JOURNAL OF ECONOMICS AND ALLIED RESEARCH

IMPACT OF ARTIFICIAL INTELLIGENCE (AI) ON THE GROWTH OF STARTUPS IN NIGERIA

2025-01-08T10:52:00+00:00

The rapid adoption of Artificial Intelligence (AI) has significantly influenced the global business landscape, and its impact on startups is particularly pronounced. This study examines the role of AI in driving the economic growth of startup companies in Nigeria, a country with a burgeoning entepreneurial ecosystem but limited technological infrastructure. Grounded in Schumpeter’s Theory of Innovation, this paper explores how AI technologies enhance productivity, operational efficiency, and market competitiveness for Nigerian startups. A mixed-method approach was employed, combining quantitative surveys and qualitative case studies. Data were collected from 50 startups across various sectors, including fintech, healthtech, and agritech, that have integrated AI into their operations. The quantitative data was sourced through interviews. While existing literature was utilized as secondary data. The findings reveal that startups that implement AI technologies experience faster growth with a 25% higher growth rate in revenue, enhanced operational efficiency, and improved customer engagement compared to non-AI adopting startups. AI adoption, however, remains concentrated in a few industries due to infrastructural and financial constraints, with fintech leading in AI integration. Despite these challenges, the potential for AI to spur economic growth in Nigeria’s startup sector is evident. The study recommends that the Nigerian government, investors, and stakeholders develop a supportive ecosystem for AI innovation by improving digital infrastructure, offering tax incentives, and fostering public-private partnerships to boost AI training and capacity building. Furthermore, startups should leverage AI to scale operations and remain competitive in the fast-evolving global market.

FOREIGN DIRECT INVESTMENT AND MACROECONOMIC DYNAMICS IN NIGERIA

2025-01-08T11:00:04+00:00

Using time series data from the Central Bank of Nigeria statistical Bulletin (CBN, 2023) and the World Development Indicators (WDI, 2023), this study examined the effects of Foreign Direct Investment on Gross Domestic Product, Gross Capital Formation and Manufacturing Capacity Utilization in Nigeria during the 1986-2022 periods. Autoregressive Distributed Lag (ARDL) technique was adopted to estimate the dynamic relationship among the variables. The results indicated that FDI has a positive and statistically significant impact on both GDP (2.603904) and Gross Capital Formation (0.198195), but positive and non-significant impact on Capacity Utilization. The implication of the foregoing is that increase in FDI will increase GDP and Gross Capital Formation in the short run, while all the variables has a long run convergence to equilibrium.

ASSESSING THE SOCIO-ECONOMIC CONSEQUENCES OF CLIMATE CHANGE IN NIGERIA

2025-01-08T11:36:23+00:00

Nigeria's Climate change poses significant socio-economic challenges, including decreased crop yields, disruptions to livestock and fisheries, food security issues, biodiversity loss, damage to infrastructure, and increased public health risks. These issues disproportionately affect vulnerable communities, exacerbating social inequalities. The study suggests that the green economy can generate economic growth and job creation through sustainable practices, such as renewable energy, energy efficiency, sustainable transportation, agriculture, waste management, and green building. Investment opportunities in climate resilience include infrastructure resilience, agricultural adaptation, water resource management, renewable energy, natural resource management, and disaster risk reduction. Policy recommendations include robust climate governance, renewable energy promotion, agricultural resilience enhancement, sustainable urban development, green finance, public awareness, and social equity.

THEORETICAL FOUNDATION AND DYNAMICS OF PUBLIC DEBT IN SELECTED COUNTRIES

2025-01-08T11:46:06+00:00

This paper discusses the importance of effective public debt management for fiscal sustainability, economic stability, and growth. It examines different types of public debt and lessons learned from countries with high debt burdens. The paper provides a comparative analysis of public debt levels across countries and discusses debt sustainability analysis, highlighting the impact of public debt on economic growth. Various public debt management strategies are discussed, with a focus on emerging trends. The research emphasizes the need for sustainable financing, particularly through green and social bonds, and the integration of advanced technologies. The paper also emphasizes the development of local currency bond markets and enhanced risk management practices to reduce dependency on foreign debt and mitigate market risks. The paper concludes that, although scholars have exhaustively reviewed public debt in various countries around the world, the dynamics of public debt are still evolving. The study recommended promoting sustainable financing for improving public debt management practices among others.

