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Full-Text Articles in Economics

Macroeconomic Stability And The Role Of Financial Institutions In Promoting Financial Inclusion In Nigeria, Mbutor O. Mbutor, Ibrahim A. Uba Jun 2016

Macroeconomic Stability And The Role Of Financial Institutions In Promoting Financial Inclusion In Nigeria, Mbutor O. Mbutor, Ibrahim A. Uba

Bullion

This article discusses the role of financial institutions in promoting financial inclusion in Nigeria as well as its macroeconomic stability. Positive growth of the economy is prerequisite for financial inclusion but the stability of the economy is sine qua non for economic growth. Therefore, the discussion of financial inclusion is best served when enclosed in the framework of the extent to which the economy is stable. The article further highlights financial inclusion and its related concepts and the role of financial institutions in promoting financial inclusion.

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Regional And Multilateral Institutional Arrangements In Africa: Rethinking The Imperatives Of Economic Diversification And Trade Development In Nigeria., Harrison O. Okafor Jun 2016

Regional And Multilateral Institutional Arrangements In Africa: Rethinking The Imperatives Of Economic Diversification And Trade Development In Nigeria., Harrison O. Okafor

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This paper critically assesses the implications of the multilateral trading system along the increasing but asymmetric interface between multilateral and regional institution on African economies with particular evidence for Nigeria. The issues relating to market access, export diversification and supply response to incentives derived from the various agreements provided basis for this reasoned analysis vis-à-vis the implications for growth and trade development imperatives. lt is revealed that the multilateral trading system has not benefited the SSA particularly Nigeria, relative to other regions like Asia. Perhaps. internal and external constraints associated with poor economic fundamentals, asymmetries between the rules of the …

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The Role Of The Nigerian Institutional Environment On Foreign Direct Investment Inflows, Theresa Onaji-Benson Jun 2016

The Role Of The Nigerian Institutional Environment On Foreign Direct Investment Inflows, Theresa Onaji-Benson

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Literature on the determinants of foreign direct investment has focused on the influence of macroeconomic conditions and market size, with research on the role of institutions on foreign direct investment especially in developing economies remaining inconclusive This paper seeks to study the Nigerian institutional environment how its positions may affect the inflows of foreign direct investment activity. The study employs the use of time series regression analysis of data sourced from the World Bank governance indicators and the Heritage Foundation index and finds that some institutional factors positively influence the level of foreign direct investment inflows.

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External Management Reserve: Overview And Performance Of Major Asset Classes For The Period 2000-2016, Mujtaba Muhammad Farouk, Abdurrahman Abdullahi Mar 2016

External Management Reserve: Overview And Performance Of Major Asset Classes For The Period 2000-2016, Mujtaba Muhammad Farouk, Abdurrahman Abdullahi

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This paper discusses in detail, various asset classes available to both active and passive reserves managers and analyse the performance of the asset classes held mostly by central banks. Following an introduction, the paper is structured as follows: Section two reviewed literature on reserves management, including motives and what guides the decisions of the investment committee in determining asset classes. Section three analysed the various asset classes that reserves managers invest in, while section four evaluates the major central banks' asset classes' performance over the lost fifteen years covering the period before and after the 2008 global financial crisis. Section …

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Is The Discovery Of Oil A Curse Or A Blessing To Nigeria?, Ahmed S. Saidu, Saidu B. Aliyu, Umar A. Zubair Mar 2016

Is The Discovery Of Oil A Curse Or A Blessing To Nigeria?, Ahmed S. Saidu, Saidu B. Aliyu, Umar A. Zubair

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The discovery of oil in commercial quantity in Oloibiri in Niger Delta in 1955 opened a new chapter in the economic landscape of Nigeria. Before the discovery of oil resources, agriculture was the main source of government revenue. Over the years however, revenue from oil export become the backbone of the economy. The annual budget, which defines economic direction the country charts, is solely based on crude oil revenue. This situation can be likened to one putting his eggs in one basket. And it is exactly this situation that has become the major source of agitation by oil producing areas …

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The Impact Of Relationship Marketing (Rm) On Relationship Quality (Rq): Empirical Evidence From Commercial Bank Customers In Nigeria., Sunny E. Ekakitie Mar 2016

