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Journal articles on the topic 'Nigerian manufacturing sector'
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Sani, Idris Ahmed, Ajengbe Abidemi Samuel, and Wada Emmanuel Ome. "FOREIGN CAPITAL INFLOWS AND MANUFACTURING SECTOR GROWTH IN NIGERIA." Malaysian Management Journal 25 (July 9, 2021): 235–60. http://dx.doi.org/10.32890//mmj2021.25.10.
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The study examined the impact of foreign capital inflow on manufacturing sector growth in Nigeria using time series data from 1986 to 2019. The study specifically sought to examine the causal relationship between foreign capital inflows and the growth of the manufacturing sector in Nigeria in the long run The study employed the Autoregressive Distributed Lag (ARDL) estimation technique to account for the impact of foreign capital inflows on the manufacturing sector growth in Nigeria. The study utilized the Contribution of Manufacturing Sector to Gross Domestic Product (MGDP) as proxy for manufacturing sector growth. Manufacturing sector growth was the dependent variable while foreign direct investment (FDI), foreign portfolio investment (FPI) and foreign Aid (FOA) were the independent variables, and were regarded as proxies for foreign capital inflows. The study results revealed that foreign capital inflows through the FDI had a significant positive impact on contributions of the manufacturing sector to gross domestic product (GDP). The study also revealed that foreign capital inflows through the FPI had a significant positive impact on contributions of the manufacturing sector to the GDP. The study further revealed that foreign capital inflows through the FOA had a significant positive impact on contributions of the manufacturing sector to the GDP. Based on these findings, the study has recommended that the Nigerian government should promote foreign capital inflows through the FDI in order to achieve the desired level of manufacturing sector growth in the country’s economy in the long run. The government should also encourage foreign capital inflows through the FPI in order to attain the desired level of manufacturing sector growth in the Nigerian economy. Finally, the government should also support foreign capital inflows through the FOA in order to attain the desired level of manufacturing sector growth in the Nigerian economy in the long run.
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Sani, Idris Ahmed, Ajengbe Abidemi Samuel, and Wada Emmanuel Ome. "FOREIGN CAPITAL INFLOWS AND MANUFACTURING SECTOR GROWTH IN NIGERIA." Malaysian Management Journal 25 (July 9, 2021): 235–60. http://dx.doi.org/10.32890/mmj2021.25.10.
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The study examined the impact of foreign capital inflow on manufacturing sector growth in Nigeria using time series data from 1986 to 2019. The study specifically sought to examine the causal relationship between foreign capital inflows and the growth of the manufacturing sector in Nigeria in the long run The study employed the Autoregressive Distributed Lag (ARDL) estimation technique to account for the impact of foreign capital inflows on the manufacturing sector growth in Nigeria. The study utilized the Contribution of Manufacturing Sector to Gross Domestic Product (MGDP) as proxy for manufacturing sector growth. Manufacturing sector growth was the dependent variable while foreign direct investment (FDI), foreign portfolio investment (FPI) and foreign Aid (FOA) were the independent variables, and were regarded as proxies for foreign capital inflows. The study results revealed that foreign capital inflows through the FDI had a significant positive impact on contributions of the manufacturing sector to gross domestic product (GDP). The study also revealed that foreign capital inflows through the FPI had a significant positive impact on contributions of the manufacturing sector to the GDP. The study further revealed that foreign capital inflows through the FOA had a significant positive impact on contributions of the manufacturing sector to the GDP. Based on these findings, the study has recommended that the Nigerian government should promote foreign capital inflows through the FDI in order to achieve the desired level of manufacturing sector growth in the country’s economy in the long run. The government should also encourage foreign capital inflows through the FPI in order to attain the desired level of manufacturing sector growth in the Nigerian economy. Finally, the government should also support foreign capital inflows through the FOA in order to attain the desired level of manufacturing sector growth in the Nigerian economy in the long run.
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Ph.D, Nwakoby, Nkiru Peace, Dibua, Emmanuel Chijioke PhD, and Ezeanolue Uju Scholastica. "Determinants of Business Performance in the Nigerian Manufacturing Sector." International Journal of Trend in Scientific Research and Development Volume-3, Issue-3 (April 30, 2019): 760–66. http://dx.doi.org/10.31142/ijtsrd23141.
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John Asaleye, Abiola, Joseph Ibrahim Adama, and Joseph Olufemi Ogunjobi. "Financial sector and manufacturing sector performance: evidence from Nigeria." Investment Management and Financial Innovations 15, no. 3 (July 6, 2018): 35–48. http://dx.doi.org/10.21511/imfi.15(3).2018.03.
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Nigerian economy depends on oil as the major source of revenue, failure to diversify the revenue base has raised questions about its sustainability and implication on the economy. This study uses market capitalization, broad money stock, credit to private sector, prime interest rate and deposit liability as proxies for the financial sector, while output in the manufacturing sector and manufacturing employment are used as proxies for manufacturing performance. The study examines the causal effects, shock effect and long-run impact using Granger Non-Causality, Vector Error Correction Model, and Dynamic Ordinary Least Square method, respectively. The results showed unidirectional causality, confirming the hypothesis of the ‘supply-leading view’ and ‘demand-following view’ except for market capitalization and output in the manufacturing sector, where independence was observed. The variance decomposition shows that the forecast error shock of credit to private sector and prime interest rate show more variations in manufacturing sector performance than other financial indicators. The long-run result using output in manufacturing sector as dependent variable shows a positive significant relationship with other financial sector indicators, except for broad money stock and deposit liability. This study recommended credit channel for transmission of monetary policy using interest rate to improve the performance of manufacturing sector, among others.
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Sanya, Ogunsakin,. "Nigerian Financial Sector and Manufacturing Industries." IOSR Journal of Applied Chemistry 7, no. 3 (2014): 41–46. http://dx.doi.org/10.9790/5736-07314146.
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Mesagan, Ekundayo, Ndubuisi Olunkwa, and Ismaila Yusuf. "Financial Development and Manufacturing Performance: The Nigerian Case." Studies in Business and Economics 13, no. 1 (April 1, 2018): 97–111. http://dx.doi.org/10.2478/sbe-2018-0009.
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AbstractThe study focused on financial sector development and manufacturing performance in Nigeria over the period of 1981 to 2015. In the study, three indicators such as manufacturing capacity utilization, manufacturing output and manufacturing value added were employed to proxy manufacturing performance while money supply as a percentage of GDP, domestic credit to the private sector and liquidity ratio were employed to proxy financial development. The study observed that credit to the private sector and money supply positively but insignificantly enhanced capacity utilization and output, but negatively impacted value added of the manufacturing sector in the short run. There is slight improvement in the long where both money supply and credit to private sector exert positive impact manufactured output. Hence, it becomes crucial for commercial banks to make available certain percentage of their profits for industrial expansion in order to create linkages between both sectors.
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Olawumi, Ojo Rufus, and Sola Ogungbenle. "A Dynamic Panel Analysis of Drivers of Output Growth in the Nigerian Manufacturing Firms." European Scientific Journal, ESJ 14, no. 19 (July 31, 2018): 222. http://dx.doi.org/10.19044/esj.2018.v14n19p222.
