JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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INDUSTRIALISATION AND INDUSTRIAL OUTPUT NEXUS IN NIGERIA: A NEW EMPIRICAL EVIDENCE
Get PDFInfant industry protection is a common trend in Africa with the main aim of encouraging local industries to gain economies of scale. However, the result of this trend has not been shown in the industraliastion process of African countries, especially Nigeria. The article used Generalised Least Square (GLS) with time series analysis from 1987-2022. The results showed that tariffs had a low effect in protecting the infant industry in Nigeria. Tariff needs to change at the rate of 0.068 unit to bring about a unit change in industrial output. The research recommended a policy mix as a more viable policy option. Indigenisation policy should be combined with other infant industry protection policies such as production subsidy, import monopoly, imposition of embargo, exchange control, import quota, import license and preferential duties to achieve the desired industrialised economy
ENERGY CONSUMPTION, CO2 EMISSION AND POPULATION HEALTH IN SUB-SAHARAN AFRICA
Get PDFThis study examined the relationship between energy consumption, CO2 emission and population health in 13 SSA countries from 1982 to 2014 based on data availability. Two health measures including under five mortality rate and life expectancy at birth were employed. A granger causality test was conducted after estimating a panel VAR model. Variance decomposition analysis and the impulse response function were used to examine the dynamic interactions among the variables and the effect of shocks. The neutrality hypothesis was found between under five mortality and total energy consumption. However, decomposing energy, a unidirectional causality was found from under five mortality to electricity consumption. There was a unidirectional causality from life expectancy to fossil fuel consumption based on a joint significance. Fossil fuel consumption shocks had a negative impact on life expectancy and greatest impact on CO2 emission. Thus, policies towards improving life expectancy should target a reduction in fossil fuel demand through empowerment strategies and incentives to encourage a substantial transition to electricity consumption
FIRMS’ CAPABILITY DYNAMICS AND CONTAINER CLEARANCE LOGISTICS AT LAGOS SEAPORTS
Get PDFThe majority of prior studies on clearance logistics at seaports revolve around the fundamental assumption that customs and other authorities should be responsible for improving seaport clearance operations. Contrary to this assumption, this study investigates the relationship between firms dynamics (age of the business and employee work experience) and the extent of delays experienced by firm during container clearance at Lagos seaports. The article employed primary data that was gathered using structured and unstructured questionnaire. The study’s population consists of 43 manufacturing companies that are publicly quoted on the Nigerian Stock Exchange (NSE) list continuously for more than ten years. These companies are located in Ilupeju, Agbara, Ewekoro, Ikeja, Ikorodu, Isolo, and Shagamu, which are the major industrial estates in Lagos and Ogun States, Nigeria. Out of the 43 firms sampled, only 23 of them filled out and returned the questionnaire. This number makes up 53% of the sample size. A Spearman's Rank-Order Correlation was used in analyzing the data. The findings suggest that the more experience an employee has in cargo clearance; the less likely it is that the container would be delayed for fewer days (or a shorter period of time). Additionally, it was discovered that as an organization gets older, the likelihood of delays during container clearance decreases. Thus, this paper suggests that customs and import operations personnel should get ongoing training to stay current on current and upcoming innovations in container clearance in seaports. Furthermore, analysis of strengths, weaknesses, opportunities, and threats should be a regular activity for organizations.
 
REVISITING FOREIGN DIRECT INVESTMENT - ECONOMIC GROWTH NEXUS IN NIGERIA: AN ARDL APPROACH
Get PDFThis article aims to examine the relationship between foreign direct investment (FDI) and economic growth in Nigeria. The study investigates the relationship between economic growth (GDP), foreign direct investment (FDI), gross fixed capital formation (K), total labour force (L) and, exchange rate (RER). This paper employs annual time series data covering 1990 up to 2020. Utilizing the auto-regressive distributed lag (ARDL) model, the existence of long-run relationship between the independent and dependent variables was found. Additionally, we conducted the granger causality test to determine the direction of causality. The ARDL bounds testing result shows that labor has a long-term negative impact on economic growth, with foreign direct investment, exchange rates, and capital having a positive influence. The empirical findings from a pair-wise Granger-causality model showed the existence of a bidirectional relationship between FDI and economic growth. Based on our findings, we further suggest that the government should pursue a strategy to attract FDI by enhancing Nigeria's business climate, environment, and infrastructure. To increase investor trust, the government should continue to execute sensible policies through the central bank with a goal of achieving stable exchange rates. Additionally, through enhanced educational policy, the government should aim to improve human capital and skilled workforce in the nation
INSECURITY AND ECONOMIC DEVELOPMENT IN NIGERIA
Get PDFInsecurity is one of the key issues in Nigeria as it affects all sectors of the economy there by hindering the desired progress in the country. This paper sets out to investigate the effect of insecurity on economic development in Nigeria from 1996 to 2021 using structural vector autoregressive (SVAR) model. The properties of the time series data were first checked by conducting the unit root tests, namely the Augmented Dickey Fuller (ADF) and Phillips Perron (PP) tests with a view to avoiding spurious regression. The results of unit root tests with trend and intercept indicate that the series are stationary at first difference. The results of the impulse response functions from the SVAR model and variance decomposition reveal that the response of insecurity to a one-unit standard deviation shock to economic development is negative and hence, insignificant; the results from variance decomposition reveal that insecurity accounts for more than 50% variations of economic development in Nigeria. Based on these results, the paper recommends that appropriate measures should be taken by the government to tackle the level of insecurity in the country. This can be achieved by intensifying efforts towards beeping up security by providing the security operatives in the country adequately with the required logistics to curb the menace
SERVICE QUALITY IN HOTELS: UNDERSTANDING CUSTOMERS' PERCEPTIONS FOR IMPROVED GUEST SATISFACTION
Get PDFThe study aims to explore the perceptions of service quality among hotel customers in Abuja, Nigeria. Data was collected using a self-administered questionnaire. A total of 413 hotel customers from various hotels in Abuja participated in the study, through a convenient sampling. Descriptive statistics and regression analysis were used with SPSS Version 24 to analyze the data. The findings revealed that hotel customers in Abuja place a high value on service quality, and their perceptions of service quality are influenced by various factors such as staff competence, responsiveness, reliability, empathy, and tangibles. The study also highlights the importance of addressing customer complaints and providing personalized services to enhance guest satisfaction. The study recommends that hotel managers in Abuja should prioritize service quality as a critical factor for improving guest satisfaction and, ultimately, the hotel's overall performance.
