Account and financial management journal, Feb 15, 2024
Notwithstanding the availability of cashless banking instrument in Nigeria, its definite impact o... more Notwithstanding the availability of cashless banking instrument in Nigeria, its definite impact on economic growth has not been well established. The goal of this study is to determine how Nigeria's economic growth is impacted specifically by cashless banking. Multiple regression analysis employing the ordinary least-square (OLS) approach was used in a quantitative design. However, the federal office of statistics and the CBN annual report provided the secondary data for this study. The relevance of the data is examined using the Ordinary Least Squares (OLS) approach. Augmented Dickey Fuller (ADF) unit root tests were also used in several tests to determine the viability of the model assumptions. The data indicate that point-of-sale terminals were relevant for economic growth throughout the study period. The results shows that cashless banking have significant effect on GDP in the long run. Users' education, availability in the hinterlands and security of the gadgets for the operators could enhance wide usage and acceptability. The government and bankers should work harder on building infrastructure and launching aggressive public awareness efforts in the meanwhile.
In the past, the agricultural financing policy of the Nigerian government emphasized primary prod... more In the past, the agricultural financing policy of the Nigerian government emphasized primary production without paying attention to the marketing of agricultural products. Consequently, the current emphasis by financial institutions on value chain financing has further compounded the problem of access to credit by smallholder farmers who account for over 90 per cent of agricultural production in Nigeria and do not have access to lucrative markets, nor adequate processing and storage facilities. More worrisome is how the right amount of investment can be acquired, particularly in a challenging environment where financial uncertainty causes a reduction in available resources along with increased fear and scrutiny of risk. From the perspective of other climes farmer linkages, improving access to improved seeds, fertilizers and production technology, enhancing farmer integration into the seed production, processing and marketing chain through farmer organization, training and out-grower contracts among others will boost agricultural value chain financing that will lead to sustainable development.
Evidence abound about the registered increase in foreign investment inflows in recent years. Whil... more Evidence abound about the registered increase in foreign investment inflows in recent years. While proponents emphasize that these inflows could engender economic growth, critics express concern that there could be destabilizing effect on the economy if not well managed. This study therefore, attempts to examine the effect of foreign investments (disaggregated into foreign direct investment and foreign portfolio investment) inflows on economic growth in Nigeria with a view to ascertaining the better contributor, using time series data from 1987-2012. The OLS and the Granger causality procedures were employed in analyzing the data. The result displays that both foreign direct investment and foreign portfolio investment have positive and significant effect on economic growth though the partial correlation coefficients show that foreign portfolio investment is the better contributor. Based on the result, government should pursue policies that encourage both foreign direct investment and especially foreign portfolio investment.
International journal of management & entrepreneurship research, Jun 27, 2022
The Nigerian government has openly publicized its intentions in commercializing agricultural biot... more The Nigerian government has openly publicized its intentions in commercializing agricultural biotechnology as an aid to realize food security in the nation. With a population estimated to be 200 million, the avoidance of food crises is at the core of the efforts of the federal government. One of the solutions to this problem adopted by major economies is agricultural biotechnology. Notwithstanding this truism, the country has not benefited exponentially from this technology. This paper will therefore investigate the issues hindering ample development of agricultural biotechnology in Nigeria while seeking a potential workable improvement to the trajectory in order to impact economic growth positively. The findings show agricultural biotechnology has the capacity to maneuver the underperforming agricultural sector into a viable one that can drive tremendous growth in Nigeria if a culture of Science and Technology on agric-biotechnology is embarked on, budgetary allocations that can fund research and development in this field is made and close monitoring to ensure compliance and quality control by all stake holders is maintained.
