The article investigates on the beneficial effects of natural resource endowments on economic growth in a sample of 37 African countries. Contrary to previous studies in this area, the work focused on the premise that, the different resource status of countries in the region have a significant impact on the nature of the results obtained in any study, when considering the relationship between natural resource and economic growth in sub Saharan Africa. In this regard, Sub-Saharan Africa is split into resource rich and resource poor countries. Using the Generalized Method of Moment, Panel data from the period, 1996-2018 in resource poor, as well as in resource rich countries is analysed. The major findings are as follows: (i) Natural resource endowment is seen to have a positive and significant effect on economic growth for resource rich countries; in resource poor countries, the effects of natural resource endowment on economic growth remains positive but insignificant (ii) However, other variables, such as institutional quality variables, might mitigate that effect in various ways.
Indigenous Capital Formation Institutions among the Igbo: Factors for Change, 1914 2014. (Published)
For some time now, there has been a growing concern on how the ordinary man and woman in the town and rural communities of Africa can raise capital to start some micro-business and, thus, reduce poverty, and improve his or her standard of living. Within the period covered by this paper, successive governments and financial institutions have tried to address this challenge with little or no success. However, specifically for capital formation among the Igbo of southeast Nigeria, there exist traditional institutions through which the people raised resources to attend to their community and individual needs. These include, among others, Contribution Clubs, Family and Extended Family Pools, Age Grade Associations, Title Taking/Societies, Pawning, Inheritance, Land/Economic Trees Pledging, Imachi Nkwu and other Fruit Trees, Ilu – Elulu (Keeping Custody of Domestic Animal) and Ili – Ichi (Burial of Umbilical Cord). Consequently, this paper surveys those aspects of the traditional economic institutions that have become changed, transformed, or modified. Both internal and external forces have affected the traditional institutions for capital formation among the Igbo of southeast Nigeria, mostly by the later. This has caused the indigenous finance institutions to become altered from their original states. The paper concludes that in spite of the changes and modifications that had occurred overtime, the indigenous finance institutions have continued to exist. The descriptive and analytical methods were adopted in writing this paper. The period covered is 1914 to 2014.
Evaluation of Internal Control System on the Performance of Cooperative Societies in Selected Tertiary Institutions in Ondo State, Nigeria (Published)
The study assessed the internal control systems on performance of cooperative societies in some selected tertiary institutions in Ondo States, Nigeria. A stratified sampling technique was adopted for the study. The data were collected from members of registered cooperative societies in the selected tertiary institutions in the study area using structured questionnaire. The statistical tools used include de, Likert ratings, regression analysis and paired sample t-test. Results revealed that the selected cooperative societies often use all the key internal control measures which influence their performance, which include authorization measure (p = 0.027), arithmetic and accounting measures (p = 0.000), as well as budgetary measures (p = 0.001. The study recommended that cooperative societies in the tertiary institutions should strengthen their internal controls to ensure good performance
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.
Curriculum Development and Student Training: A Shared Responsibility between Clothing and Textile Institutions and Their Industry (Published)
The focus of the study was to look into the phenomenon of collaboration between clothing and textiles institutions and the industry regarding curriculum development and student training from the perspectives of respondents. Again the study was to find out if efforts to establish collaboration between clothing and textile institutions and the industry are based on theories/models or standardized practices. Purposive sampling technique was used for the study. Data for the study was collected using interview with semi-structured interview guide and observation. The sample size for this qualitative study was twenty-two (22) made up of two categories of respondent. It was made up of respondents from both the academia and industry. The outcome of the study showed these: It was realized that, as far as student training is concerned, respondents considered industrial attachment as the main and beneficial means of collaboration between the clothing and textiles institutions and the industry. Current efforts to establish collaboration between the two bodies around student training are not guided by standard practices or models. Implications of the outcome of the study as well recommendations for action are provided
Manager’s Perception of What Constitutes Good Management Which Should Enhance Productivity in Institutions of Higher Learning (Published)
Perceptions inform the way people behave and how they see their environment, thus the perceptions are the realities of the perceiver. Managers themselves are appointed based on the perceptions of the selection and recruiting team, either through an interview or simply through long association in an organisation. But, every human being moves around with their own baggage emanating from childhood, cultural background, religion, interaction with other people, the level of education and what was taught them, and of cause from peers and role models. The manager, like any being is a mixed bag of all sorts of information, ideas, values, beliefs and traits all culminating into the perception the manager will have about what constitutes good management. This empirical research sought to understand how the average Cape Town manager perceives managerial behaviours are considered to be ideal to enable the subordinates to be productive. Primarily to establish their perceptions about what constitutes good management behaviour. This research seeks to evaluate good management in the eyes of the manager – more like self-evaluation by evaluating the other manager. It should be pointed out that South Africa just recently emerged from apartheid and not much has changed within the organisational and racial structures in relation to “who the managers are.” The work environment is very diverse with whites (dominating) and coloureds (as second class citizens) with blacks at the tail end. To add to this, there has been an influx of foreigners as economic refuges whose perceptions about work and the environment are radically different. The research finds that many managers use the X theory though there are elements of the Y theory displayed. The Cape Town manager does not show much interest in the welfare of the subordinates and has no interest in getting closer to these subordinates.
Determinants Of Financial Development in Southern Africa Development Community (SADC): Do Institutions Matter? (Published)
The study used annual panel data (1996-2010) for 11 SADC countries to establish the determinants of credit to private sector and financial development. The contribution made by institutional quality is investigated using both the fixed effects and dynamic model based on GMM estimations. Financial development was significantly and positively influenced by credit to the public sector, per capita gross domestic product, gross fixed capital formation, financial openness, interest rates and institutional factors while savings and government debt have a negative influence. Financial development is enhanced by keeping corruption at low levels, increasing government accountability, improving regulation quality, maintaining rule of law and low levels of political violence. Thus institutional quality should be enhanced to complement the levels of financial development which in turn boosts economic growth. More private-public sector partnerships are preferable to enhance financial development and monetary policy initiatives like favorable credit rationing policies play a key role in developing financial markets.
Private and public higher education institutions have had the problem of financial un-sustainability in recent years. United Kingdom and European Union have instituted programs to work on financial sustainability of higher education as reported by Browne et al. (2010) and the Organization for Economic Co-operation and Development (2004). To achieve financial sustainability of higher education, institution needs to increase its internally-generated income or funds, which needs to be flowing on a regular basis for its operation, without compromising the future of its sustainability. This paper is to establish legitimacy for future work needed for the variables to pursue further research. Quantitative research study was research design and instrument of higher educational institutions across the globe. Results have opened opportunity for discussion on financial sustainability in higher educational institutions. The study explored theories behind financial sustainability and establishes possible correlation between the public relations that is sustaining the financing of higher education institutions. The outcome have help develop variable for predictive model in the development of financial sustainability for higher educational institutions.
This study identifies those to be involved in managing Nigerian tertiary educational institutions for national security. The significance is to enhance effective and efficient tertiary educational policy formulation, planning and implementation as well as global recognition and association. Document analysis, related literature review, research questions, hypotheses, validated and reliability-tested self-constructed questionnaire and visits were used. Of the 284 tertiary educational institutions in Nigeria, 10.21% thereof was randomly selected to evenly cover the six-geopolitical zones and the FCT-Abuja. The study identified nine groups of individuals to be involved in managing tertiary educational institutions for national security and found out that there is no significant difference between staff and students on the findings. It concludes that the identification is very necessary for tertiary educational goals achievement and national security hence, recommends their involvement in managing and security issues