Nigeria

Impact of Primary Mortgage Institutions’ Investments on Economic Growth in Nigeria (1995-2017) (Published)

The study examined the impact of primary mortgage institutions’ investments on economic growth in Nigeria; for the period 1995-2017. Secondary data were used and collected from Central Bank of Nigeria Statistical Bulletin. The study employed Gross Domestic Product as proxy for Economic Growth and used as the dependent variable; whereas, Primary Mortgage Institutions Investment, Primary Mortgage Institution Deposit, Primary Mortgage Institutions’ Loan and used as the explanatory variables. Hypotheses were formulated and tested using Ordinary Least Square econometrics techniques.  Primary mortgage institutions’ investments had asignificant impact on Gross Domestic Product in Nigeria. Primary mortgage institutions’ deposithad a significant impact on Gross Domestic Product in Nigeria. Primary mortgage institutions’ loan had a significant impact on Gross Domestic Product in Nigeria. The coefficient of determination indicated that about 68% of the variations in economic growth can be explained by changes in primary mortgage institutions’ investments variables in Nigeria.The study concluded that primary mortgage institutions’investments had a significant impact on economic growth in Nigeria.The study recommended that the Federal Mortgage Bank of Nigeria should relax some of the regulations guiding the operations of the PMIs and liberalize the subsector for more effective performance. The primary mortgage institutions should redirect major parts of their loan able funds to building and renovation of residential buildings instead of concentrating on commercial buildings and neglecting residential properties. Such redirection is expected to increase their impact on provision of housing and enhance their contributions to real estate development in Nigerian economy. Allocation under the Land Use Act of 1978 that has made land acquisition more difficult should be readdressed. The delay in getting Certificate of Occupancy is a major problem. Government should review or repeal the Act to enable easy land acquisition by individuals.

Keywords: Economic, Growth, Institutions, Investments, Nigeria, Primary Mortgage

Corporate Governance and Return on Assets of Quoted Banks in Nigeria (Published)

This study examined the influence of corporate governance on return on assets of quoted banks in Nigeria. The study used secondary data from 2013 to 2017.Data sourced from selected Annual Report and Accounts of three Quoted banks by the Nigerian Stock Exchange. The study utilised both Descriptive Statistics and Ordinary Least Square-Multiple Regression method with the aid of using E-view 9 to analyse the data. The results shown that, the corporate governance has significant influence on return on assets as (F-statistics = 23.46, P <0.05). The results further indicate that, the proportion of shareholders more than 10,001 share, board of composition size and bank size exerts a positive and considerable relevance to return on assets of quoted banks in Nigeria and bank size has significant influenced on return on assets with (β=2.09, t=3.94, p<0.05). Findings suggest that board of directors size of quoted banks in Nigeria should not be too large and must be meeting regularly to effectively and efficiently carry out their oversight functions and responsibilities

Keywords: Banks’, Corporate Governance, Multiple Regressions, Nigeria, Return on Assets

Effect of Relationship Marketing and Relationship Marketing Programs on Customer Loyalty (Published)

This study examines the relationship between relationship quality and customer loyalty. Specifically, the study seeks to investigate the influence of customer trust, satisfaction and commitment on loyalty and to ascertain the effect of the relationship marketing program adopted by pension firms on customer loyalty. Regression analysis is used to test the model based on data obtained from a sample of 354 customers of pension service firms from Nnamdi Azikiwe University, Awka. Anambra state. The results provide evidence to support the effect of customer trust and satisfaction on customer loyalty. The contribution of commitment to the model is not supported. Additionally, support was found for the effect of relationship marketing program on loyalty. Firms may consider building relationship with customers by engendering a feeling of trust; invest in customer satisfaction and recruit and train socially, and service oriented frontline employees to create strong ties with customers.

