GUSAU JOURNAL OF ECONOMICS AND DEVELOPMENT STUDIES
Not a member yet
126 research outputs found
Sort by
ECONOMETRIC ANALYSIS OF INFLATION AND MONETARY POLICY INDICES IN NIGERIA
Get PDFThis work studied the intricate web of economic relationships in Nigeria, exploring the interactions between exchange rates, inflation, money supply, and economic growth. The research unveiled valuable insights into the dynamics of Nigeria's economy and its implications for policymakers. The work attempts to explore the impacts of exchange rate fluctuation, increasing inflation rates increased money supply on Economic growth in Nigeria. The econometric technique of Error correction model (ECM) was relied upon as a major analytical tool to determine the relationship among the variables. Our findings unveiled a noteworthy connection between exchange rates and inflation, underlining the influence of exchange rate fluctuations on inflationary pressures. Additionally, money supply and economic growth were identified as significant factors affecting inflation rates, aligning with theoretical expectations. Notably, these variables collectively explained a substantial portion of the variation in real Gross Domestic Product (RGDP), signifying their collective influence on economic outcomes. The error correction model (ECM) underscored the statistical significance of the long-term relationships among these variables. In light of these findings, we recommend that policymakers in Nigeria pay close attention to exchange rate policies, monitor and manage money supply, and prioritize economic growth as integral elements in their efforts to control inflation and maintain economic stability. Continuous monitoring and analysis of these variables will be crucial for informed decision-making and effective economic management in Nigeria
BUSINESS RISK CONTROL TECHNIQUES AND ENTREPRENEURIAL SUCCESS: EVIDENCE FROM SELECTED TERTIARY INSTITUTIONS’ STUDENTS IN EKITI STATE NIGERIA
No full textRisk control techniques are key instrument for enhancing the entrepreneurial successes required in tertiary students in the face of herculean economic hardship. This study examined the nexus between risk control techniques and business performance among selected tertiary institutions’ students in Ekiti State. The study adopted a cross-sectional survey design cum double sampling techniques comprising purposive and convenience. The study further employed a structured questionnaire to gather data from a sample size of two hundred and sixty-seven (267) participants. Descriptive statistic, Friedman’s rank test and simple regression techniques were adopted in the data analysis. The study showcased the rank-order analysis of risk control techniques and entrepreneurial successes criteria. Further results also revealed the positive relationship between risk control techniques and entrepreneurial successes of selected tertiary institutions’ students in Ekiti State, Nigeria. The study recommended that educational stakeholders in tertiary institutions ensure that their students are equipped with the necessary understanding of risk management techniques, which can assist them in their respective commercial endeavours. Furthermore, tertiary institutions should incorporate into their entrepreneurship curriculum a variety of risk identification tools that will effectively stimulate the entrepreneurial intention and behaviour of students. Tertiary universities should establish enterprises that can function as incubators for their students to gain practical experience in business development
BUILDING PEOPLE’S RESILIENCE: SUPPORT MECHANISMS AND POST-RETIREMENT WELL-BEING OF RETIREES IN LAGOS STATE
No full textThis study examined the support mechanisms that are available to enhance the post-retirement well-being of Lagos State Civil Service retirees. Using the descriptive survey research design and the purposive/snowball sampling technique, 671 retirees were selected as respondents for this study. Collected and collated data were analyzed using descriptive statistical techniques such as tables, frequencies, and bar charts. Four research questions were stated and findings from research question one revealed that the challenges faced by Lagos State Civil Service retirees encompass financial insecurity, health deterioration, loss of routine, emotional adjustment, lack of purpose, and social isolation. Equally, research question two found that most retirees rely strongly on pensions for financial security. Research question three brought to the fore that 98.4% of the respondents observed that the existing support mechanisms during the transition to retirement are not adequate at all, and research question four indicated that retirees want assistance in financial planning, improved healthcare, lifelong learning opportunities, a centralized information portal, active feedback mechanisms, and housing assistance. Based on these findings, this study concludes that the current support mechanisms are grossly inadequate underscores a critical gap between provided services and the actual needs of the retired populace. Thus, the study recommends amongst others that the Lagos State Civil Service should implement a multi-faceted approach that addresses the diverse needs (i.e., financial education, healthcare accessibility, mental health and social reintegration services, lifelong learning, and volunteer programmes and centralized information portal) of its retirees
MACROECONOMIC ANALYSIS OF FISCAL POLICY AND SMALL AND MEDIUM-SCALE ENTERPRISES OUTPUT IN NIGERIA
No full textFiscal policies, specifically taxation, affect the output growth of SMEs in most developing countries. This study analysed the impact of taxation on small and medium enterprises output in Nigeria using the Auto Regressive Distributed Lag model econometric technique using the ex-post facto research design. The econometric equation is anchored on the Solow-Swan and Keynesian theories. Secondary data from 1981 to 2022 was collected from The Central Bank of Nigeria, the International Labour Organization, and the World Bank Development Indicators. The unit root test showed that the variables were of mixed order of integration which warranted the use of the Bounds testing approach. Taxation had a positive and significant effect on SME output in the long run, loans and electricity supply were found to be positive and significant drivers of SME output in Nigeria. The study thus recommends that the long run effect of taxation should be considered by government when it has to do with SMEs. Also, efforts to shore-up the dedicated funds in specialized funding bodies like Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Bank of Industry should be activated to increase loans to SMEs. Third, government should open the electricity generation and distribution sector to private investors to enhance consumption. 
