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Articles 751 - 780 of 1240

Full-Text Articles in Economics

Welcome Address: Seminar On Current Economic Reforms In Nigeria: The Case Of Deregulating The Downstream Petroleum Subsector, P. O. Okonkwor Dec 2004

Welcome Address: Seminar On Current Economic Reforms In Nigeria: The Case Of Deregulating The Downstream Petroleum Subsector, P. O. Okonkwor

Economic and Financial Review

This is the welcome address by P. O. Okonkwor, Branch Controller, Central Bank of Nigeria, Ilorin, at the In-house seminar on “current economic reforms in Nigeria: the case of deregulating the downstream petroleum subsector’’ for CBN Executive Staff, Ilorin, October 25-29, 2004.

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Pricing Of Petroleum Products In Nigeria And The Issue Of Price Subsidy, G. E. Ukpong Dec 2004

Pricing Of Petroleum Products In Nigeria And The Issue Of Price Subsidy, G. E. Ukpong

Economic and Financial Review

This article re-examines the policy on petroleum products pricing, especially against the background 'Of government's decision in October 2003 that crude oil for domestic consumption be paid for at the prevailing international price, in order to suggest a way forward. The issue of subsidy is also discussed in that context. The rest of the paper is organized as follows: Section II contains literature review on petroleum products pricing and subsidy. Petroleum products pricing and subsidy management in Nigeria is found in section III. Section IV contains suggested way forward in products pricing in Nigeria as well as concluding thoughts.

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Deregulation Of The Downstream Petroleum Sector: The Journey So Far, Oluwole Oluleye Dec 2004

Deregulation Of The Downstream Petroleum Sector: The Journey So Far, Oluwole Oluleye

Economic and Financial Review

This article examines deregulation of the downstream petroleum sector in Nigeria. The article first discusses: the Nigerian government's aspirations as at 1999, evolution of the present deregulation policy, deregulation concept and downstream operators. This is followed by an examination of the Nigerian government responsibilities to operators, responsibilities of oil marketing companies, responsibilities of industry associations and responsibilities of regulatory authorities. The article then explains the mandate and vision of the PPPRA in addition to its goals and objectives. Other issues addressed by the article include: appropriate pricing, global taxation scheme, policy development in fuel taxation objectives, appropriate pricing policy. Experiences …

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Keynote Address: Seminar On Current Economic Reforms In Nigeria: The Case Of Deregulating The Downstream Petroleum Subsector, Ernest C. Ebi Dec 2004

Keynote Address: Seminar On Current Economic Reforms In Nigeria: The Case Of Deregulating The Downstream Petroleum Subsector, Ernest C. Ebi

Economic and Financial Review

This is the Keynote address by Ernest C. Ebi, Deputy Governor Central Bank of Nigeria, Abuja, Central Bank of Nigeria, at the In-house seminar on “current economic reforms in Nigeria: the case of deregulating the downstream petroleum subsector’’ for CBN Executive Staff, Ilorin, October 25-29, 2004.

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Special Remarks: Seminar On Current Economic Reforms In Nigeria: The Case Of Deregulating The Downstream Petroleum Subsector, 0. J. Nnanna Dec 2004

Special Remarks: Seminar On Current Economic Reforms In Nigeria: The Case Of Deregulating The Downstream Petroleum Subsector, 0. J. Nnanna

Economic and Financial Review

This is the special remarks by O. J. Nnanna, Director of Research, Central Bank of Nigeria, Abuja, at the In-house seminar on “current economic reforms in Nigeria: the case of deregulating the downstream petroleum subsector’’ for CBN Executive Staff, Ilorin, October 25-29, 2004.

