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1
Mohammed, Dauda, J. Udoma Afangideh, and Oloruntoba S. Ogundele. "Oil Price and Exchange Rate Nexus-Evidence From Nigeria." International Journal of Accounting and Financial Reporting 9, no. 1 (January 3, 2019): 298. http://dx.doi.org/10.5296/ijafr.v9i1.14386.
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Price swings at international crude oil market significantly impact on macroeconomic fundamentals of oil dependent countries. Hence, understanding the relationship between oil price movement and the exchange rate has become imperative especially for oil exporting countries. This paper examines the causal effect between oil prices and Nigerian naira–US dollar exchange rate using frequency daily data for the period 12/07/2010-31/08/2017. Generalized autoregressive conditional heteroskedasticity (GARCH) and exponential GARCH (EGARCH) models were used to estimate our oil prices and nominal naira exchange rate equation. Our findings reveal a positive relation between oil price and naira exchange rate meaning that an upward movement in the price of oil causes the naira to depreciate. Conversely, any fall in oil price leads to appreciation in the value of the naira. The result has important policy implication given that 90% of the total annual foreign revenue of Nigeria comes from oil thus oil price shocks have severe impact on the Nigerian economy. This justifies the need for Nigeria’s economic diversification to minimize the vulnerability of the Nigerian economy to vagaries of the international crude oil market and to delink the exchange rate and reserve movement from developments in oil prices.
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Kabari, Ledisi Giok, Marcus B. Chigoziri, and Joseph Eneotu. "Machine Learning Algorithmic Study of the Naira Exchange Rate." European Journal of Engineering Research and Science 5, no. 2 (February 17, 2020): 183–86. http://dx.doi.org/10.24018/ejers.2020.5.2.1739.
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In this study, we discuss various machine learning algorithms and architectures suitable for the Nigerian Naira exchange rate forecast. Our analyses were focused on the exchange rates of the British Pounds, US Dollars and the Euro against the Naira. The exchange rate data was sourced from the Central Bank of Nigeria. The performances of the algorithms were evaluated using Mean Squared Error, Root Mean Squared Error, Mean Absolute Error and the coefficient of determination (R-Squared score). Finally, we compared the performances of these algorithms in forecasting the exchange rates.
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Ibrahim, Bello A., Musa Talba Jibrin, Daud Mustafa, and Abubakar Jamilu Baita. "Need for Managing own Exposure to Foreign Exchange Risk: Empirical Evidence from the Nigerian Economy." Review of Economics and Development Studies 3, no. 2 (June 30, 2017): 91–100. http://dx.doi.org/10.26710/reads.v3i2.168.
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Purpose: The Nigerian national currency (the Naira) has suffered series of exchange rate fluctuation on numerous occasions in the last two years. As a result, the value of the currency has changed significantly and rapidly many times, impacting on both visible and invisible trade. It is common today to hear importers, exporters and even consumers complaining about the adverse consequences of these trends which manifested in form of general rise in prices of goods and services. Studies have shown that many Nigerian foreign traders, particularly those in the small and medium sector, either lack the basic knowledge on how to manage foreign exchange risk or are skeptical about its efficacy. This is surprising considering how costly, in terms of cash flow and profitability, unfavorable changes in the value of the Naira can be. In response to this gap, this paper utilized secondary data on Naira/Dollar exchange rate spanning over 18 months period (January 2015 to June 2016), to provide an empirical understanding of the intricacies of Naira/Dollar exchange rate and how the resultant trends can affect domestic users of foreign exchange in Nigeria and hence the need to privately manage same. The paper thus introduces the subject matter of foreign exchange risk, its determination/calculation using facts and figures and its management to both the public and private business sectors in Nigeria. The empirical results clearly established why it makes sense for stakeholders to reduce exposure to currency risk. The paper also highlighted some of the common techniques and instruments that can be used to mitigate this risk.
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Daggash, Jibrin, and Terfa W. Abraham. "Effect of Exchange Rate Returns on Equity Prices: Evidence from South Africa and Nigeria." International Journal of Economics and Finance 9, no. 11 (October 7, 2017): 35. http://dx.doi.org/10.5539/ijef.v9n11p35.
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This paper examines the exchange rate returns of the Rand (relative to the US dollar) and the Naira (relative to the US dollar) for the presence of volatility. It also examines the effect of the exchange rate returns on the performance of their respective stock market. While it was found that the returns of the South African Rand was volatile, the Nigerian naira was not. Estimating the effect of exchange rate returns and crude oil price on the stock market indices of both countries showed that exchange rate return have a positive effect on the performance of the Nigerian stock exchange thus, confirming the stock flow hypothesis for Nigeria and refuting same for South Africa. Although the VAR granger causality identifies short run fluctuation of the naira as a significant factor affecting the performance of the Nigerian stock exchange in the short run, the Johannesburg stock exchange was found to be mostly affected by short run changes in the Rand and the UK FTSE 100. The paper concludes that policies aimed at stabilizing exchange rate and encouraing more non-oil stocks to be quoted in the Nigerian stock exchange will important. For the Johanesburg stock exchange, raising the listing requirement for firms quoted in the UK FTSE 100 and also seeking listing or already listed in the JSE will be a plausible idea. For both countries, however, curtailing swings in their exchange rate returns would help attract new investments and sustain existing ones hence, helping to spur growth.
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Abdulkareem, Ibraheem Alani, Mohd Sadad Mahmud, AbdulFattah AbdulGaniyy, and Olanrewaju Atanda Aliu. "Establishment of Waqf to Alleviate Poverty Among Muslims in Oyo State South-West, Nigeria: Test of Theory of Planned Behaviour." Li Falah: Jurnal Studi Ekonomi dan Bisnis Islam 5, no. 2 (December 29, 2020): 1. http://dx.doi.org/10.31332/lifalah.v5i2.2253.
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Poverty is on the increase in Africa in general and specifically in Nigeria despite the numerous poverty alleviation programs of successive governments. Lamentably, most poverty alleviation initiatives have failed to produce meaningful outcomes despite billions of Naira committed to them. Nigerians and Nigeria still ranked among the poorest, with the poverty rate rising since the 1980s. Base on the theory of planned behavior, this study examines the influences of attitude, subjective norm, perceived behavioral control, Religiosity, and available information on the intention to establish Waqf in Oyo state, southwestern Nigeria. Survey data from 218 Islamic scholars revealed that all the variables, as mentioned earlier, except available data, have a significant positive influence on the intention to establish Waqf according to the respondents. Based on the results, the study made relevant policy recommendations regarding how authority can explore Waqf's institution as a formidable alternative to government-driven poverty alleviation programs in the interest of the Nigerian Muslims and the Nigerian Muslims, the larger population cutting across different religions.
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George, Ukpong Iniodu, and Joshua Esther Ifenyinwa. "CURRENCY NOTES AND ASSOCIATED RISK OF NEGLECTED TROPICAL DISEASES: STUDY ON THE NIGERIAN NAIRA." International Journal of Research -GRANTHAALAYAH 7, no. 12 (June 9, 2020): 252–58. http://dx.doi.org/10.29121/granthaalayah.v7.i12.2019.319.
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Currency notes could play a role in the transmission of faeco-oral pathogens. This study aimed at identifying the possible role of the Nigerian Naira in the transmission of some neglected tropical diseases (NTDs) and the implication on their intervention and control in Nigeria. Method: 250 samples of all denominations of mint, dirty and mutilated Naira notes were examined for presence of parasites using the rinse method. Result: 58.4% of notes were contaminated with 161 cysts and ova of a protozoan (45.3%) and helminths (54.7%): Entamoeba histolytica cysts (43.7%), Enterobius vermicularis ova (5.4%), Ascaris lumbricoides ova (34.7%) and Hookworm ova (12.6%). Parasite contamination was independent of currency denomination (X2 =45.4; P=0.05). Mutilated notes harboured more parasites (51.5%) than dirty notes (44.9%). Mint notes had zero contamination. This was statistically significant (X2 =5.6; P<0.05). Polymer notes were more contaminated (51.37%) than paper notes. This study has identified a public health risk and the potential role of the Naira notes in the epidemiology of some NTDs in the study area. Public education on the health implications of the abuse of the Naira, beyond reasons of patriotism is required now. The Central Bank should ensure quick withdrawal of mutilated notes from circulation.
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Walker, Ezekiel Ayodele. "Structural change, the oil boom and the cocoa economy of southwestern Nigeria, 1973–1980s." Journal of Modern African Studies 38, no. 1 (March 2000): 71–87. http://dx.doi.org/10.1017/s0022278x99003250.
