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Institutional and other constraints to non-oil exports.
No full textThis paper examines the non-oil exports sector in Nigeria which had witnessed a lacklustre performance despite the several statements of government\u27s interest in export-biased growth strategy and the establishment of several export facilitating institutions. The paper further observes that a major problem with Nigeria\u27s non-oil export sector is that it is not predicated on the design and implementation of appropriate and coherent economic policies as there is no clear export promotion blue print in Nigeria. Consequently, the sector is facing a number of institutional and other domestic and external problems. The remaining part of the paper briefly highlight some of the institutional constraints and other problems and policies (both internal and external) hampering the performance of the sector. The paper is concluded with summary, concluding remarks and policy proposals
Women involvement in food crop production, processing and Marketing in Nigeria
No full textThe paper examines the extent of involvement of women in food crop production, processing and marketing in a typical African locality. Appropriate statistical techniques were employed in the data analyses. The findings show that women are greatly involved in the production, processing and marketing of food crops, especially cassava, which is one of the staple foods in sub-Saharan Africa
Unemployment: concepts and issues.
No full textThe issue of persistent unemployment and overall manpower planning and utilization poses a great challenge to policy planners, human resources experts, and persons debating with employment programmed planning and implementation. Based on the experience of the NDE at promoting financial support for graduate employment promotion, there is a need for a sensitization programmed for public/commercial banks and other institutions on the need for lending to small and micro enterprises. This paper has examined Past policy measures for solving unemployment problems. There is strong need for institutional collaboration and improved coordination of policy measures for dealing with unemployment. It is evident that, the glaring disparities in the statistics by the advanced countries and that of Nigeria are traceable to differences in definition, concept and methodologies used to generate data. As a result of the peculiar nature of the Nigerian economy as well as most developing countries, where informal sector is large, the concept and definition would definitely differ and should take into account the socio-economic situation in each country. Since those in the informal and agricultural sectors are able to subsist from their income, they are excluded from the unemployed. They could be regarded as underemployed
Off-shore borrowing and guarantees by banks: Implication for portfolio management.
No full textThe subject I have been asked to reflect on is important and somewhat provocative given the potential significance of foreign capital in the development process and the implied doubt the topic raises about the capacity of banks to manage their portfolios on accessing external finance. With regard to financing tenors, it is pertinent to point out that the tenor of liabilities of most banks in Nigeria and Africa is short. The paper has focused on the various discussions about the conditions for good governance, which raises questions about the structure and functioning of the state, its relationship to society and its actual and potential role in promoting development
Encouraging growth to reduce poverty in Nigeria
No full textThis paper discusses the challenge of poverty reduction in Nigeria from the macroeconomic perspective. It argues that the country\u27s growth performance needs to be improved substantially in order to raise standards of living to appreciable level and achieve a visible reduction in poverty. A broad range of economic and social indicators of growth is utilized to explain the unsatisfactory growth performance in the past. The essence of our argument is that macroeconomic policy inconsistencies, structural bottlenecks, and institutional deficiencies have increased the risk of investing in Nigeria both by local and foreign investors, undermined growth, and militated against poverty reduction objectives. It concludes that a systematic attack on poverty would be difficult with the current total debt stock
Keynote Address
No full textThis is a keynote address delivered at the seminar with the theme poverty alleviation: a more pragmatic approac
Creating an enabling environment for small-scale industries.
No full textThis paper explores how to create enabling environment for the development of small-scale industries (SSIs) which are globally noted for their immense contributions to development process and as engine of economic growth. The rest of the paper is divided into five sections. Section ll reviews the definition of SSls and highlights some relevant economic significance of SSls, Section lll reflects government\u27s past efforts in supporting the developments of SSIs in Nigeria. Section lV discusses SSls constraints while Section V dwells on the key policy issues for creating an enabling environment for SSls. Finally, Section Vl, provides the concluding remarks and suggestions
Emerging trends in external reserve management
No full textThis paper tries to identify some of the main trends in central Banks reserve management in recent years. lt describes some significant changes, which have taken place, with regard to the objectives and investment policies of central banks, while pointing out some elements that could noticeably slow or even reverse the trends identified. The study reveals reserve management has continued to evolve broadly in the areas of securitisation, return maximization, use of derivates and performance measurement. Secondly, in response to the increasing volatility of financial variables, central banks have at the same time continued to place emphasis on liquidity constraints
Institutional and regulatory in issues in pension system reforms country experiences and policy options
No full textIn this study, the pension in Nigeria, Tunisia and Zambia are examined against the background of the experiences of OECD and Latin American countries. The main finding is that pension systems in African countries suffer from poor institutional framework, limited scope of financial markets, and macroeconomic instability. In reforming pension systems, the fiscal and financial sector implications need to be efficiently managed in a sound regulatory framework so as to achieve the objectives of income growth and redistribution. The fiscal implication arises from the potential effect of a reformed system on government\u27s recurrent expenditure on wages and transfers, as well as government\u27s reliance on the mandatory purchase of treasury instruments by pension funds. The financial sector effect arises from the financial deepening that usually accompanies efficient and successful pension reforms. It is argued that the challenge that faces African countries is how to build and sustain the institutional capacity necessary to make pension reform successful. A gradual approach that starts from the building of fiscal and macroeconomic viability, technical, institutional and administrative capacity, while at the same time reforming existing system along the line of multi-pillar, defined contribution, funded system is recommended
Bank lending behaviour and economic growth: an empirical analysis with implication for monetary policy formulation in Nigeria
No full textPreliminary findings from the empirical analysis show that the banking sector has not supported real sector output growth in its lending policy. The combined effects of risk aversion and infrastructural problem in the real sector represent serious constraints on credit flow to the private sector and the sectors declining marginal product of capital. Overall, while the banking sector has indeed, succeeded in deposit mobilization, it has nevertheless, not done a good job in its intermediation functions. The analysis further reveals the presence of policy distortions in the system, and its negative influence on banks\u27 lending behaviour. The need to address these distortions cannot be overemphasized if banks are to resume their traditional role of economic development in Nigeria