Social and Behavioral Sciences Commons^™

State Of The Economy: Central Bank Of Nigeria Perspective, Ogwuma P. A

Bullion

This paper reviews broadly developments in the real, monetary and financial and external sectors of the economy from 1991 to 1994. It highlights the problems confronting policy makers and put forward some recommendations for consideration. The overall performance of the Nigerian economy during the past three years has been characterized by declining growth rate of GDP in turn a reflection, in the main, of the negative impact of the macroeconomic and financial imbalances. The major factor underlying the adverse movements in macroeconomic variables since 1991 has been the rapid growth in CBN credit for the financing of Federal Government's fiscal …

Review Of Policy And Developmental Objectives In Agricultural And Agro-Based Industrial Financing., G.O. Evbuomwan, E.U. Ukeje, F.A. Afelumo

Bullion

This paper reviews and appraise the role of government credit policies in the development of agriculture and agro-based industries in Nigeria. The paper is organized into five sections. Section I reviews the objectives of agricultural development and its role in overall economic development. Section II highlights some major policy measures designed to achieve stated agricultural and agro-industrial development objectives, the major sources of financing and institutions established to support agricultural and agro-based industries are appraised in Section III, while Section IV contains the lessons of experience and implications for policy. Section V summarizes and concludes the paper.

Restructuring The Nigerian Financial System For Economic Resuscitation., S. B Falegan

Bullion

The article provides a detailed analysis on the stages of restructuring the Nigerian Financial System for Economic Resuscitation during the period of 1985-1993 .

Restructuring The Nigerian Financial Sector For Economic Resuscitation., V.A Odozi

Bullion

This paper examines major developments in the Nigerian financial sector and discusses efforts made so far by the authorities to restructure the sector so as to enhance its efficiency. Major Developments in the Financial Sector The Structural Adjustment Programme (SAP) which was adopted in 1986 was the nation's inevitable response to the suffocating effect of the external debt burden on the Nigerian economy, the escalating fall in agricultural productivity, and undue dependence on petroleum as a foreign exchange earner. The paper noted that the increase in the number of banks resulted in competition for bank deposits and other patronages from …

Modern Techniques Of Bank Administration, C. E. Agene

Bullion

This paper examines the basic theories and concepts underlying bank management. The paper noted that portfolio management, especially the funds management aspect, represented the core of sound bank planning and financial control. The paper identified principal methods of assets and liability management including liquidity and asset management, forecasting, resource allocation, foreign exchange management and gap management were discussed. The twin concepts of overall bank liquidity and balance sheet interest rate sensitivity management are also highlighted. The paper further observed that that portfolio management in banks being an intricate matter usually requires the setting up of management committees to take charge …

Implementation Of Indirect Monetary Control In Nigeria: Problems And Prospects., F. O. Oresotu

Economic and Financial Review

The paper discusses the advantages and disadvantages, pre-conditions, instruments and issues in indirect approach to monetary and credit control. Among the preconditions stated are the ability of the Central Bank to formulate an appropriate monetary programme to which government must give support and co-operation to the Central Bank in its execution. The importance of competitive money and short-term securities markets to serve as medium for transmitting monetary policy action to the productive sectors of the economy is also stressed. This will facilitate the functioning of an efficient transmission mechanism for the allocation of financial resources among competing needs. The relevance …

Economic Cost Of Electricity Outages: Evidence From A Sample Study Of Industrial And Commercial Firms In The Lagos Area Of Nigeria., O. A. Uchendu

Economic and Financial Review

The purpose of this study is to estimate some of the measurable costs of electricity outages from a sample of industrial and commercial firms in the Lagos area. To achieve this objective, over 100 firms were surveyed. Analysis of the survey returns showed that firms in the area sustained substantial economic costs, consisting of adaptive costs (investments and operating costs on own generations), operating losses (raw and processed materials), equipment losses and unproduced output. Most of the firms indicated that NEPA's tariff was expensive. They also recommended among other things, private sector participation in the electricity industry and privatization of …

The Role Of The Central Bank Of Nigeria In Monetary And Banking Policy Measures., P. A. Ogwuma

Economic and Financial Review

The objective of this paper is to examine the various monetary and banking policy measures which the CBN had applied both in the past and now in carrying out its functions and the role banking legislation plays in this regard. To this end, the paper is organised in four parts. Part I examines the legal and macroeconomic environment in which the Bank discharges its responsibilities. Part II reviews the measures taken by the CBN over the years in performing its functions while Part llI identifies the problems which constrains CBN's performance, the external influences which cause or aggravate these problems …

A Review And Appraisal Of Nigeria's Experience With Financial Sector Reform, M. O. Ojo

CBN Occasional Papers

The primary aim of the paper Is to highlight the policy reforms In Nigeria's financial sector since 1986, assess the results of the reform programme, and Identify the lessons that can be learned from the policy initiatives. The reform package was introduced in 1986 against the background of prolonged macro-economic distortions and economic deterioration, especially during the first half of the 1980s. Financial sector reforms under the aegis of the Structural Adjustment Programme were designed to induce more domestic savings and reduce the distortions in investment decisions. To this end, measures were introduced between 1986 and 1992 (the period covered …

Sustaining Agricultural Production In A Deregulated Economy, M. O. Ojo, E. D. Balogun, Grace O. Evbuomwan

