A social researcher with a keen interest in Economics which cut across micro, macro, international, monetary and welfare economics with over 10 years cognate experience.
The study investigated the determinants of academic performance of undergraduate students of dist... more The study investigated the determinants of academic performance of undergraduate students of distance learning centre, University of Ibadan, Oyo state, Nigeria. The methods used include descriptive statistics, cross tabulation, correlation analysis, ordinary least square (OLS) regression and probit regression.The result of ordinary least squareOLS regression showed that home factor, school factor, work factor and religion factor are the factors that determine the academic performance of University of Ibadan distance learning students but home factor, work factor and religion factor exert a positive significant impact on academic performance of University of Ibadan distance learning students (ß1 = 0.1473604, p = 0.078; ß3 = 0.1488303, p = 0.071 &ß4 = 0.2043724, p = 0.049) while school factorexert a negative significant impact on University of Ibadan distance learning students (ß2 =-0.192849, p = 0.095). Also, the probit regression result showed that home factor, work factor, religion factor, management factor, peers group factor and caregivers' factor are the factors that determine the academic performance of University of Ibadan distance learning students but work factor, religion factor, management factor and caregivers' factor exert a positive significant impact on academic performance of University of Ibadan distance learning students (ß3 = 2.0499, p = 0.000; ß4 = 1.1501, p = 0.012; ß5 = 0.5809, p = 0.000 &ß8 = 2.2194, p = 0.000) while home factor and peer group factor exert a negative significant impact on University of Ibadan distance learning students (ß1 =-1.6998, p = 0.000 &ß6 =-1.0382, p = 0.160).The study recommended that distance learning Centre (DLC) students should not allow their work to intervene with their academic performance. They should create time for both their work and their academic so that both will not affect each other. Students of DLC should not allow their religion to affect their performance in school. Since majority of students under the DLC programme are working class, the management should put this into consideration for their students to perform very well.
International Journal of Research and Innovation in Social Science (IJRISS), 2018
This study investigated the dynamic relationship between oil revenue, government spending and eco... more This study investigated the dynamic relationship between oil revenue, government spending and economic growth in Nigeria over the period 1980 to 2014. Econometric techniques which included correlation analysis, unit root test, co-integration, Granger causality and error correction model were employed to determine the direction of causality and the magnitude of impacts. The estimated coefficient of the error correction term, ECM(-1) which is also the speed of adjustment to equilibrium, was negative and statistically significant as required by the Granger representation theorem. The speed of adjustment to equilibrium required 46 per cent within a year when the variables drifted away from their equilibrium values. Also, the ECM result revealed that capital expenditure (CEXP); recurrent expenditure (REXP); oil revenue (OREV) and gross capital formation (GCF) drove economic growth positively at 5 per cent level of significance, respectively. This implied that a hundred percentage point increase in capital expenditure (CEXP); recurrent expenditure (REXP); oil revenue (OREV) and gross capital formation (GCF) caused a rise in growth of about 44 per cent; 97 per cent; 85 per cent and 29 per cent, respectively. Broad money supply (M 2) negatively affects economic growth and it is insignificant.
IMPACT OF COMMERCIAL BANK CREDIT ON AGRICULTURAL OUTPUT IN NIGERIA, 2019
The purpose of this study was to investigated the impact of commercial
bank credits on agricultur... more The purpose of this study was to investigated the impact of commercial bank credits on agricultural output in Nigeria over the period 1980 to 2015 by setting three specific objectives which are to examine the trend of commercial bank credit and agricultural output in Nigeria; to investigate the effect of commercial bank credit on agricultural output in Nigeria and to investigate the effect of commercial bank credit on subsector of agriculture in Nigeria. The trend analysis and the impact of commercial bank credit on subsector of agriculture in Nigeria make this work unique and different from other studies in this area. Trend analysis was used to achieve the first objective and fully modified ordinary least square (OLS) for objective two and three. The study employed Fully Modified Ordinary Least Squares (FMOLS) approach. It was evidenced that interest rate on commercial banks’ credit to agriculture and deposit money bank’s assets are statistically significant in determine agricultural output in Nigeria within the period considered. Also, commercial bank loan on agriculture and deposit money bank’s assets determine the output of crop production in Nigeria; commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of livestock production in Nigeria and commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of forestry in Nigeria while commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of fishing in Nigeria.
Asian Journal of Management, Engineering & Computer Sciences (AJMECS), 2019
This study investigated the determinant of foreign portfolio investment (FPI) in Nigeria over the... more This study investigated the determinant of foreign portfolio investment (FPI) in Nigeria over the period 1986 to 2015 by using autoregressive distributed lag (ARDL) approach. ARDL result showed that only six of the explanatory variables are statistical significant in the long-run which are exchange rate, population, interest rate, gross domestic product, domestic money supply and market capitalization. Exchange rate and population exert a positive significant relation with foreign portfolio investment in Nigeria while interest rate, gross domestic product, domestic money supply and market capitalization exert a negative significant relation with foreign portfolio investment in Nigeria in the long-run. While in the short-run, four variables are statistically significant which are population, interest rate, gross domestic product and market capitalization. Population exert a positive significant relation with foreign portfolio investment inflow in Nigeria while interest rate, gross domestic product and market capitalization exert a negative significant relation with foreign portfolio investment inflow in Nigeria. The R- squared value of 0.80244 showed that 80.24% of the dependent variable is explained by the independent variable, while the value of the R- Bar-squared of 0.68171 showed that 68.17% of the dependents variable is determined by the independent variable. Also, the F-statistic of 8.1235 [P<.05] implied that the overall model is significant. The study recommended that monetary authority should decrease interest rate in order to encourage more inflow of foreign portfolio investment. Also, the authority should reduce the inflation, encourage trade degree of openness which will cause an increase in foreign portfolio investment. Since depreciation of exchange rate lead to increase in foreign portfolio investment inflow in Nigeria, the policy maker should pursue exchange rate depreciation for more inflow of foreign portfolio investment.
