JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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AGRICULTURAL SHOCK COPING STRATEGIES AND FOOD SECURITY AMONG FARMING HOUSEHOLDS IN NIGERIA
Get PDFFarmers are increasingly exposed to agricultural shocks such as pest invasion, flooding, poor rains, input price increase and fall in output price, which further worsen their food security state and well-being. Adopting strategies to cope with the shocks may enhance farmers’ food security, although studies that link agricultural shocks to food security of households in Nigeria are not abundant. Therefore, this study examines the effects of agricultural shock coping strategies on food security among farming households in Nigeria. Data on 903 farming household heads were extracted from Nigeria’s 2018/2019 general household survey, including; socioeconomic characteristics, agricultural shocks and the coping strategies adopted (assets-based, food adjustment-based, assistance-based, and borrowing-based). Data were analyzed using descriptive statistics, Foster-Greer-Thorbecke food security measure and logit regression. Results showed that most households were food insecure (51.8%) and did not adopt any coping strategy (62.50%). The most commonly adopted strategy (17.90%) was assets-based. The assistance-based coping strategies increased the probability of being food secure along with secondary and tertiary education, credit access and cooperative membership. Contrariwise, age and living in the rural sector, North-west and South-south zones decreased the probability of being food secure. Therefore, food security policy for farmers should focus on assistance through social security programmes, encouraging higher education level attainment, improved credit access, cooperative membership and rural living condition
RETENTION POLICY, CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF LISTED MANUFACTURING FIRMS IN NIGERIA
Get PDFSequel to the economic policy direction of the new administration in Nigeria with regards to fuel subsidy removal and uniform foreign exchange rate, together with its attendants effect on the GOP. This paper examined the nexus between retention policy and the financial performance of listed manufacturing firms in Nigeria using corporate governance as a moderating variable together with financial leverage, li9quidity, tangibility, firm size and firm age as control variables. Descriptive survey research design was adopted using secondary data. Based on purposive sampling techniques the study obtained relevant data from 56 firms, whose stocks were traded consistently from 2008 to 2018 out of a population of 78 listed firms. Tables, percentages and random effect estimations were used to analyze the data. The result of the analysis empirically revealed that at 1% level of significance, a positive relationship exist among retention policy, corporate governance and the financial performance of firm (proxy with ROA). In addition, all the control variables also exhibited significant relationship at 1% level. The study therefore concludes that retention policy and practices of efficient corporate governance contributed and significantly enhance financial performance of firms in Nigeri
NIGERIAN NEWSPAPER EDITORIALS AND FRAMING OF ECONOMIC POLICIES
Get PDFJust only six months, and President Tinubu administration had already thrown the citizens into more hardship than his predecessor, Muhammadu Buhari, left them. This paper investigated the economic policies of President Tinubu’s six months in office. It covered the period of March 1 to August 20, 2023. Anchoring on framing and Systemic Functional Linguistics, the paper content-analyzed 76 editorials of two randomly selected online private newspapers – Punch (56) and Premium Times (20) – to compare their manifest contents, framing language, headline stylistics, slant, semantics, syntactic features and impact. Stories were sourced through motif sampling, and data presented on tables using simple percentages. Findings showed 17 themes with 235 stories. Punch had 139 stories and Premium Times 96. It was also found that the lengths of the editorials according to the number of paragraphs were Punch 1,082 (80.8%) and Premium Times 257 (19.2%) with a grand total of 1,339 paragraphs. The ten longest paragraphs in Punch had 279 lines (61.7%) while that of Premium Times constituted 173 lines (38.3%). Again, Punch was more elaborate in its editorializing than Premium Times whereas the latter was more consistent in paragraph structuring. It was discovered that Premium Times, bending towards the state, chose to underreport the case, remain silent, or neutral. Finally, the paper found the impact of the economic policies were highly negative and had thrown the people into untold hardship. Policy recommendations were proffered
EFFECTIVENESS OF HUMANITARIAN LOGISTICS OF RELIEF MATERIAL AT INTERNAL DISPLACED PERSONS CAMP IN ABUJA, NIGERIA
