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Author(s):
Editor in Chief.
Page No :
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African Journal of Economics and Sustainable Development, Volume 7 Issue 3, Cover Page
Abstract
African Journal of Economics and Sustainable Development, Volume 7 Issue 3, Cover Page
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Author(s):
Felix Awara Eke, Ihuoma Chikulirim Eke.
Page No : 1-11
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Migrant Remittances and Financial Sector Development: New Evidence from Nigeria.
Abstract
This paper analyzes the impact of remittances on financial sector development in Nigeria using data for more than four decades (1980‐2022). The study applies error correction mechanism because of its ease of implementation, power and robustness as well as its role in explaining stationarity among economic variables. The empirical analysis shows that remittances promote financial sector development during the period with evidence that policies and programmes to improve financial sector in the previous period impacts significantly on the financial sector. The result also show that increases in export and gross national product per capita promotes financial sector development in a positive and significant manner while high inflationary trend is detrimental to financial sector development.
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Author(s):
Praygod Wilfred Chao, Batilda Simon Mwacha.
Page No : 12-24
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The Determinants of Factors Affecting Customer Requisition of Electronic Fiscal Device (EFD) Receipts.
Abstract
This study aims to identify and analyze the factors affecting customers' requisition of EFD receipts in the Kariakoo Tax Region. Specifically, it examines the awareness levels among customers regarding the benefits of EFD receipts, assesses the perceived Value of EFD receipts by customers, explores the impact of legal and regulatory factors on customer requisition behavior, investigates the influence of business reputation and trust on customer EFD receipt requests as well as assess the ease of receipt issuance and its impact on customer behavior. Descriptive statistics were used to collect and analyze data to describe the characteristics of the determinants of factors affecting customers' requisition of EFD receipts. Also, the quantitative approach was used to collect numerical data through surveys to quantify the extent of the determinants' influence. The sample size was based on statistical considerations and the population under study. The researcher develops a structured questionnaire with a mix of closed-ended and Likert scale questions to gather quantitative data and also conducts in-depth interviews with a subset of participants to gather qualitative insights. The results suggest a moderate level of awareness about the benefits of EFD receipts. The Perceived Value of EFD receipts is generally positive, with customers acknowledging their importance in ensuring transparency and compliance with regulations. Also, customers are more likely to seek EFD receipts from businesses with a positive reputation and high trust. On the other hand, businesses that streamline issuing EFD receipts are likely to experience higher compliance rates. The study provides valuable insights for businesses, policymakers, and regulatory bodies to enhance the effectiveness of EFD systems by addressing the identified areas of improvement in awareness, legal compliance, and ease of issuance; businesses can foster greater customer compliance with EFD receipt requests, ultimately contributing to a more transparent and trustworthy business environment.
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Author(s):
Asheikh Alhaji Maidugu (Ph.D.), Peace Onyeyiri Aganbi.
Page No : 25-45
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Impact of Overseas Development Assistance on Economic Growth in Nigeria (1981-2021).
Abstract
Nigeria is currently the largest economy in Africa with a GDP of $477.38 billion (Michael, 2023). However, Nigeria’s great fortune, which is majorly driven by petroleum exports, has not successfully translated into a sustained economic development; as the nation continues to endure widespread poverty and income inequality for decades, due to many contributing factors, including rapid population growth, low standard of education, and corruption. Consequently, Nigeria has looked to Overseas Development Assistance (ODA), as one of many means to address its economic problems, and this ODA phenomenon has raised debates among scholars with regards to its positive or negative impact, and the significance of such impact on the Nigerian Economy. This study investigated the amount of ODA received by Nigeria for the period 1981 – 2021, and the changes that such assistance has effected on the GDP of the nation. The study examined the empirical research by other scholars, for the same study, under a spectrum of economic, geographic and political climates. The Auto Regressive Distributed Lag (ARDL) Bounds Cointegration Test and the Granger Causality test were adopted for this study, and the results revealed that ODA impacted Nigeria’s GDP significantly and positively in the period of study. This study therefore recommends that the Federal Government of Nigeria, as well as other stakeholders, pursue and maintain more favourable relationships with the international multilateral and bilateral donors, in order to boost economic growth in Nigeria.