The single most important issue confronting a growing number of world economies today is the pric... more The single most important issue confronting a growing number of world economies today is the price of oil and its attendant consequences on economic output. Therefore the study investigated the impact of petroleum pump price on human welfare in Nigeria over the period 1990 to 2015. The study employed expost facto research design. Secondary time series data were used for the study and these were sourced from World Development Indicator (WDI, 2015) and Central Bank of Nigeria statistical bulletin, (CBN, 2015). The data collected were analyzed using autoregressive distributed lag. The inferences were drown at 1% and 5% significance level. The result showed that premium motor spirit price and dual purpose kerosene price exert a long-run negative and significant impact on human welfare in Nigeria (β =-0.15299, t =-5.31141 and β =-0.471399, t =-1.8838 respectively) while premium motor spirit price, dual purpose kerosene price and inflation rate exert a short-run negative and significant impact on human welfare in Nigeria (β =-0.71735, t=-4.3766; β =-0.62562, t =-2.9188 and β =-0.050310, t =-2.1829 respectively). The study concluded that as premium motor spirit price and dual purpose kerosene price and inflation rate increases, human welfare will fall and vice versa. Therefore for human welfare to increase, there must be a fall in premium motor spirit price and dual purpose kerosene price and inflation rate in Nigeria. The study recommended that Government and it agencies should ensure that petroleum pump prices should be regulated because they have a long way on the market. An increase in the price of petroleum products will lead to market failure because most products use either of these products. Since inflation rate worsen the welfare of people, the policy maker should find a way of control inflation in the system so that the welfare of the people will improve (better-off).
The study investigated the challenges and prospects of commercial bank loan extended to farmers i... more The study investigated the challenges and prospects of commercial bank loan extended to farmers in Lagelu Local Government of Oyo state, Nigeria. The methods used include descriptive statistics, binomial logistic regression analysis with multinomial logit regression. The result of the binomial logistic regression revealed that the variables that determine farm output are age, household size, hired labour, marital status, number of loan applications, amount of loan collected, off-farm income and interest rate on loan. Also, the multinomial logit regression analysis revealed that the variables that determine cassava crop production are hired labour, number of loan application and amount of loan collected, amount of loan collect and off-farm income determine rice production in the study area, interest rate on loan was the only variable that determine potatoes production, household size, and farming experience are the only variables that determine the production of maize in the study area, while farm size determine the output of groundnut production in the study area. The study recommended that since loan is one of the avenues that farmers can increase their farming output which will product the growth of gross domestic product, government agency should instruct commercial banks to direct more loans to agricultural activities. Farmers should not give up in applying for loan because at the end of the day, they will be surely granted and interest rate on loans given to farmers by commercial banks should be lower in other to encourage them to borrow more.
Article History Keywords Firm size Firm's performance Panel analysis. JEL Classification: D20; D2... more Article History Keywords Firm size Firm's performance Panel analysis. JEL Classification: D20; D21; D22; D24. The study examined the impact of firm size on firm's performance in Nigeria: A comparative study of selected firms in the building industry in Nigeria using annual data from 2004 to 2017. The technique used in the research work was panel analysis. Based on the financial measurement of performance using both return on assets (ROA) and return on equity (ROE), two out of the four variables used as an indicators of size were statistically significant in determine return on assets which are total sales and age of firm since incorporated and total sale has positive effect on return on assets while age of firm since incorporated has a negative effect on return on assets. Furthermore, it was observed that only leverage that was significant in determine return on equity. Based on productivity measurement of performance of the selected firms in the building industry in Nigeria using both output per labour and output per capital, also two out of the four variables used as an indicators of size were statistically significant in determine output per labour which are total sales and age of firm since incorporated and both have positive effect output per labour and total number of employee and leverage has a negative significant impact on output per labour. Also, only age of firm since incorporated as a measure of size that was significant in determine output per capital out of the four measurement of size and liquidity ratio has a positive significant effect on output per capital. Contribution/ Originality: This study is one of very few studies which have investigated the impact of firm size on firm's performance in Nigeria from economics measurement of firm's performance. Performance indicators like return on asset (ROA) and return on equity (ROE) used by the past studies are accounting measurement but this study included economics measurement which are output per labour and output per capital to make this research work different from the existing literature. Also, total sales and total assets was used as proxies for measuring size but this study included two other variables which are number of employee and age of firm since incorporated.
International Journal of Health Economics and Policy, 2019
The study examined the determinants of crimes in Nigeria from economic and socioeconomic perspect... more The study examined the determinants of crimes in Nigeria from economic and socioeconomic perspectives: A macro-level analysis using a time series data covering the period of 1990 to 2014. Both economic and socioeconomic factors that determinant crime were included in the model. The economic factors include GDP per capita; male unemployment rate; female unemployment rate and poverty rate while the socioeconomic-demographic factors include higher education enrolment; urban population and rural population. The study embraces the autoregressive distributed lag (ARDL) model to empirically analyze the model since the variables were stationary at levels I(0) and first difference I(1). The empirical results in the long-run indicated that gross domestic product per capita and female unemployment rate was found to have a negative significant effect on crime rate in Nigeria while urban and rural population, male and female unemployment rate were found to have a positive significant effect on crime rate in Nigeria. Also, the results of the short-run indicated that gross domestic product per capita and higher education was found to have a negative significant effect on crime rate in Nigeria while urban population, male unemployment rate and poverty rate were found to have a positive significant effect on crime rate in Nigeria in the short-run. Therefore, for a country like Nigeria to reduce criminal activities in the country, there must be an increase in the income of the people. Also, government should invest more in education because it makes the people more rational and more risk averse and so it reduces the propensity to commit crimes. Therefore, higher education attainment will be the cure for criminal activities in Nigeria. Government should also create more jobs because high unemployment rates will compel people to commit crimes and this will increase crime rate in Nigeria. Lastly, there should be high budgetary provision towards poverty alleviation programme because higher poverty may lead to higher crimes rate due to depression or mental illness associated with being poor and this will decreases the rate of return of legal activities and more likely to increase return of illegal activities.
