ECONOMIC AND BUSINESS REVIEW

Impact of fertilizer subsidy on farmers’ productivity

2023-01-18T11:09:10+00:00

This study investigates the extent to which access to fertilizer subsidy enhance farmers’ productivity in Lapai rural communities. A cross-sectional data were obtained through a structured questionnaire from 142 farmers and multiple regression analysis was applied on fertilizer subsidy, micro credit and farmers’ productivity. Finding shows that fertilizer subsidy and microcredit contributes to farmers’ productivity. Fertilizer subsidy contribution is more in rice than the maize productivity, as the rate of returns in rice is almost twice to that of maize production. The study therefore recommends further subsidy in the prices of fertilizers in order to ensure its affordability by all farmers, as well as, access to micro loans should be improved with removal of bureaucratic nature attached to obtaining loans in order to attract farmers to applying for loans.

Impact of foreign direct investment on Nigerian economy

2023-01-18T10:41:38+00:00

The study examined the impact of Foreign Direct Investment (FDI) on the growth of the Nigerian economy from 2010- Q2 2021. The aim is to investigate the impact of FDI in relation to other growth variables namely: External Debt (EXD), Domestic Investment (DI). Export (EXP) Inflation Rate (InfR) and Exchange rate (EXR) are the explanatory variables of the study on Gross Domestic Product (GDP) proxy for economic growth being the dependent variable. Data for the study were obtained from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) statistical bulletins. The data were analysed using E-view version 10.0. Results indicated that while DI, EXP and EXR have significance on GDP at a 10% level of significance, FDI, EXD and InfR showed a negative impact on GDP at the same level of significance. However, about 547 of the likely changes in GDP, growth in Nigeria is explained by a combination of the predicatory variables as indicated by the coefficient of determination (R)2 value of 0.544. The study recommended among others that domestic investment and the productive capacity of the nation should be encouraged. Also, the issue of insecurity in Nigeria should be sincerely tackled.

Trade liberalization and economic growth in Nigeria

2023-01-18T11:39:56+00:00

This study examined the impact of trade liberalization on economic growth in Nigeria. The general objective of the study was to find out if there is any effect of trade liberalization on economic growth in Nigeria. The study used ex-post facto research design and moreover, the ADF and Phillips-Perron unit root tests were used for the test of stationarity while the study employed ARDL – Bound test to test for the long run relationship between the variables. The scope of the study covered the period from 1981 – 2019, the variables used for the study were real economic growth as the dependent variable whereas total trade balance, total export trade, total import trade and exchange rate were used as the independent variables. To this point, the study found that a percent rise in total export trade brought about 0.84% increase in economic growth in Nigeria. One percent rise in total import trade brought about 0.59% decline in economic growth in Nigeria; whereas a percent rise in exchange rate brought about 0.31% decline in economic growth in Nigeria. However, the study recommended that government should try as much as possible to restrict importation of those goods and services that are locally produced in the country in order to avoid dumping of foreign goods and services as well as over dependent of imported goods and services in the country. Government should also try as much as possible to put up policies and programs targeted at increasing locally produced export-oriented goods and services in the country in order to increase more export of goods and services which will invariably lead to economic growth in the country.

Influence of brown envelope syndrome on journalism Practice in ebonyi state

2023-01-18T11:29:17+00:00

The study examines the influence brown envelope has on practicing journalists in Ebonyi State. The objectives of the study among others are to ascertain the level of knowledge of journalists on brown envelope syndrome, to ascertain the areas brown envelope syndrome are made manifest in the profession. The study was guided by two theories, the Social Responsibility Theory of the Press and the Cognitive Moral Development Theory. The study used Survey Research method. Two hundred and ninety-six copies of questionnaire were administered to registered journalists who were purposively selected in Ebonyi State. The findings of the study reveal that majority of the journalists are aware that brown envelope exists in the profession and it has become a common practice in the profession among others. Based on the findings, the study recommended that since majority of the journalists are aware of brown envelope syndrome, media bodies should be serious in maintaining ethics in the industry. The National Union of Journalists and other professional bodies should ensure that there is real unionism in the profession by ensuring that journalists’ rights are not trampled upon. Also, there should besound education and professional training of journalists in order to achieve true professionalism and curb brown envelope syndrome.

