Nnamdi Azikiwe University Journals
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FOREIGN DIRECT INVESTMENT AND NIGERIA’S ECONOMIC GROWTH
No full textThis study investigated the impact of foreign direct investment (FDI) on economic growth in Nigeria from 1981 to 2023. The reason for this study was based on the generally perceived opinion that FDI contributes to economic growth of any nation if properly utilised. Above all, there has been conflicting views about the impact of FDI on economic growth particularly for developing countries like Nigeria. Two null hypotheses were tested in the study after a review of relevant literature. The ordinary least square (OLS) method was employed to analyse the data for this study. This study found that FDI had positive and significant impact on the economic growth of Nigeria within the study period. Also, the trend analysis revealed that for some years the FDI into Nigeria was not always progressive. The study recommended that efforts should be made to have a conducive atmosphere for attracting foreign investors through an increase in security and the protection of property rights as well as the rule of law
MONETARY POLICY AND PRICE STABILITY IN NIGERIA
No full textInflation remains a persistent challenge in Nigeria, driven by rising prices of goods and services, which create uncertainty and discourage investment. Structural issues such as reliance on oil revenue, limited economic diversification, and political instability further complicate monetary policy efforts to maintain price stability. This study examines the impact of monetary policy tools on inflation in Nigeria, focusing on the monetary policy rate (MPR), money supply (MS), exchange rate (ER), lending rate (LR), petrol price (PP), and import commodity price index (ICP). Using annual time-series data from 1981 to 2023, the Autoregressive Distributed Lag (ARDL) model is applied to analyse both short- and long-run dynamics. The results show that money supply, petrol prices, and import prices have statistically significant positive effects on inflation, identifying them as key inflationary drivers. Conversely, the effects of the MPR and lending rate are not statistically significant, indicating that interest rate policies alone may not effectively curb inflation. Granger causality analysis reveals a unidirectional causality from exchange rate to inflation, highlighting the importance of exchange rate stability. The study recommends that the Central Bank of Nigeria adopt an inflation-targeting framework, enhance policy transparency, and align monetary policy with supportive trade and fiscal strategies. Structural reforms aimed at economic diversification and reduced reliance on oil revenue are also essential to improving monetary policy effectiveness and ensuring long-term price stability. 
APPRAISAL OF FINANCING STRUCTURES FOR COMMUNITY DEVELOPMENT IN SOUTH WESTERN NIGERIA
No full textThe development of local communities is generally an issue of global concern. This is also the case in South Western Nigeria, where most community development programmes in rural areas are usually truncated due to inadequate finances. In this regard, this study was conducted to assess the financing structures of community development in the region. The study employed expository and descriptive research techniques in carrying out this appraisal. Using data from annual budgets in the region from 2019 to 2023, the results revealed that among the states in the region, Lagos State recorded the highest internally generated revenue and statutory allocation from the federal government, while Ekiti State has the least. In terms of recurrent and capital expenditure, Lagos State also has the highest, while Ekiti State has the least. Based on these, the study recommends that communities in Southwest Nigeria should support the efforts of the state and local government by imposing levies and informal taxes to support their community development efforts. In addition, communities can reach out to philanthropists within the community to donate for community development or engage private institutions for project concession
YIELD CURVE, INFLATION, EXCHANGE RATE AND THE NIGERIA’S FUTURE ECONOMIC GROWTH: A VAR APPROACH
No full textThis paper analysed the predictive ability of the yield curve on macroeconomic variable or real activity (GDP) using Vector autoregressive (VAR) model for Nigeria. A quarterly data was utilized for the period 2003q1 to 2023q4. One popular stylized fact in macroeconomics remains the forecasting ability of the term spread (yield curve) for future real activity (recessions). A vector autoregressive model was adopted for the data analysis. Four (4) different VAR equations were specified according to the total number of variables under study. The 4-variables are real GDP growth (RGDP_G), yield curve (YC), consumer price index (CPI) and exchange rate volatility index (EVIX). One major finding of the paper remains the observation of the yield curve’s predictive ability on recessions. This was observed from the monetary policy tightening of the Central Bank of Nigeria (CBN), which leads to flattening of the yield curve as it reduces the net interest margin, reduced credit supply or loans supply or credit advancement and finally reduced economic activities (recession). Based on this, it has been recommended that both short-term and long-term interest rates be raised simultaneously to avoid flattening of the YC and in essence to avoid the spiral through the balance sheet monetary policy transmission mechanism. 
