2020 Archive
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Title: INSURANCE SECTOR AND THE NIGERIA ECONOMIC PERFORMANCE (1995-2017).pdf Author: Onorah, Okafor & Osiegbu Abstract: Abstract The paper examined insurance sector and economic performance in Nigeria spanning from1995-2017. Time Series data was sourced from CBN Statistical Bulletin, CBN Supervisory Annual Report and World Bank Development Indicators (2017) for the periods under review which was considered reliable for the study. The Statistical regression technique employed was E-views version 9. The study showed that all the independent variables (Insurance Investment (IIV), Life Insurance Premium (LIP), Non-Life Insurance Premium (NLIP)) and Interest Rate (INTR have significant effect on the economy in Nigeria (proxy by Human Development Index (HDI)) and Gross Domestic Product (GDP)except Insurance Claim (ICL) Inflation Rate (INFR).Therefore recommended that government should through Central Bank Nigeria CBN implement policies that will encourage the public to engage their surplus funds in insurance activities. Also that, management of insurance companies should endeavor to develop rigorous and robust policies of life insurance that will enable large amount of the population of Nigeria to take part in life insurance contracts. Key-Words: Insurance Sector, Economy, Population, Central Bank of Nigeria, Human Development Index View |
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Title: DETERMINANTS OF BANK PROFITABILITY IN NIGERIA A DYNAMIC PANEL GMM APPROACH.pdf Author: JAMES AGBEKEME SARAKIRI (PhD) Abstract: Abstract Given that the Nigerian banking sector has undergone rounds of far-reaching reforms in recent times, examining the impact of some key variables on bank profitability in Nigeria would help to evaluate the extent of success recorded by these reforms. This study examines two efficiency ratios: cost to income ratio and net interest margin, and their relative impacts on bank profitability measured by returns on both average equity and average assets using the dynamic panel GMM framework. The empirical analysis is based on panel data obtained from 11 listed banks covering the period from 2010 to 2019. The results show that both cost to income ratio and net interest margin are negatively related to bank profitability. Although, the coefficients associated with these variables are not statistically significant, they are quite substantial, suggesting that they have economic implications. Also, the results show that profitability of banks in Nigeria has been quite persistent, indicating to a large extent that the degree of competitiveness among them is relatively low. However, judging from the standpoint of asset base, our results also indicate that larger banks are less profitable than smaller ones, though the associated negative coefficients are relatively low signifying weak explanatory power. Key words: Return on average equity, Return on average assets, Cost to income ratio, Net interest margin, Panel data framework. View |
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Title: RISK ASSET MANAGEMENT AND BANK PERFORMANCE IN NIGERIA.pdf Author: EHIEDU, VICTOR CHUKWUNWEIKE (PhD) Abstract: Abstract The primary aim of this investigation is to establish the impact of asset and risk management on bank performance in Nigeria. The scope of this research is narrowed to ten (10) Nigeria deposit money banks which are: Diamond Bank Plc, FCMB Plc, Fidelity Bank Plc, First Bank of Nigeria, Plc, GTB Plc, Skye Bank Plc, UBA Plc, Union Bank Plc, Wema Bank Plc and Zenith Bank Plc within the period 2004-2019 (15 years). Secondary data obtained from banks’ annual reports under study were used. The technique of analysis was linear regression using SPSS 22.0 version. Hypotheses were tested using 0.05 level of significance, and if the level of significance/p-value of the t-statistics is bigger than 0.05 level of significance, the null hypothesis is accepted. The results showed that returns on equity and loans and advances was statistically significant on Nigeria deposit money banks’ profitability because the p-value was greater than 95% confidence level but less than 5% significant level, while returns on asset was not statistically significant on profitability of Nigerian deposit money banks since the p-value was smaller than 95% confidence level but greater than 5% significant level. Therefore, we recommend that Directors and board members should advise shareholders to continue to increase their level of equity investment so as to enable the bank have a large fund that it can trade with to generate increasing revenue, they can also encourage investors by issuing right issue and bonus shares. Finally, deposit money banks should consider other ways to enhance the quality of its assets so that it can improve bank performance. Key Words: Asset and Risk Management, Bank Performance, Returns on Equity, Loans and Advances, Returns on Asset View |
