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Full-Text Articles in Economics

Foreign Private Investment In Nigeria In 1984, Central Bank Of Nigeria Cbn Sep 1986

Foreign Private Investment In Nigeria In 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report presents the results of the Central Bank of Nigeria's annual survey of Foreign Private Investment in the country in 1984. The survey was conducted through questionnaires sent to companies I whose capital structure was wholly foreign 2 or joint Nigeria/Foreign. The report is presented under the following subheadings: flow of foreign private capital, components of net capital flow, cumulative and net investments by country/region of origin and economic sectors, cumulative/net short and long term investment, cumulative and net investment in the manufacturing and processing sector by type of industry, stock of fixed asset at cost and at book …

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Developments In Nigeria's External Sector During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In Nigeria's External Sector During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Nigeria's external transactions during the third quarter of 1986 resulted in a net inflow of N466.9 million in contrast with the net outflows of N25 million at the end of the preceding quarter and N247.1 million during the third quarter of 1985 (See Table 1). The apparent tum-around, did not, however, reflect any real improvement in the country's tight foreign exchange situation. In fact, outstanding arrears on current transactions at the end of the quarter showed an increase over the level at the end of the second quarter. The net inflow figure therefore was largely the result of administrative measures …

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Developments In The Financial System During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In The Financial System During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

The narrow measure of money stock, (Ml), declined during the third quarter due, on the one hand, to increases in quasi money and 'other' assets of the banking system and on the other, partially offsetting increases in foreign assets and in credit to the domestic economy. The broader measure, (M2), maintained an upward trend. The money and capital market both recorded moderate increases in the level activities during the quarter.

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Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Harvesting of grains and tubers was the dominant activity in the agricultural sector in most parts of the country during the third quarter of 1986. In spite of the lower-than-average amounts of rainfall recorded during the first half of the year, a bumper harvest of maize, rice, yams and cassava was reported

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Report On Retail Price Indices Of Selected Consumer Items In The Lagos Area - Second Quarter, 1986, Central Bank Of Nigeria Cbn Jun 1986

Report On Retail Price Indices Of Selected Consumer Items In The Lagos Area - Second Quarter, 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report highlights the results obtained from the bi-monthly survey of selected consumer items, carried out in the Lagos area during the second quarter of 1986. Accordingly, Section 1 discusses the retail price indices of the selected -commodities, while Section II focusses on inter-market price variations. Section III summarises the report and suggests some measures to check excessive high prices.

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Developments In Nigeria's External Sector During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn Jun 1986

Developments In Nigeria's External Sector During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Developments in Nigeria's external sector during the second quarter of 1986 continued to be a cause of concern. The foreign exchange position worsened compared with the preceding quarter's as the price of crude petroleum - Nigeria's major foreign exchange earner - fell farther in the world oil market. Faced with dwindling foreign exchange resources and increasing inability to meet current commitments, a formal approach was made to Nigeria's external creditors late in March to reschedule part of the long and medium term debt falling due for payment. Although no agreement was reached, the commercial banks grouped under the London Club …

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Developments In The World Commodity Markets During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn Jun 1986

Developments In The World Commodity Markets During The Second Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

All the items, except rubber and ginger, recorded price declines ranging from 0.6 per cent for coffee to 34.1 per cent for palm kernel. The prices of rubber and ginger increased by 4.3 and I. 7 per cent, respectively. The major factor responsible for the deterioration was the effect of failure to reach positive agreement on most of the international commodity organisations, particularly in respect of cocoa. Other factors which helped to depress the market included the sharp decline in oil prices which reduced the purchasing power of affected countries, appreciable gains by the pound sterling over the US dollar …

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Lessons From Nigeria's Recent Monetary And Fiscal Policy Experience, G. O. Okah Jun 1986

Lessons From Nigeria's Recent Monetary And Fiscal Policy Experience, G. O. Okah

Economic and Financial Review

The paper examined, together, the impact of monetary and fiscal policy measures with a view to judging the actual results against the stated policy objectives. The purpose of such exercise would be to provide some basis for drawing useful lessons which will serve as a guide for future design of macro-economic management and control strategies that are more relevant to the Nigerian economic environment. To do this, one needs some form of discussion framework as is done in Part I of this paper. In Part II recent policy objectives and the measures taken to pursue those objectives are summarised. An …

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An Appraisal Of Public Sector Financing Of Agricultural Development In Africa With Particular Reference To Nigeria, J. O. Osakwe, M. O. Ojo Jun 1986

