| 1 |
Author(s):
Editor in Chief.
Page No :
|
African Journal of Economics and Sustainable Development, Volume 7 Issue 2, Cover Page
Abstract
African Journal of Economics and Sustainable Development, Volume 7 Issue 2, Cover Page
| 2 |
Author(s):
Editor in Chief.
Page No :
|
African Journal of Economics and Sustainable Development, Volume 7 Issue 2, Cover Page
Abstract
African Journal of Economics and Sustainable Development, Volume 7 Issue 2, Cover Page
| 3 |
Author(s):
Olabode Agunbiade (Ph.D.).
Page No : 1-14
|
Identifying the Economic Rationale for Criminal Behavior within the Context of Kidnapping for Ransom in Nigeria
Abstract
This study endeavoured to formulate an economic rationale for why human beings commit crime, particularly the heinous crime against persons known as kidnapping. This forms the major objective of this study. The issue of kidnapping has attained such significance in Nigeria that the country was recently listed as sixth on the global kidnap index, putting Nigeria amongst countries with serious kidnapping problems, behind Philippines, Venezuela, Columbia, Brazil and Mexico. Utilising secondary data, the study applied functionalist theoretical assumptions and employed Qualitative Document Analysis (QDA), thereby utilising a qualitative approach to gain an in-depth understanding of the causes, nature and quantum of kidnapping for ransom in Nigeria. The theoretical framework that governed this study was Becker’s Rational Choice model, where an individual’s decision to commit a crime is based on the costs and benefits analysis. The study revealed that kidnapping for ransom in Nigeria is a multifaceted phenomenon with social, economic, political, cultural and demographic ramifications. Our study further showed that there are many economic causes of the spate of kidnapping in Nigeria. Prominent among them are unemployment, poverty, low literacy level and high rate of school dropouts, increasing urbanisation, multidimensional inequality, low real income, and spiraling inflationary trends, among others. We recommended that government should tackle this menace head-on by instituting measures to reduce poverty, creating enabling environment for more productivity; thus, leading to increased employment, increasing school enrolment and improving educational infrastructure, reducing rural-urban migration to make the rural areas worthwhile to live in, discouraging ransom payments to free captives and instituting stiffer laws against kidnapping.
| 4 |
Author(s):
Lebechukwu David Uzochukwu, Odo Kenneth Ejiofor, Okoro Stanley Ngozi Anicho, Raphael Michael Ugochukwu.
Page No : 15-22
|
Contributions of Cooperative Societies to the Development of Small-Scale Industries: A Case Study of Selected Pure Water Manufacturing Firms in Aniocha South L.G.A Delta-State
Abstract
The quest for economic survival has made several Nigerians delve into small-scale businesses which has improved the per-capita income of the average Nigerians, and led to the initiation of the Cooperative Scheme. This research unveils the significance of the cooperative society and its multiple effects on the small-scale firms. The benefits inherent in the cooperative societies and the small-scale business are highlighted; and its constraints, funding and prospects are equally identified. Some relevant research instruments aided the methodological approach and consequently, the justification of the empirical study. The study shows that if cooperatives play their proper role in the development of small scale business, specifically pure water manufacturing firms, other entrepreneurs will be encouraged to establish and consolidate their enterprise in a record time. Finally, based on response comparison, the study also shows that the considered factors that affect the contributions of cooperative societies to small scale business development are very significant; and hence should not be overlooked.
| 5 |
Author(s):
Johnbosco Ikenna Okafor, Esther Ifeanyichukwu Oladejo, Raphael Oshiobugie Sado.
Page No : 23-28
|
Arbitration and Resolution of Contending Forces of Urban Land Policy Expressed in Land Use in Metropolitan Areas of Nigeria
Abstract
The beauty of a metropolitan area is efficient separation of different land uses so as to accommodate and ensure the coexistence of various land uses (residential, commercial industrial, recreational, etc.) in urban centers. This paper examines the complexities of urban land policy and land use in metropolitan areas, with a focus on Lagos. The study adopted qualitative content review to analyze existing literature. The study found that the government understands that land is a treasure; hence, there are land policies on the use of land to control the use and ownership of land in Nigeria. In spite of all these legislations, there are still existing problems and inadequacies in land use and administration of land in metropolitan areas, such as Lagos. This inadequacy are the contending forces of urban land policies expressed in land use in metropolitan areas in Nigeria. However, there are land use approaches which ensure the arbitration and resolution of these contending forces. These land use approaches include but are not limited to comprehensive urban planning, zoning and land use regulation, infrastructural development, etc.
| 6 |
Author(s):
Ibrahim Musa, El-Yaqub A. B., Sule Magaji.