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Author(s):
Jasson Kabika Domitian.
Page No : 46-56
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Analysis to Unlock Revenue Potentials in the Agriculture Sector in Tanzania.
Abstract
This study explores the untapped revenue potentials within Tanzania's agriculture sector, focusing on strategic analysis to unlock opportunities for growth and development. By employing a comprehensive data-driven approach, the research evaluates current agricultural practices, market trends, and economic factors influencing the sector. The analysis encompasses various subsectors, including crop production, livestock, and agribusiness, highlighting areas with the highest revenue generation potentials. Additionally, the study examines policy frameworks, technological innovations, and investment opportunities that could enhance productivity and profitability. Through secondary data analysis, the findings offer actionable insights for stakeholders, including policymakers, investors, and farmers. The research underscores the importance of rational taxpayer’s registration, improving infrastructure, and fostering a conducive business environment to unlock the sector's full potential. Ultimately, this study aims to contribute to the sustainable growth and transformation of Tanzania's agriculture sector, driving taxation as a stimulus for growth and development.
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Author(s):
Wisdom Akpan, Kingdom Mboho, Udom Daniel, Edidiong Ekoriko.
Page No : 57-70
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Rural Communities and Cooperative Societies: A Community-Based Alternative for Sustainable Socio-Economic Development
Abstract
The worsening economic situation of the country has threatened the socioeconomic development of rural communities and it has become imperative for a socioeconomic alternative that will be both responsive to rural needs as well as stimulate sustainable socioeconomic growth. Cooperative societies are alternative strategies that can foster socioeconomic growth at rural levels, thus building on the spirit of cooperation that is domiciled in the rural areas. Cooperative society is a voluntary association of individuals who come together to meet their common economic, social and cultural needs and aspiration. These societies are based on the principles of self-help, democracy, self-responsibility, equality, equity and solidarity. If effectively utilized, cooperative are vehicles that can bring about sustainable socio-economic development in rural communities especially in the time of worsening economic situation. This paper explores cooperative societies as a vehicle that can bring about the needed socioeconomic development in rural areas through, creation of jobs, raising capital for business and alleviation of poverty. The paper adopted the sustainable development theory as its theoretical underpinning. The study found that cooperatives are instrumental in the sustainability of livelihood in rural communities through the provision of credit facilities, assisting of small businesses to stay profitable, creation of employment etc. The paper recommences rural dwellers should be adequately sensitize on the importance of cooperative and should be encourage to associate with cooperatives so as to derive benefits of cooperatives which can in turn bring about sustainable development.
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Author(s):
Heriel Emanuel Nguvava (Ph.D.), Emmanuel Masalu, Joanarca Julius Caesar.
Page No : 71-81
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The Cause and Effect Relationship of Value Added Tax (Vat) and Gross Domestic Product in Tanzania Main Land.
Abstract
The objective of this study was to assess the cause and effect relationship of value added tax (VAT) and Real gross domestic product (RGDP) in Tanzania. The study adopted quantitative descriptive design. This study used only secondary data collected from Tanzania Revenue Authority (TRA) from the year 2000 to 2021 and National Bureau of statistics (NBS). The time series data gathered were tested for stationarity and analyzed quantitatively through ordinary least square method by using Stata 14 statistical software. The findings indicated VAT [R 2 = 0.9867, Ln (RGDP) =12.21854+0.4133458ln (VAT)] significantly and positively contribute to country’s GDP. A number of recommendations were made from this study, Tanzania should intensify its efforts to collect VAT by providing more education to taxpayers, and improve consistency administration of VAT collection using EFD. It was also recommended TRA to enhance usage of electronic tax filing system in order to improve service delivery and foster accountability by closing off opportunities for revenue leakage and improve voluntary compliance. It was further recommended Policy makers in Tanzania to look on possibilities of reducing VAT rate to 16% so as to reduce distortion on social welfare.
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Author(s):
Obasi Catherine (Ph.D.), Oyakegha Samuel, Okuoyibo Azuka Monday.
