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1
Okon, Emmanuel O. "Nigeria: Does Terrorism Spring from Economic Conditions?" American Economic & Social Review 2, no. 1 (January 13, 2018): 20–32. http://dx.doi.org/10.46281/aesr.v2i1.151.
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Over the last half-century, Nigeria has become one of Africa’s three giants along with Egypt and South Africa, thereby gaining considerable clout on the regional and global arenas. It is Africa’s largest oil producer and recent finds ensure Nigeria’s significance in the energy market for the foreseeable future. But the country has an inability or an unwillingness to distribute economic resources and development programs equitably. The primary objective of this paper is to find out whether economic condition leads to domestic terrorism in the country, as the contemporary Nigeria society is engulfed by terrible acts of Terrorism. This paper uses annual data for the time period 1970-2016 and the multivariate regression results suggest that government expenditure hinders terrorism, whereas macroeconomic policies foster it. Possible reasons for the outcomes and the policy implications of the findings were discussed.
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Naanen, Ben. "Economy within an Economy: the Manilla Currency, Exchange Rate Instability and Social Conditions in South-Eastern Nigeria, 1900–48." Journal of African History 34, no. 3 (November 1993): 425–46. http://dx.doi.org/10.1017/s0021853700033740.
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This paper studies the effects of the coexistence of the manilla currency and British currency in south-eastern Nigeria, and the way in which this monetary situation created political tensions which eventually led to the redemption of the manilla. When British control of Southern Nigeria was formalized in 1900 and British currency introduced in the south-east in the following year, the inability of the colonial authorities to put into circulation adequate supplies of British coins, coupled with historically entrenched use of traditional currencies, compelled the colonial state to recognize the latter as legal tender. However, the continuing circulation of these currencies alongside British coins created financial and economic difficulties, causing the colonial state to adopt a number of legislative measures to eradicate them. While other traditional currencies capitulated to these measures, the manilla continued to be popular as a result of objective economic factors, and was strengthened by some of the very instruments designed to eliminate it.Meanwhile, the constantly fluctuating exchange rate of the manilla was generating discontent. These fluctuations were caused primarily by the gyrations of the world market. Improved prices of palm products–the main sources of British currency in the economy of southeastern Nigeria–brought about the appreciation of the manilla. This caused hardship among wage-earners by reducing the exchange value and the purchasing power of their meagre and fixed income which had to be converted to manillas in order to buy food and other locally produced goods and services. Periods of depression, on the other hand, caused manilla depreciation as a result of a diminished inflow of British currency. This reduced the income of peasant producers, while increasing the purchasing power of workers. The ferments generated by fluctuating manilla values have remained, until now, unidentified causal links in the political movements in south-eastern Nigeria, including especially the women's movements of the 1920s.The discontent intensified in the 1940s, when the influx of cash into the Nigerian economy caused by war-time military spending and the post-war commodity boom caused a continuous appreciation of the manilla. This development made life more difficult for workers, whose incomes were already being decimated by inflation. The resulting intensified political tension, as well as the existing obstacles to trade and smooth collection of taxes (also caused by unabating manilla fluctuations), made the demonetization of the manilla through redemption inevitable. With the elimination of the manilla, which had constituted a sub-system within the economic system of colonial Nigeria, the colonial state's economic control of Nigeria can be said to have been completed.
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Sekulić, Dubravka. "Energoprojekt in Nigeria." Southeastern Europe 41, no. 2 (June 9, 2017): 200–229. http://dx.doi.org/10.1163/18763332-04102005.
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The foundation of the Non-aligned Movement in Belgrade, Yugoslavia in September 1961 represented a new opening, not only for a joint political representation of the countries trying to challenge the bipolar division of the world and imperialism during the Cold War, but also for the establishment of the direct economic relations. In the first decades of the movement, Yugoslavia was trying to match political with economic cooperation, an important part of which was involvement of the construction companies in the large infrastructural projects being constructed in countries gaining their independence. This study focuses on the work of “Energoprojekt” construction enterprise from Belgrade, one of the most successful Yugoslav construction companies on the international markets, whose portfolio of projects beside infrastructural included also architectural projects. Closely examining the sequence of Energoprojekt’s project in Nigeria in the 1970s, the paper will look into the economic, political, and architectural conditions that enabled their construction, as well as how they influenced the design and construction process. The paper introduces some of the most important protagonists, architects and directors, who shaped Energoprojekt’s approach to architecture, and an overview of organizational formats used to support economic relationship between Yugoslav and the Non-aligned government and enterprises.
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Ditimi, Amassoma, Keji Sunday, and Onyedikachi O. Emma-Ebere. "The Upshot of Money Supply and Inflation in Nigeria." Valahian Journal of Economic Studies 8, no. 2 (October 1, 2017): 75–90. http://dx.doi.org/10.1515/vjes-2017-0021.
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Abstract This study empirically investigates the upshot of money supply on inflation in Nigeria using annual time series data spanning from 1970 to 2016. Co-integration and Autoregressive Dynamic Error Correction Model (ADLECM) approach was utilized. The results showed that money supply does not considerably influence inflation both in the long and short run possibly because the country is in recession. The ECM has the correct sign of negative and it is significant meaning that about 21% of the errors are corrected yearly. The Granger causality outcome demonstrates that, there is no causality between money supply and inflation in Nigeria within the study period and vice-versa. The implication of this is often that there are different economic conditions which are key determinant of inflation in Nigeria. The study recommends that the government should diversify the economy, minimize importation by encouraging local production of products and services. The CBN should guarantee an exchange rate policy that is essentially determined by the state of the economy and not by speculators being a net importation economy. Also, the CBN should look inwards into the current interest rate and see how it can be regulated in such a way that will encourage private and foreign investors to be able to invest in the country. This in turn, successively increases income, infrastructure development and economic growth at large.
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Akpan, Sunday B., Glory E. Emmanuel, and Inimfon V. Patrick. "Roles of Political and Economic Environments on Agricultural Commodity Import Demand in Developing Economy: A Case Study of Rice Sub-Sector in Nigeria." International Journal of Economics and Finance 7, no. 12 (November 24, 2015): 84. http://dx.doi.org/10.5539/ijef.v7n12p84.