European Journal of Economic and Financial Research, Nov 26, 2021
Regardless of the vast amount of debt Nigerian government accommodate annually, the projected lev... more Regardless of the vast amount of debt Nigerian government accommodate annually, the projected level of development is not realized as sizeable percentage of her citizens still lives in miserable poverty, low standard of living and soaring level of unemployment and so on. Consequently, one starts to question why the theoretical proposition seems not to be working in the Nigerian perspective. It is based on these commotions that this research work seeks to scrutinize the effect of deficit financing on recovery and development of the Nigerian economy between the periods 1981 to 2015 employing error correction model and granger causality test. Study exposes that Federal Government external debt displays a significant P-value of 0.0173 with a positive coefficient of 0.000031 signifying that 1% increase in government external debt is capable of intensifying economic recovery and development in Nigeria to the tune of 0.00003. The details of the causality test also corroborate the report in the error correction model and thus advocate that external debt extensively adds to the development of the Nigeria economy while domestic debt and deficit budget does not give the impression to granger cause economic development in Nigeria. On this basis, study affirms that deficit financing is a crucial incentive in advancing economic development in Nigeria if effectively disbursed for the primary rationale for which it was meant for. Additionally, study thus authenticates the Keynesian theory of the existence of positive relationship between deficit financing and economic recovery. On this note, study recommends that
International Journal of Management & Entrepreneurship Research
The Nigerian government has openly publicized its intentions in commercializing agricultural biot... more The Nigerian government has openly publicized its intentions in commercializing agricultural biotechnology as an aid to realize food security in the nation. With a population estimated to be 200 million, the avoidance of food crises is at the core of the efforts of the federal government. One of the solutions to this problem adopted by major economies is agricultural biotechnology. Notwithstanding this truism, the country has not benefited exponentially from this technology. This paper will therefore investigate the issues hindering ample development of agricultural biotechnology in Nigeria while seeking a potential workable improvement to the trajectory in order to impact economic growth positively. The findings show agricultural biotechnology has the capacity to maneuver the underperforming agricultural sector into a viable one that can drive tremendous growth in Nigeria if a culture of Science and Technology on agric-biotechnology is embarked on, budgetary allocations that can fu...
Global Journal of Human-Social Science Research, 2015
This study is an investigation of the effects foreign investments have on exchange rate in Nigeri... more This study is an investigation of the effects foreign investments have on exchange rate in Nigeria. The work covered a period of 1987-2012 using annual data from Central Bank of Nigeria statistical bulletin. A growth model via the Ordinary Least Square method was used to ascertain the relationship between foreign investment inflows and exchange rate in Nigeria. Its main objective is to find the impact which foreign investments, decomposed into foreign direct investment (FDI) and foreign portfolio investment (FPI) have on exchange rate and the bidirectional influences between them. Of course, several studies have endeavored to examine the determinants of exchange rate in Nigeria. This study contributes to the literature by examining a possible determinant of exchange rate that has received less attention in the literature: foreign investment inflows. This paper examines this relationship with a view to determining the extent to which FDI and FPI effect exchange rate in Nigeria employ...
We analyzed cryptocurrency dynamics in the global U.S. dollar–denominated market and the emerging... more We analyzed cryptocurrency dynamics in the global U.S. dollar–denominated market and the emerging market economies (EMEs) with a view to ascertaining whether activities in these markets are predominantly shaped by reinforcement or substitution effect. Cryptocurrencies analyzed include the Bitcoins, Ethereum, Litecoin, Steller, Bitcoin Cash, and USD Tether. The results suggest that, on average, correlation between digital assets in the cryptocurrencies’ ecosystem is positive. However, there is evidence of an outlier with respect to the USD Tether (USDT) in the global market, revealing that the USDT is negatively associated with all other cryptocurrencies. This is supported by the dynamic regression results that provided evidence of reinforcement effect in favor of the USDT in the global crypto market, thus confirming the status of the USDT as “Stablecoin” as it is pegged 1:1 to USD. In the global market context, the results also revealed that USDT/USD returns had identical outliers t...