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Regardless of the efforts of government to revamp the manufacturing sector in Nigeria, the sub-sector has remained ineffective with dwindling output and there have been consistent fluctuations in the share of the manufacturing sub-sector to Gross Domestic Product (GDP) in Nigeria. This study therefore examines the determinants of output growth in the Nigerian formal manufacturing sub-sector. The study made use of fifty (50) formal manufacturing firms listed in the Nigerian Stock Exchange Data for the formal manufacturing firms were sourced from the Nigeria Stock Exchange (NSE) Fact Book and the Central Bank of Nigeria Statistical Bulletin 2014. The estimated models in the study were specified following the works of Sangosanya (2011). The study employed the dynamic panel data analysis (the dynamic models of the Generalized Method of Moments (GMM) and the Systemic Generalized Method of Moments (SYSGMM)) for the Nigerian formal manufacturing sub-sector. The study showed that the coefficient of operating efficiency in the GMM&SYSGMM estimate, i.e. -0.0349214 and -0.0199787 respectively showed a negative relationship between OPREF and firms’ growth. This implied that information supplied by firms about their growth indicators is at variance with their performance. This further speaks volume of the weakness of regulatory agencies to effectively monitor the performance of manufacturing firms in Nigeria. Also, the study showed that exchange rate, bank efficiency and managerial efficiency have significant positive relationship with output growth of firms. Also variables such as degree of financial development, energy infrastructural facilities and government regulations and policy have significant negative impact with output growth of firms in Nigeria. Findings revealed that all the explanatory variables identified in the study are strong determinants of firm growth in the Nigerian manufacturing sub-sector. The study recommended among others that government should formulate and implement policies that would hinder formal manufacturing firms from publishing fake report of their growth. Also, government should formulate and implement policy measures that would make imported goods more expensive and appropriate monetary policies that would make the cost of borrowing from banks (interest rate) affordable should be priotised in Nigeria.
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E.A., Uju, and Ugochukwu P.O. "Effect of Monetary Policy on Industrial Growth in Nigeria." International Journal of Entrepreneurship and Business Innovation 4, no. 1 (June 7, 2021): 47–60. http://dx.doi.org/10.52589/ijebi-1z4iybye.
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Monetary policy is one of the regulatory measures of the government to checkmate the money supply in the economy in order to achieve the desired level of prices, employment, output, and boost the industrial sector growth. Industrialization has always constituted a major focus of development strategy and government policy. One of the engines of industrialization is enhancing manufacturing sector capacity; this study adopted manufacturing sector output to examine the effect of monetary policy on industrial growth in Nigeria between 1986 and 2019. Data for the study were collected from the CBN Statistical bulletin, 2019 edition. A multiple regression model was developed and the Ordinary Least Square (OLS) regression technique employed for data analysis. The results showed that Open Market Operation (OMO) measured by Treasury bill rate had positive and significant effect on the Nigerian Manufacturing Domestic Sector Gross Product; Cash Reserve Ratio (CRR) has a positive and significant effect on the Nigerian Manufacturing Sector Gross Domestic Product; and Monetary Policy Rate (MPR) has a negative and significant effect on the Nigerian Manufacturing Sector Gross Domestic Product. The study concludes that monetary policy is a veritable tool for enhancing industrial sector growth in Nigeria. It was recommended that the monetary authority should ensure a lower MPR that can drive up investment and thus boost growth of the industry.
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Omolade, Adeleke, and Harold Ngalawa. "Oil price movements, exchange rate and Nigerian manufacturing sector growth: a short-run analysis." Investment Management and Financial Innovations 15, no. 3 (September 26, 2018): 329–42. http://dx.doi.org/10.21511/imfi.15(3).2018.27.
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The paper conducts a short-run analysis of the implications of oil price movements and exchange rate relationship for the Nigerian manufacturing sector growth between January 2008 and September 2017. Monthly data are extracted on variables such as oil price, exchange rate, inflation rate, interest (lending) rate, money supply and the manufacturing sector growth rate. Oil price movements are viewed in terms of both volatility and change. While EGARCH is used to estimate oil price volatility, oil price change is measured using Hamilton index for both oil price sharp drop and jump. The SVAR results indicate that exchange rate and inflation rate are more responsive to sharp drop in oil price. The two variables also have the highest impact on the manufacturing sector growth. Findings further indicate that Nigerian manufacturing sector is more affected at the cost side than the output side. This underscores the importance of tackling the inflation pressure in Nigeria from the structural perspective as against the monetary perspective.
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Uma, Kalu E., Paul C. Obidike, Christiana O. Chukwu, Clementina Kanu, Regina A. Ogbuagu, Foluso O. C. Osunkwo, and Paul Ndubuisi. "Revamping the Nigerian Manufacturing Sub-Sector as a Panacea for Economic Progress: Lessons from South Korea." Mediterranean Journal of Social Sciences 10, no. 4 (July 1, 2019): 111–23. http://dx.doi.org/10.2478/mjss-2019-0057.
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Abstract The study focuses on repositioning the manufacturing sub-sector in order to revive Nigeria from the problem of “growthelessness”. The expository study examined the situation of the Nigerian economy and overview of the industrial policies employed to encourage development since after independence. Many challenges such as lack of indigenous technology, excessive reliance on foreign raw materials and manpower, inconsistence regarding policies and programmes, lack of linkages of production with domestic inputs among others were articulated to be responsible for the inability of the country to establish a reliable manufacturing sub-sector that is capable of harnessing idle resources, reduce unemployment and develop the economy. The study also examined an overview of industrial policies employed by South Korea which gave the country its success story. Lessons considered to play significant role to change Nigerian manufacturing sub-sector were drawn there from, among which include: reviving the economic environment with infrastructure and public service system so as to make the country industrial production compliance; consistent, persistent and perseverance on the part of resource controllers in spite of all odds toward goal attainment, adoption of appropriate indigenous technology, monitoring, evaluation and restrategising to improve the sector. This study has shown that Nigerian situation is capable of changing for better if what worked in South Korea manufacturing sub-sector is applied in Nigeria.
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Nkemjika, Ogujiofor Magnus, and Ofor Nkechi. "Corporate Social Responsibilities and Firm Performance: A Comparative study of Banking and Non-Bank Sector in Nigeria." International Journal of Management Excellence 8, no. 2 (February 28, 2017): 946–55. http://dx.doi.org/10.17722/ijme.v8i2.893.
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The objective this study is to ascertain the relationship between CSR and performance. The study compared what is obtainable in the Nigerian banking sector and the Nigerian manufacturing sector. Ten firms were selected, five each from the aforementioned sectors. Ordinary least square statistical technique was employed for the study .Result shows that CSR has significant impact on the performance of both firms in the manufacturing and the banking sector. The study also reveals that manufacturing companies expend more on CRS activities than bank. The study recommended that statutory bodies should mandate banks to go beyond donation and look at other areas of CSR. It further recommended that managements of the two sectors should take advantage of CSR in order to enhance their corporate performance
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Oladimeji, Moruff Sanjo, Olasunkanmi Akeem Amida, and Ekong Akpan Essien. "Business Innovation and Competitive Advantage in Nigerian Manufacturing Sector." EMAJ: Emerging Markets Journal 9, no. 2 (July 6, 2020): 37–43. http://dx.doi.org/10.5195/emaj.2019.188.
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The study examined the impact of business innovation on competitive advantage in the Nigerian Manufacturing Sector. The study was anchored on the theory of the resource-based theory and the dynamic capabilities theory. The descriptive survey design was employed. The population for the study comprised 496 staff of Nestle Nigeria Plc, Ogun State. A sample size of 217 respondents was selected through stratified sampling and a simple random sampling procedure. The questionnaire was administered to the respondents, out of which 207 were retrieved and subjected to further analysis. The stated hypotheses were tested using ordinal regression. The results showed that business innovation has a significant effect on the cost of the product (R2=0.729, F=11.237; p<.05), the sales of the product (R2=0.643, F=3.408; p<.05) and the quality of the product (R=0.845, R2=0.714, F=10.903; p<.05). The study recommended that multinational companies should pay more attention to customer satisfaction by increasing product quality. Emphasis should also be placed on innovation in order to cut a competitive edge.