Impact of youth unemployment on economic growth in Nigeria

2023-01-18T11:23:33+00:00

This study investigated the impact of youth unemployment on economic growth in Nigeria. The study used time Series data from the World Development Indicators (WDI) 2020. The econometric technique adopted for this study is the autoregressive distributed lag model. The result of the ARDL bounds test suggests that there is no long run relationship between youth unemployment and economic growth in Nigeria. The study was subjected to both pre estimation and post estimation test. The study therefore recommended that the government should create more job opportunities, empowerment and enabling environment for youth to be more productive by making policies that is capable of reducing youth unemployment rate in the country. The study also recommended that the government should invest more in education by providing long lasting free education, build more girls schools, pay teachers at when due and provide adequate infrastructure so as to boost education, that quality education will provide female with employable skills so as to contribute effectively in the labour force.

Banking sector reform and the challenge of unemployment in Nigeria

2023-01-18T11:17:55+00:00

One of the paramount targets of any government all over the world is attaining high growth and employment rates. However, these constitute major challenges in Nigeria as economic growth has either remained stunted or stagnant and unemployment rate very high. The financial sector is expected to push up the real sector thereby lowering unemployment rate. Thisresearch work titled, “Banking sector reform and the challenges of unemployment in Nigeria”, seeks to recommend measures towards positioning the banking sector for employment creation. In carrying out this research work, data related to financial and macroeconomic activities were gathered, while OLS method of statistical analysis was also employed to analyze the data collected. The results showed that ROI and M2 are statistically significant on unemployment, but personal consumption expenditure and gross domestic product are not statistically significant. However, rate of interest, money supply and exchange rate were significant to influencing the rate of unemployment in Nigeria. The work therefore suggests that rate of interest; money supply and exchange rate should not be left absolutely to the dictate of the market forces as a means of reducing unemployment. It is therefore recommended that Government should initiate policies to foster the monetization and growth of financial transactions through the banks for stronger real sector of the economy to enable it solve the issue of unemployment among others.

Effect of leadership on employee performance in Olakleen Holdings Limited

2023-01-18T11:12:26+00:00

The study examined the effect of leadership on employee performance in Olakleen holdings Limited. Other studies had mostly examined leadership styles and orientations with different outcomes and findings. The study examined leadership as mentoring, charisma, influence and motivation, while employee performance was examined to include employee commitment, employee effectiveness, measurement of work related errors and customer satisfaction. Path goal theory and situational theory was considered relevant to this study because it deals with the fundamental objectives of the discourse and the contemporary overview of what leadership connotes. A total of 170 questionnaire was administered but 162 was returned and analysis was done with SPSS Statistical software version 26.0 and decision rule for accepting significant level for any relationship or differences tested was P<0.05 level of significant. Regression analysis was used to test the hypotheses in order to achieve the stated objectives. Findings from the study revealed that leadership is essential for employee performance and recommended that leaders should be more responsible and imbibe charismatic attitude and characters that will make them a mentor rather than a judge so that their sphere of influence on their followers will yield the right impetus that will motivate performance.

Impact of Human Capital Development on Economic Growth

2023-01-18T10:51:15+00:00

The study examined the impact of human capital development on economic growth in Nigeria from 1986 to 2019. The ex-post facto research design was adopted in the research. Multiple regression analysis was utilized in the study in which the co-integration test and Vector Error Correction Model (VECM) model were the methods of analysis employed in the analysis. The co-integration test was engaged to investigate the long-run equilibrium relationship among the variables, while the VECM was employed to examine the long-run relationship and short-run interactions among the variables. The variables analyzed in the study include gross domestic product as the dependent variable, while life expectancy, total government expenditure on education, total government expenditure on health, primary school enrollment, external debt and private domestic investment were employed as the independent variables. The results indicated evidence of a long-run equilibrium relationship among the variables. The estimation results showed that life expectancy and total government expenditure on health have a positive and significant impact on gross domestic product in Nigeria. Similarly, the results indicated that total government expenditure on education and primary school enrollment have a negative and significant influence on gross domestic product. Furthermore, the estimation results revealed that external debt and private domestic investment have a positive and insignificant influence on gross domestic product. Thus, since life expectancy has a positive and significant impact on economic growth in Nigeria, government should, as a matter of fact, formulate and implement human capital empowerment policies that ensure improvement in the standard of living of the citizenry in the country. Hence, improve good life of the citizens leading to higher life expectancy; the skills and knowledge acquired would be utilized in productive ventures, which will in turn, result in increase in economic growth in the economy. Based on the results, 1% increase in life expectancy brings about a 12.97% increase in economic growth in Nigeria.