The Impact Of Relationship Marketing (Rm) On Relationship Quality (Rq): Empirical Evidence From Commercial Bank Customers In Nigeria., Sunny E. Ekakitie

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The study set out to determine the impact of Relationship Marketing (RM) on relationship quality (RQ), with respect to the services Nigerian banks deliver to their clients. Three hypotheses were formulated to drive the study. Survey research design was adopted using a 48-item Likert style questionnaire to capture the opinions of valued clients. The study covered the six geo-political zones in Nigeria with 4 states drawn randomly from each zone. Extensive literature on RM and RQ were reviewed. Models/theories were lucidly discussed with the study evolving the quality/customer satisfaction model which is a modification of Zineldin's (2006) technical and functional …

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Treasury Single Account System And Economic Juche: The Nigerian Experience., Kingsley Imandojemu Mar 2016

Treasury Single Account System And Economic Juche: The Nigerian Experience., Kingsley Imandojemu

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This paper critically examines the nexus between the full implementation of the Treasury Single Account System (TSA) and Economic emancipation in Nigeria. Using data sourced from the Central Bank of Nigeria Statistical Bulletin, the study employed the use of explorative analysis. Findings emanating from the research indicate that the full implementation of TSA is capable of rejuvenating the drive for economic emancipation in Nigeria. Therefore, this paper has recommended policy reforms to serve as an operational framework for the full implementation of TSA, being one of the pre-conditions of optimal resource utilization and economic autarky.

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Financial Soundness Indicators: The Case Of Nigeria, Baba N. Yaaba, Idris Adamu Dec 2015

Financial Soundness Indicators: The Case Of Nigeria, Baba N. Yaaba, Idris Adamu

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This paper adopted the concept as designed by the Fund to examine the soundness of the Nigeria Banking Sector from 3007Q1 to 20014Q4. From the result of the financial Soundness Indicators (FSIs) complied for Nigeria, it is obvious that the indicators can serve as reliable and consistent tools, capable of detecting vulnerabilities in the system. The study, therefore, recommends that adequate attention be paid to the indicators by the Central Bank. The Bank is urged to strive to gain full understanding of the concept as well as design additional framework for using the indicators so as to enable her take …

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Mortgage Refinancing In Nigeria: Prospects And Challenges, Kama Ukpai, Phebian N. Bewaji, Adigun Mustapha, Olufemi Adetunji Edun, Olubukola Adegbe, Josiah Dassah Dec 2015

Mortgage Refinancing In Nigeria: Prospects And Challenges, Kama Ukpai, Phebian N. Bewaji, Adigun Mustapha, Olufemi Adetunji Edun, Olubukola Adegbe, Josiah Dassah

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The paper examines the mortgage (re)finance market in Nigeria with a view to identifying its prospects and challenges. The method adopted included a review of jurisdictional experiences on mortgage refinance and thereafter draw on some lessons of experience as the Nigeria case is considered as a country in transition. Further discussions centered on the challenges of financialization of mortgages, mortgage affordability, low awareness of mortgage refinancing, macroprudential risks and moral hazard that confronts mortgage refinance in the country. The paper, further, provides considerations with regard to value-reorientation, institutional, regulatory and legal infrastructures as prerequisites for successful mortgage refinance system.

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Inclusive Growth And Poverty Reduction In Nigeria, Uche M. Ozughalu, Fidelis O. Ogwumike Dec 2015

Inclusive Growth And Poverty Reduction In Nigeria, Uche M. Ozughalu, Fidelis O. Ogwumike

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This study shows that Nigeria has not experienced inclusive growth over the years, using relevant national and global data. The country has experienced pervasive poverty, high rate of unemployment and high level of income/wealth inequality despite impressive economic growth rates over the years. The study also highlights the major factors that could be responsible for the non-inclusive growth in Nigeria; these factors include poor performance of the manufacturing sector, weak knowledge base, poor human capacity development and low level of global competitiveness. The study uses tabular presentations and verbal constructs in its analysis. The government and policy makers in Nigeria …

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Nigeria's Monetary Survey: 2001-2014, Phebian N. Bewaji, Chioma P. Nwosu Dec 2015

Nigeria's Monetary Survey: 2001-2014, Phebian N. Bewaji, Chioma P. Nwosu

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The paper showed that Nigeria's monetary survey is a useful tool in the analysis of monetary development and its linkages with key sectors of the economy. It conveys a useful insight on the evolution of the payment system and money holding behavior. Findings indicated that Nigeria's broad money aggregate was largely determined by external factor, pre-2007 global financial crisis, while domestic factors had significant implications for monetary management post-2007.

