Madonna University, Nigeria - Open Access Journal System
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A POLITICAL ECONOMY OF NIGERIA’S QUEST FOR INTERNATIONAL TRADE AND GLOBAL MARKET: AN ARGUMENT FOR WEST AFRICAN REGIONAL MARKET, 2015 - 2023
No full textThis paper investigated the political economy of Nigeria’s quest for international trade and global market in the prism of contemporary time leveraging on the domestic industries and trade among the developing economies of West African Countries and the global market for analysis. That said, the study assessed the relevance of Nigeria championing a global argument for West African Regional trade at the global market through the WTO. To realize this objective, Comparative Advantage, Standard Custom Union and ‘Regional Mercantilism’ theories were used as the study framework. Data were collected from secondary sources and inferential statistics of computed simple percentage table drawn out from data collated from secondary sources were used for analysis. The findings are that trade openness alone cannot boost the progress of growth on the political economy of market and trade in the developing economy of West Africa, and the adoption of trade protectionism measures by West African states against imports from outside their regional bloc would likely trigger a trade war. From the findings, one among the three recommendations put forward is the imperative for the Nigerian government to lead and champion the argument to the international trade regime to grant West African Regional market and trade some privileges to practice some mercantilist policies and attitudes which is believed will accrue the gains of international trade from the highly competitive global market to the West African sub-regional markets and econom
HOW DOES INTEREST RATE AFFECT CREDIT TO PRIVATE SECTOR IN NIGERIA?
No full textThe price of money, interest rate, is a known intermediary in the demand and supply of money. Credit to private sector provided by the banks, as a form of money, thus reacts to changes in interest rate. The persistent absence of a clear pattern of interaction between interest rate and credit to private sector in Nigeria questions the inverse relationship expected a priori, suggesting the flagging influence of interest rate. The confounding effects of other factors appear to also be indicated. Employing data from World Bank’s World Development Indicators and Central Bank of Nigeria’s Statistical Bulletin, this study explored the relationship between interest rate and credit to private sector from 1989 to 2023 using ARDL methodology. A contra to a priori relationship was found, as feared. Fundamental expansion of the supply side through institutional measures was recommended. Attention was called to the challenges of the rule of law which in particular can provide a safe operating environment for lenders, borrowers and the entire society
EFFECT OF INTERNATIONAL TRADE ON THE GROSS DOMESTIC PRODUCT (GDP) OF NIGERIA (1987-2023)
No full textThis study examines the influence of international trade on Nigeria’s Gross Domestic Product growth from 1987 to 2023. The specific objectives are to ascertain the effects of imports, exports and external reserves on Nigeria’s Gross Domestic Product. The study utilized an ex post facto research design, which implies that the researcher cannot manipulate or influence the outcome of the research. A time series analysis was used, employing imports, exports and foreign reserves as key variables. The research seeks to quantify the effects of these trade indicators on GDP growth, offering insights into the role of international trade in driving economic performance in Nigeria. The study shows that while imports and external reserves had a positive effect on GDP, exports had a negative but statistically insignificant effect on GDP. The study concluded that though external reserves did not immediately show a significant positive influence in the lagged period, they remain a key driver of economic growth in Nigeria
ADDRESSING POVERTY AND INSECURITY: A HOLISTIC APPROACH TO SUSTAINABLE DEVELOPMENT IN NIGERIA
No full textAbstract The paper investigates the intertwined issues of poverty and insecurity in Nigeria, emphasizing a holistic approach necessary for sustainable development. Nigeria faces significant challenges, including high poverty levels and widespread insecurity, which impede progress and stability. Utilizing content analysis, the research aims to identify the root causes of these issues, evaluate the effectiveness of existing policies and propose comprehensive strategies for sustainable development that can alleviate poverty and enhance security. The study draws on Political Economy Theory to examine the political, economic and social factors influencing poverty and insecurity in the country, leading to a deeper understanding of their complex dynamics. The findings suggest that tackling poverty and insecurity mandates a multi-faceted approach that recognizes their interconnectedness, facilitating sustainable development. The paper concludes by stressing the significance of a holistic strategy in addressing these critical issues. By implementing sustainable development initiatives that account for the interplay of various factors, Nigeria can make substantial strides in reducing poverty and improving security for its citizens. Key recommendations include prioritizing inclusive economic growth, enhancing social protection programs and establishing effective governance mechanisms to foster sustainable development throughout the country