International Journal of Research and Innovation in Social Science (IJRISS), 2018
Excessive importation of goods and services has serious implications for macroeconomic stability ... more Excessive importation of goods and services has serious implications for macroeconomic stability through imported inflation. It can also engender balance of payments disequilibrium and impinge on the credit rating of a country. Excessive importation can also lead to a drain on foreign exchange reserves and further worsen the balance of payments position. Therefore the study investigated the determinants of import in Nigeria over the period 1980 to 2015. The study employed expost facto research design. Secondary time series data were used for the study and these were sourced from World Integrated Trade Solution (WITS, 2013) Database and World Development Indicator (WDI, 2016).The data collected were analyzed using autoregressive distributed lag. The inferences were drown at 5% significance level. The result showed that domestic income and index of openness exert a long-run positive and significant impact on import of goods and services in Nigeria (β = 0.91022, t = 124.4775 and β = 1.7443, t = 11.7163 respectively) but domestic interest rate exerts a long-run negative and significant impact on import of goods and services in Nigeria (β =-0.08934, t =-1.9822). While import prices, domestic income and index of openness exert a short-run positive and significant impact on import of goods and services in Nigeria (β = 0.036972, t = 2.1542; β = 0.64899, t = 8.0852 and β = 1.0345, t = 6.6297 respectively). The value of the coefficient of the dummy variable is appropriately signed and statistically significant, meaning that SAP achieved its cardinal objectives of significant reduction in import of goods and services in Nigeria through exchange rate depreciation. The study concluded that trade openness in the short-run discourages import while openness in the long run encourages import. Most of the good imported are inelastic in nature during the period selected and they are normal goods. The study recommended that recalibration of the naira since devaluation or depreciation of the domestic currency which was the main ingredient of SAP did not work and this will improve the competitiveness of exports. It will also help to improve Nigeria's trade balance with its trading partners by making imports of machineries and equipments less expensive.
International Journal of Research and Innovation in Social Science (IJRISS), 2018
The study examined the short-run and long-run determinant of foreign direct investment (FDI) in N... more The study examined the short-run and long-run determinant of foreign direct investment (FDI) in Nigeria using ARDL (bound test) approach (1980-2014). The variables used are foreign direct investment (FDI), gross domestic product per capita (GDPPP), broad money supply (M 2), trade (TRAD), inflation, consumer prices (INF), official exchange rate (EXCH), general government final consumption expenditure (GOVEEXP), school enrollment, secondary (EDU) and total electricity net consumption (ELECTCON). The data were sourced from the World Development Indicators (2015) between 1980 and 2014. The study implements ARDL model to investigate the existence of a long-run relation among the series and the dynamic model of the short-run effect. Apparently, the use of ARDL is of the submission that it can be applied irrespective of the order of integration of the variables (irrespective of whether regressors are purely [1(0)], purely [1(1)] or mutually co-integrated). The results of the study showed that there exist a long-run and short-run relationship among the variable and that the result of the long run ARDL model showed that in the long run, school enrollment (EDU), total electricity net consumption (ELECTCON), broad money (M 2) and trade (TRAD) stimulate foreign direct investment (FDI) in Nigeria while the result of the short-run dynamic model shows that in the short-run, school enrollment (EDU), total electricity net consumption (ELECTCON), exchange rate (EXCH), inflation (INF) and trade (TRAD)are significant in determine foreign direct investment (FDI) in Nigeria. The study recommended that the government should invest more in infrastructure (like electricity, education, transportation, telecommunication, etc) so as to enhance the competitiveness of the environment of investment and ultimately increase FDI inflows. Also, the monetary authority should control money supply, exchange rate, inflation rate as well as GDP in other to encourage FDI in Nigeria.
International Journal of Research - Granthaalayah, 2019
The study investigated the economic analysis of solid waste management of Ibadan metropolis,
Oyo ... more The study investigated the economic analysis of solid waste management of Ibadan metropolis, Oyo State: Evidences from value belief norm (VBN) and willingness-to-pay theory. The study distributed two hundred and fifty (250) to both household and contractors and two hundred questionnaires was distributed to household while fifty questionnaires for contractors. The methods used include descriptive statistic, cross tabulation, both ordinary least square (OLS) and logistic regression as well as gross margin and net income analysis. The OLS regression result revealed that income of the household, educational status, age and sex are the factors that determine the amount pay to Ibadan waste management per month in Ibadan metropolis while the factors that determine willingness-to-pay for environmental goods in Ibadan metropolis from logistic regression are income of the household, household size, educational status, occupation and sex and they are inelastic in nature. Furthermore, gross margin and net income from waste management business to the contractors sampled are N100,408.5299 and N86,852.20 per month respective. The study recommended that contractors in the study area can jointly establish recycle plants where they can recycle waste and make more income from the recycled products. Waste management contractors should be prompt in their service delivery. Also, every household should have solid waste facilities such as garbage bin and dustbin for easy disposal. Lastly, government should re-introduced the monthly sanitation in order to make a lot of household become more conscious of the purity of their surroundings.
The study investigated the appropriate threshold level of inflation for economic growth in Nigeri... more The study investigated the appropriate threshold level of inflation for economic growth in Nigeria: Evidence from error correction model (ECM) using annual time series data from 1980 to 2016. The result of the ECM revealed that out of the five explanatory variables used in the model, only three are statistically significant which are inflation rate, squared inflation rate and growth rate of gross capital formation but squared inflation rate has a negative significant effect on growth rate of gross domestic product while both inflation rate and gross capital formation has a positive significant effect on growth rate of gross domestic product and they can only explained about 51.8% of the total variations in the behaviour of growth rate of gross domestic product in Nigeria and there is no autocorrelation or serial correlation in the model. Also, the threshold result established that the maximum level of inflation which supports economic growth in Nigeria was 13.13% that is, the maximu...
International Journal of Research -GRANTHAALAYAH, 2019
The study investigated the economic analysis of solid waste management of Ibadan metropolis, Oyo ... more The study investigated the economic analysis of solid waste management of Ibadan metropolis, Oyo State: Evidences from value belief norm (VBN) and willingness-to-pay theory. The study distributed two hundred and fifty (250) to both household and contractors and two hundred questionnaires was distributed to household while fifty questionnaires for contractors. The methods used include descriptive statistic, cross tabulation, both ordinary least square (OLS) and logistic regression as well as gross margin and net income analysis. The OLS regression result revealed that income of the household, educational status, age and sex are the factors that determine the amount pay to Ibadan waste management per month in Ibadan metropolis while the factors that determine willingness-to-pay for environmental goods in Ibadan metropolis from logistic regression are income of the household, household size, educational status, occupation and sex and they are inelastic in nature. Furthermore, gross mar...