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Shadow Banking Services And Its Implications For The Nigerian Economy, Jibrin Yakubu, Joseph Achua Dec 2015

Shadow Banking Services And Its Implications For The Nigerian Economy, Jibrin Yakubu, Joseph Achua

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This paper reviews some conceptual and theoretical issues as well as considers the implications of shadow banking services in the Nigerian economy. lt defines shadow 3banking services as 'a system of credit intermediation that involves entities and activities outside Central Bank of Nigeria's regulatory capture'. The paper noted that Nigeria is yet to make significant policy impact on shadow banking in spite of its inherent systemic risk and regulatory arbitrage concerns on the economy. ln addition, there is neither data collection nor information management frameworks to measure its size, performance and impact on the economy. The paper therefore, recommends the …

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Implication Of Closure Of Rdas And Wdas Segment Of The Foreign Exchange Market In Nigeria, Akin Dawodu Sep 2015

Implication Of Closure Of Rdas And Wdas Segment Of The Foreign Exchange Market In Nigeria, Akin Dawodu

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The Nigeria foreign exchange market has transitioned a great deal since the country gain independence. Nigeria had a pegged exchange control until the introduction of the structural adjustment program (SAP) in 1986. which brought about dual exchange rate system, the first and second tier foreign exchange market that later metamorphosed into the Foreign Exchange Market (FEM). Hence there continue to be policy reversals as a result of the volatility in the exchange rate.

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The Role Of The Media In Communicating Developments In Foreign Exchange Management In Nigeria, Stanley Egbochukwu Sep 2015

The Role Of The Media In Communicating Developments In Foreign Exchange Management In Nigeria, Stanley Egbochukwu

Bullion

The branch of journalism that tracks, record, analyses and interprets the economic changes that took place in a society is Financial Journalism. it is said to be a subject of unprecedented circumstance because financial and business stories nowadays move at a digital driven speed. the interpretation and presentation of the up to day activities in the financial world comes with high level of research and cooperate understanding. the Nigeria economy is heavily dependent on import and this records can be presented to the public through the media.

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Crude Oil Price Volatility: Implications For External Reserves And Exchange Rate Management In Nigeria, Moses K. Tule Sep 2015

Crude Oil Price Volatility: Implications For External Reserves And Exchange Rate Management In Nigeria, Moses K. Tule

Bullion

Following recent development in the world oil market, emphasis will be placed on the falling crude oil price which has far reaching implications for economic management in Nigeria. Nigeria depends heavily on crude oil for its revenue and exchange earning, hence the degree of rise or fall in oil price over a period poses concern for the government of the country.

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The Impact Of External Reserves' Position On Capital Flows: The Nigerian Experience, Lamido A. Yuguda Sep 2015

The Impact Of External Reserves' Position On Capital Flows: The Nigerian Experience, Lamido A. Yuguda

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A number of factors will determine whether capital will flow in and out of an Economy. The monetary Authority in every country have the sole right to maintain and manage the external reserves hereby maintaining confidence in the country monetary and exchange rate polices, provide confidence to international community on the country' ability to meet its external obligations and provide liquidity to government to meet its external obligations; and maintain foreign exchange liquidity. The main objectives of this paper is to access the impact of external reserves position in attracting capital flows.

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Exchange Rate Management: Evolution Of The Nigerian Foreign Exchange Market, Bismark J. Rewane Sep 2015

Exchange Rate Management: Evolution Of The Nigerian Foreign Exchange Market, Bismark J. Rewane

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To grasp the challenges facing the naira, an understanding of the framework of the exchange rate system is imperative. This article highlights key developments and presents an analysis of the current issues facing the Nigerian currency.