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Title: AGRICULTURAL CREDIT GUARANTEE SCHEME AND THE GROWTH OF AGRICULTURAL BUSINESS PRODUCTION IN NIGERIA.pdf Author: ANTHONY O. ODITA (PhD) Abstract: Abstract This study is examined the impact of Agricultural Credit Guarantee Scheme (ACGS) on growth of agricultural business production in Nigeria for the period 1981 to 2016. Secondary data of Agricultural Credit Guarantee Scheme (ACGS) loans to Individual Farm Producers (LIP), loans to Informal Group (LIG), loans to Co-operative Farm Producers (LCP), and loans to Commercial Farm Producers (LCFP) as explanatory variables to capture Agricultural Credit Guarantee Scheme (ACGS) and Agriculture production share in Gross Domestic Product (ABP) as dependent variable and measure of agric business production were used for the study. These data were obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin of various publications. The data was analyzed using Ordinary Least Square method of regression analysis. The study revealed that ACGS loans to Informal Groups (LIG), ACGS loans to Cooperative Farmers (LCP) and ACGS loans to Commercial Farmers (LCFP) do not have significant impact on growth agric production. On the other hand, the variable, ACGS loans to individual farmers (LIP) as revealed by the regression result proved to have significant impact on growth of agric production (ABP). It was recommended that more loanable funds should be made available to individual farmers (for commercial purposes), as ACGS loans to individual farmers can be used to formulate policies that can impact significantly on agric production and economic growth in Nigeria. Further recommendation made was that, all economic stakeholders, monetary and regulatory authorities; both at the public and private sector of the economy should combine efforts and formulate policies aimed at improving financial inter-mediation, in the area of providing adequate credit to farmers in Nigeria. This will eventually lead to the achievement of a favourable productive-based economy and viable growth of GDP in the country. Keywords: Agricultural Credit Guarantee Scheme, Agric Business Production, Individual Farm Producers, Co-operative Farm Producers, Commercial Farm Producers View |
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Title: TELECOMMUTING SYSTEM AND SERVICE DELIVERY OF OIL AND GAS COMPANIES IN LAGOS STATE NIGERIA.pdf Author: Ibini, Emueje & Izims, Tochi Abstract: Abstract The major objective of the study is to examine the effect of telecommuting system on service delivery of oil and gas companies in Lagos State, Nigeria. Cross sectional survey research design was used for the study. Out of the total population of 547 employees, 217 respondents were selected as the sample size for the study. The sampling method that was employed in this study was stratified random sampling. Data for the study was gathered from primary source. Structured questionnaire was employed to obtain relevant data from the respondents. The statistical techniques used include descriptive statistics and multiple regression analysis. The study found that information and communication technology (ICT) and flexible working arrangement (FWA) has significant positive relationship with service delivery, and job autonomy has no significant relationship with service delivery. The study concluded that telecommuting system has positive effect on service delivery. Flexible working arrangement has the highest positive effect on service delivery of oil and gas companies in Lagos State. Therefore, it was recommended that companies should ensure that they provide information and communication technology infrastructures that will aid service delivery. More alternative work arrangements like job sharing, part time etc can also be provided to telecommuters in order to enhance service delivery. Keywords: Telecommuting system, Service Delivery, Information and Communication Technology, Flexible Working Arrangement, Job Autonomy View |
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Title: IS GOLD HEDGE OR SAFE HAVEN ASSET EVIDENCE FROM INTERNATIONAL STOCK MARKETS.pdf Author: Dasauki M.C., Obiakor R. T., Edy-Ewoh U., Okedina I. M., & Nnaji N.K; Abstract: Abstract The study applied Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model, and Threshold Asymmetric GARCH (T-GARCH)model of Glosten, Jagannathan, and Runkle (1993) to examine if Gold is a safe haven or hedging asset in relation to international stock markets indices of the 5 largest gold consuming counties in the World.Monthly data from 2000-2018 is applied. The result indicates that gold is negatively correlated and not statistically significant with the stock market index of Turkey and Germany. Indicating that the stock market index of Turkey and Germany do not impact the returns on gold, thus Gold can act as a hedging asset. India, China and USA have positive correlation with the returns on gold. Nonetheless, they are not statistically significant at 5% level of significance. There is presence of significant leverage effect. The T-GARCH indicate presence of Asymmetry as positive shock leads to higher volatility compared to negative shocks of the same magnitude. Keywords: Hedge; Safe Haven Stock Market; GARCH; T-GARCH View |
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Title: EMPIRICAL ANALYSIS OF THE CORRELATION BETWEEN EXCHANGE RATE DEREGULATION AND............................pdf Author: UDEGBULE C. STANLEY Abstract: Abstract Over the years, the role of exchange rate on the Nigerian Gross Domestic Product (GDP), specifically agricultural produce has been an issue. This paper investigates the correlation between exchange rate deregulation and the agricultural share of GDP in Nigeria. The research work employs econometric tools, using time series data covering a period of twenty one (21) years (1990 – 2011). The Augmented Dickey Fuller test, the unrestricted vector Auto regression, the Pairwise Granger casualty and Vector Error Correction model were utilized to analyse data obtained from Exchange Rate (EXR) and Gross Domestic Product (GDP). The following results were obtained from the study; (i) there was a unidirectional casualty from exchange rate to agricultural share of GDP and (ii) there was a negative influence on agricultural share of GDP in Nigeria. The implication of the above result is that, a floating exchange rate policy over the years has been having economically not-friendly trend in agricultural share of the GDP in Nigeria. The study, therefore, recommends that financial authorities, specifically, the Central Bank of Nigeria (CBN) should cautiously monitor the trend of the Foreign Exchange Market, especially the market-driven exchange rate policy. Keyword: Agriculture, Exchange Rate, Deregulation GDP View |
