Nnamdi Azikiwe University Journals
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An Analysis of the Effect of Fuel Subsidy Removal on Residential Location Preferences among Middle-Income Earners in Abuja, Nigeria
No full textThe removal of fuel subsidies in Nigeria has resulted in spectacular socio-economic change that has implications for middle-income households, particularly in urban areas such as Abuja. This research examines the policy reform\u27s impact on choice of residential location, with particular emphasis on the wider implications for household decision-making in a context of increasing fuel prices. The research seeks to evaluate the impact of fuel subsidy removal on house choice, travel behavior, and welfare of middle income earners in Abuja. Hypotheses were formulated on the impact of subsidy removal on residential choice, the moderating effect of socio-demographic characteristics, and migration towards lower-cost residential zones. A mixed-method strategy was used in data collection. 300 copies of structured questionnaire were administered to middle-income earners resident in different neighborhoods of Abuja, out of which 208 questionnaires were duly completed and retrieved. Findings indicate a strong negative correlation between Fuel subsidy removal and residential choice of location, and with respondents demanding more low-cost housing. Socio-demographic factors, including age and earnings, also work towards mediating such tastes. Proper planning and policy action are proposed to redress such concerns by the study in favor of measures like low-cost housing development, enhanced public transport, and directed subsidy options. Policymakers must include these factors while planning towards a more inclusive cityscape responsive to the concerns of middle-income residents changing in line with economic transformation. Further research is called for to explore long-term impacts and other controls on household decision in the changing urban environment
IS THERE REASONABLE BALANCE BETWEEN NIGERIA’S PUBLIC EXPENDITURES AND ECONOMIC PERFORMANCE?
No full textWhile the federal government continues to intensify its effort towards resuscitating the economy, which no doubt, has equally resulted in the unprecedented increase in the nation’s annual public expenditures, the spate of mismanagement of this same scarce financial resources remains worrisome. In view of this, the study investigated the effect of government public expenditures on the economic performance of Nigeria with due emphasis on growth. Specifically, the study ascertained the extent of effect of capital expenditure and recurrent expenditure on the gross domestic product of Nigeria. Data from the Central Bank of Nigeria\u27s Statistical Bulletins since the return of Nigeria to democratic rule (1999 – 2023) was utilized and subjected to further statistical analysis. As a result, the Ordinary Least Squares (OLS) regression method was employed to test the relevant hypotheses formulated. The findings revealed that: capital expenditure has a negative and non-significant effect on the gross domestic product (GDP) of Nigeria (b = -1.615543; p-value = 0.5374); the size of Nigeria’s recurrent expenditure has a positive and significant unhealthy effect on the gross domestic product (GDP) of Nigeria (b = 17.75409; p-value = 0.0000). In conclusion, while recurrent expenditure maintained a damaging posture towards the nation’s GDP growth possibilities perhaps due to the high external borrowings habitually taken by successive administrations in Nigeria from time to time to run personnel and administrative costs cum high cost of governance, the size of the nation’s capital expenditure overtime has failed to demonstrate a positive effect, thus also reflecting potential inefficiencies in its implementation. The study therefore recommended that the Presidency and the National Assembly should reassess the nation’s utilization of scarce financial resources, especially the external borrowed funds, ensuring that more of these are not only allocated to capital expenditures but should focus more on improving its efficiency amidst targeting high-impact productive sectors that promises commendable revenue contributions for effective debt servicing and economic sufficienc
 
INSTITUTIONAL TRAITS AND SUSTAINABILITY DISCLOSURES OF LISTED MANUFACTURING COMPANIES IN NIGERIA
No full textThe study presents empirical evidence on Institutional traits and sustainability disclosures of listed Manufacturing companies in Nigeria using annual financial report data for the period 2012-2023. In order to determine the relationship between Institutional traits and non-financial disclosures, the researcher used the ex-post facto research design. The target population comprised 13 companies in the Industrial Sector listed on the Nigerian Exchange Group. The study adopted the Ex-post facto, the data were tested using skewness and kurtosis statistic and analyzed using unit root test, co-integration test, vector error correction model and Panel Least Square Regression analysis via E-Views to compute data from line and bottom-line items in financial statements. Content analysis was used to measure Effluent disclosures. Firm Size has a significantly impact on effluent disclosure of listed manufacturing companies in Nigeria
IMPACT OF CORPORATE TAX PLANNING ON FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA
No full textThe study assessed the impact of corporate tax planning on financial performance of listed consumer goods firms in Nigeria. The study employed a causal research design. The population comprised 21 listed consumer goods firms on the Nigerian Exchange Group (NGX) as at 31st December, 2024. A sample size of 16 listed consumer goods firms was selected, and secondary data were obtained from annual reports covering the period from 2015 to 2024. Descriptive, correlation and regression analyses were conducted. The findings of the study show that Effective Tax Rate (ETR) and Cash Effective Tax Rate (CETR) have insignificant impact on the financial performance of listed consumer goods firms in Nigeria. The research concluded that the Effective Tax Rate (ETR) and Cash Effective Tax Rate (CETR), do not have a statistically significant influence on the financial performance of listed consumer goods firms in Nigeria. The study recommended the management of listed consumer goods firms in Nigeria should avoid overreliance on reducing Effective Tax Rate (ETR) and Cash Effective Tax Rate (CETR) as a strategy to enhance firm financial performance. Instead, they should focus on strengthening internal operations, minimizing costs, and improving product competitiveness