The study investigated the determinants of academic performance of undergraduate students of dist... more The study investigated the determinants of academic performance of undergraduate students of distance learning centre, University of Ibadan, Oyo state, Nigeria. The methods used include descriptive statistics, cross tabulation, correlation analysis, ordinary least square (OLS) regression and probit regression.The result of ordinary least squareOLS regression showed that home factor, school factor, work factor and religion factor are the factors that determine the academic performance of University of Ibadan distance learning students but home factor, work factor and religion factor exert a positive significant impact on academic performance of University of Ibadan distance learning students (ß1 = 0.1473604, p = 0.078; ß3 = 0.1488303, p = 0.071 &ß4 = 0.2043724, p = 0.049) while school factorexert a negative significant impact on University of Ibadan distance learning students (ß2 =-0.192849, p = 0.095). Also, the probit regression result showed that home factor, work factor, religion factor, management factor, peers group factor and caregivers' factor are the factors that determine the academic performance of University of Ibadan distance learning students but work factor, religion factor, management factor and caregivers' factor exert a positive significant impact on academic performance of University of Ibadan distance learning students (ß3 = 2.0499, p = 0.000; ß4 = 1.1501, p = 0.012; ß5 = 0.5809, p = 0.000 &ß8 = 2.2194, p = 0.000) while home factor and peer group factor exert a negative significant impact on University of Ibadan distance learning students (ß1 =-1.6998, p = 0.000 &ß6 =-1.0382, p = 0.160).The study recommended that distance learning Centre (DLC) students should not allow their work to intervene with their academic performance. They should create time for both their work and their academic so that both will not affect each other. Students of DLC should not allow their religion to affect their performance in school. Since majority of students under the DLC programme are working class, the management should put this into consideration for their students to perform very well.
International Journal of Research and Innovation in Social Science (IJRISS), 2018
This study investigated the dynamic relationship between oil revenue, government spending and eco... more This study investigated the dynamic relationship between oil revenue, government spending and economic growth in Nigeria over the period 1980 to 2014. Econometric techniques which included correlation analysis, unit root test, co-integration, Granger causality and error correction model were employed to determine the direction of causality and the magnitude of impacts. The estimated coefficient of the error correction term, ECM(-1) which is also the speed of adjustment to equilibrium, was negative and statistically significant as required by the Granger representation theorem. The speed of adjustment to equilibrium required 46 per cent within a year when the variables drifted away from their equilibrium values. Also, the ECM result revealed that capital expenditure (CEXP); recurrent expenditure (REXP); oil revenue (OREV) and gross capital formation (GCF) drove economic growth positively at 5 per cent level of significance, respectively. This implied that a hundred percentage point increase in capital expenditure (CEXP); recurrent expenditure (REXP); oil revenue (OREV) and gross capital formation (GCF) caused a rise in growth of about 44 per cent; 97 per cent; 85 per cent and 29 per cent, respectively. Broad money supply (M 2) negatively affects economic growth and it is insignificant.
IMPACT OF COMMERCIAL BANK CREDIT ON AGRICULTURAL OUTPUT IN NIGERIA, 2019
The purpose of this study was to investigated the impact of commercial
bank credits on agricultur... more The purpose of this study was to investigated the impact of commercial bank credits on agricultural output in Nigeria over the period 1980 to 2015 by setting three specific objectives which are to examine the trend of commercial bank credit and agricultural output in Nigeria; to investigate the effect of commercial bank credit on agricultural output in Nigeria and to investigate the effect of commercial bank credit on subsector of agriculture in Nigeria. The trend analysis and the impact of commercial bank credit on subsector of agriculture in Nigeria make this work unique and different from other studies in this area. Trend analysis was used to achieve the first objective and fully modified ordinary least square (OLS) for objective two and three. The study employed Fully Modified Ordinary Least Squares (FMOLS) approach. It was evidenced that interest rate on commercial banks’ credit to agriculture and deposit money bank’s assets are statistically significant in determine agricultural output in Nigeria within the period considered. Also, commercial bank loan on agriculture and deposit money bank’s assets determine the output of crop production in Nigeria; commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of livestock production in Nigeria and commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of forestry in Nigeria while commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of fishing in Nigeria.
Asian Journal of Management, Engineering & Computer Sciences (AJMECS), 2019
This study investigated the determinant of foreign portfolio investment (FPI) in Nigeria over the... more This study investigated the determinant of foreign portfolio investment (FPI) in Nigeria over the period 1986 to 2015 by using autoregressive distributed lag (ARDL) approach. ARDL result showed that only six of the explanatory variables are statistical significant in the long-run which are exchange rate, population, interest rate, gross domestic product, domestic money supply and market capitalization. Exchange rate and population exert a positive significant relation with foreign portfolio investment in Nigeria while interest rate, gross domestic product, domestic money supply and market capitalization exert a negative significant relation with foreign portfolio investment in Nigeria in the long-run. While in the short-run, four variables are statistically significant which are population, interest rate, gross domestic product and market capitalization. Population exert a positive significant relation with foreign portfolio investment inflow in Nigeria while interest rate, gross domestic product and market capitalization exert a negative significant relation with foreign portfolio investment inflow in Nigeria. The R- squared value of 0.80244 showed that 80.24% of the dependent variable is explained by the independent variable, while the value of the R- Bar-squared of 0.68171 showed that 68.17% of the dependents variable is determined by the independent variable. Also, the F-statistic of 8.1235 [P<.05] implied that the overall model is significant. The study recommended that monetary authority should decrease interest rate in order to encourage more inflow of foreign portfolio investment. Also, the authority should reduce the inflation, encourage trade degree of openness which will cause an increase in foreign portfolio investment. Since depreciation of exchange rate lead to increase in foreign portfolio investment inflow in Nigeria, the policy maker should pursue exchange rate depreciation for more inflow of foreign portfolio investment.
