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Assessment of Nigeria\u27s domestic debt sustainability
No full textThis paper attempts to measure the sustainable domestic debt stock level of the Federal Government of Nigeria over a period of time. This is necessary, considering the growing proportion of the cost of domestic debt service in Federal Government total expenditure. The paper addresses definitional issues about domestic debt and domestic debt sustainability relative to national output as well as the necessary policy implications. It also examined the causes, size and growth, sources and structure. Using the budget constraint model relative to GDP, the paper concludes that under the current fiscal stance of primary deficit, the Federal Government domestic debt is not sustainable. In order to achieve sustainability of domestic debt, the paper emphasized the need for the Federal Government to achieve primary surpluses of not below 0.9 percent in the next five years, as well as improvement in the growth rate of the economy, fiscal reforms and a more efficient domestic debt management through domestic debt restructuring
Debugging and sanitizing the Nigerian financial system.
No full textUsing a concentric circle analysis, the paper provides a framework for examining the centrality of the borrower/ user or manager of funds in the stability of the financial system. The paper advocated among others, the rejuvenation of the value system, involvement of banks in project ideas and packaging, institutionalization and implementation of bankruptcy law as well as application of incentives and sanctions
Welcome address: seminar on current economic reforms in Nigeria: the case of deregulating the downstream petroleum subsector
No full textThis is the welcome address by P. O. Okonkwor, Branch Controller, Central Bank of Nigeria, Ilorin, at the In-house seminar on “current economic reforms in Nigeria: the case of deregulating the downstream petroleum subsector’’ for CBN Executive Staff, Ilorin, October 25-29, 2004
Employment creation and opportunities in the manufacturing sub-sector: The case for neem tree in Nigeria.
No full textNeem, (Azadirachta indica A Juss) commonly called Dogonyaro in Nigeria, belongs to the Mahogany family Meliaceae. It is one of the most versatile and ecofriendly trees and is widely distributed in South Asia and parts of Africa including Nigeria. This paper examines opportunities in the manufacture of Neem based products, investment profile of neem based pesticide commercial plant, products, organic fertilizer production and neem enterprise development in Nigeria. The study conclude that the reality of the benefits of Neem has been brought to the knowledge of Nigerians by no other than the President and Commander-in-Chief of the Armed Forces of Nigeria when on 20\u27n April, 2004, he Presided over a meeting with selected Governors, Ministers, his key officials, a few Government Agencies and an international Company interested in investing on Neem in the country. The development of a neem enterprise industry is likely to lead to a huge extension in tree planting by small peasant farmers who would now know that they would not have to wait for 10 to 1 5 years for the tree to develop as in other forestry projects
Employment creation and opportunities in the manufacturing sub-sector: The case for the manufacturing of cotton, textile in Nigeria.
No full textNigeria is the third largest producer of cotton in Africa after Egypt and Sudan. Cotton growing zones are mainly in the Northern parts of the country, though the planting of cotton started in Western Nigeria. This paper focusses on the manufacture of cotton, textile in Nigeria, sources of material available, the equipment required, manpower, the land space required, the capital outlay and Profitability of the business. The paper concludes that from the financial result of the above analysis, the project is economically viable and technically feasible. Neem Seeds as Raw Materials is in abundance and can be sourced at lower cost than estimated since no established outfit is currently utilizing it in the country. Market is available and the processing technology is simple as seed oil extraction is not a new technology in the country
Investment in soap production.
No full textSoap production business is in the group of industrial ventures that could easily be operated on a small scale to boost the country\u27s economic development. This paper focusses on the Product, market information, raw materials for making soap, Standard Organization of Nigeria (SON) regulations for soap, production process, machinery and equipment requirement, proposed production programme. manpower requirement, space requirement and estimated total capital requirement. The study conclude that the project requires the services of both skilled and unskilled labour. For the capacity recommended, the following labour force is required: one Production Manager, six Production Assistants, twelve Factory Operators, two Marketing Assistants, one Account Clerk, one Administrative Assistant, one Cashier, one Secretary/ Typist and two Security men
Rozlyn Coleman, Confronting budget deficits IMF Economic Issues No. 3, 2000: a review.
No full textThe document is based on the fiscal operations of major industrial countries and presents a major concern that it is not the size of the budget as a ratio of the gross domestic product (GDP) that matters, but the persistence of budgetary shortfalls during long periods of peace, when governments traditionally offset their debts and save for the future
The role of foreign direct investment and natural resources in economic development by Jose De Gregorio: a review
No full textThe paper analyzed the role of Foreign Direct Investment (FDI) and discussed the part played by natural resources in economic growth. Some of the issues regarding FDI in developing countries were considered, particularly, two issues highlighted in recent discussions and research. The first was whether and through which channels FDI affects economic growth. The second was the impact on economic growth of the exploitation of natural resources, normally developed by foreign investors. The policy implications regarding the treatment of FDI in developing countries were examined
Financial sector development and economic growth in Nigeria: an empirical investigation
No full textIn this paper, a single equation econometric model is specified to assess the impact of the Nigerian financial sector on economic growth. In recognition of the key role the financial sector plays in economic development, the paper recommends the sustenance of distress resolution initiatives, adequate capitalization of the banks, reduction of government dominance in the credit market, and a comprehensive approach to financial sector surveillance
Employment generation and opportunities in the manufacturing sub-sector. The case for the manufacturing of farm implements.
No full textThe modernization of agriculture has the potential to achieve the various objectives of creating employment, increasing productivity and output in both the sector and the entire economy, thus contributing to the food security goal of the government. This paper aims primarily at examining the prospects as well as the processes of manufacturing agricultural implements with a view to encouraging small/medium entrepreneurs to engage in the ventures. It examines the manufacturing activities of farm implements. It analyses the role which governments should play as well as highlighting the potential benefits of the enterprises. The paper conclude that given the stage of development where agriculture has to be modernized to meet the food and raw material needs of the economy, the prospects for agricultural implement manufacturing cannot be in doubt. Similarly, the potential for employment generation appears to be fairly high, as show by the experience of other small and medium scale enterprises. It is important, however, that favourable environment be provided for the enterprises in the sub-sector. These include access to fund in the public and private sector finance houses, domestic production of the relevant steel materials from the steel complex, appropriate guidelines to maintain standards, market accessibility, among others. Government intervention may also be required to protect the market against cheap importation of the products