Page No : 29-39
|
Analysis of the Impact of Domestic Debt on the Nigerian Economy: 1980-2021
Abstract
The study investigates the impact of domestic debt on the Nigerian economy from 1980 to 2021 to ascertain, among other things, the relative significance and impact of domestic debt on Nigeria's GDP growth. The study uses quantitative research with a secondary focus on CBN data. The Debt Management Office and Central Bank of Nigeria provided information on the stock of domestic debt, GDP, interest on domestic debt, and capital spending for Nigeria between 1980 and 2020. The gathered data were subjected to a linear regression model, and the model's effectiveness was evaluated using the E-view statistical program. The Unit Root Test and Ordinary Least Square Method were the techniques utilised in this study to assist in explaining the variation and other explanatory variables. The Autoregressive Distributed Lag model (ARDL)-Bound Test is used in the study to investigate and analyse cointegration. According to the findings, Nigeria's economy is negatively impacted by domestic wagers, interest rates on domestic debt and capital expenditures, budget deficits, and private-sector lending. The study suggests good domestic debt management and suitable debt-servicing strategies for the efficient expansion of the economy in light of this finding.
| 7 |
Author(s):
Adewale E. Adegoriola , Aishatu Ibrahim Ogiri, Timothy Idowu Adeyemo.
Page No : 40-52
|
Economic Sustainability and Gas Flaring in Nigeria
Abstract
The crude oil exploration leads to the flaring gas, which affects Nigerian economic sustainability. The empirical study is to inquire about the profitable (economic) sustainability of the flaring of natural gaseous substances in Nigeria. The survey is to employ the ready-made design through the National Bureau of Statistics, Central Bank of Nigeria Statistical Bulletin, Department of Petroleum Resources, and World Development Indicators. The Autoregressive Distributed Lag (ARDL) model and Augmented Dickey-Fuller test are employed as the estimation technique and unit root test for long-range presence association between the exogenous and explained variables. The findings of the study showed an insignificantly positive outcome of profitable (economic) growth on natural gas flaring in Nigeria. The current employment rate showed a positively insignificant impact on the gas flare. The current oil revenue value showed a positively significant impact on gas flaring. Meanwhile, the oil revenue lag showed an insignificantly negative impact on Nigerian naturally flared gaseous substances. The research recommends that the relevant natural gas authorities should put in place stringent laws to reduce the flaring of natural gas consequences to the well-being of humans, the environment, and the economic growth and development of the country. Alternatively, the government should encourage sound and viable gas flaring processes of industrial and domestic usage.
| 8 |
Author(s):
Dr. Heriel Emanuel Nguvava, Praygod Chao.
Page No : 53-65
|
Implication of 4th Industrial Revolution on Tax Revenue Collection in Tanzania: A Case of Manufacturing Industries.
Abstract
The study assessed the implication of the Fourth Industrial Revolution (4IR) on tax revenue collection in Tanzania. Specifically, the study set out to establish the causality of investment in 4IR technologies, on manufacturing industries’ Value Added Tax (VAT); determine the influence of investment in 4IR technologies on manufacturing industries’ Corporate Tax and examine the effects of investment in 4IR technologies on manufacturing industries’ Employment Tax (PAYE). To achieve the research objectives, the study used a quantitative descriptive design to generate the required data. Moreover, the study used structured questionnaires for cross-sectional survey, administered with 225 production managers of manufacturing industries in Tanzania. It used probability sampling in the form of cluster sampling. Additionally, the study used the Least Square method to analyse the objectives of the study in addition to testing the hypotheses. The study found a positive and statistically significant causal effect between investment in modern technology, VAT, Corporate tax and Employment Tax (PAYE) of manufacturing firms in Tanzania, for the period under study. Implicitly, the emergence of 4IR does not necessarily occasion a decline in tax revenue collections (VAT, PAYE, and Corporate Tax) on the part of manufacturing firms in developing countries endowed with resources, like Tanzania, but rather complements and accelerates its growth. Thus, the study calls on the Tanzania Government to review and improve its Sustainable Industrial Development Policy of 2020 and the Integrated Industrial Development Strategy of 2025 to embrace, promote and support not only resource-based industries, but also technological based industries, to speed up industrialization within the country and ultimately improve and increase tax revenue collection. The government should also improve its investment policies and align them with technological changes brought by 4IR, to attract more foreign direct investments, importation and adaptation of 4IR technologies from developed countries that enhance productivity, turnover and tax revenue collections from the manufacturing sector.
| 9 |
Author(s):
Ogbu Chibueze Okpaga.
