JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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COST AND RETURN ANALYSIS OF IRISH POTATO PRODUCTION IN TWO LOCAL GOVERNMENT AREAS OF PLATEAU STATE
Get PDFRoot and tuber production has occupied an important position in the farming system of the Guinea savannah in the north - central States of Nigeria. The increasing demand for Irish Potato as food, the medicinal importance, its income and employment generation possibilities during the wet season have stimulated the need for increasing its production. This paper examines the cost and returns of Irish Potato production and identified the constraints associated with its production. A sample of 120 small-scale farmers was purposively selected from Bokkos and Riyom local government areas (LGAs) of Plateau State (that is, 60 farmers were selected from each local government). Data was obtained from these farmers through the administration of structured questionnaire and oral interviews. The analysis of the collected data was done using descriptive statistics and budgeting technique. The cost and return analysis indicated that the cost of fertilizer (3.875.15/ha), seed (N2.395.50) and weeding (N1,948.50/ha) accounted for 30% of the total variable cost incurred in Irish potato production. It was also found that Irish potato production was highly profitable as indicated by a net income of N3,676.07/ha. Despite the high profit margin, farmers were confronted with problems of high cost of labour, inadequate funds to sustain production, security challenges in the area, poor marketing channel outlets, high cost of inputs, and poor information network
DISTORTED ELECTRICITY SUPPLY AND THE PROFITABILITY OF SMALL AND MEDIUM SCALE ENTERPRISES: A SURVEY OF SELECTED INHABITANTS IN SOUTHWEST NIGERIAN STATES
Get PDFElectricity is a significant component of virtually all enterprise production processes. Hence, distorted or uncertain electricity supply has potential effects on the economic activities of firms, directly or indirectly; as it hinders business growth and development. This study examined the effect of distorted electricity supply on the profitability of small and medium scale enterprises in southwest, Nigeria. The population of the study consisted of two hundred and eighty five (285) employees and owners of nine (9) different enterprises in southwest Nigeria. A ramdom sampling technique was used to select 277 respondents for the study. The correlation coefficient and simple regression analysis techniques were used to analyze the responses from the respondents. Findings from the study showed that effective power supply (EPS) exhibited a significant positive impact on the profitability of business enterprises and the cost of maintaining mechanical generators (KHZ) as an alternative source of power has a negative effect on the profitability of the enterprises. The study concluded that power supply has a significant influence on the profitability of SMEs in Nigeria. It recommended that government at all levels should formulate policies that would encourage effective power supply in other to boost productivity of the SMEs and increase profitability
EFFECT OF MALARIA INCIDENCE AND MALARIA CONTROL ON HEALTH OUTCOME AND HUMAN CAPITAL DEVELOPMENT IN NIGERIA: AN ECONOMETRIC ANALYSIS
Get PDFThe study examined the effect of malaria incidence and malaria control on health outcome and human capital development in Nigeria for the period of 1991 to 2017. The Vector Error Correction Model (VECM) was employed for analyzing the objectives of the study which include to examine the effect of malaria incidence on adult mortality rate, under-five mortality rate, and human per capita income in Nigeria, and to examine the effect of malaria control on malaria incidence in Nigeria. The findings of the study revealed that Nigeria among other African nations is yet to fully achieve the objective of reducing the burden of malaria and effectively controlling the prevalence of malaria, thereby improving on positive health outcomes and sustainable national development, as the VECM analysis of empirical results showed that malaria incidence had a positive but minimal effect on adult mortality rate by 0.5%, under-five mortality rate by 0.8%, and human per capita income by 40%. It also showed that malaria control which consists of children receiving anti-malarial drugs, government health expenditure, and insecticide-treated bed nets (ITNs) had a positive but poor effect on reducing the prevalence of malaria in Nigeria. As a result, the study recommends that the current National Malaria Control Programme (NMCP) should be strengthened and given more impetus in order to effectively control and combat malaria, the federal government of Nigeria should give major priority to the health sector in terms of spending as this will increase the provision of health facilities, storage facilities, and provision of appropriate anti-malarial medicines that will aid in controlling and reducing malaria incidence in Nigeria, among others were proffered
EMPIRICAL INVESTIGATION OF INDIRECT TAXES AND ECONOMIC GROWTH IN NIGERIA
Get PDFThis study empirically investigate the impact of indirect tax and value added tax on economic growth in Nigeria. The data for the study were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin, Organisation for Economic Cooperation and Development (OECD) website, Nigerian Customs Service and Federal Inland Revenue Service. The empirical result revealed statistically insignificant but negative relationship between indirect tax and real GDP. Also the study revealed statistically insignificant but positive relationship between VAT and real GDP. This study therefore recommend that government should put in place necessary measures and policy to improve the real GDP, so that tax base can increase, which would lead to increase in revenue to the government to perform her objectives. To achieve this government need to create an environment that is business friendly. Government also need to encourage entrepreneurship in the economy, by doing so, the tax base would also increase and revenues accruing to government would also increase
FOREIGN DIRECT INVESTMENT AND OUTPUT PERFORMANCE: EVIDENCE FROM NIGERIA
