JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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TRADE OPENNESS AND INDUSTRIAL OUTPUT GROWTH IN NIGERIA
Get PDFThe study assessed trade openness and industrial output growth in Nigeria spanning the period of 1986 to 2019. Using the new trade theory as theoretical premise, the study sought to determine the whether trade openness causes industrial output growth in Nigeria. To do this, the study used the Toda-Yamamoto (T-Y) causality procedure. Using Nigeria’s industrial output as proxy for industrial output growth and trade-to-GDP ratio as proxy for trade openness, findings from the T-Y estimation revealed that there was no causal relationship between trade openness and industrial output growth in the country. Thus, the study concluded that trade openness did not cause industrial output growth in Nigeria for the period under analysis. To ensure that trade openness leads to industrial output growth, the study recommends that trade in the country would have to be further opened up so as to allow for import discipline which would drive competition and promote the growth of Nigeria’s industrial secto
ACCESS TO ELECTRICITY AND ECONOMIC GROWTH IN SUB-SAHARAN AFRICA: IS THERE AN ENERGY-GROWTH NEXUS?
Get PDFAccording to the World Bank, there are 600 million people who do not have access to stable electricity supply in sub-Saharan Africa. Stable electricity is important to increase the productivity of artisans, and other micro, small and medium enterprises, improve yields and storage capacities of producers and farmers which results in economic growth, and generally improve the well-being of the people in the society. This study attempts to find out the type of relationship which exist between access to electricity and economic growth in sub-Saharan Africa using panel data from thirty (30) countries covering the period 1997 to 2017. As a preliminary check, panel unit roots test was conducted to confirm the stability of the series so as to avoid spurious results. The results confirm that all the variables are stationary at order I(1) while panel co-integration tests suggest the existence of long-run relationships among the variables. The regression results of the random effects model and the Fully Modified Ordinary Least Squares (FMOLS) indicate a negative and significant relationship between access to electricity and economic growth while the other control variables used in the study except the GFCF/GDP variable were significant and correctly signed in accordance with a priori expectation. It is recommended that the governments of sub-Saharan African countries should formulate and implement appropriate policies that would increase electricity generation in their countries in order to propel economic growth and improve the standard of living of their citizens while international development agencies and the World Bank should direct their interventions to the provision of stable electricity supply in the sub-region
ECONOMIC GROWTH AND ELECTRICITY GENERATION IN NIGERIA
Get PDFEnergy supply is the major source of growth for any economy in the world today. Human economies are therefore motivated to refining and harnessing energetic resources in order to have a stable electricity generation in Nigeria. The study therefore examined the impact of the relevant factors that could affect electricity generation in Nigeria within the period 1970-2018. In order to capture the objective of this work, the study used auto regressive distributed lag model (ARDL) approach. The ARDL is employed in the study in order to capture the long-run and short-run changes in the variables used. The study found significant and direct relationship between price of electricity, economic growth, installed capacity and electricity generation in Nigeria. Also found in the results is the inverse relationship between annual rainfall, gas consumption and electricity
generation in the long-run. The result also showed a good forecasting performance of the model. The study therefore recommended the use of installed capacity, price of electricity, electricity consumed, and economic growth as these could enable increase in electricity generation in Nigeria. In addition to these, hydroelectricity power station should be located where there is sufficient rainfall to enable the hydroelectricity function to its full capacity
