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ENERGY CONSUMPTION AND PRODUCTIVITY IN NIGERIA
Get PDFEnergy is critical to the survival and expansion of any economy, but in Nigeria, energy
consumption has been skewed towards household use, and below thresholds for sector driven
growth. The paper updates in time and methodology those studies highlighting the significance of
energy use for economic growth, using the Bound test and the Auto regression Distributed Lag
(ARDL) to establish the long and short run relationships between disaggregated energy
consumption and economic growth in Nigeria from 1990 to 2016. The variables considered were
real GDP, energy consumption decomposed into electricity and petroleum consumption, labor and
capital. The findings showed that, in the short and long run, petroleum consumption and labour
have a significant positive relationship with GDP. Furthermore, the causality results showed that
feedback causation between economic growth and energy consumption as well as labour exists,
while one-way causation runs from labour to economic growth. The expansion and diversification
of the power-generation portfolio in the country would improve energy consumption towards
better output. Also, policies to encourage industrialization would move energy demand towards
increasingly productive uses
Assessment of bacterial degradation of lignocellulosic residues (sawdust) in a tropical estuarine microcosm using improvised floating raft equipment
No full textIn situ and laboratory studies were carried out to determine the ability of bacterial strains isolated from a tropical lagoon to degrade lignin and carbohydrate components of sawdust, with a view to abating the impact of sawdust pollution on these ecosystem. A floating raft system was designed and fabricated to carry out the in situ biodegradation studies over a period of 24 weeks. Nine bacterial strains identified by 16S rRNA gene sequencing as species of Streptomyces, Bacillus and Paenibacillus isolated from the lagoon were used as seed organisms. In the in situ study, 59.2% of sawdust was depleted at the rate of 1.175 x 10-4 gd-1 cm-3 by the bacterial isolates, whereas the lignin component of the sawdust decreased by up to 82.5% at the rate of 1.80 x 10-5 gd-1 cm-3. The maximum decrease in carbohydrate content was 85% at the rate of 2.192 x 10-7 gd-1 cm-3. In a similar experiment under laboratory conditions, total weight losses ranging from 26 to 51% in the wood residues were observed
Legislating For Cyberspace: Challenges for the Nigerian Legislature
Get PDFThe need to make proper legislations governing interactions in the world of technology is a contemporary issue
and several nations across the globe have made serious efforts at legislating for cyberspace. Nigeria as an
emerging international market and a continental leader is capable of profiting in cyberspace but has not made
serious attempts at legislating for interactions therein, thus the possibility of abuse of the infrastructure is largely open. This article argues that the Nigerian legislature should make adequate legislations to govern interactions in cyberspace and attempts to point out the challenges that the legislature should advert its mind to in the course of doing same. It also attempts to draw lessons from some other jurisdictions. In discussing the challenges, this article considered issues like personal jurisdiction in cyberspace, the default state of anonymity, the constitutional guarantee of freedom of speech, the threat of cybercrime and the need to strike a balance between data protection and freedom of information. The article concludes that though legislating for cyberspace may not be easy, laws must be made to govern it since online interactions have impacts in the real world
Labour Market Outcome of 1976 Universal Primary Education in Nigeria
Get PDFIn this study attempt to estimate the impact of schooling attainment on an important indicator of labour market performance: wealth. OLS and IV regressions produced economically and statistically significant estimates, with OLS estimate of about 18 percent and IV estimate of about 30 percent when pooled DHS is used and about 56 percent when HNLSS data are employed. We have no evidence that OLS estimates are an artifact of the way the dependent variable is constructed or influential observations are driving observed outcome. In our IV regression specification, econometric tests prove that instrument is strong. Indicative and formal tests of instrument validity such as addition of new relevant variables, falsification tests, plausibly exogenous test and over-identification test are proofs of instrument validity. A number of econometric strategies implemented indicate that influential observations and selective migration are not biasing our results
Management Accountants’ Functions and Control System in Informal Sector’s Business Decisions in Nigeria
Get PDFThis paper examined the effects of Ownership-Controls and Management Accountant(s) functions indecision
making process of informal businesses (SMEs) in Osun State of Nigeria. Disparity cases that areoften
experienced by Management Accountants on decisions and that of business Owners in informalbusiness
sectors – One-man businesses, partnership businesses and other private companies necessitate thisstudy.