The single most important issue confronting a growing number of world economies today is the pric... more The single most important issue confronting a growing number of world economies today is the price of oil and its attendant consequences on economic output. Therefore the study investigated the impact of petroleum pump price on human welfare in Nigeria over the period 1990 to 2015. The study employed expost facto research design. Secondary time series data were used for the study and these were sourced from World Development Indicator (WDI, 2015) and Central Bank of Nigeria statistical bulletin, (CBN, 2015). The data collected were analyzed using autoregressive distributed lag. The inferences were drown at 1% and 5% significance level. The result showed that premium motor spirit price and dual purpose kerosene price exert a long-run negative and significant impact on human welfare in Nigeria (β =-0.15299, t =-5.31141 and β =-0.471399, t =-1.8838 respectively) while premium motor spirit price, dual purpose kerosene price and inflation rate exert a short-run negative and significant impact on human welfare in Nigeria (β =-0.71735, t=-4.3766; β =-0.62562, t =-2.9188 and β =-0.050310, t =-2.1829 respectively). The study concluded that as premium motor spirit price and dual purpose kerosene price and inflation rate increases, human welfare will fall and vice versa. Therefore for human welfare to increase, there must be a fall in premium motor spirit price and dual purpose kerosene price and inflation rate in Nigeria. The study recommended that Government and it agencies should ensure that petroleum pump prices should be regulated because they have a long way on the market. An increase in the price of petroleum products will lead to market failure because most products use either of these products. Since inflation rate worsen the welfare of people, the policy maker should find a way of control inflation in the system so that the welfare of the people will improve (better-off).
The study investigated the challenges and prospects of commercial bank loan extended to farmers i... more The study investigated the challenges and prospects of commercial bank loan extended to farmers in Lagelu Local Government of Oyo state, Nigeria. The methods used include descriptive statistics, binomial logistic regression analysis with multinomial logit regression. The result of the binomial logistic regression revealed that the variables that determine farm output are age, household size, hired labour, marital status, number of loan applications, amount of loan collected, off-farm income and interest rate on loan. Also, the multinomial logit regression analysis revealed that the variables that determine cassava crop production are hired labour, number of loan application and amount of loan collected, amount of loan collect and off-farm income determine rice production in the study area, interest rate on loan was the only variable that determine potatoes production, household size, and farming experience are the only variables that determine the production of maize in the study area, while farm size determine the output of groundnut production in the study area. The study recommended that since loan is one of the avenues that farmers can increase their farming output which will product the growth of gross domestic product, government agency should instruct commercial banks to direct more loans to agricultural activities. Farmers should not give up in applying for loan because at the end of the day, they will be surely granted and interest rate on loans given to farmers by commercial banks should be lower in other to encourage them to borrow more.
Article History Keywords Firm size Firm's performance Panel analysis. JEL Classification: D20; D2... more Article History Keywords Firm size Firm's performance Panel analysis. JEL Classification: D20; D21; D22; D24. The study examined the impact of firm size on firm's performance in Nigeria: A comparative study of selected firms in the building industry in Nigeria using annual data from 2004 to 2017. The technique used in the research work was panel analysis. Based on the financial measurement of performance using both return on assets (ROA) and return on equity (ROE), two out of the four variables used as an indicators of size were statistically significant in determine return on assets which are total sales and age of firm since incorporated and total sale has positive effect on return on assets while age of firm since incorporated has a negative effect on return on assets. Furthermore, it was observed that only leverage that was significant in determine return on equity. Based on productivity measurement of performance of the selected firms in the building industry in Nigeria using both output per labour and output per capital, also two out of the four variables used as an indicators of size were statistically significant in determine output per labour which are total sales and age of firm since incorporated and both have positive effect output per labour and total number of employee and leverage has a negative significant impact on output per labour. Also, only age of firm since incorporated as a measure of size that was significant in determine output per capital out of the four measurement of size and liquidity ratio has a positive significant effect on output per capital. Contribution/ Originality: This study is one of very few studies which have investigated the impact of firm size on firm's performance in Nigeria from economics measurement of firm's performance. Performance indicators like return on asset (ROA) and return on equity (ROE) used by the past studies are accounting measurement but this study included economics measurement which are output per labour and output per capital to make this research work different from the existing literature. Also, total sales and total assets was used as proxies for measuring size but this study included two other variables which are number of employee and age of firm since incorporated.
International Journal of Health Economics and Policy, 2019
The study examined the determinants of crimes in Nigeria from economic and socioeconomic perspect... more The study examined the determinants of crimes in Nigeria from economic and socioeconomic perspectives: A macro-level analysis using a time series data covering the period of 1990 to 2014. Both economic and socioeconomic factors that determinant crime were included in the model. The economic factors include GDP per capita; male unemployment rate; female unemployment rate and poverty rate while the socioeconomic-demographic factors include higher education enrolment; urban population and rural population. The study embraces the autoregressive distributed lag (ARDL) model to empirically analyze the model since the variables were stationary at levels I(0) and first difference I(1). The empirical results in the long-run indicated that gross domestic product per capita and female unemployment rate was found to have a negative significant effect on crime rate in Nigeria while urban and rural population, male and female unemployment rate were found to have a positive significant effect on crime rate in Nigeria. Also, the results of the short-run indicated that gross domestic product per capita and higher education was found to have a negative significant effect on crime rate in Nigeria while urban population, male unemployment rate and poverty rate were found to have a positive significant effect on crime rate in Nigeria in the short-run. Therefore, for a country like Nigeria to reduce criminal activities in the country, there must be an increase in the income of the people. Also, government should invest more in education because it makes the people more rational and more risk averse and so it reduces the propensity to commit crimes. Therefore, higher education attainment will be the cure for criminal activities in Nigeria. Government should also create more jobs because high unemployment rates will compel people to commit crimes and this will increase crime rate in Nigeria. Lastly, there should be high budgetary provision towards poverty alleviation programme because higher poverty may lead to higher crimes rate due to depression or mental illness associated with being poor and this will decreases the rate of return of legal activities and more likely to increase return of illegal activities.
