JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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IMPACT OF MOTIVATION ON THE PRODUCTIVITY OF CEMENT COMPANY OF NORTHERN NIGERIA PLC, SOKOTO
Get PDFThis study examined the impact of motivation on the productivity of Cement Company of Northern Nigeria Plc, Sokoto. The data collected through questionnaire administered were presented and analyzed first using descriptive statistics such as frequency distribution, percentage as well as mean scores. Afterwards, a simple regression analysis was employed using the ordinary least square (OLS) method in estimating the linear relationship between staff motivation and productivity. Findings from the analysis revealed that the company adopts series of motivation activities on its teaming staff by increasing salaries, entitlement, annual leave, adequate medical attention, creative thinking and innovation, promotional prospect, good and cordial relationship with management. However, the impact of staff motivation was not significant enough to induce a meaningful improved productivity of the Company. Foregoing from the findings therefore, it was recommended that the company should put in place effective strategies to motivate the staff. This is because a well-motivated staff will have a high morale to do the work diligently thereby increasing productivity
EFFECT OF TRADE POLICY REGIME ON THE NEXUS BETWEEN FOREIGN CAPITAL INFLOWS ANDECONOMIC GROWTH IN NIGERIA
Get PDFIn this study, an examination is conducted on the link between trade policy regime and the nexus between foreign capital inflows and economic growth in Nigeria. The study adopted Autoregressive Distributed Lag (ARDL) estimation technique and interacted trade openness and foreign capital inflows to measure Bhagwati hypothesis in the Nigerian economy. The result revealed that in the long run, export promotion plays complementary roles with both official development assistance and foreign direct investment to effect a positive and significant change in the Nigerian economy. In the short run however, both official development assistance and foreign direct investment, as well as their interactions with trade policy regime are all insignificant. The study recommended that Nigeria should continue its policy of export promotion and with low interest rate and moderately encouraging exchange rate, more of foreign direct investment and official development assistance can be attracted into Nigeria in order to attain a better economic growth
ECOWAS ECONOMIC INTEGRATION AND ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM NIGERIA
Get PDFThis paper investigated the impact of regional economic integration on economic growth in Nigeria using the autoregressive distributed lag (ARDL) model for data analysis. The study analysed time series data from 1995 to 2018. The data analysed were collected on gross domestic product growth rate as the dependent variable, ECOWAS intra-trade (which proxied regional economic integration) and human capital (HK)- proxied by secondary school enrolment as independent variables. The empirical results revealed that ECOWAS intra-trade had a positive relationship with economic growth in Nigeria but failed to impact growth significantly as the coefficient of ECOWAS intra-trade failed to pass the significance test at both the 1 and 5 percent levels. The results further revealed that human capital was a growth determinant in Nigeria in the long run. The coefficient of its first lag was positive and passed the test of significance at the 5 percent level. The results of the study confirmed that Nigeria’s economy was yet to harness the much-expected benefits of regionalism. It is recommended that Nigeria should give export diversification and the development of essential industries the much-needed attention in order to enhance trade within the region. Also recommended is the need for Nigeria to intensify and formulate stable trade policies capable of promoting sustainable growth and development towards the growth of the ECOWAS’ Sub-region
LENDING RATE AND MANUFACTURING SECTOR GROWTH IN NIGERIA
Get PDFThis study examined the impact of lending rate on the growth of manufacturing sector in Nigeria from 1986 to 2020. The Ordinary Least Squares (OLS) estimation technique was employed for achieving the objectives of the study. The OLS analysis showed that there exists a positive and insignificant impact of lending rate on the growth of the manufacturing sector in Nigeria, indicating that lending rate does not impede the activities and the performances of the Nigerian manufacturing sector. It also revealed that there exists a negative and insignificant impact of inflation rate on the growth of the manufacturing sector in Nigeria. Based on the findings, the study recommended that Central Bank of Nigeria through its monetary policy should ensure that interest rate deregulation is frequently monitored and primarily tailored towards ensuring that the prevailing market lending rate provides opportunity for improved performance of the manufacturing sector, government should provide the essential and effective infrastructure facilities especially electricity supply, as the high cost of these infrastructural expenditure incurred by banks is passed on to borrowers and manufacturers through interest rate, among others were proffered
STRATEGIC PLAN FORMULATION PROCESS IN PUBLIC SERVICE ORGANISATIONS IN THE GAMBIA
Get PDFThe paper examined formal strategic plan formulation process, application of strategic analysis tools, and assessment of managerial and stakeholders’ involvement in 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, with a sample size of 211 senior public servants, using probability-proportionate-to-size sampling technique from the study population (1058). Data collected were analysed using descriptive statistics techniques such as frequencies, percentages, means and standard deviations with the help of SPSS software version 20. The results showed that, in the process of formulating formal strategic plans, PSOs determined their missions and visions, developed long-term objectives, assessed both internal and external environments, and generated and evaluated strategic choices. Equally, the findings indicated that PSOs made commitments to their strategic plans, did both internal and external validation of the strategic plans, and formulated strategic plans to accommodate the interests of diverse groups and individuals. The paper concluded that PSOs in The Gambia followed formalised strategy formulation process in developing their strategic plans with key elements included
