http://jearecons.com/index.php/jearecons/issue/feedJOURNAL OF ECONOMICS AND ALLIED RESEARCH2023-01-02T13:19:29+00:00Journal of Economics and Allied Researchjeareconunn@gmail.comOpen Journal Systemshttp://jearecons.com/index.php/jearecons/article/view/236ISSUE COVER PAGE2023-01-01T08:24:24+00:00admin adminadmin@jearecons.com<p>coverpage</p>2022-09-27T00:00:00+00:00Copyright (c) 2023 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/237TABLE OF CONTENT2023-01-01T08:34:15+00:00admin adminadmin@jearecons.com<p>Table of Content</p>2022-09-27T00:00:00+00:00Copyright (c) 2023 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/231 MONETARY POLICY IMPACT ON PRIVATE SECTOR PERFORMANCE IN NIGERIA2023-01-01T07:53:20+00:00ABDULLAHI KABIRakabir604@gmail.com<p>This paper investigates the monetary policy impact on private sector performance in Nigeria. The study applies Autoregressive Distributive Lag (ARDL) method. The ARDL Bounds test shows that a long-run relationship exists among the variables. The ADF and PP Unit Root tests on the variables show that all the variables are I(1) process, with exception of real exchange rate which is I(0) process. The study uses annual time-series data from 1981-2021 on four variables – credit to private sector as a percentage of economic growth, broad money supply, real interest rate and real exchange rage. The result shows that the broad money supply has a significant positive impact on the private sector performance both in the short run and long run. The real interest rate and real exchange rate have a significant negative impact on private sector performance both in the short run and long run. The study recommends that the government should maintain the expansionary monetary policy that allows for the injection of optimal money supply into the system. The interest rate should be reduced to allow for the flow of more financial resources from the financial sector to the private sector, thereby promoting the private sector performance. The government should halt its continued devaluation policy and embrace more diversification commitments to bridge the forex scarcity, thereby improving the value of the Naira against the value of other currencies. Finally, the study concludes that monetary policy impact improves the private sector performance since money supply is the core determinant of monetary policy.</p>2022-09-27T00:00:00+00:00Copyright (c) 2023 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/232TECHNICAL AND ECONOMIC EFFICIENCY OF CHEMICAL AND PHARMACEUTICAL INDUSTRY IN NIGERIA2023-01-01T07:55:39+00:00HUSSAIN KEHINDE OGUNBADEJOogunbadejohk@yahoo.comAISHA ARAMA ZUBAIRaramaaisha@gmail.com<p>In this study, the technical efficiency of the Chemical and Pharmaceutical manufacturing firms in Nigeria was estimated by using a stochastic frontier production function, incorporating the technical inefficiency effect model. The translog frontier model was found to be an adequate representation of the data, given the specification of the corresponding Cobb Douglas production function. The technical inefficiency effects were found present and contained a significant random element. Results from the translog regression showed a sigma square (σ<sup>2</sup>) of 1.975 which was statistically significant at 1 percent. The technical efficiency scores in the Chemical and Pharmaceuticals sector ranged from 0.012 to 0.82 with a mean of 0.488. The individual impacts of some of the variables in the inefficiency effect model were significant, also the combined influence of all the five variables was significant in reducing the inefficiency of the Chemical and Pharmaceutical manufacturing firms in Nigeria. The results also indicated that the industries were operating at increasing returns to scale. Amongst others, utilisation of enhanced inputs and improved technology by manufacturing firms was recommended, to enable the firms to attain the optimal production frontier.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/233INVESTMENT-SAVINGS GAP AND PUBLIC DEBT SUSTAINABILITY IN NIGERIA2023-01-01T08:02:27+00:00KAMO KPEYOLkpeyolk@yahoo.comJEROME ANDOHOLtorsaa2002@yahoo.comGBATSORON ANJANDEganjande@yahoo.com<p>This study evaluates the transmission mechanism from investment-savings gap to public debt sustainability through revenue channel in Nigeria using annual data from 1970 to 2021. The theoretical foundation of the paper is rooted in the two gap model. The procedure involves impulse response functions and variance decomposition analyses which have been used to summarise/interpret the Structural Vector Autoregressive model used for estimation. Empirical evidence suggests that negative shocks to investment-savings gap will cause an increase in revenue which will in turn impact public debt sustainability negatively. The researchers conclude that the positive effect of investment-savings gap on revenue is not communicated to public debt sustainability. The recommendations include blocking of revenue leakages through elimination of corruption. Secondly, implementation of an appropriate mix of tax and income policies should be pursued to generate more savings for investment and hence more revenue to address the debt problem.