Nigeria

Nigeria

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Entries on Nigeria

Industrialization and Economc Growth in Nigeria (1984-2013)

Industrialization and Economc Growth in Nigeria (1984-2013)

Uploaded by Dr. Adofu Ilemona

There are empirical evidences to show that relationship exists between the level of industrialization (manufacturing) and economic growth in Nigeria. Studies have identified a significant relationship between industrial sector output and per-capita incomes. Therefore, this study tries to investigate the correlation between industrialization and economic growth in Nigeria. The study made use of time series data 1984-20013, obtained from various CBN statistical bulletins. An OLS equation was used to estimate results gotten from E-view (version 4) econometric software. We found out that there is a strong but negative and insignificant relationship between industrialization and economic growth in Nigeria for the period under study. Nigeria’s industrial sector has not contributed significantly to economic growth in the last thirty years. Results from our regression show that government expenditure (GEXP), interest rate (INTR) and inflation rate (INFR) carries a negative value, implying that in the last three decades, these variables has not provided the necessary stimuli for economic growth in Nigeria. The study therefore suggests that, for industrialization to contribute significantly to economic growth, government should enhance its fiscal and monetary policy instruments, to favor industrialization. Also, emphasis should be placed on deregulation at the sub-sector level, to form a strong bloc, so that efficient and effective linkages between industrial sector and economic growth in Nigeria can be established. The privatization of the energy sector is paramount for the reduction of production cost, and an efficient transport infrastructure should be put in place. Also, local sourcing of raw materials should be encouraged

 
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Government Budgetary Allocation to the Agricultural Sector and Its Effects on Agricultural Output in Nigeria

Government Budgetary Allocation to the Agricultural Sector and Its Effects on Agricultural Output in Nigeria

Uploaded by Dr. Adofu Ilemona

The study, “Government Budgetary Allocation to the Agricultural Sector and its effect on Agricultural output in Nigeria”, is an attempt at highlighting the quantity and quality of national commitment (through public expenditure/budgetary allocation) to agricultural development over the years. Using government budgetary allocation to the agricultural sector and commercial bank credit to the agricultural sector as our explanatory variables, we examine the effect of government budgetary allocation to the agricultural sector on the output of the agricultural sector. Data were obtained from CBN’s Statistical Bulletin, and NBS’s Annual Abstract of Statistics. Employing the OLS regression technique, our results revealed that Budgetary Allocation to Agricultural Sector has significant effect on agricultural production in Nigeria, and that the relationship between them is strong, positive and significant. Thus, the study recommends that budgetary allocation to the agricultural sector should be increased and monitored, to guarantee food security, employment and overall economic growth and development in Nigeria.

 
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Foreign Direct Investment and Economic Growth in Nigeria (1980-2015).

Foreign Direct Investment and Economic Growth in Nigeria (1980-2015).

Uploaded by Dr. Adofu Ilemona

Economic growth and factors that determine it has been a conflicting debate mainly in developing countries. This paper strive to analyse the empirical and causal relationship between foreign direct investment, balance of payment, real exchange rate, investment rate, gross national savings and gross domestic product growth in Nigeria covering the period 1980 to 2015. It makes use of the Vector Error Correction Model approach and the Granger causality test. The results show that there is only one cointegrating equation. Taking into account a long term relationship, foreign direct investment, balance of payment and investment rate moves positively with GDP growth rate. Real exchange rate had a negative relationship with GDP growth rate. Furthermore, the Granger causality test revealed unidirectional influence from foreign direct investment and GDP growth, real exchange rate and GDP growth and investment rate to GDP growth. The study recommend a huge investment in public infrastructure such as rail, power, roads, education, health services, etc. because they are complementary to private investment which can increase the marginal product of private capital thereby enhancing growth.

 
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Financial Liberalization and Saving Mobilzation in Nigeria (1986-2013)

Financial Liberalization and Saving Mobilzation in Nigeria (1986-2013)

Uploaded by Dr. Adofu Ilemona

This study investigates the relationship between financial liberalization and domestic savings mobilization in Nigeria from the period 1986-2013. Using time series data and ordinary least square(OLS) regression analysis, this work provides an empirical insight into the relationship that exist between financial liberalization and domestic savings mobilization in Nigeria. The paper demonstrated that money supply and credit supply to private sector influences savings mobilization in Nigeria significantly, interest rate on savings and exchange rate were not significant in influencing savings mobilization. The paper therefore concludes that financial liberalization had minimal effect and the increase in interest rate through liberalization could not lead to an increase in domestic saving. The study therefore recommends macroeconomic stability, effective implementation of policies and programme and also effective interest rate management.