MAINSTREAMING ECONOMIC, SOCIAL AND CULTURAL RIGHTS INTO NATIONAL INTEGRATION EQUATION: LEGAL OPTIONS AND LIMITS
No full textThis paper discusses the Economic, Social and Cultural rights encapsulated in Chapter II of the 1999 constitution (as amended) especially the socio-economic rights regarding education, housing, decent working conditions, health care, decent wages, decent working conditions. This paper further discussed the provisions of S.6 (6) (c) of the 1999 constitution which rendered the provisions of chapter II of Nigeria Constitution, 1999 non-justiciable thereby rendering its enforceability impotent. The stand of this paper is that that there are limitations of mainstreaming Economic, Social and Cultural Rights (ESCRs) into national integration equation, but contend that in spite of the seeming impossibility of enforcement of provisions of chapter II of the constitution, the chapter 11 rights posed by the said limitations that the ESCRs can be enforced by other means. This paper therefore recommends plausible ways of circumventing the legal limitations posed by non-justiciable provisions of the constitution and this among other means include through judicial, legislative actions and kindred provisions in the chapter IV of the Constitution
Cloud Computing Skills Required in the Green Computing World: A Case Study of Computer and Robotics Education Department, University of Nigeria, Nsukka
No full textGreen computing implies the practice of environmentally responsible and efficient use of computing resources while maintaining economic viability and improving its performance in eco-friendly way. This paper aims to present main approaches of Cloud computing skills required in the green computing world through showing the latest solutions and energy efficient practices in computing world. This article focuses on the use, disposal, design and manufacturing as well as on technology based-solutions like electronic products and services in cloud and green computing. Green computing should promote computer education for conducive environmentally friendly awareness and useful tool for creating solution to green cloud technology. The study reveals the skills required in cloud computing; and the methods of implementing green computing. Study adopted descriptive survey research design. The population for this Study is 20 students. Structured questionnaire will be used for data collection The questionnaire was face validated by two lecturers from the Department of Computer and Robotics Education Department. The data collected from the respondents were analysed using descriptive and inferential statistical methods. The finding also shows that Cloud computing skills required in the green computing world are required and also, Cloud computing skills required in the green computing world are required by the students of Computer and Robotics Education Department, University of Nigeria, Nsukk
Analysis of Robotics in Pharmaceutical and Medicinal Food Manufacturing Industry in the Smart Manufacturing
No full textThis paper provides an in-depth analysis of the pivotal role of robotics in the pharmaceutical and medicinal food manufacturing industry within the broad framework of smart manufacturing. With a specific focus on the production and packaging processes, the study extrapolates the efficiency, precision, and hygiene benefits made possible by the incorporation of robotic systems in these industries. The objective of this analysis is to underscore the strategic importance of robotics in the evolution and transformation of the pharmaceutical and medicinal food manufacturing industry, while highlighting potential areas for further improvement and augmentation. The paper further sheds light on how automated systems ensure standardized quality, reduce possible human errors and contamination risks, and aid in performing complex tasks. Additionally, the research illustrates how smart manufacturing, encompassing elements such as Industry 4.0, Internet of Things (IoT), and data analytics, further enhances quality control, process optimization, and traceability in the production line. Evidence is presented on increased productivity, reduced downtime, and improved workers’ safety. However, the challenges of high initial investment costs, system interoperability, and the need for specialized skills for operation and maintenance are also explored
Needed Competencies by STM Education Teachers in the Development of Entrepreneurial Skills in Science Education in Students in Nigeria
