Empirical Investigation of Human Capital Investments and Its Effect on Economic Growth In Nigeria (1990-2017) (Published)
The study examined the empirical investigation of human capital investments and its effect on economic growth in Nigeria; for the period 1990-2017. Secondary data were used and collected from Central Bank of Nigeria Statistical Bulletin. The study used Gross Domestic Product (GDP) and was employed as the dependent variable to measure the human capital investments on economic growth in Nigeria; whereas, government expenditure on health and government expenditure on education were also used as the independent variables to measure human capital investments in Nigeria. Hypotheses were formulated and tested using Ordinary Least Square econometrics techniques. The study showed that government expenditure on education had a significant effect on Gross Domestic Product in Nigeria. Government capital expenditure on health sector had a significant effect on Gross Domestic Product in Nigeria. The coefficient of determination indicated that about 69% of variations in Gross Domestic Product can be explained by changes in government capital expenditure variables in Nigeria. The study concluded that human capital investments had a significantly effect on economic growth in Nigeria. The study recommended that Government should ensure proper management of human capital expenditure in a manner that will promote growth and development in the economy. The government and policy makers should increase its investments in health and education; since, it would increase the level of development in the economy as well as the standard of living. Government should encourage and manage the funding of the education and health sectors. The policy makers should ensure that appropriate evaluation techniques should be used for projects that will ensure that capital expenditure is not made in an extravagant manner.
Keywords: : Human Capital, Investigation, Investments, Nigeria, economic growth
Impact of Safety Management Strategy on the Performance of Employees in Ashakacem Plc, Nafada-Bajoga, Gombe State-Nigeria (Published)
This study examines the impact of safety management strategy on the performance of employees in Ashakacem PLC. The main objective is to determine how safety management strategy of Ashakacem impact on employee’s performance. The study employs the use of both primary and secondary sources of data from different cadres of employees (managers, middle level, low level) and contract staff including distributors and customers of the company. The data were analyzed using Simple Percentages and Chi-square to test the formulated hypotheses which reveals that, “effective safety management strategy impact positively on the performance of employees”, particularly in the areas of the provisions of personal protective safety equipment and enforcement of safety laws such as the provision of fire extinguishers, first aid facilities, hand gloves, mouth and Norse guard, dielectric safety boot and thermal socks, head gear kits, dielectric hard hat, high and medium energy goggle, Lab Coat etc. These have the most significant impact on employee’s performance while the establishment of factory Clinic for staff and seminar/safety talks and enforcement of ground safety rules has the least impact. Some recommendations were made; among which is the need for effective monitoring and evaluation of all safety measures in line with the ground safety rules to ensure safe and healthy working environment for effective performance. The study concludes that the company’s protective wears are of certified international standards made to be comfortable-to-wear, permanently flame-resistant and arc-rated material protecting workers against the thermal effects of both electrical arc flash and toxic materials arising from the factory production processes and procedures which is dependent on company’s strategic safety management policy and formation combined with excellent decision-making exercise that help in reducing employee’s risks conditions to the barest minimum level.
Keywords: Ashakacem Plc, Nigeria, Performance, Strategy, safety management
Research and Innovation Strategies for Economic Competitiveness and Industrial Growth: Lessons for Nigeria (Published)
One of the leading unrealized opportunities in Nigerian industrial organizations is the full influence of research ideas and knowledge to transform business products and processes into long-term innovation. Business research and innovation contribute significantly to improvement in enterprise productivity and quality and in the integral components of business strategy and success. Drawing heavily from published literature, this paper highlights the enormous benefits of continual research and innovation on national economies, and proffers recommendations on how Nigeria could key into this concept to promote its economic competitiveness at the global level.
Keywords: Competitiveness Industrial Growth, Economic, Innovation, Nigeria, Research, Strategies.
