JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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LENDING RATES AND GROWTH RELATIONSHIP IN NIGERIA: THE ROLE OF STRUCTURAL BREAKS
Get PDFThe paper examines the dynamics between lending rates and economic growth in Nigeria, especially by accounting for the role of structural breaks in defining the true relationship between both variables. It utilised the Autoregressive Distributed Lag (ARDL) technique to ascertain the nature of the relationship. With the aid of quarterly data spanning 2010Q1 to 2022Q4, the paper found that among others, in both the long- and short-run, the lending rate had a positive relationship with economic growth. However, when structural breaks, represented by 2020Q2 (when the economy was locked down due to the COVID-19 pandemic) was accounted for, the relationship became negative. The paper therefore concluded that accounting for structural breaks matters for the relationship, especially in the short run
THE FIRM'S LOCATION IN RELATION TO THE SEAPORT AS A KEY FACTOR IN ENHANCING FIRM PERFORMANCE IN THE MANUFACTURING SUPPLY CHAIN
Get PDFIn the context of the global supply chain management, port-hinterland transport is viewed as one stage in the logistics chain from origin to destination. This stage covers between 40 and 80% of the total cost of shipping containers internationally. Therefore, for Nigerian manufacturers looking to enhance their supply chains, improving port-hinterland transport operations may be an effective approach. However, the literature is unclear regarding the importance of hinterland locations in enhancing firm performance. This study investigates how the location of import-dependent firms in relation to seaports affects their profits in Lagos and Ogun States, Nigeria. The population of the study consists of 10 publicly listed manufacturing firms that frequently import goods in containers through the seaports in Lagos and have been continuously listed on the Nigerian Stock Exchange (NSE) list for more than ten years (2010-2019). A structured questionnaire was employed in collecting primary data for the study. Only 6 of the ten firms filled and returned the questionnaires. This number accounts for 60% of the sample size. The results of the regression analysis show that the hinterland location has a strong positive relationship (r=0.731) with the profits of industrial products firms and that it explains around 53.4% (r2=0.534) of the variation in the profits of these firms. In order to transport goods between ports and industries efficiently, firms must look for strategic locations with access to cost-effective means of transportation such as rail and inland waterways. Similar to this, firms must understand how to prioritize their strategy in order to prevent the impact of rising port-hinterland transport costs on their revenue and profit
RETURN SPILLOVER EFFECTS BETWEEN OIL PRICES AND SECTORAL STOCKS IN NIGERIA: A DISAGGRETED APPROACH
Get PDFThis study examined the return spillover effects between oil prices and sector specific stock returns on the eleven sectors listed on the Nigeria exchange group whose main objective is to uncover return spillover effects between oil and stock returns. The study utilized the constant conditional correlation – CC – VARMA-GARCH methodology where findings indicate that returns in both markets reveal both short term predictability in prices and bi-directional spillover effects between oil sectoral stock returns. The study recommends among others for investors, portfolio managers, policy makers and other market participants to continuously monitor returns in both markets and factor same in their decision making process
PUBLIC PERCEPTION OF STIGMATIZATION AND DISCRIMINATION AGAINST PEOPLE LIVING WITH STAMMERING IN UNIVERSITY OF NIGERIA, NSUKKA
Get PDFThe importance of effective communication skills cannot be overemphasized in various aspects of life. However, stammering, a condition marked by speech disruptions, makes it difficult and sometimes impossible, for those who suffer it to efficiently communicate. The influence of the speech condition for stammers extends far beyond words, thus deeply impacting their quality of life and social connections. Worse still, is the unfortunate reality that stammering individuals often bear the weight of societal stigmatization and discrimination, owing to their plight. Hence, this paper focuses on public perception of stigmatization and discrimination against people living with stammering at the University of Nigeria, Nsukka. Employing a cross-sectional survey research design, 200 respondents aged 16 and above, for the structured questionnaire, were selected using a simple random sampling technique. Findings reveal a significant link between respondents' educational background and their propensity to stigmatization and discrimination (p=0.038). Age and gender were also found to show no statistically significant difference in the perception of the respondents, on stigmatization and discrimination against stutters, as both have a p-value of 0.051 and 0.551 respectively. In the light of the above results, the study advocates for the creation of an enabling environment, which affords stutters equal opportunities with their fluent-speaking peers
