JOURNAL OF ECONOMICS AND ALLIED RESEARCH
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GOVERNMENT HEALTH EXPENDITURE AND INCLUSIVE GROWTH IN NIGERIA: THE ROLE OF INSTITUTIONS
Full text linkThe study empirically examined the effect of government health expenditure on inclusive growth and the role of institution in Nigeria from 1990-2023. The data were sourced from Central Bank of Nigeria Statistical bulletin (2023) and World Development Indicators database. Unit root test was conducted using Augmented Dickey Fuller (ADF) and Phillip Perron Statistics. Result from these tests indicated that the variables were integrated in order I (0) and I (1). Autoregressive Distributive Lag Model (ARDL) was employed. The result indicated that government health expenditure had positive significant effect on inclusive growth in the long run. The interaction of government health expenditure and institutional quality had positive insignificant effect on inclusive growth both in the short and long run. The study therefore concluded that institutions in Nigeria limit government effort in achieving inclusive growth. Based on the findings, we recommend that there should be total reform of Nigerian institutions by the government
WOMEN EMPOWERMENT AND IMPLEMENTATION OF NUTRITION SENSITIVE AGRICULTURE AMONG FEMALE COOPERATIVE FARMERS IN ENUGU STATE, NIGERIA
Full text linkThis study investigates the role of women empowerment in the implementation of nutrition sensitive agriculture among female cooperative farmers in Enugu state. Using a multi-stage sampling method, 300 female cooperative famers were selected from the 4000 females registered in cooperatives in Enugu state. Data was analyzed using Abbreviated Women Empowerment in Agriculture Index (A-WEAI), Likert-scale ratings and poison regression. The mean empowerment scores reveal that female farmers in Enugu State are most empowered in income-related decisions (0.66) and leadership (0.59), while they experience the lowest levelsof empowerment in agricultural production (0.15) and time allocation (0.33).The perceived factors influencing level of women empowerment included marital status, gender-based violence and discrimination, lack of participation in community associations, limited access to basic infrastructure, lack of access to healthcare facilities, lack of skills and training and lack of awareness on respondents’rights.The variables which were statistically significant to production diversity of the respondents were; food knowledge (P<0.10), off farm income (P<0.05), primary occupation (P<0.05) and years of farming experience (P<0.05).The study calls for development and implementation of gender-inclusive policies and programs that will improve the socio-economic lifestyle of female farmers to have the potential to be effective for improving nutrition security. These policies and programs should have primary goal such as income generation or provision of social amenities like improved water facilities, access to needed farm inputs and incentive
AN ANALYSIS OF THE IMPACT OF HUMAN CAPITAL DEVELOPMENT ON ECONOMIC GROWTH IN NIGERIA
Full text linkThe study examines the impact of Human Capital Development on Economic Growth in Nigeria from 1989 to 2023. The Zivot-Andrew unit root test indicates that real gross domestic product, interest rate and secondary school enrolment are stationary at first difference while growth capital formation, labour force and tertiary school enrolment are stationary at level. ARDL model shows that that growth capital formation has a positive and statistically significant effect on the real gross domestic product in Nigeria. The labour force shows a positive and statistically significant effect on the real gross domestic product in Nigeria. Secondary school enrolment shows positive and statistically significant effect on the real gross domestic product in Nigeria. Tertiary school enrolment indicates positive and statistically significant effect on the real gross domestic product in Nigeria. The study recommended Nigeria should invest more in human capital development process and endeavours prioritize the education sectors budgeting considering its growth driving potentials in Nigeria. Similarl
MEASUREMENT AND DETERMINANTS OF ENERGY POVERTY AMONG UNIVERSITY ACADEMIC STAFF IN KWARA STATE, NIGERIA
Full text linkOne of the fundamental problems facing emerging nations, especially sub-Saharan Africa, is access to sustainable, dependable, and cheap energy services. Despite the abundance of natural resources in Nigeria, inadequate energy access plays out for university lecturers and other country residents. Therefore, using a Multidimensional Energy Poverty Index assessment, this study explores the intensity of energy poverty and its underlying factors among academic staff members at universities across Kwara State, Nigeria. Data were obtained from 354 university lecturers across federal, state, and private universities throughout Kwara State through a cross sectional survey approach. The assessment of factors influencing energy poverty among university lecturers relies on descriptive statistics, ordinary least squares (OLS), and Tobit regression as the evaluation methods. The study found that most lecturers across the study have demonstrated multidimensional energy poverty status because they lack access to reliable electricity, contemporary cooking fuels, and efficient lighting solutions. The study also reveals that income, house ownership, age, and gender status determine energy poverty among University lecturers in Kwara State, Nigeria. The study, therefore, recommends targeted economic interventions by the government, policymakers and university administrators, as a strategic solution instead of applying broad demographic-based methods
IMPACT OF ELECTRICITY SERVICES ON UNEMPLOYMENT IN NIGERIA
Full text linkThis study empirically investigates the impact of electricity on unemployment in Nigeria for the period of 1970-2020 using time series data obtained from statistical bulletin of the Central Bank of Nigeria (CBN, 2021) and the National Bureau of Statistics (NBS, 2021). Autoregressive Distributed Lag (ARDL) technique was employed to test the short-run and long-run impacts. The study found evidence of a negative and statistically significant impact of electricity (megawatt per hour of electricity generation and consumption) on unemployment rate both in the short-run and long-run. However, there exists non-significant impact of electricity transmission losses on unemployment rate. On the basis of these empirical findings, the study recommends an urgentneed for the electricity distribution companies to step-up electricity supply to Nigerian firms in order to accelerate the growth of enterprises, enhance jobs creation and reduces unemployment. Increasing electricity access to business firms should involve upgrading and expansion of the national grid particularly the electricity generation capacity and distribution network. The transmission company of Nigeria should ensure that transmission lines are rehabilitated in order to reduce power and technical faults in existing transmission and distribution infrastructure so as to increase generation capacity. When these are achieved, path to industrialization and economic growth to curtail unemployment are guaranteed
THE IMPACT OF INVESTORS’ SENTIMENT AND MONEY SUPPLY ON STOCK RETURNNS IN NIGERIA
Full text linkThe objective of this study is to empirically establish the relationship between investors’ sentiment and money supply on stock return in Nigeria. The study is correlational in nature and used panel regression model to test the hypotheses. Using 10 listed firms as the sample size from 1st January 2008 to 31st December 2021 out of the 156 firms listed on the Nigerian stock exchange. The study found the presence of a positive and insignificant link between investor sentiment and stock return, also showed the presence of a positive and significant relationship between money supply and stock return. Consequently, the study recommended that, there is need for the policy makers and regulators of the Nigerian capital market to consider sentiment amongst investor as an indicator for price movement in the stock market; and adequate quantitative data on sentiments should be made available to guiding both existing and potential investors on their behavioral approaches towards the market. The central bank of Nigeria should maintain a steady and realistic liquidity injected into the economy at a level that will boost investment in stocks
IMPACT OF CLIMATE CHANGE ON FOOD SECURITY IN NIGERIA: IS TERROR ATTACK A MATTER OF CONCERN?