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Omolade, Adeleke, Philip Nwosa, and Harold Ngalawa. "Monetary Transmission Channel, Oil Price Shock and the Manufacturing Sector in Nigeria." Folia Oeconomica Stetinensia 19, no. 1 (June 1, 2019): 89–113. http://dx.doi.org/10.2478/foli-2019-0007.
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Abstract Research background: The need for diversification of the Nigerian economy has been emphasized and the manufacturing sector has a major role in this. Being an oil producing country, monetary policy is an important macroeconomic policy that has always been used to manage the influence of oil price shock on the manufacturing sector. Purpose: The study examines the relationship between oil price shock, the monetary transmission mechanism and manufacturing output growth in Nigeria. Research methodology: The study applied the structural vector auto regression (SVAR) modelling technique and a descriptive analysis. Results: The results of the study show that the exchange rate is mostly affected by the oil price shock, while the monetary policy instruments and inflation rate are also very responsive to the exchange rate shock. The manufacturing sector output growth has also been shown to be strongly affected by the inflation rate and monetary policy shocks. Novelty: The study has revealed the most effective channel via which oil price shocks affect manufacturing output. The exchange rate channel of the monetary policy transmission mechanism is the most significant channel through which oil price shock affects manufacturing output growth in Nigeria. This shows that effective management of the exchange rate policy via the appropriate monetary policy approach can be used to minimize the adverse effect of oil price shocks on Nigerian manufacturing output.
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Ubesie, Cyril Madubuko, Amalachukwu Ananwude, Ezechi Nwanekpe Cyracus, and Ebe Emmanuel. "Does Fiscal Policy Tools have the Potential to Stimulate Performance of Manufacturing Sector in Nigeria?" Finance & Economics Review 2, no. 3 (October 1, 2020): 33–51. http://dx.doi.org/10.38157/finance-economics-review.v2i3.163.
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Purpose: There is no denying the fact that the Nigerian manufacturing sector is not performing up to the expectation. The poor performance of the manufacturing sector is attributed largely to the poor state of basic infrastructures, especially power supply, and good road networks. To this end, this study examined the potential of fiscal policy to stimulate manufacturing sector performance in Nigeria.
Methods: The model estimation employed the Ordinary Least Square (OLS) estimation technique, while the effect of estimation was carried out using the Granger causality test based on the data from the Central Bank of Nigeria (CBN) and Federal Inland Revenue Service (FIRS) for the period of 1986 to 2019.
Results: The result of the analysis revealed that recurrent expenditure has no significant effect on manufacturing sector performance. However, capital expenditure, fiscal deficit, and the company’s income tax significantly affect manufacturing sector performance.
Implications: The Federal, State, and Local governments should stop wasteful expenditure on unnecessary entertainment on meetings, seminars, workshops, foreign trips, etc. to increase spending on basic industrial infrastructures, most importantly on the power supply and road network to stimulate the manufacturing sector performance.
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Nnanna, Joseph. "Is China’s investment in Africa good for the Nigerian economy?" Journal of Chinese Economic and Foreign Trade Studies 8, no. 1 (February 2, 2015): 40–48. http://dx.doi.org/10.1108/jcefts-09-2014-0020.
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Purpose – The aim of this paper is to assess the impact of China’s trade agreement and foreign direct investment (FDI) flows to Nigeria with special reference to the manufacturing sector utilizing the following key economic performance indicators: inflation, unemployment, income and gross domestic product, to name a few. Since the turn of the millennium, China has enjoyed a substantial presence in the African continent. In fact, the country has signed bilateral agreements with Angola, South Africa and Sudan to name a few. Recently, China established its West African trade hub in Lagos, the economic capital of Nigeria, to be strategically positioned. The results of the study revealed conclusively that although China’s investments over the years have benefited the Nigerian economy and its various firms in the manufacturing sector, the agreement signed by both countries ultimately needs to be reexamined to ensure equity. Design/methodology/approach – To thoroughly analyze the effects of China’s investments in Nigeria, this study was carried out in two phases. The first analysis of this study is anchored on a “before/after” framework based on descriptive statistical analysis of the selected economic performance indicators chosen from selected cross-national data. Accordingly, the time frame for this study runs from 1993-2012 which roughly corresponds to the era when China commenced significant investments in Nigeria. Second, employees, policymakers and individuals in the manufacturing/textile industries were interviewed. Furthermore, participation from federal as well as local government agency staff members was solicited using the Delphi technique. Findings – Empirically, the results conclusively reveal China’s dominance in the manufacturing and textile sectors in Nigeria. In other words, at face value, China’s investments are ultimately good for the Nigerian economy. However, at a micro-level analysis, the researcher examined the human factor, that is, the families of former and current employees, abandoned businesses/factories and a decaying textile industry that was once vibrant. Originality/value – To the knowledge of the researcher, this is the first study attempting to assess the impact of the rise of China on the Nigerian economy by combining key economic performance indicator in tandem with face-to-face interviews and the Delphi technique.
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Okocha, Onyeka Linus, and Wan Norhayate Wan Daud. "The Impact of Lean Production and Flexible Manufacturing Strategies on Financial Performance of Manufacturing Companies in Nigeria." Journal of Management Theory and Practice (JMTP) 1, no. 3 (November 26, 2020): 90–97. http://dx.doi.org/10.37231/jmtp.2020.1.3.62.
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This research aims to investigate the impact of lean production strategy (LPS) and flexible manufacturing strategy (FMS) on financial performance (FP) in the Nigerian manufacturing sector (NMS). A quantitative research approach was applied, and a simple random sampling technique was chosen to identify the samples for this study. For this reason, data were collected from 101 manufacturing companies in Nigeria and a statistical tool; Statistical Package for Social Science (SPSS) version 26 was used to analyze the data. The result shows a significant relationship among the factors examined. Among the factors, the independent variable (LPS) had shown the most decisive impact compared to (FMS) on the dependent variable (FP) the study suggested. Findings from the study contribute and support Porter’s generic theory on existing literature, and practically to the Nigerian manufacturing companies by providing insights into this research area.
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Uzoma Ihugba, Bethel. "CSR stakeholder engagement and Nigerian tobacco manufacturing sub‐sector." African Journal of Economic and Management Studies 3, no. 1 (April 6, 2012): 42–63. http://dx.doi.org/10.1108/20400701211197276.
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Danmola, Rasaq Akonji, Adijat Olubukola Olateju, and Abubakar Wambai Aminu. "The Impact of Foreign Direct Investment on the Nigeria Manufacturing Sector: A Time Series Analysis." European Scientific Journal, ESJ 13, no. 31 (November 30, 2017): 521. http://dx.doi.org/10.19044/esj.2017.v13n31p521.
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The objective of the study reveals that FDI in the Manufacturing sector exacts a positive influence on the manufacturing output and the impact is statistically significant. This result further confirms the effectiveness of economic policy of the federal government of Nigeria through the adoption of liberalized industrial and trade policies. These policies were undertaken with a view to improve efficiency and productivity, as well as to improve the competitiveness of the Nigerian manufacturing industry. The policy implication is that,in order to maintain sustainable economic growth and development, a positive domestic investment is a prerequisite for increasing the flow of foreign investment in the manufacturing sector. Nigeria, while continuing to encourage inward FDI, efforts should be made to channel it into the manufacturing sector so as to accelerate the diversification process. In addition, the implementation of policy of trade liberalization should be reviewed and implemented with caution. The policy that will further make the economy more-import dependent will not augur well for the economy.