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The oil boom that lasted from the early 1970s until about 1983 spawned a phenomenal expansion of the Nigerian economy. Within a few years, oil revenues rose from 1·4 billion naira in 1973 to 12·86 billion naira by 1980. The oil boom led to the assigning of substantial sums of money to the cocoa industry of southwestern Nigeria. In spite of these investments, the cocoa industry stagnated during the oil boom years. Using oral interviews and archival documents, this paper examines structural change in the cocoa industry before the oil boom, and analyses the failure of government rehabilitation programmes during the oil boom years.
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Ayodeji, Idowu Oluwasayo. "A Three-State Markov-Modulated Switching Model for Exchange Rates." Journal of Applied Mathematics 2016 (2016): 1–9. http://dx.doi.org/10.1155/2016/5061749.
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Several authors have examined the long swings hypothesis in exchange rates using a two-state Markov switching model. This study developed a model to investigate long swings hypothesis in currencies which may exhibit ak-state(k≥2)pattern. The proposed model was then applied to euros, British pounds, Japanese yen, and Nigerian naira. Specification measures such as AIC, BIC, and HIC favoured a three-state pattern in Nigerian naira but a two-state one in the other three currencies. For the period January 2004 to May 2016, empirical results suggested the presence of asymmetric swings in naira and yen and long swings in euros and pounds. In addition, taking0.5as the benchmark for smoothing probabilities, choice models provided a clear reading of the cycle in a manner that is consistent with the realities of the movements in corresponding exchange rate series.
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., E. U. Umeh, J. U. Juluku ., and T. Ichor . "Microbial Contamination of ‘Naira’ (Nigerian Currency) Notes in Circulation." Research Journal of Environmental Sciences 1, no. 6 (June 1, 2007): 336–39. http://dx.doi.org/10.3923/rjes.2007.336.339.
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Heap, Simon. "The Nigerian National Archives, Kaduna: An Introduction for Users and a Summary of Holdings." History in Africa 20 (1993): 395–407. http://dx.doi.org/10.2307/3171986.
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The archives for Northern Nigeria, including not only the area north of the Niger and Benue rivers but also present-day Kwara, Kogi, and Benue states, is located at 29 Yakubu Gowon Way, Kaduna, in the heart of the busy central commercial and administrative district of the town. The Kaduna branch of the Nigerian National Archives has a large, comprehensive and unique collection of official papers of the British colonial and Nigerian independence periods; papers of native and local authorities; and newspapers, magazines, and other publications, as well as Arabic manuscripts. The archives is open on weekdays only. From Monday to Thursday its hours are 8:30 to 2:30, while on Friday there is a shortened day: 8:30 to 12:30.No documents will be produced from the repository within one hour before closing time. In 1991 240 visitors made some 800 visits to the Kaduna archives. On each visit, the visitors' book must be signed; signing out at the end of the day is also obligatory. Use of the archives requires the purchase of a searcher's registration card costing 10 naira ($1.00 or 50 pence) for students, 25 naira for others. The card is valid for the other National Archives branches at Ibadan and Enugu and lasts for that calendar year. Renewals are carried out in subsequent years. Photocopying facilities are available, give excellent reproduction, and are cheap—50 kobo (5c/3p) per exposure for students, one naira for other researchers.
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Ndubuisi, Oha, Ijeoma Iheukwumere, Ekeleme Uzochukwu G, Elijah Akachukwu Otutu, and Ajunwa Kelechi Victor. "Evaluation of Micro-Pathogens Associated with Nigerian Currency (Naira Notes)." World Scientific Research 3, no. 1 (March 1, 2016): 16–22. http://dx.doi.org/10.20448/journal.510/2016.3.1/510.1.16.22.
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Amakor, Ifeoma Chinelo, and Onyinye Eneh. "A Comparative Analysis of Adjustment of Nigerian Selected Macro Economic Variables to Deregulated Exchange Rate System." Journal of Public Management Research 5, no. 1 (June 27, 2019): 1. http://dx.doi.org/10.5296/jpmr.v5i1.14984.
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This study is a comparative analysis of how Nigerian macro economic variables of Balance of Payment and Real Sector performance (surrogated by Real Gross Domestic Product) reacted to exchange rate deregulation in Nigeria. One of the reasons why countries deregulate their exchange rate is to avail themselves the benefits of international trade, and the international trade transaction of every nation is depicted in its balance of payment position. In order to ascertain the significance of Naira deregulated exchange rate on the selected variables, a pre and post deregulation analyses were carried out using Paired Sample T Test staring from 1960 to 1985 as pre deregulation period and 1986 to 2011 as post deregulation period. The result revealed that both Balance of Payment and Real Sector Performance reacted significantly to exchange rate deregulation. While the influence of deregulation of exchange rate on Balance of Payment was negative, it showed a positive influence on Real Sector performance. The researchers concluded that deregulation of exchange rate did not increase the Nigerian general export, but oil export only, which is also an indication that Nigerian domestic industries did not contribute significantly to the country’s export level. We recommend that the monetary authority can consider placing a crawling peg on Naira exchange rate level in order to regulate the level of currency depreciation; this will reduce the cost of production for the domestic industries as most of their raw materials are imported. Again the export ability of the Nigerian domestic industries can be enhanced by granting them export incentives such as free international packaging and external credit guarantee.
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Emenike, Kalu Onwukwe. "Exchange rate volatility in West African countries: is there a shred of Spillover?" International Journal of Emerging Markets 13, no. 6 (November 29, 2018): 1457–74. http://dx.doi.org/10.1108/ijoem-08-2017-0312.
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Purpose The purpose of this paper is to evaluate selected West African currencies/US dollar exchange rates for the evidence of volatility spillover. Specifically, the paper examines West African CFA franc, Gambian dalasi and Nigerian naira exchange rates in relation to the USD, for any evidence of shock and volatility spillover. Design/methodology/approach The author employs multivariate GARCH (1,1)–BEKK model which enables the evaluation of the interaction within the volatility of two or more series because of its capability to detect volatility spillover among time series observations, as well as the persistence of volatility within each series. Findings The major findings of this study are as follows: there is evidence of volatility clustering in West African CFA franc, Gambian dalasi and Nigerian naira exchange rates in relation to the USD. There is evidence of bi-directional shock and volatility spillover between the Nigerian naira and West African CFA franc/USD exchange rates, and uni-directional shock spillover from the Gambian dalasi to the West African CFA franc/USD exchange rates. There is, however, no evidence of exchange rate shock and volatility spillover between Nigerian naira and Gambian dalasi. Originality/value Although considerable literature exists on the volatility of exchange rate in West Africa and comparative analysis of exchange rates volatility in few countries of West Africa, there is absence of empirical studies on exchange rate volatility spillover among countries in the region. Since containing exchange rate volatility is one of the major objectives of monetary policy, understanding the nature and direction of exchange rate volatility spillover would propel formulation exchange rate policies that would minimise exchange rate uncertainty and entrench sustainable development. In addition, the nature of exchange rate volatility spillover between West African countries would provide basis for international traders and foreign portfolio investors to develop effective strategies for hedging against exchange rate shocks that are propagated across countries by designing appropriate risk management techniques.
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Kabari, Ledisi Giok, and Believe B. Nwamae. "Stochastic Analysis of the Exchange Rate of Naira, YEN, GBP, CFA and FRANC in Relation to US Dollar and Predicting the Naira for the Year 2025." European Journal of Engineering Research and Science 4, no. 6 (June 12, 2019): 15–18. http://dx.doi.org/10.24018/ejers.2019.4.6.1353.
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In Nigeria today, constant fluctuations of exchange rate or volatility is of great importance in one way or the other to the general public because its fluctuation has an effect on the economy. The objectives of the paper were to investigate the recent changes in the naira currency and other world currencies if there appear to be any relationship. Data was obtained from daily exchange rate of different countries’ currencies from 12/10/2005 and 2/11/2018 with 3,190 observations obtainable from the Data and statistics publication of the Central Bank of Nigeria. The study investigates the past recent changes in the naira and four foreign currencies of the world (Pounds, Yen, Cfa and Swiss Franc) and their relationship plotted as signal using MATLAB 2016a. The four currencies were randomly selected from the list of world currencies. Multiple Linear Regression was used to perform the analysis. The analysis of 3,190 observation resulted in a prediction model that has 97% prediction accuracy, which suggests that under ideal circumstances and baring any natural disaster, total collapse of the economy or major crisis like recession. The results from the model of this study suggest that fluctuation in currency exchange rate of other currencies has significance on the Nigerian exchange rate and as such should be considered when designing exchange rate policies.