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/234N-POWER PROGRAMMES AND POVERTY REDUCTION IN NIGERIA: ENUGU STATE EXPERIENCE 2023-01-01T08:07:01+00:00FRANCISCA N ONAHfrancisca.onah@unn.edu.ngCHRISTOPHER ONYEMAECHI UGWUIBEonyemaechi.ugwuibe@unn.edu.ng<p>The National Bureau of Statistics 2016 reported that about 67 percent of Nigerian population was living below the international poverty line on less than US$1.90 a day. This ugly development necessitated the Federal Government of Nigeria, in the year 2016, to come up with several social intervention policies and programmes. Prominent among these programmes are the N-power programmes, the Conditional Cash Transfer, Government Enterprise and Empowerment Programme and Home Grown School Feeding Programme. The objective of this study is to assess the implementation of N-Power programmes in Enugu State from 2016 to 2020. The study adopted survey research design. The study was anchored on the Elite theory. Findings include that N-Power programmes were poorly implemented in Enugu State. Furthermore, that N-Power programmes have no significant impact on the reduction of poverty among the youths in Enugu State. The study recommended among others that federal government should review the structure and strategies of N-power programmes in Nigeria, to make it more implementable and inclusive.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/235MARKET ANALYSIS OF ANTI-MEASLES MEDICINAL PLANT PRODUCTS IN ONDO STATE, NIGERIA2023-01-01T08:14:10+00:00GRACE OLUWABUKUNMI AKINSOLAakinsola.go@unilorin.edu.ngMATHEW OLANIYI ADEWUMImoadewumi@gmail.comABRAHAM FALOLAfalolaabraham@yahoo.comGABRIEL KOLAWOLEkolawoleolamidotun@gmail.com<p>This study analyses the marketing structure, concentration and efficiency of anti-measles medicinal plants. The study was conducted in Ondo State in Southwestern Nigeria. The targeted population for the study was the anti-measles medicinal herbs sellers. A three-stage random sampling technique was used to sample 120 marketers. Descriptive statistics, Concentration ratio (CR) analysis, Gini coefficient, Lorenz curve, marketing margin, and efficiency were the analytical tools employed for the study. The study shows that the majority of medicinal plant sellers were female (95%) with an average age of 48 years and were married (61.67%). About 53% had no formal education. The average year of market experience was 14 years and they are mostly traditional health practitioners (50.98%). It was found that the CR for the sellers was 26.02% and the estimated Gini coefficient was 0.486. The market margin per unit was ₦49.09 and the net market margin was ₦19.18. The efficiency of marketing was estimated at 61.22%. Since the market is efficient, anti-measles plants marketers should therefore adopt strategies to meet up with the international market standard. Government policies should also be directed towards improving indigenous markets by providing market facilities to reduce costs and improve their profit.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/238IMPACT OF COMMERCIAL AGRICULTURE CREDIT SCHEME ON TECHNICAL EFFICIENCY OF RICE FARMING IN KANO STATE, NIGERIA2023-01-01T14:23:19+00:00YERIMA EMMANUEL GYONGgyong_emmanuel@yahoo.co.ukMIKE CHIBUNDU DURUmik2duru@yahoo.comPETER PIDVIGA NJIFORTInjifortica@yahoo.comSALAMATU IDRIS ISAHsisah71@yahoo.com<p>The purpose of this study is to empirically evaluate the effect of commercial agriculture credit scheme on technical efficiency of rice farming in Kano State, Nigeria. Primary data was sourced from 394 beneficiary farmers of commercial agriculture credit scheme (CACS) through survey method in the period 2009–2020. Multi-stage sampling technique was used for the study across the existing agricultural zones. The study employed the stochastic frontier model. The model specified was estimated by likelihood estimates of stochastic frontier production function and inefficiency determinants of rice farming using STATA 14. The findings revealed that before CACS, the regression of the stochastic frontier estimates of technical efficiency revealed that 96.7% had technical efficiency (TE) of 0.75 and above while 3.3% of the farmers operate less than 0.75 efficiency level. After accessing CACS, the regression of the stochastic frontier estimates of technical efficiency level revealed that 92.9% of the farmers had technical efficiency between 0.50 and 0.74, while 7.03% of the farmers operate at less than 0.49 efficiency level. This means that most of the farmers are technically inefficient. The value of the amount borrowed was positive with a value of 0.3453. The implication is that, after accessing CACS, the loan increased the inefficiency of rice farmers. Also the age of farmer and education of farmer led to technical inefficiencies in rice farming. Therefore the result concluded that commercial agriculture credit scheme have led to the technical inefficiency of rice farming in the study area.