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<p>Nigeria is currently the largest importer of milled rice in the world. The country has implemented several trade policies, set up institutions and incentives to boost domestic production with the intention to meet both domestic and international demands. Despite these attempts and favorable climatic, manpower and edaphic conditions in the country, Nigeria still spent millions of dollars on annual basis on rice imports. Based on this assertion, the study rather examined the roles of political and economic environments on rice import demand from 1960 to 2014 in Nigeria. Time series data were obtained from FAO, Central Bank of Nigeria and National Bureau of Statistics as well as World Bank. Augmented Dickey-Fuller-GLS unit root test showed that all series were integrated of order one. The long-run and short-run elasticity of rice import demand were determined using the techniques of co-integration and error correction models. The trend in rice import revealed that, the country had witnessed significant average positive exponential growth rate of about 15.975% in rice import from 1960 to 2014. The empirical results revealed that, the long run import demand function of rice responded negatively to the world price, industrial capacity utilization, nominal exchange rate, and the value of gross domestic production; whereas, it reacted positively to period of civilian rule, nominal value of external reserve, period of liberalization and the net volume of credit to the entire economy. The symmetric adjustment coefficient of rice import demand to a long run equilibrium stood at 39.65% per annum. In the short run, rice import had a significant negative and elastic relationship with the domestic and world price of rice; while it has significant positive inelastic association with external reserve and net credit to the economy. Based on these results; it is recommended that, the Nigeria government should designed programmes and incentives to boost industrial capacity utilization in the country. Markets determine nominal exchange rate should prevail in the economy. The country should regulate its foreign reserve policy by setting a threshold, above which excess deposit should be plough back to the domestic economy inform of investments rather than support excessive importation.</p>
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Agbosu, L. K. "The Land Use Act and the State of Nigerian Land Law." Journal of African Law 32, no. 1 (1988): 1–43. http://dx.doi.org/10.1017/s0021855300010202.
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The Land Use Act, 1978, is a product of the inherent contradictions of the colonial and neo-colonial dependent, pseudo-capitalist economic structures established in Nigeria since colonial times. By the 1970s these contradictions became so seŕious that they threatened to become a clog on the growth of the capitalist economy. If such contradictions were allowed to reach a nodal point, conditions for the self-negation of the existing socio-economic and legal order would have ensued. The legislature, it would seem, narrowly identified the problem with private ownership of lands from its own class perspective, that is without a scientific conception of the problems in terms of ownership in the theory of social relations. A scientific conception of the problems would have revealed the essence of the difficulties as relating, not merely to the procedural aspects of private ownership of the lands, such as certainty of title, registration of title, etc., but concerning the institution of private ownership as an economic and legal category around which the exploitation of man by man is organised in class-divided societies.Such a scientific perception of the problems would have demanded a lasting solution that not only abolished private ownership rights in land but also abolished private ownership of other means of production. The socialisation of all means of production would have amounted to a holistic approach to the solution of the problems in the interest of the nation as a whole.
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Abiola, A. G. "Resource Gaps and Economic Growth in Nigeria: 1970-1999." Journal of Social Sciences 7, no. 3 (July 2003): 193–200. http://dx.doi.org/10.1080/09718923.2003.11892380.
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Akinlo, O. Olayinka. "Economic growth, investment and export performance in Nigeria 1970–2006." International Journal of Business and Emerging Markets 3, no. 3 (2011): 251. http://dx.doi.org/10.1504/ijbem.2011.040946.
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Aluthge, Chandana, Adamu Jibir, and Musa Abdu. "Impact of Government Expenditure on Economic Growth in Nigeria, 1970-2019." Central Bank of Nigeria Journal of Applied Statistics 12, No. 1 (August 16, 2021): 139–74. http://dx.doi.org/10.33429/cjas.12121.6/6.
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This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts for structural breaks in the unit root test and the co-integration analysis. The key findings of the study are that capital expenditure has positive and significant impact on economic growth both in the short run and long run while recurrent expenditure does not have significant impact on economic growth both in the short run and long run. The study recommends that government should increase the share of the capital expenditure especially on meaningful projects that have direct bearing on the citizen’s welfare. Government should also improve the spending patterns of recurrent expenditure through careful reallocation of resources toward productive activities that would enhance human development in the country.
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Adejumo, Akintoye Victor, and Oluwabunmi Opeyemi Adejumo. "Role of Productivity Growth in Economic Growth: Evidence from Nigeria (1970–2010)." Global Business Review 20, no. 6 (July 29, 2019): 1324–43. http://dx.doi.org/10.1177/0972150919848932.
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The Global Conference for Wikimedia and The Economist held in London, 2014, ranked Nigeria as the largest economy in Africa using the nominal gross domestic product. But, income redistribution, equality and productivity improvements, which are indicators for the development of an economy, remain at large. Against this background, the study is set to examine the extent to which the positive trend experienced in economic growth has translated into development in Nigeria; this is with a view to ascertaining the effect of growth translating into economic development. With particular emphasis placed on the productivity patterns in Nigeria, the study determined the contribution of productivity growth and economic growth as well as the causal relation between both variables. Using the concept of productive efficiency as a major determinant, the autoregressive distributed lag (ARDL) and Granger causality estimates were employed. It was discovered that a unidirectional existed between both variables. Moreover, it was discovered that productivity growth contributed positively to real economic growth and negatively to nominal economic growth. This result implies that the presence of innovations through technology has augmented productivity intricately but not so visibly in Nigeria.
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Abiodun Okunnu, Mustapha. "The Effects of Macroeconomic Indicators on Economic Growth of Nigeria (1970-2015)." American Journal of Theoretical and Applied Statistics 6, no. 6 (2017): 325. http://dx.doi.org/10.11648/j.ajtas.20170606.19.
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Ejem, Chukwu Agwu, and Udochukwu Godfrey Ogbonna. "Financial Conditions Index and Economic Performance in Nigeria." American Finance & Banking Review 5, no. 1 (May 6, 2020): 62–70. http://dx.doi.org/10.46281/amfbr.v5i1.564.
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The main aim of this study is to construct a financial conditions index for Nigeria and analyze its predictive power for future growth rate and inflationary trend. The study is based on yearly time series data from 1985 to 2018. The variables included in the construction of the index are riskless interest rate, stock market index, exchange rate, credit to private sector and interest rate spread. The weights attached to these variables are derived from ARDL coefficients, while the predictive power of the constructed index is examined within the VAR framework. The results from the ARDL model shows that credit to private sector and stock market index are the most significant factors for nominal GDP, hence having a substantial weight in the resultant financial conditions index. However, the results from VAR impulse response function and forecast error variance decomposition suggest that the constructed financial conditions index contain very little predictive information about future growth rate and inflationary trend.
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I. U., Uwazie, Igwemma A. A., and Nnabu Bernard Eze. "Causal Relationship between Foreign Direct Investment and Economic Growth in Nigeria: 1970-2013." International Journal of Economics and Finance 7, no. 11 (October 27, 2015): 230. http://dx.doi.org/10.5539/ijef.v7n11p230.
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Foreign direct investment is presumed to play immense role in economic growth in both developed and developing economies. This assumption has motivated the army of studies to actually determine the nexus between foreign direct investment and economic growth in Nigeria. But these studies were not unified on the direction of the causation, hence the need for the study. To effectively analyze the result, the study employs vector error correction model method of causality to analyze the annual data for the periods of 1970 to 2013. The Augmented Dickey-Fuller (ADF) unit root test show presence of unit root at level but stationary after first difference. The Johansen cointegration test confirms that the variables are cointegrated while the granger causality test affirms that foreign direct investment and economic growth reinforce each other in the short run in Nigeria. Also, it is reported that foreign direct investment granger cause economic growth both in the short and long run in Nigeria. Based on these findings, the study advocates the adoption of aggressive policy reforms to boost investors’ confidence and promotion of qualitative human capital development to lure FDI into the country. It also suggests the introduction of selective openness to allow only the inflow of FDI that have the capacity to spillover to the economy. These will attract FDI and boost economic growth in Nigeria.