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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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Udeaja, Elias A. "Measuring Dynamic Return and Volatility Connectedness among Nigerian Financial Markets." Central Bank of Nigeria Journal of Applied Statistics, Vol. 10 No. 2 (February 21, 2020): 169–91. http://dx.doi.org/10.33429/cjas.10219.6/6.
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This study employs the connectedness measure of Diebold and Yilmaz (2012, 2014) to examine the intensity of connectedness among the Nigerian financial markets for the period January 2000 to December 2018. The study used all shares index, Treasury bill rate and Naira/USD official exchange rate to measure stock market, money market and exchange rate market, respectively. The study found connectedness among the Nigerian financial markets to be highly time-varying and appear to be higher during the period of high depreciation of the naira which coincides with the period of falling oil prices and domestic economic meltdown of 2014 and 2016, respectively. This shows that, relative to external shocks, connectedness among financial markets is likely to get amplified during the time of domestic turbulence. The paper, therefore recommends that policymakers should look inward whenever policy discuss revolves around the increasing integration of financial markets to save the economy from aggravation of contagion.
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Adebowale, Edward Adedoyin, and Akindele Iyiola Akosile. "Interest Rate, Foreign Exchange Rate, and Stock Market Development in Nigeria." Binus Business Review 9, no. 3 (December 1, 2018): 247–53. http://dx.doi.org/10.21512/bbr.v9i3.4941.
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This research investigated the effect of interest rate and foreign exchange rate on stock market development in Nigeria. This research was centered on two research problems. First, it was whether interest rate had a significant effect on stock market development in Nigeria. Second, it was whether foreign exchange rate had a significant impact on stock market development in Nigeria. The scope of the research covered the period from 1981 to 2017. Data for this period were chosen because it covered pre and post-liberalization periods of Nigerian financial system. This research made use of ex post facto research design. Secondary data were sourced from Nigerian Stock Exchange reports, Central Bank of Nigeria statistical bulletins, and National Bureau of Statistics publications. Data were collected on Stock Market Capitalization (SMC), Prime Lending Rate (PLR) and Real Exchange Rate (RER) (Nigerian Naira in relation to American Dollars of the United States). Data analysis was carried out with Ordinary Least Squares (OLS) and Cochrane-Orcutt Iterative techniques. The findings reveal that interest rate has a significant negative effect, and foreign exchange rate has a significant positive effect on Nigerian stock market development during the period covered. It is suggested that monetary authorities should strive to formulate policies that will make interest and foreign exchange rates stable, competitive, and at a level that will stimulate the investment of funds in the stock market.
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Ogbulu, Onyemachi Maxwell. "Oil Price Volatility, Exchange Rate Movements and Stock Market Reaction: The Nigerian Experience (1985-2017)." American Finance & Banking Review 3, no. 1 (November 12, 2018): 12–25. http://dx.doi.org/10.46281/amfbr.v3i1.200.
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Given the observed volatility in crude oil prices in the international oil market and the role which oil and gas play in the Nigerian economy, this paper is an attempt to investigate the impact of crude oil prices and foreign exchange rate movements on stock market prices in Nigeria. In addition, the paper examined whether there is any volatility pass-through between the dollar price of Nigerian crude oil, foreign exchange rate of the Naira and stock market prices respectively. Data employed for the study are monthly values of the Nigerian Stock Exchange (NSE) All-Share Index (ASI), Dollar price of Nigerian Crude Oil (DPO) and the Official Exchange Rate of the Naira to the US Dollar (FXR) from January, 1985 to August, 2017. The methodology adopted for the study include the ADF unit root tests, Johansen co-integration tests, the ECM technique, Granger causality tests, variance decomposition as well as the GARCH(1,1) to model the volatility relationships among the variables. Findings reveal that there is one long-run dynamic co-integrating relationship among the variables ASI, DPO and FXR while the ECM results indicate that Crude oil price (DPO) significantly impact on Stock market prices. The Granger causality test reports a bi-directional causality relationship between ASI and DPO and a unidirectional causality running from FXR to ASI. The ARCH-GARCH volatility analysis demonstrates vividly that stock market prices in the NSE exhibit ARCH effect with a significant and positive first order ARCH term. The GARCH term is also positive and significant indicating that previous month’s stock market price volatility significantly influences current stock market volatility in the NSE. In addition, findings show that the volatility of dollar price of Nigerian oil (DPO) in the world oil market is significantly transmitted to the volatility of stock market prices in Nigeria. The pass-through effect of the volatility of exchange rate (FXR) to the volatility of stock market prices is also positive and significant. These findings offer significant informational signal to policy makers, portfolio managers/advisors and the investing public in achieving optimal asset and portfolio profile.
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Suleiman, Toyin G., Jude U. Ohaeri, Rahman A. Lawal, Adam Y. Haruna, and O. B. Orija. "Financial cost of treating out-patients with schizophrenia in Nigeria." British Journal of Psychiatry 171, no. 4 (October 1997): 364–68. http://dx.doi.org/10.1192/bjp.171.4.364.
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BackgroundAn assessment of the monetary costs of treating a group of Nigerian out-patients with schizophrenia, in comparison with insulin-dependent diabetics, was made.MethodFifty out-patients with schizophrenia (mean age 42.9) and 40 with diabetes (mean age 41.9), attending government hospitals in Lagos, were assessed at six-monthly intervals, for direct and indirect costs (US$=82 naira; minimum monthly wage=500 naira)ResultsTwenty (40%) of those with schizophrenia and eight (20%) of the diabetics had no income at all. The mean total cost of schizophrenia in six months (2951.4 naira) or US$ 35.9) was significantly less than that of diabetes (11 791 naira or US$ 143). The cost of antipsychotic drugs accounts for 52.8% of the cost of schizophrenia; insulin injections accounted for 92.8% of the total cost of diabetes. Patients with schizophrenia and their relatives suffered significantly more loss of working days. Cost of illness was not significantly correlated with age and duration of illness.ConclusionsBecause of drastic currency devaluation, and lack of disability benefits and nursing homes, the findings contrast with Western reports where cost of drugs constitutes 2–5%, and indirect costs constitute over 50% of the total cost of schizophrenia.
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Ohajianya, Anthony Chibuike. "Estimated billing system is the bane of grid electric power supply and development in Nigeria: An empirical analysis." Journal of Advances in Science and Engineering 5, no. 1 (July 31, 2021): 1–10. http://dx.doi.org/10.37121/jase.v5i1.157.
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The estimated billing system for electricity was introduced in Nigeria by the Nigerian Electricity Regulatory Commission (NERC) in 2012 for billing customers without meters or with faulty or inaccessible meters. But instead of following the guidelines and formula provided by NERC for the estimation, the electricity Distribution Companies (DisCos) resorted to billing these customers arbitrarily and frustrated efforts by NERC to ensure the proper metering of electricity consumers. This research evaluates the incentive, which makes the DisCos in Nigeria prefer the estimating billing system to a much more efficient smart prepaid metering system. To carry out the research, four Enugu Electricity Distribution Company (EEDC) customers were selected. The estimated bills of these customers, which they received before they got smart prepaid meters, were compared with their prepaid meter bills for an equal period. EEDC was found to be over-billing these customers under the estimated billing system by a yearly average per customer of 64,901.67 Nigerian Naira (170.79 USD).
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Okoro, Rev Canon Charles Ugochukwu, and Fortune Bella Charles. "Naira Exchange Rate Variation and Nigeria Economic Growth: A Time Series Study." American Economic & Social Review 5, no. 2 (July 23, 2019): 21–31. http://dx.doi.org/10.46281/aesr.v5i2.360.
