JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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PRODUCT AND SERVICE DEVELOPMENT IN THE CUSTOMERS’ QUALITY: EVIDENCE FROM SELECTED NIGERIAN COMMERCIAL BANKS
Get PDFConvectional practice of business organisations seeking profits have necessitated unending search for continuous customers’ needs and desires. This study sets to examine the effect product and service development on customers’ quality in the selected Nigerian commercial banks. The study adopted cross-sectional survey, through administration of structured questionnaire of six-point Likert scale among selected banks, with sample size of 1,490 customers using Watson formula and response rate of 90.2% (1,344). Reliability and validation of items/constructs range between 0.75-0.85 as Cronbach-Alpha coefficient. Data collection was analysed using regression analysis. Findings showed that there is a positive significant effect of product and service development on customer quality of the selected Nigerian commercial banks (β = .725, t= 28.480, p<0.05). Descriptive analysis indicated that banks practising product and service development are more productive by improving customers’ satisfaction and organizational profitability. Customer quality identifies needs for creating product and service development ultimately desired by the bank customers and enhances process and systematic provisions of it. The study recommended that commercial banks should strategically employ technique of customer quality in an attempt to provide desired product and service development for customers
HEALTH EXPENDITURE AND ECONOMIC GROWTH NEXUS IN NIGERIA: DOES INSTITUTIONAL QUALITY MATTER?
Get PDFInstitutional quality is considered to be a determining factor in enhancing the growth of any economy. This paper examines the role of institutional quality in growth enhancement and the precise role it plays through the channel of health expenditure. The ARDL model was employed between the period of 1984 and 2019 to ascertain the link between the variables in question. The paper provides evidence that the long-run effects of health expenditure and institutional quality on economic growth are both surprisingly negative, but with only institutional quality having a statistically significant relationship. Further findings reveal that the institutional quality moderates the effect of health expenditure on growth. Specifically, when institutional quality is maintained at a threshold of 0.52 level, growth will be at least positive. This means that, with institutional quality at less than the threshold level, the economic growth will become negative. However, with the right policies in place as recommended, there could be a turn in events
EXCHANGE RATE DYNAMICS AND AGRICULTURAL SECTOR PERFORMANCE IN NIGERIA: AN ARDL APPROACH
Get PDFThe study investigates the responsiveness of the agricultural real sector to dynamics in exchange rate in Nigeria from 1986-2019. Data used for the study were sourced from Central Bank of Nigeria Statistical Bulletin and World Bank Indicator, (2019). The study adopts Augmented Dicky Fuller and Phillips Peron (PP) to test for unit root and where the result of the unit root was not clear, the co-integration test was conducted, findings revealed that only the variables in the impact model showed existence of long run relationship. The study revealed that some variables were stationary at level while some became stationary after first difference. The Auto Regressive Distributed Lag model was used to estimate the impact of exchange rate dynamics on Agricultural output performance in Nigeria. Findings revealed that exchange rate exerts negative impact on crop production in Nigeria only in the short run. Total rainfall, bank loan to agricultural sector, consumer price impact significantly on agricultural output in the long run but in the short run, only total rainfall and consumer price index exert significant impact on agricultural output in Nigeria. The study recommends that Central Bank of Nigeria should adopt managed exchange rate such that exchange rate does not exceed required threshold to ease flow of goods and services in the economy. The Central Bank of Nigeria should design stringent policies to increase commercial bank loans to agricultural sector in order to curb the adverse consequences of the exchange rate volatility on crop and fishery output in Nigeria
ECONOMIC ANALYSIS OF POULTRY EGG PRODUCTION IN KWARA STATE, NIGERIA
Get PDFThis study centred on the economic analysis of poultry egg production in Kwara State,Nigeria. The cost and returns to egg production, technical efficiency of egg producing farms and as well, the constraints to poultry egg production in the study area were analyzed. Data collected (using questionnaire), from 119 poultry farmers randomly selected from the lists obtained from Kwara State Ministry of Agriculture & Rural Development, was analyzed using descriptive statistics, gross margin, rate of returns, stochastic frontier production function and likert type scale. The findings indicated that 33.6% is the modal age for the respondents which ranges between 36-45years. Male farmers were found to dominate the eggs production business with a percentage of 66.4%. The Gross Margin was N33, 368.82 per month. The Rate of Return to eggs production was estimated at 25.94%. Maximum Likelihood Estimate of the stochastic frontier model shows that variables like farm size, veterinary services and labour were positively and statistically significant at 1% level.. The mean technical efficiency was estimated at 0.43. It is therefore recommended that Nigeria government should assist poultry farmers through policies that will enhance productivity growth and increase production efficiency. In addition, extension service should be given higher priority
ROOT TUBERS EXPANSION PRORAMME (RTEP) AND QUALITY OF PRODUCTS OF MICRO-SCALE CASSAVA PROCESSORS IN OYO STATE NIGERIA