MPACT OF MICROFINANCE BANKING SERVICES ON THE PERFORMANCE OF SMALLHOLDER RICE FARMERS IN KADUNA STATE, NIGERIA

2025-01-08T11:51:45+00:00

This study analyzes the impact of microfinance banking services on the performance of smallholder rice farmers in Kaduna State, Nigeria. Despite Nigeria's significant agricultural potential, smallholder farmers face multiple challenges, such as limited access to credit, insufficient infrastructure, and inadequate training, which hinder productivity. Microfinance institutions offer financial products like loans and savings, which are expected to enable farmers to invest in essential inputs and training, potentially boosting performance. The research employed a cross-sectional survey design and used primary data collected through a well-structured questionnaire administered to farmers organized into cooperatives. Stratified and simple random sampling techniques were used to select 179 respondents from three local government areas known for rice production. The data were analyzed using multiple regressions to test the relationship between microfinance services and farmers' performance. The findings reveal that microcredit and entrepreneurial skills training had significant positive impacts on farm performance at 1% level of probability which implies a unit increase in these variables will increase farmers’ performance, while micro-savings had a negative effect at 1% level of probability and this decreases farmers’ performance with a unit increase. The study shows that access to larger amounts of credit and enhanced entrepreneurial training can improve farmers' productivity and income, whereas improved savings programs are needed to foster financial discipline among farmers. It was recommended that government and financial institutions work together to enhance access to microfinance services, particularly in rural areas. Government should design policies to reduce barriers such as high interest rates and long repayment periods.

SSESSMENT OF OIL PRICE, EXCHANGE RATE AND ECONOMIC DEVELOPMENT IN NIGERIA: A GOAL PROGRAMMING OPTIMIZATION APPROACH

2025-01-08T12:04:40+00:00

There appears to be no consensus on many empirical studies (predominantly domestic studies) on the relationship between oil price, exchange rate and economic (Growth) development, hence the need to assess using the mathematical tool of goal programming to assess oil price, exchange rate and economic development. The decision variable of the goal programming analysis was generated firstly from the 10-years average of oil price, exchange rate and economic development. While oil price aspirational target of $80 per barrel and exchange rate target of N250/$ was attainable from the mathematical analysis conducted, that of economic development proxied by Human Development Index (HDI) target of 0.60 was found to be unattainable with margin of deviation of approximately 50%. Substitution of the respective deviations of the three constraints gave a non-zero objective function which suggest that the oil price, exchange rate and economic development goal programming analysis is not optimized. The study therefore recommended that government should as a matter of urgency double down on its oil exploration potentials by strengthen its institution to curb the menace of crude oil theft, revamp oil refinery to minimize incessant exchange rate pressure, diversifying the economy so as to mitigate rising unemployment and inflation rate and finally develop a pragmatic exchange rate regime that suite the economic peculiarities of Nigeria given the economy’s weak international trade competitiveness. This will ensure efficient and proactive trickle-down effect of proceed of oil endowment on socio-economic indicators and other near proxy of economic development.

INCOME INEQUALITY, WEALTH DISTRIBUTION AND SUSTAINABLE ECONOMIC DEVELOPMENT: A REVIEW OF STEADY STATE ECONOMIC THEORY FOR DEVELOPING ECONOMIES

2025-01-08T12:09:51+00:00

Ecological economists and environmental scientists have challenged the possibility of our current economic system being driven by more growth to guarantee a healthy environment, achieve human well-being and promote social equality. This issue emerged because of growing rates of environmental degradation, social breakdowns, and income inequality that have characterised the world system. In response to these concerns, Daly (1996) proposed the concept of “steady state economy (SSE)” as an alternative economic model. The concept deviates from mainstream economics, which focuses on growth. It draws attention to the need to improve the quality of life and maintain stable and sustainable resource use that is kept within the ecological limits. Using a critical review approach, I explored the relevance and applicability of this concept in developing countries. The study posits that although SSE is more suited for developed countries, some of its principles can be adapted to advance sustainable economic development in developing economies, particularly regarding income inequality.

COOPERATIVE SOCIETIES AND PROMOTION OF SUSTAINABLE DEVELOPMENT IN SOUTHWEST NIGERIA

2025-01-08T12:21:45+00:00

This study explored the role of Cooperative Societies in fostering sustainable development in
Southwest Nigeria, with emphasis on their contributions to poverty reduction and community
development. Despite various policy efforts, the region still faces significant socio-economic
challenges, such as high poverty levels and social inequalities. Cooperative societies, known
for their potential to address these issues, are underutilized due to inadequate funding and poor
management. Data were collected from 384 cooperative members across the six state capitals
in the Southwest region using a survey design, and multiple regression analysis was employed
to analyze the data. The results revealed significant positive relationships between Cooperative
Societies and poverty reduction (R² = 0.937) as well as community development (R² = 0.909).
Cooperatives improved financial access, supported entrepreneurship, and invested in essential
areas such as infrastructure, education, healthcare, and housing, promoting social cohesion.
To enhance their impact, the study recommends strengthening financial support through
agencies like the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) by providing
low-interest loans and grants tailored to cooperative initiatives. Governance and transparency
should be improved through regulatory frameworks, financial audits, and capacity-building
programs for cooperative leaders. Additionally, cooperative societies should partner with local
governments, NGOs, and international agencies such as the United Nations Development
Programme (UNDP) to expand community development initiatives. Partnerships should target
education, healthcare, and infrastructure projects, with state governments establishing
cooperative liaison offices to coordinate efforts.

