Tag Archives: Economic

An Assessment of the Performance of Small and Medium Textile Enterprises in Ghana (Published)

In the wake of unemployment and economic hardship in Ghana, the study sought to assess the financial, social and environmental performance of Small and Medium Textile Enterprises (SMTEs) as they are a major driver of employment generation and other opportunities in the textile sector in Ghana. The study is quantitative research. A multi-stage sampling procedure involving convenient, purposive and stratified sampling techniques was employed in this study. A sample size of 300 was drawn from the 80 SMTEs. The study established that Ghana’s small and medium textile enterprises have not performed exceptionally well generally over the past five years. However, the study observed a relatively good performance in terms of their financial performance. Similarly, the social and environmental performances of the textile enterprises have also been found to be good. To make the most of using advanced technologies to enhance their performances, SMTEs must follow market dynamics, pay more attention to customer interaction and establish interdependent relationships in the industry.

Citation: Isaac Abraham  and Ebenezer Kofi Howard (2022)  An Assessment of the Performance of Small and Medium Textile Enterprises in Ghana, International Journal of Small Business and Entrepreneurship Research, Vol.10, No.2, pp.,1-14

Keywords: Economic, Enterprise, Performance, social and environmental

Corporate Sustainability Efficiency and Firm Value. A Study of Nigeria’s Deposit Money Banks (Published)

Concerns about climate change, and environmental sustainability have brought to the public fore the need for corporate organizations to incorporate sustainability information in their reports.  This study was carried out to examine the relationship between corporate sustainability efficiency and market value of listed Deposit Money Banks in Nigeria. The population of the study consist of all listed DMBs in Nigeria. Data for the study were obtained from published financial reports for the period 2017 to 2020. Findings of the study showed that social, economic and environmental efficiency practices have a significant positive effect on market values of listed DMBs in Nigeria.   The study also finds a positive but not significant relationship of bank complexity with market value of DMBs and recommends amongst others that DMBs should intensify efforts to ensure adequate attention is given to sustainability efficiency practices to attract higher stock market values.

Citation: Akprorien, Olum Fidelis, Otuya, Sunday, & Archibong, Etim Archibong (2022) Corporate Sustainability Efficiency and Firm Value. A Study of Nigeria’s Deposit Money Banks, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 6, pp.19-30

 

Keywords: Economic, Environmental, Firm Value, Social, Sustainability, corporate efficiency

Effect of Tax Revenue Generation on Economic Growth in Nigeria (Published)

Citation: Confidence Joel Ihenyen  and  Tovie Annabel Stephen Ogbise (2022)  Effect of Tax Revenue Generation on Economic Growth in Nigeria, International Journal of Business and Management Review, Vol.10, No.2, pp.44-53

Abstract: The contribution of taxation to all economies around the world cannot be exaggerated. Apart from the revenue function it performs for the government, it is also used to help the country achieve its macroeconomic goals in the areas of fiscal and monetary policy. While a significant portion of Nigeria’s income comes from taxes, it has long been observed that the role of taxation in stimulating economic activity and growth remains unrecognized especially in the area of infrastructure and basic equipment. Earlier documents have shown that tax revenues in developed countries have a significant impact on economic growth, which is clearly reflected in the services provided by these countries. Therefore, the main purpose of this study is to investigate the relationship between Nigerian tax revenues and economic growth in Nigeria. Multiple linear regression analysis was used to analyze the data using the Microsoft Excel package. As a result, petroleum profit tax, company income tax and value added tax have a positive impact on Nigeria’s economic growth, while custom excise and duties have a negative impact, but overall, between tax revenue and Nigeria’s economic growth, there is a significant correlation. The use of  generated tax revenue is a serious concern,  requires  special attention of policy makers, taxpayer violations of tax law are obstacles, and inefficient tax administration is a sufficient loophole for tax evasion. As a result, income is reduced. In particular, the Tax Administration is only responsible for qualified professionals and trusted persons, and it is advisable to thoroughly educate the importance of taxes for the entire population.