Effect of tax farming on tax revenue collection in Nigeria

2023-01-18T10:35:51+00:00

The study appraised the effect of tax farming on tax revenue collection in Nigeria: evidence from Federal Inland Revenue Service of Nigeria. The study used monthly data obtained from Annual Accounts/Financial Statement for sixty months (2013-2018). The variables used in this study include: tax revenue payable into Federation Account (TRFPA); Value Added Tax (VAT); National Information Technology Development Levy (NITDL) and Tax Revenue Payable into Consolidated Account (TRPCA). The study adopted time series statistical analysis by using the technique of t-test suitable for analyzing structural break in policy. The study all the series to test of stationarity using the Augumented Dickey Fuller (ADF) test statistics to ensure the reliability and validity of the result obtained. Evidence from the result indicated that the series were stationary at level and free from producing misleading result. Furthermore, the result indicated positive significant difference in tax revenue payable into Federation Account (TRFPA) since the implementation of tax farming. The result also showed positive significant difference of VAT, NITDL and TRPCA collected by FIRS in Nigeria after tax farming during the period under study. Specifically, the findings showed that FIRS revenue increased significantly after tax farming implying that the policy was worthwhile since it contributed to the rise in revenue generation of FIRS. The study recommended the strengthening of the services of tax consultants to sustain the current momentum of revenue generation.

Effects of Fulani and Herdsman Farmers clashes on Agricultural development in Nigeria

2023-01-18T11:43:01+00:00

The research work is titled the effect of Fulani Herdsmen and Farmers clashes on agricultural development in Nigeria. The main objective of the study was to determine the effect of Fulani Herdsmen and Farmers clashes on agricultural development in Ukpabi-Nimbo Community in Enugu State, Nigeria. The specific objectives were to: determine the causes of Fulani – Herdsmen and farmers’ clashes in Ukpabi-Nimbo, Enugu State, investigate the social effects of the menace of Fulani – Herdsmen on farmers in Ukpabi-Nimbo, Enugu State and find out the economic effects of the threat of Fulani – Herdsmen on farmers in Ukpabi-Nimbo, Enugu State. The study employed survey design via descriptive method. Taro Yameni formula was used to determine the sample size of 399 respondents of Ukpabi-Nimbo in Uzo-Uwani Local Government. The researcher sourced materials through primary and secondary sources. The primary data include questionnaire distribution while secondary data include textbooks, journal, internet articles etc. Data collected were analyzed using simple table and percentage analysis while the hypotheses formulated were tested using SPSS (Statistical Package for Social Science) v. 23. The study found that: there is significant difference between farmers and Fulani perception of the causes of Fulani – Herdsmen and farmers clashes in Ukpabi-Nimbo, Enugu State; Fulani – Herdsmen menace has significant social effect on farmers in Ukpabi-Nimbo, Enugu State and Fulani – Herdsmen threat has significant economic effect on farmers in Ukpabi-Nimbo, Enugu State since the significance value (p-value) of 0.013, 0.020, 0.046 < 0.05 level of significant respectively. It therefore recommended that Both Federal and State government should engage peace and conflict resolution experts in dealing with issues concerning herdsmen-farmer clashes. This will enable effective dialogues, negotiations and of course a win-win resolution, while encouraging early warning mechanism.

Compay Income and Performance of Deposit Money Banks

2023-01-18T11:31:35+00:00

This study examined the impact of corporate taxation on the financial performance of deposit money banks in Nigeria from 2011 to 2020. The specific objectives of the study were to determine the impact of company income tax (CIT) and national information technology levy (NITDL) on the profit of deposit money banks in Nigeria. A sample consisting of 7 deposit money banks and cross sectional data were obtained from their annual reports and financial statements were used for the analysis. The econometric of analysis was Autoregressive Lag Modelling (ARDL) approach, informed by a mixed order of integration of the variables. The findings indicate that- in the short run, CIT was not only significant, but exerted a positive impact on profit for the year of deposit money banks; while in the long run, it exerted insignificant and positive impact. It also revealed that NITDL had positive and significant impact on profit for the year of deposit money banks both in short and long run. In view of these findings, the study recommends that the monetary authorities should review the countries’ fiscal policy to grant tax incentives to deposit money banks. This will surely increase the impact on profit for the year of deposit money banks in the long run. Again, the banks should pay their national information technology levy as at and when due, being the highest beneficiaries from information technology. This will enhance the impact of developments in information technology on the profit for the year of deposit money banks in Nigeria.