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This study examined the effect of exchange rate variation on Nigeria economy. The objective was to investigate how Naira exchange rate variations against key currencies affect the country’s real gross domestic product. Time series data was sourced from Central Bank of Nigeria statistical bulletin. Real gross domestic products were modeled as the function of United State commodity currency, British commodity currency, Japanese yen currency, Chinese yen currency and French franc currency. The ordinary least square method was used as data analysis techniques. The study used cointegration, unit root, and granger causality test and error correction estimate to study the dynamic effects of commodity currencies on financial market. The study found that naira exchange rate variation with the currencies can explain 65 percent variation on Nigerian real gross domestic products while the remaining 35 percent estimation can be traced to external variables not included in the model. The estimated f-test proved that the model is fit while the estimated DW statistics found the presence of positive serial autocorrelation among the variables. The estimated beta coefficient of the variables revealed that commodity currency of US; Japanese yen and Chinese yen have positive and significant effect on Nigeria real gross domestic products while British pound and French Franc have negative effect on Nigeria real gross domestic products. From the co-integration test, we found at least two co-integrating equation from the trace test and maximum eigenvalue. The granger causality test found unidirectional causality from real gross domestic products to Chinese yen and from French Franc to real gross domestic products. The study found that in the long run, Japanese and Chinese yen and French Franc have negative long run effect on Nigeria real gross domestic products; while United States dollar and British Pound Sterling have positive long run effect on Nigeria gross domestic products. The study recommended amongst others that Monetary and macroeconomic policies should be properly articulated with an impregnable feedback loop, implemented to the letter, and a quarterly examination of the impact on the Naira should be regularly engaged, evaluated, interpreted and ensure that the results and possible remedial action(s) get to the appropriate authority timeously so as to ensure well informed decision(s).
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O., Olagbaju Ifeolu, and Akinbobola Temidayo O. "A Non-Linear Analysis of the Oil Price-Exchange Rate Nexus in Nigeria." Journal of Economics and Behavioral Studies 8, no. 4(J) (September 5, 2016): 79–91. http://dx.doi.org/10.22610/jebs.v8i4(j).1365.
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This paper studies the effect of oil price shocks on the Nigerian exchange rate on the basis of monthly data over the period January, 2008 to October, 2015. In order to explore the effects of oil prices on the competitiveness of the Nigerian currency, which had hitherto attracted little attention in literature, the paper adopts the real effective exchange rate measure within a five-variable VAR model, analysed using both linear and non-linear approaches. We find evidence of a non-linear impact of oil prices on real effective exchange rate. Specifically, decreases in oil price are found to have an appreciating impact on real effective exchange rate, implying a loss of competitiveness of the Naira, while increases in oil price are found to be irrelevant for movements in the real effective exchange rate. Our study also suggests a link between Naira depreciation and the real effective exchange rate appreciation through a pass-through effect on rising domestic prices.
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Renne, Elisha P. "United Nigerian Textiles Limited and Chinese–Nigerian textile-manufacturing collaboration in Kaduna." Africa 89, no. 4 (November 2019): 696–717. http://dx.doi.org/10.1017/s000197201900086x.
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AbstractIn 1964, the newly established Hong Kong-based Cha Group partnered with the Northern Nigerian Regional Development Corporation to open the United Nigerian Textiles Limited (UNTL) mill in Kaduna – the largest textile mill in Northern Nigeria. The Cha Group later expanded, building textile mills in other parts of the country. Both Chinese and Nigerian managers and workers were involved in UNTL mills, which by 1980 provided printed cotton textiles for the Nigerian market and for other markets in West Africa. Yet this Chinese–Nigeria collaboration could not overcome factors external to the textile-manufacturing industry. Declining infrastructure, erratic electricity, frequent changes in political leadership at the federal level, and the smuggling of less-costly imported textiles (often from China) undermined local textile manufacturing, while inflationary pressures associated with the national oil industry undermined agricultural production, exacerbating the difficulties of obtaining raw Nigerian cotton. In 2007, the UNTL mill in Kaduna closed, although it resumed production in December 2010, assisted by the 100 billion naira Cotton, Textile and Garment Development Fund. Cha Group officials also used their knowledge of the Nigerian textile market as the basis for the marketing of branded, high-quality manufactured textiles, known as Da Viva®, at company-franchised shops in major Nigerian cities. The Cha Group took advantage of digital innovation, both in the printing of these popular textiles and also by advertising them on an attractive website. This article considers the ways in which the United Nigerian Textiles Plc company has maintained production of grey cloth and printed textiles at its mills in Kaduna and Ikorodu-Lagos, along with the marketing of Da Viva® cotton prints, which suggests the continuing, if contradictory, possibilities for this Nigerian–Chinese textile-manufacturing collaboration.
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Nakorji, Musa, Ngozi T. I. Agboegbulem, Blessing A. Gaiya, and Ngozi V. Atoi. "Purchasing Power Parity Approach to Exchange Rate Misalignment in Nigeria." Central Bank of Nigeria Journal of Applied Statistics 12, No. 1 (August 16, 2021): 45–75. http://dx.doi.org/10.33429/cjas.12121.3/6.
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This study examines the purchasing power parity (PPP) approach to the determination of exchange rate misalignment in Nigeria by using two variants of the PPP: the absolute PPP (aPPP) and the relative PPP (rPPP). Data on the Nigerian Naira to US Dollar ( N/$), British Pound ( N/£) and Chinese Yuan (N /¥) interbank exchange rates, Nigeria consumer price index and Inflation as well as the US, UK and China consumer price indices and inflation rates spanning 2008:M1 to 2018:M12 were utilized. A recently modified fractional cointegration framework was employed, taking care of smooth structural breaks and nonlinearity, while the unit root tests employed the fractional alternatives. The results confirmed that the aPPP approach to exchange rate determination is unrealistic but revealed empirical support for the rPPP approach. Furthermore, the exchange rates computed with the rPPP approach show that the interbank Naira to US Dollar, UK Pounds and Chinese Yuan exchange rates were overvalued in most of the period of this study. The period of undervaluation observed in June 2016 and April 2017 coincided with the periods when CBN introduced the investors and exporters window. The study recommends the use of rPPP for gauging the level of exchange rate misalignment in Nigeria and suggests the need to diversify the export base to appreciate the exchange rate.
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Etuk, Ette. "Modelling of Daily Nigerian Naira - British Pound Exchange Rates Using SARIMA Methods." British Journal of Applied Science & Technology 4, no. 1 (January 10, 2014): 222–34. http://dx.doi.org/10.9734/bjast/2014/5535.
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Usman, M., J. Sani, A. Ibrahim, and A. Olowo-okere. "Microbial contamination of Naira notes circulating in Bauchi metropolis: prevalence, microbial load and detection of extended spectrum beta-lactamase producing Gram-negative bacteria." African Journal of Clinical and Experimental Microbiology 22, no. 2 (April 8, 2021): 244–51. http://dx.doi.org/10.4314/ajcem.v22i2.17.
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Background: Globally, contamination of banknotes with various microbial species is increasingly being reported. This usually results from improper handling during exchange of goods and services. In the present study, we aimed to determine the microbial load, prevalence and the presence of Extended Spectrum Beta Lactamase (ESBL) among bacteria isolated from the Nigerian Naira notes circulating in Bauchi metropolis.Methodology: A total of 400 Naira notes of various denominations were randomly collected aseptically, cultured and total viable counts determined. The isolated microbial species were identified using standard microbiological techniques. Antibiotic susceptibility of the isolates and detection of ESBL were determined by Kirby-Bauer’s disc diffusion method and Double Disc Synergy Test (DDST), respectively.Results: All the 400 samples collected were contaminated with various microbial species. The highest mean colony count was detected in 20 Naira notes (28.5%), while the least was observed in 1000 Naira note (3.3%). Fourteen different microbial species were isolated from the contaminated currency notes, predominantly Escherichia coli (25.0%), and Staphylococcus aureus (12.0%). Some fungal species mainly Aspergillus flavus and Aspergillus niger were also isolated. Majority of the bacteria isolates resistant to the third generation cephalosporins (72.1%) were ESBL positive.Conclusion: The study shows that Naira notes circulating in Bauchi metropolis were heavily contaminated with various microbial species, and a high proportion of the isolated Gram-negative bacteria were ESBL producers. Efforts should thus be made to improve hygiene practices in the study area. Importantly, businesses should be encouraged to adopt the use of electronic transactions.
Keywords: Currency notes, Naira, Microbial contamination, ESBL
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Na'inna, Zainab S. "Bacteriological Quality Assessment of Nigerian Naira Notes in Circulation at Aminu Kano Teaching Hospital, Kano State, Nigeria." UMYU Journal of Microbiology Research (UJMR) 5, no. 2 (December 30, 2020): 148–53. http://dx.doi.org/10.47430/ujmr.2052.020.