NON-OIL EXPORTS AND ECONOMIC GROWTH IN NIGERIA: AN EMPIRICAL ANALYSIS
Get PDFThis research utilizes yearly data from 1971 to 2021 to analyse the trajectory of non-oil exports and its impact on the economic growth of Nigeria. The analysis of the data was conducted utilising the Bayesian vector autoregressive model. The study's findings provide empirical evidence supporting the notion that non-oil exports have a positive and statistically significant impact on economic growth in Nigeria. For instance, the percentage rise in cocoa exports during the last year (QCXP (-1)) and the past two years (QCXP (-2)) resulted in a corresponding increase in GDP of around 0.12 percent and 0.39 percent, respectively. Furthermore, it is worth noting that the Gross Domestic Product (GDP) exhibited a growth of around 0.59 percent and 0.49 percent correspondingly subsequent to a one percent upsurge in palm kernel exports throughout the preceding one year (QPKX (-1)) and the preceding two years (QPKX (-2)). Moreover, the export of rubber in Nigeria has been found to have a notable and favourable influence on the country's economic growth. Specifically, a one percent increase in the quantity of rubber exported in the current and previous years (QRXP (-1) and QRXP (-2)) corresponds to about 13.1 percent and 7.9 percent increases in the Gross Domestic Product (GDP) of Nigeria, respectively. The findings indicate a 1% rise in EXRT (-1), while EXRT (-2) correspondingly led to a GDP growth of around 0.16% and 0.35% respectively. Based on the empirical evidence, it is strongly advised that the Nigerian government should enhance its endeavours in the cultivation and processing of cocoa, palm kernel, and rubber as a means to foster the holistic economic advancement of the nation
EMPIRICAL EVIDENCE FROM NIGERIA ON THE RELATIONSHIP BETWEEN INFLATION AND MANUFACTURING GROWTH
Get PDFThis research investigated the relationship between inflation and Nigerian manufacturing sector growth between 1981 and 2019, utilizing performance measures such as inflation rate, money supply, and gross domestic investment. The data was collected from secondary sources such as the Central Bank of Nigeria's Statistical Bulletin and the World Bank. The major finding is that in the short and long run, inflation and manufacturing sector growth are unrelated. Changes in Nigeria's inflation rate do not explain changes in the manufacturing sector's growth. The data also suggest that inflation does not assist producers with pricing power and that a fall in money supply has resulted in a decrease in manufacturing sector growth. The paper suggests that policymakers make huge investments in infrastructures that is insufficient, such as power supply and road networ
THE EFFECT OF JOB TENURE ON EMPLOYEE/CUSTOMER RELATIONSHIP IN THE NIGERIAN BANKING INDUSTRY
Get PDFDespite the fact that the banking industry is unrivalled in the development of any economy because it marshals funds from the surplus spending unit of the economy and makes the same available to the deficit units for the attainment of the economy's development goals, it is observed that the banking staff, who are agents or bedrock for the fulfilment of this goal, appears to be found lamenting over poor service delivery to her customers. The purpose of this study is to assess the influence of job tenure on employee/customer relationship in Nigerian banking industry. Survey research design was adopted for the study. The sample size was 333 employees selected from commercial banks in the study area through stratified random sampling technique. Questionnaire was used as instrument for data collection. Results of the analysis using one-way analysis of variance (ANOVA) test statistical techniques shows that, there is a positive significant influence of job tenure on employee/customer relationship in Nigerian banking industry. That is, there is a significant influence of organizational demography in terms of job tenure on performance in terms of employee/customer relationship in Nigeria banking industry. Based on the findings, the study recommended that, banks should encourage employees to stay on the job through motivation and incentives. This will enable them have relevant experience on the job and hence contribute to the growth and the achievement of the overall objectives of the banking sector. To this end, human resource administrators ought to be worried about characteristics and foundation of staff that best suit work position
