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Articles 1 - 30 of 56
Full-Text Articles in Development Studies
Monetary Policy Effectiveness Index (Mpei): A Novel Framework For Assessing Central Bank Performance In Developing Economies, Emmanuel Ating Onwioduokit
Monetary Policy Effectiveness Index (Mpei): A Novel Framework For Assessing Central Bank Performance In Developing Economies, Emmanuel Ating Onwioduokit
Bullion
This paper presents the Monetary Policy Effectiveness Index (MPEI), a composite measure designed to evaluate monetary policy in developing economies. Unlike traditional single indicators such as inflation or interest rates, which capture only partial outcomes, the MPEI integrates five key dimensions: price stability, output responsiveness, transmission effectiveness, financial depth and inclusion, and institutional credibility. This multidimensional approach reflects the real policy trade-offs and constraints of developing economies. The index enhances accountability, guides sound policy design, and facilitates meaningful cross-country comparisons and progress monitoring.
Official Development Assistance (Oda) In Nigeria: A Political Economy Perspective, Robert Idoko Ogwola
Official Development Assistance (Oda) In Nigeria: A Political Economy Perspective, Robert Idoko Ogwola
Bullion
This study examines the effects of Official Development Assistance (ODA) on Nigeria’s economic growth, social welfare, and political development from 1960 to 2024. Using thematic content analysis, the findings reveal that ODA’s impact has been marginal, falling short of expectations. Instead of fostering economic growth and strengthening social and political systems, ODA often generated unintended outcomes. The study recommends that Nigeria reduce dependence on foreign aid, strengthen national institutions, tackle corruption, and reform public debt management to achieve sustainable development that aligns with relevant targets of the Sustainable Development Goals (SDGs).
Welfare Implication Of Alternative Tax Rates Adjustment Policy In Nigeria: A Dsge Analysis, Umar B. Ibrahim, Isah F. Abubakar
Welfare Implication Of Alternative Tax Rates Adjustment Policy In Nigeria: A Dsge Analysis, Umar B. Ibrahim, Isah F. Abubakar
CBN Journal of Applied Statistics (JAS)
This study sets out to determine the desirable policy adjustment in the tax rate for Nigeria that ensures the least welfare cost. A calibrated small open-economy New Keynesian Dynamic Stochastic General Equilibrium (NKDSGE) model of the Nigerian economy is applied to achieve this objective. Within this framework, we examined the impact of an increase in value-added tax (VAT) rate from 7.5 to 15 percent on key macroeconomic variables relative to the impact of an increase in company income tax (CIT) rate from 30 to 35 percent on macroeconomic variables. Furthermore, we examined the welfare costs of the increases in the …
Value Added Tax Rate Variation, Import Demand And Sectoral Output In Nigeria, Joshua K. Nomkuha, Aondoawase Asooso, Philip T. Abachi
Value Added Tax Rate Variation, Import Demand And Sectoral Output In Nigeria, Joshua K. Nomkuha, Aondoawase Asooso, Philip T. Abachi
CBN Journal of Applied Statistics (JAS)
This study employs computable general equilibrium (CGE) model to estimate the effect of increase in value added tax (VAT), from 5 per cent to 7.5 per cent, on import demand and sectoral output in Nigeria. The study uses 2020 as the base year for the data analysis. The results show that increase in VAT affects import demand negatively, based on import penetration ratios, with mixed effect across six sectors. The implication of the result is that the VAT policy discourage consumption of foreign products, and constitute excess burden to consumers of such products in Nigeria. The results further reveal that …
Stock Market Volatility In The United Kingdom: Simulating Post-Covid-19 Recovery, Bala A. Dahiru, Mohammed Shuaibu, Najibullah Hassanov
Stock Market Volatility In The United Kingdom: Simulating Post-Covid-19 Recovery, Bala A. Dahiru, Mohammed Shuaibu, Najibullah Hassanov
CBN Journal of Applied Statistics (JAS)
