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Articles 1 - 30 of 34
Full-Text Articles in Public Economics
Insurgency, Political Risk, And Foreign Direct Investment Inflows In Nigeria: A Sectorial Analysis, Danjuma Iyaji
Insurgency, Political Risk, And Foreign Direct Investment Inflows In Nigeria: A Sectorial Analysis, Danjuma Iyaji
CBN Journal of Applied Statistics (JAS)
This study examines, among others, the effect of terrorism, political violence, corruption, and religious tension on FDI inflows to the banking, construction, manufacturing, oil and gas, and telecommunication sectors in Nigeria. Thus, empirical models were estimated using the fully modified ordinary least squares (FMOLS) technique. The study spans from 2008Q1 to 2017Q4. Findings show that terrorism adversely affects FDI inflow to telecommunication sector, while corruption positively impacts on the oil and gas sector. Thus, this study among other things, recommends the intensification of effort in the war against terrorism and strengthening of relevant anti-graft agencies to adequately fight corruption in …
Relationship Between Real Exchange Rate And Consumption In Nigeria: A Nonlinear Approach, Babangida Jamilu S., Sanusi Aliyu R., Yusuf Isah M.
Relationship Between Real Exchange Rate And Consumption In Nigeria: A Nonlinear Approach, Babangida Jamilu S., Sanusi Aliyu R., Yusuf Isah M.
CBN Journal of Applied Statistics (JAS)
This study analyses the relationship between real exchange rate and domestic consumption in Nigeria using the Smooth Transition Autoregressive (STAR) model from 1981Q1 to 2019Q4. Findings show that domestic consumption determines the regime shift in real exchange rate, suggesting a nonlinear linkage with clearly distinct regimes. The lagged exchange rate is shown to have a significant linear effect on the current exchange rate. On the other hand, current foreign consumption is positive but has no significant impact on the exchange rate in the linear part of the model. In the nonlinear part of the model, evidence of a significant negative …
Are Nigerian Banks Vulnerable To Oil Price Shocks? A Stress Test Approach, A. T. Odu, A. R Sanusi
Are Nigerian Banks Vulnerable To Oil Price Shocks? A Stress Test Approach, A. T. Odu, A. R Sanusi
Economic and Financial Review
This study empirically examines the vulnerability of the Nigerian banking industry to extreme, but plausible, adverse oil price shocks. A structural vector autoregressive (SVAR-X) is adopted to achieve this objective. The study period covers 2007Q1 – 2020Q4. The simulations assess the asset quality performance of DMBs, using the NPLs, under three scenarios (baseline, adverse and severely adverse). The findings suggest that the entire banking industry, as well as individual DMBs, are vulnerable to adverse oil price shocks. Accordingly, the study recommends, strict compliance with the single obligor limit, by commercial banks, to mitigate adverse effects of volatilities in crude oil …
Impact Of Government Expenditure On Economic Growth In Nigeria, 1970-2019, Aluthge Chandana, Jibir Adamu, Abdu Musa
Impact Of Government Expenditure On Economic Growth In Nigeria, 1970-2019, Aluthge Chandana, Jibir Adamu, Abdu Musa
CBN Journal of Applied Statistics (JAS)
This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts for structural breaks in the unit root test and the co-integration analysis. The key findings of the study are that capital expenditure has positive and significant impact on economic growth both in the short run and long run while recurrent expenditure does not have significant impact on economic growth both in the short run and long run. The study …
Traffic Congestion In F.C.T: Demand And Supply Approach, Ibrahim Abdul, Salihu Habibu Mohammed Gani, Ibrahim G. Umaru
Traffic Congestion In F.C.T: Demand And Supply Approach, Ibrahim Abdul, Salihu Habibu Mohammed Gani, Ibrahim G. Umaru
Bullion
This study examined traffic congestion in Abuja metropolis, F.C.T.- Nigeria using demand and supply approach. The study adopted survey research design. Primary data was collected using questionnaires. Descriptive statistics was used to analysed the data with the aid of tables and graphs. It was discovered that as a road reaches its capacity, each additional vehicle imposes more total delay on others than they bear, resulting in excessive traffic volumes. Congestion is mainly due to the intensive use of automobiles, whose ownership has spread massively in the F.C.T. in recent decades. The study revealed that traffic congestion causes serious consequences in …
Analysis Of The Impact Of Central Bank Of Nigeria's Agricultural Intervention Funds On The Economy, E. T. Adamgbe, M. C. Belonwu, E. R. Ochu, I. I. Okafor