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Olasoji, Akinbayo. "The Impact of the Global Economic Meltdown on the Manufacturing Sector in Nigeria (2005 – 2009)." International Journal of Economics and Financial Research, no. 72 (June 2, 2021): 57–64. http://dx.doi.org/10.32861/ijefr.72.57.64.
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As several opinions and suggestions were made on the effect of the global economic meltdown on the Nigerian economy, however, few of these studies explored the impact of the crisis on the manufacturing sector of the economy. In this study, the effort is to provide empirical evidence of the impact on the sector. To achieve this, cross-sectional and time-series data were randomly collected from thirty-one (31) quoted firms across different sectors of the manufacturing sector and for a period of five years (2005-2009). A panel model analysis was employed as the estimating technique; it was considered as the most appropriate for the study. The objectives stated in the study were achieved, as the empirical findings revealed that the global economic meltdown had an impact on the Nigerian manufacturing sector. More so, the impact was negative on the sector and on its profitability all through the periods considered, as the impact was more severe in the year 2007. It was also revealed that profitability across the manufacturing firms in Nigeria is time-variant and cross sectionals variant. Finally, a set of policy recommendations were made as a result of the findings, in order to recognize the role of the manufacturing sector as the engine of growth, whose performance is crucial for economic dependency and transformation, these policies are to help in repositioning the sector from the bad state it was before and after the period of global economic crisis to an encouraging state: The sector need to have a strategic framework for industrial development that is domesticated, emphasis should be made on local sourcing of raw materials and technology so as to save guard the economy from the future severe impact of foreign economic shock, Government should ensure tight effective border control, power generation, transmission, and distribution should be improved, bailout funds and adequate credit should be made available. These and others, if carefully implemented, the manufacturing sector will be able to yield a positive result, possible as the driver of the economy by creating wealth, employment generation and economic prosperity.
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Akinkoye, Ebenezer Y., and Lukman Oyeyinka Oyelami. "Bank Recapitalization and Real Sector Performance: Empirical Evidence From Nigeria." International Journal of Finance & Banking Studies (2147-4486) 3, no. 1 (January 19, 2016): 126. http://dx.doi.org/10.20525/.v3i1.174.
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<p>This study investigates the impact of bank recapitalization on real sector performance in Nigeria. Specifically, the study examines the direct effect (bank investment) and indirect effect (loans and advances to real sector) on real<br />sector output growth between the period 1986 and 2012.This study departs from previous studies because we aggregate the three leading sectors (agriculture, manufacturing and building and construction) of the Nigerian<br />economy to arrive at our real sector index. Also, having carefully subjected our data to necessary econometric tests we employed chow test for structural break to test for the existence of policy shift between bank capital base and loan<br />to the real sector of the Nigerian economy as a result of bank recapitalisation policy .Similarly, OLS estimates was used to determine the direct and indirect effect of bank capital base and real sector output growth. The results from<br />structure break tests reveal that bank recapitalization policy causes policy shift in bank capital base and loan to real sector thus the policy is of significant impact to real sector performance .In corollary, the result from the OLS strongly<br />indicates that bank capital base has significant effect on real sector output growth directly and indirectly. We then conclude that Nigerian banks should be adequately capitalised as to play active intermediateting roles expected of<br />them in this modern and competitive global economy</p>
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Akinkoye, Ebenezer, and Lukman Oyeyinka Oyelami. "Bank Recapitalization and Real Sector Performance." International Journal of Finance & Banking Studies (2147-4486) 3, no. 1 (July 21, 2014): 126–36. http://dx.doi.org/10.20525/ijfbs.v3i1.174.
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This study investigates the impact of bank recapitalization on real sector performance in Nigeria. Specifically, thestudy examines the direct effect (bank investment) and indirect effect (loans and advances to real sector) on realsector output growth between the period 1986 and 2012.This study departs from previous studies because weaggregate the three leading sectors (agriculture, manufacturing and building and construction) of the Nigerianeconomy to arrive at our real sector index. Also, having carefully subjected our data to necessary econometric testswe employed chow test for structural break to test for the existence of policy shift between bank capital base and loan to the real sector of the Nigerian economy as a result of bank recapitalisation policy .Similarly, OLS estimates was used to determine the direct and indirect effect of bank capital base and real sector output growth. The results from structure break tests reveal that bank recapitalization policy causes policy shift in bank capital base and loan to real sector thus the policy is of significant impact to real sector performance .In corollary, the result from the OLS strongly indicates that bank capital base has significant effect on real sector output growth directly and indirectly. We then conclude that Nigerian banks should be adequately capitalised as to play active intermediateting roles expected of them in this modern and competitive global economy.
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Eburajolo, Courage Ose, and Leonard Nosa Aisien. "IMPACT OF COMMERCIAL BANKS’ CREDIT TO THE REAL SECTOR ON ECONOMIC GROWTH IN NIGERIA." Oradea Journal of Business and Economics 4, no. 1 (March 2019): 38–46. http://dx.doi.org/10.47535/1991ojbe058.
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The study examined the effect of commercial bank sectorial credit to the manufacturing and agricultural sub-sectors on economic growth in Nigeria with time series data from 1981 to 2015, using co-integration and error correction mechanism for the empirical work. A three equation model was specified to analyze this study, and the variables include; real GDP, bank sectorial credit to manufacturing and agriculture subsectors, monetary policy rate, financial market development, sourced from CBN statistical bulletin and also the interaction variables. The variables were tested for unit root using the Augmented Dickey Fuller approach and were found to be stationary. The empirical result revealed that commercial bank credit to the manufacturing and agricultural subsectors significantly affects economic growth in Nigeria both in the short run and in the long run. Furthermore, development of the financial sector enhances the growth effects of commercial banks credit to the manufacturing and agricultural subsectors of the economy. It was therefore recommended that the Nigerian apex financial authorities should encourage banks via deliberate policy to increase credits to these subsectors of the economy.
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ISHIORO, Bernhard O. "Banking Sector Reforms and the Performance of the Nigerian Industrial Sector." European Journal of Multidisciplinary Studies 6, no. 2 (June 10, 2017): 332. http://dx.doi.org/10.26417/ejms.v6i2.p332-332.
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The Nigerian economy has been experiencing a lot of reforms in the banking subsector. Despite these reforms that ought to have enhanced the performance of the industrial sector of the economy, the weak performance of the industrial sector has survived unscathed and prolonged. Therefore, the major interest of this paper is to investigate the long and short-run relationships existing between banking sector reforms and the performance of the industrial sector in Nigeria. The study begins with a review of the banking sector reforms and the link to the industrial sector performance. Time series data from 1982-2015 are used to empirically assess the long-run relationship between banking sector reforms-targeted variables and the Nigerian industrial sector. The Modified PANTULA Principle was adopted in the selection of the most suitable variant of the Johansen Cointegration technique and found that model three was only suitable in the determination of the long-run relationship between commercial banks credit to the industrial sector and industrial production, and not manufacturing capacity utilisation.Summary of the variants of the Johansen cointegration equations were provided to facilitate a robust discussion of the long-run relationship between the indicators of banking sector reforms and industrial sector performance. A modified variant of causality test was adopted in the investigation of the direction of causality that exist between the reforms variables and industrial sector performance indicators. Various lag selection techniques were applied and found the Final Prediction Error(FPE) as most suitable. The Vector Auto Regression (VAR) impulse response and variance decomposition were applied to determine the effects of the reforms shocks on the industrial sector performance variables. The results shows amongst other that in the era reforms, the shocks from the banking sector credit to the industrial sector is higher than other reforms indices. This makes credit to the industrial sector a potent force in the enhancement of industrial sector performance in Nigeria. Therefore, banking sector reforms should be designed to enhance the consistent flow of credit to the industrial sector of the economy. Structural breaks were also applied to see the effects of the changes in reforms on the performance of the industrial sector.