IMPACT OF PUBLIC DEBT ON INFRASTRUCTURAL DEVELOPMENT IN NIGERIA (1990-2023)
No full textThe challenges of a high debt portfolio with deficit infrastructural development have affected the needed economic development in Nigeria. The study analyzed the impact of public debt on infrastructural development in Nigeria. The scope of the study was taken from 1990 to 2023; secondary data were sourced from the Debt Management Bulletin and Central Bank of Nigeria Bulletin. ARDL model was used to analyze the data, and the result revealed that external debt had positive and significant impact on infrastructural development in the long run on the other hand, the domestic debt had a negative but insignificant impact on infrastructural development in Nigeria which means that domestic if not well managed will lead to a decrease in infrastructural development in Nigeria. However, the ECT (-1) further revealed that the model is reliable with its value of (-0.522833) which shows that the model is converging. Based on the study's findings, it can be said that Nigeria uses its public debt to support infrastructural development. Nonetheless, to guarantee that infrastructural development in translate to economic growth in Nigeria, there is need for Government to constitute committee to properly monitor the implementation of loans collected. Therefore, any effort by Nigeria's government to boost infrastructural through infrastructural development by continuously using debt, especially external, should be steady make policy for proper monitoring of the implementation of the projects collected loans for. Similarly, Central of Bank of Nigeria, Federal Ministry of Finance and Federal Ministry of Works should ensure through projects tracking all capital projects are proper monitored of the implemented
EVIDENCE FROM ASYMMETRIC APPROACHES ON THE EFFECTS OF ENERGY SOURCES ON ECONOMIC GROWTH IN NIGERIA
No full textNigeria has several renewable energy resources that have not yet been effectively used, despite the nation's commitment to achieving net-zero emissions by 2060, which was put forward at the 26th United Nations Climate Change Conference in 2021 and calls for reduced use of fossil fuels. Despite the fact the aforementioned commitment may cause the nation to lose focus on eradicating poverty as the primary objective of sustainable development, this study aims to determine the asymmetric effects of renewable and non-renewable energy sources used in electricity generation, as well as environmental pollution (CO2 emissions), on the country's economic growth in Nigeria. According to the findings, Nigeria should primarily adopt policies that focus on increasing non-renewable energy consumption in the short term and increasing renewable energy consumption in the long term to achieve higher economic growth. Additionally, the long-run causality findings supporting the sole feedback relationship between renewable energy and economic growth pave the way for Nigeria to significantly increase its share of renewable energy in the long run, enabling it to achieve higher economic growth and, by 2060, approach net-zero emissions, both of which are key objectives of sustainable development
EFFECT OF TERRORISM ON FOREIGN DIRECT INVESTMENT INFLOWS IN NIGERIA: EVIDENCE FROM A NON-LINEAR AUTOREGRESSIVE DISTRIBUTED LAGS ESTIMATION
No full textNigeria is currently plagued with terrorist attacks and other social vices with an attendant negative influence on the investment climate of the nation. Previous empirical studies have used military expenditure and financial budget on defense and security as a proxy for terrorism, which may not be empirically appropriate for a nation whose security architecture has been alleged to have been compromised following several anecdotal. Hence, the present study uses terrorism index by Institute of Economics and Peace, Global Terrorism Index which has no financial component in its methodology. The main objective of this study is to empirically examine the effect of terrorism on FDI inflows from 1990 to 2022. The nonlinear autoregressive distributed lag approach of bound test and error correction model were utilized given that time series variables were stationary at levels and first difference, as reported by the ADF and PP unit root tests. The Bounds test revealed that a nonlinear long run relationship do exist among the variables within the era of analysis. On whether the effect of the positive and negative changes in terrorism index on FDI inflows in Nigeria is the same, we found out that the effect is not the same as negative change is empirically stronger than the positive change both in the long run and short run. In the long run, the negative change in terrorism index is larger than the positive change in terrorism index by 1.75%. In the short run, positive and negative changes in terrorism index have significant effect on FDI inflows in Nigeria, but not the same magnitude and size in effect as negative changes is larger than positive changes by 0.96%. The ECM empirical result showed that in case of distortion or shock to the pace of FDI inflows into Nigeria in the current period will be brought back to long run equilibrium at 6.68% in the coming period, this implies that the present value of FDI inflows adjust slowly to positive and negative changes in LRGDP, LTO, EP, EXR, NTI and UMP. Based on the empirical results found, the study recommends that since Nigeria terrorism index does not necessarily deter FDI inflows in Nigeria; policymakers and the government can take full advantage of other determinants or drivers of FDI inflows by expanding the market size, improve more in infrastructural facilities, and comparatively strengthening the economic ties with the rest of the world to make Nigeria a safer haven for investment opportunities
