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Report on Retail Price Indices of Selected Consumer Items in the Lagos Area - Second Quarter, 1986
No full textThis report highlights the results obtained from the bi-monthly survey of selected consumer items, carried out in the Lagos area during the second quarter of 1986. Accordingly, Section 1 discusses the retail price indices of the selected -commodities, while Section II focusses on inter-market price variations. Section III summarises the report and suggests some measures to check excessive high prices
The Impact of River Basin Development Authorities on Nigerian Agriculture: A Case Study of Niger River Basin Development Authority
No full textThe paper traced the history of water resource development in Nigeria, and assessed the impact of the Niger River Basin Development Authority (NRBDA) on crop production in the region. The analysis of available data showed that although the NRBDA\u27s activities resulted in improvements in crop yields, and farm incomes of beneficiaries, the impact on regional output and area cultivated was marginal since it accrued to only very few farmers. Moreover, the cost of generating such increments was outrageously high when compared to the incremental costs incurred by alternative development institutions in respect of similar activities. The NRBDA was not without its problems, among which were the adoption of inappropriate technologies which resulted in under utilisation of installed capacity and generated enormous negative externalties, financial constraints, poor management practices and marketing arrangements. The concluding remark stressed the need to re-examine the current River Basin Development approach to water resource development for agricultural purposes in Nigeria
Unemployment and Economic Development in Nigeria - Analysis and Policy Implications
No full textThis paper discusses the dynamics of the unemployment problem within the development perspective of a post-independent Nigeria. It is argued that while successive governments seemed to have recognised the problem, the solutions so far adopted have resulted in mere palliatives. Several factors accounting for unemployment have included: colonialism and the white-collar job syndrome, choice of technique in industries, structure of economic organisation, migration patterns, urbanisation, population growth, educational structure, and business cycles. Of the possible consequences of unemployment, the study highlights those having social, health, political and economic dimensions such as stress, suicide, parasuicide, armed robbery, coup d\u27etats, inflation, etc. Based on the findings obtained, recommendations are offered which hopefully would mitigate the unemployment problem in the short-run, while depressing it to a natural rate in the long-run
The private sector and Nigeria\u27s agricultural development by Adeniyi Osuntogun and Rex Uzo Ugorji (eds.): book review
No full textThis book is a collection of twenty-six (26) papers presented at the First National Seminar on The Role of the Private Sector in Nigerian Agriculture , organised by the Agricultural and Rural Management Training Institute, Ilorin in October, 1983. This book can be said to be a very useful volume. This is because it contains information which will be useful to both the public and private sectors particularly at this critical period of renewed emphasis on agricultural development and efforts by government to get the private sector to be more involved in the development of the agricultural sector. Book Details: Osuntogun, Adeniyi and Rex Uzo Ugorji (eds.) The private sector and Nigeria’s agricultural development, Agricultural and Rural Management Training Institute (ARMTI), Ilorin, 1984; 298pp
Promoting money market development in Nigeria (1960-1985)
No full textThis article reviews arguments on the part of the monetary authorities to promote a money market in Nigeria. It discusses conceptual issues of definition, structure and role of the market, idealising the working of the system under normal conditions. An examination of the evolution of the market in Nigeria is also carried out with a view to ascertaining the extent to which it approximates reality. In the process, both successes and failures of the market are highlighted. The study ends with suggestions as to how the scope of the market could be enlarged to enable it to meet the economic challenges of the times
Specification and estimation of demand and supply functions of commercial banks\u27 loans and advances in Nigeria: 1961 – 1983: Comments
No full textThe main objective of the paper, according to the author, is to specify and estimate the demand and supply functions of commercial banks loans and advances with a view to identifying those factors that influence both variables in Nigeria. The study\u27s conclusion is also very crucial. All economic variables theoretically justified as explanatory variables of the demand and supply functions are not supported by the study as appropriate explanatory variables. The study thus negates all theoretical claims without any suggestion of what variables should explain these important dependent variables
An Appraisal of Public Sector Financing of Agricultural Development in Africa with Particular Reference to Nigeria
No full textThe paper discusses, largely using Nigeria as a case study, three sets of issues relating to public sector role in agricultural financing. First, it takes an overview of the agricultural situation in African countries in general and in Nigeria in particular in the last twenty years and suggests the critical factors that should guide government activities for agricultural financing in the light of the general structure of agricultural production. Second, it identifies the types and magnitudes of government assistance in agricultural financing in Nigeria and finally it discusses some of the main problems surrounding the efforts of the government in the financing of agricultural development in Nigeria and suggests possible solutions
Developments in Nigeria\u27s External Sector during the Second Quarter of 1986
No full textDevelopments in Nigeria\u27s external sector during the second quarter of 1986 continued to be a cause of concern. The foreign exchange position worsened compared with the preceding quarter\u27s as the price of crude petroleum - Nigeria\u27s major foreign exchange earner - fell farther in the world oil market. Faced with dwindling foreign exchange resources and increasing inability to meet current commitments, a formal approach was made to Nigeria\u27s external creditors late in March to reschedule part of the long and medium term debt falling due for payment. Although no agreement was reached, the commercial banks grouped under the London Club granted Nigeria a 90-day moratorium on debt service with effect from April l, 1986
Developments in Nigeria\u27s External Sector during the Third Quarter of 1986
No full textNigeria\u27s external transactions during the third quarter of 1986 resulted in a net inflow of N466.9 million in contrast with the net outflows of N25 million at the end of the preceding quarter and N247.1 million during the third quarter of 1985 (See Table 1). The apparent tum-around, did not, however, reflect any real improvement in the country\u27s tight foreign exchange situation. In fact, outstanding arrears on current transactions at the end of the quarter showed an increase over the level at the end of the second quarter. The net inflow figure therefore was largely the result of administrative measures aimed at limiting outflows to a certain desired level. Also Nigeria was able to secure an extension to the moratorium on debt repayment which was agreed to by the country\u27s creditors with effect from April 1, 1986 for an initial period of 90 days
Report on Price Indices of Ordinary Shares Quoted on the Nigerian Stock Exchange (NSE) for the Second Quarter of 1986
No full textThis report highlights developments in share trading on the Nigerian Stock Exchange during the second quarter of 1986. Accordingly, Section I discusses the volume of transactions in equity trading, while Section II focusses on the sectoral and sub-sectoral price indices.\u27 Fluctuations in actual prices are treated in Section III, while Section IV summarises the report