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Olomola, PA. "The FDI-growth hypothesis: A VAR model for Nigeria." South African Journal of Economic and Management Sciences 7, no. 1 (July 23, 2004): 170–84. http://dx.doi.org/10.4102/sajems.v7i1.1435.
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The objective of this study was to examine the causal relationship between foreign direct investment and economic growth in Nigeria using annual data covering the period 1970 to 2002. The study employed the Granger causality procedure to test the direction of causality between foreign direct investment and economic growth for the Nigerian economy. The endogenous production function was derived to accommodate foreign investment and other domestic policies that could influence growth and foreign investment. The study found a one-way causality between from foreign direct investment to economic growth. The implication arising from this study is that Nigeria should adopt policy whereby FDI is attracted to promote economic growth.
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Muazu, Abdulrazak Umar, and Lawali Mohammad. "Government Expenditure and Economic Growth in Nigeria, 1970-2010: ARDL Bounds Test Approach." International Journal of Business Administration and Management Research 1, no. 1 (June 15, 2015): 4. http://dx.doi.org/10.24178/ijbamr.2015.1.1.04.
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This paper analyses the impact of public expenditure on economic growth in Nigeria during the period 1970 to 2010 making use of annual time series data. The study employs the bounds testing (ARDL) approach toexamine the long run and short run relationships between public expenditure and economic growth in Nigeria. The bounds test suggested that the variables of interest put in the framework are bound together in the long-run. The associated equilibrium correction was also significant confirming the existence of long-run relationships. Our findings indicate the impact of total public spending on growth to be negative which is consistent with other past studies. Recurrent expenditure however was found to have little significant positive impact on growth. Therefore, government should increase its spending on infrastructure, social and economic activities.
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OSINUBI, TOKUNBO SIMBOWALE, RISIKAT OLADOYIN S. DAUDA, and OLADELE EMMANUEL OLALERU. "BUDGET DEFICITS, EXTERNAL DEBT AND ECONOMIC GROWTH IN NIGERIA." Singapore Economic Review 55, no. 03 (September 2010): 491–521. http://dx.doi.org/10.1142/s0217590810003869.
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The necessity for governments to borrow in order to finance deficit budgets has led to the development of external debt. This study examines how the use of budget deficits as an instrument of stabilization leads to the accumulation of external debt with the attending effects on growth in Nigeria between 1970 and 2003. By synthesizing a relationship between budget deficits and external debt the study shows the implications on economic growth of conducting a fiscal policy within the contexts of debt stabilization and debt sustainability. The results of the econometric analysis confirm the existence of the debt Laffer curve and the nonlinear effects of external debt on growth in Nigeria. The study concludes that if debt-financed budget deficits are operated in order to stabilize the debt ratio at the optimum sustainable level debt overhang problems would be avoided and the benefits of external borrowing would be maximized.
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Orlu, Roland Nsirim. "The impact of domestic pricing of petrol on economic growth of Nigeria (1970 – 2013)." Global Journal of Social Sciences 16, no. 1 (January 24, 2018): 1. http://dx.doi.org/10.4314/gjss.v16i1.1.
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Adekoya, Adenuga Fabian, and Nor Azam Abdul Razak. "The Dynamic Relationship between Crime and Economic Growth in Nigeria." International Journal of Management and Economics 53, no. 1 (March 1, 2017): 47–64. http://dx.doi.org/10.1515/ijme-2017-0004.
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Abstract Crime is a major impediment to economic growth and development in Nigeria despite measures taken to reduce it. There is, however, currently no major statistical analysis of how crime affects economic growth in that country. This study examines the link between crime and growth based on the theory of rational choice and empirical data. Exogenous and endogenous growth models are employed, and include deterrence variables. The period examined is 1970–2013 and estimation is done using the autoregressive distributed lag model. The results of our study show that crime affects economic growth at a 1% and 10% level of significance. In other words, crime imposes the costs of prosecution and punishment on the citizens and country, which influences the growth of the economy. Given our results, we suggest that police and the system of justice should be strengthened. Indeed, this may be necessary if the development target stated in Nigeria vision 20: 2020 is to be reached.
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Okolo, Chukwuemeka Valentine, Richardson Kojo Edeme, and Chinanuife Emmanuel. "Economic Analysis of Capital Expenditure and Infrastructural Development in Nigeria." Journal of Infrastructure Development 10, no. 1-2 (June 2018): 52–62. http://dx.doi.org/10.1177/0974930618809173.
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Infrastructural development has been the major concern of countries all over the world due to its significant impact in fostering growth. In Nigeria, it has been observed that the level of infrastructure posed serious threat to attaining sustained growth. This study therefore examines the impact of capital expenditure on infrastructural development in Nigeria, utilising time series from 1970 to 2017. The study adopted autoregressive distributed lag (ARDL) model due to the possibility of the past value of the dependent variable explaining its present value, and found that capital expenditure, construction expenditure and non-oil revenue have the potency of accentuating infrastructural development in the long-run but such is being hampered by external debt. The positive effect of recurrent expenditure on infrastructural development is a pointer that bulk of the expenditure in Nigeria over the years is recurrent in nature. These suggest the need to boost non-oil revenue, reduce recurrent and channel external debt into productive infrastructural development.
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Ighodaro, Clement A. U., and Ovenseri-Ogbomo F. O. "The Dynamics of Exports and Economic Growth: Assessing the Evidence from Nigeria." American Economic & Social Review 4, no. 1 (December 1, 2018): 15–22. http://dx.doi.org/10.46281/aesr.v4i1.212.
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The paper empirically examines the dynamics of exports and economic growth in Nigeria using time series data for 1970 to 2017. The Vector autoregressive model (VAR) was used to investigate the long run and short run relationship between exports and economic growth as well as some selected variables. The result shows that there exists a stable long run relationship among economic growth, exports, capital expenditure on education and social services. Also, the Granger causality results reveal that export Granger causes economic growth and not the other way round. This means that an increase in economic growth may result from increase in export, but increase in economic growth does not necessarily lead to increase in exports. The Impulse Response Function (IRF) shows that a one standard innovation in exports will lead to permanent positive impact on economic growth in Nigeria. This therefore supports the exports led growth hypothesis for Nigeria.
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Adelakun, Ojo Johnson, and Olatunde Kazeem Olayiwola. "Econometric Analysis of Export Led Growth in the Nigerian Economy." Journal of Economics and Management Sciences 3, no. 2 (June 5, 2020): p38. http://dx.doi.org/10.30560/jems.v3n2p38.