Analysis Of The Impact Of Central Bank Of Nigeria's Agricultural Intervention Funds On The Economy, E. T. Adamgbe, M. C. Belonwu, E. R. Ochu, I. I. Okafor
Economic and Financial Review
This paper set out to investigate the impact of Central Bank of Nigeria's interventions on the agricultural sector within an economy-wide framework of general equilibrium modelling. The paper adopted a dynamic (recursive), two-sector general equilibrium model of the Nigerian economy with some modifications on the standard model developed by the Centre for Econometric and Applied Research (CEAR) and incorporated the contributions of the CBN's agricultural based interventions as increases in the stock of agricultural capital to have a more robust size of interventions into the agricultural sector. The SAM used for the CGE model analysis was derived from the updated …
Cost Of Governance And Fiscal Deficit In Nigeria: Evidence From State Government Data, P. Ekeocha, A. Ikenna-Ononugbo
Cost Of Governance And Fiscal Deficit In Nigeria: Evidence From State Government Data, P. Ekeocha, A. Ikenna-Ononugbo
Economic and Financial Review
Fiscal deficit has remained a predominant occurrence at both the Federal and state government levels, and this has become a source of concern for economic managers. At the individual state level, a quarter of the state governments consistently ran deficit for more than six consecutive years, from the period 2007 to 2014. More importantly, the combined overall fiscal balance of the state governments has resulted frequently in deficit in the past two decades. Fiscal deficit is not bad in itself, but most of the state governments are running fiscal deficit to sustain recurrent expenses, rather than infrastructure development. Available studies …
Non-Oil Revenue Buoyancy And Elasticity: Implications For Revenue Generation In Nigeria, B. Gaiya, A. A. Ikenna-Ononugbo, K. Ajala
Non-Oil Revenue Buoyancy And Elasticity: Implications For Revenue Generation In Nigeria, B. Gaiya, A. A. Ikenna-Ononugbo, K. Ajala
Economic and Financial Review
The paper employs annual time series data on real government tax revenue components from 1981-2014 to endogenously determine the level of non-oil revenue buoyancy and elasticity and its implication for revenue generation in Nigeria. A partitioning approach to determining tax buoyancy and elasticity is employed to address these objectives. The study found that with the exception of the Company Income Tax, an inelastic tax structure exists in Nigeria for the period under review. The proxy bases had similar results in terms of their responsiveness to the tax system. There were also evidences that the discretionary measures taken during the study …
Keynote Address On Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Central Bank Of Nigeria Executive Seminar, G.I. Emefiele
Economic and Financial Review
This is a keynote address delivered by the Governor of Central Bank of Nigeria at the 2016 executive seminar with the theme "financing government programmes in economic downturn - the role of central bank of Nigeria
Special Remarks: Financing Government Programmes In Economic Downturn -The Role Of Central Bank Of Nigeria? Delivered At The 2016 Annual Executive Seminar, S.O. Alade
Economic and Financial Review
This is the special remarks delivered by the Deputy Governor (Economic Policy) during the 2016 executive seminar, "financing government programmes in economic downturn- the role of central bank of Nigeria.
Non-Oil Exports, Economic Growth And Macroeconomic Stability, T.A. Oyejide
Non-Oil Exports, Economic Growth And Macroeconomic Stability, T.A. Oyejide
Economic and Financial Review
The author discussed the role of non-oil exports in the structural transformation and sectoral diversification processes which are inherently associated with sustainable growth and development outcomes as well as the focus of the analysis shifts to an examination of the role of non-oil exports in promoting economic growth and development.
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Financing Government Programmes In Economic Downturn: Policy Options, F.U. Jacobs
Economic and Financial Review
This author examines the various policy options for the manufacturing sector of the economy in an economic downturn.
Financng Government Programmes During Economic Downturn: Policy Options, E.M. Abolo
Financng Government Programmes During Economic Downturn: Policy Options, E.M. Abolo
Economic and Financial Review
The author discussed various policy options that can be adopted to finance government programmes during economic downturn. He explained in details the concept as it affects the economic growth and development.
