JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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ENTREPRENEURSHIP EDUCATION AND EMPLOYMENT CREATION IN NNEWI, NIGERIA
Full text linkThis study examined the impact of entrepreneurship education in fostering employment creation among youths in Nnewi, Nigeria, within the framework of the Human Capital Theory. Based on the idea that investing in human knowledge and skills boosts economic growth and productivity, the study used a descriptive survey design to gather pertinent empirical data. A sample size of 214 was established using Taro Yamane, and the population consisted of 460 people selected from all Nnewi entrepreneurial education centers. Both primary and secondary sources of data were used, and 206 of the 214 structured questionnaires that were distributed were properly filled out and returned. Chi-square (χ²) tests were used to test the hypotheses, and mean scores were used to ascertain the central tendency of the responses. According to the findings, entrepreneurship education gives youths the critical knowledge, creative abilities, innovative business concepts, managerial skills, and strong sense of social responsibility that all play a major role in creating jobs. The findings highlight the necessity of ongoing funding for entrepreneurship education as a tactical instrument for lowering unemployment and fostering long term economic growth
ANALYSIS OF DETERMINANTS OF ELECTRICITY THEFT IN NIGERIA
Full text linkThe challenge of electricity theft has continuously contributed to unreliable electricity supply and undermined the financial viability of the electricity sector in Nigeria. This study examines the determinants of electricity theft across eleven electricity distribution companies from 2017 quarter 3 to 2024 quarter 3, using a fixed-effect panel model. The findings show that all variables in the analysis are significant determinants of electricity theft, except the metering rate. An increase in the actual price of electricity, the population of registered electricity consumers, and the previous rate of electricity losses exert positive and significant effects on electricity theft. The impact of electricity price was particularly pronounced, with a coefficient of 93.87, indicating that tariff increases without commensurate improvements in service reliability directly exacerbate theft. Conversely, improvements in the quality of electricity supply and revenue collection marginally reduce electricity theft. The study recommends that the Nigerian Electricity Regulatory Commission (NERC) mandate targeted infrastructure investments by DISCOs to enhance supply reliability, while DISCOs’ management, fully digitalize payment channels to eliminate cash transactions and improve revenue collection efficiency. These strategies are expected to mitigate electricity theft, enhance service delivery, and strengthen sector financial viability
EXCHANGE RATE AND INDUSTRIAL SECTOR PERFORMANCE IN NIGERIA
Full text linkThis study examined the effect of exchange rate on industrial output in Nigeria. It employed the autoregressive distributed lag model (ARDL) test of co-integration as the estimation technique. The study found that exchange rate has a negative and statistically significant impact on industrial output at 5 percent significance level in the long run. However, in the short run, the impact of exchange rate on industrial production in Nigeria was found to be positive but not statistically significant at five percent significance level. Exchange rate was found to have a positive and statistically significant impact on quarry and mining output at 5 percent level of significance in both the long-run and short-run periods. To mitigate the adverse effects of exchange rate fluctuations, policymakers and businesses should consider implementing strategies such as hedging or diversifying their currency exposures. Additionally, fostering solid international trade relationships and promoting domestic industrial competitiveness should sufficiently be leveraged on to mitigate against the negative impact of exchange rate volatility. Most importantly the current exchange rate stabilization initiative of the current administration that has seen margin of gain between black market and official forex window shrink should be doubled so as restore needed investment confidence and boost trade
EFFECT OF INSTITUTIONAL QUALITY, DIASPORA REMITTANCES AND FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN WEST AFRICA MONETARY ZONE