EFFECT OF SOCIAL, HUMAN AND INTELLECTUAL CAPITAL DISCLOSURES ON MARKET CAPITALIZATION OF LISTED COMPANIES ON THE NIGERIAN EXCHANGE GROUP
No full textThe study sought to determine the effect of social, human and intellectual capital disclosure on market capitalization of listed companies on Nigerian Exchange Group. The study was specifically to ascertain the effect of social capital disclosure, human capital disclosure and intellectual capital disclosure on market capitalization of listed companies on Nigerian Exchange Group. The research design adopted for this study was ex post facto research design. The population of the study was made up of one hundred and fifty-eight (158) companies listed on the Nigerian Exchange Group as at 31st December 2023. The study used purposive sampling technique to select the sample size of one hundred and sixteen (116) listed companies. The tool used for analysis was ordinary least square regression. Apart from intellectual capital disclosure, the social capital disclosure and human capital disclosure had significant effect on market capitalization of listed companies on Nigerian Exchange Group. The study recommended among others that since human capital disclosure had a significant effect on market capitalization, therefore; the policymakers should encourage initiatives that promote employees’ development, diversity, inclusion and disclose information about their human capital practices. Since the finding showed also that social capital disclosures had significant effect on market capitalization, it is recommended that management should continue to encourage organization’s value and culture that will promote positive staff-to-staff relationship, management-to- staff relationship, organization-to-community relationship as well as organization-to-stakeholders relationship. In-as-much-as intellectual capital disclosure did not have any significant effect on market capitalization, the study recommended that policymakers assess if current disclosure requirements effectively captured intellectual capital\u27s value. Management should continue to manage and develop intellectual capital disclosure, even if market capitalization is not directly impacted.
 
MODERATING EFFECT OF SHAREHOLDERS ACTIVISM ON THE RELATIONSHIP BETWEEN EXECUTIVE COMPENSATION AND DIVIDEND PAYOUT RATIO OF LISTED INSURANCE FIRMS IN NIGERIA
No full textThe debate over how executive compensation influences corporate outcomes remains central in finance and governance literature. This study examined the moderating effect of shareholder activism on the relationship between executive compensation and dividend payout ratio of listed insurance firms in Nigeria. Specifically, the study assessed the effects of CEO compensation, highest paid director’s compensation, and total directors’ fees on dividend payout, while also considering the role of shareholder activism. The study adopted an ex-post facto research design and utilized panel data drawn from the annual reports of 14 listed insurance firms in Nigeria between 2013 and 2023. Executive compensation was decomposed into CEO compensation, highest paid director’s compensation, and total directors’ fees, while dividend payout ratio served as the dependent variable. Shareholder activism was introduced as a moderating variable. Data were analyzed using panel regression models with interaction terms to capture moderation effects. The results revealed that CEO compensation has a positive and significant effect on dividend payout ratio (β = 0.082, p < 0.05), while the compensation of the highest paid director exerts a negative and significant effect (β = -0.065, p < 0.05). Total directors’ fees showed a positive and significant influence on dividend payout (β = 0.054, p < 0.05). Shareholder activism exerted a direct positive effect on dividend payout (β = 0.090, p < 0.01) and moderated the relationships asymmetrically: strengthening the positive link between CEO compensation and dividend payout, amplifying the negative effect of highest paid director compensation, and exerting a positive but insignificant moderating effect on total directors’ fees. The study concludes that executive compensation structures significantly shape dividend policy in Nigerian insurance firms and that shareholder activism serves as a critical governance mechanism that reinforces or constrains these effects. The study recommends that regulatory bodies such as the National Insurance Commission (NAICOM) and the SEC enforce pay-for-performance disclosure frameworks, cap non-CEO director remuneration, and institutionalize shareholder engagement in compensation and dividend decisions. These measures will enhance governance quality, protect shareholder interests, and promote sustainable value creation in the Nigerian insurance industry
EFFECT OF SUSTAINABILITY REPORTING ON FINANCIAL PERFORMANCE OF LISTED NON-FINANCIAL FIRMS IN NIGERIA