This paper investigates the time it would take for the FTSE-100 index to reach its post-COVID-19 peak. The paper utilises an exponential generalised autoregressive conditional heteroscedasticity (EGARCH) model that accounts for leverage effect and asymmetries. The preferred models amongst competing variants was the Autoregressive Moving Average (ARMA)-EGARCH(2,1) specification and was used to predict daily FTSE-100 data from 5th January 2000 to 21st June 2024. The empirical exercise showed that the COVID-19-induced financial crisis negatively affected the United Kingdom’s stock market performance. The results show that the FTSE100 index could reach its post-pandemic peak around 27th August, 2024 (two months after …
Impact Of Covid-19 Pandemic On Performance Of Nigerian Stock Market, Shafiu Ibrahim Abdullahi
Impact Of Covid-19 Pandemic On Performance Of Nigerian Stock Market, Shafiu Ibrahim Abdullahi
CBN Journal of Applied Statistics (JAS)
This study analyzes the effect of COVID-19 pandemic on the performance of Nigerian stock market. The study uses a number of models that include autoregressive distributed lag, vector auto regression, exponential generalized autoregressive conditional heteroskedasticity and multivariate generalized autoregressive conditional heteroskedasticity models. Findings show that reported cases of COVID-19 have causal effect on daily returns of the Nigerian stock market. The results also show that Nigerian stocks are good for portfolio diversification. The results of variance decomposition confirm the declining importance of COVID-19 cases and deaths as the pandemic slows down. Further results show that, for the duration of the …
Impact Of Fiscal Policy On Financial Inclusion And Development In Nigeria, Okwanya Innocent, Taiwo A. Olusegun, Aimua E. Peace
Impact Of Fiscal Policy On Financial Inclusion And Development In Nigeria, Okwanya Innocent, Taiwo A. Olusegun, Aimua E. Peace
CBN Journal of Applied Statistics (JAS)
This paper examines the effect of fiscal policy on financial inclusion and development in Nigeria. The study employs the Autoregressive Distributed Lag (ARDL) model and impulse response function (IRF) to determine the extent and response of financial inclusion and development to fiscal policy changes in Nigeria. The study derives a financial inclusion index from three core indicators: access, usage and quality of financial services, while financial development is measured as the ratio of money supply to GDP (M2/GDP). The results show that government expenditure has a significant positive effect on financial inclusion and development, while tax revenue exerts a negative …
Bitcoin And South African Stock Market Returns During Covid-19 Pandemic: A Test Of The Safe-Haven Hypothesis, Akaninyene U. Udom, Sopuru W. Nnamani
Bitcoin And South African Stock Market Returns During Covid-19 Pandemic: A Test Of The Safe-Haven Hypothesis, Akaninyene U. Udom, Sopuru W. Nnamani
CBN Journal of Applied Statistics (JAS)
This paper tests the safe-haven property of Bitcoin for South African stocks using Full and Diagonal BEKK-GARCH models. The study uses the Johannesburg stock exchange Top40 index, and bitcoin returns data before COVID-19 (August 2018 to December 2019) and during COVID-19 (January 2020 to June 2021). The results show that bitcoin cannot be considered as safe-haven for stocks in South Africa since it is weakly correlated with stock and had a high volatility during the Pandemic. Therefore, the safe-haven hypothesis of bitcoin on South African stocks is not true for the period under study. The policy implication is that bitcoin …
Modelling The Naira Exchange Rate Dependence Using Static And Time-Varying Copula, Kabir Katata
Modelling The Naira Exchange Rate Dependence Using Static And Time-Varying Copula, Kabir Katata
CBN Journal of Applied Statistics (JAS)
This paper examines the dependence structure of different currencies versus the Nigerian Naira using constant and time-varying copula. Daily Naira/USD, Naira/Yuan, Naira/Pound, and Naira/Euro exchange rates from 23 December 2011 to 12 May 2020 were utilised. We fitted eight constant and time-varying copula families using the exchange rate standardised residuals. The study finds that the Naira exchange rate may be estimated with student t-copula, Symmetrized Joe-Clayton (SJC), or Rotated Gumbel copula models and Autoregressive (AR)– Glosten Jagannathan RunkleGeneralized Autoregressive Conditional Heteroscedastic (GJR-GARCH) (1,1) models with skewed t residuals for margins. The Naira exchange rate returns is timevarying, tail-dependent, and asymmetric. …