No full textThe study investigated needed competencies by STM Education Teachers in the development of entrepreneurial skills in science education students in Nigeria. 123 STM teachers were randomly sampled from Onitsha North, South and Ogbaru L.G.A. 6,5and 4 schools were randomly sampled from Onitsha North, South and Ogbaru respectively and were used as subjects for the study. The subjects responded to a 36-item questionnaire in the needed competencies by the teachers for the development of entrepreneurial skills in students. Mean was used to answer the research questions. The findings of the study revealed that competencies and skills such as: Software Application, Production, Networking, Risk-taking ability, Machine Operation Skills among others were identified as needed for the development of entrepreneurial skills in students. Based on the findings, it was recommended that STME curriculum should be redesigned to include pedagogical content knowledge and entrepreneurship skill acquisition. STM teachers should update their knowledge on modern skills through conferences, seminars and worksho
Skill Acquisition as Correlate of Creation of Employment Opportunities in the Digital Era Amongst Business Education Graduates in Anambra State
No full textThe study investigates skill acquisition as correlate of creation of employment opportunities in the digital era among business education graduates in Anambra State. Three research questions and three null hypotheses guided the study. The study adopted a correlational research design. The population the study comprised 133 business educators in public tertiary institution in Anambra State. There was no sampling because the population was manageable. The instrument for data collection was a structured questionnaire. The reliability of instrument was established using Cronbach alpha statistics that yielded total alpha value of 0.80. Pearson Product Moment correlation was used to analyzed both the research questions and the null hypotheses at 0.05 level of significance. The results revealed that the correlation coefficient between entrepreneurship skills acquisition and creation of employment opportunities is .820 which is positive but very high relationship. It therefore means that the relationship between entrepreneurship skills acquisition and creation of employment opportunities in the digital era among business education graduates in Anambra State is positively very high. It also showed that the coefficient value obtained for ICT skills acquisition and creation of employment opportunities is .740 which indicates positive but high relationship. It therefore means that the relationship between ICT skill acquisition and creation of employment opportunities in the digital era among business education graduates in Anambra State is positively high. The result finally revealed that the correlation coefficient between technical skills acquisition and creation of employment opportunities is .820 which is positive but very high relationship. It therefore means that the relationship between technical skills acquisition and creation of employment opportunities in the digital era among business education graduates in Anambra State is positively very high. Based on the findings, it was recommended that attention should be given more on practical especially on entrepreneurial courses in the curriculum to avenue students more opportunity to acquire the necessary skills needed to create employment opportunities; and ICT skills should equally be given adequate attention in business education curriculum to enable students acquire the salient skills needed to excel in the world of work
The Sacredness of Life and the Right to Die A Christocentric Review of the Euthanasia Questions in Postcolonial Nigeria
No full textEuthanasia is a complex global issue and a sensitive theme in the field of ethics, philosophy, law, religion and bio-ethics with no clear global consensus. This is not unconnected with the fact that the core of the euthanasia controversy is human life. Prompted by the apparent disregard for the human life in today’s society and the grave implications of any attempt to legalize euthanasia in Postcolonial Nigeria, this paper explores the euthanasia questions in contemporary academic discourse in Nigeria. Its goal is to review the euthanasia debate through the lens of ‘Christocentric humanisation. Employing a qualitative ethnographic approach, the paper highlights that, healing, saving, and protecting lives as well as making sure that harm is not done to life is the goal of medicine. It reiterates also, that in the traditional Nigerian socio-philosophical worldview, life is seen as sacred and must be protected. The paper conclude on the above notes that euthanasia is an attack on human life; and that arguments for its legalization is a distorted notion which undermines the sacredness of human life and destroys our solidarity with our fellow humans. The paper therefore recommends that, euthanasia should not be encouraged especially by the Nigerian law