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Governments' Options For Financing The Sustainable Development Goals (Sdgs) In A Period Of Economic Downturn, Robert C. Asogwa
Economic and Financial Review
The paper reviews the strategies for strengthening the existing sources of traditional finance in Nigeria and also, introduces new sources of innovative finance that will be suitable for funding government development programmes, as well as, the SDGs Agenda 2030. Furthermore, the possible role of the central bank vis a-vis the government fiscal authorities in the management of some sophisticated financial instruments which is increasingly gaining momentum as part of innovative development finance is discussed.
Financing Government Programmes In Economic Downturn: Theoretical Issues And Perspectives, A. H. Ekpo
Financing Government Programmes In Economic Downturn: Theoretical Issues And Perspectives, A. H. Ekpo
Economic and Financial Review
The purpose of this paper is to articulate the theoretical issues and perspectives which underscore the need for caution in financing government programmes whether in the recurrent outlay or capital programmes as individual financing modes have built in costs and risks that could inhibit the realisation of government objectives.
Financing Government Programmes In Economic Downturn: A Comparative Analysis, T. Oshikoya
Financing Government Programmes In Economic Downturn: A Comparative Analysis, T. Oshikoya
Economic and Financial Review
This paper examines the experience of Nigeria and other oil exporting countries in adjusting to lower oil prices and financing government programmes during economic downturn.
Financing Government Deficit During Economic Downturn: Options For Consideration, O. Ajakaiye
Financing Government Deficit During Economic Downturn: Options For Consideration, O. Ajakaiye
Economic and Financial Review
The author examines the efficacy of the conventional approach to financing budget deficit during economic downturn in Nigeria. He also considers other (unconventional) options for financing budget deficits during economic downturn in Nigeria.
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
The Role Of Central Banks During Economic Downturn: Lessons And Options For Financing Government Programmes In Nigeria, C.N.O. Mordi
Economic and Financial Review
The author examine both the traditional and developmental roles central banks plays in financing government programmes/projects.
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria
CBN Annual Report
Annual Report and Financial Statements of the Central Bank of Nigeria (CBN) for the year ended 31st December, 2014. In general, 2014 has been a very eventful and challenging year for the Bank, the country, and the world at large. In the course of the year, the Bank underwent significant changes in its governance composition. In 2014, the global economy witnessed considerable vulnerabilities characterized by fragile growth and weak economic outlook. Global growth recovery was modest and continued to be threatened by strong downside risks, as a result of sharp drop in commodity prices, escalating geo-political tensions, and heightening threats …
Government Size And Economic Growth In Nigeria: A Test Of Wagner's Hypothesis, M. Y. Dogo, U. M. Okpanachi, A. A. Muhammad, C. V. Umolu, K. J. Ajayi
Government Size And Economic Growth In Nigeria: A Test Of Wagner's Hypothesis, M. Y. Dogo, U. M. Okpanachi, A. A. Muhammad, C. V. Umolu, K. J. Ajayi
Economic and Financial Review
This paper attempts an empirical validation of Wagner's law in Nigeria using quarterly data for the period 1982 to 2012. The hypothesis that real income does not Granger-cause government expenditure was rejected. Adopting the Fully Modified Ordinary Least Square (FMOLS) regression techniques, the study found support for the Wagner's hypothesis in Nigeria. The analysis provided empirical evidence to support the existence of a long-run equilibrium relationship between economic activity and government expenditure in Nigeria. Overall, the results corroborated the Goffman's version of the Wagner's law in Nigeria. Thus, government needs to create fiscal space to enable deployment of more resources …
Analysis Of External Debt Dynamics In Ecowas Economies, A. C. Chuku
Analysis Of External Debt Dynamics In Ecowas Economies, A. C. Chuku
Economic and Financial Review
This paper recognised the importance of identifying the core determinants of external debt dynamics in ECOWAS economies. Using a panel dynamic generalised least squares procedure, the study sought to identify the core determinants of external debt dynamics in 12 ECOWAS economies from 1970 to 2009. Overall, the findings revealed six core determinants of external debt in ECOWAS economies. Inflation, external reserves, per capita income and real oil prices were inversely related with external debt ratio; while, GDP gap and real effective exchange rate depreciation directly affected external debt. Significant dissimilarities were observed in the influence of government size and inflation …
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2008., Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2008., Central Bank Of Nigeria