External Debt Pass-Through To Inflation In Nigeria, Emmanuel A. Asue, James V. Ikyaator
External Debt Pass-Through To Inflation In Nigeria, Emmanuel A. Asue, James V. Ikyaator
CBN Journal of Applied Statistics (JAS)
This study examines external debt pass-through to inflation in Nigeria using annual data from 1981 to 2020 based on structural vector autoregressive (SVAR) model. The results reveal that an increase in external debt service leads to a significant depreciation of the exchange rate, which leads to a contemporaneous increase in inflation, while the direct response of inflation to external debt is statistically not significant. The impulse response confirms these results. The forecast error variance decomposition depicts that future values of official exchange rate depend on external debt, inflation and external debt service. The study recommends that the Nigerian government should …
Food Price And Inflation Adjustments In Nigeria: Evidence From Threshold Cointegration, Usman A. Bello, Aliyu R. Sanusi
Food Price And Inflation Adjustments In Nigeria: Evidence From Threshold Cointegration, Usman A. Bello, Aliyu R. Sanusi
CBN Journal of Applied Statistics (JAS)
This paper investigates two stages of transmission through which inflation stabilization policy affects headline inflation by estimating a threshold cointegration model. The paper finds that asymmetric monetary shocks passing-through food prices exerts inflationary pressure on consumer prices, and is characterized by deep asymmetric movement, large degree of stickiness in adjusting downward, while exhibiting upward momentum in correcting food price fall. In addition, asymmetries were found in consumer price adjustment as food price shock transmits substantial inflationary pressure to consumer prices, while disinflationary effect originating from a fall in food price is inconsequential. The coefficients of adjustment were found to be …
Modelling The Impact Of Government Expenditure On Economic Growth In Nigeria: The Moderating Effects Of Oil And Non-Oil Revenue, Victor U. Ijirshar, Gaius M. Asombo, Florence D. Bundepuun, Ashifa Tersugh, Ayila Ngutsav
Modelling The Impact Of Government Expenditure On Economic Growth In Nigeria: The Moderating Effects Of Oil And Non-Oil Revenue, Victor U. Ijirshar, Gaius M. Asombo, Florence D. Bundepuun, Ashifa Tersugh, Ayila Ngutsav
CBN Journal of Applied Statistics (JAS)
This study examines the relationship between government expenditure and economic growth and assesses the moderating effects of oil revenue and non-oil revenue in Nigeria from 1981 to 2021. The study uncovered short-term asymmetry in the government expenditure-economic growth nexus while the long-term relationship was symmetric. The study found that government expenditure is a significant determinant of economic growth in Nigeria and that oil and non-oil revenue influences the nexus between government expenditure and economic growth in Nigeria positively. The study recommends efficient management of oil revenue, directing investments during high revenue periods and ensuring fiscal sustainability. Government should also establish …
Improving The Efficiency Of Exponential Ratio-Type Estimator For Population Median: A Calibration Weight Adjustment Approach, Mathew J. Iseh, Kufre J. Bassey
Improving The Efficiency Of Exponential Ratio-Type Estimator For Population Median: A Calibration Weight Adjustment Approach, Mathew J. Iseh, Kufre J. Bassey
CBN Journal of Applied Statistics (JAS)
This paper modifies the Bahl and Tuteja exponential ratio-type estimator for population median under simple random and stratified sampling schemes using calibration weight adjustment technique with supplementary information to vary the stratum weights. The bias and mean square error of the modified estimator were obtained up to the second-order approximation, which satisfies the necessary conditions for efficiency. The findings show that the new estimator surpasses existing estimators in efficiency gain. This suggests the appropriateness of calibration weight modification in boosting the efficiency of a population parameter estimator under stratified random sampling especially where the population parameter of the auxiliary variable …