International Journal of Research and Innovation in Social Science (IJRISS), 2018
Excessive importation of goods and services has serious implications for macroeconomic stability ... more Excessive importation of goods and services has serious implications for macroeconomic stability through imported inflation. It can also engender balance of payments disequilibrium and impinge on the credit rating of a country. Excessive importation can also lead to a drain on foreign exchange reserves and further worsen the balance of payments position. Therefore the study investigated the determinants of import in Nigeria over the period 1980 to 2015. The study employed expost facto research design. Secondary time series data were used for the study and these were sourced from World Integrated Trade Solution (WITS, 2013) Database and World Development Indicator (WDI, 2016).The data collected were analyzed using autoregressive distributed lag. The inferences were drown at 5% significance level. The result showed that domestic income and index of openness exert a long-run positive and significant impact on import of goods and services in Nigeria (β = 0.91022, t = 124.4775 and β = 1.7443, t = 11.7163 respectively) but domestic interest rate exerts a long-run negative and significant impact on import of goods and services in Nigeria (β =-0.08934, t =-1.9822). While import prices, domestic income and index of openness exert a short-run positive and significant impact on import of goods and services in Nigeria (β = 0.036972, t = 2.1542; β = 0.64899, t = 8.0852 and β = 1.0345, t = 6.6297 respectively). The value of the coefficient of the dummy variable is appropriately signed and statistically significant, meaning that SAP achieved its cardinal objectives of significant reduction in import of goods and services in Nigeria through exchange rate depreciation. The study concluded that trade openness in the short-run discourages import while openness in the long run encourages import. Most of the good imported are inelastic in nature during the period selected and they are normal goods. The study recommended that recalibration of the naira since devaluation or depreciation of the domestic currency which was the main ingredient of SAP did not work and this will improve the competitiveness of exports. It will also help to improve Nigeria's trade balance with its trading partners by making imports of machineries and equipments less expensive.
International Journal of Research and Innovation in Social Science (IJRISS), 2018
The study examined the short-run and long-run determinant of foreign direct investment (FDI) in N... more The study examined the short-run and long-run determinant of foreign direct investment (FDI) in Nigeria using ARDL (bound test) approach (1980-2014). The variables used are foreign direct investment (FDI), gross domestic product per capita (GDPPP), broad money supply (M 2), trade (TRAD), inflation, consumer prices (INF), official exchange rate (EXCH), general government final consumption expenditure (GOVEEXP), school enrollment, secondary (EDU) and total electricity net consumption (ELECTCON). The data were sourced from the World Development Indicators (2015) between 1980 and 2014. The study implements ARDL model to investigate the existence of a long-run relation among the series and the dynamic model of the short-run effect. Apparently, the use of ARDL is of the submission that it can be applied irrespective of the order of integration of the variables (irrespective of whether regressors are purely [1(0)], purely [1(1)] or mutually co-integrated). The results of the study showed that there exist a long-run and short-run relationship among the variable and that the result of the long run ARDL model showed that in the long run, school enrollment (EDU), total electricity net consumption (ELECTCON), broad money (M 2) and trade (TRAD) stimulate foreign direct investment (FDI) in Nigeria while the result of the short-run dynamic model shows that in the short-run, school enrollment (EDU), total electricity net consumption (ELECTCON), exchange rate (EXCH), inflation (INF) and trade (TRAD)are significant in determine foreign direct investment (FDI) in Nigeria. The study recommended that the government should invest more in infrastructure (like electricity, education, transportation, telecommunication, etc) so as to enhance the competitiveness of the environment of investment and ultimately increase FDI inflows. Also, the monetary authority should control money supply, exchange rate, inflation rate as well as GDP in other to encourage FDI in Nigeria.
International Journal of Research - Granthaalayah, 2019
The study investigated the economic analysis of solid waste management of Ibadan metropolis,
Oyo ... more The study investigated the economic analysis of solid waste management of Ibadan metropolis, Oyo State: Evidences from value belief norm (VBN) and willingness-to-pay theory. The study distributed two hundred and fifty (250) to both household and contractors and two hundred questionnaires was distributed to household while fifty questionnaires for contractors. The methods used include descriptive statistic, cross tabulation, both ordinary least square (OLS) and logistic regression as well as gross margin and net income analysis. The OLS regression result revealed that income of the household, educational status, age and sex are the factors that determine the amount pay to Ibadan waste management per month in Ibadan metropolis while the factors that determine willingness-to-pay for environmental goods in Ibadan metropolis from logistic regression are income of the household, household size, educational status, occupation and sex and they are inelastic in nature. Furthermore, gross margin and net income from waste management business to the contractors sampled are N100,408.5299 and N86,852.20 per month respective. The study recommended that contractors in the study area can jointly establish recycle plants where they can recycle waste and make more income from the recycled products. Waste management contractors should be prompt in their service delivery. Also, every household should have solid waste facilities such as garbage bin and dustbin for easy disposal. Lastly, government should re-introduced the monthly sanitation in order to make a lot of household become more conscious of the purity of their surroundings.
The study investigated the appropriate threshold level of inflation for economic growth in Nigeri... more The study investigated the appropriate threshold level of inflation for economic growth in Nigeria: Evidence from error correction model (ECM) using annual time series data from 1980 to 2016. The result of the ECM revealed that out of the five explanatory variables used in the model, only three are statistically significant which are inflation rate, squared inflation rate and growth rate of gross capital formation but squared inflation rate has a negative significant effect on growth rate of gross domestic product while both inflation rate and gross capital formation has a positive significant effect on growth rate of gross domestic product and they can only explained about 51.8% of the total variations in the behaviour of growth rate of gross domestic product in Nigeria and there is no autocorrelation or serial correlation in the model. Also, the threshold result established that the maximum level of inflation which supports economic growth in Nigeria was 13.13% that is, the maximu...
International Journal of Research -GRANTHAALAYAH, 2019
The study investigated the economic analysis of solid waste management of Ibadan metropolis, Oyo ... more The study investigated the economic analysis of solid waste management of Ibadan metropolis, Oyo State: Evidences from value belief norm (VBN) and willingness-to-pay theory. The study distributed two hundred and fifty (250) to both household and contractors and two hundred questionnaires was distributed to household while fifty questionnaires for contractors. The methods used include descriptive statistic, cross tabulation, both ordinary least square (OLS) and logistic regression as well as gross margin and net income analysis. The OLS regression result revealed that income of the household, educational status, age and sex are the factors that determine the amount pay to Ibadan waste management per month in Ibadan metropolis while the factors that determine willingness-to-pay for environmental goods in Ibadan metropolis from logistic regression are income of the household, household size, educational status, occupation and sex and they are inelastic in nature. Furthermore, gross mar...