Economic and Financial Review

This paper reviews the policy framework for Nigerian agriculture and gauges Its Impact prior to and since the commencement of economic deregulation. It investigates the prospects, analyses the constraints and outlines a feasible strategy for sustaining agricultural growth in a deregulated enabling environment 1he paper notes that in the pe1iod, 1970 to 1982, the deterioration in agricultural performance In Nigeria was the result not only of external shocks and environmental and/or edaphic factors, but of distorted policy pursuits which Created disincentives for farming. However, following attempts .to deregulate the economy with the adoption of the Structural Adjustment Programme in 1986 …

Some Strategies For Development Of Nigeria's Agricultural Sector In The 1990s, G. E. Ukpong

Economic and Financial Review

This paper reviews the major policy measures Introduced by the government to Induce growth of output of the agricultural sector and accelerate Its development. Some measures adopted before the Introduction of the Structural Adjustment Programme (SAP} Included producer prices selling through Marketing Boards, establishment of financial Institutions and Funds to extend credit to the sector at concessionary Interest rates, and the provision of extension services by ministries of agriculture. Agricultural policy measures under SAP consisted, among others, of abolition of Commodity Boards, free market determination of agricultural product prices, a ban on the export and Import of selected agricultural products …

Developments In The Insurance Industry In Nigeria In 1991, Central Bank Of Nigeria Cbn

Economic and Financial Review

Nigeria's insurance Industry expanded marginally In 1991. While some companies In the Industry diversified their activities from wholly life lo joint life and non-life, the number of companies formerly In the life business remained unchanged. Amidst general price increases, the aggregate industry Income rose although expenditures increased foster.

Exchange Rate Action: Channels Of Contribution To Effectiveness Of Growth-Oriented Adjustment Policies In Low Income Primary Producing Countries, F. L. Osundade

Economic and Financial Review

This paper Identifies exchange rate as one of the principal policy tools through which low-Income primary producing countries could properly align their economic and financial activities with those In the rest of the world to achieve satisfactory growth In income and employment. It examines the channels U1rougl1 which devaluation (exchange rate action) can produce significant impacts on major economic aggregates and in the process, correct financial and structural Imbalances.

Japan As A Capital Exporter And The World Economy (Occasional Papers No. 18. Group Of Thirty, New York) By Masaru Yoshitomi, Ademola Bamidele

Economic and Financial Review

Sound financial system is considered central to the development of trade either in an economy or internationally. This fact informed the author of this Occasional paper in examining and bringing into focus how Japan became an international creditor i.e. net capital exporter in the world financial system aside from her leading role in world trade. This position was attained through a combination of many factors, some of which were sectoral savings-investment imbalances and the co-existence of high-employment government deficit and the high-employment current account surplus in the 1970s and 1980s. The author thus, traced the historical evolution of Japan• s …

A Comparative Analysis Of The Export Promotion Strategies In Selected Asia- Pacific Countries And Nigeria, Awosseyila A. P, Obitayo K. M

CBN Occasional Papers

This paper reviews the structures of exports and compares the export promotion strategies adopted by some selected countries in Asia-Pacific region and Nigeria. The aim is to find effective solutions to the diversification and expansion of manufactured exports in Nigeria. The five selected countries comprise of three of the four newly industrializing Asian countries (NICs), namely, Taiwan, Singapore, and Hong Kong while the remaining two are members of the six. Associated South East Asian Nations (ASEANS) (Malaysia and Indonesia). Against the background of the world’s average growth rates of 3.2 and 2.0 per cent in 1989 and 1990; the average …

Central Bank Of Nigeria Statistical Bulletin, June 1993, Central Bank Of Nigeria

CBN Statistical Bulletin

This volume/year presents data on the Money and Banking sub-sector, including central banking, financial markets, non-bank financial institutions, clearing house activities, merchant and commercial banking, and public finance statistics. The data includes consolidation of commercial and merchant banks' first and second schedule statistical returns, computation of liquidity ratio, cash reserve ratio, loan/deposit ratio, proportion of loans to rural borrowers and small-scale enterprises, and reconstitution of the Central Bank's balance sheet. The data also indicates the level of banking habit in the industry.

It further explains the classification of insurance companies by their business type, including whole life, non-life, and mixed …

The State Of The Nigerian Economy And The Policy Options., A. Ahmed Alhaji

Bullion

The text of Speech delivered at the 1992 Annual Dinner of the Chartered Institute of Bankers of Nigeria at L'Hotel Eko Meridien, Victoria Island, Lagos, on 13th November, 1992.

The Future Of The Financial Services Industry In Nigeria., Victor A. Odozi

Bullion

The paper is a Keynote Address presented at the Workshop on 'The Future of the Nigerian Finance Industry" Jointly organized by the Chartered Institute of Bankers of Nigeria and the Nigerian Association of Management Consultants, CBIN Auditorium, Victoria Island, February 15,1993.

1993 Budget Of Transition., Shonekan E.A.O. Chief

Bullion

A Federal Government proposals for the 1993 budget of transition with wide ramifications for the third republic and the long-run survival of Nigeria. Also serves as a guide for laying sound foundation for growth and development in the next decade and beyond.

Monetary And Policy Guidelines For 1993 Fiscal Year., Central Bank Of Nigeria Central Bank Of Nigeria

Bullion

The paper contains Central Bank of Nigeria guidelines on major Economic Indicators for the year, 1993.

Constraints Posed By Inadequate Data Supply To Planning And Evaluation Of Services In Nigeria., M. O Ojo Dr

Bullion

The paper discusses the importance of accurate, timely and adequate data in national planning and economic development of Nigeria.