Keywords: : Generation, Economic, Growth, Revenue, Tax

National Budget Management and Economic Development in Nigeria (Published)

Citation: Ojomolade, Dele Jacob ,  Ugwulali, Ifeanyi Joseph &Adejuwon, Joshua Adewale  (2022) National Budget Management and Economic Development in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 3, pp.18-30

Abstract: This study examines the impact of national budget management on economic development in Nigeria emphasising the controversial issues of whether its impact is visibly seen or not on Nigeria’s development. Secondary data were sourced from Central Bank of Nigeria statistical bulletin, 2020 and the data were analysed using co-integration and descriptive statistics. The results revealed long run relationship among the variables with ARDL bound test of F-statistic of 9.4 which is greater than the upper and lower bound while the R-squared is 85.2 and Adjusted R-squared is 70.4 which show those explanatory variables are jointly significant and estimated model is of good fit .The Durbin Watson is 1.7 and the Prob.(F-statistics) is less than 5% denoting absence of serial correlation. The study found out that Education and health have negative relationship with economic development in the Nigerian budgeting system, implying that increasing annual budget allocation results in decreasing proportion of education and health in the total national budget estimates. It was further found out that budget estimate and public debt payment services have positive relationship, implying that the more the budget estimates, the more the proportion of public debt services. The study concluded that the Nigerian government does not have enough budgetary allocation to education and health while substantial amount is being allocated to debt servicing. It is therefore recommended that Nigerian government should endeavor to develop human capital by increasing budget allocation to education and health to create a wealthy nation and sustainable development.

Keywords: Development, Economic, Government, Nigeria, national budget

Re-evaluating Economic Genocide (Published)

Keywords: Conflict, Economic, Genocide, in-group, out-group

Commercialisation of Nigeria-Canada Indigenous Vegetables Project and Economic Empowerment of Women in Southwestern Nigeria (Published)

The study investigated the extent of commercialisation of the grown Nigeria-Canada indigenous vegetables among participating women in the study area as well as its impact on women’s economic empowerment. These were with a view to providing information on the extent to which commercialisation of the Nigeria-Canada indigenous vegetables could improve women’s economic empowerment. The study used primary data. Multistage sampling technique was used to select 300 project women for the study from three out of the four states where the project took place between 2011 and 2014 using a simple random technique. This implied that the participants were selected from 15 Local Government Areas and 30 communities were selected using a simple random sampling technique. Ten participants were selected from each community using a convenience sampling technique. An adapted instrument titled “Questionnaire on NICANVEG Project and Economic Empowerment of Women (QNEEW)” was used to collect data from the participants. Data collected were analysed using percentages, relative significant index, Pearson Product Moment correlation formular and multiple regressions. The results showed that 89.7% of the women highly participated in the NICANVEG project. The result further showed that the extent of commercialisation of the vegetables among women were 78.0%, 13.7% and 8.3% for full, semi and subsistence commercialisation respectively. Moreover, the result showed that the prominent challenges being faced by the women vegetables farmers were expensive farm equipment (3.57, RSI = 0.719), the untimely fund (= 3.53 RSI = 0.711) and poor market prices of vegetables (= 3.32, RSI = 0.666). Furthermore, the result revealed a significant positive correlation between NICANVEG project and the economic empowerment of women (r = .490, p <.05). Finally, it showed that there was a significant relationship between the extent of commercialisation and women economic empowerment in the study areas (R2 = .48.3, Adj R2 = .478, f = 94.666, p <.05). It was concluded that commercialisation of under-utilised indigenous vegetables greatly impacted the economic empowerment of the participating women in Southwestern Nigeria. 