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/244EFFECT OF CONTROL ENVIRONMENT, RISK ASSESSMENT AND CONTROL ACTIVITIES ON FINANCIAL PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES IN KEBBI STATE2023-01-02T07:05:52+00:00ABUBAKAR MUHAMMAD ILLOmuhdabuillo@gmail.comNAZIF BALA YELDUnazifbalayeldu@yahoo.comMUHAMMAD YUSUF ALKALIyusufalkali68@gmail.comMUHAMMAD MUKTAR ABUBAKARmukhtarmuhammadnjd@gmail.com<p>This study examines the effect of Control environment, Risk assessment and Control Activities on financial performance of small and Medium Scale Enterprises in Kebbi State. Primary data was sourced through administration of a well-structured questionnaire using Simple Random Sampling of 30 Small and medium Enterprises in Kebbi State Nigeria. The data collected was quantified and analyzed statistically using Regression models (OLS). Data was analyzed with the aid of SPSS version 23. The result showed that control environment, risk assessment, and control activities have a positive and significant impact on the financial performance of small and medium-sized enterprises (SMEs) in Kebbi State, Nigeria. The study therefore recommended that SME's and other businesses or organizations should learn and adopt the importance of regular and timely financial audits to help them detect any gaps in their financial systems and financial performance. Frequent risk assessment should be conducted so that SME management may determine whether or not their goals will be reached.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/243CHINA’S INVESTMENT AND AFRICAN TECHNOLOGICAL ADVANCEMENT: CHALLENGES AND PROSPECT2023-01-02T07:09:39+00:00NELSON GOLDPIN OBAH-AKPOWOGHAHAdakpowoghaha@utg.edu.gm<p>There are growing body of studies on the impact of Asian and European states’ businesses on Africa. These studies have informed policy makers and political analysts of certain narratives behind developed countries investment in Africa. These narratives have been instigated by some actors in the West as a ploy to devalued investors from the Asian countries especially Chinese’s investment. Evidently, the investment of China in Africa has given the continent another positive image and hope in area of technological transfer and emerging markets for other states. The negative narratives against Asian’s countries particularly China engagement in Africa seem to blindfold the positive effects of the Sino-investment in the continent. Against this thought, this piece investigates the positive impact of Sino-Afro engagement with the aim to intensify the relationship; and also, to downplay unnecessary anecdotes. This investigation relies on documentations, global statistics and extant literature that enveloped the subject matter. However, the paper revealed that there is huge technological transfer that has affected the level of businesses in Africa. On a general note, the paper recommends the need to strengthen institutions in Africa in order to maintain the Sino-Afro engagement towards attracting more investments; and intensify man power development.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/239FINANCIAL SECTOR DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA2023-01-02T10:27:45+00:00JUDE OFILI IKUBORojikubor@nda.edu.ngHARUNA H GAUAUhhgusau1@gmail.comMOHAMMED NMA AHMEDnmahmed@nda.edu.ngRICHARD CHINYE OSADUMErichard.osadume@nmu.edu.ng<p>The study examined the impact of financial sector development on economic growth using selected banking sector variables such as broad money supply, total bank credits, total bank liabilities and private sector credits in Nigeria from 1981 to 2021. The supporting theoretical argument behind the study is that development of the financial sector will positively impact economic growth. Relevant econometric techniques such as unit root, OLS regression, autoregressive distributed lag, Johansen co-integration and the error correction tests were applied at significance level of 0.05. The results showed that the independent variables except private sector credit, had positive and significant relationship with real gross domestic product on the short-run and all the variables had significant impact on growth of the economy in the long-run with a speed of adjustment of 77.75%. In conclusion, the study agrees on the existence of a significant relationship between selected banking sector variables on economic growth and recommends that the monetary authorities should put measures and policies in place to consolidate on previous banking reforms, which will make the sector stronger, stable, virile and globally competitive in line with upward revision of the capital base and shareholders fund.