Page No : 66-81
|
Impact of Monetary Policy on Importation in Nigeria (1990-2020)
Abstract
This study ascertained the effect of monetary policy on importation in Nigeria covering the period 1990 – 2020. Data for the study were extracted from the Central Bank of Nigeria (CBN) statistical bulletin. The method of data analysis used is the linear regression method with the application of the Error Correction Model (ECM). The major findings of the study reveal that interest rate has a negative and insignificant effect on importation in Nigeria, exchange rate has a positive and insignificant effect on importation in Nigeria, broad money supply has a positive and significant effect on importation in Nigeria and there is a causal relationship between importation, trade openness and broad money supply. It is therefore the recommendation of the study that there is need for boosting domestic production so as to contend high level of import that may have a detrimental effect on our external reserves. Secondly; the Nigerian authorities should carry out reforms that would enhance the role of interest rate in order to mobilize funds for trade purposes.
| 10 |
Author(s):
Ibini Emueje, Jude Ndubuisi Memeh.
Page No : 82-100
|
Effect of Strategic Orientation on Organizational Performance of Hotels in Warri Delta State Nigeria
Abstract
The study examined the effect of strategic orientation on organizational performance of hotels in Warri, Delta State. The study used a cross-sectional survey research approach. The survey encompassed a population of 482 employees from 10 selected four- and five-star hotels located in Warri, Delta State. A sample size of 214 employees was chosen from the entire population. A structured questionnaire was employed as the research tool in this study. In order to ascertain the instrument's reliability, a test-retest technique was employed. Data was analyzed by using descriptive and inferential statistical techniques, including correlation and multiple regression analysis. The analysis was conducted using the SPSS for Windows software, namely, version 25. Findings showed that entrepreneurial orientation, market orientation and customer orientation have a significant positive effect on organizational performance. The study concluded that strategic orientation has a significant positive effect on organizational performance of hotels in Warri, Delta State. The study recommended amongst others that hotels should foster an environment in which all team members, ranging from frontline employees to executives, adopt a customer-focused mentality. Ensure that your employees comprehend the significance of anticipating the wants of guests, providing proactive assistance, and continually giving outstanding service.
| 11 |
Author(s):
Joshua Chukwuma Onwe, Ediri Emmanuel Agada (Ph.D.), Ogayi Cornelius Onwe (Ph.D.), Okorie Williams, Rebecca Chinenye Ogba (Ph.D.).
Page No : 101-113
|
Factors Influencing Business and Entrepreneurial Survival in Africa: A Systematic Review
Abstract
This paper examined the key factors that significantly impact the survival of businesses and entrepreneurial ventures in Africa using a systematic review. It is crucial to comprehend the factors that influence the existence of businesses to achieve enduring economic growth and advancement. By employing a comprehensive review of pertinent academic publications, this research effort merges significant findings from contemporary investigations to offer helpful perspectives on the challenges along prospects experienced by businesses operating in Africa. This study addresses various facets of entrepreneurship, such as the impact of entrepreneurial factors on achieving high levels of success, the causes of failure, the drivers of growth, and the distinct experiences of micro-businesses owned by African immigrants. Findings from the study indicate that several factors, including resource accessibility, market conditions, entrepreneurial aptitude, and government assistance, substantially influence the longevity of businesses in Africa. This study contributes to the broader academic conversation surrounding entrepreneurship in Africa. It achieves this by providing a comprehensive and current analysis of the various elements that influence the long-term viability of businesses. The outcomes of this comprehensive analysis provide valuable insights for policymakers, entrepreneurs, and researchers, enabling them to make informed decisions based on facts and promoting a conducive atmosphere in businesses striving in Africa.
| 12 |
Author(s):
Overo Kennedy, Orubu Christopher (Prof.), Ezi C. T. (Ph.D.).
Page No : 114-130
|
Transport and Electricity Infrastructures and Economic Growth and Development in Selected sub-Saharan African Countries
Abstract
Economic postulations suggest that the interrelationship between changes in incomes, capital and labour which can be substituted into macroeconomic neoclassical and steady-state growth theories drives economic development. Arising from the above economic axiom, this study investigated the impact of transport and electricity infrastructures on economic development and growth in sub-Saharan Africa. The study used panel data from fifteen (15) sub-Saharan African countries. Panel data were obtained from statistical bulletins of the various countries and World Bank Indicators (WBI) from 2000-2022. Data obtained were analyzed via descriptive, diagnostic and inferential statistics. Specifically, the fixed and random effects regression revealed that while there is a significant relationship between transportation and electricity infrastructures and economic growth, an insignificant relationship was found between transportation and electricity infrastructures and economic development in the selected sub-Saharan African countries. Based on the findings, it was recommended among others that governments in sub-Saharan Africa needs to increase their contributions and support for electricity and transportation infrastructures; this can be done by increasing budgetary allocation for critical infrastructures in countries of sub-Saharan Africa.
| 13 |
Author(s):
Okuoyibo Azuka Monday, Okorefe Charles (Ph.D.), Sylvester Maduabuchi Awgu.