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Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere Sep 2015

Financial Inclusion And Growth Of The Banking System In Nigeria, Hogan E. Bassey, Fagge A. Inuwa, Ukeje H. Nkechinyere

Bullion

Financial inclusion suggests an innovative concept which helps to achieve sustainable development, by making available financial services to the unbanked and underbanked with the help of financial institutions. The concept of financial inclusion gained popularity from year 2000. Thus, it is a great weapon to overcomes financial backwardness. This paper attempts to assess the current status of financial inclusion by examining recent policies and developments toward achieving financial inclusion in Nigeria. Specifically, the framework aimed at enhancing financial inclusion in Nigeria while also supporting the growth and stability of the financial sector, including policies around microfinance, mobile payment, KYC, electronic …

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Macroeconomic Trillema And Monetary Policy In Nigeria, Moses K. Tule Dec 2014

Macroeconomic Trillema And Monetary Policy In Nigeria, Moses K. Tule

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The paper explores how the macroeconomic trilemma influences monetary Policy choices and action in practical terms. Section 1 is the introduction, section 2 examines in greater details key conceptual issues. After it a review of the historical epochs of the trilemma, followed by contemporary country experiences in managing the trilemma. Section five examines the challenges of the trilemma in Nigeria while the last section concludes the paper.

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Financial System Stability And The Payment System., Olubukola Akinniyi Akinwunmi Dec 2014

Financial System Stability And The Payment System., Olubukola Akinniyi Akinwunmi

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This article reviews the relationship between payments system and financial stability. lt explores the risks within the payments system and how they impact on financial system stability. Emerging issues in the payments system were highlighted and implications for the financial system stability were examined. The article also proposes sets of payments system indicators that may be adopted within the financial system stability analysis and policy making.

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Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba Dec 2014

Rethinking Sovereign Wealth Fund In A Global Perspective - Lessons For Nigeria, Muhammad A. Abba

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The study explores the the global rise in the operation of sovereign wealth funds in a number of commodity and non commodity exporting counties has been of tremendous magnitude. The fact that, most, if not all the oil exporting countries of the world today have SWF clearly confirms the many benefits of having a sovereign wealth fund. Section two of the paper provides a brief review of literature. Section three discusses the rationale for SWFs with some stylized facts. The impact of SWFs on the economy is discussed in section four, section five discusses the significance of SWFs while, an …

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Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili Dec 2014

Basic And Computation Of Rebased Gross Domestic Product (Gdp) Nigeria's Experience, Emeka Godwin Ofili

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The paper looks at the basic concepts in GDP compilation and the computational processes for the rebased GDP. The paper is structured into four sections. The first section deals with the introduction while section two explains some basic concepts and mathematics for GDP compilation. Section three takes a look at the GDP Rebasing while section four deals with the Recent Development from the rebasing exercise.

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Gross Domestic Product (Gdp) Rebasing And The Impact On Nigeria's Investment Environment, Bismark J. Rewane Dec 2014

Gross Domestic Product (Gdp) Rebasing And The Impact On Nigeria's Investment Environment, Bismark J. Rewane

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The paper looks at the impact of the rebasing on an important economic variable - investment. This is because investment is necessary for capital accumulation and economic growth. Specifically, this study examines the impact of GDP rebasing on Nigeria's investment environment. ln addition to this introduction section, section 2 considers GDP rebasing and the Nigerian case, section 3 is on the Nigerian Financial System Strategy (FSS) 2020, section 4 is on investment types, drivers and the Nigerian environment, section 5 offers some lessons for Nigeria and section 6 is the summary and conclusion.

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Gdp Rebasing And Implications For Fss 2020., Oluwatoyin Jokosenumi Dec 2014

Gdp Rebasing And Implications For Fss 2020., Oluwatoyin Jokosenumi

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A resilient economy founded upon a reliable financial system, is attainable upon the creation and management of a sound and progressive economic statistics and indicators such as the Gross Domestic Products (GDP) and other scholars’ parameters. This paper examines the GDP rebasing and its impact on Nigeria’s investment. The paper explains the concept of GDP; the need to maintain a strategic GDP; how it is computed and / or rebased. This is then followed by examining its implications, on all economic programs.