An Appraisal Of Public Sector Financing Of Agricultural Development In Africa With Particular Reference To Nigeria, J. O. Osakwe, M. O. Ojo

Economic and Financial Review

The paper discusses, largely using Nigeria as a case study, three sets of issues relating to public sector role in agricultural financing. First, it takes an overview of the agricultural situation in African countries in general and in Nigeria in particular in the last twenty years and suggests the critical factors that should guide government activities for agricultural financing in the light of the general structure of agricultural production. Second, it identifies the types and magnitudes of government assistance in agricultural financing in Nigeria and finally it discusses some of the main problems surrounding the efforts of the government in …

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Problems Of Measuring Unemployment In Nigeria, H. A. Ajani, H. N. Okonta Jun 1986

Problems Of Measuring Unemployment In Nigeria, H. A. Ajani, H. N. Okonta

Economic and Financial Review

Much as unemployment is dreaded in all market economies, the problems associated with its measurement in Nigeria are sometimes not addressed, if ever appreciated. To facilitate international comparison, uniform measurement methods have considerably narrowed down the difference in the concept of unemployment. Nevertheless, unemployment index seems to disguise the extent of the problem in Nigeria. Unless the desire to work for a wage is explicitly expressed, it is difficult to identify the unemployed. In other words, if the job-seeker is regarded as someone actively seeking wage employment, the concept of unemployment becomes less relevant in the context of a developing …

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Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi Jun 1986

Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi

Economic and Financial Review

This paper discusses the dynamics of the unemployment problem within the development perspective of a post-independent Nigeria. It is argued that while successive governments seemed to have recognised the problem, the solutions so far adopted have resulted in mere palliatives. Several factors accounting for unemployment have included: colonialism and the white-collar job syndrome, choice of technique in industries, structure of economic organisation, migration patterns, urbanisation, population growth, educational structure, and business cycles. Of the possible consequences of unemployment, the study highlights those having social, health, political and economic dimensions such as stress, suicide, parasuicide, armed robbery, coup d'etats, inflation, etc. …

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The Impact Of River Basin Development Authorities On Nigerian Agriculture: A Case Study Of Niger River Basin Development Authority, E. D. Balogun, E. U. Ukeje Jun 1986

The Impact Of River Basin Development Authorities On Nigerian Agriculture: A Case Study Of Niger River Basin Development Authority, E. D. Balogun, E. U. Ukeje

Economic and Financial Review

The paper traced the history of water resource development in Nigeria, and assessed the impact of the Niger River Basin Development Authority (NRBDA) on crop production in the region. The analysis of available data showed that although the NRBDA's activities resulted in improvements in crop yields, and farm incomes of beneficiaries, the impact on regional output and area cultivated was marginal since it accrued to only very few farmers. Moreover, the cost of generating such increments was outrageously high when compared to the incremental costs incurred by alternative development institutions in respect of similar activities. The NRBDA was not without …

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Activities Of Insurance Companies In Nigeria: 1983 - 1984, Central Bank Of Nigeria Cbn Jun 1986

Activities Of Insurance Companies In Nigeria: 1983 - 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

This report contains an analysis of data extracted from the returns lodged with the Federal Ministry of Finance by insurance companies operating in Nigeria during 1983-1984. In 1983 and 1984 about 92.9 and 98.9 per cent of the existing companies had filed their returns at the time the survey was conducted. Estimates were made for non-response in order to provide a basis for consolidating for the entire insurance industry. The report is divided into five parts: namely, the structure and performance of the insurance industry, life insurance business, non-life insurance business, assets and investment pattern of insurance companies; summary and …

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An Econometric Analysis Of The Determinants Of Investments By Insurance Companies In Nigeria, S. E. Omoruyi Dec 1984

An Econometric Analysis Of The Determinants Of Investments By Insurance Companies In Nigeria, S. E. Omoruyi

Economic and Financial Review

The paper is divided into two parts. Part I discusses the concept of financial intermediation. Part II outlines the model of determinants of investments by the insurance industry and summarises the main findings and policy recommendations of the study.

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Developments In The Banking Sector During The Fourth Quarter Of 1984, Central Bank Of Nigeria Cbn Dec 1984

Developments In The Banking Sector During The Fourth Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

The upward movement in the level of money supply narrowly defined (Ml) which occurred in third quarter of 1984 continued in the fourth. At the end of December, MI stood at NI 2,204.1 million, increasing by N664.0 million or 5.8 per cent over the level at the end of the preceding quarter. During the corresponding period of last year, MI increased by N256.S million or 2.3 per cent to stand at NI 1,282.4 million. On a monthly average basis, Ml was NI 1,652.9 million during the review quarter compared with an average of NI 0,9 I 6. 7 million recorded …

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Statistical Section (June 1984), Central Bank Of Nigeria Cbn Jun 1984

Statistical Section (June 1984), Central Bank Of Nigeria Cbn

Economic and Financial Review

Statistical tables on central banking, commercial banking, merchant banking, international liquidity, international trade, the flow of funds, money supply, national savings, production, consumer prices, public debt and public finance.