Page No : 131-145
|
Evaluation of Supply Chain Management Challenges of multinational Companies in West Africa under the ECOWAS Trade Liberalization Scheme (ETLS)
Abstract
This paper examined the Supply Chain Management challenges of multinational companies in West Africa under the ECOWAS trade liberalization scheme. The objective of the study includes to identify the various ECOWAS's regional integration protocols, Assess the level of implementation of ETLS among members state and evaluation of the various negative factors affecting full implementation of ETL, among others. The methodologies adopted includes Qualitative and quantitative method of data collection including literature review, expert interview, survey and case studies over a sample of 150 multinational companies (MNC). The results reveal that Complex and Non-Transparent Regulations exists among the MNC in the West African region, existence of Inadequate Infrastructure and Logistics, Non-Harmonized Trade Facilitation Measures as well as weak institutional co-ordination and enforcements. The study concludes that ETLS presents both opportunities and challenges for MNCs operating in West Africa and recommends among others the Simplification and Harmonization of Trade Regulations, investment in infrastructures and logistics as well as strengthening of institutional co-ordinations and enforcements.
| 14 |
Author(s):
Anthony Murunga Ekisa Amoo, Charles M. Rambo (Ph.D.), John M. Mbugua (Ph.D.).
Page No : 146-160
|
Project Environmental Factors, And Performance of Real Estate Development Housing Projects in Kenya; A Case of Real Estate Construction Housing Projects in Busia County, Kenya
Abstract
This study aimed at providing practical strategies for reducing the influence of environmental factors on real estate housing building projects in Busia County. Data for this study was collected via focus groups, interview schedules, and questionnaires. Descriptive and inferential statistics were used to analyze the data. Respondents indicated agreement on a Likert scale that project environmental elements affect the success of real estate building housing projects in Busia County. The data analysis of the research indicated that project environmental variables somewhat impacted the performance of these projects. The research participants' views indicated a strong positive correlation (r=0.779) between Project Environmental Factors and Performance of real estate building housing projects in Busia County, with a statistically significant p-value of 0.000 < α=0.05. This indicates a strong correlation between the two variables, which back the alternative hypothesis and dismisses the null hypothesis.
| 15 |
Author(s):
Tevin-Anyali Chizoba Linda, Callistus Tabansi Okeke, Okaforocha Chika Maureen.
Page No : 161-173
|
The Nexus between Infrastructure Development and Agricultural Growth in Nigeria
Abstract
The study examined the impact of infrastructure development on agricultural growth in Nigeria during the period 1990-2022. Key variables examined include public capital expenditure on economic services (PCEES), employment in agriculture (EMPA), research and development (RD), domestic credit to the private sector (DCPS), and agricultural output. Statistical analysis using the Ordinary Least Square (OLS) technique was employed, along with the Augmented Dickey-Fuller (ADF) unit root test to ensure the stationarity of the time series data, and the Johansen cointegration test to assess the long-run relationship between the dependent and independent variables. Our results show that all variables, except research and development, were stationary at first difference. The Johansen cointegration test conclusively demonstrated the existence of a long-run relationship in two cointegrating equations. Furthermore, the results from the Ordinary Least Squares (OLS) technique reveal that public capital expenditure on economic services, domestic credit to private sectors, and research and development were found to have a positive correlation with agricultural output in Nigeria. Conversely, employment in agriculture (EMA) was identified as having a negative effect on agricultural output in the country. The study recommends increasing investment in public capital expenditures on economic services. Moreover, establishing research institutes focused on agriculture in each state can provide valuable insights and solutions to boost the sector's productivity.
| 16 |
Author(s):
Solomon Audu , Oluwajuwon Olanrewaju, Kelechi Helen Amuzie.
Page No : 174-180
|
Technology and Economic Disparities in the Nigerian Labor Market
Abstract
The main focus of this study was to examine the influence of technology on economic disparities in the Nigerian labor market. The quantitative research method was used and secondary data was collected over an eight-year period which spanned from 2015 to 2022. Simple regression was used to analyze the independent variable (technology) which is proxy by global innovation index on the dependent variable (economic disparity of labor) which is proxy by human development index. The result of this study reveals that technology has an inverse significant influence on human development index. It is therefore concluded that technology innovation has a significant inverse influence on labor disparity in Nigeria. It is therefore recommended that those that constitute labor need to upskill themselves with the use of technology in order to earn more and gain from the opportunities that technology has to offer.
| 17 |
Author(s):
Ejime Herbert Aniemeke.