ENERGY AND INDUSTRIAL PRODUCTIVITY IN NIGERIA: A DISAGGREGATED CASE
Get PDFEnergy has been seen as a major driver, and pivotal to industrial productivity as well as economic growth. But, the extent to which this is true within the Nigerian context is unascertainable due to the challenges the sector faces. Stemming from this, this study empirically examined the influence of energy, and industrial productivity in Nigeria between the periods of 1981 to 2018. In addition to the aggregate energy supply, the Energy variable was disaggregated into; petroleum, electricity natural gas, coal consumption, and energy (electricity) prices. Data collected were analysed with descriptive statistics, correlation analysis, unit root, and co-integration tests as well as the Error Correction Model (ECM). The estimated results revealed the existence of a positive relationship between petroleum consumption, coal consumption, energy price, physical capital stock, and industrial output. Coal, energy price and physical capital tend to significantly impact industrial output. However, an inverse relationship exists between industrial output, Natural gas, electricity, and human capital. On the whole, following the inconsistencies in the nature of relationship between industrial output, and some of the disaggregated energy products, the overall impact of energy components cannot be predetermined. Consequently, the study therefore recommends among others the adoption of sectorial-based energy policies in favour of the variables that significantly impact industrial output growth in matters bothering on energy and growth
IMPACT OF LAND BORDER CLOSURE ON DOMESTIC PRODUCTION IN NIGERIA
Get PDFThis study examines the impact of land border closure on domestic production in Nigeria from 1981 to 2019. The study sourced for the data on GDP (Proxy for domestic production), Import, Export, Trade Openness and Market Capitalization used for this study from the central bank of Nigeria. The data were analyzed with the aid of vector error correction model after testing for unit root and cointegration respectively. The results of the analysis revealed that export has positive and significant relationship with the GDP of Nigeria while import, trade openness and market capitalization all have negative impact on Nigeria’s GDP. The study recommends among others that Nigerian government should strengthen trade restriction policies and support firms involved in export manufacturing commodities
ECONOMIC ANALYSIS OF INIMICAL RELIGIOUS ACTIVITIES IN NIGERIA
Get PDFThe impact of the activities of different types of religion such as Christianity, Islam and African Traditional Religion in Nigeria is enormous and should not be over looked. The study aimed at exploring some of the effects of the activities of aforementioned different types of religion in the Nigerian Economy. The study adopts a qualitative phenomenological research design and descriptive method for data analysis. Personal interview forms a primary source of data collection while the secondary source includes library resources. The study reveals that, Government neglects, oppression, domination, exploitation, victimization, discrimination, marginalization, nepotism and bigotry are some of the causes of religious violence in Nigeria. The study also identified poverty, corruption, non-implementation of previous probe panel reports, impunity of past perpetrators of the violence, proliferation of preachers and worship centres, provocative and inciting utterances, sensational journalism, political manipulation of religion, incitement in the social media and mobile telephone among others as key causes of religious violence in northern Nigeria. The study also notes that, the effects of these inimical activates of these religions are enormous in the Nigerian economy, where in addition to the gratuities killing and maiming of thousands of persons, properties worth billions of naira have been destroyed. Certainly, these huge losses have deprived the nation of needed manpower and services for the growth of its wobbling economy. The study recommends among other things that Nigeria should consider her diverse cultures as a blessing and live in peace with each other irrespective of religious denomination to ensure peaceful and a healthy nation, since a healthy nation is a wealthy nation. 