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Title: KNOWLEDGE MANAGEMENT AND ENTREPRENEURIAL INNOVATIVENESS OF SMALL AND MEDIUM ENTERPRISES (SMEs) IN RIVERS STATE NIGERIA.pdf Author: .E. Chikwe, Ph.D & O.L. Chikwe, Ph.D Abstract: Abstract The study fundamentally and empirically examined the relationship between knowledge management and entrepreneurial innovativeness of small and medium enterprises in Rivers State, Nigeria, as the saying goes that “knowledge is power”, and the need to explore the management that will enhance entrepreneurial innovativeness cannot be over emphasized. The specific objectives include the examination of the impact of critical and creative thinking as dimensions of knowledge management, on entrepreneurial innovativeness. Cross sectional research design was adopted. Likert 5-point code measure was used in the questionnaire design. Ten industries registered with the Rivers State Ministry of Trade and Commerce were statistically selected in the survey, and 112 statistically selected respondents holding strategic positions participated. Pearson’s correlations statistic at 0.05 level of significance was used to test the posited hypotheses, with the aid of Statistical Package for Social Science. Findings revealed that strong positive and statistical significant relationship exist (p View |
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Title: CAPITAL MARKET AND ECONOMIC GROWTH IN NIGERIA A COMPARATIVE ANALYSIS OF PRE........pdf Author: Williams Harley Tega., Ayodele Thomas Duro & Akinyede Oyinlola M. Abstract: Abstract This study seeks to evaluate the contribution of capital market to the economic growth in Nigeria using a time series data from 1999 to 2017. The main aim of the study is to investigate if total market capitalization before and after the introduction of Central Security Clearing System in the capital market affect economic growth in Nigeria. To achieve this objective, an econometric model was formulated and an Ordinary Least Square method was used in the study. The annual time series data used in the study were adjusted with the Jarque-Bera test of normality to remove spurious OLS regression result. The findings revealed that market capitalization has a positive effect on economic growth in the post Central Security Clearing System and a negative effect in the pre Central Security Clearing System and the coefficient of determination in the post Central Security Clearing System is very high when compared to the pre. The t-calculated value for Market Capitalization (MCAP) is 0.5895 in the post Central Security Clearing System and when compared with 5% statistical value (0.5895>0.05, it indicates that the alternative hypothesis should be accepted and also that market capitalization in the post central clearing system affect economic growth in Nigeria. Keywords: capital market, economic growth, regression, central security clearing system. View |
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Title: BOARD CHARACTERISTICS AND FINANCIAL PERFORMANCE OF MONEY DEPOSIT BANKS IN NIGERIA.pdf Author: Sebastine Abhus Ogbaisi & Kenneth Ogbeide Enoruwa Abstract: Abstract The study examined board characteristics and financial performance of money deposit banks in Nigeria using board size and board composition as proxies of board characteristics and return on assets as proxy of financial performance of money deposit banks. The study used a sample of 13 quoted banks among the 15 banks quoted on the floor of the Nigerian Stock Exchange as at December 31st, 2019 for the period of 5 years (2015-2019) due to the availability of data. The study employed multiple regression technique for the data analysis with the help of EViews 11.0 econometric software. The study revealed that board size and board composition are positively significant to financial performance of money deposit banks in Nigeria. This connotes that increase in board size and increase in the number of non-executive directors sitting on the board will go a long way in increasing the financial performance of money deposit banks in Nigeria. The study recommends that regulatory authorities should ensure the increase in the number of persons sitting on the board and they should also ensure the increase in the number of non-executive directors sitting on the board since they are likely to bring their knowledge, expertise and integrity to bear in enhancing the financial performance of money deposit banks in Nigeria. Keywords: Board Size, Board Composition, Money Deposit Banks and Financial Performance. View |