EXPLORING THE CAUSAL NEXUS BETWEEN TAX COMPOSITION, INFRASTRUCTURE, AND ECONOMIC PERFORMANCE IN NIGERIA

2025-01-08T12:32:55+00:00

This study investigates the causal relationships among tax composition, infrastructure
investment, and economic performance in Nigeria from 1993 to 2022, employing the Granger
causality test within a linear regression framework. Tax composition was dis-aggregated into
value-added tax (VAT), personal income tax (PIT), company income tax (CIT), petroleum
profit tax (PPT), and customs and excise duties (CED), while infrastructure was measured by
infrastructural development. Findings reveal a unidirectional causality from VAT and CIT to
economic performance, indicating these taxes' significant impact on growth. A bidirectional
relationship is observed for PIT, suggesting mutual reinforcement between personal income
and economic activity. PPT also exerts a unidirectional effect on growth, while CED shows no
significant causality. Notably, economic performance influences infrastructure development
unidirectionally, challenging the infrastructure-led growth hypothesis. These insights
underscore the varied impacts of different tax components on Nigeria's economic performance.
Policy recommendations include enhancing tax administration, promoting tax education, and
fostering policies that support compliance and optimal allocation of tax revenues to stimulate
growth and infrastructure. This analysis provides a nuanced understanding of fiscal strategies
for sustainable development, highlighting areas where targeted tax reform can yield significant
economic benefits.

FISCAL DEFICIT AND ECONOMIC PERFORMANCE IN NIGERIA

2025-01-08T12:40:31+00:00

Despite several efforts to improve economic performance, Nigeria continues to face significant
challenges, including high fiscal deficits and sluggish economic growth. While extensive
empirical research has analysed the effect of fiscal deficit on economic growth, limited studies
have specifically investigated their nuanced effects on Nigeria’s economic performance. This
study examined the effects of fiscal deficit on Nigeria’s economic performance from 1987 to
2022. Fiscal deficit is incorporated as the independent variables, while interest rate, inflation
rate and gross fixed capital formation are included as control variable. Economic performance
is measured using GDP growth rate. Preliminary analysis shows that the unit root results
indicate variables were integrated at orders zero and one, with none integrated at order two,
making the series suitable for (ARDL) estimation approach. The ARDL analysis conducted at
a 5% level of significance revealed that in the short-run the current year’s fiscal deficit (β=
0.0004, t= 0.9262) had a positive but insignificant effect on economic performance. However,
fiscal deficits from one and two years prior had positive and significant effects. In the longrun, fiscal deficit (β=-1.0001, t=-1.8600) exhibited a negative but insignificant effect on
economic performance. Diagnostic residual tests confirmed that the model’s residuals were
normally distributed and appropriately specified. The study concluded that the fiscal deficit has
a negative and insignificant effect on Nigeria’s economic performance. It is recommended that
the government should not focus solely on fiscal deficits to improve economic performance,
but also consider other macroeconomic variables.

ASSESSING THE IMPACT OF LIBRARY ELECTRONIC RESOURCES ON STUDENTS’ ACADEMIC PERFORMANCE IN ECONOMICS IN PRIVATE UNIVERSITIES IN LAGOS STATE, NIGERIA

2025-01-08T12:54:36+00:00

This study examined the impact of library electronic resources on students’ academic
performance in economics in private universities in Lagos State, Nigeria. Library electronic
resources are digital materials and tools provided by libraries to support research, teaching, and
learning. These resources include online journals, e-books, databases, multimedia content, and
economic data repositories serve as critical tools that can enhance students' academic
performance in Economics. Four research questions and one hypothesis guided the study. The
study employed descriptive survey research designs. The simple random sampling technique
was used in selecting a sample size of 80 students in economics department. The research
instrument used for the data collection in this study was self-structured questionnaire. The data
collected were analyzed using frequency tables, and simple percentages were used to
summarize the data. Pearson Product Moment Correlation (PPMC) analysis was also used to
test the hypothesis formulated for the study. The level of significance was set at 0.05. Based
on these findings, the study revealed that there was significant relationship between library
electronic resources on students’ academic performance in economics in private universities in
Lagos State, Nigeria. This implies that the library electronic resources helps to improve the
understanding of economics and academic performance in assignments, reading online,
research project, exams, overall academic assessments in Economics. The study recommended
that government should develop a national policy focuses on digital library resources for
tertiary education, encouraging private universities to adopt global best practices in managing
e-resources. The study also recommended that university library management should create
awareness of the use of library electronic resources for students by conducting trainings,
workshops, seminars, etc