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Olalekan, David, Oladipo, Noah, Oluwashina Afees, and Agbalajobi, Sunday Ayodele. "An Empirical Analysis of the Contribution of Mining Sector to Economic Development in Nigeria." Khazar Journal of Humanities and Social Sciences 19, no. 1 (April 2016): 88–106. http://dx.doi.org/10.5782/2223-2621.2016.19.1.88.
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Nigeria is richly endowed with vast but largely untapped natural resources including solid minerals and arable land. Mining industries have been viewed as key drivers of economic growth and development process, as lead sectors that drive economic expansion which can lead to higher levels of social and economic well being. Contributions from mining as a percentage of GDP in rich countries are usually between 2-8 percent. In Nigeria, the contribution is still low at 0.15 percent, one of the major factors responsible for this is as a result of over dependence of the Nigerian economy on the proceeds from the sale of crude oil for over four decades which is at the expense of other sectors such as mining and agriculture that contributed significantly to the Nigerian economy before the emergence of crude oil. In the light of this, the study presents an empirical analysis of the contribution of mining sector to the economic development in Nigeria from 1960 to 2012. The study employed Error Correction Model (ECM) to examine the short run and long run effect of mining sector‟s contribution to Nigeria economic development. The study harnessed time series data to evaluate the impact of the specified key sectors; crude petroleum and gas, solid mineral, manufacturing and agriculture on the economic development proxied by per capita income. Equally highlighted are the problems militating against the mining sector in Nigeria and the strategies for its transformation of the economy. The finding revealed that the value of solid mineral have strong impact on economic development in Nigeria. Thus, Nigeria needs to urgently develop her monumental mining potentials in order to diversify her economy and to achieve rapid economic growth and development.
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AIYEDOGBON, John O., and Sarah O. ANYANWU. "Macroeconomic Determinants of Industrial Development in Nigeria." Nile Journal of Business and Economics 1, no. 1 (March 7, 2016): 37. http://dx.doi.org/10.20321/nilejbe.v1i1.44.
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<p>The paper focuses on the impact of macroeconomic determinants on industrial productivity in Nigeria for the period, 1981-2013. It was discovered that while the Nigerian government had embarked on a number of industrial development strategies with the sole purpose of boasting industrial productivity in Nigeria, they seem to have yielded little or no result. The macroeconomic variables in the study include industrial production index, exchange rate, consumer price index, interest rate, broad money supply, foreign direct investment, credit to manufacturing sector and gross domestic product. The study employed OLS technique and found that exchange rate exert significant positive impact on industrial productivity in Nigeria. Also, the impact of interest rate, FDI and real GDP on industrial production index is positive. On the other hand, consumer price index, broad money supply and credit to manufacturing sector exert negative impact on industrial development in Nigeria. The paper recommended that a workable M2 that can enhance credit to manufacturing sector and at the same time control interest rate to boast investment should be determined.</p>
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Clement I., Ezeanyeji, and Onwuteaka Ifeoma C. "Determinants of Exchange Rate Sensitivity on the Nigerian Manufacturing Sector." Economy 3, no. 1 (March 1, 2016): 40–50. http://dx.doi.org/10.20448/journal.502/2016.3.1/502.1.40.50.
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Lawal, Babatunde. "Accounting Information and Managerial Decision Making in the Manufacturing Industry in Nigeria." Advances in Social Sciences Research Journal 6, no. 9 (September 23, 2019): 143–55. http://dx.doi.org/10.14738/assrj.69.6967.
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In the contemporary business world, the role of accounting information in making or marring a business cannot be overemphasized. Recent worldwide advances in manufacturing technologies have brought about a metamorphosis in industry. This paper established the relationship between accounting information and managerial decision making in the manufacturing industry in Nigeria. The study was guided by the following research objectives; to establish the relationship that exists between accounting information and production decisions; to evaluate the relationship that exists between accounting information and human resource management decisions and to assess the relationship that exists between accounting information and marketing decisions in the Nigerian manufacturing sector. The research design adopted for this study is the survey design. The population of the study comprised of the eight companies in beverage sector of the manufacturing industry in Nigeria. The survey research made use of Seven Up Bottling Company Plc, and Nigeria Bottling Company as representatives of the manufacturing industry. Primary data was collected through administering of questionnaire to the staff of the companies. The sample size of the study was 382 derived from the Yaro Yamani’s formula. Based on the findings, it was concluded that accounting information has an effect on managerial decision making in the Nigerian manufacturing industry. The study recommended that due to the importance of human capital in any organisation, promotion, transfer and retrenchment decisions should be handled with utmost sensitivity. Also, accounting information should therefore be inculcated into the taking of such decisions as it will affect the human resource management department and the organisation as a whole if the wrong decision is taken.
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Nenbee, Simeon G., and Jonah O. Orji. "Naira - Yuan Diplomacy: A Pathway for Unlocking Nigeria’s Manufacturing Sub-Sector Potentials." Mediterranean Journal of Social Sciences 12, no. 1 (January 17, 2021): 79. http://dx.doi.org/10.36941/mjss-2021-0006.
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The fountain head for weighing one unit of a domestic currency in-terms of another within an international framework is rooted in the famous Gold Standard proposed by the Bretton Woods Institutions (BWIs). This brand of thought had since been practiced and experienced in numerous trade ties that Nigeria had had with China. Like other bilateral agreements, it sets to re-define and deepen the two countries’ economic space. Thus, this paper shed lights on Naira - Yuan Diplomacy as a Pathway for Unlocking Nigeria’s Manufacturing Sub-Sector Potentials.The manufacturing industries are engines of economic prosperity. Facilitation of job creation space and poverty reducing strategies are core values in manufacturing too. This paper conclusively presume that the exchange rate pass-through mechanism can transmit price increase and macroeconomic instability from China and supply shocks to the Nigerian economy (especially from manufactured products) when adequate provisions are not domestically taken. Furthermore, the Naira-Yuan diplomacy will increase imports from China thereby increase her foreign income since Nigeria will be spending more on Chinese manufactured products, hence, increase the national income of China. The policy implication of this finding is that the net exports of China will rise faster and add to her expansion of domestic income instead of Nigeria. The paper therefore calls upon Nigeria to be proactive in ensuring a stable trade and exchange rate policies to deepen technical innovation for local manufacturing tools to boost output rather than depending more on China.
Received: 18 August 2020 / Accepted: 9 October 2020 / Published: 17 January 2021
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Eze, Benneth Uchenna, Adekunle Abdul, Emmanuel Kanayo Nwaba, and Azeez Adebayo. "Organizational Culture and Intrapreneurship Growth in Nigeria: Evidence from Selected Manufacturing Firms." EMAJ: Emerging Markets Journal 8, no. 1 (August 17, 2018): 39–44. http://dx.doi.org/10.5195/emaj.2018.147.
