JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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IMPACT OF HERDSMEN-FARMERS’ CONFLICT ON SMALL OFF-FARM BUSINESSES IN BENUE STATE
Get PDFThe advent of Herdsmen-farmers’ conflict has resulted to severe violence which is a serious threat to human security and development of our society. This persistent conflict has affected the capacity of households, firms and government to accurately carry out economic activities necessary for human existence. In Benue State, households have continued to grapple with economic instability resulting from incessant clash between herdsmen and farmers. Consequently many households have lost many members and means of livelihood. This study assesses the implications of this persistent violence on households’ small off-farm businesses in Benue State. The data for this study was primary, gotten from structured questionnaire which was administered to 384 households that were affected by herdsmen-farmers’ conflict in Benue State. The sample covered farmers that engaged in small off-farm businesses and were affected by herdsmen-farmers’ conflict. The data were analysed with the use of frequency tables, simple percentages, t-test and logit regression model. The study revealed that, herdsmen-farmers’ conflict has a significant negative impact on small off farm businesses in Benue State. The study recommended that government should revisit the existing 1964 grazing reserves act and 1978 land tenure act so as to accommodate land ownership, usage and control by farmers and herders. The study also recommended that, government should provide access to finance for farm households, whose small off farm businesses were destroyed due to herdsmen-farmers’ conflict to rebuild their businesses wherever they are
IMPACT OF PACKAGING ELEMENTS ON CONSUMER IMPULSE BUYING BEHAVIOR: A CASE STUDY OF INDOMIE NOODLE IN KADUNA METROPOLIS
Get PDF Impulse buying is mostly from extrinsic factors which lure customers into unplanned buying. This study aims at analyzing the Impact of packaging on Consumer impulse buying Behavior focusing on the four elements of packaging which are; size and shape as well as color and logo. Using multiple regression model, the study finds that; shape and size of packaging have positive and significant effect or relationship on consumer impulse buying behavior. More so, color and logo have positive and significant relationship or effect on consumer impulse behavior. It is based on these findings that the study recommends; that producers of goods should pay more attention to color and logo as it brings about more turnover which will in turn yield more profit to the firm. Companies should lay more emphasis to their product through designs of good product package. More research should be employed by companies in the designing of color and logo, as well as shape and size of their products because of their positive effect on the consumer impulse buying behavior. Bonuses and incentives should be accorded to the department involve in the designing of shapes and sizes as well as color and logo of a product as this will bring about a healthy competition between the employees in such department
FORECASTING NIGERIA’S INFLATION USING SARIMA MODELING
Get PDFInflation series exhibit trend or seasonality that makes it difficult to analyze the inflationary pressures for monetary policy decision making. It is imperative to note that few empirical studies have tilted towards addressing the seasonality issues to track the sources responsible for these fluctuations. It is against this background that the study aims at developing a model of inflation with higher data points and taking into cognizance its periodic seasonal component and use the estimated model to make forecast. The study used monthly data sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin. Data was analysed using seasonal ARIMA model (SARIMA) which is an extension of autoregressive (AR) and moving average (MA) process in the popular Box-Jenkins methodology. With 300 data points, the study developed SARIMA (1,0,0) x (1,1,0)12 from among the competing models based on its AIC and BIC values. The estimated model is found to be adequate in making forecast using a sample data for 2019. The study thus recommends that monetary authorities should consider the seasonal component in designing monetary policies targeted at inflation to stabilize the economy
SAVINGS AND ECONOMIC GROWTH CAUSALITY IN NIGERIA
Get PDFThis study examines savings and economic growth causality in Nigeria. The specific objectives are to investigate the long-run two-way cause and effect relationship between gross domestic savings, gross capital formation as proxy for investment and per capita income as proxy for economic growth in Nigeria. The data covered the period of 1981 to 2019. Unit root test for stationarity and Johansen cointegration test to ascertain long run equilibrium relationship were conducted; the study employed correlation matrix to examine the strength of the relationship and vector error correction granger causality/block erogeneity wald test with Schwarz information criterion to evaluate the direction of the relationship among the variables. The results of the study revealed that the variable in the model became stationary at their first difference, the appropriate lag for the variables is seven (7) and the cointegration result indicates that there exists a long run equilibrium relationship among the variables in the model. The correlation matrix shows that there is strong positive relationship between gross domestic savings and economic growth and also strong positive correlation between gross domestic savings and gross capital formation which served as proxy for investment. Although, the correlation between gross capital formation and per capita income is positive but it is moderate and Granger causality result revealed that, there is bidirectional relationship between the variables of interest in this study. The study thus, recommends that, an optimal stabilization policy would guarantee a dynamic long run relation between savings, investment and economic growth in Nigeria
A DISAGGREGATED ANALYSIS OF THE EFFECT OF DOMESTIC PUBLIC DEBT ON ECONOMIC GROWTH IN NIGERIA
Get PDFThe study examines the relationship between disaggregated domestic public debt and economic growth in Nigeria for the period 2007Q1 to 2020Q2. Secondary data is obtained from the Central Bank of Nigeria Statistical Bulletin and Debt Management Office Quarterly Domestic Debt Reports as well as National Bureau of Statistics Quarterly Reports. The study uses Gross Domestic Product (GDP) as the dependent variable to measure the Nigerian economic growth; whereas, banking sector debt, non-bank public debt and Central Bank of Nigeria debt - ways and means advances as the independent variables. Three hypotheses were tested using time series econometrics models. The result reveals that there is a long-run equilibrium relationship between banking sector debt, non-bank public debt, Central Bank of Nigeria debt - ways and means advances and GDP. The result also indicates that while banking sector and non-bank public debt have statistically positive significant effect on economic growth, the Central Bank of Nigeria debt - ways and means advances has a negative but significant effect on growth in Nigeria. Thus, the study recommends that that the Government should give more priority to banking sector and non-bank public debt in funding budget deficit and that borrowing from the CBN by the Government should be restricted to refinancing of maturities only. 