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Contamination of currency notes by pathogenic microorganism is a public health concern. An improved understanding of the bacteriological quality of currencies would help us better understand the role of money as a medium of transmitting infections. This study investigates the bacteriological quality of Nigerian currencies circulating in Aminu Kano Teaching Hospital (AKTH) in Kano metropolis. A total of 128 Naira note samples containing 16 pieces of each denomination of 5, 10, 20, 50, 100, 200, 500 and 1000 were aseptically collected from different cash units of the hospital and subjected to standard microbiological methods for the enumeration and isolation of bacteria. The susceptibility of the bacterial isolates to antibiotics was investigated using disk diffusion method. The mean aerobic mesophilic bacterial count of the currency notes range between 3.10 x104 cfu/mlto 5.25 x104 cfu/ml. Different bacterial species were isolated which include E. coli, Klebsiella spp, Staphylococcus aureus and Coagulase negative Staphylococci, with S. aureus having the highest frequency of occurrence of 37 (46.2 %). Findings of antibacterial susceptibility test indicated that100% of the isolated Gram negative bacteria were susceptible to Meropenem, followed by susceptibility to Gentamycin and Ciprofloxacin. However, the isolates were found to be highly resistant to Augmentin (55%) and Cefuroxime (32%). On other hand, the Gram positive bacterial isolates were highly susceptible to Erythromycin (84%), Gentamycin(83%), Clindamycin (79%),and Oxicillin (78%) while few of the isolate showed resistance to Penicillin(24%), Oxacillin (22%), and Clindamycin, (16%). The study reveals that currency notes in circulation at AKTH may serve as vehicles for the spread of disease causing organisms. Cashless transactions and use of hand sanitizers is therefore recommended to reduce the risk of infection. Key words: Naira notes, Contamination, Hospital environment
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Akanbi, Sa’ad Babatunde, Halimah Adedayo Alagbe, Hammed Agboola Yusuf, and Musibau Hammed Oluwaseyi. "Exchange rate volatility and non-oil exports in Nigeria: An empirical investigation." Journal of Emerging Economies and Islamic Research 5, no. 2 (May 31, 2017): 5. http://dx.doi.org/10.24191/jeeir.v5i2.8800.
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The adoption of a flexible exchange rate system since 1986 in Nigeria has made the country witnessed varying rate of the naira vis-à-vis the U.S dollar. This paper examines exchange rate volatility with ARCH model and its various extensions (GARCH, TGARCH, and EGARCH) using quarterly exchange rate series from 1986-Q1 to 2014-Q4.The impact of exchange rate volatility on non-oil exports was also examined using Error Correction Model (ECM) with two different measures of volatility. The results obtained confirm the existence of exchange rate volatility and also found a significant negative effect on non-oil export performance in Nigeria. Therefore, the Nigerian government should ensure an appropriate policy mix that not only ensures a stable and realistic exchange rate but also conducive atmosphere for production and exportation.
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Etuk, Ette Harrison, Love Cherukei Nnoka, and Idorenyin Augustine Etukudo. "Arima Intervention Modelling of Daily West African Franc (XOF) – Nigerian Naira (NGN) Exchange Rates." International Journal of Advanced Research in Computer Science and Software Engineering 7, no. 5 (May 30, 2017): 363–67. http://dx.doi.org/10.23956/ijarcsse/v7i5/01503.
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Abdulkarim, Umar Farouk, L. Mohammed, and A. Musa-Mubi. "Lease Finance in Nigeria: Current Status, Challenges and Future Prospects." Journal of Accounting Research, Organization and Economics 3, no. 2 (September 30, 2020): 172–81. http://dx.doi.org/10.24815/jaroe.v3i2.17687.
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Objective – The Leasing industry in Nigeria is witnessing increased demand for assets under a given prevalence of rising domestic costs of purchase, shortage of foreign exchange for imports as well as persistent depreciation of the Naira. The objective of this paper is to analyze the current state of lease financing in Nigeria, the prospects and challenges with a view to assess the capacity of the industry to continue to provide this form of finance. Design/methodology –The paper adopts an exploratory research design with references to publications, websites and research articles relevant to the subject matter. A number of relevant publications on leasing in Nigeria were duly explored. Results – Our findings show that, the volume of lease finance has consistently grown over the last 14 years (2005-2018). Finance leases volume totaled 1.68 trillion naira in 2018 alone. Banks as market participants in the Nigerian lease industry finance other non-bank lessors while the non-bank lessors account for about 80% of lease transactions mostly to Micro, Small and Medium Scale Enterprises (MSMEs). Funding remains a major challenge restricting provision of leases to general supporting equipment and constraining leases of specialized assets (big-ticket leases). Prospects for lease finance obtain in terms of rising popularity of operating leases with lessors and lessees, attributable to the inherent mitigation against default risk. There is also potential for a growing customer base beyond MSMEs, with the influx of patronage by listed corporate firms especially those in the healthcare and education sectors. We identified financing partnerships, development of sound corporate governance practices, hastened inauguration of the Equipment Leasing Registration Authority and increased sensitization of potential leasehold product consumers on the benefits of lease finance, as critical success factors for the lease industry in Nigeria.
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Emwinloghosa Kenneth, Guobadia, Ibeakuzi Precious Onyedikachi, and Uadiale Kenneth Kevin. "Short Term Modeling of the Nigerian Naira/United States Dollar Exchange Rate Using ARIMA Model." Scholars Journal of Physics, Mathematics and Statistics 8, no. 1 (January 20, 2021): 8–13. http://dx.doi.org/10.36347/sjpms.2021.v08i01.002.
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Nnamani, A., N. Iloanusi, C. Okwuosa, A. Lasebikan, and I. Okoye. "Bridging the Funding Gap for Oncology Services in LMIC: The BWS Cancer Patient Treatment Intervention Fund Project." Journal of Global Oncology 4, Supplement 2 (October 1, 2018): 184s. http://dx.doi.org/10.1200/jgo.18.58200.
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Amount raised: #1,627,000 (Nigerian Naira) Background and context: With a large population and very limited resources, the economic burden of cancer in our country is enormous and cannot be tackled solely by the government. A high mortality rate among newly diagnosed patients is a direct result of poverty and lack of an effective health insurance coverage for cancer, among other reasons. Breast cancer accounts for two out of five women cancers, with a 70% mortality. Aim: To alleviate the financial burden of cancer treatment on indigent patients. Strategy/Tactics: We constituted the Cancer Patient Treatment Intervention Fund (CPTIF) board of partners and funders. We also inaugurated a fundraising event, the annual Go Pink Day Ball, and instituted crowd-funding schemes. Program process: Indigent patients diagnosed at BWS and designated health facilities are referred to CPTIF for financial support. The patient is reviewed for eligibility by the medical board. If approved by the CPTIF Board of Directors, the required funds are paid directly to the designated tertiary health facility where patient will be receiving the oncology services. Costs and returns: Between December 2017 and March 2018 a total of #1,627,000 (Nigerian Naira) was raised, a total of #750,950 has been spent on 7 patients at different levels of oncology services. The cost covered included laboratory tests, ultrasounds, biopsies chemotherapy and radiotherapy. What was learned: Financial assistance gave these patients a lifeline and zeal to go through the usually overwhelming cancer treatment process.
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Nwahia, Ogechi Cordelia. "ANALYSIS OF COST AND RETURNS IN RICE PRODUCTION BY USAID-MARKETS II PROJECT PARTICIPANTS AND NON-PARTICIPANTS IN EBONYI STATE, NIGERIA." Agricultural Social Economic Journal 21, no. 1 (January 31, 2021): 1–7. http://dx.doi.org/10.21776/ub.agrise.2021.021.1.1.
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This research work focused on analysis of cost and returns in rice production by USAID-MARKETS II project participants and non-participants in Ebonyi state, Nigeria. Multi-stage sampling procedure was employed to select 239 participants, and 252 non- participants for the study. Data were collected from primary source, and analyzed using Z statistic, Net Farm Income (NFI) and Returns Per Naira Invested (RNI). The result reveals that the Net Farm Income (NFI) obtained by USAID-MARKETS II project participants, and non-participants were N493, 067.55/ha, and N353, 408. 12/ha respectively while the return on investment obtained by them were N3.28k, and N3.05k respectively. There was a significant difference between the profits obtained by them. Therefore, this study recommended that the teaming unemployed Nigerian youth should be encourage by the government, and international agencies through provision of grant/loan to take up rice farming as a business.
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Bechan, Kajal, and Muhammad Ehsanul Hoque. "Influence of income growth on purchasing patterns of luxury cosmetic products among Nigerian customers." Public and Municipal Finance 5, no. 4 (December 26, 2016): 41–47. http://dx.doi.org/10.21511/pmf.05(4).2016.05.