In the past, the agricultural financing policy of the Nigerian government emphasized primary prod... more In the past, the agricultural financing policy of the Nigerian government emphasized primary production without paying attention to the marketing of agricultural products. Consequently, the current emphasis by financial institutions on value chain financing has further compounded the problem of access to credit by smallholder farmers who account for over 90 per cent of agricultural production in Nigeria and do not have access to lucrative markets, nor adequate processing and storage facilities. More worrisome is how the right amount of investment can be acquired, particularly in a challenging environment where financial uncertainty causes a reduction in available resources along with increased fear and scrutiny of risk. From the perspective of other climes farmer linkages, improving access to improved seeds, fertilizers and production technology, enhancing farmer integration into the seed production, processing and marketing chain through farmer organization, training and out-grower...
This study analysed financial literacy and access for women entrepreneurs in Nigeria. The study i... more This study analysed financial literacy and access for women entrepreneurs in Nigeria. The study is qualitative in nature and adopted an interpretive research design which employed an in-depth interviews with mainly well-informed women entrepreneurs to evaluate their interpretations and perceptions of the influence of financial access and literacy on woman entrepreneurship in Enugu Metropolis, South-Eastern Nigeria. A purposeful sampling approach comprising twenty women entrepreneurs was employed for this research. The results indicates that financial literacy was a critical factor in the growth of women-owned business, this is found especially in the business start-up phase Furthermore, our analysis revealed that revealed that financial skill is critical to the growth and smooth operation of female-owned business.
European Journal of Economic and Financial Research, 2021
Regardless of the vast amount of debt Nigerian government accommodate annually, the projected lev... more Regardless of the vast amount of debt Nigerian government accommodate annually, the projected level of development is not realized as sizeable percentage of her citizens still lives in miserable poverty, low standard of living and soaring level of unemployment and so on. Consequently, one starts to question why the theoretical proposition seems not to be working in the Nigerian perspective. It is based on these commotions that this research work seeks to scrutinize the effect of deficit financing on recovery and development of the Nigerian economy between the periods 1981 to 2015 employing error correction model and granger causality test. Study exposes that Federal Government external debt displays a significant P-value of 0.0173 with a positive coefficient of 0.000031 signifying that 1% increase in government external debt is capable of intensifying economic recovery and development in Nigeria to the tune of 0.00003. The details of the causality test also corroborate the report in...
The impact of non-oil export on economic growth in Nigeria has been one of the most debated issue... more The impact of non-oil export on economic growth in Nigeria has been one of the most debated issues in recent years. This study examines the role of non-oil export on economic growth since deregulation between 1986 when deregulation took effect and 2012 which previous studies might have ignored. In achieving the objectives of the study, Ordinary Least Square Methods was employed. The study reveals that the impact of non- oil export on the economic growth was significant and positive as a unit increase in non-oil export impacted positively by 43% on the productive capacity of goods and services in Nigeria during the period. This is evident in the study that the contribution of non-oil sector during the period in Nigeria has improved above the results of other studies carried out from the pre-deregulation era. The study among other things encourages the government to further reinforce the legislative and supervisory framework of the non-oil sectors in Nigeria and diversify the economy ...
