in investigating the level of financial inclusion of PLWDs across the geopolitical zones in Nigeria. The instrument used to collect data was titled: Financial Inclusion of People living with Disability Survey Inventory (FIPWIDSI). The construct validity of the instrument was ensured using the Principal Component Analysis (PCA).The internal consistency was verified using Cronbach's alpha technique. Descriptive and influential statistics, Mean and standard deviation, Analysis of Variance (ANOVA) and Sidak multiple mean comparison Post Hoc test were employed for data …
Does Changes In Monetary Policy Rate In Nigeria Have Effect On The Interest Rates? Recent Evidence, Saidu D. Ahmed, Aliyu B. Saidu, Umar A. Zubair
Does Changes In Monetary Policy Rate In Nigeria Have Effect On The Interest Rates? Recent Evidence, Saidu D. Ahmed, Aliyu B. Saidu, Umar A. Zubair
Bullion
The objective of this study is to find out whether changes in Monetary Policy Rate have any impact on interest rates in Nigeria. The study adopted Multiple Linear Regression Analysis to examine the effectiveness of changes in Monetary Policy Rate on movement in short term and long term rates in Nigeria. The study concludes that the MPR influences the 91-Day Treasury Bills rate to the greatest extent followed by the Inter-Bank Call rate. The results obtained from this study can be used to gauge the effectiveness of MPR in an economy like Nigeria where financial infrastructure is not fully developed.
Renewable Energy Consumption And Economic Growth In Nigeria: A Co-Integration And Granger Causality Approach, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi
Renewable Energy Consumption And Economic Growth In Nigeria: A Co-Integration And Granger Causality Approach, Kingsley Imandojemu, Akinlosotu Nathaniel Toyosi
Bullion
The International Energy Agency (2017) reports affirmed that one in five people across the globe lack access to electricity and, about 2.8 billion people still lack access to clean cooking. The expected switch to liquefied petroleum gas (LPG), natural gas and electricity remains unimpressive. One-third of the world's population –2.5 billion people – still rely on the traditional use of solid biomass while another 120 million people cook with kerosene and 170 million with coal. Household air pollution from these sources is currently linked to 2.8 million premature deaths per year, and several billion hours are spent collecting firewood for …
The Relevance Of Garch-Family Models In Forecasting Nigerian Oil Price Volatility, Garzali Muhammed, Bashir Umar Faruk Ph.D
The Relevance Of Garch-Family Models In Forecasting Nigerian Oil Price Volatility, Garzali Muhammed, Bashir Umar Faruk Ph.D
Bullion
This study aims at investigating the relevancy of GARCH - family models in measuring the Nigeria bonny light crude oil price volatility. The study also compares the forecasting power of different GARCH models with the aim of identifying the best forecasting model. The study uses the best GARCH family model to predict the future bonny light oil prices. The paper is structured into five sections. First section is introduction and second section is the literature review. The third section highlight the methodology while section four analyses the result and gives discussions of findings. Conclusion and recommendations are in the last …
Geopolitical Tensions, Crude Oil Price And Output Dynamics: Implications For Fiscal Governance In Nigeria, Harrison O. Okafor
Geopolitical Tensions, Crude Oil Price And Output Dynamics: Implications For Fiscal Governance In Nigeria, Harrison O. Okafor
Bullion
This paper examined the linkages between geopolitical tensions, crude oil prices and oil output dynamics vis-a-vis the implication for fiscal governance in Nigeria. within a strategic game theoretical framework, anchored on moral hazard assumptions (incentive problem) and applying VAR model, findings indicate that geopolitical tensions affects Nigeria's bonny light crude oil price and export. Results also revealed that the timing and impact of geopolitical tensions last fairly long thus, could affect fiscal revenue and economic governance in Nigeria. Therefore, the paper recommends a complete diversification of the economy from oil will strengthen the nation's fiscal space and development planning.
Understanding Economic Recession, The Role And Limitations Of Monetary Policy In Recovery, Mustapha Adewale Adigun
Understanding Economic Recession, The Role And Limitations Of Monetary Policy In Recovery, Mustapha Adewale Adigun
Bullion
This article examines the causes and effect of economic recession, highlights the role of monetary policy in economic recovery from a recession and proposes appropriate policy options to address the menace of recession with a view to promote economic recovery. Following the introduction, section 2 addresses the definition, causes, features and brief history, section 3 discuss recent economic recession in Nigeria, section 4 highlights the role of monetary policy and section 5 concludes the paper.
Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi
Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi
Bullion
In Nigeria, 67% of the population lives below the poverty line. Access to basic financial services can make a significant difference in reducing poverty and financial technology has been used to enhance the provision of financial services to the poor and unbanked in sub-Saharan Africa. This paper seeks to highlight the nexus between financial inclusion and financial technology as well as how it can help reduce poverty in Nigeria.
Monetary Policy Management In Nigeria Today: Issues In Stagflation And Recession, Moses K. Tule
Monetary Policy Management In Nigeria Today: Issues In Stagflation And Recession, Moses K. Tule
Bullion
This article explore the rare and challenging economic problem faced by Nigeria refers to as stagflation. i.e. a condition characterized by the co-existence of declining growth rates along with high unemployment and inflation rates. These negative economic development have raised major concern for policy makers and other economic agents because of the adverse effects on investment, financial stability and livelihood.
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria
CBN Annual Report
2010 annual report reviews the operations of the Central Bank of Nigeria (CBN) and appraises the macroeconomic policies in 2010. the report is structured into two parts. Part 1 reviews the corporate operations of the bank, while the part 2 evaluates the performance of the economy against the challenges in both the thrust of monetary policy and other financial measures was to improve liquidity and enhance the efficiency and stability of the financial system without compromising the primary goal of monetary and price stability.
Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria
Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria
CBN Annual Report
The Central Bank of Nigeria (CBN) Annual Report and Statement of Accounts for the Year Ended 31st December, 2009 revealed that the country's Gross Domestic Product (GDP) grew by 6.7% YoY, compared to 6.0% in the previous year. This growth was driven by the non-oil sector, with the non-oil GDP growth rate of 8.3%. Within the non-oil sector, the agricultural sub-sector grew by 6.2%, while the whole-sector and retail sectors recorded growth rates of 11.5 and 10.5 per cent, respectively. The robust output recorded during the previous three years was driven by the government's optimism, which reflected in the oil …
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2008., Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2008., Central Bank Of Nigeria
CBN Annual Report
The Central Bank of Nigeria (CBN)'s 2008 report evaluates macroeconomic policies and outcomes, focusing on corporate operations and the economy's performance against domestic and external economic and financial developments. The CBN's monetary policy stance and banking and financial measures were deployed to ensure price stability and financial sector soundness. Despite the global economic downturn, the financial system remained relatively stable and overall macroeconomic performance was satisfactory. The formal financial system at end-December 2008 comprised the CBN, the Nigeria Deposit Insurance Corporation, the Securities and Exchange Commission, the National Insurance Commission, the National Pension Commission, and various banks. The banking sector …
Statistics, December 1987, Central Bank Of Nigeria Cbn
Statistics, December 1987, Central Bank Of Nigeria Cbn
Economic and Financial Review
This is a statistical representation of the economic activities in Nigeria in December, 1987
Statistical Section (December 1984), Central Bank Of Nigeria Cbn
Statistical Section (December 1984), Central Bank Of Nigeria Cbn
Economic and Financial Review
This is a statistical representation of economic activities in Nigeria during the fourth quarter of 1984