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Funding Of Oil Sector Activities In Nigeria, G. Nzekwu Dec 2004

Funding Of Oil Sector Activities In Nigeria, G. Nzekwu

Economic and Financial Review

The article examines the funding of the Nigerian oil sector considering the special importance to Nigeria and the critical impact Nigeria's oil has on the world economy. Nigeria, currently the seventh largest oil producer in the world has an oil reserves which represent 6 percent of the world's total outside the Middle East. With 4 per cent of total global production, and the fifth-largest oil producer within OPEC, Nigeria is well located relative to the world markets and so attracts buyers from the major world economies. The article then examines how higher prices of Nigeria’s oil affect the global economy; …

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The Social Implications Of The Deregulation Of The Downstream Petroleum Sub-Sector, Ogecbukwu Ugbam Dec 2004

The Social Implications Of The Deregulation Of The Downstream Petroleum Sub-Sector, Ogecbukwu Ugbam

Economic and Financial Review

This article examines the social implications of the deregulation of the downstream petroleum sub-sector in Nigeria. The deregulation of the downstream petroleum sector is part of the economic reform package of the present administration that is designed to among diversify the economic base of the country and reduce the relative dominance of the oil sector, and to create a vibrant sector that can respond to the rigors of market forces (NEEDS Document,). The article covers topics that include: an examination of the the downstream sub-sector and the rationale for deregulating the downstream sub-sector. This is that optimal allocation of resources …

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Financial Sector Development And Economic Growth In Nigeria: An Empirical Investigation, J. Nnanna Sep 2004

Financial Sector Development And Economic Growth In Nigeria: An Empirical Investigation, J. Nnanna

Economic and Financial Review

In this paper, a single equation econometric model is specified to assess the impact of the Nigerian financial sector on economic growth. In recognition of the key role the financial sector plays in economic development, the paper recommends the sustenance of distress resolution initiatives, adequate capitalization of the banks, reduction of government dominance in the credit market, and a comprehensive approach to financial sector surveillance.

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Financial Reforms And Interest Rate Spreads In The Commercial Banking System In Malawi - A Review Financial Reforms And Interest Rate Spreads In The Commercial Banking System In Malawi By E. W. Chirwa And Mlachila, Imf Staff Papers, Vol. 51, No.1, 2004., R. O. Olaitan Sep 2004

Financial Reforms And Interest Rate Spreads In The Commercial Banking System In Malawi - A Review Financial Reforms And Interest Rate Spreads In The Commercial Banking System In Malawi By E. W. Chirwa And Mlachila, Imf Staff Papers, Vol. 51, No.1, 2004., R. O. Olaitan

Economic and Financial Review

The specific objective of the paper was to carry out an empirical investigation on the impact of financial sector reforms (pre-and-post liberalization periods) on interest rate spreads in the commercial banking system of the Malawian economy. The paper posits that pre-liberalization period of the Malawian financial sector was predominantly under the control regime. This policy regime also encompassed the country's monetary policy design and management. specifically, the ceiling on interest rates, credit limits, and the specification of a fixed exchange rate regime, among others.

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Fiscal Sustainability In The West African Monetary Zone: Emerging Issues, Emmanuel Ating Onwioduokit Sep 2004

Fiscal Sustainability In The West African Monetary Zone: Emerging Issues, Emmanuel Ating Onwioduokit

Economic and Financial Review

The paper discusses the theoretical issues in assessing fiscal sustainability and adopted an eclectic approach to measure sustainability in the monetary zone and also identifies the need for further tax reforms in the WAMZ to focus on the broadly based taxes such as Value Added Tax (VAT).

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Some Recent Trends In Commercial Banking - A Review Some Recent Trends In Commercial Banking By Huberto M. Ennis, Federal Reserve Bank Of Richmond, Economic Quarterly, Volume 90/2, Spring 2004, M. K. Mba Sep 2004

Some Recent Trends In Commercial Banking - A Review Some Recent Trends In Commercial Banking By Huberto M. Ennis, Federal Reserve Bank Of Richmond, Economic Quarterly, Volume 90/2, Spring 2004, M. K. Mba

Economic and Financial Review

The specific objective of the paper was to carry out an empirical investigation on the impact of financial sector reforms on interest rate spreads in the commercial banking system of the Malawian economy. A monthly panel data was used from five Malawian commercial banks covering a period of ten years.