 
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Financial Deepening and Economic Growth in Nigeria (1986 – 2010)

Financial Deepening and Economic Growth in Nigeria (1986 – 2010)

Uploaded by Dr. Adofu Ilemona

This study empirically investigated the impact of financial deepening on economic growth in Nigeria between 1986 and 2010 using time series data sourced from the Central bank of Nigeria (CBN) statistical bulletin 2010 edition. This study employed the Vector Error Correction Mechanism (VECM) as well as the Johansen co-integration and granger causality tests and found out that causality runs from GDP to CBC and TDDC which means that economic growth causes financial deepening. Also, the findings of this study revealed that though GDP is affected by some variables of financial deepening yet past values of GDP have more impact on GDP than financial deepening. This study concluded by recommending that the productive base of the Nigerian economy should be strengthened and that saving mobilization by the commercial banks should be encourages and quantity of money in circulation should be increased.

 
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Determinants of Internally Generated Revenue in Nasarawa State, Nigeria (1997 – 2016)

Determinants of Internally Generated Revenue in Nasarawa State, Nigeria (1997 – 2016)

Uploaded by Dr. Adofu Ilemona

The study examines the determinants of Internally Generated Revenue (IGR) in Nasarawa State from 1997 – 2016. The study used secondary data and was obtained from the State Board of Internal Revenue Service and the State Ministry of Finance and Economic Development. A longitudinal research design was used in structuring the study. The data collected were subjected to Unit Root test to ascertain their stationarity. Regression model was employed to establish the relationship between the predictor and the explanatory variables, and correlation analysis was adopted to determine the direction and magnitude of the relationship. The results indicate that personal income tax, fines and fees, and licenses are the main determinants of IGR in state. The overall effect of the explanatory variables on the dependent variable is 98% as depicted the value of the r2. Hence, it was recommended that Nasarawa State Government should review their commitments to revenue generation through exploiting the sources of revenue in the state, Embark on sensitization and awareness campaigns to promote willingness of people to payment of statutory taxes and levies, government in their revenue thrive should also adopt and implement commercialization policy on abandoned government factories, and finally, government should computerize the entire assessment and collection to ensure efficiency and also ensure complete autonomy of the Board of Internal Revenue Services of the state.

 
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Confluence Journal of Economics and Allied Sciences   Volume 1 Number 1, July 2014

Confluence Journal of Economics and Allied Sciences Volume 1 Number 1, July 2014

Uploaded by Dr. Adofu Ilemona

The confluence Journal of Economics and Allied Sciences publish papers related to the economy and society in Africa bi-annually (July and December). The Journal focus on policy oriented papers including technical papers. The Journal receives Papers and articles from members of the academic institutions, research organizations, non-governmental organizations and independent researchers for consideration and possible publication in issues of the Journal.

 
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Confluence Journal Vol1 Issue 1

Confluence Journal Vol1 Issue 1

Uploaded by Dr. Adofu Ilemona

The confluence Journal of Economics and Allied Sciences publish papers related to the economy and society in Africa bi-annually (July and December). The Journal focus on policy oriented papers including technical papers. The Journal receives Papers and articles from members of the academic institutions, research organizations, non-governmental organizations and independent researchers for consideration and possible publication in issues of the Journal.

 
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An Evaluation of the Possible Remedies for Effective Functioning of the Bank of Agriculture

An Evaluation of the Possible Remedies for Effective Functioning of the Bank of Agriculture

Uploaded by Dr. Adofu Ilemona

The study evaluated the possible Remedies for the effective functioning of the Bank of Agriculture (BOA) in Kogi State, Nigeria. Using the food crop farmers as a case study, a multi-stage random sampling technique was used to select three agricultural zone in Kogi State ( zone A, B, and C).Primary data were collected through the use of structured questionnaire which were administered to farmers who are clients of BOA. The major tool of analysis is the Likert scale of analysis. The study find out that, strengthening of the group for better performance, establishing mechanism to protect farmers from undue competition for fund in BOA and establishing mechanism to check diversion of fund in BOA were seen by the respondents as most important strategies for sustainable and successful BOA service delivery to farmers in Kogi State. The study recommend that BOA should establish mechanism for monitoring of the progress and effect of BOA service delivery to farmers and enlightened farmers, especially in the rural are on the mandate of BOA.

