GUSAU JOURNAL OF ECONOMICS AND DEVELOPMENT STUDIES
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AN ARDL ANALYSIS ON THE EFFECT OF OIL PRICE INSTABILITY ON FOREIGN RESERVE IN NIGERIA (2015-2022)
Get PDFThe paper employed auto regressive distributive lag (ARDL) model to examine the effect of oil price instability on foreign reserve in Nigeria using recent monthly time series data over the period of 2015-2022. The results of ARDL Bound cointegration indicated a presence of cointegration in the model which confirms an existence of long run relationship between oil price instability and foreign reserve. The findings of ARDL long run analysis show that oil price instability have negative and significant effect on foreign reserve. Likewise, inflation rate has a negative and significant effect on foreign reserve. On the other hand, oil revenue is found to have a positive and significant effect on foreign reserve. Furthermore, the ARDL short run estimates indicate that an existence of a short run relationship between oil prices and foreign reserve. From the findings, the coefficient of error correction term indicates that about 30% of the discrepancy between the actual and the long run or equilibrium value of foreign reserve is corrected or eliminated each month. Furthermore, the results of granger causality test indicate a unidirectional causality between oil price instability and foreign reserve. Based on the empirical findings, the paper suggests the need for the policy makers to adopt policy framework that will get rid of corruption and ensure macroeconomic stability. Policymakers should also take steps to mitigate the negative effects of oil price fluctuations on foreign reserve in Nigeria
DETERMINANTS OF DEMAND FOR MEAT PRODUCTS IN DAMATURU, YOBE STATE, NIGERIA
Get PDFThis paper investigates the determinants of demand for meat products in Damaturu, Yobe State in Nigeria utilizing primary data. A combination of multi-stage and purposive sampling methods were implemented to select 150 participants using a structured questionnaire. The results were analyzed using descriptive statistics and the Ordinary Least Squares (OLS) regression model.The study revealed that beef was the most preferred type of meat, garnering a preference rate of 73.3%. Interestingly, mutton registered the highest average monthly expenditure among households, amounting to ₦22,986. All the three meat products were found to be negative (elastic) and statistically significant at 1%. Notably, the elasticity coefficient for beef was the most sensitive to its price with the coefficient of -23.78. Similarly, the cross-price elasticity suggested complementarity among all the meat products. Income on the other hand,had a positive correlation with meat products expenditure across all types and statistically significant at the 1% level respectively. The coefficient of Beef showed the strongest positive relationship with its expenditure although the magnitude of coefficients for all meat types confirmed that they were all luxury products. Lastly, family size was inversely related to expenditure on all meat types, though this relationship was only statistically significant in the case of beef expenditure. The study concludes that there is a positive outlook for small ruminant farming in the state. Consequently, the study recommends support for livestock farmers through subsidies, training, and improved access to markets, consumer income enhancement programs and nutrition education campaigns to raise awareness about the nutritional value of various meats, including more cost-effective options
ASSESSMENT OF YOUTH EMPOWERMENT PROGRAMME AS VIABLE POLICY FOR RURAL AGRARIAN COMMUNITY DEVELOPMENT IN KATSINA STATE, NIGERIA
Get PDFYouth Empowerment is a systematic process/policy for rural agrarian community development in Nigeria. Katsina State was purposively chosen. Multi-stage sampling procedure was used to select 190 respondents each from participating trainee on dyeing, pottery, catering, welding and blacksmithing and non-participating farmers to assess the impact of the programme in community development. Information was obtained by the use of structured questionnaires guided by trained enumerators. Descriptive statistics, foster-greer-thorbecke (FGT) index, propensity score marching (PSM) were used to describe the socio-economic characteristics of the respondents, measure their poverty status and the impact as a result of participation in the programme respectively. The results revealed that majority respondents were agile and fell between age bracket of 26 and 27 with higher percentage of male (76 and 75), with a good number marked (64% and 63%), and a higher proportion of educationally advantage (88% and 87%) of both the participant and non-participant. Similarly, the poverty depth index were 0.326 and 0.412, which showed higher poverty among non-participant (0.412) of the programme. The result further indicated the average programme effect on poverty status, test index of youth participating is between 5.9 to 7.2% higher than the non-participant which makes it significant at 1% level of probability and has impacted on poverty status of the participant. Therefore, among the recommendation were advocating for both Government and Non-governmental organization to facilitate community driven development through empowerment programmes for sustainable development