The single most important issue confronting a growing number of world economies today is the pric... more The single most important issue confronting a growing number of world economies today is the price of oil and its attendant consequences on economic output. Therefore the study investigated the impact of petroleum pump price on human welfare in Nigeria over the period 1990 to 2015. The study employed expost facto research design. Secondary time series data were used for the study and these were sourced from World Development Indicator (WDI, 2015) and Central Bank of Nigeria statistical bulletin, (CBN, 2015). The data collected were analyzed using autoregressive distributed lag. The inferences were drown at 1% and 5% significance level. The result showed that premium motor spirit price and dual purpose kerosene price exert a long-run negative and significant impact on human welfare in Nigeria (β = -0.15299, t = -5.31141 and β = -0.471399, t = -1.8838 respectively) while premium motor spirit price, dual purpose kerosene price and inflation rate exert a short-run negative and significa...
Purpose. The purpose of this study was to investigated the impact of commercial bank credits on a... more Purpose. The purpose of this study was to investigated the impact of commercial bank credits on agricultural output in Nigeria over the period 1980 to 2015 by setting three specific objectives which are to examine the trend of commercial bank credit and agricultural output in Nigeria; to investigate the effect of commercial bank credit on agricultural output in Nigeria and to investigate the effect of commercial bank credit on subsector of agriculture in Nigeria. The trend analysis and the impact of commercial bank credit on subsector of agriculture in Nigeria make this work unique and different from other studies in this area. Trend analysis was used to achieve the first objective and fully modified ordinary least square (OLS) for objective two and three. Methodology. The study employed Fully Modified Ordinary Least Squares (FMOLS) approach. Findings. It was evidenced that interest rate on commercial banks’ credit to agriculture and deposit money bank’s assets are statistically sig...
Environmental science and pollution research international, Jan 23, 2017
Pollution haven hypothesis (PHH), which is defined as foreign direct investment inducing a raisin... more Pollution haven hypothesis (PHH), which is defined as foreign direct investment inducing a raising impact on the pollution level in the hosting country, is lately a subject of discussion in the field of economics. This study, within the scope of related discussion, aims to look into the potential impact of foreign direct investments on CO2 emission in Turkey in 1974-2013 period using environmental Kuznets curve (EKC) model. For this purpose, Maki (Econ Model 29(5):2011-2015, 2012) structural break cointegration test, Stock and Watson (Econometrica 61:783-820, 1993) dynamic ordinary least square estimator (DOLS), and Hacker and Hatemi-J (J Econ Stud 39(2):144-160, 2012) bootstrap test for causality method are used. Research results indicate the existence of a long-term balance relationship between FDI, economic growth, energy usage, and CO2 emission. As per this relationship, in Turkey, (1) the potential impact of FDI on CO2 emission is positive. This result shows that PHH is valid i...
Scholedge International Journal of Management & Development, 2019
The paper investigated the trade-led growth hypothesis or growth-led trade hypothesis in WAMZ cou... more The paper investigated the trade-led growth hypothesis or growth-led trade hypothesis in WAMZ countries (Nigeria, Gambia, Ghana, Guinea, Liberia and Sierra Leone). Individual country and cross-sectional analysis were done and for the individual country analysis, FMOLS, DOLS, and CCR were considered with Granger causality. The estimated results confirmed the import-led growth hypothesis for Nigeria, Guinea, and Liberia, a trade-led growth hypothesis for the Gambia and Sierra Loan and export-led growth was supported for Ghana. For cross country analysis, FMOLS, DOLS and Granger causality tests were used and trade-led growth hypothesis (both export-led and import-led growth) was valid in WAMZ countries but imports were the most significant variable that influences economic growth than exports. The paper recommended that export promotion policy in WAMZ should focus on manufacturing exports and import substitution policy in WAMZ should focus on importing raw-material and technology for m...
The study investigated the determinants of academic performance of undergraduate students of dist... more The study investigated the determinants of academic performance of undergraduate students of distance learning centre, University of Ibadan, Oyo state, Nigeria. The methods used include descriptive statistics, cross tabulation, correlation analysis, ordinary least square (OLS) regression and probit regression.The result of ordinary least squareOLS regression showed that home factor, school factor, work factor and religion factor are the factors that determine the academic performance of University of Ibadan distance learning students but home factor, work factor and religion factor exert a positive significant impact on academic performance of University of Ibadan distance learning students (s1 = 0.1473604, p = 0.078; s3 = 0.1488303, p = 0.071 s s4 = 1.1501, p = 0.012; s5 = 0.5809, p = 0.000 &s8 = 2.2194, p = 0.000) while home factor and peer group factor exert a negative significant impact on University of Ibadan distance learning students (s1 = -1.6998, p = 0.000 &s6 = -1.0382, p ...
Izvestiya Journal of the University of Economics – Varna
The study investigated the impact of labour force participation rate and its implications on food... more The study investigated the impact of labour force participation rate and its implications on food security, fertility rate and economic growth in the West African Monetary Zone (WAMZ). Using data from 6 countries over the period of 1990 tо 2016 and pool autoregressive dіstrіbutеd lаg (PАRDL) bоunds tеstіng рrосеdurе was employed. The result from the study showed that female labour force participation and health expenditure per capita determine food security and male labour force participation, female labour force participation, gross capita formation, health education per capita and enrolment in secondary education are the variables that determine fertility rate, while male labour force participation, female labour force participation, health expenditure per capita and enrolment in secondary education affect GDP per capita. The study recommended that policies should be directed toward increasing female labour force participation which will compliment male labour force participation ...
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bank credits on agricultural output in Nigeria over the period 1980 to 2015 by setting three specific objectives which are to examine the trend of commercial bank credit and agricultural output in Nigeria; to investigate the effect of commercial bank credit on agricultural output
in Nigeria and to investigate the effect of commercial bank credit on subsector of agriculture in Nigeria. The trend analysis and the impact of commercial bank credit on subsector of agriculture in Nigeria make this work unique and different from other studies in this area. Trend analysis was used to achieve the first objective and fully modified ordinary least
square (OLS) for objective two and three. The study employed Fully Modified Ordinary Least Squares (FMOLS) approach. It was evidenced that interest rate on commercial banks’ credit to agriculture and deposit money bank’s assets are statistically significant in determine agricultural
output in Nigeria within the period considered. Also, commercial bank loan on agriculture and deposit money bank’s assets determine the output of crop production in Nigeria; commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture
determine the output of livestock production in Nigeria and commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of forestry in Nigeria while commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of fishing in Nigeria.