Get PDFOver the years, disasters have displaced millions of people and has forced many people into poverty. Hence, the need for humanitarian aids to provide care and relief items for the displaced person. The purpose of this study is to assess the effectiveness of humanitarian logistics of relief materials in selected internal displaced persons camp in Abuja. It formulated one null hypothesis stating, there is no statistically significance to the effectiveness of five key component of relief material logistics. Purposive sampling method was utilized to pick Malaysian Garden IDPs camp and Area one IDPs camp for this study. Conveniency sampling was utilized to administered 120 questionnaires among the humanitarian aids organization. Principal component factor analysis was used to reduce the variables into 5 key variables (i.e., Management of items in Inventory, Storage/warehousing of items, Distribution Approach, Procurement Method and available transport facilities). The data collected was analysed using descriptive statistics and inferential statistics; T test was utilized to test the hypothesis. The result shows that there is no statistically significance to the effectiveness of Management of items in inventory (P-value= 0.278); storage/Warehouse of items (P-value= 0.469), Distribution approach (P-value=0.371, Procurement method P-value =0.135) and available transport facilities (P-value = 0.142). The study recommends among others that adequate transport facilities should be provided by the government to aid swift mobility in the IDPs camps. Also, Relief items which are frequently demanded like drugs should be stored by the aid organization for easily delivery to the IDPs when needed
AN ASSESSMENT OF THE SOCIAL PROTECTION PROJECT: THE GAMBIA SOCIAL SAFETY NET PROGRAMMES AND THE STANDARD OF LIVING IN THE COUNTRY
Get PDFThe study evaluated the impact of the Gambia's social safety net programmes on the country's standard of living. The goal is to identify the basic roles of the Gambia Social Safety Net Programme (TGSSNP) on the standard of living in The Gambia, examine the impact of TGSSNP on the standard of living of beneficiaries in The Gambia, and assess the challenges that TGSSNP faces in improving the standard of living of beneficiaries in the country. The research used questionnaire in the study. The snowball sampling approach and purposive sampling were used in the study. The snowball was used to connect the researcher with other beneficiaries from one point of contact to the next. However, for the quantitative data, 398 respondents were purposively chosen for the study, but for the qualitative data, all members of the social safety nets within the scope of the study were interviewed. The study's findings revealed that, despite the multiple problems that safety net programmes face, their impact on the lives of vulnerable Gambians has been relatively good as it relates to cash transfers, scholarships, assistance on food items, and so on. Although some respondents denied receiving any form of benefit from the program as aforementioned. This confirmed the challenges that social safety net programmes continue to face in areas such as funding and management problem. The study recommended, among other things, that there is a need for more support from investors, the government of the day, and partnerships with agencies on social protection
MONETARY POLICY AND MANUFACTURING SECTOR DEVELOPMENT IN SUB-SAHARAN AFRICA: EVIDENCE FROM THE CFA FRANC ZONE
Get PDFThe study examined the effect of monetary policy on manufacturing value added (performance) of the CFA franc zone of SSA based on panel data covering 7 countries in the region from 1995 to 2021. The study employed the panel ARDL model, which is estimated with three dynamic panel estimators, namely Mean Group (MG), Pooled Mean Group (PMG), and Dynamic Fixed Effect to capture the long and short-run response of the manufacturing sector to monetary policy. Lending interest rate, exchange rate, and domestic credits to the private sector were monetary policy variables while manufacturing value added was used to measure manufacturing performance. Findings from the study show that in the short-run, all monetary variables comprising the lending interest rate, credit to the private sector, and exchange rate have no real impact on manufacturing sector performance. However, in the long run, lending interest rate and credit to the private sector have significant negative and positive effects respectively on manufacturing performance while the exchange rate had no real impact. The study concludes that monetary policy has a significant impact on manufacturing sector performance in the zone through lending interest rates and domestic credits. Based on the findings, the study recommends an expansionary monetary policy that involves a lowering of lending interest rates to provide more incentives for manufacturers to invest and increase output. Manufacturer-specific credits should be increased and closely monitored to boost production. The region should diversify the export basket from primary products and adopt market-determined exchange rate