Fiscal And Monetary Policy Interactions In A Developing Economy: A Dsge-Based Evidence From Nigeria, Queen E. Oye, Philip O. Alege
Fiscal And Monetary Policy Interactions In A Developing Economy: A Dsge-Based Evidence From Nigeria, Queen E. Oye, Philip O. Alege
CBN Journal of Applied Statistics (JAS)
This study characterizes the nature of fiscal-monetary interaction in Nigeria and gauges its macroeconomic effects by estimating a New Keynesian Dynamic Stochastic General Equilibrium (NK DSGE) model. Two policy simulations were also conducted. The first experiment considers the desirable active-passive policy mix while the second experiment ranks alternative monetary policy rules among the differing objectives of price, output and exchange rate stabilization. The study finds that fiscal and monetary policies interact as complements in an active monetary and passive fiscal policy mix over the sample period. The result from the first policy simulation reveals that the active monetary and passive …
Savings-Investment Gap In Sub-Saharan Africa: Does The Interaction Of Financial Sector Development And Migrant Remittances Matter?, Wasiu Adekunle, Oluwatosin Adeniyi, Joshua Afolabi, Musibau Babatunde, Edward Omiwale
Savings-Investment Gap In Sub-Saharan Africa: Does The Interaction Of Financial Sector Development And Migrant Remittances Matter?, Wasiu Adekunle, Oluwatosin Adeniyi, Joshua Afolabi, Musibau Babatunde, Edward Omiwale
CBN Journal of Applied Statistics (JAS)
This study analyses the interactive effects of migrant remittances and financial development on savings-investment gap for a panel of 18 Sub-Saharan Africa (SSA) countries from 1990-2017. Results from a panel ARDL model show that migrant remittances reduce savings-investment gap in the long run. The gap is further reduced when the individual effect of financial development, and the interactive effects of migrant remittances and financial development are taken into consideration. Further analysis reveals evidence of widening effects of rising real GDP growth and bank deposits over a long-term horizon, while higher private sector credit widened the savings-investment gap only in the …
Effects Of Central Bank Independence And Financial Stability On Inflation In Selected African Countries, Adamu Yahaya, Mohammed T. Saidu, Abdulaziz Sadi
Effects Of Central Bank Independence And Financial Stability On Inflation In Selected African Countries, Adamu Yahaya, Mohammed T. Saidu, Abdulaziz Sadi
CBN Journal of Applied Statistics (JAS)
This study examines the relationship between central bank independence (CBI), financial stability, and inflation in 14 African countries within the period 1985-2019. Initial test revealed the presence of cross-sectional dependence (CD) among the countries. Thus, the Mean Group (MG), Common Correlated Effect Mean Group (CCEMG) and Augmented Mean Group (AMG) were employed for the analysis. The CCEMG and AMG results showed a significant and negative correlation between central bank independence and inflation. On the other hand, financial stability is only significant in the MG Model. Additional results obtained using the Garriga CBI index is consistent with our main results. The …
Effectiveness Of Foreign Aid In Poverty Reduction In Africa: The Role Of Fiscal Policy, Iwegbu Onyebuchi, Risikat O. S. Dauda
Effectiveness Of Foreign Aid In Poverty Reduction In Africa: The Role Of Fiscal Policy, Iwegbu Onyebuchi, Risikat O. S. Dauda
CBN Journal of Applied Statistics (JAS)
This study examines foreign aid effectiveness in poverty reduction in Africa with focus on the role of regional fiscal policy on education and health. The study employs panel dynamic ordinary least squares (DOLS) estimation technique and covers the period 1980-2017. The results reveal that foreign aid augmented with effective fiscal policy on education significantly improves the income level in all the regions except Central Africa, and consumption in the Western and Central regions. When augmented with effective fiscal policy on health foreign aid enhances households’ income in West and Central Africa and consumption in West and Southern regions. Furthermore, foreign …
Assessing The Nexus Among Energy Consumption, Foreign Direct Investment And Economic Growth In Sub-Saharan Africa, Olanrele1 Iyabo A., Awode Segun S.