Many Accountants in the informal business sectors are suffering from a lot of hardships through self -
designed decisions usually imposed by business Owners at the expense of information generated
throughcalculated parameters on business decisions. The study used both Simple Percentage Method
andDescriptive Data Analysis Method (DDAM) to evaluate 10 informal businesses in Osogbo, the capital
city ofOsun State of Nigeria. The study revealed that most informal Businesses failed due to the fact that
Ownersare always ignoring the advice of Management Accountants in vital business decisions. The
paperrecommends proper utilization of MCS principles in line with information supplied by
ManagementAccountants in both formal and informal sectors of Nigeria economy so as to aid the function
and servicedeliverance potentials and subsequent improvement in SMEs results in Nigeri
Purification and Physicochemical Properties of Rhodanese from Liver of Goat, Capra Aegagrus Hircus
Get PDFStaff PublicationRhodanese from the liver of domestic goat (Capra aegagrus hircus) was extracted, purified and the catalytic as well as physicochemical properties determined in order to gain an insight into how domestic goats are able to feed and thrive successfully on cyanogenic plants such as sorghum, millet and cassava. A domestic goat was purchased from a freehold rearing place in Ile-Ife, Osun State, Nigeria, where it was slaughtered and the liver excised. It was rinsed with normal saline (0.9 % NaCl, pH 7.4) to remove blood and other impurities. Approximately 95 g of the liver was homogenized in 3 volumes of 0.1 M acetate glycine buffer, pH 7.8 containing 1 mM ԑ-amino-n-caprioc acid and 10 mM sodium thiosulphate in a blender, after which it was centrifuged for 15 min at 12,000 rpm at 4℃. A specific activity of 1.55 micromole thiocyanate formed per millilitre per minute (Rhodanese Unit; RU) per mg of protein (U/mg) with a purification fold of 1.88 and 36 % yield was obtained from the rhodanese extracted from the liver of goat rhodanese after CM-Sephadex, Sephacryl S-400 and Reactive Blue 2- agarose column chromatography. An apparent molecular weight of 36 kDa was obtained on Sephacryl S-400 and a subunit molecular weight of 19 kDa was obtained from Sodium dodecyl sulphate polyacylamide gel electrophoresis (SDS-PAGE). A Km value of 0.034±0.007 mM and Vmax of 16.70±3.36 units/mL was obtained for Na2S2O3 while a Km value of 0.038±0.004 mM and Vmax of 18.77±1.58 units/mL was obtained for KCN. An optimal pH of 8.5, 9.5 and 7.0 were obtained using citrate-phosphate-borate, Tris-HCl and citrate-phosphate buffers respectively. Goat liver rhodanese showed an optimal temperature of 40℃. All the chloride salts used which included KCl, MgCl2, CaCl2, MnCl2, AlCl3 and NH4Cl inhibited rhodanese activity, with the highest inhibition was observed with MnCl2 and least inhibition observed with KCl. Goat liver rhodanese was inhibited by all active site inhibitors, with the the highest inhibition observed with arsenic acid. It can therefore be concluded that domestic goats (Capara aegagrus hircus) are able to feed and survive on cyanogenic plants due to the presence of the cyanide detoxyfying enzyme, rhodanese, present in their liver at high activity with suitable kinetic properties
Regulations or Legislation for Data Protection in Nigeria? A Call for a Clear Legislative Framework
Get PDFPersonal information or personally identifiable data is a subject that people have become aware of the need to protect. And the challenge of legislating for data protection in today’s world is that which many nations have taken seriously. Nigeria as a developing nation appears not to be left out of this as the NITDA has released a set of guidelines in this regard as a means to offer some protection. This article examines legislations on the Nigerian landscape that resemble data protection legislation like the Official Secrets Act, the Freedom of Information Act and the most recent NITDA Draft Guidelines for data protection with a view to show the adequacy or otherwise. The guidelines were examined in some detail. The paper summarily compares the present landscape with the European Union standard and concludes that Nigeria does not have adequate data protection legislation. The paper concludes that strong legislation is desirable to protect personal data in Nigeria
Terrorism, A Global Phenomenon Threat to Banking and Tourism Sectors in Nigeria: A True Story.