Full text linkThis study examines the effect of institutional quality, diaspora remittances, and foreign direct investment on economic growth in the WAMZ region for the period from 1990 to 2022. Using the Panel Autoregressive Distributed Lagged model, the study established that institutional quality stimulates growth while diaspora remittances negatively impact growth in the long run but insignificantly spur growth in the short run. FDI emerges as a critical contributor to longrun economic growth despite its short-run negative effect. The study also finds that the economy will swiftly restore equilibrium aftershocks at a speed of adjustment of 79.5%. In addition, there is a unidirectional causality between the control of corruption and economic growth, a bidirectional causality between the economic freedom index and economic growth, and between FDI and economic growth. However, there is no causal relationship between diaspora remittance and economic growth. Based on these outcomes, the study recommends that WAMZ governments and policymakers prioritise improving and enforcing a robust legal and regulatory framework to inhibit corrupt practices, ensure transparency, and prevent market monopolies. The study also suggests encouraging diaspora investment through attractive incentives, as remittances have the potential to stimulate economic growth significantly. Lastly, governments should create a conducive environment for business operations, with a strong emphasis on transparency, as this is a crucial factor in economic growth
NATURAL GAS EXPORTS AND NIGERIA’S FOREIGN RESERVES GROWTH
Full text linkThis research examined the contribution of natural gas exports to Nigeria's foreign reserves in the past two decades using data on Natural Gas export, foreign reserves trends, exchange rate and GDP growth. The study covered 2000 through 2022. Methods of analyses include descriptive statistics, ADF test for stationarity, Error Correction analysis and the Granger causality. The research found that gas export positively impact foreign exchange reserve. Theestimated ECT -1 established that 104% of existing dis-equilibrium between the short and long term dynamics were adjusted annually among the series. The study recommends that Nigeria needs to intensify efforts toward developing its gas industry so as to be reckoned with as a major supplier at the international scene, who is capable of meeting the needs of both domestic and international markets, and thus increase its foreign reserve through gas exports
IMPACT OF FINANCIAL INSTITUTIONS ON ECONOMIC ACTIVITIES IN NIGERIA (A CASE STUDY OF COMMERCIAL BANKS LOCATED IN OWERRI MUNICIPAL, NIGERIA)
Full text linkThis study investigates the role of financial institutions, with a focus on commercial banks, in fostering economic development in Nigeria, particularly in Owerri Municipal. By examining key banking functions such as fund mobilization, savings allocation, credit creation, short-term financing, and liquidity support for deficit sectors, the study evaluates the impact of these activities on Nigeria's economic growth. Using data from senior bank staff and weighted mean statistics, the findings reveal that fund mobilization and efficient savings allocation are pivotal in driving sustainable growth, while credit creation enhances business expansion and consumer spending. However, challenges such as low public trust, regulatory gaps, and high nonperforming loan rates undermine the full potential of banks in supporting economic development. The study recommends targeted actions from the Central Bank of Nigeria (CBN), the Nigerian Deposit Insurance Corporation (NDIC), and other key agencies to enhance digital banking, improve credit risk management, support entrepreneurial funding, and promote green finance. These recommendations emphasize the need for a balanced approach to banking practices that foster stability, inclusivity, and transparency. Policy implications suggest that strengthening regulatory oversight, enhancing digital infrastructure, and fostering public trust can optimize the economic contributions of commercial banks. The study concludes with recommendations for further research on the long-term effects of digital finance, the impact of green finance, and the role of institutional trust in shaping a resilient financial sector in Nigeria
RISK MANAGEMENT PRACTICES IN BREAD FACTORIES: AN EMPIRICAL STUDY FROM ENUGU, NIGERIA
Full text linkThe bread-baking industries face several risks that can negatively impact their operations, financial performance, and public health. This study adopted a survey design approach to analyze risk management in 60 bread factories in Enugu State, Nigeria. Primary data were generated with the aid of a semi-structured questionnaire and analyzed with both descriptive and inferential statistics. Results revealed that bread factories commonly use production (66.7%), supply (45.0%), and financial (36.7%) risk management strategies. Key factors influencing the choice of strategy include ownership structure (-1.018241), factory size (0.003131), market distance (0.034149), and access to credit (0.043334 for supply and 0.043258 for financial risk management), as well as location (0.485676 for supply and 0.493554 for financial risk management). Significant constraints to effective risk management were insufficient technical knowledge (2.98), lack of documented policies (2.77), inadequate financial resources (2.80), and difficulty accessing insurance (2.55). The study recommends workforce training, industrial cooperation, and better financial and insurance access to enhance sector resilience