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Rapid growth of incomes in Nigeria has resulted in increased consumer spending which allowed the emergence of the new market segments, including luxury cosmetic products. Emergence of middle class along with increasing disposable income, increasing urbanization, more females entering the workplace justifies the demand for luxury cosmetics. It is a dream of any women whatever the age group to look and feel beautiful and this is why the cosmetic industry is so large, as cosmetic consumptions by its customers are growing every day. The purpose of the study is to understand the purchasing patterns of the Nigerian consumer who were luxury cosmetic users who frequented the Estee Lauder companies stores in Nigeria. This was a cross-sectional study conducted among 100 consumers who were selected using systematic sampling techniques. A self-administered anonymous questionnaire was used to gather data from respondents. Results indicated that two thirds (66%) of the luxury cosmetic users were within the 18-35 age group. Most of the respondents in the study had a full time job and 31% of the respondents earned between 132,001 – 379,000 naira, which equates to $660 – $1897. Respondents revealed that their top three luxury cosmetic brands were MAC, Estee Lauder and Bobbie Brown. Consumers are aware of the benefits associated with luxury products, therefore, this market segment must be exploited, as it has untapped potential and opportunity. Keywords: cosmetics, luxury cosmetic market, purchasing patterns, Nigerian consumer. JEL Classification: D11, D12, L66
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Aminu, B. M., and H. S. Yahaya. "Antibiotic sensitivity pattern of bacteria isolated from Nigerian currencies (Naira) circulating in some hospitals of Kano metropolis, Kano state, Nigeria." Bayero Journal of Pure and Applied Sciences 11, no. 1 (February 7, 2019): 185. http://dx.doi.org/10.4314/bajopas.v11i1.30s.
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Chiluwa, Innocent. "Assessing the Nigerianness of SMS text-messages in English." English Today 24, no. 1 (February 22, 2008): 51–56. http://dx.doi.org/10.1017/s0266078408000102.
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ABSTRACTTo what extent does the distinctiveness of Nigerian English come through in text messages? In the history of the English language certain developments have left significant linguistic marks on the language. As new developments and cultural forms occur, new words and styles of expression evolve with them and spread. This is true of the new linguistic style that is associated with the Global System for Mobile Communications (GSM) revolution in Nigeria since 2001. GSM has brought with it a variety of English that is situationally distinctive and context. GSM came to Nigeria with the licensing of MTN and Econet (now Celtel) in 2001 during the Obasanjo administration, after many years of decaying telecommunication infrastructure. Within a short time after the introduction of mobile telecommunication, almost a million subscribers mainly in the cities made a rush at possessing mobile phones and were willing to pay any tariff. N50 (50 naira) were paid per minute per call as against N15 per text message. This was said to be the highest rate in Africa, causing many subscribers to opt for text-messaging as a cheaper alternative.
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Bicudo, Julio Felippe, and Nnanna P. Azu. "Effects of Bilateral Real Exchange Rate on Sino-Nigeria Trade: An ARDL Cointegration Approach." International Journal of Economics and Finance 10, no. 7 (June 14, 2018): 125. http://dx.doi.org/10.5539/ijef.v10n7p125.
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This research is motivated to scrutinise the effects of real bilateral exchange rate fluctuation on China-Nigeria bilateral trade, taking into consideration volatility and third country’s bilateral exchange rate effect to determine their consequences. Due to its robustness in time series analyses, an ARDL approach to co-integration was used to determine the long-and short-runs effects. Both export and import were considered separately. Outcome revealed that Nigeria’s import from China responds negatively to real bilateral exchange rate increase just as it does to its volatility. Her export to China reacts positively on both front, most especially in the short-run. Japan was integrated as a third country in this research due to her competing presence in Nigerian market. Third country’s real bilateral exchange rate play prominent but negative role in China-Nigeria trade, and is mostly effective in the long-run. With the absolute value of the co-efficient of real bilateral exchange rate greater than one, depreciating the Naira against the Renminbi will tend to ameliorate the negative balance of trade Nigeria has with China. Finally, democratic regime was found to be very essential in enhancing international business.
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Effiom, Lionel, Alfa Charles Achu, and Samuel Etim Edet. "Capital Flight and Domestic Investment in Nigeria: Evidence From ARDL Methodology." International Journal of Financial Research 11, no. 1 (October 10, 2019): 348. http://dx.doi.org/10.5430/ijfr.v11n1p348.
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Capital flight is a challenge for many developing countries of the world. The problem is more severe in a nation like Nigeria where domestic investment has been terribly affected. This study undertakes an empirical investigation of the impact of capital flight on domestic investment in Nigeria between 1980 and 2017. Deploying the Auto Regressive Distributed Lag (ARDL) econometric methodology, the study finds that capital flight has negative and significant impact on domestic investment. In particular, the long run impact of capital flight on domestic investment (0.57) turns out to be more severe than its impact in the short run (0.27), implying that a continuous and persistent build-up of capital flight exerts a negative cumulative effect on domestic investment over time. The study further reveals that the quality of institutions in Nigeria is a disincentive to domestic investment. It therefore recommends the strengthening of institutions to rein in on the illegal outflow of capital from the Nigerian economy in order to guarantee the availability of investible funds. The real sector of the local economy must be grown to bolster the value of the naira. This will stem the tide of capital flight and attract investments into critical sectors.
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Ushe, Ushe Mike. "Cultism and Violence in Nigerian Universities: A Paradigm for Achieving Religious Academic Excellence." International Journal of Culture and History 6, no. 2 (December 24, 2019): 102. http://dx.doi.org/10.5296/ijch.v6i2.16127.
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Nigerian universities and other institutions of higher learning have in recent times witnessed unprecedented insecurity, persistent violence and educational backdrop, leading to loss of many lives and properties worth millions of naira across the country. Part of the face out of this scourge is the prevailing case of cultism and other forms of violence in Nigerian universities and other higher educational institutions. This has resulted to gruesome arrest, expulsion and murder of many students on account of cult activities on the campuses and other forms of students’ violence which further exposed our universities to insecurity, ritual murders, drug abuse and use of dangerous weapons by cult groups, victimization and regime of terror against fellow students, lecturers, and anyone that stands in the ways of these cult groups on our campuses. This paper discusses the impacts of cultism and other forms of violence on university campuses in Nigeria as a search for achieving sustainable peace and academic excellence. To explore this change, the study employs survey design, questionnaires and face-to-face interviews in collecting data and analysis. The research findings have shown that cultism and other forms of violence are prevalence in Nigerian universities and have increased tremendously in recent decades, reoccurring almost on daily basis. The paper observed that students’ radical activism and union politics, incapability of university and state authorities to enforce minimum standard of students’ civil behaviors on campuses as well as rivalries between cult groups and the wider campus community has drastically affected educational or academic performance of students in contemporary Nigerian society. The paper recommends the restructuring of university educational policies and curriculum, provision of moral education and non-interference of the government and university authorities in the affairs of students’ union politics and activism.
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Abbas, Asiru Monday, Iye Gloria Agada, and Olaoluwa Kolade. "Impacts of Rice Importation on Nigeria's Economy." Journal of Scientific Agriculture 2 (February 14, 2018): 71. http://dx.doi.org/10.25081/jsa.2018.v2.901.
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This study critically examined the negative effects of importation of rice on the Nigerian economy. The study also took a look at various import policies embarked upon by the Nigerian government as inconsistency in policy is a major hurdle to long term investment in the rice sub-sector. Nigeria spends billions of Naira on annual basis to import rice with its attendant depletion of the nation’s foreign reserves and this study analyzed that this negative trend can be reversed as there are a lot of opportunities in the rice sector that will not only help the country to achieve self-sufficiency in rice production, but also transform the country from a net importer to an exporter of rice. In order to meet local demand, right investment has to be made in production, milling and grading (especially in the production of excellent quality rice that can replace imported rice), marketing, road infrastructure etc. It is recommended that farm inputs (fertilizers, improved quality seeds, pesticides etc.) should be heavily subsidized by the government at different levels as timely access to inputs can significantly raise the level of production and also lead to an increase in the quantity and quality of yield. Also, there has to be a consistent and business friendly government policy in the rice sub-sector in order to encourage investors.
