JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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RAPID POPULATION GROWTH AND ECONOMIC DEVELOPMENT ISSUES IN NIGERIA
Get PDFThe study examined rapid population growth and economic development issues in Nigeria. This is on the premise that Nigeria has a rapidly growing population forecasted to be about 400 million in 2050, with a very high proportion of youths. The country has struggled against demographic tide since independence, and there are widening gaps in poverty, unemployment, and inequality which are factors elevating the country’s under-development. The study adopted an ex-post facto research design and, obtained secondary data from the publications of the Central Bank of Nigeria, the National Bureau of Statistics, and the World Bank. Descriptive and Analytical statistics tools wereused to analyze the data. The findings of the study revealed thatpopulation, remittances, gross domestic product, and unemployment negatively and significantly affect the Human Development Index in Nigeria, while foreign direct investment and effective governance exerteda positive and significant effect. So, the study makes the following recommendations; Nigeria must control its rapidly growing population by formulating and implementing population and economic policies that are supportive of all-inclusive economic growth. The high rate of youth employment should be checked by developing skills set through quality education, improved health care, and vocational training for the youths
STRATEGIC PLANS IMPLEMENTATION AND EVALUATION IN PUBLIC SERVICE ORGANISATIONS IN THE GAMBIA
Get PDFThe paper assessed strategic plans implementation procedures and evaluation processes of public service organisations (PSOs) in The Gambia. The study adopted “cross-sectional survey design”, through the administration of structured questionnaire of five-point Likert scale among the selected PSOs. A sample size of 211 respondents, representing 20% of the sample frame were selected for the administration of copies of questionnaire using probability proportional-to-size sampling technique. Two hundred and three (203) copies of questionnaire were retrieved from field, representing 96.2% of the total number of questionnaire administered in the study. The study established that PSOs formulated formal strategic plans, and followed formalised strategy implementation procedures and evaluation processes. The results of the study found evidence of strategic plans implementation and evaluation practices for public service delivery (PSD) in the sampled PSOs in The Gambia. The findings concluded that the selected PSOs had current strategic plans that contained essential components of a viable strategic plan and they had a track record of implementing and evaluating strategic plans in PSD
OIL REVENUE AND ECONOMIC GROWTH IN NIGERIA: AN EMPIRICAL ANALYSIS
Get PDF This research work was projected to investigate the impact of oil revenue on economic growth of Nigeria between 1981 and 2019. Ex – post facto research design was carried out; annual time series data for analysis were sourced from Central Bank of Nigeria Statistical Bulletin of 2019. Real Gross Domestic Product (RGDP) was used as the dependent variable proxy for economic growth. Oil Revenue, Foreign Direct Investment (FDI) and Exchange Rate (EXR) all represent explanatory variables. The study employed Auto Regressive Distributed Lag (OLS) Model which was used to analyzed and estimate the coefficients of the parameters. Other diagnostic tests employed by this study include; unit root test, descriptive statistics, correlation coefficient matrix, Cointegration test and test of Normality, and they confirmed the validity and reliability of the model used; the inferential results showed that oil revenue impacted positively and significantly on the economic growth of Nigeria within the period under review. The paper recommended strongly that Government should diversify the economy from oil dependent economy to agriculture and manufacturing driven economy, this will provide alternative source of revenue to the government for adequate funding of annual national budget. Adherence to the recommendations will reduce the over reliance on oil revenue and thereby stabilizing the econom
INCOME INEQUALITY AND ECONOMIC DEVELOPMENT IN NIGERIA: AN EMPIRICAL ASSESSMENT
Get PDFThe study examined the impact of income inequality on economic development in Nigeria for the period of 1989 to 2020. The specific objectives were to examine if gini coefficient has a significant impact on per capita income in Nigeria, to ascertain if poverty rate has a significant impact on per capita income in Nigeria and to determine if inflation rate has a significant impact on per capita income in Nigeria. The study made use of quantitative research design which involved the use of secondary method of data collection. The data collected was analyzed through multiple linear regression. The findings revealed that income inequality as proxied by gini coefficient and poverty rate has a negative and significant impact on per capita income, while inflation rate has a negative but insignificant impact on per capita income in Nigeria. It is therefore recommended that government should direct its policies and programs towards measures that enhance income redistribution, as this would reduce the level of inequality and ensure an even distribution of income; government should keep the rising inflation rate at single digit, while creation of government’s social investment program should be encouraged to capture more unemployed people, so as to enhance the availability of income on every household and citizen of Nigeria, among others were proffered
HARNESSING THE POTENTIALS OF OIL PALM INVESTMENTS TO ALLEVIATE THE RISK OF THE DWINDLING NIGERIAN ECONOMY. A CASE OF SOUTHEAST