CBN Annual Report
The Central Bank of Nigeria (CBN)'s 2008 report evaluates macroeconomic policies and outcomes, focusing on corporate operations and the economy's performance against domestic and external economic and financial developments. The CBN's monetary policy stance and banking and financial measures were deployed to ensure price stability and financial sector soundness. Despite the global economic downturn, the financial system remained relatively stable and overall macroeconomic performance was satisfactory. The formal financial system at end-December 2008 comprised the CBN, the Nigeria Deposit Insurance Corporation, the Securities and Exchange Commission, the National Insurance Commission, the National Pension Commission, and various banks. The banking sector …
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2007, Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2007, Central Bank Of Nigeria
CBN Annual Report
In 2007, the Central Bank of Nigeria (CBN) faced significant challenges in monetary management due to statutory allocations to government tiers, autonomous foreign exchange inflows, and pre-election spending. These challenges were addressed through Open Market Operations (OMO), issuance of treasury securities, standing facilities, and foreign exchange swaps. The introduction of the monetary policy rate (MPR) in December 2006 moderated inter-bank rates, encouraged trading, and improved the transmission of monetary policy actions. The Bank intensified its non-regular management activities to ensure the Policy Support Instrument (PSI) target was met. The financial system at end-2007 comprised the CBN, the Nigeria Deposit Insurance …
External Sector Policies In The 2004 Budget, Obadan I. Mike
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. …
Interstate Trade And Economic Development In Nigeria., Ukwu I. Ukwu
Interstate Trade And Economic Development In Nigeria., Ukwu I. Ukwu
Bullion
The economy is characterized by low industrial development, predominantly poor population and low agricultural production. The paper presents an analysis of the present size and structure of the Nigerian Domestic market, examine the patterns of trade among states and zones, and consider what needs to be done to improve the domestic trade system and enable it play its appropriate role in the overdue of transformation of the Nigerian economy. Finally, the study reveals that economic development of any state or group of states can be improved if they take advantage of economic integration. The relatively low level of economic development …
National Economic Development Planning: Review Of Nigeria's Performance And Future Prospect, A. P. Awoseyila
National Economic Development Planning: Review Of Nigeria's Performance And Future Prospect, A. P. Awoseyila
CBN Occasional Papers
This paper took a global view of development planning as operational tool for rapid economic growth and social advancement. It reviewed Nigeria's planning experience which achieved varied degrees of successes especially in the areas of education, social and economic infrastructure. It also noted that achievement levels for all the successive plans were generally below expectations. In order to improve on plan performance and turn the economy around, the paper suggested, the need for quickening the process of preparation and launching of a perspective plan for the country; setting up of central planning agencies at the State and. Local Government levels …
Adjustment Issues In Nigeria: Problems And Prospects, J. K. A. Olekah
Adjustment Issues In Nigeria: Problems And Prospects, J. K. A. Olekah
Bullion
This paper examines adjustment issues in Nigeria, with emphasis on identifying outstanding and emerging problems after SAP, ln achieving the above objective, the paper is divided into three ports as follows: Part I, discusses the main economic problems three years of Pre-SAP as well as analysing trends in major economic indicators and the factors underlying the trend, The main element and policy strategies of SAP are also examined in this part. Part ll analyses, three years of post-SAP with the view to highlighting outstanding and anticipated problems while Port lll is the prospects and concluding summary.
The President's Address To The Chief Executives Of The Organised Private Sector On The 1991 Budget And Other Related Matters, Ibrahim Badamasi Babangida
The President's Address To The Chief Executives Of The Organised Private Sector On The 1991 Budget And Other Related Matters, Ibrahim Badamasi Babangida
Bullion
This was an address delivered by the formal President of Nigeria, His Excellency, Major General Ibrahim Badamasi Babangida. He addresses economic and financial related matters.
An Appraisal Of Public Sector Financing Of Agricultural Development In Africa With Particular Reference To Nigeria, J. O. Osakwe, M. O. Ojo
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 …
Recent Developments In Nigeria's Oil Industry And Their Implications For Government Finance, Petroleum Studies Office Research Department
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.