Assessing The Nexus Among Energy Consumption, Foreign Direct Investment And Economic Growth In Sub-Saharan Africa, Olanrele1 Iyabo A., Awode Segun S.
CBN Journal of Applied Statistics (JAS)
This study examines the dynamic relationship among energy consumption, foreign direct investment, and economic growth in Sub-Sahara Africa. Beyond assessing the tripartite causal relationship, the study investigates the extent of impacts among energy consumption, foreign direct investment, and economic growth using the Generalised Method of Moments. The study utilises data from 42 Sub-Saharan African countries spanning 1991 to 2018. Findings from the study show that a percentage increase in energy consumption engenders economic growth by 1.3 percent. Conversely, economic growth increases energy consumption by 0.004 percent. Also, there is a significant one-way causality running from foreign direct investment (FDI) to …
Effect Of Monetary Policy Rate On Market Interest Rates In Nigeria: A Threshold And Nardl Approach, Oluwafemi E. Awopegba, Joseph O. Afolabi, Lydia T. Adeoye, Godwin O. Akpokodje
Effect Of Monetary Policy Rate On Market Interest Rates In Nigeria: A Threshold And Nardl Approach, Oluwafemi E. Awopegba, Joseph O. Afolabi, Lydia T. Adeoye, Godwin O. Akpokodje
CBN Journal of Applied Statistics (JAS)
This study examines the effect of monetary policy rate (MPR) on market interest rates in Nigeria. For parsimony, we develop two indexes called the short-term interest rate (SINT) and Lending interest rate (LINT) to represent deposit and lending rates respectively. The nonlinear autoregressive distributed lag (NARDL) and threshold regression models are adopted. The study uses monthly data from 2002:M1 to 2019:M12. The results of the threshold regression model indicate that the degree of the effect of MPR on SINT and LINT above the estimated threshold of 11 and 13 percent respectively is greater and significant than if MPR were to …
Social Dimension Of Inclusive Growth In Ecowas: Implication For Poverty Reduction, Toriola K. Anu, Goerge O. Emmanuel, Ajayi O. Felix
Social Dimension Of Inclusive Growth In Ecowas: Implication For Poverty Reduction, Toriola K. Anu, Goerge O. Emmanuel, Ajayi O. Felix
CBN Journal of Applied Statistics (JAS)
This study investigates the implication of the social dimension of inclusive growth on poverty reduction in Economic Community of West African States (ECOWAS) countries. It specifically examines how social indices of inclusive growth comprising of income inequality, education, and health outcomes affect poverty reduction. The study uses a panel dataset of the six (6) lower-middle income countries in ECOWAS which was analysed via panel Difference Generalised Method of Moment (D-GMM). The results show that GDP per capita exerts significant negative effect on poverty while inequality, education and health outcomes do not show significant effect on poverty. Although, the estimates of …
Effect Of Fdi Inflows On Employment Generation In Selected Ecowas Countries: Heterogeneous Panel Analysis, Timothy A. Aderemi, Olawunmi Omitogun, Bukonla G. Osisanwo
Effect Of Fdi Inflows On Employment Generation In Selected Ecowas Countries: Heterogeneous Panel Analysis, Timothy A. Aderemi, Olawunmi Omitogun, Bukonla G. Osisanwo
CBN Journal of Applied Statistics (JAS)
The aim of this study is to examine the effect of FDI on employment in ECOWAS sub region between 1990 and 2019. The study utilizes a panel autoregressive distributed lag model to analyse the short run and long run relationship between FDI and employment across ECOWAS sub region. In the short run, the impact of FDI on employment is negative and statistically not significant. Meanwhile, in the long run FDI has a positive and statistically significant impact on employment rate. This implies that FDI has the capacity to generate employment in countries in ECOWAS sub region. Therefore, this study recommends …
Impact Of Covid-19 Pandemic On The Nigeria Stock Market: A Sectoral Stock Prices Analysis, Peter A. Adekunle, Yakubu A. Bello, Udochukwu G. Nwachukwu
Impact Of Covid-19 Pandemic On The Nigeria Stock Market: A Sectoral Stock Prices Analysis, Peter A. Adekunle, Yakubu A. Bello, Udochukwu G. Nwachukwu
CBN Journal of Applied Statistics (JAS)