Page No : 181-196
|
Fuel Subsidy Removal and Macroeconomic Performance in Nigeria
Abstract
The government of Nigeria removed fuel subsidy on the premise that fuel subsidy is a drain on government finances, causes macroeconomic instability, and generates adverse social welfare in the country. The objective of this paper is to examine the effect of fuel subsidy removal on macroeconomic performance in Nigeria. The paper adopts a desk review method and obtains secondary data from the documents of reputable organizations such as the Central Bank of Nigeria, the National Bureau of Statistics, and the Nigerian National Petroleum Company Ltd. Descriptive statistics was employed for the analysis of data. The study found out that the removal of fuel subsidy resulted in the increase of premium motor spirit price across the country generating inflationary trend. It improved revenue generation for government expenditure, curtailed cross border smuggling and corruption inherent in the downstream sector of the petroleum sector. It was based on these findings that the paper recommends a proper coordination of the fiscal policies and the Central Bank of Nigeria to effectively manage the macroeconomic effect of the subsidy removal. It is also important for the government to develop an effective communication strategy to engage stakeholders on the necessity for the subsidy removal and put in place an effective palliative measure to alleviate the attendant adverse conditions that it generated.
| 18 |
Author(s):
Ernest Kay Bakpa , Josephine Adwoa Yeboah.
Page No : 197-208
|
The Role of Foreign Direct Investment on Ghana’s Economic Growth: A Durbin Watson Analysis.
Abstract
Foreign Direct Investment is an investment made by a firm or individual in one country into business interests located in another country. Foreign Direct Investment is considered an important factor in developing an economy, as it raises the technological spillover and competition, and reinforces the production capabilities of the host country. FDI is normally taken or considered to be a major key to economic growth in most economies: developed and developing economies. The study examines how FDI impacted economic growth in Ghana from the period 1998 to 2017 with World Bank data time series data. The study revealed that there is a positive impact of FDI on economic growth in Ghana. The study further tests if the result is autocorrelated by applying the Durbin Watson test after the General method of moment regression has been done. The Durbin Watson test result confirms that indeed, there is a positive correlation between FDI and economic growth.
| 19 |
Author(s):
Joseph Akam Mpuon , Dorothy Oyo – Ita.
Page No : 209-235
|
Marketing Strategies and Supply Chain Performance of Fast Food Outlets in Cross River State.
Abstract
The study examined the role of marketing strategies on supply chain performance of fast food outlets in Cross River State. The specific objectives of the study are; to examine the effect of pricing strategy, packaging strategy, promotional strategy and location strategy on supply chain performance of fast food outlets in Cross River State. In the course of this study, the researchers adopted survey design. Data information for this research work were collected from primary sources. The study employed multiple regression analysis to measure the degree of relationship between variables tested in the article. Findings from the research demonstrated that pricing strategies, packaging strategies, promotional strategies and location strategies have a significant influence on supply chain performance of fast foods outlets in Cross River State. On the basis of the findings from results, the following recommendations were made: marketing managers of fast food outlets should carefully adopt the current research model to effectively implement extensive use of discount pricing, competitive pricing, menu pricing and bonuses inorder to enhance their supply chain performance. With regards to packaging, the marketing manager should design the firm’s offer such that meals that are packaged should be linked to a special event in the customers’ life.
| 20 |
Author(s):
Ogu Eneojo, Martins Emeje.
Page No : 236-242
|
Promoting and Utilization of Nigeria Natural Resources for Economic Development.
Abstract
The development of Nigeria has direct link with her natural resources, what are they and how they are utilized. Following the significance of natural resource to economic development, policies needs to be in place to ensure both short term and long term benefits. Apart from crude oil, the biodiversity sector has rich natural medicinal resource most especially the medicinal plants which is a driving force for development all over the world. Nigeria despite her immense economic promise is in dire need following the fact that unemployment rate remains high at 33.3% and the multidimensional poverty rate is 63%. Nigeria blessed with over 10,000 species of medicinal plants has only utilized less than 20% of its medicinal plant resources. To partake in the fortune of the global medicinal plant market that was estimated to reach $5trn by 2050 and has what it takes to provides economic development to nations, there is every need for the country to promote and utilize her natural resource for economic development. This paper thus explores; natural resources, economic development, natural resource potential for economic development and utilization of natural resources for economic development.
Keywords; natural resources, economic development, utilization, biodiversity, benefits.