RICE PRODUCTION GOAL PRIORITIZATION IN NORTH-EAST NIGERIA: THE ANALYTIC HIERARCHY PROCESS (AHP) APPROACH

2025-01-08T13:07:04+00:00

This study applies the Analytic Hierarchy Process (AHP) to prioritize key goals for rice
production in north-east Nigeria, aiming to provide insights into resource allocation for
enhanced productivity. The results indicate that the Labour and Seed goal is the highest priority,
with a score of 0.4460, reflecting its critical role in optimizing production. The Yield goal
follows with a score of 0.3150, signifying its substantial impact on overall output. Conversely,
the Budget goal (0.1176) and the Chemical goal (0.0673) are ranked as less critical. A
consistency ratio of 0.03973 confirms a reliable level of consistency in the pairwise
comparisons, adding robustness to the prioritization results. These findings suggest that
stakeholders should focus primarily on improving labour and seed inputs to maximize
efficiency in rice production. Emphasis on these resources aligns with previous research
underscoring the influence of labour and seed quality on crop productivity. In contrast, budget
and chemical inputs are deemed secondary priorities. By concentrating efforts on labour and
seed optimization, sustainable and profitable rice farming practices can be promoted, ultimately
benefiting regional agricultural outcomes.

FOREIGN DIRECT INVESTMENT AND ENVIRONMENTAL POLLUTION IN SELECTED COUNTRIES IN AFRICA: DOES LEVEL OF GOVERNANCE MATTER?

2025-01-08T13:15:45+00:00

This study was undertaken to examine the effect of FDI on environmental pollution in selected countries with weak and strong governance structures in Africa. Ten countries were chosen from each category, while the time series variants is from 1990 to 2020. Bai and Ng Unit Root and CIPS Unit Root test were used for the panel unit root test. Westerlund Panel co-integration technique was used to examine the long run relationship among the variables. Feasible generalized least square (FGLS) was used to estimate the effect of FDI on environmental pollution in each group of countries. The result implies that the effect of FDI inflows is positive and significant in countries with governance structures, but it is insignificant in countries with strong governance structures. This implies that the pollution hypothesis is valid. In order words, it confirms that the pollution hypothesis holds in Africa. More so, the effect of FDI inflows on environmental pollution is higher in countries with weak governance structures than it is in countries with strong governance structures. It is recommended that African countries with weak governance structure should implement strong laws that will help regulate the acclivities of multinationals in their various countries.

SUSTAINABLE AGRICULTURAL PRACTICES AND THEIR CONTRIBUTION TO RURAL ECONOMIC DEVELOPMENT: EVIDENCE FROM EDDA LGA, EBONYI STATE, NIGERIA.

2025-01-08T13:29:58+00:00

This study investigates the role of Sustainable Agricultural Practices (SAP) in enhancing Rural Economic Development (RED), with a specific focus on the Edda Local Government Area in Ebonyi State, Nigeria. The research adopted a quantitative approach, utilizing quantitative data to examine how SAP contributes to rural economic growth and how Contextual Factors (COF) such as access to credit, educational level, cultural beliefs, social networks and community engagement moderate this relationship. The sample consists of 370 small, medium, and largescale farmers, selected through stratified random sampling. Regression analysis was used to explore the direct and interactive effects of SAP and COF on RED. The results indicate that SAP significantly improves RED by increasing agricultural productivity, ensuring environmental sustainability, and promoting income stability for rural farmers. Furthermore, the interaction between SAP and COF reveals that better contextual conditions, such as improved infrastructure and market access, significantly enhance the positive effects of sustainable farming practices on rural development outcomes. The findings underscore the critical need for policy interventions that not only promote sustainable agriculture but also address the contextual challenges that rural farmers face in implementing these practices effectively. The study recommends that government and development agencies strengthen support systems for rural farmers through infrastructure development, market integration, and capacity-building programs. By addressing these factors, sustainable agricultural practices can serve as a pivotal tool for improving rural livelihoods and driving long-term economic development in rural Nigeria. This research contributes to the growing body of literature on sustainable agriculture and rural economic development by providing empirical evidence from the Nigerian context.