AN EVALUATION OF A VALUE CHAIN APPROACH OF TECHNICAL EFFICIENCY OF RURAL ENTREPRENEURSHIP: A CASE STUDY OF JERKY BEEF (KILISHI) PRODUCTION IN KATSINA STATE, NIGERIA
Get PDFThis study is an attempt at an evaluation of the technical efficiency of rural enterprises in Katsina state, with focus on Jerky beef (Kilish) which is a diary delicacy produce in Northern Nigeria and exported around West African countries. In the course of the study, efforts have been put determine the efficiency level of rural entrepreneurship performance in the study area. To achieve the study objectives, samples were selected using sampling technique, whereby a total number of 540 respondents were utilized. A structured questionnaire was used as an instrument for the collection of the primary data. Survey of selected rural entrepreneurship activity of Jerky business owner was carried out using questionnaire and interview ddescriptive statistics and Data Envelopment Analysis techniques have been employed to analyse the data collected. The study findings show that despite the challenges faced by rural entrepreneurship in the study area, performance assessment revealed that rural entrepreneurship operated at 68.9%optimal level while they operated at 5.8% and 25.3% above optimal and below optimal level respectively. The study therefore recommended for intervention in the activities of the rural entrepreneurship, especially in the areas of capital/financing and seminars, business skill drill and provision of infrastructures such as water, electricity, roads and hospitals
INTERACTIONS BETWEEN HEALTH AND AGRICULTURAL OUTPUT ON ECONOMIC GROWTH IN NIGERIA
Get PDFThis paper examines the Interactions between health and agricultural output on economic growth in Nigeria using annual time series dataset spanning 1980 to 2018. Body mass index was proxied for health while the real Gross Domestic Product captures economic growth. The two stage Least Squares approach was adopted in the analysis after testing for unit root and cointegration among variables. Results indicate that the interactive variable was positively signed and statistically significant at a 5 percent level both physical and labour exert a significant positive impact on economic growth in Nigeria. Specifically, body mass index and agricultural output significantly spur economic growth. The paper recommends, amongst others, that government should strive a programme that will not only encourage agricultural output but also enhance the health facilities in the country at all levels. Government should increase allocation to health and agriculture sectors in the country for optimal performance of the economy.  
ANALYTICAL STRUCTURE OF NIGERIAN EURO-BOND UNDER SVENSSON’S MODEL
Get PDFThe term structure is a pointer to market expectations concerning interest rates through expected variations captured by the projected yield curve where the yield curve is a plot of the closing prices of bonds against their corresponding terms to maturity. This paper aims to forecast the term structure of interest rate on Nigerian Eurobond and then estimate the yield curve as a tool for the measurement of economic growth using the Svensson model to allow flexibility in the model to fit observed data. The statistical tool employed for the analysis of data collected are the Ordinary Least Square method, Spearman rho’s method and an adjusted for segmenting the data into four quarters with the aim of generating an aggregate yield curve to prove that the gradient of the yield curve, relative to its time to maturity moves proportionally and has a significant effect on the term structure. The approximating yield curve on Nigeria Euro-bond recommends that Nigerian regulatory authorities should monitor the operations of all financial institutions to hedge against uncertainties in the capital market prices which could discourage investors
FISCAL DECENTRALIZATION AND MACROECONOMIC STABILITY IN NIGERIA
Get PDFGiven the benefits of fiscal decentralization and the drive among developing and transition countries including Nigeria to decentralize their expenditures and revenues to sub-national government as part of a broader objective for enhancing public sector efficiency, this study examined fiscal decentralization and macroeconomic stability in Nigeria. The Vector Autoregressive (VAR) model is used along with Johanson’s Vector Error Correction Model (VECM) for the empirics. The co-integration results revealed that, the maximum Eigenvalue statistic confirmed the existence of co-integrating equations among the variables of interest. This suggested the tendency of a long run relationship among the variables under consideration. The VAR result indicated that the one lagged period of macroeconomic variable is not a driver of economic growth as it coefficient exhibits negatives values and not statistically significant. The VECM result indicated that there will be long run relation among the variables under consideration. The empirical result went further to show that, fiscal decentralization has not encouraged macroeconomic stability that has significantly led to economic growth in Nigeria. The study therefore recommends the need for practical devolution of fiscal responsibility especially in the areas of revenue assignment
COVID-19 LOCKDOWN AND PRICE, AVAILABILITY, ACCESSIBILITY AND AFFORDABILITY OF RICE IN AKURE METROPOLIS, ONDO STATE, NIGERIA
Get PDFThis paper assessed the effect of covid-19 lockdown on price of rice before, during and after covid-19 lockdown and examined the effect of the lockdown on price, availability and accessibility of rice in Akure Metropolis. Survey design, multistage sampling (proportionate stratified, purposive and random sampling) technique were used to select respondents from four major markets within Akure Metropolis. Structured questionnaire and personal interview were used to collect data. Data were analyzed with descriptive statistic. Hypothesis was tested with Analysis of Variance. The study revealed a significant difference in the price of rice before and after the lockdown, the price of rice went up by 31.25% when the COVID-19 lockdown started, continued to be high for about four months after the lockdown and went down thereafter due to relaxed mobility, reduction in transportation cost and low purchasing power. The paper recommends an intensive government policy decision, strategies and plans to help reduce the effect of pandemic on the price of rice and make rice to be readily affordable, reachable and available during any pandemic in Ondo State in particular and Nigeria in general with the aim of preventing food insecurity and attaining food sustainability