JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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SSESSMENT OF OIL PRICE, EXCHANGE RATE AND ECONOMIC DEVELOPMENT IN NIGERIA: A GOAL PROGRAMMING OPTIMIZATION APPROACH
Full text linkThere appears to be no consensus on many empirical studies (predominantly domestic studies) on the relationship between oil price, exchange rate and economic (Growth) development, hence the need to assess using the mathematical tool of goal programming to assess oil price, exchange rate and economic development. The decision variable of the goal programming analysis was generated firstly from the 10-years average of oil price, exchange rate and economic development. While oil price aspirational target of was attainable from the mathematical analysis conducted, that of economic development proxied by Human Development Index (HDI) target of 0.60 was found to be unattainable with margin of deviation of approximately 50%. Substitution of the respective deviations of the three constraints gave a non-zero objective function which suggest that the oil price, exchange rate and economic development goal programming analysis is not optimized. The study therefore recommended that government should as a matter of urgency double down on its oil exploration potentials by strengthen its institution to curb the menace of crude oil theft, revamp oil refinery to minimize incessant exchange rate pressure, diversifying the economy so as to mitigate rising unemployment and inflation rate and finally develop a pragmatic exchange rate regime that suite the economic peculiarities of Nigeria given the economy’s weak international trade competitiveness. This will ensure efficient and proactive trickle-down effect of proceed of oil endowment on socio-economic indicators and other near proxy of economic development
ANALYSIS OF PUBLIC HEALTH SPENDING, PER CAPITA INCOME AND LIFE EXPECTANCY AT BIRTH IN NIGERIA
Full text linkLiving a healthy, earning a living income and long-life have been a general concern in Nigeria hence, the increasing government expenditure on health. This study investigates the individual effect of public health spending, and per capita income on life expectancy rate in Nigeria. Nigeria’s life expectancy is still low when compared to the world due to the insufficient government spending on health. In addition, the Nigeria populace lack adequate income for improved nutrition and healthy lifestyle. The study employs the Auto-Regressive Distributed Lag (ARDL) technique based on the unit root test result that found all variables integrated at level and first difference. The ARDL bounds test statistic of about 17.384 indicate that a significant long-term relationship exists among the variables of the study. The ARDL long- term result indicate that increase in per capita income and government funding to the health sector can resort to rising life expectancy at birth in Nigeria to about 0.146% and 0.0056% respectively. The study concludes that life expectancy at birth will improve with the increase in per capita income likewise, the rise in public health expenditure, leading to a sustainable growth in output. The study recommends that more percentage of the national budget should be channel to funding the health sector in Nigeria- construction of new healthcare facilities having 24/7 electricity supply in the rural areas. The government of Nigeria should raise per capita income such that the people of Nigeria can afford better nutrition
IMPACT OF EXTERNAL DEBT ON ECONOMIC GROWTH IN NIGERIA: THE MODERATING ROLE OF INSTITUTIONAL QUALITY
Full text linkThis research examines the impact of external debt on Nigeria’s economic growth between 1986 and 2024, with a specific focus on the role of institutional quality. The analysis carried out with the Fully Modified Least Squares (FMOLS) method indicates that both external debt and debt servicing are linked with slower growth. However, the relationship is not statistically significant. In simple terms, borrowing alone does not guarantee improved economic performance. On the other hand, institutional quality exerts a clear and significant positive impact on economic growth, indicating that good governance, effective legal systems, and reduced corruption are central to long-term development. Government capital expenditure also appears to support economic growth, but its effect is weak and statistically insignificant, which may reflect the challenges in turning investments into real growth. Notably, the interaction between external debt and institutional quality is positive and significant, indicating that robust institutions can offset the growth-limiting effects of debt. Overall, the findings highlight that external debt can only be beneficial if backed up with strong institutions and prudent resource management. Based on this, the study recommends that Nigeria focus on improving institutional frameworks, enhancing the effectiveness of investments, and managing debt wisely to foster sustainable economic growth
STRATEGIC MANAGEMENT AND ORGANIZATIONAL PRODUCTIVITY IN SELECTED TERTIARY INSTITUTIONS IN CROSS RIVER STATE
Full text linkThe dynamics in environment have imposed the need for leaders to adopt innovative ideas to create unique services that would bring about sustainability in the academic environment. Effective adoption of strategic management practice in tertiary institutions is without ease, the issue of absence of commitment of leaders to strategic planning, evaluation and implementation constitutes hindrance to productivity of tertiary institutions. This study sought to examine the impact of strategic management on organizational productivity in selected tertiary institutions in Cross River State. It critically examined the extent to which strategic planning, evaluation and implementation serves as enablers to innovative governance in the institutions. The strategic planning theory was adopted to guide the study. Simple random sampling technique was adopted and a sample size of 355 respondents was determined using Taro Yamane formula. A structured questionnaire was developed, validated and tested for reliability using test-retest. Data from the questionnaire was analyzed using simple percentages, while the chi-square was used in testing the hypotheses at 0.05 level of significance. Findings revealed that strategic planning helps to guide educational development with common vision and share priorities which enhanced productivity in tertiary institutions. Also, strategic evaluation helps to effectively measure changes in the educational plan, and better governance decisions are implemented based on predetermined objectives of the institutions. It was recommended that management of tertiary institutions should continuously use strategic planning to determine the needed policies that would guide educational development based on vision, to ensure that academic goals are successfully achieved
DOES NET FOREIGN ASSETS AND EXCHANGE RATE HAVE THRESHOLD EFFECT ON BALANCE OF TRADE IN NIGERIA?
