4 research outputs found
MICROFINANCE AND INCOME LEVEL IN NIGERIA
No full textIn underdeveloped nations, microfinance has drawn a lot of attention as an effective tool for reducing poverty and promoting economic empowerment as potent stimulators of income level. This is achieved through channelization of credit to the poor and unbanked segment of the economy to help them engage in new productive business activities or to sustain or expand existing ones. This paper examines the relationship between microfinance banks activities and income level in Nigeria, using per capita income (PCI) as the dependent variable, and microfinance banks activities such as loan and advances (LADV), deposit mobilization (TDEP) and other non-banking financial activities (NBFIN) as independent variables. The research adopted quantitative design and employed regression analysis in analysing the effect of microfinance bank activities on income level in Nigeria between 1995 to 2022. The findings were that the activities of microfinance banks account for more than 53% of the variation in per capita income. The paper thus concluded that these institutions make financial markets accessible to individuals and households so they can finance investments and boost their per capita income. It recommends that microfinance banks should seek to mobilize deposits from the underserved demography of the economy to help the economically active but underserved segment of Nigerian society raise their standard of living
MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA
No full textThe need to establish the role of institutional factors in the impact of mortgage finance on housing development in Nigeria creates the necessity for this study. This study examines the interacting effect of institutional factors in the relationship between mortgage finance and housing development. Quarterly data on housing delivery, mortgage finance and institutional and economic factors were sourced from the Central Bank of Nigeria statistical bulletin, Federal Mortgage Bank of Nigeria audited report and World Governance Indicator between 2005 to 2022. Empirical analysis was conducted using the Autoregressive Distributed Lag (ARDL) model. The research found a negative and significant (at 10% level of significance) interacting effect of institutional factors in the relationship between mortgage interest (coeff.;-1.967: p-value;0.0734) and housing development, while institutional factors render the effect of mortgage loan and mortgage equity on housing delivery insignificant. The paper concludes that the interaction of institutional factors such as government effectiveness, corruption, regulatory framework, rule of law among others, downplays the efficacy of mortgage finance in causing housing development in the short run and recommends a strengthened institutional framework that guarantees stringent anti-corruption measures, transparent mortgage application and approval process, and expedited bureaucratic processes, to enhance accessibility of mortgage finance
MORTGAGE FINANCE, MACROECONOMIC FACTORS AND HOUSING DEVELOPMENT IN NIGERIA
No full textDespite the critical role of housing as a component of economic growth and social stability, literatures has shown that housing development in Nigeria can be constrained by lack of long term financing, as well as macroeconomic factors. This study examines the intricate relationships between mortgage finance, housing development and the interactive effect of macroeconomic factors in Nigeria. This research employs data on housing delivery, mortgage finance and macroeconomic factors, sourced from the Central Bank of Nigeria (CBN) statistical bulletin and Federal Mortgage Bank of Nigeria (FMBN) annual audited report between 2005 to 2022. The research adopt an expos factor and experimental descriptive design. Pre-estimation test such as unit root test and Bound test were employed to test for stationarity and cointegration. Empirical analysis was conducted using the Autoregressive Distributed Lag (ARDL) model. Findings from this study revealed that mortgage loan interaction variable have a very weak positive effect on housing delivery in the long run, with a coefficient of 0.005230 (p-value; 0.0005), mortgage equity’s negative effect was also reduced in the long run, with a coefficient of -0.001611 (p-value; 0.0268). Mortgage interest rate was also found to have a reduced negative effect on housing delivery in the long run, with a coefficient of -0.005316 (p value; 0.0003). The research concludes that macroeconomic factors’ interaction with mortgage finance negatively affects changes in housing delivery. Consequently, the research recommends that policymakers implement holistic measures to stabilize the economy, while incentivizing mortgage lending to guarantees access to adequate and affordable housing for Nigeria’s growing populatio
OWNERSHIP ATTRIBUTES AND FIRM VALUE: EVIDENCE FROM LISTED NON-FINANCIAL FIRMS IN NIGERIA
No full textThe volatile macroeconomic environment in which listed non-financial firms operate in Nigeria has posed many challenges to firm value maximisation due to policy inconsistencies, governance imbalance from ownership configuration, investors’ confidence-related issues, regulatory barriers among others. Hence, this study investigates the impact of ownership attributes on firm value of listed non-financial firms in Nigeria. The study adopted a longitudinal research design and the data of 84 sampled listed non-financial companies were extracted from the annual reports and market data websites. Panel generalised least square regression was employed to analyse the data obtained and the results exhibited that foreign ownership (?=0.1183, p-value = 0.000), institutional ownership (? = 0.5511, p-value = 0.000), managerial ownership (? = 0.2206, p-value = 0.031) and ownership concentration (? = 0.1181, p-value = 0.007) are all significant at 5% significant level, The study concluded that ownership attributes enhance the firm value of listed non-financial firms in Nigeria; thus, it was recommended that sustainable value-creation strategies should be adopted in balancing all forms of ownership attributes among listed non-financial firms in order to enhance firm value