AN ASSESSMENT OF THE EFFECT OF FISCAL POLICY SHOCKS ON SELECTED MACROECONOMIC VARIABLES IN NIGERIA
Get PDFThis paper examines the impact of fiscal policy shocks on GDP and aggregate investment in Nigeria. Structural vector autoregressive model (SVAR) was used with quarterly data from 1988-1 to 2018-4. The study measures the responses of Nigerian GDP and aggregate investment to shocks in government revenue from oil and taxes. The result of impulse response shows that fiscal policy shocks affect the selected macroeconomic variables, where the GDP and aggregate investment responded significantly to taxes and oil revenue shocks. However, aggregate investment responds negatively and insignificant to shock in tax revenue in long run. The positive reaction of these variables to shock in oil revenue shows evidence that the revenue base of Nigeria is poorly diversified and manage; and that the country is heavily dependent on oil revenue. The study however suggests that there is a need for the country to diversify its revenue base to attain output growth in all sectors of the economy and job creation through the use of revenues from the oil sector
SOCIO-ECONOMIC EFFECTS OF FINANCIAL LITERACY ON FINANCIAL INCLUSION OF WOMEN IN NIGER STATE, NIGERIA
Get PDFThis paper aims to contribute to the existing body of knowledge on the socio-economic effect of financial literacy on the financial inclusion of women. By shedding light on the importance of financial literacy and the barriers women face, policymakers, financial institutions, and organizations can develop targeted strategies and interventions to promote women's financial inclusion, ultimately leading to improved socio-economic outcomes and gender equality. This study employed the probit regression on the National Bureau of Statistics general households’ survey data to appraise the effect of financial literacy on financial inclusion of women in Niger State. The estimation result shows that financial literacy positively and statistically influences financial inclusion options (cash at hand, purchasing power, account ownership, bank access, and credit access) in Niger state. Similarly, education status, age, and gender are determinants of financial inclusion. The study concluded that financial literacy is essential for achieving financial inclusion among women. To encourage financial inclusion among women, the study recommends that the government should initiate programs that will train women and also include financial literacy education at secondary or tertiary level to teach skills and information on how to utilize and manage financial services and products. The Central Bank should also mandate that the financial institutions to establish customer financial advisory units to educate their clients on managing and using financial products and services available to them to create wealth, thus improving living standard
TAX REVENUE EFFECTS ON GOVERNMENT REVENUE GENERATION IN NIGERIA
Get PDFThe study focussed on how Nigeria's value-added tax affected the country's ability to generate income spanning twenty years (1999-2019). The journal of the Chartered Institute of Taxation of Nigeria, Federal Inland Revenue Service Annual Reports, and the Central Bank of Nigeria Statistical Bulletin were sought out as secondary sources of data. A simple regression technique was used to accomplish the analysis. Results indicated that company income tax and Value Added Tax have a statistically significant impact on Nigeria's income generation. The report recommends the following actions: the government should make every effort to enhance the manner in which value-added tax is collected; all VAT agents should be committed and appear honest with regard to collection and payment Moreover, the country's tax base will grow as goods and services are taxed more which includes the activities of the informal sector
Relationship between Gender Diversity and Board Size on Corporate Performance of Listed Insurance Firms in Nigeria