EFFECT OF DISPLACEMENT ON HEALTH STATUS OF HOUSEHOLDS IN ZAMFARA STATE, NIGERIA

2025-01-08T13:50:32+00:00

The study investigated the effect of displacement on health status of households in Zamfara State, Nigeria. The study employed a cross sectional survey research design using primary data collected from the field with the aid of structured questionnaire. The population of selected LGAs from the senatorial zones covered in the study recorded higher incidences of displacement in Zamfara state of about 2,393,300 (two million, three hundred and ninety three thousand and three hundred). With a sample size of four hundred (400). The logistic regression model was employed with the aid of E-view software for estimation of data. The study revealed that both environmental displacement, migration displacement, Economic displacement, development displacement negatively affect household health status in Zamfara State Nigeria during the period of the study. The study recommends that government should improve on early warning systems, invest in resilient infrastructure, provide adequate support and ensure access to healthcare services for displaced populations.

PROMOTING EXPORT DIVERSIFICATION AND ECONOMIC GROWTH IN NIGERIA: CHALLENGES AND OPPORTUNITIES

2025-01-08T14:02:11+00:00

This study explores the impact of export diversification on Nigeria's economic growth,
focusing on the challenges and opportunities for improvement. The objectives are twofold: to
assess the effect of export diversification on economic growth and to examine the short-term
and long-term relationships between the two variables. Using the Auto Regressive Distributed
Lag (ARDL) model with time series data from the World Bank's World Development Indicators
(1981-2021), the results show a positive and statistically significant relationship between
export diversification and economic growth. In both short-term and long-term analyses, exports
are found to significantly drive economic growth, while imports, the balance of payments, and
exchange rate fluctuations present challenges to Nigeria's economic stability. The study
concludes that export diversification plays a crucial role in enhancing economic growth but is
hindered by structural and institutional constraints. Therefore, it is recommended that Nigeria
intensify its efforts in diversifying exports, stabilize its exchange rate, address the balance of
payments issues, and improve the investment climate. Furthermore, strengthening economic
institutions and implementing comprehensive structural reforms are critical for sustaining
diversification and fostering long-term economic resilience.

DISAGGREGATED HOUSEHOLD CONSUMPTION EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA

2025-01-08T14:14:27+00:00

The study empirically analyzed the disaggregated household consumption expenditure on
economic growth in Nigeria for the period of 1981-2023. The dependent variable is gross
domestic product growth rate (GDPGR) while the explanatory variables are Final Consumption
Expenditure of Household (FCEH) and Final Consumption Expenditure of Non-Profit
Institution Serving Household (FCEN). The data were all sourced from Central Bank of Nigeria
Statistical Bulletin 2023. The preliminary analysis was carried out using Augmented Dickey
Fuller Unit Root test and Johansen Cointegration while the main estimation technique is Vector
Error Correction Method and Granger Causality/Block Exogeneity Wald Tests. This study
revealed that the Final Consumption Expenditure of Households (FCEH) significantly drives
Nigeria's GDP growth, with a short-term impact of 9.35 percentage points and a stronger longterm effect of 17.80 percentage points. The Final Consumption Expenditure of Non-Profits
Serving Households (FCEN) shows short-term benefits with a 1.91 percentage point rise but a
long-term decline of 2.78 percentage points. The Granger Causality Test indicates that FCEH
and FCEN Granger-cause GDP growth. This study concluded with emphasize on the
importance of promoting household consumption while optimizing public expenditure to
support long-term economic growth. To foster economic growth, Nigeria should implement
policies to increase household disposable income and boost consumer spending, while also
expanding social welfare programs to reduce regional disparities.

DECOUPLING GROWTH AND EMISSIONS: ECONOMETRIC EVIDENCE FROM SELECTED AFRICAN ECONOMIES

2025-01-08T14:27:45+00:00

The nexus between economic growth, energy consumption, and climate change aligned with
different emission levels has been a growing contention among the stakeholders. The narrative
of striking a balance between economy, climate, and resource management is one of the
primary fundamentals of recent Sustainable development goals. African nations are not only
geographically important but also economically significant which is mostly ignored in most
research. This study employed the autoregressive distributed lag (ARDL) approach as it
explains how economic variables change over time. To examine the overall impact of energy
consumption (per capita), renewable energy consumption (per capita), and CO2 emissions on
GDP, three African nations—Nigeria, South Africa, and Morocco—have been selected. .
According to this study, renewable energy may impede economic progress. On the other hand,
over time, renewable energy sources do hurt CO2 emissions but a positive effect on measures
of economic growth like GDP per capita. African nations have the option to use renewable
energy sources, which can lessen environmental harm and promote general economic
expansion. This study can help emerging nations find strategies to attain sustainable
development without reverting to the carbon-intensive models of the past. Policymakers can
use this information to determine which economic sectors use the most energy and to evaluate
the effects of switching to low-carbon alternatives. This study also impacts the security of the
energy supply because reliance on renewable energy sources lessens reliance on finite and
unstable fossil fuel supplies. Additionally, it advocates for the implementation of financial
incentives that encourage innovation and private investment in sustainable practices, such as
carbon taxes and green financing.