No full textThe study evaluated the effect of sustainability reporting on financial performances of non financial firms listed in Nigeria. Specifically, the study ascertained the effect of economic sustainability reporting practices on financial performance of listed non-financial firms in Nigeria. It further analyzed the effect of social sustainability reporting practice on financial performance of listed non-financial firms in Nigeria. Sampling a total of 55 non financial firms selected from ten sectors, the secondary data collated from the firms’ audited annual report of 2015 – 2024 were subjected to relevant hypotheses analysis using Robust Least Squares Regression Model operated with E-Views 12. It was found that Economic sustainability reporting has a positive and significant effect on financial performance of listed non-financial firms in Nigeria (β = 1.11; p = 0.0000). Moreso, the study discovered that Social sustainability reporting has a positive and significant effect on financial performance of listed non-financial firms in Nigeria (β = 0.27; p = 0.0000).). In conclusion, there is evolving expectations within Nigeria\u27s investment and regulatory environment, where stakeholders now regard sustainability disclosures as indicators of operational efficiency, risk mitigation, and future profitability. The study recommends that Executives should institutionalize regular and comprehensive reporting on economic contributions—such as value-added statements, local sourcing, employee compensation, and infrastructure investments—to demonstrate long-term financial resilience and value creation to investors and regulators. Also, the HR and CSR units should design measurable social programs—such as employee development schemes, community health initiatives, and inclusive workplace policies—and ensure their timely disclosure in annual reports to reflect the firm’s commitment to societal well-being and its alignment with stakeholder expectations
HUMAN RESOURCE ACCOUNTING AND FINANCIAL PERFORMANCE OF SELECTED MANUFACTURING FIRMS IN NIGERIA
No full textThe essence of this work is to examine human resource accounting and financial performance of selected manufacturing firms in Nigeria from 2014 to 2024. Human resource accounting was disaggregated into staff training and development, salaries and welfare and pension cost while Return on investment, profit after tax and return on assets were used as proxies for the performance of the selected manufacturing firms. The objectives of the study were developed along the line of the identified variables. Nine hypotheses were formulated in line with the objectives of the study and secondary data were collected for the variables based on the assertions of the hypotheses. The data were analyzed using multiple regression analysis, ordinary least square model (OLS) and t-statistics employed in testing the hypotheses. It was observed that, human resource has significant effect on the financial performance of manufacturing firms in Nigeria. Staff Training & Development cost has positive and insignificant effect on return on investment (ROI)., while staff Training & Development cost has negative and significant effect on profit after tax (PAT) and return on assets (ROA). Pension cost has negative and significant effect on return on investment (ROI) and positive and insignificant effect on profit after tax (PAT) and return on assets (ROA-). The study recommended that firms should consider cost benefit approach in their recruitment, training and employee welfare development in order not to lower the company’s profit.
 
Promoting The Development of Technoprenuership Competencies Among Business Education Students Through Effective Curriculum Implementation
No full textThis study focused on promoting the development of technopreneurship competencies among Business Education students through effective curriculum implementation. Two research questions guided the study, and two null hypotheses were tested at the 0.05 level of significance. A descriptive survey research design was adopted. The population consisted of 58 business educators from three higher institutions in Imo State. A validated questionnaire with reliability coefficient of 0.86 was used for data collection. Mean and standard deviation were used to analyse research questions, while the t-test was used to test the null hypotheses. The findings of the study revealed the identified technopreneurship competencie
Adoption of Green Business Practices among Small and Medium-Scale Enterprises (SMEs) for Sustainable Development in Anambra State, Nigeria
No full textThis study examined the adoption of green business practices among Small and Medium-Scale Enterprises (SMEs) for the sustainable development of Anambra State, Nigeria. Two research questions and two null hypotheses guided the study, utilizing a descriptive survey research design. The population of the study comprised 2093 registered small and medium-scale enterprises (SMEs) in Anambra State, Nigeria. The sample size of 325 managers of SMEs was selected using Krejcie and Morgan (1970) Table for sample size determination. A-26 item structured questionnaire titled ‘Adoption of Green Business Practices among SMEs for Sustainable Development (AGBPSMEs-SD) was used for data collection. Face validity of the instrument was ascertained using opinions of three experts in Entrepreneurship Education and one expert from Measurement and Evaluation, while pilot testing of reliability of the instrument was conducted and analyzed using Cronbach alpha formula which yielded correlation coefficients of 0.81 and 0.89 for clusters B1 and B2 with overall reliability index of 0.85 obtained. Mean and standard deviation were used to answer the two research questions, while an independent t-test was used to test the null hypotheses at 0.05 level of significance. Findings revealed that managers of SMEs in Anambra State do not adopt the majority of green business practices examined for the sustainable development of the state. Managers of SMEs agree that the barriers examined hinder their adoption of green business practices. It was also revealed that the size of the business was a significant factor in their adoption of green business practices, while it did not influence their opinion on barriers hindering their adoption of green practices. Based on the findings of the study, the researcher concluded that SMEs in Anambra State are facing significant barriers that prevent them from fully adopting green business practices, thereby hindering their contribution to sustainable development within the State, region, and Nigeria in general. It was recommendedamong others, that Anambra State government should implement targeted educational programmes and workshops to increase SME managers\u27 understanding of the benefits of green business practices and their role in sustainable development. This should include practical examples and case studies relevant to the local contex