Page No : 82-91
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Port Logistics and Supply Chain Management: An Empirical Review.
Abstract
Ports play a critical role in the global economy, acting as vital links within international transportation networks. Their efficiency and effectiveness directly impact the performance of global supply chains. This paper examines the intersection of port logistics and supply chain management (SCM) through an empirical lens. We review existing research to explore how SCM principles can be applied to enhance port operations and overall supply chain performance. The paper begins by outlining the evolving role of ports in today's globalized trade environment. It then delves into the core concepts of SCM and their relevance to port management. The subsequent sections review empirical studies that investigate the impact of SCM practices on port performance metrics such as cost, efficiency, and service quality. We explore key areas like collaboration, information technology (IT) integration, and infrastructure development, highlighting their contributions to improved supply chain visibility and streamlined logistics processes.The review also identifies critical research gaps and proposes future research directions. We emphasize the need for studies that explore the impact of emerging technologies like block-chain and artificial intelligence (AI) on port logistics and SCM integration. Additionally, the paper underscores the growing importance of sustainability practices within port operations and their role in enhancing overall supply chain resilience.
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Author(s):
Lasisi Oparinde Rasheed (Ph.D.), Fijabi Kolawole Lateef.
Page No : 92-105
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Foreign Reserve and Economic Growth: A Comparative Analysis of Nigeria and Ghana.
Abstract
This paper examined the comparative analysis of the effect of foreign exchange reserve on the economic growth of Nigeria and Ghana. The foreign reserve was proxy by country external reserve. While economic growth was equally proxy by Gross Domestic Product. Data extracted for the sampled period were analysed using descriptive and inferential statistics. An ex-post facto research design was adopted for the study. Data were obtained for sixty-four years (64) years’ (1960-2023) from reports of world bank for Ghana and Nigeria. Regression test for the hypothesis was set at a significance level of 5%. The findings showed that external reserve was jointly positive and significant on the economic growth of Nigeria and Ghana (p-value =0.0000; <0.05) and (p-value =0.0000; <0.05) respectively. The findings also showed that Ghana had a stronger positive relationship between external reserve and economic development. The Adjusted R-Square of Ghana and Nigeria Stood at 0.95 and 0.77 respectively. This implied that 5% and 23% are factors outside foreign reserve that are responsible for economic growth. The study recommends that the leaders of the two countries under consideration should pay more attention to developmental policy that will lead to accumulation of reserve, since it enhanced economic growth and currency stability of the two countries
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Author(s):
Seth Kenedi Mbwambo, Ephraim Welnery Mchukwa, Odrano Lucas Mwanana.
Page No : 106-119
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Analysis of Monetary Policy Towards Correction of Balance of Payment Disequilibrium in Tanzania.
Abstract
This study investigates the role of monetary policy in correcting balance of payment disequilibrium in Tanzania using time series data from 1989 to 2022. The data were transformed to natural logarithms for linearity. Autoregressive Distributed Lag (ARDL) model, Unit root test, ARDL Bound cointegration test, and residual diagnostic tests were employed to analyze this data. The study showed that only the inflation rate (CPI) was stationary at level, while the balance of payment (NFA), real effective exchange rate (REXR), money supply (MS), discount rate (DS), and domestic credit to private sector (DCPS) were stationary at their first difference. Further, ARDL showed that only REXR and MS have a long-run positive effect on the balance of payment (BoP), while other variables have short-run effects. The Error Correction Model (ECM) showed a speed of 40% adjustment of BoP each year. The study recommends that BoP disequilibrium be corrected by appropriate monetary policy tools.
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Author(s):
Nimiye C. Morgan , Prince E. Kainga, Victor A. Chukwu , Solomon Ibe.
Page No : 120-130
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Economic Analysis of Fluted Pumpkin Production in Kolokuma/Opokuma Local Government Area of Bayelsa State, Nigeria.