WELFARE EFFECTS OF ELETRICITY AND PETROL PRICE HIKE ON URBAN HOUSEHOLDS IN BENUE STATE
Get PDFThis study examines the welfare effects of electricity and petrol price hike on urban households in Benue state. The Marshallian demand theory and the theory of utility were utilized. A three-stage sampling approach was used to obtain data from 384 urban households using a survey research design. For data analysis, the researchers employed Seemingly Unrelated Regression (SUR) and Compensating Variation (CV). The study found that both economic and social factors influence demand for electricity and petrol, and that increases in the prices of the energy goods (electricity and petrol) had negative impact on urban households' welfare in Benue State. The study recommends better supply distribution channel of electricity and petrol through public-private partnership and that government should ensure stable prices and supply of the two energy products over a long period of time
ENERGY CONSUMPTION AND MANUFACTURINGOUTPUT IN NIGERIA
Get PDFThe paper examined the relationship among electricity (ELECT), gas (GAS), coal (COAL), premium motor spirit (PMS) and manufacturing output (MOT) in Nigeria using the annual time series data spanning from 1981 to 2019 by employing the Autoregressive Distributed Lags (ARDL) Model application to cointegration and Error Correction Model techniques. Unit root test was conducted on all the variables of interest in the study. The study finds evidence that electricity and premium motor spirit have a positive, significant and dynamic impact on manufacturing output in Nigeria. Furthermore, gas consumption has positive but not significant effect on manufacturing output in Nigeria. In addition, the study reveals that there is long run relationship among electricity, gas, coal, premium motor spirit and manufacturing output in Nigeria. The finding of this study has implications for energy policy as policy makers and economic planners need to formulate and implement policies aimed at conserving energy use, improving energy efficiency and designing energy demand management. In the same vein, another policy implication with respect to the findings of the study is that, stimulating power generation through gas, which constitutes one of the components of power generation mix in Nigeria will help in addressing a lot of our macroeconomic problems because it will unequivocally enhance and improve the manufacturing sector with much needed electricity supply. The study recommends among others the adoption of energy consumption policies in favour of the variables that significantly impact manufacturing output as this will invariably enable the manufacturing sector access the needed power to improve their capacity and productivity in Nigeria
CO2 EMISSIONS, TEMPERATURE CHANGES, PRODUCTIVITY AND LABOUR SUPPLY: NEW EMPIRICAL EVIDENCE FROM FARMERS IN NIGERIA
Get PDFTemperature changes, variability in the climatic conditions of Nigeria is putting agriculture under serious food security and production under serious treat. Studying these changes in temperature and co2 emission has very critical to the Nigerian agricultural sector. Robust OLS model and Cointegration techniques were used to analyse the study objectives using time series data and interesting results were found in the course of the analysis. We found that the impact of temperature changes and that of rainfall on agricultural productivity in Nigeria is positive. Further results showed labour supply and CO2 emissions has significant and positive impacts on agricultural output in Nigeria. It is recommended that the government should provide adequate support to farmers in Nigeria by building irrigation systems to boost production especially during the dry seasons when rainfall is very rare. Agricultural innovations and technologies are encouraged so as to regulate climatic changes
CHALLENGES OF REWARDS SYSTEM ON EMPLOYEES’ PERFORMANCE IN THE NIGERIA CIVIL SERVICE: EMPIRICAL EVIDENCE FROM THE LAGOS STATE CIVIL SERVICE, NIGERIA
Get PDFRewards play an important role in boosting employees’ performances in an organisation. The management of a rewards system has the potency of stimulating the interest of the employees and directing them towards accomplishing organisational goals. Despite the recognition and implementation of the rewards system in the civil service, employees’ performances have been highly criticized. Data were gathered from 275 respondents across the ministries in Civil Service through the use of questionnaire as well as the conduct of interview session. The findings revealed that leadership style, government policies, inability to pay, inadequate training, rewards strategies, bargaining power of trade union and strict organisational culture were challenges affecting effective management of rewards system. This study concluded that the administration of rewards system in the Nigerian public service has been poorly managed as it has been highly characterised by rewarding loyalty, nepotism, favouritism and godfatherism. This study therefore recommended a well-structured inclusive mechanism to encourage employee’s participation in the service