Keywords: Commercialisation, Economic, NICANVEG, empowerment and women

Global News Agencies: Economic, Political and Socio-Cultural Implications of Their Negative Reportage of Developing Nations like Nigeria (Published)

Global news agencies have played vital roles in the growth and development of mass communication, they provided on -the spot reports of events from around the globe, in-depth investigations and analysis of events that have shaped the world. But the imbalance of their reportage has not gone down well with developing countries who have alleged that their part of the world is been under reported and unfairly treated in terms of content. According to studies, this negative reportage has led to some implications on the economic, political and socio-cultural aspects of their lives. These allegations were x-rayed to verify its authenticity. Having realized the implications and examined it, some recommendations were made and they include: The stereotypes on Nigeria, Africa and other developing countries caused by the negative reports by the global news agencies especially Western media must be deconstructed using scientific and educational tools. The media’s approach towards Africa must be revised and their informative strategies realigned to consider the trends, contexts and positive events occurring in the continent. Sensitization and educational programmes involving the Western public are required at various levels to promote the desire to have better in-depth and qualified information on the African reality. Gate keeping theory of mass communication served as the theoretical framework for this research while the internet served as source of data collection.

Keywords: Developing Nations, Economic, Nigeria, Political, global news agencies, negative reportage, socio-cultural implications

Carbon Dioxide and Enhanced Oil Recovery Project: Economic and Risk Base Model (Published)

The use of CO2 for EOR project can either be (1) capturing flue gas, separate the CO2, store and transport it to injection point or (2) purchase a volume of the CO2 needed for the project. This paper examined the former, for a reservoir that requires CO2 injection for EOR. Economics and stochastic analysis were carried out to ascertain the viability of the CO2-EOR project. The forecast variables (NPV, IRR and PI) from the economic (deterministic) model shows that the project is viable. However, the risk (stochastic) model shows that there is less than 50.725%, 52.274% and 52.274% certainty that the project will yield $631.5MM NPV, 58% IRR and 3.51 PI, with an average of 51,76% uncertainty impacted by the input parameters (CAPEX, OPEX, oil price and discount rate). The CAPEX and discount rate are the major parameters that impact high uncertainty on the project. Therefore, mitigating them will increase the chances of obtaining the values forecast variables.

Keywords: Carbon Dioxide (CO2), Economic, Enhanced Oil Recovery (EOR)., Uncertainty, probability distribution function, stochastic

Jukun-Tiv Relations in the Benue Valley Region: The 2019 Scuffles in Southern Taraba State, Nigeria (Published)

Conflict, in general, is an inevitable part of relationship within and between groups and societies. It is intrinsic and thus natural to human and is expressed in diverse forms, differences in opinion, views and sentiments etc. When conflict occurs, interests are always at stake. The values attached to these interests mostly define the nature and character of such conflict. The most disturbing is the violence that often leaves in its wake several loss of lives, destruction of valuable property and a general sense of insecurity. The 2019 Jukun-Tiv conflict in Wukari assumed such a character with the attendant consequences of violent conflict, fast becoming the “normal” reality of our time. This is not only dangerous and unacceptable, but has formed the basis on which this research work is dedicated to resolving. Through a multi-disciplinary approach, the research attempt an analysis of the nature and character of the 2019 Jukun-Tiv conflict within a broader context of relationship in the Benue Valley Region of Nigeria. At the end, practicable and justifiable processes and ways that would guarantee positive and viable relationship between the Jukun and Tiv are suggested.

Keywords: Colonial, Conflict, Economic, Political, Politics, Relationship, Social, policies, pre-colonial

Jukun-Tiv Relations in the Benue Valley Region: The 2019 Scuffles in Southern Taraba State, Nigeria (Published)

Conflict, in general, is an inevitable part of relationship within and between groups and societies. It is intrinsic and thus natural to human and is expressed in diverse forms, differences in opinion, views and sentiments etc. When conflict occurs, interests are always at stake. The values attached to these interests mostly define the nature and character of such conflict. The most disturbing is the violence that often leaves in its wake several loss of lives, destruction of valuable property and a general sense of insecurity. The 2019 Jukun-Tiv conflict in Wukari assumed such a character with the attendant consequences of violent conflict, fast becoming the “normal” reality of our time. This is not only dangerous and unacceptable, but has formed the basis on which this research work is dedicated to resolving. Through a multi-disciplinary approach, the research attempt an analysis of the nature and character of the 2019 Jukun-Tiv conflict within a broader context of relationship in the Benue Valley Region of Nigeria. At the end, practicable and justifiable processes and ways that would guarantee positive and viable relationship between the Jukun and Tiv are suggested.