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Electricity Consumption In Nigeria: An Econometric Analysis, Sam Chuka Ljeh Jun 1984

Electricity Consumption In Nigeria: An Econometric Analysis, Sam Chuka Ljeh

Economic and Financial Review

The purpose of this study is to identify the variables that influence electricity consumption, specify the correct relationships between these variables and electricity consumption and provide statistical evidence of these relationships in Nigeria.

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Developments In The Financial Sector During The Fourth Quarter Of 1983, Central Bank Of Nigeria Cbn Dec 1983

Developments In The Financial Sector During The Fourth Quarter Of 1983, Central Bank Of Nigeria Cbn

Economic and Financial Review

Money supply, narrowly defined , Ml, attained a seasonal peak of N 11,282.4 million at the end of the fourth quarter of 1983, thus showing an increase of N256.5 million or 2.3 per cent over the level in the preceding quarter, compared with the increase of N950. l million or 10.4 per cent in the corresponding period of 1982. Over the level a year earlier, the rise in this aggregate was Nl ,233.9 million or 12.3 per cent.

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Developments In World Commodity Markets During The Fourth Quarter Of 1983, Central Bank Of Nigeria Cbn Dec 1983

Developments In World Commodity Markets During The Fourth Quarter Of 1983, Central Bank Of Nigeria Cbn

Economic and Financial Review

The International Commodity Markets weakened slightly during the fourth quarter of 1983, compared with the preceding quarter. The major fa ctors which influenced developments in the markets during the period included the reaction of specul ators to movements in the sterling exchange rate as well as forecasts of the state of supply of most of the commodities.

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Comparative Analysis Of Commercial Banking Activities In The 19 States Of The Nigerian Federation 1977-1980, N. E. Ogbe Dec 1983

Comparative Analysis Of Commercial Banking Activities In The 19 States Of The Nigerian Federation 1977-1980, N. E. Ogbe

Economic and Financial Review

The paper is divided into three parts. Part I examines the inter-state distribution of bank facilities - branches, credit and deposits; analysis of intra-state sectoral credit distribution and loan maturity are discussed in part 2; while part 3 is the conclusion.

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The Relevance Of Exchange Control In Nigeria's Balance Of Payments Adjustment Process, O. K. Anifowose Sep 1983

The Relevance Of Exchange Control In Nigeria's Balance Of Payments Adjustment Process, O. K. Anifowose

Economic and Financial Review

The objective of this paper is to evaluate the usefulness of exchange control in correcting Nigeria's Balance of Payments deficits during the period 1967-1981. The paper consists of four parts. In part one, a general review of the legal framework and exchange control practices in the period is undertaken. Part two offers an appraisal of exchange control as a policy for balance of payments adjustment in Nigeria. In part three exchange control is compared with other balance of payments policies to determine whether or not the country can dispense with the control regulations . The summary and main conclusions of …

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A Preliminary Assessment Of The Agricultural Credit Guarantee Scheme In Nigeria, M. O. Ojo, O. O. Akanji Sep 1983

A Preliminary Assessment Of The Agricultural Credit Guarantee Scheme In Nigeria, M. O. Ojo, O. O. Akanji

Economic and Financial Review

The basic objective of this paper was to review the main achievements of the ACGS and analyze the major constraints on its operations during the first five years of its implementation. The paper is organised into four sections. A summary of the objectives of the ACGS is presented in Section l while in Section 11, an analysis of its main achievements between 1978 and 1982 is undertaken. Section III contains a discussion of some of the major constraints on the operations of the Scheme while Section IV concludes the paper.