 
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An Evaluation of the Factors Influencing the Amount of Loan Obtained by the Food Crop Farmers in Kogi State

An Evaluation of the Factors Influencing the Amount of Loan Obtained by the Food Crop Farmers in Kogi State

Uploaded by Dr. Adofu Ilemona

This study examines the factors influencing the output of food crop farmers loan beneficiaries of BOA in Kogi State, Nigeria. Using a multi-stage random sampling technique, three agricultural zones in Kogi State ( Zone A, B AND C) were chosen. Primary data were collected through the use of structured questionnaire which were administered to farmers who are clients of BOA. The major tools of data analysis were econometric and statistical techniques, such as means, percentages and regression. The sampled food crop farmers were mostly males. The literacy level of the food crop farmers’ loan beneficiaries was above average (69.45) and the mean years of experience of respondent was 18 years. The most important factors that influenced the output of food crop farmers’ loan beneficiaries are amount of loan obtained and household savings invested. The study recommend the need to emphasize on the major factors that influence the output of food crop farmers loan beneficiaries in drawing up agricultural policy for Nigeria.

 
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An Evaluation of the Possible Strategies for a Sustainable and Successful Bank of Agriculture (Boa) Service Delivery to Farmers in Nigeria: A Case Study of Food Crop Farmers in Kogi State.

An Evaluation of the Possible Strategies for a Sustainable and Successful Bank of Agriculture (Boa) Service Delivery to Farmers in Nigeria: A Case Study of Food Crop Farmers in Kogi State.

Uploaded by Dr. Adofu Ilemona

The study evaluated the possible strategies for a sustainable and successful Bank of Agriculture (BOA) service delivery to farmers in Kogi State, Nigeria. Using the food crop farmers as a case study, a multi-stage random sampling technique was used to select three agricultural zone in Kogi State ( zone A, B, and C).Primary data were collected through the use of structured questionnaire which were administered to farmers who are clients of NACRDB. The major tool of analysis is the Likert scale of analysis. The study find out that, strengthening of the group for better performance was seen by respondents as the most important strategy with mean score of 81.53 per cent. Establishing mechanism to protect the farmers from undue competition for fund in BOA was ranked second with a mean score of 80.28. Establishing mechanism to check diversion of fund in BOA with a mean score of 79.86 was ranked third. Privatization of BOA and BOA establishing farms instead of giving credit was ranked the least The study therefore recommends that The government and BOA should strategize for sustainable and successful BOA service delivery to farmers by strengthening the group for better performance and establishing mechanism to protect farmers from undue competition for fund as this was seen as someof the possible strategies for BOA service delivery to farmers in Nigeria.

 
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Alleviating Poverty Through the Use of Entrepreneurship Skill Acquisition in Kogi State, Nigeria

Alleviating Poverty Through the Use of Entrepreneurship Skill Acquisition in Kogi State, Nigeria

Uploaded by Dr. Adofu Ilemona

This study assessed the impact of entrepreneurship skill acquisition on poverty in Kogi State of Nigeria. The study made use of primary data collected with the aid of a well-structured questionnaire, which were administered by well-trained enumerator to beneficiaries of entrepreneurship acquisition skills randomly sampled from six Local Government Area of the state. The data collected through the questionnaire was analyzed using descriptive statistics like frequencies and percentages. The result shows that 65% of the respondents accepted that lack of entrepreneurship skills among youth is responsible for the high rate of poverty in Nigeria. The result also revealed that at least 60% of the people that benefitted from the skill acquisition programme can now afford the basic necessity of life. The study therefore recommended that since most of the people that benefited from the programme could afford the basic necessity of life, the government should begin to think of the way of developing the programme to the status of poverty eradication programme.

 
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