period 1986 to 2015 by using autoregressive distributed lag (ARDL) approach. ARDL result showed
that only six of the explanatory variables are statistical significant in the long-run which are
exchange rate, population, interest rate, gross domestic product, domestic money supply and market
capitalization. Exchange rate and population exert a positive significant relation with foreign
portfolio investment in Nigeria while interest rate, gross domestic product, domestic money supply
and market capitalization exert a negative significant relation with foreign portfolio investment in
Nigeria in the long-run. While in the short-run, four variables are statistically significant which are
population, interest rate, gross domestic product and market capitalization. Population exert a
positive significant relation with foreign portfolio investment inflow in Nigeria while interest rate,
gross domestic product and market capitalization exert a negative significant relation with foreign
portfolio investment inflow in Nigeria. The R- squared value of 0.80244 showed that 80.24% of the
dependent variable is explained by the independent variable, while the value of the R- Bar-squared
of 0.68171 showed that 68.17% of the dependents variable is determined by the independent
variable. Also, the F-statistic of 8.1235 [P<.05] implied that the overall model is significant. The
study recommended that monetary authority should decrease interest rate in order to encourage
more inflow of foreign portfolio investment. Also, the authority should reduce the inflation,
encourage trade degree of openness which will cause an increase in foreign portfolio investment.
Since depreciation of exchange rate lead to increase in foreign portfolio investment inflow in
Nigeria, the policy maker should pursue exchange rate depreciation for more inflow of foreign
portfolio investment.
Oyo State: Evidences from value belief norm (VBN) and willingness-to-pay theory. The study
distributed two hundred and fifty (250) to both household and contractors and two hundred
questionnaires was distributed to household while fifty questionnaires for contractors. The
methods used include descriptive statistic, cross tabulation, both ordinary least square (OLS) and
logistic regression as well as gross margin and net income analysis. The OLS regression result
revealed that income of the household, educational status, age and sex are the factors that
determine the amount pay to Ibadan waste management per month in Ibadan metropolis while the
factors that determine willingness-to-pay for environmental goods in Ibadan metropolis from
logistic regression are income of the household, household size, educational status, occupation and
sex and they are inelastic in nature. Furthermore, gross margin and net income from waste
management business to the contractors sampled are N100,408.5299 and N86,852.20 per month
respective. The study recommended that contractors in the study area can jointly establish recycle
plants where they can recycle waste and make more income from the recycled products. Waste
management contractors should be prompt in their service delivery. Also, every household should
have solid waste facilities such as garbage bin and dustbin for easy disposal. Lastly, government
should re-introduced the monthly sanitation in order to make a lot of household become more
conscious of the purity of their surroundings.
bank credits on agricultural output in Nigeria over the period 1980 to 2015 by setting three specific objectives which are to examine the trend of commercial bank credit and agricultural output in Nigeria; to investigate the effect of commercial bank credit on agricultural output
in Nigeria and to investigate the effect of commercial bank credit on subsector of agriculture in Nigeria. The trend analysis and the impact of commercial bank credit on subsector of agriculture in Nigeria make this work unique and different from other studies in this area. Trend analysis was used to achieve the first objective and fully modified ordinary least
square (OLS) for objective two and three. The study employed Fully Modified Ordinary Least Squares (FMOLS) approach. It was evidenced that interest rate on commercial banks’ credit to agriculture and deposit money bank’s assets are statistically significant in determine agricultural
output in Nigeria within the period considered. Also, commercial bank loan on agriculture and deposit money bank’s assets determine the output of crop production in Nigeria; commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture
determine the output of livestock production in Nigeria and commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of forestry in Nigeria while commercial bank loan on agriculture and interest rate on commercial banks’ credit to agriculture determine the output of fishing in Nigeria.
period 1986 to 2015 by using autoregressive distributed lag (ARDL) approach. ARDL result showed
that only six of the explanatory variables are statistical significant in the long-run which are
exchange rate, population, interest rate, gross domestic product, domestic money supply and market
capitalization. Exchange rate and population exert a positive significant relation with foreign
portfolio investment in Nigeria while interest rate, gross domestic product, domestic money supply
and market capitalization exert a negative significant relation with foreign portfolio investment in
Nigeria in the long-run. While in the short-run, four variables are statistically significant which are
population, interest rate, gross domestic product and market capitalization. Population exert a
positive significant relation with foreign portfolio investment inflow in Nigeria while interest rate,
gross domestic product and market capitalization exert a negative significant relation with foreign
portfolio investment inflow in Nigeria. The R- squared value of 0.80244 showed that 80.24% of the
dependent variable is explained by the independent variable, while the value of the R- Bar-squared
of 0.68171 showed that 68.17% of the dependents variable is determined by the independent
variable. Also, the F-statistic of 8.1235 [P<.05] implied that the overall model is significant. The
study recommended that monetary authority should decrease interest rate in order to encourage
more inflow of foreign portfolio investment. Also, the authority should reduce the inflation,
encourage trade degree of openness which will cause an increase in foreign portfolio investment.
Since depreciation of exchange rate lead to increase in foreign portfolio investment inflow in
Nigeria, the policy maker should pursue exchange rate depreciation for more inflow of foreign
portfolio investment.
Oyo State: Evidences from value belief norm (VBN) and willingness-to-pay theory. The study
distributed two hundred and fifty (250) to both household and contractors and two hundred
questionnaires was distributed to household while fifty questionnaires for contractors. The
methods used include descriptive statistic, cross tabulation, both ordinary least square (OLS) and
logistic regression as well as gross margin and net income analysis. The OLS regression result
revealed that income of the household, educational status, age and sex are the factors that
determine the amount pay to Ibadan waste management per month in Ibadan metropolis while the
factors that determine willingness-to-pay for environmental goods in Ibadan metropolis from
logistic regression are income of the household, household size, educational status, occupation and
sex and they are inelastic in nature. Furthermore, gross margin and net income from waste
management business to the contractors sampled are N100,408.5299 and N86,852.20 per month
respective. The study recommended that contractors in the study area can jointly establish recycle
plants where they can recycle waste and make more income from the recycled products. Waste
management contractors should be prompt in their service delivery. Also, every household should
have solid waste facilities such as garbage bin and dustbin for easy disposal. Lastly, government
should re-introduced the monthly sanitation in order to make a lot of household become more
conscious of the purity of their surroundings.