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This study investigates the role of export in the economic growth process of Nigeria with using the three sample periods of annual time series data, which are 1961 to 2013, 1970 to 2013 and 1981 to 2013 respectively. The variables for this period of 1961 to 2013 are GDP growth and exports/GDP ratio, the variables for this period of 1970 to 2013 are GDP growth, exports/GDP ratio, Imports/GDP ratio and the real interest rate and the variables for the last period of data are total exports, manufacturing GDP, agricultural GDP, manufacturing exports and agricultural exports respectively. The VAR Granger causality results for the first sample period show no causal relationship between exports and the GDP growth which illustrates that the two variables are independent of each other. The VAR results for the period of 1970 to 2013 show no causality between the variables under consideration. Following the results of the Granger causality test for this last period of 1981 to 2013, the results show no evidence of causality existing among the variables, which do not show evidence for the support for the export-led growth in the Nigerian economy. This study concluded that exports do not influence and cannot sustain economic growth in the Nigerian economy. The study recommended that an attempt should be made towards executing an economic policy that will strengthen the economic growth of Nigeria.
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Young, Ademola Obafemi. "Economic Growth and Population Ageing in Nigeria: Innovation Accounting Techniques." Journal of Sustainable Development 11, no. 4 (July 29, 2018): 190. http://dx.doi.org/10.5539/jsd.v11n4p190.
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While global ageing suggests a triumph of social, economic, and medical advances over diseases, however, in economics regarding the growth implications of ageing, it is a puzzle as to what direction the effect will go. This motivates the current study to investigate empirically the economic growth consequences of population ageing in the context of Nigerian economy spanning between the period 1970 and 2015. Innovation Accounting Techniques was applied to assess the dynamic interactions among the variables. The results obtained revealed that the innovation in life expectancy and change in adult age dependency had the least contribution to the variation in per capita real GDP growth rate. The magnitude ranges between 1.45 and 8.33 percent. These results, thus, lend credence to the pessimistic view which contend that the inequality in a country’s population age structure, particularly, a greater share of the population of the elderly, depresses the country’s productivity level. Hence, the study recommends that any long term growth strategy aimed at boosting per capita income at a sustainable rate over the next ten (10) to fifteen (15) years needs to envision policies and reforms that are likely to foster savings and boost returns on them.
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Ighodaro, Clement A. U. "CO-INTEGRATION AND CAUSALITY RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH: FURTHER EMPIRICAL EVIDENCE FOR NIGERIA." Journal of Business Economics and Management 11, no. 1 (March 31, 2010): 97–111. http://dx.doi.org/10.3846/jbem.2010.05.
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The Paper re - examined co‐integration and causality relationship between energy consumption and economic growth for Nigeria using data covering the period 1970 to 2005. Unlike previous related study for Nigeria, different proxies of energy consumption (electricity demand, domestic crude oil consumption and gas utilization) were used for the estimation. It also included government activities proxied by health expenditure and monetary policy proxied by broad money supply though; emphasis was on energy consumption. Using the Johansen co‐integration technique, it was found that there existed a long run relationship among the series. It was also found that all the variables used for the study were I(1). Furthermore, unidirectional causality was established between electricity consumption and economic growth, domestic crude oil production and economic growth as well as between gas utilization and economic growth in Nigeria. While causality runs from electricity consumption to economic growth as well as from gas utilization to economic growth, it was found that causality runs from economic growth to domestic crude oil production. Therefore, conservation policy regarding electricity consumption and gas utilization would harm economic growth in Nigeria while energy conservation policy as regards domestic crude oil consumption would not. Santrauka Tyrinejamas energijos suvartojimo ir ekonominio augimo tarpusavio ryšys bei priežastingumas Ni‐gerijoje, remiantis 1970–2005 m. statistiniais duomenimis. Naujai, lyginant su ankstesniais Nigerijos tyrimais, parenkami energijos vartojimo matavimo būdai (elektros energijos paklausa, vietines naftos žaliavos suvartojimas, duju utilizavimas). Straipsnyje atsižvelgiama i socialine ir monetarine valstybes politika, kurios atspindi valstybes gerove. Pritaikius Johansen tarpusavio priklausomybes metodabuvo gauta, kad tarp visu energijos vartojima atspindinčiu rodikliu ir ekonominio augimo yra netiesioginis priežastinis ryšys. Manoma, kad elektros bei dujunaudojimo apribojimas stabdytu Nigerijos ekonomini augima, o naftos žaliavos vartojimo masto mažinimas nepaveiktu tolesnes šalies pletros.
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Ighodaro, Clement A. U. "CO-INTEGRATION AND CAUSALITY RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH: FURTHER EMPIRICAL EVIDENCE FOR NIGERIA." Journal of Business Economics and Management 11, no. 1 (March 31, 2010): 97–111. http://dx.doi.org/10.3846/jbem.202010.05.
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The Paper re - examined co‐integration and causality relationship between energy consumption and economic growth for Nigeria using data covering the period 1970 to 2005. Unlike previous related study for Nigeria, different proxies of energy consumption (electricity demand, domestic crude oil consumption and gas utilization) were used for the estimation. It also included government activities proxied by health expenditure and monetary policy proxied by broad money supply though; emphasis was on energy consumption. Using the Johansen co‐integration technique, it was found that there existed a long run relationship among the series. It was also found that all the variables used for the study were I(1). Furthermore, unidirectional causality was established between electricity consumption and economic growth, domestic crude oil production and economic growth as well as between gas utilization and economic growth in Nigeria. While causality runs from electricity consumption to economic growth as well as from gas utilization to economic growth, it was found that causality runs from economic growth to domestic crude oil production. Therefore, conservation policy regarding electricity consumption and gas utilization would harm economic growth in Nigeria while energy conservation policy as regards domestic crude oil consumption would not. Santrauka Tyrinejamas energijos suvartojimo ir ekonominio augimo tarpusavio ryšys bei priežastingumas Ni‐gerijoje, remiantis 1970–2005 m. statistiniais duomenimis. Naujai, lyginant su ankstesniais Nigerijos tyrimais, parenkami energijos vartojimo matavimo būdai (elektros energijos paklausa, vietines naftos žaliavos suvartojimas, duju utilizavimas). Straipsnyje atsižvelgiama i socialine ir monetarine valstybes politika, kurios atspindi valstybes gerove. Pritaikius Johansen tarpusavio priklausomybes metodabuvo gauta, kad tarp visu energijos vartojima atspindinčiu rodikliu ir ekonominio augimo yra netiesioginis priežastinis ryšys. Manoma, kad elektros bei dujunaudojimo apribojimas stabdytu Nigerijos ekonomini augima, o naftos žaliavos vartojimo masto mažinimas nepaveiktu tolesnes šalies pletros.