Abstract
The study examines the economic analysis of fluted pumpkin production in Kolokuma/Opokuma Local Government Area of Bayelsa State, Nigeria. A structured questionnaire was used to obtain the required information from the fluted pumpkin farmers. Both descriptive and inferential statistics such as frequency, percentages, mean, stochastic frontier production and budgetary model were used. The results indicate that married female farmers made up the majority of the 38.5% of farmers, with individuals between the ages of 31 and 40 on average. The variables that increased the fluted pumpkin technical efficiency were age, education level, and agricultural experience, according to the stochastic model. Age, farm experience, and transportation all had a significant impact on the production of fluted pumpkins at different probability levels. The total cost incurred was ₦703,453.07. The returns from the study amounted to ₦1,146,295.37, thereby, making the Net farm Income ₦442,841.64. The rate of return on investment (ROI) was 0.65. The return on investment of 0.65 indicates that every N 1.00 naira invested returns N 0.65 to the enterprise. This is an indication of high return. The study identified that inadequate credit facilities, high rate of flooding, insufficient storage facilities, lack of labour/high cost of labour and little or no capital to start were the major problems of fluted pumpkin farmers. It was therefore recommended that the government provide farmers the mean of accessing reasonable price for farm input at the appropriate time.
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Author(s):
Akinbola Taiwo Michael.
Page No : 131-144
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Impact of Youth Unemployment on Economic Growth in Nigeria: A Review Paper.
Abstract
Youth unemployment is a critical socio-economic issue in Nigeria, with far-reaching implications for the country's economic growth and stability. This review paper examines recent research on the impact of youth unemployment on economic growth in Nigeria, synthesizing findings from various studies to provide a comprehensive understanding of the dynamics at play. The paper highlights the significant negative relationship between youth unemployment and economic growth, exploring mechanisms such as reduced productivity, increased social costs, skill atrophy, lower aggregate demand, and discouraged investment. The review also discusses the effectiveness of current policies aimed at mitigating youth unemployment and offers recommendations for new policy interventions. Key challenges and limitations in the existing literature are identified, including gaps in longitudinal studies, regional and gender disparities, and data quality. The paper concludes by emphasizing the need for targeted and sustained efforts to address youth unemployment to foster sustainable economic growth in Nigeria.
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Author(s):
Ekpe Osim James (Ph.D.), Zeal Emmanuel Oriakpono, Imade Emmanuel Oriakpono.
Page No : 145-166
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The Correlation Between the Value of Global Marketing Advertisements and Nigeria’s Balance of Trade Performance.
Abstract
This study assesses the relationship between the value of global marketing advertisements and nigeria's balance of trade performance. The dependent variable, Nigeria Trade Balance NTB, while the independent variable was proxies were Global advertisement market value GAMV, Global inflation rate GINFR and Global interest rate growth GIR. Secondary data was utilized, 2018 – 2023. The research employed descriptive statistics, Augmented Dickey-Fuller (ADF), and Ordinary Least Square (OLS) at a 5% significance level. Results: R= 0.953, adjusted R= 0.883, indicating a strong fit of the model to the data. It was recommended that, Nigeria should diversify marketing strategies to include local and regional campaigns, digital marketing, and influencer partnerships, mitigate global inflation impacts, Nigeria should diversify exports, stabilize the naira, increase forex reserves, and strengthen trade ties and to counter global interest rate effects, Nigeria should invest in less sensitive sectors, enhance financial resilience, promote fixed-rate financing, and foster domestic investment.
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Author(s):
Arikenbi Peter Gbenga , Ikharo Seluman, Ekwemalor Nonso Fortune, Agbaka Joyce Oroboghene.
Page No : 167-182
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Social Media and ‘Japa’ Syndrome: Exploring the Roles of Online Platforms in Shaping Migration Trends.