Get PDFHigh unemployment and poverty rate have become alarming over the world especially in Sub-Saharan Africa. Consequently, several poverty alleviation and employment generation programmes have been implemented by Nigerian governments. Root Tubers Expansion Programme (RTEP) is one of such programmes. Past researches have been carried out on challenges and effect of RTEP’s technologies on farmers’ productivity and poverty alleviation, but no indebt research on effect of RTEP on micro-scale cassava processors’ (MSCPs) products’ quality. This research intends to close this gap by assessing the effect of RTEP on the quality of MSCPs’ products. Survey design was used for the study, and the MSCPs were selected with multistage sampling technique. Data from 151 respondents were gathered with structured questionnaire and analysed with descriptive statistic. Hypothesis was tested with t-test at 5% significant level. The level of significance of .000 respectively which were lower than the table value of 0.05 were obtained from the t-test meaning there was a significant difference in MSCPs products’ quality before and after partaking in RTEP. The paper recommends the implementation of more integrative poverty alleviation and employment generation programmes to improve the MSCPs products’ quality and make them more competitive in local and world markets
ASSESSING INFLATION TARGETING IN NIGERIA: AN APPLICATION OF BAYESIAN ESTIMATED MODEL
Get PDFInflation targeting (IT) is the band at which consumer price index is permitted to fluctuate,ensures price stability and economic growth sustainability. This paper concentrates mainlyon the IT aspects of the Dynamic Stochastic General Equilibrium Model (DSGEM) usingBayesian estimation technique, to evaluate the effectiveness of Inflation targeting of theBank (CBN), at both the theoretical and empirical levels and as policy ingredient. Thequestion of whether adopting IT makes a difference in the fight against inflation wasaddressed. The results of the analyses show that domestic and foreign demand shocks arethe most influential factor in affecting domestic variables in Nigeria. Nigerian inflation,however, appears to be most sensitive to domestic supply, money supply, interest rate shocksand nominal exchange rate shocks. Lastly, the findings indicate that the impact of domesticmonetary policy shocks appears to be moderat
THE INFLUENCE OF RISING POPULATION ON POVERTY AND UNEMPLOYMENT IN NIGERIA
Get PDFThis work studies the influence of rising population on Poverty and Unemployment in Nigeria using Autoregressive Distributed Lag Bounds (ARDL) approach on annual data from 1980-2018. It explores the dynamic relationship between population growth and selected macroeconomic variables of economic growth, poverty, and unemployment as well as the direction of causality between them. The study also found that population growth and its components exerts a negative impact on the overall economic conditions in Nigeria. It was recommended that there should be an intervention by the government and NGOs by way of sensitizing the public on the importance and benefits of having a reduced number of children, by providing better policies to encourage investment and saving and providing an enabling environment that will help curb high fertility rate, thus leading to a decline in dependency ratio and poverty
THE 2004 BANKING SECTOR REFORMS IN NIGERIA AND FUNDING CHALLENGES TO SMES: SHARING THE CULPABILITY BETWEEN LENDERS AND BORROWERS
Get PDFThe beginning of Nigeria’s Fourth Republic in 1999 was characterized by reforms that led to the overhaul of both public and private sectors of the economy under the NEEDS programme. While the Nigerian banks have improved in performance and operations following the 2004 reforms, the effect has not been felt significantly by the Small and Medium scale Enterprises (SMEs). The study examined both internal and external factors constraining SMEs’ access to bank loan. We relied on the qualitative data collected through primary sources such as interviews, and secondary sources such as scholarly works, official documents, and media reports; and were analyzed descriptively. The study revealed that high interest rates have adverse effects on the SMEs. Also, the study found among others that circumvention of banks by most SMEs in their business and financial transactions is a barrier to accessing bank loans. We recommended inter alia that the CBN should review lending rates to SMEs with a view to ensuring that loan rates, moratorium and loan tenure are complementary and designed to support business profitability, continuity and expansion while comprehensive enlightenment programmes should be developed to educate SME operators on the critical need to use banks for their business and financial transactions
DO RETURNS ON HUMAN CAPITAL IMPROVE NIGERIAN ECONOMY? EVIDENCE FROM INTELLECTUAL CAPITAL AND PROPERTY
Get PDFThis study sets out to investigate if returns on human capital improves the Nigerian economy from 1990 to 2019. Return on human capital herein is proxied as returns on intellectual capital (RITC) and intellectual property (RIPR). Two specific objectives and hypotheses guided the study. Relevant data were sourced from the statistical bulletin of Central Bank of Nigeria and World Bank. The logic of our method of study is drawn from Paul’s Romer Growth and human capital theories as we employ Autoregressive Distributive Lag (ARDL) and residual diagnostic methods for data analysis. The results reveal that RITC makes significant improvement on RGDP, but RIPR fails to do same. This implies that the two measures of human capital do not have the same effect on the Nigerian economy. On this basis, we conclude that returns on intellectual capital are more significant in improving the Nigerian economy than returns on intellectual property. Consequently, we recommend, among others, that the government should protect peoples’ intellectual property by strengthening and reviving the institutions saddled with such responsibilities to sustain and increase the fight against piracy. 