COST OF GOVERNANCE AND ECONOMIC DEVELOPMENT IN NIGERIA: AN EMPIRICAL REVIEW
Get PDFThe inclination to achieve a desirable level of economic development becomes a task amidst sumptuous unscrupulous cost of governance in Nigeria. Government at different levels and policymakers have been working round the clock to improve people’s welfare and reduce poverty despite huge resources the country is blessed but still confronted with avoidable challenges not helpful but disastrous to the economy. This is not unconnected to channeling funds to unproductive activities which are not yielding rewarding outcome .Therefore ,this paper examined the connection between cost of governance and economic development in Nigeria .To unravel this linkage this paper considered annual data set in Nigeria from 1986 to 2020 .The data set was estimated using the Autoregressive Distributed Lag Model (ARDL) as a series is a mixture of 1(0) and I(1).The results showed that General administration had negative (-0.0852) and significant (5%) on economic development ; also, the National security has negative (-0.1815) and significant (5%) and governance effectiveness had negative (-5.2463) .However ,National Assembly is positive (0.3238) and significant (5%) to economic development .These results suggests that some unscrupulous government spending do not contribute to improving economic development and may increase the incidence of poverty order than reducing it. Therefore, governments at various levels and policymakers need to orientate and encourage public office holders especially the Law makers and government functionaries to focus more on projects that will stimulate economic development in the countr
ASSESSMENT OF FISH PRICE VOLATILITY IN NIGERIA
Get PDFBased on monthly pricing data from 1995 to 2015, this study analyzes price volatility in the Nigerian fish market. The exponential generalized autoregressive conditional heteroskedasticity (EGARCH) model was used to analyze the univariate volatility of the market. The fish supply market's long-term persistence of price volatility is an indication of a fundamental level of volatility over the course of the research period. The first-order autoregressive term's value was considerable for the fresh, frozen, and smoked fish markets, according to empirical findings. In comparison to fresh fish prices (-0.37) and smoke prices (-2.09), frozen fish prices (0.72) showed a greater persistence parameter. The three fish price variance models all contained large asymmetric terms. According to the study, increased strategic intervention is required for increased agricultural output and adequate fish stocks, particularly to balance out seasonal variations and time lags in the fish trade
CREDIT ACCESS BY COOPERATIVE WOMEN VEGETABLE FARMERS AND POVERTY REDUCTION IN AKINYELE LOCAL GOVERNMENT AREA, OYO STATE, NIGERIA
Get PDFCooperatives can help solve the problem of non-access to credit among women farmers, which limits their production and income levels with consequence of poverty. Therefore, the effect of cooperative women vegetable farmers’ credit access on poverty status in Akinyele Local Government Area of Oyo state, Nigeria was assessed in this study. Primary data were collected with the aid of a semi-structured questionnaire through a two-stage sampling technique. Three women cooperatives were chosen in the first stage and 150 cooperative vegetable farmers were randomly selected from the list of the three cooperatives. Data were analysed using descriptive statistics, FGT poverty measures and probit regression model. Average age of the women farmers was 44 years, household size was 6 persons, years of formal education was 7 years and farm size was 0.4 ha. Most (64%) women farmers accessed credit from their cooperatives. The poverty line was ₦2,271.57, while only 14% of the women farmers were poor. Credit access, education, farm income and savings reduced the probability of poverty among women cooperative farmers, while having primary occupation of farming increased it. The study concluded that access to credit among women vegetable farmers in cooperatives reduces poverty. Therefore, government policy on poverty reduction for women cooperative farmers should focus on increasing credit access, farm income, years of education and informal saving