This study examines the impact of the COVID-19 pandemic on sectoral stock prices in Nigeria stock market using daily data covering from February 28, 2020 to June 26, 2020. Applying the autoregressive distributed lag (ARDL) bounds test, the study finds that COVID-19 pandemic had adverse impact on the stock market indices in the short run. Furthermore, the study documents negative response of sectoral stock prices to the pandemic while the stock prices of the banking sub-sector are the worst hit. Compared to the consumer goods, and industrial subsector indices, the speed of adjustment to long run equilibrium is faster for …
Is The Heterogeneity Of Expenditure Relevant To Economic Growth? The Case Of Nigeria, Efayena O. Oba, Ngozi P. Buzugbe
Is The Heterogeneity Of Expenditure Relevant To Economic Growth? The Case Of Nigeria, Efayena O. Oba, Ngozi P. Buzugbe
Bullion
With the Nigerian economy oscillating around financial quagmire and fast moving towards fiscal unsustainability, this study analysed the impact of disaggregated expenditures on economic growth. Employing data from 1980 to 2019, the study established through the autoregressive distributed lagged technique that heterogeneity in expenditure is relevant to economic growth, with recurrent expenditure contributing insignificantly to economic growth, while capital expenditure negatively impact economic. Thus, among other policy option, the study suggested appropriate expenditure over recurrent expenditure and that government should engage more in the provision of capital projects in the economy.
Impact Of Government Expenditure On Economic Growth In Nigeria, 1970-2019, Aluthge Chandana, Jibir Adamu, Abdu Musa
Impact Of Government Expenditure On Economic Growth In Nigeria, 1970-2019, Aluthge Chandana, Jibir Adamu, Abdu Musa
CBN Journal of Applied Statistics (JAS)
This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts for structural breaks in the unit root test and the co-integration analysis. The key findings of the study are that capital expenditure has positive and significant impact on economic growth both in the short run and long run while recurrent expenditure does not have significant impact on economic growth both in the short run and long run. The study …
Governance, Institutional Quality, Growth And Inequality In Africa. A Study Of Central Bank Of Nigeria, Ann Ogbo, Arachie Augustine Ebuka, Ezema Ikechukwu Humphrey
Governance, Institutional Quality, Growth And Inequality In Africa. A Study Of Central Bank Of Nigeria, Ann Ogbo, Arachie Augustine Ebuka, Ezema Ikechukwu Humphrey
Bullion
This paper examined the role of institutional quality on economic growth and reduction of inequality in Nigeria. Survey research design was adopted and data were collected through primary and secondary sources. Population of the study was 600 businesses across Nigeria. Descriptive and inferential statistics were used for data analysis. Findings revealed that the bottlenecks facing businesses in accessing loans have significant effects on business creation in Nigeria. The study concluded that lack of policies and interventions are not the problems for small businesses to obtaining funds from government, but effectiveness and efficiency of these interventions and policies.
Analysis Of The Impact Of Central Bank Of Nigeria's Agricultural Intervention Funds On The Economy, E. T. Adamgbe, M. C. Belonwu, E. R. Ochu, I. I. Okafor
Analysis Of The Impact Of Central Bank Of Nigeria's Agricultural Intervention Funds On The Economy, E. T. Adamgbe, M. C. Belonwu, E. R. Ochu, I. I. Okafor
Economic and Financial Review
This paper set out to investigate the impact of Central Bank of Nigeria's interventions on the agricultural sector within an economy-wide framework of general equilibrium modelling. The paper adopted a dynamic (recursive), two-sector general equilibrium model of the Nigerian economy with some modifications on the standard model developed by the Centre for Econometric and Applied Research (CEAR) and incorporated the contributions of the CBN's agricultural based interventions as increases in the stock of agricultural capital to have a more robust size of interventions into the agricultural sector. The SAM used for the CGE model analysis was derived from the updated …
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 …
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.
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.
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.