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Articles 1081 - 1110 of 1240

Full-Text Articles in Economics

Developments In The External Sector During The Fourth Quarter Of 1990, Central Bank Of Nigeria Cbn Dec 1990

Developments In The External Sector During The Fourth Quarter Of 1990, Central Bank Of Nigeria Cbn

Economic and Financial Review

The external sector came under more severe pressure during the fourth quarter of 1990. This was attributed to developments in both foreign exchange receipts and outpayments. While foreign exchange receipts declined by 9.1 per cent, outpayments rose by 23.4 per cent from their levels in the third quarter. As a result of these developments, the overall movement in foreign exchange, which showed a slight surplus in the third quarter of 1990 vis-a-vis the fourth quarter of 1989, turned around to a deficit of $390.3 million in the fourth quarter of 1990. This is significant since it was the only quarter …

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Banks-Customers Relations: Implications For Strategic Planning., Chris Ochonogor Dec 1990

Banks-Customers Relations: Implications For Strategic Planning., Chris Ochonogor

Bullion

The paper examines Banks-customers relations and how it will help in strategic planning. ln dealing with this subject, the paper considered three facets. The legal relationship and the impact of the public relations and marketing aspects as they effect banking and banking business, and the implication for strategic planning.

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Concepts, Assumptions And Scope Of Strategic Planning., Boniface Chizea Dr Dec 1990

Concepts, Assumptions And Scope Of Strategic Planning., Boniface Chizea Dr

Bullion

Strategic planning is a systematic and formalised approach to a realistic determination of the banks objectives, goals and strategies. The operatives and word here is realistic for their is no organisation without objectives. The article discusses the elaborate procedure adopted by a bank intent on introducing formalised planning. It highlighted loopholes to be avoided if the bank is to have any chance of seeing its plan implemented. Finally, the author shared the experience of United Bank for Africa (UBA), limited in strategic planning.

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The Mechanics For Evolving A Strategic Planning Culture In An Organization., O J. Oni Dr Dec 1990

The Mechanics For Evolving A Strategic Planning Culture In An Organization., O J. Oni Dr

Bullion

This paper examines the concept of planning culture in an organisation. It discusses the concept of organisational culture; the mechanics for evolving strategic planning culture; organisation structure and concludes with some suggestions for developing a culture of strategic planning. This includes: The style of planning should be participatory. lf the plan is to be meaningful and a sound basis for future action, the Planning team must include adequate representation at senior management level and its terms of reference and underlying Purpose must be known and understood throughout those parts of the organisation whose activities will be affected; the scope of …

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Debt Crisis In The West African Sub-Region: Which Way Out?, M A. Uduebo Oct 1990

Debt Crisis In The West African Sub-Region: Which Way Out?, M A. Uduebo

Bullion

The resolution of the debt problem has continued to engage the attention of the international community. In reaction to the problem, many debtor countries have adopted structural adjustment programmes and various proposals have been espoused and, in some cases, implemented. Nevertheless, the debt crisis is far from being resolved. It is now patently clear that a more realistic solution to the problem is needed in the 1990s to break the debt trap. This forum graced by eminent bankers, offers another opportunity to re-examine the salient issues and proffer new ideas and suggestions on how best to address the situation. The …

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Entral Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1989, Central Bank Of Nigeria Dec 1989

Entral Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1989, Central Bank Of Nigeria

CBN Annual Report

The Nigerian economy showed improvement in 1989 compared to 1988. Economic Growth: Gross Domestic Product (GDP) increased by 4.0%, driven by growth in agriculture and industry. The overall balance of payments moved from a deficit to a surplus, largely due to a significant increase in crude oil exports. The unemployment rate declined slightly, with more jobs created through government programs. Nigeria's external assets increased significantly, reflecting a deliberate policy to build official reserves. Inflation: Despite some improvement, inflationary pressures remained high, with domestic prices rising by 40.9%. Stagnant Manufacturing: Manufacturing production grew at a slow pace due to high production …

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Nigeria's Insurance Industry In 1987, Central Bank Of Nigeria Cbn Jun 1989

Nigeria's Insurance Industry In 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Important rughlights of the report include the fact that Insurance business was prosperous in 1987 as the income of insurers rose significantly faster than their expenditures. However, the prosperity affected the companies in the nonlife business more as the premium income of life insurance companies declined sharply in 1987 during which period their expenditure also increased. In terms of ownership, the prosperity accrued mainly to wholly indigenous non-life companies most, as these companies dominated the more lucrative aspects of insurance business in 1987. Another important point in the report is the fact that minimum paid-up capital stipulated in the Insurance …

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Developments In The Agricultural Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Agricultural Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

There was a renewed optimism during the quarter that substantial growth in output could occur during the year, if the improvement in weather conditions and production environment was sustained. Available data showed that average monthly rainfall during the quarter was 177.53mm, representing a substantial rise over the 15 .4mm of the preceding quarter (which experienced an unusually prolonged dry spell) and about 18.3 per cent over the level of 150.1mm in the corresponding period of 1988. The distribution pattern showed that all the states of the Federation recorded rains during the quarter.