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The study examines the effect of organizational culture (measured by organizational norms and organizational shared values) on intrapreneurship growth in manufacturing sector of the Nigerian economy. Survey research design was used through the administration of structured questionnaire to members of staff of Nestle Nigeria PLC and PZ Cussons Nigeria PLC. The population of the study consist 2325 and 3500 staff of Nestle Nigeria PLC and PZ Cussons Nigeria PLC respectively. Using the Raosoft sample size determination technique, a sample size of 359 was obtained. The findings revealed that, organizational culture positively and significantly affect intrapreneurship growth in manufacturing firms in Nigeria. The study further revealed that, organizational norms and organizational shared values significantly affect intrapreneurship growth in the manufacturing sector in Nigeria, with coefficient and probability values of (β1=0.982, p<0.05) and (β2=0.901, p<0.05) respectively. The adjusted coefficient of determination (adj. R squared) revealed that, organizational culture elements account for 69.8% variation in intrapreneurship growth. Thus, the study concluded that organizational culture plays a significant role in promoting intrapreneurship growth. It is recommended that, manufacturing firms should enhance their organizational norms as well as their organizational shared values towards the growth of intrapreneurship within their firms.
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Subair, Kolawole, Sheriffdeen Talla, and Russell Olukayode Christopher Somoye. "Dynamics of Exchange Rate and the Performance of Service Industry: The Nigerian Experience." Jinnah Business Review 7, no. 1 (January 1, 2019): 1–10. http://dx.doi.org/10.53369/tdgg1803.
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The re-basing of the Nigerian economic data since 2013 has shown the growing relevance of the service sector to the economic development of Nigeria. The need to investigate the nexus between the service sector and macroeconomic variables become imperative in view of inadequate research attention in the past and the present desirable concern for policy shifts in favor of promoting activities in the sector. It is in this context that our paper considered the effects of exchange rate behavior on the performance of the service industry in Nigeria. More so that it is becoming increasingly clear that the openness of the Nigerian economy to the outside world and the seeming dollarization of earnings from economic activities, even with high local content, have varied impacts on economic behavior in many sectors of the economy. A comprehensive study was carried out to determine the relationship between the dynamics of exchange rate and the service industry activities. The data used include services, exchange rates, money supply, domestic credit, interest rate and inflation covering the period of 1981- 2015. Using the ARDL, a 10% point increase in exchange rate volatility and domestic credit increases service output growth (SER) by 0.68% and 5.15% respectively. The paper thus suggest that there must be reforms in government polices to remove barriers to entry by private investors into certain services in order to prevent market distortions and reduce cost of capital so as to enhance an integrated services-manufacturing industrial growth.
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Ojiya, Emmanuel Ameh, Ngwu Jerome Chukwuemeka, B. A. Daneji, and George Duhu Isiwu. "An Examination of the Impact of Power Sector Reform on Manufacturing and Services Sector in Nigeria: an Empirical Analysis." International Journal of Advances in Applied Sciences 7, no. 2 (June 1, 2018): 117. http://dx.doi.org/10.11591/ijaas.v7.i2.pp117-126.
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<p><em>The main objective of this study is to empirically examine the impact of Power Sector Reform on Manufacturing and Services Sector in Nigeria between 1999-2016. The study employed secondary annual time series data sourced from World Bank database (2016). The methodology adopted for the study was Augmented Dickey-Fuller (ADF); a test for long-run relationship using ARDL Bounds Testing approach with analysis of long-run and short-run dynamics in the model. A striking revelation from the study is the inverse relationship that exists between manufacturing output and electricity consumption in Nigeria within the period referenced. </em><em>This negative relationship is not unconnected with widespread allegation of misappropriation of budgeted funds for the Power Sector by successive administrations in Nigeria since 1999. It must be stated in clear terms that constant and consistent electricity generation, transmission and distribution is sine-qua-none for the growth of the national economy. Virtually all sectors of the economy depend on the supply of electricity to do business and so the lack of this vital ingredient of growth contributes in no small measure in stagnating economic growth and development. Efforts at reforming the power sector can only be fruitful when ALL stakeholders in the power sector including the political class put away their personal agendas and take the bull by the horn towards rescuing the nation from the looming danger of stagnant economic growth. Furthermore, </em><em>there is the need for the Nigerian government to come up with new, better and alternative ways of improving energy generation and supply, as well as proper maintenance of electricity infrastructure in the country.</em></p>
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Adeyeye, Adedamola D., Oluseye O. Jegede, Adekemi J. Oluwadare, and Folake S. Aremu. "Micro-level determinants of innovation: analysis of the Nigerian manufacturing sector." Innovation and Development 6, no. 1 (June 11, 2015): 1–14. http://dx.doi.org/10.1080/2157930x.2015.1047110.
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Ubesie, Madubuko Cyril, and Matthew Emeziem Ude. "Responsiveness of Capital Market on the Output of Manufacturing Firms in Nigeria." International Finance and Banking 6, no. 1 (April 19, 2019): 17. http://dx.doi.org/10.5296/ifb.v6i1.14693.
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Capital market provides the necessary lubricant that keeps turning the wheel of the economy. It does not only provide the funds required for investment but also efficiently allocates these funds to projects of best returns to investors. This study empirically examined the responsiveness of capital market on productivity (Output) of manufacturing firms in Nigeria (1990 – 2016). Specifically, the study examined the impact of Market capitalization, Total listed equities and All Share Index on the productivity (Output) of manufacturing firms in Nigeria. Annual time series data obtained from the Central Bank of Nigeria (CBN) statistical bulletin, 2016 edition was utilized. The study adopted the ex-post facto research design and employed the Autoregressive Distributed Lag (ARDL) bound test approach. The findings revealed that capital market indices of the Nigerian Stock Exchange (proxy by MCAP, TLE, and ASI) have long-run significant influence on the productivity of manufacturing firms in Nigeria. Based on these findings, it was recommended among others that there is need to restore confidence to the market by regulatory authorities through ensuring transparency and fair trading transaction and dealings in the stock exchange which in turn will help to improve economic growth in Nigeria; also that the private sector should be encouraged to invest in capital market to boost productivity (Output) and improve the growth of Nigerian economy.
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Ajudua, Emmanuel Ifeanyi, Enesi Chukwuemeka Majebi, and Vivian Anietem Odishika. "Harnessing The Potentials of Non-Oil Sectors of The Nigerian Economy to Enhance Sustainable Growth." Signifikan: Jurnal Ilmu Ekonomi 10, no. 1 (March 14, 2021): 51–62. http://dx.doi.org/10.15408/sjie.v10i1.18493.
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In the face of global oil price instability, which seems to negatively impact the Nigerian economy, this study examined how the Nigerian government and its stakeholders have explored other sectors of her economy, such as agriculture, manufacturing, and tourism, enhancing sustainable growth. In achieving this, the study employed a time series data covering 24 years (1995-2018). The variables used in the study were real gross domestic product (RGDP), tourism share of GDP, agriculture share of GDP, and manufacturing share of GDP. The unit root test using the Augmented Dickey-Fuller test was conducted to test for stationarity among variables employed. The Autoregressive Distributive Lag Bound Test for Co-integration was also employed, while the ECM was also conducted to check for the speed of adjustment.The study findings revealed that, while the Nigerian government and industry stakeholders have made significant investments in the agriculture sector through the development of improved seedlings and farm infrastructure, there is a need for more investment in the manufacturing and tourism sectors of the nation's economy to boost her gross domestic product.JEL Classification: O13, O14, Q01, Z32How to Cite:Ajudua, E. I., Majebi, E. C., & Odishika, V. A. (2021). Harnessing The Potentials of Non-Oil Sectors of The Nigerian Economy to Enhance Sustainable Growth. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 51-62. https://doi.org/10.15408/sjie.v10i1.18493.