No full text This study investigates the effects of FDI on the output of goods and services in Nigeria between 1981 and 2018.The research developed a structural macroeconometric model consisting of output sector block. The model deploys 7 simultaneous equations to capture the required proxies. The research adopted a three-stage least squares (3SLS) technique and macroeconometric model of simultaneous equations to capture the disaggregated impact of FDI on the output sector of the economy. The study found that FDI has positive effect on components of output sector like agriculture, manufacturing, oil and gas building and construction, retails and services sector. The finding shows that although FDI has a significant impact on the components of the output sector but the growth effects of FDI differ across variables. This indicates that a proper and coordinated flow of FDI to this sector would provide employment, raw materials for the industrial sector and foreign exchange earnings for the economy which would improve the country’s balance of payments. The study recommends that government should provide favourable environment for FDI inflow so that goods produced can replace imports of goods and services; this will provide employment and curb the balance of payments disequilibriu
EFFECTS OF CRUDE BIRTH RATE ON ECONOMIC GROWTH IN NIGERIA
Get PDFThis paper explores Nigeria's crude birth rate relationship with her economic growth based on time-series information spanning 1970 to 2019, sourced from the Nigerian Bureau of Statistics, the Central Bank, the World Bank and other relevant agencies.The variables adopted unit roots and cointegration while the two-stage least squares (2SLS) estimation technique was adopted in the analysis. They were all of order one and the result showed a cointegration among them. The 2SLS results showed significant positive relationships between crude birth rate and per-capita income, while an inverse relationship was found to exist between literacy rate and crude birth rate. Results also showed that literacy rate and total labour participation spurred the per capita income of Nigeria. And the paper concludes that the literacy rate is an important policy instrument that can lower the birth rate and raise per capita income in Nigeria
COMMERCIAL BANK CREDIT TO MICRO, SMALL, AND MEDIUM ENTERPRISES (MSMES) AND ECONOMIC GROWTH IN NIGERIA
Get PDFThe study assessed commercial bank credit to Micro, Small, and Medium Enterprises (MSMEs) and economic growth in Nigeria. Particularly, it empirically assessed the causal relationship between commercial bank credit to this category of entrepreneurs and economic growth in the country spanning the period of 1992 to 2020. To do this, the study used the Toda-Yamamoto (T-Y) procedure. Using gross national product as proxy for economic growth and total commercial bank credit to MSMEs, findings from the T-Y estimation revealed that there was no causal relationship between commercial bank credit to MSMEs and economic growth in Nigeria for the period under analysis. It concludes that commercial bank credit to these entrepreneurs was inadequate to spur growth. To reverse this, the study recommends that commercial banks should extend more funds to MSMEs, while also providing them with long-term and sound credit risk management and business development services to boost their growth enhancing effects on the economy
CREDIT RISK MANAGEMENT AND DEPOSIT MONEY BANKS’ PERFORMANCE IN NIGERIA
Get PDFThis study examines the impact of credit risk management on the performance of commercial banks in Nigeria. This is necessitated by the growing concern on how loans have exposed banks to the greatest level of risk. The scope of this study covers the period of 2012 – 2019; and is limited to the following credit risk management variables such as; non-performing loans, loan loss provision and liquidity ratio. The study used secondary sources of data obtained from published annual reports of selected commercial banks and adopted panel data regression analytical model in the analysis of collected data. The results of the analysis show that credit risk management has a significant impact on the performance of commercial banks in Nigeria. Therefore, based on the findings of the study it is pertinent that management of deposit money banks carefully assess the risks inherent in the loan applications before approval. The study recommends that banks should maintain minimum level of non-performing loans; maintain stable liquidity rate; and maintain an appropriate level of loan loss provision that would enhance return on assets and strengthen their financial performance
SIMULATING THE ECONOMIC AND WELFARE IMPACTS OF THE NEW MINIMUM WAGE USING A CGE MODEL
Get PDFThis study investigates the economic and welfare impacts of increasing the minimum wage using a static computable general equilibrium (CGE) model calibrated with Nigeria’s updated 2013 social accounting matrix (SAM). The results show that increasing the minimum wage leads to decrease in the demand for labour in most sectors, supporting conventional theory on the impact of minimum wage increase. The results further show that increasing the minimum wage leads to rise in household income, driven by increase in labour income, but the increase in household income is overridden by increase in consumer prices (inflationary pressure), such that the consumption budget of households decline, implying a welfare loss. The welfare loss is higher for urban households than rural households. Lastly, the minimum wage increase results in lower real GDP, suggesting negative impact on the aggregate economy. The study notes that the negative impact of minimum wage increase on labour demand, household welfare and real GDP, is to some extent, mitigated if the government adjusts its expenditure to accommodate the increase
CROP PRODUCTION AND EXPORT DIVERSIFICATION IN NIGERIA
Get PDFThis research work examined the crop production and export diversification in Nigeria for the period of 1985 to 2019. Data were collected from secondary sources of Central Bank of Nigeria Statistical Bulletin, National Bureau of Statistics, and World Bank Development Indicator. The specific objective of the study is to examine the trends of Crop Production and Export Diversification and to determine the significance of Crop Production and Export Diversification in Nigeria. The study is hinged on theory of International Trade. The study employed Augmented Dickey-Fuller unit test, Johansen Co integration test and Ordinary Least Square technique to test the hypothesis. The result revealed that Fertilize Consumption, Agricultural machinery and tractor, Government expenditure on Agriculture exhibit a positive effect and significant relationship on export diversification in Nigeria while crop production and labor in agriculture exert a negative effect and significant relationship on export diversification. Based on the result, the study recommended among others that agricultural policy should be purpose driven towards the achievement of export diversification. This can be achieved by employing selective-sectoral agricultural policy measures in accelerating investment in various non-oil sectors of the economy