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/246ASSESSMENT OF ROLES, STRATEGIES AND CHALLENGES OF DECENTRALISATION AND LOCAL GOVERNMENT ADMINISTRATION IN THE GAMBIA2023-01-02T07:32:22+00:00BANNA SAWANEHbsawaneh@utg.edu.gmY JANNEH LAMINlaminy54@gmail.com<p>The paper assessed the roles, strategies and challenges of decentralisation and local governance and how decentralisation improves service delivery to the public in The Gambia. The study used descriptive survey design through the administration of structured questionnaire of five-point Likert scale among the selected local government councils. Using random sampling, the sample size for the study was 325 respondents which comprised both administrative staff and service beneficiaries of sampled local councils in The Gambia namely, Kanifing Municipal Council, Brikama Area Council, Kerewan Area Council, and Mansakonko Area Council as well as the Ministry of Lands and Regional Government. A total of 325 copies of questionnaire were administered out of which 300 were retrieved from the field. This represents a response rate of 92 percent. Primary data were collected through questionnaire administration and conduct of interviews. The collected data were analysed using simple percentages and frequencies with the help of Stata version 13. Secondary data were obtained from policy documents, records, journals, relevant text books and the Internet. The study revealed that decentralisation and local government administration played a key role in local governance which impacted on the lives of beneficiaries of the local councils. The study concluded that decentralisation and local government administration faced formidable constraints which impede its efficient and effective implementation. These challenges include inadequate manpower and training of council staff, and ineffective communication and sensitisation among stakeholders on the roles and strategies of decentralisation. Added to that, political interference in the operations and administration of the internal affairs of local councils, created problems of inefficiency and bottlenecks in the smooth administration of local councils.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/242EXAMINING HOW DECENTRALISATION AND LOCAL GOVERNANCE IMPROVE SERVICE DELIVERY IN THE GAMBIA2023-01-02T11:24:55+00:00BANNA SAWANEHbsawaneh@utg.edu.gmY JANNEH LAMINlaminy54@gmail.com<p>The paper examines how decentralisation and local governance improve service delivery to the public in The Gambia. The study used “cross-sectional descriptive survey design”, through the administration of structured questionnaire of five-point Likert scale among the selected local government councils. Random sampling technique was adopted to calculate the sample size for the study. The study randomly selected five (5) institutions which included Kanifing Municipal Council, Brikama Area Council, Kerewan Area Council, Mansakonko Area Council, and the Ministry of Lands and Regional Government. Consequently, the sample size for the study was 325 from the study population of 2099 which included both administrative staff and service beneficiaries of the sampled local government councils and their line ministry in The Gambia. A total of 300 copies of questionnaire were retrieved from the field which represents a response rate of 92 percent. Primary data were collected through questionnaire administration and conduct of interviews. The questionnaire used semi-structured questions which were both open- and close-ended. The data were analysed using Stata version 13. Secondary data were obtained from published and unpublished policy documents, records, journals, relevant text books and the Internet to augment the study. The results of the study showed that decentralisation and local governance contributed immensely to improving service delivery. The study concluded that decentralisation as a strategy contributed a lot in improving local community participation in economic and political activities and empowered them to take ownership of their own community resources.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/240COMPARATIVE ADVANTAGE-DEFYING STRATEGY: AN ELUSIVE QUEST FOR INCLUSIVE GROWTH IN LAGGING ECONOMIES2023-01-02T11:32:48+00:00GIDEON O OLANREWAJUolanrewajug@babcock.edu.ngSHERRIFFDEEN A TELLAsatellang@yahoo.comANDY T OKWUokwua@babcock.edu.ngROWLAND T OBIAKORobiakort@babcock.edu.ng<p>Despite the “improved” political institutions of governance in the wake of enthronement of democracies, the resource-endowed developing countries still remain largely the most lagging economies in the world. It is with such quest to break the mold of laggedly daunting development challenges of pervasive poverty, huge inequalities and joblessness that this paper examined the structural linkage between institutional quality, the preferred development strategy and broad-based productive employment growth in Nigeria during the period 1998-2017, employing Auto-regressive Distributed Lag (ARDL) bounds testing to cointegration technique. The results of the study revealed that institutional quality had an overall significant impact on the real GDP per person employed. However, contrary to its a-priori expectation, the technology choice index was positively signed, indicative of the country’s adoption of an inappropriate development strategy. Meanwhile, all other explanatory variables were found to exert a positive statistically significant impact on inclusive growth in Nigeria both in the short-run and the long-run. The findings of the analysis showed that the state institution remains the major reference point in the conceptualization of a dynamic inclusive growth. Given her relatively labour-abundant resource endowment, building certain degrees of institutional capacity and character is much needed to harness the conversion of the nation’s socio-economic potentialities into realities of sustainable broad-based productive employment growth. Therefore, a comparative advantage-conforming development strategy should become the policy priority of the Nigerian government. This would lift millions out of poverty and bridge the long standing huge inequality gaps amongst the citizens.