Keywords: Consumption; opportunities; policies; production; systems; tariff
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Adebayo Oladipo, Olufemi, Francis Iyoha, Adeniran Fakile, Abiola John Asaleye, and Damilola Felix Eluyela. "Tax revenue and agricultural performance: evidence from Nigeria." Problems and Perspectives in Management 17, no. 3 (September 5, 2019): 342–49. http://dx.doi.org/10.21511/ppm.17(3).2019.27.
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The responsibility of the government of any economy cannot be overemphasized. Likewise, the resources generated and infrastructural development helps to boost the economic growth of any nation. There has been overdependency of Nigerian economy on the oil sector, the major source of revenue. However, this sector has experienced several challenges ranging from devaluation in naira and fall in prices of crude oil in the international market. This serves as a revelation for the Nigerian government to seek an additional source of income. To this end, the main aim of this paper is to examine the impact of total tax revenue on agricultural performance in Nigeria. The study uses Engel and Granger approach to cointegration to establish the long- and short-run behavior, it was found that a positive and significant relationship exists between revenue obtained in the agricultural sector, capital in agricultural sector proxy by loan and agricultural output, while employment and total tax generated are not significant in the short run. In the long run, employment, capital and total revenue are statistically significant with agricultural output, while tax is insignificant. The implication of the result showed that tax has not yielded desirable result in promoting the agricultural sector in Nigeria. To promote pro-poor growth, long-run employment and improve overall welfare, there is a need to incorporate benefit from tax into agricultural performance. The study recommends among others the need for a systemic approach, given a significant percentage of the total tax generated to boost the development of the agricultural sector.
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Adegoke, Babatunde O. A., and Adewale L. Oyeyemi. "Physical Inactivity in Nigerian Young Adults: Prevalence and Socio-Demographic Correlates." Journal of Physical Activity and Health 8, no. 8 (November 2011): 1135–42. http://dx.doi.org/10.1123/jpah.8.8.1135.
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Background:This study assessed the prevalence of physical inactivity and the influence of sociodemographic variables on physical activity categories, highlighting the correlates of physical inactivity in Nigerian young adults.Methods:A representative sample of young adults age 16 to 39 years (n = 1006) from a Nigerian University were categorized using the International Physical Activity Questionnaire as physically inactive, moderately active, and highly active. Prevalence rates were computed for the activity categories and the independent associations of sociodemographic correlates on each category were determined using the multinomial logistic regression.Results:Physical inactivity prevalence was 41%. More likely to be inactive were females (OR = 1.93; CI: 1.49−2.49), those of Hausa ethnicity (OR = 2.29; CI: 1.08−5.84), having BMI > 30 kg/m2 (OR = 2.88; CI: 1.16−7.17), and those whose parents’ annual income was < 180,000 NAIRA (OR = 1.69; CI: 1.04−2.95). Less likely to be moderately active were females (OR = 0.71; CI: 0.61−0.95), those with BMI between 25.0 to 29.9 kg/m2 (OR = 0.46; CI: 0.23−0.92), and those of Hausa ethnicity (OR = 0.17; CI: 0.04−0.74).Conclusion:Important sociodemographic variables that can contribute to the preliminary analysis of correlates of physical inactivity among Nigerian young adults were identified.
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Baruwa, Olayinka Isiaka. "Profitability and constraints of pineapple production in Osun State, Nigeria." Journal of Horticultural Research 21, no. 2 (December 1, 2013): 59–64. http://dx.doi.org/10.2478/johr-2013-0022.
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ABSTRACT Pineapple is a delicious tropical fruit with a fine flavour and high nutritive value. It is one of the most important commercial fruit crops in the world. Despite its popularity, no proper data on the costs of its production in Nigeria are available. The study determines profitability and constraints of pineapple production in Osun State, Nigeria. Multistage sampling technique was used to obtain information from 50 respondents using purposive and random selection. Data collected were analysed using descriptive statistics and budgetary technique. Results indicated that majority of the farmers were males, aged 53.7 years on average and engaged full time in pineapple production. The modal level of farmer’s education was primary. The average period of experience in pineapple farming was 13.5 years. The gross margin and net profits in Naira (Nigerian currency) were N182 725 and N162 045, respectively. The questionnaire in the study contained the most serious problems confronting pineapple farmers: limited availability of high quality planting materials, high fruit perishability, low fruit prices, low access to credits and plant diseases. Availability of high yielding pineapple varieties, establishment of cold storages to reduce fruit perishability, agricultural price support programmes, easier access to credit from formal sources and farmers’ education were considered essential to improve productivity and profitability of pineapple production in Nigeria.
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Baruwa, Olayinka Isiaka. "Performance Analysis of Small Scale Sweet Potato Farms in Oyo State, Nigeria." Agricultura Tropica et Subtropica 49, no. 1-4 (December 1, 2016): 38–44. http://dx.doi.org/10.1515/ats-2016-0005.
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AbstractThis study carried out an analysis of the performance of sweet potato production among small holder farmers in Oyo State of Nigeria. A combination of purposive and a two-stage random sampling technique were used to obtain information from 65 respondents. Data collected were analyzed using descriptive statistics, stochastic frontier functions and budgetary technique. Results indicated that majority of the farmers were literate, aged 43.3 years on the average, full time in sweet potato production and with mean farm size of 1.0 hectare. The gross margin and net profit were ₦76, 884.8 and ₦67,292.8, respectively (₦, naira Nigerian Currency, ₦160 = 1$US) indicating that sweet potato production was profitable. The return to scale (RTS) for the production function revealed that farmers operated in the irrational zone (stage I) of the production surface. The stochastic production frontier analysis revealed that the technical efficiencies of farmers was found to be fairly high with a mean of 0.92% which suggest that the average sweet potato output falls 0.08% short of the maximum possible level but the efficiency can be increased by better use of available resources.
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Frynas, Jedrzej George. "Legal Change in Africa: evidence from oil-related litigation in Nigeria." Journal of African Law 43, no. 2 (1999): 121–50. http://dx.doi.org/10.1017/s0021855300011311.
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There has been a significant rise in litigation between oil companies and those affected by oil operations in Nigerian courts. In the period 1981–86, 24 compensation claims against Shell went to court in Nigeria. In early 1998, Shell was reportedly involved in over 500 pending court cases in Nigeria, out of which 70 per cent, or roughly 350 cases, dealt with oil spills, the other 30 per cent, or 150 cases, dealt mostly with other types of damage from oil operations, contracts, employment and taxation. In the whole of the 1980s, Chevron reportedly had only up to c. 50 court cases in Nigeria. In early 1998, Chevron was involved in over 200 cases, of which 80–90 per cent, or roughly 160–180 cases, dealt with oil spills, other types of damage from oil operations or land acquisition for oil operations. This substantial increase cannot be solely ascribed to expanding oil operations. There are various indications that an increase in the quantity of oil-related litigation was accompanied by legal change. In the 1990s, a number of high profile cases have been won by the local people in the oil-producing areas, notably Shell v. Farah, in which c. 4.6 million Naira (c. US$210,000 according to the official exchange rate) was awarded as damages to the plaintiffs.
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Akanmu, Ayobami Ademola, Umar Obafemi Salisu, Simeon Oluwagbenga Fasina, Sekinat Motunrayo Sanni, Oluwatobi Maria Olatunji, and Caroline Adebimpe Faleti. "State of Urban Transport in a Nigerian Traditional City." Transport and Communications 8, no. 2 (2020): 1–12. http://dx.doi.org/10.26552/tac.c.2020.2.1.
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This study appraised the state of urban transport in a Nigerian traditional city. It examined commuters’ socio-economic and transit characterization, assessed the quality of transport infrastructural facilities and services, and identified the challenges of urban transport services in Ibadan city, Nigeria. 163 copies of questionnaires were systematic randomly administered on commuters along six (6) selected traffic-corridors in Ibadan. Both descriptive and inferential (Binary Logistics Regression) statistics were used for data analysis. Major findings revealed majority (about 40%) of commuters were civil servants and earn above 90,000 naira as monthly income. Mean Weighted Value results show that taxi (3.913) and motorcycle (3.756) are dominant and most patronized means. Similarly, the availability (4.075), safety (4.000) and affordability (3.625) were most-weighted factors influencing commuting modal choice, while a trip to work (3.718) and market (3.200) are most generated trips in Ibadan. Meanwhile, most of the assessed infrastructural facilities were of poor quality, while peak/off-peak transit issues (4.050) and vehicular mechanical failure (3.487) were major challenges affecting urban commuting. Binary logistics regression results show that the condition of urban transport infrastructural facilities significantly influence overall satisfaction with urban commuting (p < 0.000). Cox & Snell's R-Square (36%) and Nagelkerke’s R (70%) show that the model is relevant in predicting the relationship between dependent and independent variables. The study concluded that there is a need to improve urban transport system towards ensuring commuters satisfaction and urban development. Hence, recommended among others, integrated transport system with smart devices and improved conventional public transport scheme in Ibadan.