Effect of Sustainability Accounting and Reporting on Financial Performance of Firms in Nigeria Brewery Sector (Published)
This paper evaluates the effect of sustainability accounting on the financial performance of listed manufacturing firms in Nigeria. Firms used for the study were chosen from the Nigerian brewery sector. Data were sourced from the financial statements of three sampled firms. Data were analysed using the ordinary linear regression. The study reveals that sustainability reporting has positive and significant effect on financial performance of firms studied. Following the findings, the study recommends that firms in Nigeria should invest reasonable amount of their earnings on sustainability activities while specific accounting templates be articulated by professional accounting regulating bodies to guide firms’ reportage on sustainability activities. The Financial Reporting Council of Nigeria (FRC) and others alike should make sustainability reporting compulsory while adequate sanctions are spelt out and enforced on defaulting organizations to serve as a deterrent
Keywords: Financial Performance, Nigeria, Return on Assets, Return on Equity, sustainability accounting
Customer Relationship Management and Profitability of Money Deposit Banks In Nigeria (2006 – 2015) (Published)
The study investigated the customer relationship management and profitability of money deposit banks in Nigeria from 2006 to 2015. Ten banks out of twenty one functioning banks were selected for the study. The specific objective was to ascertain the extent to which bank CRP affect the TR and PAT. Secondary data employed were from the annual reports from banks published in the NSE website. Multiple regression analysis and student t-test were the statistical tools employed, with the use of SPSS for both data analysis and to test the hypotheses formulated for the study at 5% level of significance. The result indicated that CRP has a significant relationship with the total revenue of banks with little or no impact. Since the impact on TR is not much, its relationship with PAT is not significant while the impact is negative. The study therefore concludes that if banks can give more attention to customer relationship management, the revenue base (income from customers) will have a boost and operating overhead will not absorb all the income. As a result, there will be enough retained profit to pool back (reinvest) into the business.
Keywords: Banks’, Customer Relationship Management, Nigeria, Profit after tax, total revenue
RESEARCH AND INNOVATION STRATEGIES FOR ECONOMIC COMPETITIVENESS AND INDUSTRIAL GROWTH: LESSONS FOR NIGERIA (Published)
One of the leading unrealized opportunities in Nigerian industrial organizations is the full influence of research ideas and knowledge to transform business products and processes into long-term innovation. Business research and innovation contribute significantly to improvement in enterprise productivity and quality and in the integral components of business strategy and success. Drawing heavily from published literature, this paper highlights the enormous benefits of continual research and innovation on national economies, and proffers recommendations on how Nigeria could key into this concept to promote its economic competitiveness at the global level.
Keywords: Economic Competitiveness, Industrial Growth, Nigeria, Research and Innovation Strategies
THE ERA OF POST-CONSOLIDATION AND BANKS’ PROFITABILITY IN NIGERIA (2000- 2013): A MULTIVARIATE CO-INTEGRATION ANALYSIS (Review Completed - Accepted)
The paper examined the relationship between the era of post-consolidation and banks’ profitability in Nigeria using data spanning (2000-2013). Secondary data was collected from the CBN statistical and economic and financial review bulletins. Hypotheses were formulated and tested using error correction model (ECM) and the study reveals that the variables are stationary and integrated of order at various levels. There is also long-run equilibrium relationship between the era of post-consolidation and banks’ profitability in Nigeria and the result confirms that about 62% short-run adjustment speed from long-run disequilibrium. The coefficient of determination indicates that about 27% of the variations in banks’ profitability are explained by changes in the era of post-consolidation variables. The study therefore recommends that bank management should strengthen their supervising units in credit administration to avoid the issue of non-performing load. For Nigeria banks to be a major player in domestic and international market, banks capital should be above minimum regulatory requirements at all times. Shareholders’ funds and total assets of banks should be periodically evaluated and aggregate marketing should be vigorously intensified by the banks
Keywords: Banks’, Era, Nigeria, Post-Consolidation, Profitability
EMPIRICAL ANALYSIS OF MULTINATIONAL CORPORATIONS AND ECONOMIC GROWTH IN NIGERIA (1990-2013). (Review Completed - Accepted)
The paper attempts to evaluate the relationship between empirical analysis of multinational corporations and economic growth in Nigeria using data spanning (1990-2013). Secondary data was collected from the CBN statistical bulletin and national bureau of statistics. Hypotheses were formulated and tested using time series econometrics and the study reveals that the variables do not have unit roots. There is also long-run equilibrium relationship between economic growth and multinational corporations and the result confirms that about 73% short-run adjustment speed from long-run disequilibrium. The coefficient of determination indicates that about 62% of the variations in economic growth is explained by changes in multinational corporations variables. The study therefore recommends that multinational corporations should make life meaningful to the host country by providing infrastructural facilities. Government should ensure that multinational corporations plough back part of their profits to the development of the host communities in other to established good working relationship. Federal environmental protection agencies should also ensure effective monitoring of multinational corporations to avoid the violation of the lay down rules and regulations guiding their operations.