GRANGER CAUSALITY APPROACH TO THE CONFIRMATION OF POST-COVID 19 KEYNESIAN TWIN-DEFICIT HYPOTHESIS IN NIGERIAN ECONOMY
Get PDFOne of the recent critical post COVID 19 challenges being witnessed across the globe especially among the developing countries, Nigeria inclusive, has been the increasing cases of deficit financing aimed at providing economic and social overheads in view of insufficient private investment in these countries. Thus, while the developed countries are re-strategizing on how to contain this menace, the developing countries, Nigeria in particular, with her agrarian economy as the major employer of labor, is currently facing a monumental food crisis caused by a combination of socio-political imbalance in the system. This paper was aimed at investigating the extent to which changes in budget deficits predicts changes in current account balance in Nigeria using time-series data spanning from 1980 to 2022. The methodology adopted for the study was multiple regressions. The regression results show that at 5 per cent levels of significance and relevant degrees of freedom, changes in budget deficits (Bd) have a positive and significant long-run impact on current account balance (CAB) in Nigeria. Furthermore, a short-run negative relationship between budget deficit and export was also established, thus confirming the presence of twin deficits hypothesis in post COVID 19 Nigerian economy. Moreover, the result of the system equations confirmed the existence of a causal relationship between budget deficits and current account balance in Nigeria. The recommendation was that government should adopt fiscal management actions aimed at minimizing borrowing and capable of reducing fiscal deficits that often result in a large amount of transfer payments and questionable additional budget expenses in Nigeria
ASYMMETRIC IMPACT OF SOME SELECTED MACROECONOMIC VARIABLES ON NATURAL GAS CONSUMPTION IN NIGERIA
Get PDFThis study examined the impact of macroeconomic variables on natural gas consumption in Nigeria during the period 1980–2021 using nonlinear autoregressive distributed lag (NARDL) model. Findings indicated that, natural gas consumption falls with exchange rate appreciation, and rises with depreciation in exchange rate in Nigeria. Also, natural gas consumption falls with increase in inflation rate, and increases with the fall in the rate of inflation. Increase in money supply reduces natural gas consumption, so also decrease in money supply. Finally, the results also revealed that, a rise in economic growth increases natural gas consumption, and as well, a fall in economic growth raises natural gas consumption in Nigeria. The study therefore recommends that, effective use of monetary policy tools in checking the growth of money supply, exchange rate and inflation rate could be of help in boosting natural gas consumption and stirring up economic growth in the country. Since natural gas consumption responds negatively to the changes in the exchange rate, implying that, exchange rate depreciation discourages importation, foreign exchange demand, and propel domestic production which in turn results in more natural gas consumption and improved growth and development in the country. 
UNEMPLOYMENT AND INFLATION TRADE-OFF: THE NIGERIA EXPERIENCE IN THE CONTEXT OF PHILIP CURVE
Get PDFPrice stability and full employment are not complimentary macroeconomic objectives rather they are conflicting macroeconomic goals. In order words inflation and unemployment are also conflicting policy objectives. It therefore implies that one must be sacrificed to attain the other. The main objective of this study is to analyse the unemployment and inflation trade-off: the Nigerian experience regarding the Philip curve. The study used time series econometric analysis. The Augmented Dickey-Fuller (ADF) unit root test showed that the variables were of I(0) and I(1), hence Autoregressive Distributed Lag Model (ARDL) was used for the estimation. The study found that the Philip Curve of an inverse relationship between the two variables (Inflation rate and Unemployment rate) is true for Nigeria economy. The analysis showed that inflation rates fall from 34 percent to 12.2 percent and consequentially to 12.0 percent for the decade analysis. Conversely unemployment rate increased from 3.3 percent to 13.7 percent and subsequently to 15.6 percent. This study therefore confirms Philip theory in Nigeria. Theoretical evidence showed that monetary policy used in solving unemployment worked best when it allowed the real economy to respond appropriately to economic fundamentals. This was shown by low speed of adjustment of 48.9 as shown by the co-integration result. It was recommended that credit control and demonetisation of currency with higher denomination can be a viable monetary policy while a surplus budget and reduction in government expenditure can be a viable fiscal policy when inflation poses a serious challenge