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OLABISI, J., O. FAPETU, and T. P. ONYEKUWULUJE. "DETERMINANTS OF DIVIDEND POLICY AMONG NIGERIAN LISTED CONSUMER GOODS MANUFACTURING COMPANIES." Journal of Humanities, Social Science and Creative Arts 12, no. 1 (May 17, 2019): 92–104. http://dx.doi.org/10.51406/jhssca.v12i1.1862.
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The study seeks to identify determinants of dividend policy among listed consumer goods manufacturing companies in Nigeria. Secondary (cross sectional and time series) data were collected from seven (7) consumer goods manufacturing companies randomly selected from twenty-seven (27) listedcompanies on the Nigeria Stock Exchange (NSE) as at 2016. Thecollected data were analyzed using Ordinary Least Square Methods. The resultsof the study show that there is a negative significant relation between profitability and dividend policy (b3= -0.43; t= -2.88 and p<0.05). Also, a positive significant relationship exists between liquidity and dividend (b4 =0.17; t=1.04 and p<0.05).However, there is no significant relationship between firm size and dividend policy (b1= 0.017; t= 0.10.7 and p> 0.05) and finally a negative insignificant relationship exists between financing policy and dividend policy (b2= - 0.12; t= - 0.70 and p > 0.05). This implies that business size and financing policyare not determinants ofdividend policy in Nigerian listed consumer manufacturing companies. The study recommends, among other things, that operators in the manufacturing sector facing dividend policy decision should focus more on improving profitability and liquidity.
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Ikenwa, Kenneth O., Abdul-Hammed A. Sulaimon, and Owolabi L. Kuye. "Transforming the Nigerian Agricultural Sector into an Agribusiness Model – the Role of Government, Business, and Society." Acta Universitatis Sapientiae, Economics and Business 5, no. 1 (November 1, 2017): 71–115. http://dx.doi.org/10.1515/auseb-2017-0005.
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AbstractThis paper proposes that the transformation of the agric sector into an agribusiness model will contribute to repositioning Nigerian economy from its backwater position in the world’s economy. This proposition was investigated with the help of a review of literature and analysis of secondary time series data from the period of 2005–2014, which represented the contributions of the agricultural, manufacturing, oil and gas, and service sectors in Nigeria. One hypothesis was formulated and investigated with thet-test, correlation, and regression tests. The test results were positive and statistically significant at.05 alpha level, and they showed that agriculture has the potential to consistently have a significant effect in contributing to the growth of the Nigerian GDP both in the short and long run. These results justify the clarion call within the government and business sectors to diversify the economy and return to agriculture as the country’s bedrock for economic stability, especially as global economy becomes more volatile, uncertain, turbulent, and ambiguous. To this end, six strategies and twelve policy recommendations are suggested towards the implementation of a Structural Adjustment for Agribusiness Promotion (SAFAP) in Nigeria, and this is to be implemented as an action plan for pursuing a nationwide agricultural revolution. The paper concludes that, in view of its Vision 20:2020 to be among the top twenty economies in the world, Nigeria can become positioned to be a major player in global economy by diversifying from an oil-dependent economy into agribusiness and agric trade.
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Asaleye, Abiola John, Rotdelmwa Filibus Maimako, Henry Inegbedion, Adedoyin Isola Lawal, and Adeyemi A. Ogundipe. "Real Exchange Rate and Manufacturing Performance in Nigeria." Academic Journal of Interdisciplinary Studies 10, no. 2 (March 5, 2021): 279. http://dx.doi.org/10.36941/ajis-2021-0058.
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The efficacy of currency devaluation to improve output in Nigeria is under debate, and coupled with an unsatisfactory result in the behaviour of the manufacturing sector performance regenerated interest of this study to investigate the impact of exchange rate on output and employment in the sector. The work uses Structural Vector Autoregression, ECM and Canonical Co-integrating Regression to examine the shock effect, short and long-run elasticities of exchange rate on the manufacturing performance. While employment and output are used as a proxy for manufacturing sector performance. The findings show that changes in the exchange rate are fairly elastic with output and employment both in short and long-run. However, changes in the exchange rate are insignificant with employment in the short run. The variance decomposition form the SVAR shows that forecast error shock of the exchange rate is more prolong on employment than output. Consequently, the result of the estimation of the Impulse Response Function from the Monte Carlos shows that one standard deviation of the exchange shock adversely affect employment. The outcome of the result indicates that the Nigerian exchange rate has not improved output and employment in the manufacturing sector. Several factors may be accounted for this, although, it may be due to cost-push inflationary pressure and unfavourable competitiveness. The study suggests the need to encourage long-term supply-side policies among others to improve the situation.
Received: 7 June 2020 / Accepted: 9 January 2021 / Published: 5 March 2021
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Okechukwu, Obiora G., Glauco De Vita, and Yun Luo. "The impact of FDI on Nigeria’s export performance: a sectoral analysis." Journal of Economic Studies 45, no. 5 (October 8, 2018): 1088–103. http://dx.doi.org/10.1108/jes-11-2017-0317.
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Purpose The purpose of this paper is to examine the foreign direct investment (FDI)–exports relationship in Nigeria using disaggregated FDI and export data. Design/methodology/approach This paper applies the autoregressive distributed lag cointegration approach in examining the long-run relationship between FDI and exports. Findings The results suggest that aggregate FDI has a positive and statistically significant long-run impact on total exports. Once exports are disaggregated into oil and non-oil exports, the positive, cointegrating relationship holds only for oil exports. When disaggregated by sector, primary sector and manufacturing sector FDI have a positive and significant long-run relationship with both total exports and oil exports but service sector FDI does not appear to have any significant influence on Nigerian exports. Originality/value This is the first paper that employs both sectoral FDI and disaggregated export data to examine the FDI–exports nexus in Nigeria.
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Moyo, Busani. "Do Power Cuts Affect Productivity? A Case Study Of Nigerian Manufacturing Firms." International Business & Economics Research Journal (IBER) 11, no. 10 (September 19, 2012): 1163. http://dx.doi.org/10.19030/iber.v11i10.7262.
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The primary objective of this study is to examine the impact of power disruptions on firm productivity in the manufacturing sector in Nigeria. Using OLS and the Tobit models, results show that power outage variables (measured using hours per day without power and percentage of output lost due to power disruptions) have a negative and significant effect on productivity, particularly on small firms. The significance of power outage variables suggests that there is need for the Nigerian government to come up with ways of improving energy generation and supply, as well as proper maintenance of electricity infrastructure in the country. Deliberate efforts by the government to improve power infrastructure will result in the countrys being able to increase electricity production threefold and thus optimally utilize its installed generating capacity of 5900MW.
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Akinsokeji, Rogers A. "IMPACT OF BOARD STRUCTURE ON FIRM PERFORMANCE IN THE NIGERIAN MANUFACTURING SECTOR." Oradea Journal of Business and Economics 3, no. 1 (March 2018): 56–65. http://dx.doi.org/10.47535/1991ojbe035.
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In this study, the impact of board structure on firm performance is empirically examined using a large cross section of 50 manufacturing firms in Nigeria and the panel data estimation technique. Both the random and fixed effects methods are adopted to provide robust estimates from the pooled data for the firms over a ten-year period (2005-2014) and the estimations are performed using two measures of firm performance and three measures of board structure. The empirical results from the analysis show that board structure has a significant impact on performance of manufacturing firms in Nigeria. The main source of the impact is through board independence and faintly through board size. However, board composition seems to exert very little effect on firm performance for the sample in the study. Also, firm size is shown to be an essential factor in explaining the general behaviour of firm performance and the pattern of effect that board structure has on firm performance. The effect of size is observed by controlling for it in the performance estimations. The study shows that firm size tends to improve the effect of board structure on performance, apart from EPS. The optimization of board size and composition is desirable for performance especially in a setting like Nigeria with diverse firm characteristics.