Evidence abound about the registered increase in foreign investment inflows in recent years. Whil... more Evidence abound about the registered increase in foreign investment inflows in recent years. While proponents emphasize that these inflows could engender economic growth, critics express concern that there could be destabilizing effect on the economy if not well managed. This study therefore, attempts to examine the effect of foreign investments (disaggregated into foreign direct investment and foreign portfolio investment) inflows on economic growth in Nigeria with a view to ascertaining the better contributor, using time series data from 1987-2012. The OLS and the Granger causality procedures were employed in analyzing the data. The result displays that both foreign direct investment and foreign portfolio investment have positive and significant effect on economic growth though the partial correlation coefficients show that foreign portfolio investment is the better contributor. Based on the result, government should pursue policies that encourage both foreign
Account and financial management journal, Feb 15, 2024
Notwithstanding the availability of cashless banking instrument in Nigeria, its definite impact o... more Notwithstanding the availability of cashless banking instrument in Nigeria, its definite impact on economic growth has not been well established. The goal of this study is to determine how Nigeria's economic growth is impacted specifically by cashless banking. Multiple regression analysis employing the ordinary least-square (OLS) approach was used in a quantitative design. However, the federal office of statistics and the CBN annual report provided the secondary data for this study. The relevance of the data is examined using the Ordinary Least Squares (OLS) approach. Augmented Dickey Fuller (ADF) unit root tests were also used in several tests to determine the viability of the model assumptions. The data indicate that point-of-sale terminals were relevant for economic growth throughout the study period. The results shows that cashless banking have significant effect on GDP in the long run. Users' education, availability in the hinterlands and security of the gadgets for the operators could enhance wide usage and acceptability. The government and bankers should work harder on building infrastructure and launching aggressive public awareness efforts in the meanwhile.
In the past, the agricultural financing policy of the Nigerian government emphasized primary prod... more In the past, the agricultural financing policy of the Nigerian government emphasized primary production without paying attention to the marketing of agricultural products. Consequently, the current emphasis by financial institutions on value chain financing has further compounded the problem of access to credit by smallholder farmers who account for over 90 per cent of agricultural production in Nigeria and do not have access to lucrative markets, nor adequate processing and storage facilities. More worrisome is how the right amount of investment can be acquired, particularly in a challenging environment where financial uncertainty causes a reduction in available resources along with increased fear and scrutiny of risk. From the perspective of other climes farmer linkages, improving access to improved seeds, fertilizers and production technology, enhancing farmer integration into the seed production, processing and marketing chain through farmer organization, training and out-grower contracts among others will boost agricultural value chain financing that will lead to sustainable development.
Evidence abound about the registered increase in foreign investment inflows in recent years. Whil... more Evidence abound about the registered increase in foreign investment inflows in recent years. While proponents emphasize that these inflows could engender economic growth, critics express concern that there could be destabilizing effect on the economy if not well managed. This study therefore, attempts to examine the effect of foreign investments (disaggregated into foreign direct investment and foreign portfolio investment) inflows on economic growth in Nigeria with a view to ascertaining the better contributor, using time series data from 1987-2012. The OLS and the Granger causality procedures were employed in analyzing the data. The result displays that both foreign direct investment and foreign portfolio investment have positive and significant effect on economic growth though the partial correlation coefficients show that foreign portfolio investment is the better contributor. Based on the result, government should pursue policies that encourage both foreign direct investment and especially foreign portfolio investment.
International journal of management & entrepreneurship research, Jun 27, 2022
The Nigerian government has openly publicized its intentions in commercializing agricultural biot... more The Nigerian government has openly publicized its intentions in commercializing agricultural biotechnology as an aid to realize food security in the nation. With a population estimated to be 200 million, the avoidance of food crises is at the core of the efforts of the federal government. One of the solutions to this problem adopted by major economies is agricultural biotechnology. Notwithstanding this truism, the country has not benefited exponentially from this technology. This paper will therefore investigate the issues hindering ample development of agricultural biotechnology in Nigeria while seeking a potential workable improvement to the trajectory in order to impact economic growth positively. The findings show agricultural biotechnology has the capacity to maneuver the underperforming agricultural sector into a viable one that can drive tremendous growth in Nigeria if a culture of Science and Technology on agric-biotechnology is embarked on, budgetary allocations that can fund research and development in this field is made and close monitoring to ensure compliance and quality control by all stake holders is maintained.