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Developments In The Industrial Sector In The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Industrial Sector In The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

Aggregate industrial output improved during the second quarter of the year in spite of the problems of high production costs and liquidity constraints. The index of industrial production at 225.6 (1972 = 100) increased by 6.7 and 3.6. per cent over its levels 'in the corresponding quarter of 1988 and the first quarter of 1989, respectively (see table I). Compared with its level in the corresponding quarter of 1988, the rise in industrial output was accounted for by the respective increases of 20.6 and 2.4 per cent in mining and manufacturing output which outweighed the decline of 2.8 per cent …

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Private Business In Developing Countries: Improved Prospects By Guy P. Pfeffermann, M. Ajayi Jun 1989

Private Business In Developing Countries: Improved Prospects By Guy P. Pfeffermann, M. Ajayi

Economic and Financial Review

The paper is divided into five sections as follows: Background. Growth prospects, Prospects for the Private sector in Developing countries. Privatisation, and Foreign Direct Investment. The background section appraised some of the economic policies pursued and developments in developing countries in the last 2 decades. The section emphasised the existence of interdependence of the effect of economic policies and conditions of the developed and developing countries. For instance, the author stressed that the recent slow-down of growth in IJie developing countries has been one of the factors holding back the growth of output in the OECD countries.

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Developments In The Financial System During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Financial System During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The financial system was under intense pressure in the second quarter of 1989 following the measures adopted by the monetary authorities to reduce the liquidity of the banking system and thereby combat the inflationary pressure in the economy and continued depreciation of the Naira exchange rate. The gradual strengthening of the squeeze on liquidity was accompanied by liquidity crisis among some banks towards the end of the quarter.

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Stock Market Report For The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Stock Market Report For The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The main event that dominated the transactions on the Nigerian Stock Exchange during the second quarter, 1989 was the compulsory transfer of the accounts of ministries and parastatals from the commercial and merchant banks to the CBN. In an attempt to raise their liquidity positions the banks and other private holders of Federal Government Development Stocks unloaded their holdings of the stocks on the Exchange. Consequently, the total volume of stocks traded rose from 14.9 million in 6558 deals during the first quarter of 1989 to 270.9 million in 8307 deals in the quarter under review. Compared with the corresponding …

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Developments In The Retail Prices Of Selected Consumer Items In Lagos Area During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Retail Prices Of Selected Consumer Items In Lagos Area During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The results obtained from the price surveys of selected consumer items in the Lagos Area during the second quarter of 1989, indicated an upward movement in the prices of most of the items sampled. While some items recorded modest price declines below the level in the first quarter of 1989, these declines were not enough to offset the increases noticed in all the component price indices. Most of the traders interviewed during the surveys attributed the increase in prices mainly to rising costs of production inputs, and transportation as well as excess demand pressures on agricultural commodities.

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Developments In The External Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The External Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

The pressure on the external sector eased considerably in the second quarter of 1989 as foreign exchange flows into. and out of the economy indicated a turn around from a net outflow of 'fijl .7 million in the second quarter of 1988 to a net inflow of $245 .0 million. The improvement was attributed to increased earnings by the oil sector due to the rise in crude oil prices and export volume, increased drawings on external loans, decline in debt service and reduced funding of the foreign exchange market. However, the position represented a deterioration when compared with the net …

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The Evolution Of The Nigerian Financial System: Problems, Challenges And Prospects, Ben A. Oke Jun 1989

The Evolution Of The Nigerian Financial System: Problems, Challenges And Prospects, Ben A. Oke

Economic and Financial Review

The paper reviews the evolution of the Nigerian financial system and articulates some of its current problems and challenges for the future, especially in the light of the liberalised trade and exchange regime initiated under the Structural Adjustment Programme (SAP). The paper examines the evolution of the major institutions in the financial system in the context of the changing pattern of economic and regulatory environment in which they operate. It observes that the financial system has undergone substantial changes since 1960 in terms of number and variety of financial intermediaries, the depth and breadth of instruments, as well as the …