NATURAL GAS EXPORTS AND NIGERIA’S FOREIGN RESERVES GROWTH

2025-01-08T14:44:25+00:00

This research examined the contribution of natural gas exports to Nigeria's foreign reserves in
the past two decades using data on Natural Gas export, foreign reserves trends, exchange rate
and GDP growth. The study covered 2000 through 2022. Methods of analyses include
descriptive statistics, ADF test for stationarity, Error Correction analysis and the Granger
causality. The research found that gas export positively impact foreign exchange reserve. The
estimated ECT -1 established that 104% of existing dis-equilibrium between the short and long
term dynamics were adjusted annually among the series. The study recommends that Nigeria
needs to intensify efforts toward developing its gas industry so as to be reckoned with as a
major supplier at the international scene, who is capable of meeting the needs of both domestic
and international markets, and thus increase its foreign reserve through gas exports.

IMPACT OF FINANCIAL INSTITUTIONS ON ECONOMIC ACTIVITIES IN NIGERIA (A CASE STUDY OF COMMERCIAL BANKS LOCATED IN OWERRI MUNICIPAL, NIGERIA)

2025-01-08T14:51:07+00:00

This study investigates the role of financial institutions, with a focus on commercial banks, in
fostering economic development in Nigeria, particularly in Owerri Municipal. By examining
key banking functions such as fund mobilization, savings allocation, credit creation, short-term
financing, and liquidity support for deficit sectors, the study evaluates the impact of these
activities on Nigeria's economic growth. Using data from senior bank staff and weighted mean
statistics, the findings reveal that fund mobilization and efficient savings allocation are pivotal
in driving sustainable growth, while credit creation enhances business expansion and consumer
spending. However, challenges such as low public trust, regulatory gaps, and high nonperforming loan rates undermine the full potential of banks in supporting economic
development. The study recommends targeted actions from the Central Bank of Nigeria (CBN),
the Nigerian Deposit Insurance Corporation (NDIC), and other key agencies to enhance digital
banking, improve credit risk management, support entrepreneurial funding, and promote green
finance. These recommendations emphasize the need for a balanced approach to banking
practices that foster stability, inclusivity, and transparency. Policy implications suggest that
strengthening regulatory oversight, enhancing digital infrastructure, and fostering public trust
can optimize the economic contributions of commercial banks. The study concludes with
recommendations for further research on the long-term effects of digital finance, the impact of
green finance, and the role of institutional trust in shaping a resilient financial sector in Nigeria.

ANALYSIS OF THE SOCIOECONOMIIC EFFECTS OF LAND RECLAMATION IN LEKKI, LAGOS STATE, NIGERIA.

2025-01-08T15:00:08+00:00

The paper investigates the effects of land reclamation in Lekki area of Lagos state. The
objectives of the study include the extent of the reclaimed land in the study area, examination
of the factors for relocation to the study area, livability and satisfaction of the residents, the
implication of the reclamation exercise and the examination of the control measures put in
place to mitigate possible effects of such reclamation exercise. The study adopts survey
research design and multi-stage approaches. Data collection were done using questionnaire
survey and personal observation instruments. The study uses descriptive and inferential
statistical tools for data analysis and interpretation. The study reveals the portion of wetland
and ocean based has been transformed to human settlement and that the occupier placed high
premium on home ownership than shelter in their decision for relocation to the study area, they
are satisfied with the level of infrastructure in the study area and that the perceived
disadvantages of the reallocation was consider too insignificant to reckon with in their decision
to relocate. The study recommends among others formulation of policy for the maintenance
and preservation of the quality of the reclaimed environment.

NEXUS BETWEEN MONETARY POLICY AND ORANGE ECONOMY IN NIGERIA: A CATALYST FOR CREATIVE SECTOR DEVELOPMENT

2025-01-08T15:13:43+00:00

This paper investigates the relationship between monetary policy and Nigeria's orange
economy, highlighting its potential as a catalyst for creative sector development from 1985 to
2023. Monetary policy indicators, including the monetary policy rate, money supply, and cash
reserve ratio, were employed as proxies for monetary policy, while the art, entertainment, and
recreation industry served as a representation of the orange economy. Data were sourced
primarily from the Central Bank of Nigeria (CBN) Statistical Bulletin. The study applied the
Augmented Dickey-Fuller (ADF) unit root test to ensure stationarity, the Johansen cointegration test to examine long-run relationships, and the Vector Auto-Regressive (VAR)
model for short-run dynamics. Empirical findings revealed that all variables were stationary at
first difference. The Johansen co-integration test indicated no long-term association among the
variables. However, the VAR analysis demonstrated that broad money supply had a positive
and significant impact on the art, entertainment, and recreation industry, while the monetary
policy rate and cash reserve ratio showed a positive but insignificant relationship with the
sector. The study concludes that monetary policy significantly influences Nigeria’s orange
economy. It recommends that the Central Bank of Nigeria (CBN) establish a creative industry
financing framework under the Creative Industry Financing Initiative. This framework should
feature lower interest rates and longer repayment terms to support stakeholders in the art,
entertainment, and recreation sectors, fostering sustainable growth and development.