European Journal of Economic and Financial Research, Nov 26, 2021
Regardless of the vast amount of debt Nigerian government accommodate annually, the projected lev... more Regardless of the vast amount of debt Nigerian government accommodate annually, the projected level of development is not realized as sizeable percentage of her citizens still lives in miserable poverty, low standard of living and soaring level of unemployment and so on. Consequently, one starts to question why the theoretical proposition seems not to be working in the Nigerian perspective. It is based on these commotions that this research work seeks to scrutinize the effect of deficit financing on recovery and development of the Nigerian economy between the periods 1981 to 2015 employing error correction model and granger causality test. Study exposes that Federal Government external debt displays a significant P-value of 0.0173 with a positive coefficient of 0.000031 signifying that 1% increase in government external debt is capable of intensifying economic recovery and development in Nigeria to the tune of 0.00003. The details of the causality test also corroborate the report in the error correction model and thus advocate that external debt extensively adds to the development of the Nigeria economy while domestic debt and deficit budget does not give the impression to granger cause economic development in Nigeria. On this basis, study affirms that deficit financing is a crucial incentive in advancing economic development in Nigeria if effectively disbursed for the primary rationale for which it was meant for. Additionally, study thus authenticates the Keynesian theory of the existence of positive relationship between deficit financing and economic recovery. On this note, study recommends that
International Journal of Management & Entrepreneurship Research
The Nigerian government has openly publicized its intentions in commercializing agricultural biot... more The Nigerian government has openly publicized its intentions in commercializing agricultural biotechnology as an aid to realize food security in the nation. With a population estimated to be 200 million, the avoidance of food crises is at the core of the efforts of the federal government. One of the solutions to this problem adopted by major economies is agricultural biotechnology. Notwithstanding this truism, the country has not benefited exponentially from this technology. This paper will therefore investigate the issues hindering ample development of agricultural biotechnology in Nigeria while seeking a potential workable improvement to the trajectory in order to impact economic growth positively. The findings show agricultural biotechnology has the capacity to maneuver the underperforming agricultural sector into a viable one that can drive tremendous growth in Nigeria if a culture of Science and Technology on agric-biotechnology is embarked on, budgetary allocations that can fu...
Global Journal of Human-Social Science Research, 2015
This study is an investigation of the effects foreign investments have on exchange rate in Nigeri... more This study is an investigation of the effects foreign investments have on exchange rate in Nigeria. The work covered a period of 1987-2012 using annual data from Central Bank of Nigeria statistical bulletin. A growth model via the Ordinary Least Square method was used to ascertain the relationship between foreign investment inflows and exchange rate in Nigeria. Its main objective is to find the impact which foreign investments, decomposed into foreign direct investment (FDI) and foreign portfolio investment (FPI) have on exchange rate and the bidirectional influences between them. Of course, several studies have endeavored to examine the determinants of exchange rate in Nigeria. This study contributes to the literature by examining a possible determinant of exchange rate that has received less attention in the literature: foreign investment inflows. This paper examines this relationship with a view to determining the extent to which FDI and FPI effect exchange rate in Nigeria employ...
We analyzed cryptocurrency dynamics in the global U.S. dollar–denominated market and the emerging... more We analyzed cryptocurrency dynamics in the global U.S. dollar–denominated market and the emerging market economies (EMEs) with a view to ascertaining whether activities in these markets are predominantly shaped by reinforcement or substitution effect. Cryptocurrencies analyzed include the Bitcoins, Ethereum, Litecoin, Steller, Bitcoin Cash, and USD Tether. The results suggest that, on average, correlation between digital assets in the cryptocurrencies’ ecosystem is positive. However, there is evidence of an outlier with respect to the USD Tether (USDT) in the global market, revealing that the USDT is negatively associated with all other cryptocurrencies. This is supported by the dynamic regression results that provided evidence of reinforcement effect in favor of the USDT in the global crypto market, thus confirming the status of the USDT as “Stablecoin” as it is pegged 1:1 to USD. In the global market context, the results also revealed that USDT/USD returns had identical outliers t...