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Nigeria's External Debt Problems: A Review Of Management Efforts And The Prospects, M. O. Ojo Jun 1989

Nigeria's External Debt Problems: A Review Of Management Efforts And The Prospects, M. O. Ojo

Economic and Financial Review

This article provided the most recent information on efforts being made to reduce Nigeria's huge external debt burden. In order to evaluate such efforts, it discussed both theoretical and practical issues on the international management of the debt crisis. It was observed that the wide gulf between the debtor countries and the creditors, especially the commercial banks has been significantly bridged in the last three years. The article noted that while Nigeria has made commendable progress in reducing her debt burden, a lot more still needs to be done to make the efforts to have the desirable positive impact. More …

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Towards A Single Monetary Zone In The Ecowas Sub-Region: A Progress Report, S. E. Omoruyi Jun 1989

Towards A Single Monetary Zone In The Ecowas Sub-Region: A Progress Report, S. E. Omoruyi

Economic and Financial Review

The call for a common currency for the West African sub-region has been considered generally as a veritable vehicle for achieving the primary objective of establishing exchange arrangements for free intra-regional payments. Such arrangements are deemed necessary to promote faster growth of intra-regional trade, and thereby foster economic development in the ECOWAS sub-region. Pursuant to this objective, the Authority of the Heads of State and Government of ECOWAS took a decision that studies be commissioned on the possibility of creating a single monetary zone in ECOWAS sub-region. Following that decision, the Committee of Governors of Central Banks of ECOWAS at …

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Africa's Adjustment And Growth In The 1980s: The World Bank And The Undp; Charles Humphreys And Williams Jaeger & C0., 31pp., March 1989, H. N. Okonta Jun 1989

Africa's Adjustment And Growth In The 1980s: The World Bank And The Undp; Charles Humphreys And Williams Jaeger & C0., 31pp., March 1989, H. N. Okonta

Economic and Financial Review

The paper, "'Africa's Adjustment and Growth in the 1980s" was written by a team led by Charles Humphreys and William Jaeger of the World Bank. They reviewed on Sub-Saharan Africa's economic experience in the 1980s from a new perspective as against that which was generally perceived as one of crisis and decline caused largely by hostile external factors. The paper was divided into six parts. Part one is an overview of the causes that led to the region's current problems. Sections 2, 3 and 4 analytically dis,:uss the developments in trade and commodity prices, the international community's response with more …

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Statistics (June 1989), Central Bank Of Nigeria Cbn Jun 1989

Statistics (June 1989), Central Bank Of Nigeria Cbn

Economic and Financial Review

This a statistical representation of the economic activities in Nigeria in June 1989

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Developments In The Agricultural Sector During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn Dec 1987

Developments In The Agricultural Sector During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

With the emergence of the dry season and harmattan in most parts of the country, very little farming activity took place during the fourth quarter of 1987. Rather, some northern states, namely, Bauchi, Niger and Sokoto reported serious drought with grasshopper infestations which damaged thousands of hectares of farm crops. However, a total of 124,788 metric tonnes of fertilizers were distributed to farmers across the country in preparation for the next farming season. This figure represents a decrease of 41.6 per cent over the level in the preceding quarter.

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Stock Market Report For The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn Dec 1987

Stock Market Report For The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

A total of 5.9 million shares were traded in 4,752 deals in the period under review. This represents a decline of 0.6 million shares, or 9.2 per cent over the preceding quarter. The bearishness of the stock market during the review quarter emanated from the liquidity squeeze in the economy coupled with the deregulation of interest rates. Actively traded were the securities of Nigerian Breweries Ltd.: (1,204,379 shares), G. Cappa Ltd.: (793, 100 shares), Lever Brothers Nigeria Ltd.: (399,586 shares), Guinness Nigeria Ltd.: (345,465 shares) and Beecham Ltd.: (323,418 shares).

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Report On Retail Price Indices Of Selected Consumer Items In Lagos Area For The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn Dec 1987

Report On Retail Price Indices Of Selected Consumer Items In Lagos Area For The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

There was a general rise in the prices of selected consumer items in the Lagos Area during the fourth quarter of 1987. This is evidenced by the 2.3 per cent rise in the all-item price index vis-a-vis its level in the third quarter of 1987

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The Structural Adjustment Programme: The Journey So Far, A Ahmed Dec 1987

The Structural Adjustment Programme: The Journey So Far, A Ahmed

Economic and Financial Review

The SAP was introduced to achieve the following objectives: (i) To restructure and diversify the productive base of the economy in order to reduce dependence on the oil sector and imports; (ii) to achieve fiscal and balance of payments viability over the period; (iii) to lay the basis for sustainable non-innationary or minimal inOationary growth; (iv) to lessen the dominance of unproductive investment in the public sector, improve the sector's efficiency and intensify the growth potential of the private sector.