Full text linkThis study adopted an ex post facto research design in the analysis of NFA, REER and TB datasets sourced from secondary sources from 1982 to 2023. The technique used to check for the extent to which net foreign assets, real effective exchange rate and interest rate affect trade balance and GDP growth rate is threshold analysis. The result revealed that a linear threshold effect between TB and GDP growth rate when REER is either greater or less than #207.5, NFA is either greater or less than 9492.4, and RIR is either greater or less than 4.59 per cent in Nigeria that is what occurs at the lower regime also occur at the higher regime. Between NFA and GDP growth rate, there is also a negative linear threshold effect when RIR is either greater or less than 4.59 per cent and non-linear threshold effect exist between NFA and GDP growth rate when REER is either greater or less than #207.5, same as with REER and GDP growth rate. Therefore, it is recommended that policymakers should adopt differential policy approaches to address economic challenges. Policies tailored to specific economic regimes can help mitigate structural breaks and promote stability in key macroeconomic indicators. Finally, policymakers should prioritize strategies to optimize NFA management. This may involve diversifying foreign asset portfolios, attracting long-term foreign investments, and enhancing capital inflows to support economic growth and mitigate structural breaks in the relationship between NFA and GDP growt
EXPLORING THE EFFECT OF PREPAID ELECTRICITY SERVICES ON ECONOMIC GROWTH IN NIGERIA
Full text linkThe use of lights measured from space to proxy for economic activity drives home the importance of electricity for economic growth and development. Access to safe, cheap and convenient electricity services is important to socio-economic growth and development. The study examined the effects of prepaid electricity services on economic growth in Nigeria Quarterly time series data ranging from 2007Q1 to 2023Q4, obtained from the Central Bank of Nigeria (CBN) and National Bureau of Statistic (NBS) statistical bulletin. The variables in the model include gross domestic product (GDP) as the dependent variable while electricity generation (EG), electricity consumption per household (ECH) and consumer price index of electricity (CPIE) were captured in the model as the explanatory variables. The study employed autoregressive distributed lag (ARDL) model to analyze the time series data. It was found that electricity generation, electricity consumption per household and consumer price index of electricity has a long run impact on gross domestic product. Finding from the study revealed that electricity generation (EG), prepaid electricity generated income (PGI), electricity consumption per household (ECPH) and consumer price index to electricity (CPIE) were statistically significant. In view of the findings, the study recommends that power holding company of Nigeria should install more prepaid meters under prepaid billing system. This will help to control appropriation of electricity in a better way than traditional metering; also, government should encourage investment in generation capacity expansion by engaging into power generation mix through the harnessing of other renewable energy resource such as solar and wind power which is currently not fully exploited
COOPERATIVE SOCIETIES AND PROMOTION OF SUSTAINABLE DEVELOPMENT IN SOUTHWEST NIGERIA
Full text linkThis study explored the role of Cooperative Societies in fostering sustainable development in Southwest Nigeria, with emphasis on their contributions to poverty reduction and community development. Despite various policy efforts, the region still faces significant socio-economic challenges, such as high poverty levels and social inequalities. Cooperative societies, known for their potential to address these issues, are underutilized due to inadequate funding and poor management. Data were collected from 384 cooperative members across the six state capitals in the Southwest region using a survey design, and multiple regression analysis was employed to analyze the data. The results revealed significant positive relationships between Cooperative Societies and poverty reduction (R² = 0.937) as well as community development (R² = 0.909). Cooperatives improved financial access, supported entrepreneurship, and invested in essential areas such as infrastructure, education, healthcare, and housing, promoting social cohesion.To enhance their impact, the study recommends strengthening financial support through agencies like the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) by providing low-interest loans and grants tailored to cooperative initiatives. Governance and transparency should be improved through regulatory frameworks, financial audits, and capacity-building programs for cooperative leaders. Additionally, cooperative societies should partner with local governments, NGOs, and international agencies such as the United Nations Development Programme (UNDP) to expand community development initiatives. Partnerships should target education, healthcare, and infrastructure projects, with state governments establishing cooperative liaison offices to coordinate efforts