In the past, the agricultural financing policy of the Nigerian government emphasized primary prod... more In the past, the agricultural financing policy of the Nigerian government emphasized primary production without paying attention to the marketing of agricultural products. Consequently, the current emphasis by financial institutions on value chain financing has further compounded the problem of access to credit by smallholder farmers who account for over 90 per cent of agricultural production in Nigeria and do not have access to lucrative markets, nor adequate processing and storage facilities. More worrisome is how the right amount of investment can be acquired, particularly in a challenging environment where financial uncertainty causes a reduction in available resources along with increased fear and scrutiny of risk. From the perspective of other climes farmer linkages, improving access to improved seeds, fertilizers and production technology, enhancing farmer integration into the seed production, processing and marketing chain through farmer organization, training and out-grower...
This study analysed financial literacy and access for women entrepreneurs in Nigeria. The study i... more This study analysed financial literacy and access for women entrepreneurs in Nigeria. The study is qualitative in nature and adopted an interpretive research design which employed an in-depth interviews with mainly well-informed women entrepreneurs to evaluate their interpretations and perceptions of the influence of financial access and literacy on woman entrepreneurship in Enugu Metropolis, South-Eastern Nigeria. A purposeful sampling approach comprising twenty women entrepreneurs was employed for this research. The results indicates that financial literacy was a critical factor in the growth of women-owned business, this is found especially in the business start-up phase Furthermore, our analysis revealed that revealed that financial skill is critical to the growth and smooth operation of female-owned business.
European Journal of Economic and Financial Research, 2021
Regardless of the vast amount of debt Nigerian government accommodate annually, the projected lev... more Regardless of the vast amount of debt Nigerian government accommodate annually, the projected level of development is not realized as sizeable percentage of her citizens still lives in miserable poverty, low standard of living and soaring level of unemployment and so on. Consequently, one starts to question why the theoretical proposition seems not to be working in the Nigerian perspective. It is based on these commotions that this research work seeks to scrutinize the effect of deficit financing on recovery and development of the Nigerian economy between the periods 1981 to 2015 employing error correction model and granger causality test. Study exposes that Federal Government external debt displays a significant P-value of 0.0173 with a positive coefficient of 0.000031 signifying that 1% increase in government external debt is capable of intensifying economic recovery and development in Nigeria to the tune of 0.00003. The details of the causality test also corroborate the report in...
The impact of non-oil export on economic growth in Nigeria has been one of the most debated issue... more The impact of non-oil export on economic growth in Nigeria has been one of the most debated issues in recent years. This study examines the role of non-oil export on economic growth since deregulation between 1986 when deregulation took effect and 2012 which previous studies might have ignored. In achieving the objectives of the study, Ordinary Least Square Methods was employed. The study reveals that the impact of non- oil export on the economic growth was significant and positive as a unit increase in non-oil export impacted positively by 43% on the productive capacity of goods and services in Nigeria during the period. This is evident in the study that the contribution of non-oil sector during the period in Nigeria has improved above the results of other studies carried out from the pre-deregulation era. The study among other things encourages the government to further reinforce the legislative and supervisory framework of the non-oil sectors in Nigeria and diversify the economy ...
Evidence abound about the registered increase in foreign investment inflows in recent years. Whil... more Evidence abound about the registered increase in foreign investment inflows in recent years. While proponents emphasize that these inflows could engender economic growth, critics express concern that there could be destabilizing effect on the economy if not well managed. This study therefore, attempts to examine the effect of foreign investments (disaggregated into foreign direct investment and foreign portfolio investment) inflows on economic growth in Nigeria with a view to ascertaining the better contributor, using time series data from 1987-2012. The OLS and the Granger causality procedures were employed in analyzing the data. The result displays that both foreign direct investment and foreign portfolio investment have positive and significant effect on economic growth though the partial correlation coefficients show that foreign portfolio investment is the better contributor. Based on the result, government should pursue policies that encourage both foreign
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