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Employment Creation And Opportunities In The Manufacturing Sub-Sector. The Case For Neem Tree In Nigeria., Abdullahi Abubakar Sep 2004

Employment Creation And Opportunities In The Manufacturing Sub-Sector. The Case For Neem Tree In Nigeria., Abdullahi Abubakar

Bullion

This paper is focused on neem oil production for both local and export markets. It examines Neem, (Azadirachta indica A Juss), an evergreen tree that belongs to the family, Meliaceae and is known by the botanical name Azadirachta indica A Juss. lt is a fast growing tree, well adapted to semi-arid conditions and grows well on poor shallow stony or sandy soils where agricultural crops give low yields despite the application of fertilisers. The paper examines the origin of the neem tree, composition, uses, products, investment potentials and financial analysis on profile for neem seeds processing. The study conclude that …

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Employment Generation And Opportunities In The Manufacturing Sub-Sector. The Case For The Manufacturing Of Farm Implements., Ihinodu I. I Sep 2004

Employment Generation And Opportunities In The Manufacturing Sub-Sector. The Case For The Manufacturing Of Farm Implements., Ihinodu I. I

Bullion

The modernization of agriculture has the potential to achieve the various objectives of creating employment, increasing productivity and output in both the sector and the entire economy, thus contributing to the food security goal of the government. This paper aims primarily at examining the prospects as well as the processes of manufacturing agricultural implements with a view to encouraging small/medium entrepreneurs to engage in the ventures. It examines the manufacturing activities of farm implements. It analyses the role which governments should play as well as highlighting the potential benefits of the enterprises. The paper conclude that given the stage of …

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Employment Creation And Opportunities In The Manufacturing Sub-Sector. The Case For The Production Of Corn Flakes., Abdullahi Abubakar Sep 2004

Employment Creation And Opportunities In The Manufacturing Sub-Sector. The Case For The Production Of Corn Flakes., Abdullahi Abubakar

Bullion

Cornflakes production is a promising viable business considering the increasing rate of urbanizing and our penchant for fast foods. Moreover, the demands of children for breakfast cereals especially in preparation for school and even in leisure times made the cornflakes business a promising and worthwhile venture for consideration by any aspiring entrepreneur. This paper examines cornflakes production, machinery and equipment, production process, market potentials, production capacity, financing cornflakes production and necessary approvals. The study concludes that The value added in a gross output of about sixty small textile mills with a gross output of N1.014 Trillion is N0.670 Trillion. This …

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Employment Creation And Opportunities In The Manufacturing Sub-Sector. The Millinery Industry In Nigeria., Mark Chito Mrs. Sep 2004

Employment Creation And Opportunities In The Manufacturing Sub-Sector. The Millinery Industry In Nigeria., Mark Chito Mrs.

Bullion

This paper examines the establishment of millinery factory in Nigeria, the capital outlay, equipment, landscape, sources of materials, profitability and target market. The paper contends that anybody can learn hat making skills and procedure but sustainability in the millinery industry is a function of creativity, foresight and artistic venturesome-ness. The study argues that the foreign market for Nigerian hats may well exceed that of the local in leaps and bounds. Nigeria appears to have a traditional attitude of disdain against their own locally produced materials even when such is internationally recognised and accepted.

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Employment Creation And Opportunities In The Manufacturing Sub-Sector: The Case For The Manufacturing Of Cotton, Textile In Nigeria., Onuoha G. Nkem Sep 2004

Employment Creation And Opportunities In The Manufacturing Sub-Sector: The Case For The Manufacturing Of Cotton, Textile In Nigeria., Onuoha G. Nkem

Bullion

Nigeria is the third largest producer of cotton in Africa after Egypt and Sudan. Cotton growing zones are mainly in the Northern parts of the country, though the planting of cotton started in Western Nigeria. This paper focusses on the manufacture of cotton, textile in Nigeria, sources of material available, the equipment required, manpower, the land space required, the capital outlay and Profitability of the business. The paper concludes that from the financial result of the above analysis, the project is economically viable and technically feasible. Neem Seeds as Raw Materials is in abundance and can be sourced at lower …

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Foreign Private Investment In Nigeria - 2003, Payments Of Payment Office Sep 2004

Foreign Private Investment In Nigeria - 2003, Payments Of Payment Office

Economic and Financial Review

In Part I, the flows of foreign investment by regions of origin, components and sectoral distributions are discussed. The cumulative and net foreign investments are analyzed in Parts II and Part III, respectively. Part IV focuses on foreign investment m the Manufacturing and Processmg sub-sector by industries and by regions. The cost and book values of the fixed assets of the establishments are examined in Part V, whtle the cumulative and current reserves for depreciation of these assets are presented in Part VI. The ownership structure and equity of the companies are presented in Part VII, while Part VllI summarizes …

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On The Stability Of The Demand For Money Function In Nigeria, Dipo T. Busari Sep 2004

On The Stability Of The Demand For Money Function In Nigeria, Dipo T. Busari

Economic and Financial Review

Using the cointegration error correction approach on annual data for the period 1970-2002, the study estimated a money demand function for Nigeria and examined some stability issues.