Keywords: Economic, Empirical Analysis, Growth, Multinational Corporations, Nigeria
FOREIGN EXCHANGE MANAGEMENT AND THE NIGERIAN ECONOMIC GROWTH (1960 – 2012) (Published)
The study examined foreign exchange management and the Nigeria economic growth from 1970 to 2012. The scope of the study is limited to Nigeria. The empirical model for the study was based on the conclusion of our theoretical framework. The data used for this study were majorly sourced from the Central Bank of Nigeria Bulletin (2011). The ordinary least square estimation techniques within the error correction model (ECM) framework are employed in the study. The choice of the ECM is to enable it account for the explanatory potent of the regressions in both the short run and long run as well as ascertaining the dynamics of attaining long run equilibrium, an issue which is the key to studies related to macroeconomics variables one of which is the exchange rate. The Johansen-Joselius Co- Integration test is employed in this study, to test for the presence of a long run relationship between the dependent variable (exchange rate) and the independent variables. The result of the co-integration as revealed show that trace statistics and maximum eigen values are greater than the critical values at 5% level of significance. It shows that there is a unique long run relationship among Y, EXCR, EXPT,IMP, INF and FDI. The result further shows that the explanatory variables explain and account for about 99% of variation in economics growth peroxide by GDP, which is an evidence of a good fit of the model. The f- statistics shows that the explanatory variables are jointly significant in explaining economic growth (dependent variable). The result above shows export and foreign direct investment are statistically significant in determining economic growth which considered at 5% and 10% respectively. However, exchange rate import and inflation are found to be statistically non – significant. It is against this back drop of the above findings, that it is recommended that effort be made to increase the consumption of made in Nigeria goods, which includes the usage of raw material that can be sourced locally by Nigerian industries in order to increase foreign exchange earnings. The implication of this is that local industries should be encouraged to look inward for their raw material. Having uncovered from the study that the nexus between economic growth and foreign exchange management being a short run relationship, it is necessary that the foreign exchange management policy initiatives be made to satisfy the shorts–run behavioral expectations of the variables used in uncovering this fact.
Keywords: Foreign Exchange, Nigeria, economic growth
Management of Amnesty Programme for Sustainable Livelihood in the Niger-Delta Region of Nigeria: Challenges and Policy Action (Review Completed - Accepted)
Many years of deprivation, marginalization and cheating of the Niger Delta Region of Nigeria led to the youth in attempt to find solution to the neglect formed themselves into groups which became aggressive as a result of the use of arms in approach and operation that brought about a near chaos environment in the region. As a response to curb the deplorable security situation in the region, the federal government of Nigeria initiated and pronounced the Niger Delta Amnesty Programme (NDAP). This study attempted to assess the success of the amnesty programme to deliver a sustainable livelihood for the repentant ex-militants and restore peace and security in the region. The study employed questionnaire and interview methods randomly administered in three of the nine states of the region. The study observed reoccurrence of crime, high consumption of illicit drugs, threat to local government council executives and intra/inter cult conflicts among others in the region. Its recommendations included decentralization of the amnesty rehabilitation camps and adoption of definite goals for the amnesty programe in order to achieve sustainable peace and livelihood in the region
Keywords: Amnesty, Niger-Delta, Nigeria, Sustainable Development, Sustainable Livelihood