ASSESSMENT OF SOLID WASTE MANAGEMENT PRACTICE AT THE STAFF QUARTERS OF WAZIRI UMARU FEDERAL POLYTECHNIC, BIRNIN KEBBI, NIGERIA

2025-01-08T15:26:47+00:00

Solid wastes generation is an inevitable outcome of human living. While they are potentially
harmful, understanding how to manage them can lead to wealth creation and a safe community.
However, studies on solid wastes management in campuses in north-west Nigeria are limited.
Therefore, this paper aimed to evaluate solid waste management practice at the staff quarters
of Waziri Umaru Federal Polytechnic, Birnin Kebbi. The research gathered data through
administering questionnaires on participants via electronic means. The authors analysed
questionnaires received using descriptive statistics using MicroSoft Excel, version2013 and
obtained frequencies including means and ratios. The study found that much of the solid wastes
generated in the study area were conveyed in open carts to disposal sites - a practice that caused
air pollution. The study also found that recycling was a below-average practice among most of
the participants. The paper suggested that sensitization on effective solid waste management
be held for the residents. The paper also recommended formal designation of disposal sites and
routine monitoring of the sites to ensure compliance.

BARRIERS TO EMPLOYMENT GENERATION BY RURAL SMALL BUSINESSES IN BENUE STATE, NIGERIA

2025-01-08T15:36:15+00:00

This study identified and critically analyzed the barriers inhibiting employment generation by
rural small businesses in Benue State, Nigeria. The research investigated the structural,
infrastructural, sociocultural, and institutional challenges confronting rural entrepreneurship
and developing insights to inform more effective policy interventions. Focusing on the three
senatorial districts of Benue State, the study employs a quantitative survey approach utilizing
two-stage cluster sampling, with 360 small businesses randomly selected across twelve local
government areas. Employing the Entrepreneurship Ecosystem Theory as the theoretical
framework, the research methodically collected and analyzed data through questionnaires. The
findings reveal a complex entrepreneurial landscape characterized by a progressive gender
composition, with women comprising 55% of small business ownership, and a predominantly
micro-enterprise structure primarily employing 1-10 workers. Similarly, the study uncovered
significant barriers to employment generation, including financial constraints affecting 28.4%
of enterprises, high production costs impacting 18.4% of businesses, and inadequate
infrastructure challenging 14.7% of entrepreneurial efforts. Furthermore, the research
highlights the diverse sectoral landscape, with agriculture, financial services, and retail trade
emerging as leading sectors. Additionally, the study identifies critical support needs, with
access to finance (31.8%), infrastructure improvement (19.1%), and training/mentorship
(18.1%) emerging as key priorities. Consequently, the research recommends a comprehensive
policy approach involving specialized microfinance programs, infrastructure investment,
entrepreneurship training initiatives, simplified business regulations, market access platforms,
and gender-inclusive entrepreneurship strategies to enhance employment generation and drive
sustainable rural economic development.

EFFECTIVENESS OF NIGERIA’S FISCAL POLICY IN MANAGING OIL PRICE SHOCKS: IMPLICATIONS FOR HEALTH EXPENDITURE AND EXTERNAL DEBT SUSTAINABILITY USING D-i-D TECHNIQUE

2025-01-08T15:48:12+00:00

The volatility of oil prices presents significant fiscal challenges for oil-dependent economies like
Nigeria, often exacerbating economic instability and undermining social sector investments. This
study investigates the effectiveness of Nigeria’s fiscal policy in managing oil price shocks, with
particular emphasis on their implications for health expenditure and debt sustainability. Motivated
by the need to address persistent fiscal imbalances and declining public healthcare funding, the
study examines the extent to which fiscal responses mitigate the adverse impacts of oil price
fluctuations over a 43-year period. Grounded in Resource curse hypothesis, Wagner’s law and
fiscal illusion, and Public finance theory, the study highlights the inadequacies of countercyclical
fiscal policies in resource-dependent economies. The analysis employs the Difference-inDifferences (D-i-D) technique, and macroeconomic time series data. Key variables include oil
price changes, government health expenditure, and debt-to-GDP ratio. Findings from the study
reveal that fiscal policy responses during periods of economic contraction often result in reduced
healthcare spending and increased borrowing. In contrast, periods of economic recovery from
rising oil prices show limited fiscal prudence, with inadequate investments in social infrastructure
or debt reduction. These inefficiencies amplify fiscal vulnerabilities and compromise long-term
economic stability.The study recommends adopting countercyclical fiscal measures, diversifying
revenue sources, and strengthening institutional frameworks to enhance fiscal resilience.
Policymakers should prioritize healthcare financing and debt sustainability to mitigate the socioeconomic effects of oil price volatility, ensuring equitable access to health services and fiscal
stability.