Get PDFOil palm (Elaeis guineensis) is an indigenous tropical rainforest crop with little savannah belt. Great potentials exist for increasing the production, productivity and investment level of oil palm in Nigeria and globally. It is one of the best agricultural investments because great benefits are obtained from every part of it and it is most important food and economic oil crops in Nigeria and the world at large as wealth is generated from every part of the plant. The present economic downturn of the country due to policy diversion from agriculture to crude oil, the long - term rate of returns to investment and land tenure problems led to this study to ascertain the potentials of oil palm investments. An exploratory research design was adopted and secondary data was obtained from the review of literature of oil palm investments as to harness the potentials to alleviate the risk of the dwindling economy. This could be achieved through income diversification by bringing oil palm investment to the centre stage through investing in the planting of hybrid tenera which have been proven to mature early and produces more than the existing Dura and Pisifera species providing more foods, raw materials, income and employment generation and other uses including research and development for a sustainable and stable economy. Policies must be made by government to favour oil palm investment through expansion of secure land acquisition, distribution of tenera hybrid at a subsidized rate to investors and involve partnership with producers and other agencies
REVISITING CULTURAL ELEMENTS INFLUENCING INTERNATIONAL BUSINESS PRACTICES
Get PDFInternational business deals not only cross borders but also across cultures. Culture profoundly influences how people think, communicate, behave and transact. This paper is aimed at revisiting the concepts of cultural elements that influence international business and looking at the theoretical and practical implications. This paper adopts a Methodology of documentary analysis and a review of the relevant literature. The paper recommends that Business executives should create cultural awareness, retaining their identity and develop a sense of cultural heterogeneity and synergy. And also accept culture as common as individual differences that are instrumental in minimizing cultural differences in international business encounters
CORPORATE SOCIAL RESPONSIBILITY AND TAX AGGRESSIVENESS IN NIGERIA QUOTED COMPANIES
Get PDFThe study examined the effect of corporate social responsibility on tax aggressiveness in Nigeria quoted companies. The study adopted Ex-Post-facto method with extensive reliance on secondary data sourced from the annual reports of thirty-five (35) manufacturing firms quoted on the floor of Nigerian Stock Exchange for the period of 2011-2019. Both statistical and econometric tools were employed in the analysis. The study showed that corporate social responsibility has a positive and significant relationship with tax aggressiveness proxied by effective tax rate in Nigerian manufacturing firms. It was also discovered that community development has a negative effect on tax aggressiveness proxied by effective tax rate in Nigeria manufacturing firms. Also, Social and political engagement has negative effect on effective tax rate in Nigerian sampled manufacturing firms. Hence, the study recommends that manufacturing companies in Nigeria should engage more in corporate social responsibility by giving more to their community where the firm domicile and their country at large. As firms with these characteristics have strong relationship with effective tax rate, which will in turn enhance and improve the confidence of their investors
PUBLIC EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA: A NON-LINEAR ANALYSIS
Get PDFAs an emerging economy, Nigeria needs to have an optimal public expenditure and thus, efficiently allocate its scarce resources to attain a high growth rate. This will only be possible by estimating the optimum size of government expenditure, hence compare it with the actual size and implement some policy measures accordingly.. Explicitly, the paper was conceived to determine the level of government expenditure that can be denoted as being able to promote the growth of Nigerian economy, Smooth Transition Regression (STR) model was employed to help accomplished the objective of the study.The findings from the estimate revealed that the association between public expenditure and economic improvement in Nigeria possesses some element of nonlinearity with a threshold value of N1, 212,832,925,742.03 which is the threshold value of public expenditure that can be ruled as capable of improving the Nigerian economy, and that public expenditure is above the optimal level. However, public expenditure was found to exhibit a positive and significant impact on economic growth in both directions. Nigeria needs to have optimal public expenditure and thus, efficiently allocate its scarce resources between the public and private use to attain a high growth rate. This will only be possible by estimating the optimum size of government expenditure, henceforth, compare it to actual size and implement some policy measures accordingly. However, there are few studies, if any; that tries to undertake such analysis using smooth transition regression (STR) model which could best pinpoint the needed information in that relation
THE IMPLICATIONS OF FREE TRADE AREA FOR POVERTY, HOUSEHOLD WELFARE AND ECONOMIC DEVELOMENT IN NIGERIA
Get PDFReducingPoverty and increasing household welfare remain among the major socio-economic problems confronting most developing countries especially sub-Sahara Africans which demand policy measures to tackle it. The relevance for free trade area as one of the economic policies to promote welfare and reduce poverty among nations is gaining momentum globally especially the continent of Africa. Given the paucity of studies on this area, the study was undertaken as a framework to determine what the implications of free trade areas will be within the African continent. To achieve this, a fully modified least squares (FMOLS) regression technique was employed to estimate time series data drawn from central bank statistical bulletin spanning the period 1991 to 2017. Econometric view statistical software version 7 was used. Study revealed that free trade scenarios contributed positively to the welfare of individual as well leading to reduction of unemployment. It is recommended based on findings, that policy makers should focus more on policies that will promote foreign direct investment, export contributions to growth and simplification of trade regulations so as to further improve on the positive gains of free trade area on the households’ welfare, and poverty in Nigeri