DECARBONIZING NIGERIA’S ENERGY MIX: THE ROLE OF RENEWABLE ENERGY CONSUMPTION
Get PDFThis study examines the effect of carbon emission from non- renewable energy sources on renewable energy consumption in Nigeria. The augmented Dickey–Fuller test was used to tests for unit root problem and possible cointegration of the variables. With evidence of cointegration, the Fully Modified Ordinary Least Squares approach which was designed by Philips and Hansen in 1990 was employed. This method adjusts the leasts squares to account for serial correlation and possible endogeneity problem, which arises, when using the standard Ordinary Least Squares approach with non-stationary series. Logarithmic transformations were made, with the model transformed into a double log model. The raw data for the analysis were all sourced from World Bank World Development Index 2019. The result shows a positive relationship between Trade openness, Co2 emission from non-renewable sources and renewable energy consumption, with the variables being significant at 5% level. The coefficient value of (0.1949) for Co2 shows that a percentage increase in Co2 emission from non-renewable sources of energy, increases renewable energy consumption by just 19% of total energy use. The study found also, that a negative relationship exists between urban population, oil rent, GDP per capita and renewable energy consumption and are significant at 5% level except for oil rent which is not statistically significant. The study recommends, the need to intensify awareness and encourage government and private individuals to consider embracing alternative clean energy sources. That will be a right move in the drive to achieve the Sustainable Development Goals 7(affordable and clean energy) and 13(climate action)
ENVIRONMENTAL DETERMINANTS OF AUDIT QUALITY IN NIGERIA
Get PDFPrior to the COVID-19 pandemic ravaging the world economy, investors generally had suffered substantial financial losses on returns and investment. The underlying factor from this originated from the various financial scandals associated with audit failures globally. This situation now calls for additional sources of information that world enhance the quality of audit and prevent or at most minimise audit failure. This study therefore investigated the key factors that influences audit quality within the auditor’s working environment. The study adopted survey research design. Purposive sampling techniques was adopted in selecting 110 auditors. An adopted structured questionnaire was used to collect data validated using Cronbach alpha with coefficient of construct 0.917 for 34 items. Analysis of the data revealed that top management support and availability of budget are the most important predictors of audit quality (Adj. R2=0.429, F (7,101) =10.850, p= 0.000). The study recommended that top management in both private and public sector should provide the requisite support to the auditors in other to boost their independence and confidence towards enhancing audit quality
FACTORS INFLUENCING LEVEL OF PARTICIPATION IN WOMEN-IN-AGRICULTUREAND YOUTH EMPOWERMENT (WAYE) PROGAMME BY IRISH POTATO PRODUCTION FARMERS INPLATEAU STATE, NIGERIA
Get PDFIn Nigeria, Irish potato production has enhanced food availability, reduction in rural poverty and unemployment, agro-industrial and socio-economic growth in the country. The increasing demand for Irish potato as food, industrial raw materials, income and employment generation has stimulated the need for increased in its production. This paper examines factors influencing the level of participation in Women-in-Agriculture and Youth Empowerment (WAYE) programme by Irish potato farmers in Plateau State, Nigeria. Multi-stage sampling procedure was used to select 200 registered Irish potato farmers. Data were obtained through a well-structured questionnaire. Descriptive statistics and tobit regression model were employed for data analysis. The results on level of participation revealed that about 31% and 39% (70%) of the participating WAYE farmers had participating index ranging from 0.61 – 0.80 and 0.81 – 1.00 respectively. The mean index value for the participating farmers in these categories was 0.68 and 0.81 respectively while the standard deviation was 0.023 and 0.021 respectively. The results of tobit regression analysis revealed that the coefficients of the variables such as age, household-size, farm size, farming experience, credit amount, cooperative associations and extension contact were found to influence the level of participation in the WAYE programme. High cost of labour, delay in input supply, insecurity of farmers and poor marketing of produce were among the constraints limiting Irish potato production in the area. It was therefore recommended that government agencies should make timely distribution of farm inputs to farmers at affordable prices
SOCIO-ECONOMIC FACTORS AND PERFORMANCE OF MICRO, SMALL AND MEDIUM ENTERPRISES IN ABIA STATE
Get PDFThe general purpose of this study is to examine the influence of socio-economic factors on the performance of micro and small enterprises in Abia State. The study used both primary sources of data. The population of the study comprised of 315 micro and small enterprises in the selected Local Government Areas in Abia State and Taro Yamane formula was used to arrive at a sample size of 176. The study used regression analytical technique to analyze the effect of socio-economic factors on the performance of micro and small enterprises in Abia State. The empirical result reveals that socio-economic factors have significant influence on the performance of micro and small enterprises in Abia State at 5% level of significance. The study recommends that micro and small scale enterprises need to continuously monitor their environment that they operate in, understanding that the ethics, social norms, traditional values and practices and cultural diversity is important to the performance and survival of the business