ECONOMIC GROWTH AND ENVIRONMENTAL SUSTAINABILITY: ASSESSING THE VALIDITY OF THE ENVIRONMENTAL KUZNETS CURVE IN NIGERIA

2025-01-08T15:56:16+00:00

The environmental Kuznets curve (EKC) hypothesis explores the relationship between
economic growth and environmental quality, suggesting that environmental degradation
initially worsens with economic growth but improves after reaching a specific income
threshold. While evidence supporting the EKC exists for some pollutants and countries, results
remain mixed for Nigeria. This study therefore reexamines the EKC hypothesis for Nigeria,
focusing on key environmental degradation indicators: CO2 emissions, fossil fuel consumption,
resource depletion, and erosion. Specifically, it investigates whether an EKC relationship exists
between these indicators and GDP growth. The study also determine Nigeria’s growth
threshold, above which economic growth benefits the environment. Using time-series data
from 1981 to 2023 sourced from the World Bank’s World Development Indicators, the study
employed threshold regression analysis to evaluate the validity of EKC hypothesis. The results
reveal mixed alignment with the EKC hypothesis. While some indicators of environmental
degradation validate the EKC hypothesis, others refute it. This study, therefore, concludes that
economic growth impacts only some aspects or components of environmental degradation.
Accordingly, policy measures such as adoption of green technologies, promotion of renewable
energy, and enforcement of stricter environmental regulations are recommended in order to
achieve sustainable economic growth. Adopting these measures would reduce pollution,
conserve natural resources, and mitigate climate change, fostering a balance between economic
growth and environmental sustainability.

REVISITING THE ENVIRONMENTAL KUZNETS RELATION IN NIGERIA: AN EMPIRICAL STUDY OF ECONOMIC AND ENVIRONMENTAL TRENDS

2025-01-09T09:12:08+00:00

This study reexamines the Environmental Kuznets Curve (EKC) in the context of Nigeria, exploring the relationship between economic growth and environmental degradation. The EKC hypothesis suggests that as an economy grows, environmental degradation worsens initially, but improves once a certain income threshold is reached. While some studies support this theory, others have produced mixed results, largely due to the oversimplification of the relationship between economic growth and environmental quality. The study specifically focuses on Nigeria, assessing the EKC hypothesis using indicators of environmental degradation such as CO₂ emissions, fossil fuel consumption, resource depletion, and erosion. The study aims to determine if a relationship exists between these environmental indicators and per capita GDP, whether the relationship follows the EKC pattern, and if Nigeria has reached the income threshold where economic growth begins to benefit the environment. Using time-series data from 1981 to 2023 sourced from the World Bank, the study employs threshold regression analysis to test the EKC. Results indicate that while some models support the EKC theory, the relationship is not consistent across all environmental indicators. The study concludes that for Nigeria to achieve sustainable and balanced growth, the government should implement green technologies, promote renewable energy, adopt circular economy models, and enforce stricter environmental regulations to mitigate pollution, preserve resources, and combat climate change. These measures could help Nigeria transition to a more environmentally sustainable growth trajectory.

THE ATTITUDE OF NIGERIAN HEALTH WORKERS TOWARDS EFFICIENT HEALTH SERVICE DELIVERY IN NIGER DELTA STATES

2025-01-09T09:17:56+00:00

The attitude of health workers towards efficient health care delivery, particularly in the ravaged Niger Delta states, has raised significant concerns regarding the life expectancy and economic development of these states. This study, therefore, investigates the effects of the attitude of health workers on efficient health service delivery in Niger Delta states. The study employed the survey method to conduct this research. Health workers and patients in government hospitals across the selected state capitals made up the population. The deployed the stratified random sampling method to select the sample size. The study demonstrated that the attitude of state health workers in Niger Delta states positively impacts the efficiency of health service delivery; a change in their attitude positively impacts the effectiveness of health services; and modifying their behavior positively impacts the productivity of health service delivery in Niger Delta. The study, therefore, proffers recommendations to improve service delivery among healthcare workers in the Niger Delta states with implications for other sectors in Nigeria.