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Ugwunta, David Okelue, and Uche Boniface Ugwuanyi. "Insurance Development and Economic Growth: An Examination of the Non-Bank Financial Institutions in Nigeria." International Journal of Financial Research 10, no. 2 (February 12, 2019): 16. http://dx.doi.org/10.5430/ijfr.v10n2p16.
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This paper determined the effect of the development of non-bank financial institutions on Nigeria’s economic growth. Time series data, spanning a period of forty-one years, from 1970-2010 obtained from the Central Bank of Nigeria statistical bulletin were tested for stationarity. To measure the relationship and the impact of the explanatory variables on economic growth, the paper adopted a generic regression equation. Results suggest that total trade; investments of the insurance sector in financial asset; and insurance premiums have a high, positive and direct relationship with economic growth. Overall, our findings revealed that the focal variables insurance sector investment in financial assets; and insurance sector premiums significantly contribute to the economic growth of Nigeria.
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O.K. David, OKOROAFOR. "Influences of Monetary Policy Instruments on Domestic Investments and Economic Growth of Nigeria: 1970-2018." International Journal of Applied Economics, Finance and Accounting 6, no. 1 (2020): 42–56. http://dx.doi.org/10.33094/8.2017.2020.61.42.56.
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Madichie, Chekwube Vitus, Festus Osagu, and Eze Anoke Eze. "Economic Diversification: Imperative for Trade and Industrial Policies in Nigeria." Timisoara Journal of Economics and Business 11, no. 1 (June 1, 2018): 67–86. http://dx.doi.org/10.2478/tjeb-2018-0005.
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Abstract The sharp and continuous decline in crude oil prices since the mid-2014, along with the lackluster efforts at diversifying the sources of revenue and foreign exchange in the economy, incontrovertibly led to the recession that greeted Nigeria in the second quarter of 2016 as manifested by fiscal crisis. Hence this study examines the imperative of economic diversification in trade and industrial policies in Nigeria. In order to characterize the pattern of trade and industrial transformation in the diversification process, we adopted the augmented version of Kaldor’s first law which establishes a link between manufacturing output and economic growth. Based on annualized secondary time series, spanning from 1970 to 2015, obtained from the CBN statistical bulletin of various years, the study employed the contemporary econometric techniques of cointegration and error correction mechanism, within the framework of the Autoregressive Distributed Lag (ARDL) model as proposed by Pesaran et al (2001) in achieving its objective. The results show that manufacturing output, crude petroleum and natural gas production, as well as mining production have significant positive longrun impact on economic growth in Nigeria. This implies that economic diversification-based industrial policies will definitely bring about the desired economic outcomes in Nigeria. We therefore conclude that trade and industrial policies should be geared towards diversification of the economy.
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Apata, Temidayo Gabriel. "Public spending mechanisms and gross domestic product (GDP) growth in the agricultural sector (1970–2016): Lessons for Nigeria from agricultural policy progressions in China." Bulletin of Geography. Socio-economic Series 44, no. 44 (June 5, 2019): 57–72. http://dx.doi.org/10.2478/bog-2019-0015.
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AbstractChina has pursued a sustainable path of development in line with reality for four decades. Economic restructuring started in its vast rural areas, focusing on reforms targeting income increase for rural farmers. These radical sustainable policies that China’s political leaders imbibed were not embraced by Nigeria’s past leaders and these resulted in the bane of underdevelopment. The study examines the level and composition of the drivers of public-spending policy mechanisms that contribute to gross domestic product (GDP) growth in the agricultural sector in China and Nigeria and draws up a model of Chinese development for Nigeria. Secondary data was used and were sourced from FAOSTAT and International Monetary Fund’s Government-Finance Statistics (various issues) from 1970–2016. Random-effects model results revealed that the policy of public-expenditure (PUEXP) and intervention (INTEV) variables were significant but negative, while enterprise-development (ENTDEV), drivers of development (DRIVERS) and Dummy D1t (modest public-expenditure access) were significant and positive for Nigeria. Three variables were significant and positive. The dummies D1t and D2t (macro-economic stability) were positive and significant for China. Public-expenditure and GDP growth has an inverse relationship in Nigeria, but a direct relationship in China. In Nigeria, PUEXP coefficient is ˗0.6810 and 0.8902 for China. Hence, macro-economic stability, enhanced market mechanisms and economic progress resulted in China and hereby lessons are drawn for Nigeria. Public leaders are responsible for governing the market in a manner that induces businesses to produce public value. However, if public-policy mechanisms are not well-designed to fit the economy’s needs it could significantly influence the economy in a negative way, and the society bears the costs.
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Jibir, Adamu, and Musa Abdu. "Foreign Direct Investment - Growth Nexus: The Case of Nigeria." European Scientific Journal, ESJ 13, no. 1 (January 31, 2017): 304. http://dx.doi.org/10.19044/esj.2017.v13n1p304.
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The quest by developing countries for increased FDI stems from the assumption that FDI leads to economic benefits within the host country. The study examined the paradigm ‘FDI led growth’ using dataset for Nigeria obtained from Central Bank of Nigeria span between 1970 and 2014. Modern econometric tools of Vector error correction model and Granger Wald test were employed. The econometric analysis reveals that there is steady long run relationship between FDI and output in Nigeria. Additionally, the causality result indicates that there is unidirectional causality between trade openness and per capita income, running from trade openness to per capita income proxy for economic growth. On the other hand, there is absence of short-run causality between FDI and economic growth in Nigeria. The policy implication is that FDI can be considered as an engine of growth and development. In the case of Nigeria, FDI can be used as a tool for structuring the economy and achieving inclusive growth. This can be done by attracting more FDI through creating conducive business environment, development of infrastructures and strengthening security especially in north-eastern part of the country.
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Alimi, R. Santos. "Inflation and Financial Sector Performance: The Case of Nigeria." Timisoara Journal of Economics and Business 7, no. 1 (June 1, 2014): 55–69. http://dx.doi.org/10.2478/tjeb-2014-0003.
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Abstract The paper examines the long run and short run relationships between inflation and the financial sector development in Nigeria over the period between 1970 and 2012. Three variables, namely; broad definition of money as ratio of GDP, quasi money as share of GDP and credit to private sector as share of GDP, were used to proxy financial sector development. Our findings suggest that inflation presented deleterious effects on financial development over the study period. The main implication of the results is that poor macroeconomic performance has deleterious effects to financial development - a variable that is important for affecting economic growth and income inequality. Moreover, we observed a negative effect of the measures of financial development on growth, suggesting that impact of inflation on the economic growth passes through financial sector. Therefore, low and stable prices, is a necessary first step to achieving a deeper and more active financial sector that will enhance growth as predicted by Schumpeter.
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Young, Ademola Obafemi. "Economic Growth and Demographic Dividend Nexus in Nigeria: A Vector Autoregressive (VAR) Approach." Asian Social Science 15, no. 2 (January 30, 2019): 37. http://dx.doi.org/10.5539/ass.v15n2p37.