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A Study Of Technical Efficiency Of Deposit Money Banks In Nigeria (2007 - 2012), Auwalu I. Fagge Dec 2014

A Study Of Technical Efficiency Of Deposit Money Banks In Nigeria (2007 - 2012), Auwalu I. Fagge

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This paper examines the technical efficiency of deposit money banks (DMBS') in Nigeria. Measures of technical efficiency are derived in the Nigerian deposit money banks (DMBS') by implementing non-parametric, data envelopment analysis technique on a cross section of 24 banks taken from 2007 to 2013. The efficiency concepts, measurement and methodology were discussed. The existence of technical efficiency is established. The result suggests that the sources of overall technical inefficiency, the observed issues are due to poor input utilization (managerial inefficiency) and failure to operate almost productive scale size. Therefore, in this research the paper suggests or considers some important …

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Sovereign And Quasi-Sovereign Insolvency: Features And Resolution Options, Phebian N. Bewaji Mar 2014

Sovereign And Quasi-Sovereign Insolvency: Features And Resolution Options, Phebian N. Bewaji

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Governments like businesses, are sometimes faced with financial constraints, which impede it to carry out its functions. Thus, states, like households and firms, sometimes need to borrow to finance its activities. Unlike government revenue, expenditures are counter-cyclical and debts incurred have to be repaid at some future date, based on a repayment schedule and pre-determined terms. ln the event of a debt crisis, default or liquidity situation, unlike households and companies, the effects are more pronounced for sovereign states mainly for two reasons. This paper examines the events that trigger sovereign insolvency and likely measures of resolutions. lt acknowledges the …

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Tax Harmonization In The West African Monetary Zone: Issues And Challenges, Emmanuel Ating Onwioduokit Mar 2014

Tax Harmonization In The West African Monetary Zone: Issues And Challenges, Emmanuel Ating Onwioduokit

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This paper explored the theoretical underpinnings for tax harmonization in a monetary union and critically perused the existing tax system in the WAMZ countries and found considerable differences in the applicable tax rates across the countries in the zone. This paper found that tax and proposes that tax harmonization should be the goal for all aspects of member states' tax system and concluded that a high degree harmonization is necessary in the indirect taxes; as such taxes may create an immediate obstacle to the free movement of goods and the free supply of services within the internal market.

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Bridging The Housing Deficit Gap In Nigeria Through The Mortgage Refinancing Scheme., Bandele A. G. Amoo, Nkereuwen I. Akpan, B. Hamma Mar 2014

Bridging The Housing Deficit Gap In Nigeria Through The Mortgage Refinancing Scheme., Bandele A. G. Amoo, Nkereuwen I. Akpan, B. Hamma

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The objective of this paper is to assess the efficacy of housing mortgages and the current mortgage refinancing company at addressing the housing deficit in Nigeria. This paper would be structured ' thus: section I is the introduction, while section 2 looks of housing provision and policy in Nigeria. Existing housing finance options in Nigeria are discussed in section 3 and the need for mortgage refinancing in Nigeria in section 4. Challenges of mortgage refinancing in Nigeria are examined in section 5, while the conclusion and recommendations are presented in section 6.

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Cost Reduction Strategies & Corporate Governance: The Need For A Paradigm Shift In Public Sector Financial Management In Nigeria, Sunny Ekakitie-Emonena Mar 2014

Cost Reduction Strategies & Corporate Governance: The Need For A Paradigm Shift In Public Sector Financial Management In Nigeria, Sunny Ekakitie-Emonena

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This study is on exposition of the imperatives of cost reduction strategies and corporate governance practices as it relates to financial malfeasance. The mechanics for a paradigm shift discussed include: cost reduction techniques, adoption of cost efficiency techniques and maintenance and reportage of accurate financial records, etc.; along with adoption of sound corporate governance policies of accountability, adherence to regulatory framework, and respect for stakeholders' interest. The study concludes by suggesting further initiatives to 'clean-up and reposition' the sector for growth & economic development. These include: effective justice system, stepping up the policy of cashless economy, entrenching protection programs for …

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External Reserves Management And Utilization: Nigeria Experience, Emelogu C. Obioma, Abdurrahman Abdullahi Jun 2013

External Reserves Management And Utilization: Nigeria Experience, Emelogu C. Obioma, Abdurrahman Abdullahi

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The objective of this paper is to appraise developments in external reserves management and utilization in Nigeria, with o view to identifying major challenges and proffering solutions. The paper is divided into six sections. Following this introductory section, section two reviews some of the major conceptual and analytical issues on external reserves management and utilization, while section three discusses Nigeria's external reserves management process. Section four appraises developments in external reserves management and utilization, as well as examines the impact of external reserves on the four sectors of Nigerian economy. Section five highlights major challenges in external reserves management and …

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