 

Keywords: Colonial, Conflict, Economic, Political, Politics, Relationship, Social, policies, pre-colonial

The Effect of Socio-Economic Factors on Sustainable Food Consumption in Developing Economies (Published)

This study was aimed at determining socio-economic factors influencing sustainable food consumption in developing countries. Nigeria which is regarded as the ‘giant’ of Africa with a total population of over 200 million was used for the study. The growing global population has given an ardent need to focus specially on sustainability issues arising from food consumption. The Socio-economic domain dwells on food affordability while emphasizing the social acceptability of foods. Various economic and sociological theories such as Engels law, Keynesian theory and Veblenian theory were reviewed and previous empirical works in these areas discussed. Selected households from the south eastern part of Nigeria were used as respondents for the study and the formulated hypotheses tested with the use of multiple regression. Results reveal a significant relationship between product price, income and education, social groups and substitutes on food consumption. Findings were discussed and conclusions drawn thereof.

Keywords: Consumption, Economic, sociological, sustainable foods

Economic Analysis of Rice Marketing In Some Selected Local Government Areas of Ekiti State, Nigeria (Published)

This study examined economic analysis of rice marketing in some selected Local Government Areas (LGAs) of Ekiti State, Nigeria. A total of one hundred and twenty respondents were sampled for the study in three (LGAs) in Ekiti State. A multi-stage random sampling technique was used to collect the sample. The result of the socio-economic characteristics of the marketers in the study area showed that the marketers were experienced. The results also indicated that majority of the respondents involved in marketing of food items (95%) while only 5% also practiced farming. The result of the findings showed that rice availability is very regular (80%) in the study area. The marketing margin was highest in Ijero (LGA) with 900 per 50kg of rice and the marketing efficiency was highest in Ado (LGA) (0.93). The gross margin analysis obtained was 106,207.80, revealing that rice marketing is a profitable business in the study area.

Keywords: Analysis, Economic, Marketing, Rice

Impact of Monetary Policy on Economic Growth in Nigeria (1990-2017) (Published)

The study examined the impact of monetary policy on economic growth in Nigeria; for the period 1990-2017. Secondary data were collected from the Central Bank of Nigeria Statistical Bulletin. The study used Gross Domestic Product as proxy for economic growth and employed as the dependent variable; whereas, monetary policy rate, liquidity rate and Treasury Bills respectively were used as the explanatory variables to measure monetary policy. Hypotheses formulated were tested using Ordinary Least Square (OLS) techniques. The study revealed a significant impact of Treasury Bills on Gross Domestic Product in Nigeria. Liquidity ratio had a significant impact on Gross Domestic Product in Nigeria. Monetary policy rate had a significant impact on Gross Domestic Product in Nigeria. The coefficient of determination indicated that about 62% of the variations in private sector of the economy can be explained by changes in monetary policy variables. The study concluded that monetary policy had impacted significantly on private sector growth in Nigeria. The study recommended that policy makers should strong economic policies that will maintain and stabilize the economy. CBN should lay down strict prudential guidelines to stabilize and strengthen the economy. The CBN should review the Monetary Policy Rate downwards so as to reduce the cost of credit and increase the flow of investible funds to the economy.

Keywords: Economic, Growth, Nigeria, Policy, monetary

Socio, Economic and Political Significance of Rap Culture on African Americans (Published)

Rap music is a derivative of the oral form of literature, which is man’s original medium of self-expression and artistic creativity. Rap music is a highly prolific component of a popular culture which has served as a means of expressing the plight of the black man in a predominantly prejudiced white society. Rap music came as a result of the elongated measure of exposure to slavery, segregation and prejudice. In order to air their mind, different forms of literature were employed, one of which is Rap music which has been identified as (Rhythm and Blues). This work takes a look into the socio, economic and political significances of Rap culture on African-Americans and how it enhances their lives.