No full textThe research study examined terrorism, a global phenomenon threat to banking and tourism sectors in
Nigeria: A true story. The global attention began its focus on embassy bombing, aircraft hijacking and
9/11 terrorists-attack in 2001, which have now moved to the shore of Africa, particularly in North-
East Nigeria, which may be assumed as ‘Third World War’. The banking and tourism sub-sectors’
operations have been completely distorted due to the operations of the terrorist, ‘Boko-Haram’.
Forcing banks to close down operations indefinitely and tourists’ have been discouraged to visit
Nigeria, thereby reducing the Foreign Direct Investment (FDI), with a strong decline in national
economic growth. Data were collected through questionnaire administered on the responses of the
respondents. A simple linear regression technique (Ordinary Least Square) was adopted to address the
significant relationship among the responses of the respondents gathered though the research
instrument. The paper concluded that with high degree of information and human capital technology,
the channeling of funds were made with ease and speed, which could be traced to terrorist accounts
(capital flow) for the purpose of financing their deadly activities; which served as a threat to national
economic growth. The paper advised government ministries, agencies and departments (MDAs),
operators, regulators, and other policymakers etc., to enhance intelligence so as to assist financial
institutions to “red flag” potential terrorist transactions for checking against the financial institutions’
records; and financial institutions (banks) should always expect feedback on the usefulness of the
suspicious transactions reports they provide either to domestic or international financial intelligence
units
The Impact Of Deposit Money Banks (DMBs) On The Survival Of Mıcro Scale Enterprises (Caterıng And Outdoor Servıces) in Nıgeria
No full textThe study focused on the impact of Deposit Money Banks (DMBs) on the survival of micro scale enterprises (outdoor catering services) in Nigeria. It would be difficult to discuss outdoor catering services without considering the pivot that assists its operations; the fulcrum of its operation is the informal sector of the economy. It is however obvious that catering is a good example of micro scale entrepreneurial business that supports the development of the nation’s national growth. The economy of any nation depends on the contributions of all sectors particularly the micro scale enterprises (MSEs). The important role of MSEs in the national economy cannot be over emphasized given their enormous role in the transformation of rural economy. Primary source of data i.e. questionnaire and interview were used in the study. A simple Ordinary Least Square (OLS) method was further adopted to statistically analyze the responses of the respondents gathered though the research instrument so as achieve a reasonable conclusion for the study. The paper concluded that the growth of MSEs does not depend significantly on the support and activities of Deposit Money banks (DMBs) in Nigeria because of the stringent lending conditions and other funding requirements by most banks. The paper recommended that there is urgent need by government to review the reform in the banking subsector so that DMBs can effectively fund MSEs’ activities with long-term, low interest rate facilities; in order to assist the its survival both in short and long run to meet long-term plans, and to enhance national economic growth and development
Revisiting the Effects of Workers’ Remittances on Economic Development in Nigeria
Get PDFPoverty in Nigeria continues unabated despite huge inflow of remittances. Our result supports the argument that remittances can improve economic growth but can also worsen overall wellbeing. Reasons for this are, first, remittances beneficiaries in Nigeria are concentrated in the middle income class with high propensity to consume. Second, due to high propensity to consume, consumption triggers good prices in such a way as to worsen the purchasing power of the poor. Third, institutions are weak and the poor do not benefit from weak institution. Thus good quality institutions should be encouraged while ostentatious spending should be discouraged