MEDIUM-TERM EXPENDITURE FRAMEWORK (MTEF) AND REALISTIC BUDGETING IN KADUNA STATE
Full text linkDespite the implementation of the MTEF to guide realistic budgeting, significant gaps persist, leading to questions about the framework's effectiveness in achieving accurate and efficient public financial management. This study is focused on analyzing revenue and expenditure projections in Kaduna State from 2016 to 2023; determining whether the MTEF leads to realistic budgets or not and identifying the key challenges affecting the effectiveness of MTEF. The study employs a mixed-method approach, combining quantitative analysis of financial data from 2016 to 2023 with a survey of 50 MTEF and budget stakeholders. The quantitative analysis examines discrepancies between budget estimates, MTEF projections, and actual expenditures, while the survey gathers stakeholder perspectives on the effectiveness and challenges of MTEF implementation. The analysis reveals consistent overestimation of budgetfigures compared to MTEF projections and actual expenditures, highlighting issues in maintaining fiscal discipline and realistic budgeting. Based on the findings, this study therefore concludes that MTEF has not led to realistic budgeting due to political interference, data reliability concerns, capacity constraints, and poor stakeholder engagement. The study thus recommends Improve Data Quality, Strengthen Fiscal Discipline, Increase Stakeholder Engagement, reduction of political Interference, and capacity building. By implementing these recommendations, Kaduna State can improve its budgeting process, leading to more efficient public financial management and better alignment of budget estimates with actual economic condition
COVID-19 PANDEMIC AND STOCK MARKET VOLATILITY: EVIDENCE FROM SELECTED AFRICAN COUNTRIES
Full text linkThe paper investigates the impact of the COVID-19 pandemic on stock market volatility using evidence from 15 selected African countries. Monthly COVID-19 data for these countries, covering the period from March to November 2020, was sourced from various databases, including the World Bank Development Indicators (WDI) and Worldometer. The study employs the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model to generate stock returns volatility, which is then regressed against the COVID-19 data using pooled Ordinary Least Squares (OLS) and System-Generalized Method of Moments (GMM) estimation procedures. The empirical findings indicate that the COVID-19 pandemic significantly induced stock market volatility, largely driven by the heightened uncertainty that characterized the period, particularly during the peak growth phase of the pandemic. Both active infection cases and total deaths were shown to increase volatility, reflecting the destabilizing effects of the pandemic on market activities. Additionally, the study found a negative impact of exchange rate depreciation on stock market stability, exacerbating market fluctuations during the crisis. The study recommends the implementation of strong interventionist policies aimed at mitigating the effects of external shocks, such as pandemics, on financial markets. This includes the adoption of stable and competitive exchange rate policies, government interventions, and financial market regulations to enhance market resilience and promote stability in the aftermath of crises like the COVID-19 pandemi
ANALYSIS OF THE TECHNICAL EFFICIENCY OF CENTRAL BANK OF NIGERIA ANCHOR BORROWER PROGRAMME RICE FARMERS IN KANO STATE, NIGERIA
Full text linkSustainable agriculture can be promoted through access to technologies, resources, land, water, education, knowledge and agricultural advice. This study analyzed the economic efficiency of Central bank of Nigeria Anchor Borrower Program rice farmers in Kano State, Nigeria. Multistage sampling technique was adopted for this study. Data were collected through the use of a well-structured questionnaire from 50 sampled small-scale rice farmer beneficiaries in the study area. The stochastic production frontier statistical and econometric tool was used to achieve the stated objectives. Evidence from the technical efficiency model revealed that the coefficient of seed (P<0.01), fertilizer (P<0.01), farm size (P<0.01) and labour (P<0.01) positively and statistically influenced rice production.. The study also showed that contact with age(P<0.01), education (P<0.01),farming experience (P<0.01) and household size (P<0.01) were positive and significant determinants of technical efficiency with the exception of household size which had a negative influence of technical efficiency. Based on the findings in this study it was recommended that that access to quality inputs, promote farmer education, and improve land use practices should be essentially enhanced. Additionally, supporting older and experienced farmers and improving the impact of extension services can play pivotal roles in reducing inefficiencies