Keywords: Culture, Economic, Political, Rap, Slavery

Relationship Between International Trade and Economic Growth: A Case of Ho Chi Minh City (Published)

Economic growth has been gradually reduced depending on investment capital, increasing scientific and technical factors. Commercial sector of Ho Chi Minh City (HCMC) continued to grow, total retail sales of goods and service revenue increased higher than the same period. However, the context of 2019, HCMC has facing many problems such as the limitations of investment resources, human resource quality… This requires HCMC must improve the quality of economic growth. Therefore, the objective of this study is to explore the determinants affecting the economic growth of HCMC. The researchers surveyed 400 managers related to exporting enterprise in HCMC. They answered 15 questions and 395 samples processed. The data collected from August 2018 to April 2019 in HCM. Simple random sampling technique. The data analyzed Cronbach’s Alpha and the exploratory factor analysis (EFA), which used for Structural Equation Modelling (SEM) technique. Managers’ responses measured through an adapted questionnaire on a 5-point Likert scale. Finally, the findings of the paper have three factors affecting the economic growth of HCMC with significance level 0.01.

Keywords: Economic, Growth, International, trade and export

Impact of Primary Mortgage Institutions’ Investments on Economic Growth in Nigeria (1995-2017) (Published)

The study examined the impact of primary mortgage institutions’ investments on economic growth in Nigeria; for the period 1995-2017. Secondary data were used and collected from Central Bank of Nigeria Statistical Bulletin. The study employed Gross Domestic Product as proxy for Economic Growth and used as the dependent variable; whereas, Primary Mortgage Institutions Investment, Primary Mortgage Institution Deposit, Primary Mortgage Institutions’ Loan and used as the explanatory variables. Hypotheses were formulated and tested using Ordinary Least Square econometrics techniques.  Primary mortgage institutions’ investments had asignificant impact on Gross Domestic Product in Nigeria. Primary mortgage institutions’ deposithad a significant impact on Gross Domestic Product in Nigeria. Primary mortgage institutions’ loan had a significant impact on Gross Domestic Product in Nigeria. The coefficient of determination indicated that about 68% of the variations in economic growth can be explained by changes in primary mortgage institutions’ investments variables in Nigeria.The study concluded that primary mortgage institutions’investments had a significant impact on economic growth in Nigeria.The study recommended that the Federal Mortgage Bank of Nigeria should relax some of the regulations guiding the operations of the PMIs and liberalize the subsector for more effective performance. The primary mortgage institutions should redirect major parts of their loan able funds to building and renovation of residential buildings instead of concentrating on commercial buildings and neglecting residential properties. Such redirection is expected to increase their impact on provision of housing and enhance their contributions to real estate development in Nigerian economy. Allocation under the Land Use Act of 1978 that has made land acquisition more difficult should be readdressed. The delay in getting Certificate of Occupancy is a major problem. Government should review or repeal the Act to enable easy land acquisition by individuals.

Keywords: Economic, Growth, Institutions, Investments, Nigeria, Primary Mortgage

The vision of tourist guides to the profession of tourism in terms of economic in Jordan (Published)

The study aims to know the direction of the prosecution’s tour to the professional guide of tourism from an economic and in Jordan. Hence the study to see the look of the prosecution’s tour to the professional guide of tourism from an economic and in Jordan and you can develop this skill in the future because of their essential role in the process of Tourism. The study found a range of results, the most important being that there is a significant relationship between seeing the prosecution’s tour to the professional guide of tourism from an economic and in Jordan and job and monthly income, the study recommended a set of recommendations the most important stakeholders work to improve the economic reality of the counseling profession tourist disbursement of bonuses For be suitable for its work, and to encourage the tourist guide the amount, the need to actually improve job skills of tourist guides, and facilitate the work of the tourist guide.