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In demography and population economics discourse, the macroeconomic implications of an upsurge in working age population, notably the labour force, on economic growth has been widely studied and the inherent beneficial impact has become known as demographic dividend. However, the exact mechanism linking the dividend to growth remains a perennial question. This motivates the current study to investigate empirically the dividend-growth nexus in the context of Nigerian economy in a multivariate VAR model spanning between the period 1970 and 2017. Specifically, the paper attempted to answer the question: Is the Nigerian Demographic Dividend an Education-triggered Dividend? Innovation Accounting Techniques was applied to assess the dynamic interactions among the variables. The empirical evidence obtained revealed that the innovation in gross enrollment made much contribution to the variation in economic growth relative to innovation in economic support ratio. The magnitude ranges between 20.09 and 27.54 percent. This result, thus, lend credence to the theoretical view of the education-triggered dividend model which ascribes to education twofold roles of helping to lessen fertility and also enhancing productivity but invalidates the conventional dividend paradigm.
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YOUNG, Ademola Obafemi. "Why Has Growth Not Trickled Down to the Poor? A Study of Nigeria." Review of European Studies 11, no. 1 (February 19, 2019): 156. http://dx.doi.org/10.5539/res.v11n1p156.
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Despite impressive economic growth and major economic reform policies the search for poverty-reducing growth strategies remains a perennial question in many developing countries as poverty persists unabated. This motivates the current study to investigate empirically growth-poverty nexus in Nigeria spanning between the period 1970 and 2017. The paper attempted to answer the question: why has growth not trickled down to the poor? Time series econometrics were applied to test the cointegrating, short- and long-run dynamics among the variables. The results obtained revealed that growth trickled down to the poor only when high rates of employment growth accompanied high rates of economic growth. In addition to employment, the result also revealed that the form of capital formation, rather than its absolute value, appears to matter to the question of why has growth not trickle down to the poor. Thus, economic growth policies that promote an increase in income in conjunction with a high rates of employment growth are more effective in combating poverty than those that focus only on average income levels.
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Ayadi, Folorunso Sunday. "FUEL SUBSIDY, ENERGY CONSUMPTION AND ENVIRONMENTAL OUTCOMES IN NIGERIA." Caleb Journal of Social and Management Science 5, no. 1 (December 31, 2020): 21–43. http://dx.doi.org/10.26772/cjsms2020050102.
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This study investigates the impact of energy subsidy, energy consumption, urbanization, economic growth, foreign direct investment, and trade openness on carbon dioxide emission and other greenhouse gases in Nigeria. Based on the method of cointegration and Autoregressive Distributed Lag (ARDL), the study utilized data from 1970 to 2018 for the analysis. The study found fossil fuel consumption, economic growth, trade openness and PMS Price (a proxy for subsidy) as significantly increasing emission (Carbon dioxide) in Nigeria. The implication is that as that as the prices of PMS goes up (due to subsidy reduction), more of fuel is consumed. Our analysis demonstrated that PMS is price inelastic in Nigeria. In addition, subsidy or its removal will have no impact on carbon dioxide emission and other greenhouse gas emission in Nigeria. The study recommends the development of cleaner, renewable fuels and the development of abatement technology so as to mitigate the environmental impacts of growth. In addition, since the reduction in subsidy has no deterrent impact on fossil fuel consumption in Nigeria, then the recent removal of fossil fuel subsidy in Nigeria is a welcome development at least for the environment.
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NAVIA, PATRICIO, and RODRIGO OSORIO. "‘Make the Economy Scream’? Economic, Ideological and Social Determinants of Support for Salvador Allende in Chile, 1970–3." Journal of Latin American Studies 49, no. 4 (March 15, 2017): 771–97. http://dx.doi.org/10.1017/s0022216x17000037.
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AbstractWith polling and municipal level data, we analyse the determinants of Salvador Allende's presidential election victory in 1970 and the change in political and electoral support for his government (1970–3). Support for Allende is explained by ideology more than by social class, socio-demographic variables or the economic performance of the country. Allende won in 1970 as an opposition candidate when the outgoing Frei administration enjoyed high approval and the country was experiencing favourable economic conditions. In 1973, when Allende had 49.7% approval, ideology remained the strongest determinant of presidential approval. Economic variables and social class are less important in explaining electoral support for Allende and for his Popular Unity coalition.
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Kanayo, Ogujiuba, and Terfa W. Abraham . "Impact of Public Expenditure on Climate Change in Nigeria: Lessons from South Africa." Journal of Economics and Behavioral Studies 4, no. 9 (September 15, 2012): 515–22. http://dx.doi.org/10.22610/jebs.v4i9.353.
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This paper examines the role of public expenditure in enhancing climate change adaptation and mitigation in Nigeria. It examines the trend of carbon dioxide (CO2) in Nigeria alongside those of South Africa and Sub Saharan Africa and investigates the statistical relationship between public expenditure and climate change in Nigeria. The paper hinges on the Climate Public Expenditure and Institutional framework of the Oversee Development Institute (ODI), which argues that climate change, has fiscal implications and can be addressed using national plans and annual budgets. Time series data were then collected for emission, public expenditure, human development index and economic growth from the World Bank and the Central Bank of Nigeria for 1970-2008, while trend analysis and lag regression model were used for data analysis. It was found that public expenditure towards economic services could be used to enhance Nigeria’s climate change mitigation and adaptation strategies. Though economic growth and human development index were found to be positively related to emission, results imply that economic growth in Nigeria is not pursued in a sustainable manner that accounts for the future generation. The paper recommends that economic growth that is driven by investment in renewable energy, developing human capacity to adapt to climate change and coordinating public expenditure to economic and community services to develop rural communities and vulnerable sectors like agriculture, would be useful for addressing climate change in Nigeria and ensuring sustainable development. A lesson Nigeria can learn from climate change mitigation and adaptation measures in South Africa is to identify and prioritize short term and medium term adaptation interventions to be addressed in sector plans such as water, agriculture and forestry, health, biodiversity and human settlements.
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Cebula, Richard J., James V. Koch, and Robert N. Fenili. "The Bank Failure Rate, Economic Conditions and Banking Statutes in the U.S., 1970–2009." Atlantic Economic Journal 39, no. 1 (January 6, 2011): 39–46. http://dx.doi.org/10.1007/s11293-010-9258-7.
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Nwadike, Gerald C., Ani Kelechi Johnmary, and Chukwuma Samuel Alamba. "Impact of Trade Openness on Nigerian Economic Growth: An Empirical Investigation, 1970–2011." Foreign Trade Review 55, no. 2 (April 6, 2020): 239–47. http://dx.doi.org/10.1177/0015732519894153.