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Foreign Private Investment In Nigeria 1979-1981, Central Bank Of Nigeria Cbn Sep 1983

Foreign Private Investment In Nigeria 1979-1981, Central Bank Of Nigeria Cbn

Economic and Financial Review

This paper has analysed the results of the survey o f foreign private investment in Nigeria for the period 1979 to 1981. The results show that net inflow o f foreign private investment into Nigeria fell by 12.6 per cent from N331.8 million in 1978 to N289.9 million in 1979. but rose by 61.1 per cent to N467.0 million in 1980 and fell again by 70. 5 per cent to N137.8 million in 1981. The sharp fall in net inflow of foreign private investment in 1981 was due to an outflow of N447. I million in 1981 as against outflows …

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Statistical Tables, Central Bank Of Nigeria Cbn Jun 1983

Statistical Tables, Central Bank Of Nigeria Cbn

Economic and Financial Review

The statistical tables comprise the following data: Central Bank of Nigeria statement of assets and liabilities; Central Bank monthly rediscounts (gross); Commercial Banks' statement of assets and liabilities; Analysis of Commercial Banks' loans and advances; Commercial banking: selected predominant interest rates; Ratio of loans and advances to deposits; Net external assets of Commercial Banks; Liquidity ratios of Commercial and Merchant Banks; International reserves and related foreign accounts; Nigeria's balance of payments; Value of major imports and exports; and Nigerian Stock Exchange (NSE) transactions.

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Monetary Development During The First Quarter Of 1983, Central Bank Of Nigeria Cbn Mar 1983

Monetary Development During The First Quarter Of 1983, Central Bank Of Nigeria Cbn

Economic and Financial Review

The main factors responsible for the decline in money supply in the first quarter of 1983 were the decline of Nl,799.0 million or 29.6 per cent in other assets (net) of the banking system ( or an equivalent increase in their other liabilities), a fall of N212.8 million or 19.9 per cent in net foreign assets and an increase of N97 .0 million or 1.4 per cent in quasi-money. The contractionary impacts of these three factors more than offset the expansionary effects of an increase ofNl,391.0 million or 6.3 per cent in bank credit to the economy.

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Recent Developments In Nigeria's Oil Industry And Their Implications For Government Finance, Petroleum Studies Office Research Department Mar 1983

Recent Developments In Nigeria's Oil Industry And Their Implications For Government Finance, Petroleum Studies Office Research Department

Economic and Financial Review

This brief review has focused on the movements of oil prices, production and exports in the 1979-82 period, highlighting the implications of such movements for Federal Government revenue and expenditure.

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Review Of Nigeria's Balance Of Payments: Development During The First Half Of 1982, Central Bank Of Nigeria Cbn Jun 1982

Review Of Nigeria's Balance Of Payments: Development During The First Half Of 1982, Central Bank Of Nigeria Cbn

Economic and Financial Review

Estimates for the first half of 1982, showed that Nigeria's balance of payments resulted in a deficit ofNl,583.4 million as against a revised surplus of N 53.1 million for the same period of 1981. But compared to the deficit of N3,020.1 million for the second half of 1981, the balance of payments situation, represents an improvement.

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Nigeria And Opec: To Be Or Not To Be?, G. O. Nwankwo Jun 1982

Nigeria And Opec: To Be Or Not To Be?, G. O. Nwankwo

Economic and Financial Review

According to the Economist, 'Oil multiplied Nigeria's exports by a factor of 10 in the 1970s, and its imports by a factor of 11. This fuelled Nigeria's honourable ambitions to emerge as the greatest power in Africa. The country's rulers are bitterly disappointed by the way the oil glut has partially devalued this great natural resource. So are some exporters to it. '1 In the wake of this unhappy state of affairs, Nigeria has taken steps to redress the situation. Some people, however, argue that the most effective action Nigeria should take is to lower the price of her oil …

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Oil In The Political Economy Of Nigeria, E. I. K. Sule Jun 1982

Oil In The Political Economy Of Nigeria, E. I. K. Sule

Economic and Financial Review

The oil industry is perhaps one of the most important and largest industries in the world. Through its wide areas of operation, nature of product demand and international network of operating companies, the industry affects every country in today's civilised world. As a result, a day hardly passes without oil being in the news. The industry has bestowed great financial power on oil producers some of which belong to the third world.

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Policies And Strategies Towards Foreign Investment In Nigeria, C. E. Enuenwosu, C. E. Nemedia Jun 1980

Policies And Strategies Towards Foreign Investment In Nigeria, C. E. Enuenwosu, C. E. Nemedia

Economic and Financial Review

A review and appraisal of foreign investment policies and strategies in Nigeria is undertaken in three sections. Section one presents the historical evolution of the policies under three different types of political administration, namely, the colonial era, the civilian administration of the first republic ( 1960-1965). and the military regime which held the reigns of political power for thirteen years (1966-1979). Section two analyses data on private foreign investment in Nigeria. The third section rounds up the discussions with an appraisal of the existing approaches and the concluding observations.

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