NIGERIAN TAX INFRASTRUCTURE, INCENTIVES AND INNOVATIONS IN THE TAX REFORM ACTS 2025: AN APPRAISAL
No full textThe necessity and importance of all citizens abiding to their obligation to pay tax to the state may sound rudimentary akin to the flogging of a dead horse, yet this obligation underscores the very fabric that make for modern day civilized society; the citizens pay to be protected and supplied with the basic amenities of life. On the other hand, there exist some benefits created by statute to lure the tax payer to collaborate with the state infrastructure by investing as pioneers in commerce and industry thus cutting them some slack in many tenable and untenable ways, this reality creates an imbalance which if unchecked could hamper the smooth generation of revenue and development in the nation. Using doctrinal methodology, this paper journeys on the path of discovery to make a case for the need to secure a middle course that benefits all, a middle course that ensures citizens’ continued compliance with their tax obligation and a middle course which ensures continued foreign direct investment (FDI)and local industries growth. The work examined the notion of taxation as a social contract, taxation incentives in Nigeria and the provisions of the National Tax Policy, and the new Tax Reform laws 2025. The paper found the innovations in the new reforms laudable and therefore recommends effective implementation of the new tax reforms by government at all levels and by relevant institutions, a monthly publication on Internal Revenue Service website to track compliance to the legislations as well as public enlightenment on tax laws
ENTREPRENEURIAL SKILLS DELIVERY IN BUSINESS EDUCATION AND GRADUATE STUDENTS’ BUSINESS SUCCESS IN RIVERS STATE
No full textThis study investigated the relationship between entrepreneurial skills delivery in business education and graduate students’ business success in Rivers State. Correlational research design was used. The participants for this study were 187 postgraduate students from the two (2) universities in Rivers State that are running Business Education Post Graduate program. Data were collected mainly through the use of questionnaire. Data collected were analyzed using Pearson correlation. The findings of the study showed that: there is a significant relationship between creativity and business success of Graduate students in Rivers State; there is a significant relationship between communication skills and business success and lastly, significant relationship between financial management skills and business success of Graduate students in Rivers State. Based on the result, we concluded that delivery of entrepreneurial skills through creativity, communication skills, and financial management skills can greatly enhance the financial success, corporate social responsibility, and customer satisfaction of Graduate students. We suggested that business educators should adopt a blend of delivery mechanisms for the impartation of entrepreneurial delivery skills that are anticipated to promote the business success of students. The implication of this result is that there is possibility of using entrepreneurial skills delivery as a paramount facet of education, training, and impartation of relevant entrepreneurial skills into graduates for economic growth, enhancement and becoming successful in business 
THE INFLUENCE OF DIGITAL MARKETING STRATEGIES ON HOTEL SALES PERFORMANCE: EXAMINING THE MODERATING EFFECT OF BRAND REPUTATION
No full textThis study examined the impact of digital marketing strategies on sales performance and brand reputation in the Nigerian hotel industry. The rapid evolution of digital platforms has reshaped consumer behavior, making it critical for hotels to adopt effective digital marketing techniques to remain competitive. Despite the growing reliance on digital marketing, the extent to which these strategies influence sales performance and brand reputation in the Nigerian context remains underexplored. The objective of this research is to assess the effectiveness of digital marketing tools, such as social media campaigns, search engine optimization (SEO), and online advertising, in improving sales performance and enhancing brand reputation among Nigerian hotels. The study employed a mixed-method approach, combining qualitative interviews with hotel managers and guests. The findings revealed a positive correlation between the adoption of tailored digital marketing strategies and increased sales performance, as well as a notable improvement in brand perception. However, challenges such as inconsistent internet access, limited technical expertise, and low customer engagement were identified as barriers to full utilization of digital marketing in the sector. Based on these findings, it is recommended that Nigerian hotels invest in targeted digital marketing training for staff, improve internet infrastructure, and engage in more personalized marketing efforts to strengthen their online presence. Additionally, hotels should leverage data analytics to refine strategies and enhance customer engagement, ultimately improving both sales performance and brand reputation. The study highlighted the growing significance of digital marketing in the hospitality sector and offers practical suggestions for hotel managers seeking to thrive in a competitive digital landscape. 
EXPLORING EMPLOYEE PERCEPTIONS OF FAIRNESS IN PERFORMANCE APPRAISAL SYSTEMS: A STUDY OF ANUDU PLASTIC FACTORY ASABA, DELTA STATE.
No full textThis study explored employee perceptions of fairness in performance appraisal systems at Anudu Plastic Factory. Performance appraisal is a crucial human resource management practice, yet employee dissatisfaction often stems from perceived unfairness in its implementation. The research adopted a qualitative approach, using in-depth interviews to gather insights from selected employees across different departments. The study focused on three dimensions of fairness: distributive fairness, procedural fairness, and interactional fairness. Findings revealed that while some employees acknowledge the appraisal system as moderately fair, many express concerns about bias, lack of transparency, and inadequate communication during the appraisal process. These perceptions significantly affect employee morale, motivation, and trust in management. The study recommends that Anudu Plastic Factory review its appraisal criteria, improve communication, and provide regular feedback to ensure fairness and employee acceptance of performance evaluations. 
MARKET ORIENTATION STRATEGY AND MARKETING PERFORMANCE OF TELECOMMUNICATIONS ORGANIZATIONS IN ENUGU STATE NIGERIA
No full textThis study examined the effect of market orientation strategy on marketing performance of telecommunication organizations in Enugu state Nigeria. The study was quantitative in nature and adopted correlational research design. The population of the study was staff of telecommunications organizations in Enugu state, Nigeria. The Sample size of the study was 384 staff of telecommunications organizations in Enugu state selected using purposive sampling. The instrument of data collection was a structured questionnaire. The structured questionnaire was validated using expert opinion while Cronbach alpha was used to test the reliability whereupon all the variables surpassed the accepted and recommended 6.0. Pearson product moment correlation coefficient and multiple regression analysis were used to analyze the data collected with the aid of Statistical Package for Social Sciences (SPSS. version 26.0). The results showed that all the five market orientation strategies understudy including: customers’ orientation, competitors’ orientation, inter-functional coordination, market intelligence generation and responsiveness have significant effect on marketing performance of telecommunications organizations in Enugu state Nigeria. The implication of this is that management of telecommunications organizations in Enugu state Nigeria should effectively coordinate all elements of market orientation for effective customer services delivery to meet changes in the market and improve their marketing performance.