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/245INVESTIGATING THE CAUSAL RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN NIGERIA2023-01-02T13:12:45+00:00MODUPE FAUSAT ALESHINNLOYEm.fausat@nileuniversity.edu.ngSABIU BARIKI SANIsanisabiu@yahoo.com<p>This study investigates the causal relationship between energy consumption and economic growth in Nigeria for the period of 1981-2018. Total energy consumption is disaggregated into four subcategories (i.e., electricity power consumption, fuel pump price, energy capital formation, coal energy consumption) in an attempt to examine whether the links between energy consumption, and economic growth differs among the various sources of energy consumption. The study after conducting unit root test and cointegration employs granger causality test. The results of unit root test and cointegration test show that all variables are stationary at first difference, while there exist long run relationship among the variables in the model respectively. The granger causality result revealed the absence of bi-directional causality between the energy consumption variables and growth. This means that causality does not run from energy consumption to economic growth as well as economic growth to energy consumption. Apparently, there is empirical evidence of unidirectional causality between Elect_P and GDPg not in reverse direction. In general, it can be safely concluded that there is an evidence of a long-run causality between energy consumption variables and growth in Nigeria but run from energy consumption variables (electricity power consumption) to economic growth. This result lends support to the electricity-growth hypothesis in Nigeria. It is therefore recommended that government should encourage more access to energy diversifications and consumption as a primary source of value for factors of production i.e. labor and capital which we cannot do without. </p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/241MULTIPLE TAXATION, HIGH TAX RATE AND TAX COMPLIANCE: IMPLICATIONS FOR SMES’ GROWTH IN ZAMFARA STATE, NIGERIA2023-01-02T13:17:24+00:00ABDULRAHMAN BALA SANIsonyaxle9@gmail.comOLUWAFEMI EZEKIEL AJAYIfemiajayi57@gmail.com<p>The study examines if multiple taxation and high tax rate have significant influence on tax compliance among SMEs in Zamfara State. The study focused on Gusau, the state capital of Zamfara, with an estimated population of 682,700. Method of Sampling the Population is the Taro Yamane's sampling formula. The sample size of the study is 400 people who are small and medium business owners in Zamfara state, Nigeria. The study made use of multiple regression analysis, Anova, Coefficient, Collinearity Test in other to find the impact of high tax rate and multiple taxation among SMEs in Zamfara state. The study revealed that multiple tax system has significant influence on tax compliance. The study also revealed that high tax rate has negative significant influence on tax compliance among tax payers who are small business owners. The study therefore recommends that government should avoid high tax rate as this could have negative effect on tax compliance among SMEs in Zamfara State.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCHhttp://jearecons.com/index.php/jearecons/article/view/247EFFECT OF ICT ON REGIONAL GROWTH OF WEST AFRICAN STATES2023-01-02T13:19:29+00:00LOUIS SEVITENYI NKWATOHsevinkwatoh@gmail.com<p>The study examined the effect of Information, Communication and Technology (ICT) on the regional growth of the Economic Community of West African States (ECOWAS). The two-step dynamic GMM method was applied for a balanced panel data of 14 countries from 2007 to 2021. The results revealed that economic activities and the use of ICT are skewed in the ECOWAS region. Further results indicated that, ICT specifically captured by internet connections and mobile phones contribute significantly to the growth of the entire ECOWAS region. A major policy implication of this finding is that an increase penetration of ICT through internet connection, especially through the use of mobile phones, will facilitate capital diffusion and trade activities among member countries, leading to the accretion of their overall economic growth.</p>2022-09-27T00:00:00+00:00Copyright (c) 2022 JOURNAL OF ECONOMICS AND ALLIED RESEARCH