Full text linkMotivated by extreme weather events and incessant terrorist attacks in many parts of Nigeria with attendant consequences on agricultural output and food security challenges, this study was undertaken with a view to addressing the problem. Arising from the above, the objective of this study is to examine the impact of climate change and terrorism on food security in Nigeria using Autoregressive Distributed Lag (ARDL) method on time series data from 1990 to 2024. Food production index is regressed on temperature anomaly, carbon dioxide () emission and terrorism index. To improve the robustness of our model result, we incorporate other control variables such as population growth rate and GDP per capita. The data for this study is sourced from World Bank climate change knowledge portal and Central Bank of Nigeria Statistical Bulletin online database. Findings indicate that temperature anomaly and emissions negatively influenced food security, highlighting the urgent need for climate mitigation action. Similarly, terrorism exerts a strong negative impact on food security, stressing the need to urgently initiate policies targeted at combating the menace of terrorism in Nigeria and other developing countries. The finding from this study is imperative for government and policy analysts to adopt climate mitigation strategies aimed at reducing carbon emission in order to ensure adequate and sustainable food supply for the country’s growing population
IMPACT OF GOVERNMENT DOMESTIC BONDS ON CAPITAL MARKET GROWTH IN NIGERIA
Full text linkThe Nigerian capital market plays a pivotal role in fostering economic development by mobilizing long-term funds and channeling them into productive investments. As a financial intermediary, it facilitates the flow of resources from surplus units (investors) to deficit units (borrowers), thereby promoting savings, investment, and wealth creation. This study investigates the effect of sovereign government domestic bonds (Federal Government of Nigeria Bonds [FGN Bonds], FGN Savings Bonds, and FGN Sukuk) on the growth of the Nigerian capital market from 2009 to 2024. Using an ex post facto research design, quarterly time-series data were analyzed through the Autoregressive Distributed Lag (ARDL) model to estimate both short-run and long-run relationships. The findings reveal that FGN Bonds, FGN Savings Bonds and FGN Sukuk significantly affect the positive long-term effects on the growth of the Nigerian capital market. The study concludes that sovereign bonds play a critical role in driving the growth and development of the Nigerian capital market, underlining the need for strategic policies to ensure sustainable market expansion. Based on these results, the study recommends strategies to optimize bond issuance, such as addressing short-term disruptions, intensifying awareness campaigns for FGN Savings Bonds and encouraging greater issuance of FGN Sukuk
SOCIAL GLOBALIZATION AND NIGERIA’S MANUFACTURING SECTOR OUTPUT
Full text linkThis study investigated the impact of social globalization on Nigeria’s manufacturing sector output. This study utilized the autoregressive distributed lag estimation technique and sourced its data from the world development indicators. The study found that the manufacturing production and the social globalization index have long-term correlations, it also discovered that the coefficient of social globalization was positive and insignificant which suggested that social globalization has not promoted Nigeria’s manufacturing sector output during the study period. This study observed that in order for Nigeria to harness the benefits of social globalization there is need for Nigeria to make sufficient reliable and effective policies. The study concludes that social globalization was insufficient to propel manufacturing output in Nigeria and recommends policy measures such as strengthening of the Nigeria local content development, including the promotion of vocational training alignment with global standards and supporting digital platforms for local manufacturers
BANK HETEROGENEITY AND THE TRANSMISSION OF MONETARY POLICY IN NIGERIA: A CREDIT AGGREGATE PERSPECTIVE
Full text linkThis study employs a one-step system Generalized Method of Moments (GMM) estimator within a dynamic panel framework to analyze how bank-specific attributes, namely, asset size and liquidity ratio, condition credit responses to monetary policy instruments. The findings reveal significant persistence in bank credit supply and confirm the effectiveness of monetary policy tools such as the Monetary Policy Rate (MPR) and Cash Reserve Ratio (CRR) in curbing credit expansion. However, the impact is asymmetric: smaller and less liquid banks exhibit greater sensitivity to monetary tightening, while larger banks demonstrate resilience due to stronger balance sheets and liquidity buffers. Interaction terms further suggest that heterogeneity shapes the credit transmission pathway, moderating the effects of monetary policy. The study highlights the necessity for policy design that reflects institutional diversity within the banking sector, emphasizing that tailored interventions may enhance monetary effectiveness and financial system stability in Nigeria