Get PDFThe heterogeneity of the board is a sensitive issue because theories emphasized on how important it is to have female directors. Therefore, this study examined the female on board and board size on the corporate performance of listed insurance firms in Nigeria. uses a sample of 25 insurance firms for the years 2011 through 2021. The MachameRatios Database and the annual reports of the sampled companies from the Nigerian Stock Exchange provided the study's data, which were then analyzed using ordinary least square regression. The study discovered that the financial success of businesses is influenced by female directors and board size. The results supported the argument that gender diversity enhances the financial outcomes of firms. Therefore, the study recommended that the management of insurance firms should have the right board member consisting of women inclusion to increase financial performance. The regulators or policymakers should make sure firms in NSC maintain the appropriate board size by ensuring that corporate governance code compliance is painstaking
ANALYSIS OF THE PATTERNS AND DETERMINANTS OF HOUSEHOLDS’ COOKING ENERGY DEMAND IN YOBE STATE, NIGERIA
Get PDFThe paper investigates household cooking energy consumption pattern in Yobe State, Nigeria utilizing secondary data sourced from Nigeria’s COVID-19 national longtitudinal phone survey (NLPS, 2020). Descriptive statistics and ordinarily least squares estimation technique were employed in the analysis of the data. The findings indicate that about 66.7% of the households in Yobe are multiple fuel users. Additionally, among the specific fuel users about half (50%) of the users relied on fuelwood for their household needs. With regards to the determinants of energy sources, income, household size and age were found to be positive and statistically significance at 1% for all the energy sources. The influence of income was the most substantial for charcoal. Household size has the most influence on fuelwood. Similarly, Older households seem to consume more of all fuels. The results for area of residence was only positive and and statistically significance at 1% for kerosene demand while Gender does not significantly affect any fuel type demand. The study concludes that socio-economic factors influence cooking energy demand in Yobe State.Hence, recommends that various stakeholders should support economic empowerment, energy education and promote outreach for specific demographics
DOES OVERVALUATION OR UNDERVALUATION OF NAIRA EXCHANGE RATE AFFECT STOCK PRICES DIFFERENTLY? EVIDENCE FROM NONLINEAR ARDL
Get PDFThe relationship between stock prices and exchange rates misalignment has not received too much attention. The result from most of the previous studies have shown that the relationship between the variables is short run with few indicating that they have long run relationship. Also, the few existing studies on the nexus between exchange rate misalignment and stock prices assumed a symmetric relationship between the two variables. The mixed result from previous study is due to the assumption of linearity. In this paper, we use quarterly data for Nigeria from 1991 to 2018 to check the possibility of asymmetry in the relationship by decomposing the misalignment series into overvaluation and undervaluation using non-linear ARDL method. The result show evidence of short run and long run asymmetry, this implies that the effects of undervaluation will last over much longer period than the effects of overvaluation. These findings have implication for market participants as well as policy makers. In managing the exchange rate, policy makers must be aware of the asymmetric effect of their action on the stock market as they try to devalue domestic currency for the purpose of improving trade balance
INFLUENCE OF GREEN PRODUCT KNOWLEDGE ON GREEN PURCHASE INTENTION OF SMARTPHONE USERS IN A B U ZARIA: GREEN CONSUMER BEHAVIOUR AS A MODERATOR
Get PDFThe growing awareness about the implications of global warming, non-biodegradable solidcwaste, and harmful impact on pollutants has made both marketers and consumers tocbecome increasingly sensitive to the need for switching to green products and services. This study sought to determine what accounts for consumers’ ignorance about the influence green product knowledge has on the environment and its negative consequence on human beings and other animals in terms of pollution, theory of reason action (TRA) was used to underpin this study. The study used descriptive survey research design using primary data with instrument adapted. The population of the study was made up of 43,929 of A B U students, using Smartphone. The sample size for this study was (381) which are determined by using Krejcie and Morgan sample size table and simple random sampling was adopted for the selection. Partial Least Square- Structural Equation Modeling (PLS-SEM) was used version 3.0 to analyze the data and test the hypothesis formulated. The findings revealed that objective knowledge, and trust positively affects green purchase intention, while subjective knowledge was positive and insignificant and experience-based knowledge was negative and significant on green purchase intention. The study recommends that firms should increase their green product knowledge for Nigerian consumers through personal approach