Determinants of Milk Supply to Formal Milk Markets among Dairy Farmers in Oyo and Kwara States, Nigeria

2023-01-18T11:25:40+00:00

The Nigeria dairy sector is the largest producer of cow milk in West Africa. Despite its size, the current milk production does not meet the annual market demand of 1.45 billion litres. This study was therefore designed to examine the determinants of milk supply by local dairy farmers to formal milk market in Kwara and Oyo States, Nigeria. The specific objectives of the study were to; examine the major factors influencing milk supply to the milk collection centers in the study area and to identify the constraints of milk supply to the formal market by the small scale milk farmers in the study area. Purposive and random sampling techniques were employed in selecting 238 respondents. The research instrument used was the interview schedule. The analytical tools employed were descriptive statistics, multiple regression analysis and likert type scale. The study showed that the determinants of milk supply to the milk collection centers by small-scale dairy farmers were distance to the collection centers, number of lactating cows, number of cattle, price of milk at the collection centers, years of dairy farming experience and access to market information. While lack of suitable breeds, cost of production, inadequate water supply, lack of milking parlor and inadequate credit, were the constraints facing the small-scale dairy farmers. The study therefore recommends that increase in use of modern production and processing technologies and genetic improvement of the local breeds should be encouraged for increased supply of milk to the formal milk markets.

Trade policies and industrial sector performance in Nigeria 1970 - 2019

2023-01-18T11:19:57+00:00

The study conducted an empirical investigation on the trade policies and industrial sector performance in Nigeria from 1970 to 2019. This research became necessary due to growth and decay in industrial sector despite various trade policies adopted to enhance the performance of the sector. To obtain the empirical results, various trade policy variables were utilized as explanatory variables. Multiple regression analysis was adopted in the study in which Auto Regressive Distributed Lag (ARDL) model was the major method of analysis. The ARDL bound test was employed to examine the short-run and long-run relationship between the variables under consideration. The ARDL bound test results indicated existence of a long-run relationship among the variables. The results also revealed that custom and excise duty has negative and significant impact on industrial output (IQ) in the short-run but in the long-run it has positive and insignificant influence on industrial performance. The results further indicated that non-oil export has negative and significant influence on the industrial output (IQ) in the short-run as well as in the long-run. And also interest rate has negative and insignificant impact on industrial output both in the short-run and in the long-run. However, the results revealed that trade openness has positive and significant influence on the industrial output growth in the short-run and in the long-run. Also, oil export has positive and significant influence on the growth of industrial output in the short-run and in the long-run. The result further shows that exchange rate has positive and insignificant impact on industrial growth in the short-run and in the long-run. These results imply that any policy instrument that raises custom and excise duty, nonoil export which was used as a proxy for export diversification and interest rate by 1% will lead to a decrease in industrial performance by 52%, 26% and 41% respectively in the short-run while, in the long-run a 1% increase in custom and excise duty will lead to 45% increase and a 1% increase in nonoil export and interest rate leads to 34% and 55% decrease in IQ respectively. It also implies that any trade policy that relies on the use of trade openness, oil export and exchange rate a 1% increase could lead to 36%, 39% and 7% increase in industrial output growth in the short-run and 48%, 52% and 9% increase respectively in the long-run. The study made some recommendations which includes; that government should be cautious when using custom and excise duty in promoting industrial growth as it is observed that any form of tax has distortionary and adverse effect on industrial output performance and therefore, government needs to set her tax to the limit where it will not distort the incentive for investment.. Government should open up her economy for a higher level of free trade to access the inherent benefit of trade to improve the industrial sector.

Foreign capital inflows and growth nexus in Nigeria

2023-01-18T11:14:39+00:00

This research examined the effect of foreign capital inflows on economic performance in Nigeria between 1981 and 2020,. It used the Least Squares econometric technique to analyze data from the World Bank's time series database. The data were checked for stationarity using the Augmented Dickey Fuller technique before being submitted to further empirical testing using a system-wise Johansen Cointegration Test, an ECM, and the Granger Causality Test. The analysis discovered a negative and negligible link between FDI and GDP. The association between REM and NOA and GDP is favorable but negligible. While GDP and GCF have a positive and substantial link. The study discovered that foreign capital inflow factors such as FDI, REM, and NOA had a negligible short-run effect on economic development in Nigeria. However, if the influx is steady throughout time, they have a major effect in the long run. Additionally, the study discovered that gross capital formation has a substantial effect on economic growth in both the short and long run. As a result, the study recommended that the government encourage savings by increasing deposit interest rates in order to increase the availability of funds for domestic investment and that the government create an enabling environment for investment to thrive by providing basic amenities such as electricity, good roads, and health care, among others.