RICE PRODUCTION GOAL PRIORITIZATION IN NORTH-EAST NIGERIA: THE ANALYTIC HIERARCHY PROCESS (AHP) APPROACH
Full text linkThis study applies the Analytic Hierarchy Process (AHP) to prioritize key goals for rice production in north-east Nigeria, aiming to provide insights into resource allocation for enhanced productivity. The results indicate that the Labour and Seed goal is the highest priority, with a score of 0.4460, reflecting its critical role in optimizing production. The Yield goal follows with a score of 0.3150, signifying its substantial impact on overall output. Conversely, the Budget goal (0.1176) and the Chemical goal (0.0673) are ranked as less critical. A consistency ratio of 0.03973 confirms a reliable level of consistency in the pairwise comparisons, adding robustness to the prioritization results. These findings suggest that stakeholders should focus primarily on improving labour and seed inputs to maximize efficiency in rice production. Emphasis on these resources aligns with previous research underscoring the influence of labour and seed quality on crop productivity. In contrast, budget and chemical inputs are deemed secondary priorities. By concentrating efforts on labour and seed optimization, sustainable and profitable rice farming practices can be promoted, ultimately benefiting regional agricultural outcomes
SUSTAINABLE AGRICULTURAL PRACTICES AND THEIR CONTRIBUTION TO RURAL ECONOMIC DEVELOPMENT: EVIDENCE FROM EDDA LGA, EBONYI STATE, NIGERIA.
Full text linkThis study investigates the role of Sustainable Agricultural Practices (SAP) in enhancing Rural Economic Development (RED), with a specific focus on the Edda Local Government Area in Ebonyi State, Nigeria. The research adopted a quantitative approach, utilizing quantitative data to examine how SAP contributes to rural economic growth and how Contextual Factors (COF) such as access to credit, educational level, cultural beliefs, social networks and community engagement moderate this relationship. The sample consists of 370 small, medium, and largescale farmers, selected through stratified random sampling. Regression analysis was used to explore the direct and interactive effects of SAP and COF on RED. The results indicate that SAP significantly improves RED by increasing agricultural productivity, ensuring environmental sustainability, and promoting income stability for rural farmers. Furthermore, the interaction between SAP and COF reveals that better contextual conditions, such as improved infrastructure and market access, significantly enhance the positive effects of sustainable farming practices on rural development outcomes. The findings underscore the critical need for policy interventions that not only promote sustainable agriculture but also address the contextual challenges that rural farmers face in implementing these practices effectively. The study recommends that government and development agencies strengthen support systems for rural farmers through infrastructure development, market integration, and capacity-building programs. By addressing these factors, sustainable agricultural practices can serve as a pivotal tool for improving rural livelihoods and driving long-term economic development in rural Nigeria. This research contributes to the growing body of literature on sustainable agriculture and rural economic development by providing empirical evidence from the Nigerian context
EFFECT OF INSTITUTIONAL QUALITY ON NIGERIA’S ENERGY SECTOR DEVELOPMENT
Full text linkThis study investigates the effect of institutional quality in driving energy development in Nigeria from 1992 to 2022, examining its interaction with key economic and environmental factors such as CO₂ emissions per capita, energy imports, electricity access, GDP per capita, inflation, and renewable energy. Employing a Vector Error Correction Model (VECM), the study explores both short- and long-term dynamics, highlighting institutional quality’s critical influence on energy sector outcomes. The findings reveal that strong institutional frameworks enhance energy development by supporting infrastructure growth and policy implementation, which are vital for sustainable progress. However, the limited impact of renewable energy underscores the need for increased investment and policy incentives to accelerate its adoption. Based on these findings, the study recommends strengthening institutional frameworks, enhancing governance structures, and implementing targeted policies to promote effective energy development and sustainability in Nigeria