 
ROLE OF ECONOMIC INTEGRATION IN NATIONAL DEVELOPMENT: NIGERIA’S EXPERIENCE
Get PDFRegional organizations have generally grown as a consequence of internal and external push in growing nations, particularly those that are devoted to regional economic integration. This came about as a result of the notion that certain obstacles needed to be removed for their nations to advance. Global growth in development cooperation has also been spurred by the anticipated advantages of regional cooperation for trade and economic development, notably the advantages of economies of scale and expertise brought about through commerce. Thus, this paper examined the significance of economic integration to the development of Nigeria. The study gave credence to the concepts of economic integration, the need for economic integration, economic integration and the Nigeria economic development, and Nigeria’s readiness to fully leverage on integration. Data was collected from published academic articles. Based on the data reviewed, it was concluded that economic integration significantly contributed the development of Nigeria, making it a crucial first step in realizing its full economic potential. Despite this, however, it was revealed that Nigeria is not fully ready for full economic integration. It was, therefore, recommended that for integration to fully benefit the nation, the private sector's productivity growth must be increased. Also, to fully reap the tangible opportunities of regional integration, the country would require a strong collaboration of reforms and programs that set it up for international commerc
ANGEL INVESTING AND ENTREPRENEURIAL PERFORMANCE IN NIGERIA
Get PDFMany young people are becoming more innovative and have creative business ideas. Unfortunately, for new ventures, securing funding is often hard because of inadequate information between entrepreneurs and capital suppliers and partly because these entrepreneurs may have little business experience. As a result, different working relationships and contractual measures are used to deal with agency problems and to help the venture realize its potentials for value creation. The objectives of this study were to determine the extent to which new ventures have access to angel investors and to ascertain how angel investing can enhance the performance of new ventures in Nigeria. The studies used judgemental and convenience sampling techniques in selecting fifty (50) business owners in Calabar metropolis. Primary data were obtained with the aid of questionnaire. A 5-point Likert scale questionnaire, ranging from strongly agree to strongly disagree was developed. The study surveyed only the owners or managers of the selected firms. The analysis revealed that most entrepreneurs are not familiar with angel investing. Most of the entrepreneurs were not knowledgeable on the role of angel investors neither do they personally know some angel investors. The findings of the research suggest that most of the entrepreneurs in Cross River State are novice on the concept of Angel Investing. Based on the findings, it was recommended amongst others that more enlightenment should be created on angel investing for emerging entrepreneur
FISCAL POLICY CONVERGENCE IN THE WEST AFRICAN MONETARY ZONE
Get PDFThis study examines the convergence of fiscal policy in the West African Monetary Zone (WAMZ) using annual panel data between 2001-2020 in a log t regression convergence model. The findings reveal compelling evidence of divergences across the four fiscal policy instruments (tax revenue, expenditure, deficit and debt), with the largest divergences in debt (-4.32) and expenditure (-3.39) policies. In view of its findings, the study proposes a multiple fiscal rule regime to accommodate the idiosyncrasies of member states; and advocates the introduction of non-binding tax and expenditure rules to complement the existing deficit and public debt rules, and enable a more complete evaluation of fiscal policy performance and compliance within the zon
MEASLES OUTBREAKS AND UNDER-FIVE MORTALITY IN NIGERIA: ISSUES AND POLICY OPTIONS
Get PDFNigeria’s under-five mortality is one of the highest in Sub-Saharan Africa region comparatively. Perhaps this is related to the rising outbreaks of measles. Therefore, this study investigated the effect of measles outbreaks on under-five mortality in Nigeria between 1986 and 2021. Findings from the co-integration technique employed shows a positive effect of measles outbreaks on under-five deaths in Nigeria. Based on the results of the findings, the study recommends need for government at all levels, stake-holders in the private sectors and NGOs to focus on reducing measles attacks on under-five children by promoting children related health policies and vaccinations that will halt the menace of under-five deaths in Nigeria