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Geopolitical territories have often engaged in one form of trade or another with their neighbours. That is because no nation in the world can survive without one form of trade with other sovereign states. This study examines the nature of trade openness and economic growth in Nigeria from 1970–2011. The emphasis of this empirical study is to ascertain the impact of trade openness on Nigeria’s economic growth. Causal comparative or ex-post facto research design was adopted in the study. Econometric time series analyses like ADF unit root test, co-integration test and the ordinary least squared (OLS) were employed in the study. The result obtained was used to test the hypotheses, and it was revealed that (i) Trade Openness has positive significant impact on Nigeria’s economic growth; while (ii) Gross Domestic Product (GDP) responds to the shock of Trade Openness value as a proxy of total import and total export divided by GDP as well as change in Exchange Rate (DEXR) within Nigeria’s economy during the period of study. Thus, the co-integration results indicate that there exists long-run relationship among the variables used; hence; the researchers then recommended that there is urgent need for the government to create enabling environment for good trade policy that would attract both foreign and domestic private sector investment in the country. JEL Codes: F13, B27
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Adejumo, Oluwabunmi O. "Growth Limits: A Conceptual Analysis for Sustainable Development in Nigeria." SAGE Open 10, no. 2 (April 2020): 215824402091827. http://dx.doi.org/10.1177/2158244020918277.
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In the school of development thought, growth has been identified as a viable alternative to the challenge of poverty and economic backwardness. However, the ecologists have continuously challenged the growth position in relation to environmental degradation and depletion. It is against this background; this study examined the limits to growth in Nigeria beyond which there will be inimical consequences for the environment. The study employed time series data that spanned between 1970 and 2014. These data sets were sourced from the World Development Indicators. Based on the assimilation model, threshold estimates were used to identify optimal growth regions, whereas regression estimates were used to measure growth effects. It was discovered that below the identified growth limit, there are currently significant negative impacts on the quality of the environment in Nigeria via economic growth. This study is a single-country case, that is, Nigeria; hence, the study can be expanded to include other sub-Saharan African countries. The study adds to knowledge by establishing the prospects for sustainability in the quality of the environment in the long run; therefore, policies designed in this areas have higher likelihood of attaining sustainability.
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Aremo, Adeleke Gabriel, and Titus Ayobami Ojeyinka. "Foreign direct investment, energy consumption, carbon emissions and economic growth in Nigeria (1970-2014): an aggregate empirical analysis." International Journal of Green Economics 12, no. 3/4 (2018): 209. http://dx.doi.org/10.1504/ijge.2018.097868.
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Ojeyinka, Titus Ayobami, and Adeleke Gabriel Aremo. "Foreign direct investment, energy consumption, carbon emissions and economic growth in Nigeria (1970-2014): an aggregate empirical analysis." International Journal of Green Economics 12, no. 3/4 (2018): 209. http://dx.doi.org/10.1504/ijge.2018.10019142.
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Olumuyiwa, Olusanya, Samuel. "Analysis of Causality between Monetary Policy and Economic Growth in Pre- and Post- Deregulated Nigeria Economy. (1970-2009)." IOSR Journal of Humanities and Social Science 5, no. 5 (2012): 88–98. http://dx.doi.org/10.9790/0837-0558898.
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Barredo, J. I. "Normalised flood losses in Europe: 1970–2006." Natural Hazards and Earth System Sciences 9, no. 1 (February 9, 2009): 97–104. http://dx.doi.org/10.5194/nhess-9-97-2009.
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Abstract. This paper presents an assessment of normalised flood losses in Europe for the period 1970–2006. Normalisation provides an estimate of the losses that would occur if the floods from the past take place under current societal conditions. Economic losses from floods are the result of both societal and climatological factors. Failing to adjust for time-variant socio-economic factors produces loss amounts that are not directly comparable over time, but rather show an ever-growing trend for purely socio-economic reasons. This study has used available information on flood losses from the Emergency Events Database (EM-DAT) and the Natural Hazards Assessment Network (NATHAN). Following the conceptual approach of previous studies, we normalised flood losses by considering the effects of changes in population, wealth, and inflation at the country level. Furthermore, we removed inter-country price differences by adjusting the losses for purchasing power parities (PPP). We assessed normalised flood losses in 31 European countries. These include the member states of the European Union, Norway, Switzerland, Croatia, and the Former Yugoslav Republic of Macedonia. Results show no detectable sign of human-induced climate change in normalised flood losses in Europe. The observed increase in the original flood losses is mostly driven by societal factors.
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Lucas, Elumah, and Peter Shobayo. "Effect of Expenditures on Education, Human Capital Development and Economic Growth in Nigeria." Nile Journal of Business and Economics 3, no. 5 (April 21, 2017): 40. http://dx.doi.org/10.20321/nilejbe.v3i5.89.
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<p>Earlier studies on economic growth asserts that economic prosperity and functioning of a nation depends on its physical and human capital stock in form of knowledge acquired and an agent of national development in all countries of the world. Therefore, the need to examine the effect of expenditures on education, human capital development on economic growth in Nigeria. This study focuses on public expenditures on the education with a view to ascertain the relative commitments of the governments to this sector.</p><p> </p><p>This study covers the period of 1970-2015, employing an ex-post facto research design using time series data. The data used for this study are obtained mainly from secondary data which is quantitative in nature. The study employs descriptive statistics to assess the contributions of government expenditure on education, government expenditure on health, tertiary school enrolment, secondary school enrollment, primary school enrolment on gross domestic product. Also, Unit Root Test is conducted on the series to ascertain if they are stationary while co-integration test follows suit, to also ascertain the long run relationship between expenditure on education and human capital development on economic growth. The Johansen Cointegration test and Error Correction Mechanism estimated model found that that there is no significant effect of expenditure on education and human capital development on economic growth in Nigeria.</p><p> </p>
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Ani, Kelechi Johnmary. "An evaluation of Nigeria-Chad trade and security relations, 1988-2009." Independent Journal of Management & Production 12, no. 5 (August 1, 2021): 1600–1626. http://dx.doi.org/10.14807/ijmp.v12i5.1458.
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The contemporary world is such that nations cannot do without one another. This is because some nations are connected by historical, cultural, social, economic, scientific and other forms of strategic interests. Nigeria and Chad over the years have a history of inter-state relations that pre-dates the coming of colonial masters. However, at the end of colonial rule, both states engaged in multi-dimensional forms of bilateral relations. This study, which adopts mixed method of research focuses on Nigeria-Chad economic relations. It reveals the forms of trade agreement between both states. The study highlights formal and informal nature of the trade amongst the two states and found that their history of diplomatic relations has promoted the national interest as well as the management of strategic over-lapping trade demands in both countries. This study used regression analysis and applied unit root, co-integration, chow test, stability test as well as Phillips-Perron (PP) and Augmented Dickey-Fuller (ADF) to find-out that there is strong positive significant relationship between Nigeria-Chad trade and economic diplomacy within the period of 1970-2018 as well as reasonable stability in Nigerian trade and security relations with Chad in the presence of Boko Haram menace. The study recommends increased bilateral trade, border security as well as intelligence sharing on the dynamics of security threats to the relations of both states.