BRAND POSITIONING OF HIGHER EDUCATIONAL INSTITUTIONS (HEIS): STUDY OF SELECTED UNIVERSITIES IN LAGOS STATE, NIGERIA
No full textBrand positioning is a key strategy that shapes public perceptions of Higher Educational Institutions (HEIs). The main aim of this study is to assess effect of Brand Positioning on Higher Educational Institutions (HEIs) in Lagos State, Nigeria. The specific objectives are to examine the effect of brand identity, brand personality and brand awareness on Student satisfaction, public perception and staff quality of service in Higher Educational Institutions (HEIs) in Lagos State, Nigeria. The study employed survey research method with copies of structured questionnaires distributed among the respondents from three selected higher institutions. The population of the study was 3234 and was based on Taro Yamane’s (1967) formula which is finite population. 356 copies of questionnaire were administered randomly to students of Lagos State University (LASU), Lagos State University of Science and technology (LASUSTECH) and Lagos State University of Education (LASUED) in Lagos State, Nigeria. Linear regression analysis was used to test the hypothesis. The findings reveal that brand identity significantly impacts student patronage and satisfaction; brand personality have significant effect on public perception; likewise, brand awareness have significant effect on staff quality of service. The study therefore recommended that regular workshops, seminars, and opportunities for collaboration among faculty members can help in sharing best practices and keeping educators updated about the latest advancements in their fields. Improved faculty quality directly contributes to the perceived value of academic programs, enhances learning outcomes, and increases student satisfaction
THE INFLUENCE OF INSTITUTIONAL QUALITY ON ENVIRONMENTAL SUSTAINABILITY IN SUB-SAHARA AFRICA: USING ECONOMIC GROWTH, FDI AND RENEWABLE ENERGY AS MODERATORS
No full textUsing data from the World Development Index, this study examines the relationship between institutions and environmental sustainability in Sub-Saharan African nations, with a particular emphasis on the dynamic interacting effect of institutional quality. All six of the elements that make up institutional quality are employed as independent variables, while CO2 is used as a stand-in for environmental sustainability. In addition to independent variables, the study takes into account the moderating variables of economic growth, use of renewable energy, and foreign direct investment. This study demonstrates the existence of an influence relationship between institutional quality and environmental sustainability via the six indexes employed for the analysis by utilising Hansen tests and higher-order serial correlation as the optimal methodologies for the GMM model. In a similar vein, all of the moderator factors showed their effect on the environment, with the exception of FDI, which in SSA showed no environmental neutrality. We recommend that in order to mitigate climate change, combat corruption, uphold the rule of law, enhance government efficiency, and accelerate economic growth, legislators should fortify the institutional, legal, and policy framework. Aspects of environmental sustainability must also be taken into account
IMPACT OF INSTITUTIONAL QUALITY ON PRIVATE SECTOR INVESTMENT IN ECONOMIC COMMUNITY OF WEST AFRICAN STATES
No full textThe objective of the study is to investigate the impact of institutional quality on private sector investment in ECOWAS countries. The study covers the period from 1995 to 2022 and employed the Pool Mean Group (PMG) as its technique for data analysis. The result reveals that accountability and voice, and rule of law have statistical and positive significance influence of private sector investment in the long run, while control of corruption has a negative relationship in the long run with private sector investment in ECOWAS members’ countries. However, the Granger causality test results revealed that there is strong evidence that past patterns of private sector investment predict future political stability, accountability and voice, control of corruption, and rule of law. The study therefore concludes that private sector investment is driven by accountability and voice, and rule of law in ECOWAS countries. The study recommends the need by governments of ECOWAS members’ countries to strengthen mechanisms that promote transparency and citizen participation. Emphasis should be placed on the rule of law by prioritizing legal reforms that create a fair, predictable, and supportive business environment. Ensuring continuous monitoring and evaluation of implemented reforms, collaboration among ECOWAS countries to share best practices and coordinate initiatives that create a more favourable business environment in the region