Keywords: Career, Economic, Tourism, tour guides

Analysis of Interest Rate Determination and Its Effect on Economic Growth in Nigeria (1990-2017) (Published)

The study examined the analysis of interest rate determination and its effect on economic growth in Nigeria; for the period 1990-2017. Secondary data were used and sourced from Central Bank of Nigeria Statistical Bulletin. The study employed Gross Domestic Product as proxy for Economic Growth and used as the dependent variable; whereas, prime lending rate (interest rate), inflation and private domestic investment were used as explanatory variables to measure interest rate. Hypotheses were formulated and tested using Ordinary Least Square econometrics models.  Private domestic investment had a significant effect on Gross Domestic Product in Nigeria. Inflation had an insignificant effect on Gross Domestic Product in Nigeria. Interest rate had an inverse significant effect on Gross Domestic Product in Nigeria. The coefficient of determination indicates that about 65% of the variations in economic growth can be explained by changes in commercial bank lending variables in Nigeria. The study concluded that interest rate had an insignificant effect on economic growth in Nigeria. The study recommended that Government and policy makers should focus on maintaining inflation at a low rate (single digit) and ensure that the rate is stable; this will take care of the problem of inflation on the economy. CBN should increase their surveillance on the commercial banks; in order to address the issue of arbitrarily increase of the lending rate. Government should provide healthy environment for the banks in the industry so as to render efficient financial services to the economy.

Keywords: Analysis, Determination, Economic, Growth, Interest Rate, Nigeria

Research and Innovation Strategies for Economic Competitiveness and Industrial Growth: Lessons for Nigeria (Published)

One of the leading unrealized opportunities in Nigerian industrial organizations is the full influence of research ideas and knowledge to transform business products and processes into long-term innovation. Business research and innovation contribute significantly to improvement in enterprise productivity and quality and in the integral components of business strategy and success. Drawing heavily from published literature, this paper highlights the enormous benefits of continual research and innovation on national economies, and proffers recommendations on how Nigeria could key into this concept to promote its economic competitiveness at the global level.

Keywords: Competitiveness Industrial Growth, Economic, Innovation, Nigeria, Research, Strategies.

Assessment of Digital Economic Trade on Consumer (Published)

Increasing volumes of e-trade contribute to motivation of consumers to obtain commodities and services in electronic space. At the same time, upsurge of e-trade determines rising scopes of shadow economy in respect of favorable conditions for traders and service providers to operate in e-space evading taxpaying. The purpose of the article is to identify the factors of digital shadow consumption. In order to fulfill the defined purpose, the empirical research – survey of consumers (e-trade participants) – was performed. The research of the scientific literature has revealed that thus far the problem of consumers’ participation in digital shadow economy has been basically analyzed focusing on the impact of e-payment systems on shadow economy. Nevertheless, the rapid spread of e-services determines the changes in the concept of shadow economy itself. It remains indistinct which features indicate whether economic activities performed in e-space should be accounted or not. Widely exploited e-spaces such as social network platforms, alternative future currencies, e-trade systems, cyber computer games or online gambling terminals generate turnover of real money (or its electronic equivalent), which is not officially accounted. The problem raised in this article is highly topical for Lithuania, where online networks as well as mobile connection systems are comparatively advanced (with reference to the data of Lithuanian Department of Statistics, the number of households possessing a computer and the Internet access made over 65% in 2013). Intense exploitation of advanced IT technologies and online networks is considered as a breeding ground for generation of digital economy, a part of which is presumed to be digital shadow. The results of the research have revealed that the most significant factors of digital shadow consumption include lower prices of products and services in digital black markets, unfavorable economic situation in the country, technological advancement, IT advantages, time saving obtaining a product/service in the local market and lack of opportunities to obtain a desired product in the local market. The majority of the consumers neither verify the status of a trader nor request (or not always request) purchase confirmation documents, which highly contributes to motivation of an illegal trader to maintain e-activities unregistered, this way escaping revenue taxation.

 

Keywords: Consumer, E-trade, Economic, Electronic, Market, Technology