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Title: ECONOMIC DOWNTURN AND LIVELIHOOD SUSTAINABILITY IN NIGERIA COPING WITH THE DAYS OF AFUSAL.pdf Author: Bosede A. (PhD), Temitope A. (PhD), Rasheed O. (PhD), George O. (PhD) & Mathew A. Abstract: Abstract An economic downturn occurs when there is decline in economic gross domestic product (GDP) for at least two consecutive quarters as well as fall in employment, industrial/manufacturing output, retail sales, per capital income. Little or no studies have concentrated on impacts of economic recession, their sustainability and coping strategies among paid workers in Nigeria, hence, this study. Data were obtained using a structured questionnaire to elicit information from the respondents’ socioeconomic characteristics, perceived effects of modulated salaries on sustainability and the coping strategies. Quota sampling technique was used to randomly drew a total sample of 1,200 selected across senatorial districts in Osun State. Descriptive statistics such as frequency counts, percentages and means were used to carried out exploratory data analysis (EDA) and ANOVA were used to analyze the data. The results showed that virtually all areas of livelihood of the people are affected by the economic downturn (school fee, food, health, furniture, social, utilities, and house rent were greatly affected and that there is significant change in the livelihood strategies of the household in the face of economic downturn determined by one-way ANOVA (F(6,7) = 46.49, p = .000027) with ANOVA statistics in excess of 40, and probability values near zero. In addition, 28.49% of the respondents sought assistance from their various families as a survival means. Furthermore, over 25% went into farming while over 21% either obtained loan from friends or went into petty trading. The findings of this study can be used to generate or improve policies aimed at encouraging and enlightening those in paid employment on different ways of diversifying their livelihoods in order to reduce economic and social risks in the face of subsequent shocks. Key words: economic downturn; coping strategies; half salary; sustainability View |
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Title: ONLINE STORES AND CUSTOMER TRAFFIC IN ORGANIC FOOD FIRMS IN PORT-HARCOURT.pdf Author: Bright Zorbari-Nwitambu & Ikechukwu Francis Asiegbu Abstract: Abstract The aim of this paper was to investigate the nexus between online stores and customer traffic among organic products firms in Port Harcourt. It has been observed that few consumers buy organic products through online stores, notwithstanding the fact that organic products easily deteriorate, and hence, need to be quickly moved from the farm to consumption ends. Primary data, collected through structured questionnaire, from 160 managers of (40) organic product firms in Port Harcourt, together with secondary data from same, were analysed using the Pearson Product Moment Correlation Coefficient aided with the Statistical Package for Social Sciences, version 25.0. The outcome of analysis indicated significant positive relationship between online stores and customer traffic. This paper, therefore, recommends that organic firms in Port Harcourt that want to beef up their sale performance can achieve this, indirectly, by attracting high level of customer traffic through the adoption of online stores. Keywords: Customer traffic, Online stores, Organic products, Physical distribution, Sales performance View |
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Title: A REVIEW OF THE IMPLICATIONS OF THE NIGERIA-CHINA CURRENCY SWAP.pdf Author: Dania Evelyn Ndidi (PhD) Abstract: Abstract This study theoretically reviewed the Bilateral Currency Swap Agreement (BCSA) between Nigeria and China. The main objective of the study is to review the positive and negative implications of .the Bilateral Currency Swap Agreement (BCSA) between Nigeria and China. The secondary source and content analysis was used for the review. From the results it is clear that the transaction has a lot of benefits like liquidity for Nigerian businesses, mitigating dollar volatility, improve trade flow from China into Nigeria etc. It also has some negative effects like: making Nigeria a dumping ground, worsen trade balance between Nigeria and China, killing of infant industries etc. It is advised that the Nigerian government should review its export policies to avoid Nigeria being a dumping ground for China goods as China is an aggressive exporter while Nigeria is an aggressive importer. Keyword: Currency, Swap, Fluctuation , Bilateral, Investment. View |
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Title: NON-OIL REVENUES AND ECONOMIC DEVELOPMENT IN NIGERIA A HUMAN DEVELOPMENT PERSPECTIVE.pdf Author: Eniekezimene, Daniel Esetebafa., Nwinee Barisua Fortune & Nnamdi, Ikechukwu Samuel Abstract: Abstract This study seeks to evaluate the extent to which non-oil revenues in Nigeria influence her economic development, using human development index as a key indicator of development. Statistical techniques employed include stationarity, Johansens Co-integration, error correction, and Granger causality tests. The results showed that personal income tax per capita has a positive and significant influence on Nigeria’s human development index. Company income tax per capita displays a positive and insignificant influence on human development index even at lag one, while capital gains tax per capita demonstrates a negative and insignificant influence on the human development index at both current and one year lag. Customs and excise duties per capita indicate an inverse and insignificant influence on the human development index while royalty income per capita shows a negative and insignificant influence on the Nigeria’s human development index at both current and one-year lags. In the light of these findings, the study recommends that; Personal income tax revenue collections should be increased through proper linkage of Nigerias taxable adults vital information like national identity card particularly with bank verification numbers and the individual potential payers bank accounts details for assessment purposes in order to minimize tax evasion and avoidance. Keywords: Non-oil Revenue, Company Income Tax, Human Development Index, Economic Development. View |