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Ogunyomi, Ogunyomi. "Globalization and economic security in Nigeria: A reflection of the Nigerian manufacturing sector performance (1981 -2010)." Journal of Economics and International Finance 5, no. 7 (October 31, 2013): 293–306. http://dx.doi.org/10.5897/jeif12.104.
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Adenikinju, Adeola F., and Olumuyiwa B. Alaba. "Energy use and productivity performance in the Nigerian manufacturing sector (1970-90)." OPEC Review 23, no. 3 (September 1999): 251–64. http://dx.doi.org/10.1111/1468-0076.00066.
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Ku, H. S.-L., U. Mustapha, and S. Goh. "Literature review of past and present performance of the Nigerian manufacturing sector." Proceedings of the Institution of Mechanical Engineers, Part B: Journal of Engineering Manufacture 224, no. 12 (June 23, 2010): 1894–904. http://dx.doi.org/10.1243/09544054jem1818.
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Mustapha, Y. I., A. I. Nafiu, F. A. Abdul, and O. J. Omolekan. "Determinants of Board Size and Its Composition: Evidence from Nigerian Manufacturing Sector." Kelaniya Journal of Management 9, no. 1 (June 10, 2020): 67. http://dx.doi.org/10.4038/kjm.v9i1.7623.
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Ehinomen, Dr Christopher. "Exchange Rate Management and the Manufacturing Sector Performance in the Nigerian Economy." IOSR Journal of Humanities and Social Science 5, no. 5 (2012): 1–12. http://dx.doi.org/10.9790/0837-0550112.
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Njogo, Bibiana, Jaiyeoba Oladele, and Oladotun Mabinuori. "Investors’ sentiment and stock trading in the Nigerian capital market." Caleb International Journal of Development Studies 3, no. 2 (November 30, 2020): 236–48. http://dx.doi.org/10.26772/cijds-2020-03-02-014.
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This study examined the relationship between investors sentiment and stock trading for thirty listed firms in Nigeria, covering periods of 2015-2019. This study comes at a time when behavioral economics gains larger interest in investment decision. This school of thought dismisses the assertion of neoclassical economics that markets are efficient;, hence they cannot be beaten by consistently earning abnormal profits. Two research objectives were formulated for the study, which borders on determining whether investors’ sentiment affects stock trading of corporate firms in Nigeria, and whether investors’ sentiment affect trading stocks for industries in Nigeria differently. Data for the study were sourced from banking, manufacturing, and insurance sectors of the Nigerian Stock Exchange. Fixed effect regression was used to analyse the effect of investors’ sentiment on stock trading. The Analysis of Covariance was used to examine whether investors’ sentiment differently affect trading stocks for different sector in Nigeria. The results obtained showed that investors’ sentiment exerts significant impact on stock trading of the firms investigated, and it is used to affect trading stocks for industries in Nigeria differently. The study recommends that investors should make use of fundamental analysis and technical analysis to trade stocks. Keywords: Behavioural economics, efficient market hypothesis, Investors’ sentiment, neoclassical economics, and stock trading.
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Adu, Omobola, Oghogho Edosomwan, Abiola Ayopo Babajide, and Felicia Olokoyo. "Industrial development and unemployment in Nigeria: an ARDL bounds testing approach." International Journal of Social Economics 46, no. 1 (January 14, 2019): 83–96. http://dx.doi.org/10.1108/ijse-10-2017-0448.
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Purpose The industrial sector has been identified as one of the means to address the issue of unemployment due to its role in ensuring sustainable development. However, evidence from the Central Bank of Nigeria Statistical Bulletin reveals that the sector lags behind the agricultural and services sector in terms of its contribution to the gross domestic product. In light of this, the purpose of this paper is to ascertain whether the industrial sector development is a veritable tool in addressing the issue of unemployment in the long run for the Nigerian economy. Design/methodology/approach In order to determine whether industrial development is a veritable tool in addressing the issue of unemployment in the long run, the study makes use of the Autoregressive Distributed Lag model. The choice of this method over the commonly used Johansen co-integration approach is that it provides the mechanism to estimate the model in the presence of different order of integration among the macroeconomic variables; it allows us to combine and I(0) and I(1) series, while there is strict assumption of I(1) for all variables under the Johansen approach. Findings The major finding of the paper is that an inverse and elastic relationship exists between industrial output and unemployment. This suggests that the unemployment rate is very sensitive to changes in the industrial sector in Nigeria. Research limitations/implications The major limitation is the availability of recent data to capture recent happenings in the Nigerian economy. Originality/value The paper considers the entire sector encompassed in the industrial sector as opposed to focusing on just the manufacturing sector.
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Anazonwu, Helen Obiageli, Francis Chinedu Egbunike, and Ardi Gunardi. "Corporate Board Diversity and Sustainability Reporting: A Study of Selected Listed Manufacturing Firms in Nigeria." Indonesian Journal of Sustainability Accounting and Management 2, no. 1 (June 2, 2018): 65. http://dx.doi.org/10.28992/ijsam.v2i1.52.
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The objective of the study is to ascertain the influence of corporate board diversity on sustainability reporting on a sample of quoted manufacturing firms in Nigeria. The study adopts a panel research design. The population of the study comprised quoted manufacturing companies on the Nigerian Stock Exchange. This was restricted to companies classified under conglomerates, consumer goods, and, industrial goods sector. The study used secondary data, extracted from the annual reports of the studied manufacturing companies. Fixed effects panel regression analysis was used to test the hypotheses. The dependent variable sustainability reporting was measured using an Economic, Social, and Governance (ESG) index, the independent variables were board member nationality, proportion of women directors, proportion of non-executive directors, and multiple directorships. The results show no significant positive influence of board member nationality, while proportion of women directors, proportion of non-executive directors, and multiple directorships were significant. The study recommends among others, the adoption of NSE Sustainability Disclosure Guidelines for a unified integrated reporting framework for Nigerian firms, secondly, a heterogeneous board composition, which can leverage on the diverse set of skills of board members.
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Nwokoma, NI. "Incentives in Nigeria's food manufacturing industries and their impact on output and prices." South African Journal of Economic and Management Sciences 7, no. 3 (April 8, 2004): 553–69. http://dx.doi.org/10.4102/sajems.v7i3.1365.
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Since the inception of the Nigerian government economic reform programme in 1986, various incentives have been granted to the manufacturing sector, as a means of lifting the sector from the constant low level of performance and contribution to GDP. This paper sets out to find out how these various government incentives have impacted on manufacturing output – with specific focus on the food sub sector. By studying the operating profile of selected food-manufacturing companies, using the Pearson correlation analysis with relevant output, employment and price index variables, it was found that the benefits of these incentives appear not to have been passed on to the general public. It is thus recommended that bench-mark performance expectations be set for manufacturers as a pre-condition for granting incentives in subsequent dispensations.
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Bamidele, Ayodeji Gbenga, Issa Abdulraheem, and Aminu Nassir Brimah. "Analysis of Market Innovation and Organisational Performance in Nigerian Food and Beverage Manufacturing Sector." Advances in Multidisciplinary & Scientific Research Journal Publication 5, no. 1 (February 12, 2019): 23–32. http://dx.doi.org/10.22624/aims/v5n1p3.
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