Abstract
Social media platforms have emerged as influential players in shaping japa trends, offering a dynamic space where individuals explore, discuss, and navigate migration pathways. By providing unprecedented access to information, facilitating networking and connections, showcasing aspirational lifestyles, and amplifying migration narratives, social media platforms exert significance influence on individuals’ migration trajectories. In the light of the above, this study examines social media and japa syndrome by exploring the roles of online platforms in shaping migration trends. The study was anchored on the uses and gratification theory, and data were collected using the desk research method. Findings reveal that social media has significantly altered the landscape of communication and information dissemination globally, including Nigeria. The study also reveals that online platforms play a crucial role in shaping migration trends and aspirations by influencing individuals’ perceptions, providing access to information, and facilitating connections with diaspora communities and potential destinations. Based on the findings of this study, it was recommended that online platforms should implement robust mechanisms to verify the accuracy and credibility of migration-related information shared on their platforms. This can involve partnering with reputable organizations such as international agencies, academic institutions, and government bodies to ensure that users have access to reliable and up-to-date information about migration processes, policies, and destinations.
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Author(s):
Humphrey Mwandawiro Mwambeo, Lydiah N. Wambugu, Raphael O. Nyonje, James T. Kariuki.
Page No : 183-194
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Income Generating Initiatives and Sustainability of Projects in Kenya.
Abstract
This study explored the extent to which income generating empowerment initiatives influences sustainability of projects. Income generating initiatives are aimed at creating wealth and improving livelihoods. Such initiatives can be found in all sectors of the economy. This study took place in Voi sub-county, Kenya. It targeted eight projects implemented between 2006 and 2015. Quantitative data was collected from 4,138 household heads, while qualitative data was collected from 14 staff from two NGOs and four (4) Staff from Kenya Forest Service (KFS). Decision to collect quantitative data from 365 respondents resulted from use of Yamane formula. Six respondents purposively selected provided qualitative data. Other sampling techniques used were systematic and cluster sampling. The F-ratio obtained was F (1,351) = 161.955; p < 0.05. Null hypothesis was rejected. The conclusion of the study was that income generating initiatives positively supports sustainability of projects.
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Author(s):
Bolaji Jubril .
Page No : 195-201
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Interrogating Regional Partnership among Youth Entrepreneurs in Africa to Fulfill Sustainable Development Goal Seventeen.
Abstract
This study aims at addressing the regional partnership among young entrepreneurs in Africa in meeting Sustainable Development Goals through technology, trade, finance, and capacity building. A qualitative research method was adopted during the study. Many African youths indulge in entrepreneurship after graduating from colleges and universities due to a lack of employment on the continent. Second, Africa needs more capacity-building workshops and seminars regionally to enlighten the youths on the importance of being an entrepreneur and molding them towards the path. Third, some youth entrepreneurs are unaware of the SDGs among the participants interviewed. Finally, regional capacity building has empowered many youth entrepreneurs in Africa. The study was limited to three countries in sub-Saharan Africa. Therefore, the generalised study results about Africa are only limited to a few African nations. It was challenging gathering data as most participants were adamant about providing information on camera. Some participants altogether felt uncomfortable participating in the research.
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Author(s):
Ernest Jebolise Chukwuka (Ph.D.), Kashiari Esther Dibie (Ph.D.).
Page No : 202-220
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The Nexus Between Leadership Style and Performance of Small and Medium Scale Enterprises in Nigeria.
Abstract
The right leadership style can facilitateemployees motivation, inspiration, and persuade them to accomplish their individual and organizational goals with the support of management. Many SMEs in Nigeria do not include their staff in the decision-making process due to a lack of strong leadership abilities, which hinders their capacity to flourish. This study investigated how the leadership styles of SME in Asaba, Delta State impacts the organizational efficiency of those businesses. The study gathered information from SME managers and owners using a cross-sectional survey research methodology. The study found a weak but positive nexus between authoritarian leadership style and performance of SME. The study also discovered that the performance of SMEs in Delta State is significantly impacted by democratic leadership style. As a result, it may be concluded that a democratic leadership style impacted positively on SME performance in Delta State at the rate of 17%. Finally, the study concludes that laissez-faire leadership has the highest positive impact on the performance of SMEs in Delta State. This indicated that laissez-faire leadership had the most significant impact amongst the three leadership styles or philosophies examined. It showed that Delta State's small and medium-sized firms would perform 48% percent better for every 1 percent increase in Laissez-Faire leadership. Therefore, this study recommends that in SME management, a laissez-faire leadership style should be applied in appropriate situations to foster creativity.