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Suleiman, Ibrahim. "Corruption as Cankerworms towards Economic Development in Nigeria." American International Journal of Social Science Research 1, no. 1 (September 21, 2017): 42–51. http://dx.doi.org/10.46281/aijssr.v1i1.161.
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Corruption has been corrosively eating the fabrics of the Nigerian nation. Its persistence in the form of fraud, mismanagement, misappropriation, diversion of public funds, tax evasion, money laundering etc. has led Nigeria into unfortunate national and even international circle of criminal minded persons. This therefore has made the development of the country and its attendant benefits only a paper work or rather an illusion. This paper conceptualizes corruption beyond the point of public officers taking bribes and gratification, committing fraud, stealing public funds and assets to equally include, deliberate violation of standards for gainful ends which may be in cash or kind. It therefore, encompasses any decision, act or conduct that is considered pervasive to democratic norms and values. The method utilized by this work is incidence analysis and documentary research. The paper which is divided into five sections concluded that, only anti-corruption policies and programs anchored on ethical, balanced, independent, and self-sustained, people oriented can succeed in Nigeria and thereby ensure national economic development. The paper recommended among other things for a successful anti-corruption crusade in third world countries that, international agencies such as Paris Club, IMF, World Bank, UNO should review their policies and conditions to reflect war against corruption especially among third World leaders even while in office. That a mandatory involvement of all community based organizations be considered in annual budget formulation, monitoring and evaluation to avoids misappropriation and looting in the country.
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Mousa, Hayder Talib, and Karim Salem Hussein. "Determinants of economic growth in Iraq: a standard study for the period (1970-2016)." Muthanna Journal of Administrative and Economic Sciences 11, no. 1 (May 5, 2021): 176–87. http://dx.doi.org/10.52113/6/2021-11/176-187.
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The subject of economic growth and development has taken a great space of importance in recent decades, level in terms of economic theory, scientific and academic research or the level of international institutions, and the level of countries and their economic orientations. Economic growth as a general phenomenon is a means of achieving various purposes. Growth rate or at least improve it by introducing all the conditions imposed by economic development. Economic growth remains the main concern of the various systems on the one hand and individuals on the other. It is at the top of the objectives of economic policies as it represents the material conclusion of economic and non-economic efforts in society
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OMENKA, NICHOLAS IBEAWUCHI. "BLAMING THE GODS: CHRISTIAN RELIGIOUS PROPAGANDA IN THE NIGERIA–BIAFRA WAR." Journal of African History 51, no. 3 (November 2010): 367–89. http://dx.doi.org/10.1017/s0021853710000460.
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ABSTRACTThe consensus among many analysts of the Nigeria–Biafra War is that the conflict cannot be reduced to a mono-causal explanation. The tragedy that befell the West African country from 1966 to 1970 was a combination of many factors, which were political, ethnic, religious, social, and economic in nature. Yet the conflict was unduly cast as a religious war between Christians and Muslims. Utilizing newly available archival materials from within and outside Nigeria, this article endeavours to unravel the underlying forces in the religious war rhetoric of the mainly Christian breakaway region and its Western sympathizers. Among other things, it demonstrates that, while the religious war proposition was good for the relief efforts of the international humanitarian organizations, it inevitably alienated the Nigerian Christians and made them unsympathetic to the Biafran cause.
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Oluwatayo, Isaac B., and Henrietta U. Ukpe. "Effect of Petroleum Pricing on Agricultural Production in Nigeria." International Journal of Agricultural and Environmental Information Systems 6, no. 3 (July 2015): 17–28. http://dx.doi.org/10.4018/ijaeis.2015070102.
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Nigeria is a dominant economic force in sub-Saharan Africa with a strong economy as well as booming oil and agricultural sectors. However, over-dependence on the production and export of oil as well as food imports has rendered the economy vulnerable to global price fluctuations. The increasing spate of fluctuations in the world price of oil affects not only the economic sector but also agricultural production. Despite the huge earnings from oil, Nigeria remains one of the most food insecure countries in the world. This study therefore estimates the effect of petrol or premium motor spirit (PMS) pricing on agricultural production using available time series data for 41 years (1970-2010) obtained from the Central Bank of Nigeria's Annual Statistical Reports and National Bureau of Statistic's Bulletins. The study reveals that the trend in production level of agricultural products persistently increased between 1984 and 2000, followed by a much lower growth rate between 2001 and 2002 sub-period and the increasing trend picked up again in 2003. There was an increasing trend pattern of petrol (PMS) prices except for 2009 when the price dropped from N70 to N65. Consumption of PMS was not relatively constant either. The Ordinary Least Square (OLS) results show that the quantity of agricultural output increased with the price of PMS. However, consumption of PMS had an inverse relationship with agricultural output.
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Akinyode, Babatunde Femi, and Emilia Oluwafolakemi Martins. "Effects of Poverty on Urban Residents’ Living and Housing Conditions in Nigeria." Journal of Arts and Humanities 6, no. 3 (March 16, 2017): 38. http://dx.doi.org/10.18533/journal.v6i3.1136.
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The importance of housing has made it received much attention worldwide among scholars and policy makers as a potential tool for man’s productivity. However, little is known about the poverty implications on the living and housing condition among Nigerian residents. This study aims at examining the effects of poverty among urban residents on their living and housing conditions in Nigeria. Questionnaires administration was made among 400 residents to assess residential attributes. Qualitatively supported with the aid of personal interview, observation and photographs. Correlation analysis was drawn between the residents’ socio-economic status and housing condition. Results through descriptive analysis established that majority of the housing exhibit deterioration condition. This resulted from the socio-economic situation and high poverty level of the residents. The result also showed robust and positive relationship between residents socio-economic and urban housing condition. This positive relationship demonstrates support for the negative impacts on the welfare of the residents. Urban housing attributes are of importance for residents’ safety, comfort and convenience to enhance productivity. In view of this, the authors are of opinion that, urgent attention is highly necessary if the residents are to live in an environment that is safe, convenience and comfortable in order to enhance their productivity.
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Ishioro, Bernhard O. "Banking Sector Reforms and Economic Growth: Recent Evidence from a Reform-Bound Economy." Binus Business Review 8, no. 1 (May 31, 2017): 49. http://dx.doi.org/10.21512/bbr.v8i1.1798.
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This research investigated the banking sector reforms and economic growth using time series data from 1970 to 2013 for the Nigerian economy. Autoregressive Distributed Lags (ARDL) Bounds test was applied for the specific determination of the long and short-run relationships between banking sector reforms and economic growth. The research finds that the interest rate margin is more significant than other variables in the model in explaining the banking sector reforms and economic growth. Banking sector credit to the private sector was negative and statistically insignificant in economic growth in Nigeria. This means that the size of the banking sector does not enhance economic growth. Meanwhile, inflation is negatively and statistically significant in economic growth. The duration of banking sector reforms should be defined and strictly adhered to irrespective changes in the political administration of the country.