Domestic Private Investment and Selected Macroeconomic Indicators in Nigeria:An Econometric Analysis (Published)
Domestic private investment (DPI) plays significant role in economic growth of any economy. It helps in mobilizing domestic resources for socio-economic advancement. Domestic Investment and its determining factors remains one recalling issues in the field of economics and international finance. This is based on the fact that aggregate investment plays a dominant role in stimulating economic growth and development of every nation. However, most of the developing and underdeveloped economies have witnessed low domestic investment and consequently slow economic growth. Therefore, this study investigates the relationship, trends, and impact of domestic private investment and selected macroeconomic indicators in Nigeria, a developing economy. The study analyzed data gotten from the CBN Statistical Bulletin for the duration of 1991-2020. The statistical package used for the study is Econometric Views (E-Views 9.0). Multiple regression techniques via OLS, Augmented Dickey Fuller (ADF) test and Granger causality procedure was applied to determine causalities while Johansen Co-integration test was administered to verify sustainability of the long-run relationships. The result revealed that there exist short and long-run relationships between domestic private investment and key macroeconomic variables- Inflation, Lending rates, gross domestic savings, real gross domestic product, money supply in Nigeria. Vector error correction model was also adopted to determine the speed of adjustment between the independent variables and the dependent variables. The OLS result revealed that there exist a positive and significant relationship among GDSA, BMOS, RGDP and PDIV, negative and significant relationship among PLER, INFR, and PDIV. Therefore, the study recommends among others that Nigerian government must be resolute in their resolve to drive private domestic investment in the country by implementing appropriate monetary and fiscal policies that address inflation, interest rate, domestic savings and money supply. This will no doubt fast track inclusive growth.
Keywords: Economy, Interest Rate, private domestic investment
Effect of the Endsars Protest on the Nigerian Economy (Published)
The study examined the Effect of the EndSars Protest on the Nigerian economy; with specific set objectives to find out the causes of the EndSars protest in Nigeria; ascertain the effect of the EndSars protest in Nigeria and proffer possible solutions to the causes of the EndSars protest in Nigeria. The study adopted the structural-functionalist theory and used the survey research method given the work coverage. Thus, the method of study was qualitative. Data were generated from secondary sources which included journal articles, news papers and other online sources. Literature review however shows that, SARS is notorious for its brutality and human rights abuses and the lack of accountability for their actions while the Nigerian economy suffered huge losses of billions of naira resulting from the protest. The Police Act, which was adopted in 1943, has broad discretionary powers in the hands of police officers,making the abuse of power possible. The study concludes that, EndSars protest has left memories not just on the Nigerian people and her economy but on the global community on issues of police brutality in Nigeria. The study therefore recommends that, state governments, in collaboration with security agencies and other stakeholders (Civil Society Organizations and traditional/religious institutions)should create avenues for interaction with the general populace and listen to the millions of voices calling for police reform; there should be great transformations in relationships between the police and communities and the Federal and State Governments should invest in youth employment to create sustainable economic opportunities foryoung people in the country thereby, growing the economy.
Keywords: Corruption, Economy, EndSars, Good Governance, Protest, police brutality