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Atoi, Ngozi V., and Chinedu G. Nwambeke. "Money and Foreign Exchange Markets Dynamics in Nigeria: A Multivariate GARCH Approach." Central Bank of Nigeria Journal of Applied Statistics 12, No. 1 (August 16, 2021): 109–38. http://dx.doi.org/10.33429/cjas.12121.5/6.
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This study examines money market and foreign exchange market dynamics in Nigeria by estimating the dynamic correlation and volatility spillovers between Nigeria Naira/US Dollar Bureau De Change (BDC) exchange rate and interbank call rate with data from January 2007 to August 2019. The study employs a dynamic conditional correlation form of GARCH model (DCC-GARCH) to access the nature of correlation, while an unrestricted bivariate BEKK-GARCH (1, 1) form of multivariate GARCH model is utilized to investigate shocks and volatility spillover of the rates. The estimated DCC-GARCH (1, 1) reveals that interest rate and exchange rate are dynamically linked negatively, suggesting that exchange rate (or interest rate) is inversely sensitive to interest rate (or exchange rate) in Nigeria. This result was substantiated by the estimated BEKK-GARCH(1, 1) model. Furthermore, the effects of news (shocks spillover) are bi-directional across the markets. However, volatility spillover is unidirectional, from exchange rate to interest rate, suggesting that, calming the volatility in foreign exchange market does guarantee moderation of volatility in the money market, whereas the reverse is not the case. The results underscore the growing influence of foreign exchange market in the financial space of the Nigerian economy. Thus, the study recommends that foreign exchange policies aimed at maintaining exchange rate stability should be sustained, having found exchange rate to be more effective in moderating interest rate volatility in Nigeria.
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Mukaila Olakorede, Nasiru. "A Univariate Time Series Autoregressive Integrated Moving Average Model for the Exchange Rate Between Nigerian Naira and US Dollar." American Journal of Theoretical and Applied Statistics 7, no. 5 (2018): 173. http://dx.doi.org/10.11648/j.ajtas.20180705.12.
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Lubeck, Paul M. "Islamic protest under semi-industrial capitalism: 'Yan Tatsine explained." Africa 55, no. 4 (October 1985): 369–89. http://dx.doi.org/10.2307/1160172.
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Opening ParagraphSince 1980, with considerable regularity during the dry season which propels the rural poor into the urban centres of northern Nigeria, religious riots have erupted in or adjacent to five cities: Kano (1980), Kaduna (1982), Bulum-Ketu near Maiduguri (1982), Jimeta near Yola (1984) and Gombe (1985). In each instance the conflict was remarkably similar. When confronted by the state authorities, an Islamic sect, the 'Yan Tatsine, unleashed an armed insurrection against the Nigerian security forces and those outside the sect, resulting in widespread destruction, in thousands of deaths and in millions of naira of property losses. Indeed, if one were to search for a historical equivalent in Nigerian history, only the communal riots of 1966 surpass the destruction wrought by the 'Yan Tatsine insurrections of the eighties. The account appearing in West Africa, describing the Gombe outbreak, provides a typical press analysis of the insurrection:Fighting began early on Friday, April 29 when a detachment of police moved in to arrest suspected members of a maitatsine type religious sect in the Pantami ward of Gombe. The suspected leader of the religious group is a man named Yusufu Adamu. That was when all hell broke loose. Within hours, some streets had been littered with corpses many of them caught in the cross fire between fanatics and the law enforcement agents. [West Africa, 6 May 1985: 876]For the following analysis it is noteworthy that the correspondent describes the sect as a ‘maitatsine type’, that the insurrection erupted only when the police attempted to arrest an alleged leader and that the members of the dissident sect are labelled ‘fanatics’ without any supporting evidence.
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Akpabio, A., C. Nga, I. Umoh, and O. Ita. "AB1142 TREATMENT COSTS OF SELECTED RHEUMATIC DISEASES IN SUB-SAHARAN AFRICA: A CASE FOR IMPROVED INSURANCE COVERAGE FOR AFRICAN PATIENTS." Annals of the Rheumatic Diseases 79, Suppl 1 (June 2020): 1861.2–1861. http://dx.doi.org/10.1136/annrheumdis-2020-eular.6434.
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Background:Rheumatic diseases lead to substantial economic costs1especially in resource-poor settings like sub-Saharan Africa (SSA).2Annual direct cost of lupus treatment ranges from $13,735-20,926 /patient in the US to £3231($4232)/patient in the UK.1,3Data is rare for SSA and Nigeria in particular where the minimum wage is N30,000 ($83/mth) with only 5% of citizens covered by health insurance.4,5The scheme excludes some medications and certain procedures are grossly underfunded. Cost-of-illness studies are invaluable in planning and policy development. They typically include: direct, indirect and intangible costs.6Objectives:To compare total costs of some rheumatic diseases, highlight underfunded therapies and push for wider insurance coverage of rheumatic diseases.Methods:A cross-sectional study from the University of Uyo Teaching Hospital - Nigeria using data of 252 clinic patients (20 lupus, 27 rheumatoid arthritis, 25 gout and 180 osteoarthritis). Direct costs were estimated using the hospital pricelist while indirect costs were estimated using the human capital method. Statistical analysis was done with p<0.05.Results:Females were the majority except for gout patients (44%). Most lupus patients were unemployed (75%) and had the highest annual total cost (N472,800–2,240,400) compared with the others. Key medications excluded from insurance are shown in table 2.Table 2.Uninsured treatments.MMFMethotrexateSulphasalazineAzathioprineHCQFebuxostatColchicineRituximabArthroplasty (N100,000*)Dialysis (6 sessions)Renal transplantTABLE 1.COST-OF-ILLNESS COMPARISON OF SELECTED RHEUMATIC DISEASESLupus (n=20)RA(n=27)Gout(n=25)OA(n=180)Age (years)33.9 ± 11.443.4 ± 14.357.4 ± 9.659.7 ± 9.1Female n (%)24(95)25(92)11(44)157(87)Average Duration of illness (years)4(1-11)3.5(2-10)3 (0.2-8)4(0.1-20)Unemployed n (%)15(75.0)19(70.3)12(48.0)62(34.4)Workdays missed/mth7523Direct costs (N’000)Total /mth (stable)32.42719.7518Total /yr (stable)388.8324237216Total /mth (severe)179.7155.632.523Total /yr (severe)2,156.41,867.2390276Indirect costsProductivity loss/mth7523Productivity loss/yr84602436Total costs/mthTotal costs/yr39.4 – 186.7472.8 – 2,240.432 – 160.6384 – 1.927.221.75 – 34.5261 – 41421 – 26252 – 3121$ = 360 Nigerian Naira (NGN), 1€ = NGN 402 as at 31/1/2020. Costs quoted in thousands of Naira.Conclusion:Total annual cost of lupus treatment in Nigeria is quite high ranging from (NGN 472,800–2,242,400) [$1313- 6228] for mild to severe disease. This contrasts with a mean annual national income of $1,000 given that 75% of lupus patients are unemployed. Expanded insurance coverage for rheumatic drugs will further reduce the enormous treatment burden and improve outcomes.References:[1]Slawsky KS et al. A structured literature review of the direct costs of Adult SLE in the US. Arthritis Care Res 2011:63(9); 1224-32.[2]Adelowo OO. Connective tissue diseases: challenges of management among Nigerians. Annals of Health Research. 2016: 2(2);60-65.[3]Khamashta M et al. The cost of care of SLE in the UK: Annual direct costs for adult SLE patients with active autoantibody disease. Lupus 2013:23(3):273-83[4]Uzochukwu BSC et al. Health care financing in Nigeria: Implications for achieving universal health coverage. Nigerian Journal of Clinical Practice. 2015;18(4):437-44.[5]Nigerian National Minimum Wage.https://tradingeconomics.com/nigeria/minimum-wagesAccessed (31/01/2020).[6]Zhu TY et al. Cost of illness studies in systemic lupus erythematosus: a systematic review. Arthritis Care Res. 63: 751-760Acknowledgments:All study participants, Drs Marvelous Ibanga and Eke Ogudu.Disclosure of Interests:None declared