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A General Survey Of The Experiences Of Some Less-Developed Countries (Ldcs) Under The Structural Adjustment Programme (Sap), O. J. Nnanna Dec 1987

A General Survey Of The Experiences Of Some Less-Developed Countries (Ldcs) Under The Structural Adjustment Programme (Sap), O. J. Nnanna

Economic and Financial Review

This paper is a review of the impact of Structural Adjustment Programme (SAP) on the economies of ten less developed countries (LDCs). It analysed the performance of some selected macroeconomic variables both before and after SAP was adopted in the selected countries. Based on available data, the several and collective lesson of experience confirmed that the impact of SAP varied not only amongst countries, but also within the various sectors in the same economic entity. Overall, it may be concluded that the broad theoretical objective of SAP was achieved mainly on the external sectors of the countries surveyed, while it …

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Developments In The Financial System During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn Dec 1987

Developments In The Financial System During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Growth in monetary aggregates accelerated during the fourth quarter, as the narrow measure of money stock (Ml) rose substantially by 20.2 per cent, compared with 5.0 per cent in the preceding quarter. The major factors responsible for this increase were increased government reliance on bank credit to bridge budgetary gaps and the traditional seasonal rise in demand for credit by the private sector. The broad money (M2) also rose as a result of the rise in Ml and the expansion in commercial banks' time and saving deposit liabilities, following the enhanced yield on these deposits.

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Developments In Nigeria's External Sector During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn Dec 1987

Developments In Nigeria's External Sector During The Fourth Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Transactions in foreign exchange through the Central Bank resulted in a net inflow of N495.7 million during the 4th quarter of 1987, as against a net inflow of Nl,184.5 million in the preceding quarter. This development increased the official reserves from N4, 159.0 million at the end of the 3rd quarter to N4,654. 7 million at the end of 1987. However the foreign exchange position was far from comfortable as the level of reserves could cover barely two months' imports.

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A Review Of The Structural Adjustment Programme, The Foreign Exchange Market And Trade Policies In Nigeria, S. E. Omoruyi Dec 1987

A Review Of The Structural Adjustment Programme, The Foreign Exchange Market And Trade Policies In Nigeria, S. E. Omoruyi

Economic and Financial Review

The purpose of the paper was to throw more light on the Structural Adjustment Programme currently under implementation in Nigeria through a detailed review and appraisal of its policy framework . This was considered to be desirable in view of recent public criticisms many of which appeared not to be well informed. In a more balanced approach, the paper reviewed the benefits and costs of the Programme. Among the benefits highlighted were the removal of the overvaluation of the naira exchange rate, the boost to agricultural exports, greater industrial capacity utilization and the improved international confidence in the Nigerian economy. …

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Common Currency For The West African Sub-Region: Prospects For Nigeria, N. E. Ogbe Dec 1987

Common Currency For The West African Sub-Region: Prospects For Nigeria, N. E. Ogbe

Economic and Financial Review

An important element of the economic integration process in West Africa is the achievement of monetary co-operation which can take various forms such as the clearing house mechanism, European Monetary System Model, Parallel Union Currency Model and Common Currency Area. The paper traced the efforts by ECOW AS at evolving monetary co-operation and also analysed the prospects for Nigeria of a common currency in the West African sub-region. The paper identified and discussed the costs and benefits of a common currency to member nations, especially Nigeria. The costs include loss of autonomy by individual governments in major areas of monetary …

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Management Of The Nigerian Economy, E. A. Akatu, E. U. Olisadebe Dec 1987

Management Of The Nigerian Economy, E. A. Akatu, E. U. Olisadebe

Economic and Financial Review

The paper reviews the current economic policy framework against the background of the economic policy regime up to 1985 and observes that the past experience justifies the current experiment with private markets as the principal mechanism for allocating resources. The paper argues that the visible hand of the government does have a supportive role, a lbeit a different one from the past. The new approach is considered as having great potential although ultimate success is as yet beset by various uncertainties as may be expected from any experiment.

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Statistics, December 1987, Central Bank Of Nigeria Cbn Dec 1987

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

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