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Investment In Soap Production., Olatunji O. Jul 2004

Investment In Soap Production., Olatunji O.

Bullion

Soap production business is in the group of industrial ventures that could easily be operated on a small scale to boost the country's economic development. This paper focusses on the Product, market information, raw materials for making soap, Standard Organization of Nigeria (SON) regulations for soap, production process, machinery and equipment requirement, proposed production programme. manpower requirement, space requirement and estimated total capital requirement. The study conclude that the project requires the services of both skilled and unskilled labour. For the capacity recommended, the following labour force is required: one Production Manager, six Production Assistants, twelve Factory Operators, two Marketing …

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Review And Appraisal Of 2003 Budget And Economic Performance., Ige S. Cyril Jun 2004

Review And Appraisal Of 2003 Budget And Economic Performance., Ige S. Cyril

Bullion

The first set of problems in realizing the benefits of a national budget in Nigeria, the 2003 Federal Government Budget in particular, is the delay in formulation and presentation to the National Assembly. This paper examines various definitions of the national budget as understood by some of the important stakeholder. It discusses budget implementation and management, budget 2003 and the people, strengthening programming as a basis of budgeting for development, and co-ordination of economic management in 2003. Finally, the study concludes that NEEDS is a welcome idea but its goals will prove difficult to achieve because of the flaw in …

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Implications Of The Monetisation Of Civil Service Fringe Benefits On The 2004 Federal Government Budget, Ahmed Y. Mahmud Jun 2004

Implications Of The Monetisation Of Civil Service Fringe Benefits On The 2004 Federal Government Budget, Ahmed Y. Mahmud

Bullion

Monetization is the conversion of benefits previously made available in kind to public officers into cash payment. This paper examines the monetization policy introduced in the 2004 Budget, the impact of monetization on the budget and the effect of monetization on beneficiaries. Finally, It must be realized however, that the cost of so me of the benefits that will no longer be provided by the government will have to be made good by the erstwhile beneficiaries. Also, the amounts being paid out for the monetized items are set at less than their market value. While such a measure would exert …

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Rozlyn Coleman, " Confronting Budget Deficits" Imf Economic Issues No. 3, 2000: A Review., Newman C. Oputa Jun 2004

Rozlyn Coleman, " Confronting Budget Deficits" Imf Economic Issues No. 3, 2000: A Review., Newman C. Oputa

Economic and Financial Review

The document is based on the fiscal operations of major industrial countries and presents a major concern that it is not the size of the budget as a ratio of the gross domestic product (GDP) that matters, but the persistence of budgetary shortfalls during long periods of peace, when governments traditionally offset their debts and save for the future.

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Fiscal Policy Thrust Of The 2004 Budget., Odoko F. O Jun 2004

Fiscal Policy Thrust Of The 2004 Budget., Odoko F. O

Bullion

The budget is an important tool of economic management. Usually, it presents estimates of Government revenue and expenditure for a fiscal year. The objective of this paper is to provide an overview of the fiscal policy measures in the 2004 Budget. This paper contains the background to the budget, the policy thrust and the key parameters. It highlights the revenue and expenditure estimates and identifies the policy priorities and prospects. Finally, a good monetary policy is expected to achieve macro economic stability and a sound financial sector if effectively implemented and barring fiscal shocks. Overall, socio-political stability and fiscal discipline …

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Monetary And Other Financial Sector Policy Measures In 2004., Nnanna O. J Jun 2004

Monetary And Other Financial Sector Policy Measures In 2004., Nnanna O. J

Bullion

The objective of this paper is to review the monetary and other financial sector policy measures in 2004, with a view to identifying how they assist in achieving the macroeconomic objectives of the government in fiscal 2004. This paper evaluates the financial sector and the macroeconomic developments during fiscal 2003. It examines the monetary and other financial sector policies in 2004. A good monetary policy is expected to achieve macro economic stability and a sound financial sector if effectively implemented and barring fiscal shocks. Overall, socio-political stability and fiscal discipline are critical factors for the effectiveness of monetary policy. The …

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Keynote Address At The Policy Seminar On The 2004 Federal Government Budget., Sanusi J. O Dr. Jun 2004

Keynote Address At The Policy Seminar On The 2004 Federal Government Budget., Sanusi J. O Dr.

Bullion

This is a Keynote address delivered at the Policy Seminar on the 2004 Federal Government Budget, jointly organized by the Central Bank of Nigeria (CBN), the National Centre for Economic Management and Administration (NCEMA) and the Nigerian Economic Society (NES). The seminar is the ninth in the series of the inter-agency collaborative effort, aimed at providing a forum for major stake-holders in the economy to critically analyse and evaluate the adequacy, or otherwise of the current fiscal and monetary policy measures, in achieving the central objectives of the Federal Government.

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External Sector Policies In The 2004 Budget, Obadan I. Mike Jun 2004

External Sector Policies In The 2004 Budget, Obadan I. Mike

Bullion

External sector problems have continued to pose serious challenges to economic management in Nigeria. There is the challenge of conducting trade policy within the framework of the World Trade Organisation's [WTO] rules and regulations without compromising the country's short and Iong-term interests. This paper discusses the policy thrusts with respect to three issues in 2004, viz: Trade policy, Exchange rate policy, and External debt management. In the last few years, the government appears to have recognized the need to conduct trade policy, specifically, trade liberalization in a sensible and orderly manner. Hence, the growing effective protection being accorded local industries. …

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Real Sector Policies In The 2004 Budget, A I. Ayodele Jun 2004

Real Sector Policies In The 2004 Budget, A I. Ayodele

Bullion

The real sector of the economy is composed of such sub-sectors as agriculture, manufacturing, mining (solid minerals), crude oil and gas. Given this composition, it is no gainsaying that the real sector of the Nigerian economy constitutes the main driving force of the country, such that no sustainable development can be achieved without a well-developed and viable real sector. This paper examines the Nigerian real sector. It looks at the features which constitute some threats to the success of policies on the real sector. It makes a review of the real sector policies in the 2004 budget and It focusses …

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Assessment Of Nigeria's Domestic Debt Sustainability, S.C. Rapu Jun 2004

Assessment Of Nigeria's Domestic Debt Sustainability, S.C. Rapu

Economic and Financial Review

This paper attempts to measure the sustainable domestic debt stock level of the Federal Government of Nigeria over a period of time. This is necessary, considering the growing proportion of the cost of domestic debt service in Federal Government total expenditure. The paper addresses definitional issues about domestic debt and domestic debt sustainability relative to national output as well as the necessary policy implications. It also examined the causes, size and growth, sources and structure. Using the budget constraint model relative to GDP, the paper concludes that under the current fiscal stance of primary deficit, the Federal Government domestic debt …

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Keynote Address, Sanusi O. Joseph Mar 2004

Keynote Address, Sanusi O. Joseph

Bullion

This is a keynote address delivered at the 5th Annual Finance Correspondents and Business Editors Seminar held in Owerri, lmo State from 26th – 28th January, 2004. It is the fifth in the series of the seminar initiated by the Central Bank of Nigeria (CBN), to enhance the understanding and analytical ability of Finance Correspondents and Business Editors on topical economic issues, particularly monetary and financial sector development. It presents an opportunity for them to appreciate and analyse the Bank's policies and operations better, as well as, facilitate improvement in reporting on those issues. It will help …

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An Overview Of The Nigerian Financial System, Aderibigbe J. O. Mar 2004

An Overview Of The Nigerian Financial System, Aderibigbe J. O.

Bullion

Financial systems, the world over, play fundamental roles in the development and growth of the economy. The effectiveness and efficiency in performing these roles, particularly the intermediation between the surplus and deficit units of the economy, depend largely on the level of development of the financial system. It is to ensure its soundness that the financial sector appears to be the most regulated and controlled by the government and its agencies. This paper discusses issues and strategies for enhancing the soundness and stability of the nation's financial system, the roles of the financial system in the promotion of economic growth …

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