Keywords: Commitment, Nigeria, Pension, Relationship Marketing, Satisfaction, Trust

Effect of Petroleum Profit Tax on Economic Growth in Nigeria (Published)

The study examines the effect of petroleum profit tax on economic growth of Nigeria. Income from petroleum taxes is the proxy for PPT while economic growth was measured using Gross Domestic Product (GDP). The research adopted expos-facto research as secondary data were used for the analysis. Data were sourced from the Central Bank of Nigeria Statistical Bulletin and the Federal Statistical Bureau. The study covered twelve year period (2004-2015). Time series data were analyzed using the simple linear regression.  The results reveals that  PPT had positive and significant effect on Nigerian GDP. The study recommends that the government should provide the necessary human and material infrastructures that are needed to support petroleum business so they can earn more income that will boost taxation.

Keywords: Gross Domestic Product, Nigeria, Petroleum Profit Tax, economic growth

Effect of Intellectual Capital on Corporate Valuation of Quoted Pharmaceutical Firms in Nigeria (Published)

This study examined the effect Intellectual Capital(IC) can affect corporate valuation of firms quoted in Nigeria. The study adopted the Panel Research Design as used Time Series and Cross-Sectional Data. Data covered a ten- year period (2004-2013). Simple Random Sampling was employed in selecting firms for this study.   Data were sourced from the firms’ annual financial statements using content analysis approach. Market valuation data were sourced from the Nigerian Stock Exchange. Intellectual Capital(Independent Variable) was measured using Human Capital Efficiency (HCE), Structural Capital  Eficiency(SCE) and Capital Employed Efficiency (CEE). Market to Book Value Ratio(M/BV) and  Earnings per Share(EPS). The study adopted the Value Added Intellectual Coefficient (VAIC) Model as developed by Pulic(1998) to examine the effect of  Intellectual Capital on  firms’ values. Multiple Regression Correlation Analysis was used on the data at 5% level of significance. E-View Statistical Tool version 8.0  was used in the analysis. The results reveal that Human Capital Efficiency has a positive and significant effect on Market/Book Value. SCE has a negative and insignificant effect on M/BV; CEE has negative and significant effect on M/BV; positive and insignificant effect on EPS. In view of our findings, the study recommends that companies should invest substantial part of their earnings on human capital via knowledge development as such investments are capable of stimulating the value creation potentials of their staff and can get investors  place higher premium on them.

Keywords: Corporate Valuation, Intellectual Capital, Nigeria, Pharmaceutical Firms

Personality Characteristics and Employee Affective Commitment: Nigeria Experience (Published)

This study investigates the relationship between personality characteristics and organisational Affective Commitment of Bank employees in Nigeria. The sample consisted of two hundred and ten (210) respondents from ten (10) purposively selected area offices of banks in Port Harcourt. The Spearman’s Rank Order Correlation Coefficient Statistical Technique in Statistical Package for Social Sciences (SPSS) was used for the analyses of data. It was revealed that a positive and significance relationship exist between the five facets of personality characteristics and Affective commitment. These outcomes show that managers have the responsibility of devising ways to understand and effectively manage personality traits of their employees as each of these facets have potentials to be low or high that yields different results to the organisation. Banks should adopt personality tests at employment interview points to enable them identify employees whose talents can be optimised at work.

Keywords: Characteristic, Commitment, Employee, Nigeria, Personality

Problems and Prospects of Poverty Alleviation Programmes in Nigeria (Published)

Several poverty alleviation programmes in Nigeria, initiated by both the Government and Non-Government Organisations (NGOs), aimed at combating and alleviating poverty, have been found not to be successful. Instead of reducing the incidence of poverty, which is their sole aim, these programmes tend to serve as means for draining the national resources due to the pursuit of parochial interests, as a result fostering corruption and dishonesty. For a successful implementation of these programmes, the government and the implementation agencies must take a more proactive approach and specifically look into the area of poor management and poor accountability, among staff. Also poverty is a multidimensional issue, hence cannot be fought focusing only on one sector of the economy, strategies for poverty reduction must also be multidimensional, focusing on all sectors, as well as, on the emancipation of the poor. Strengthen the existing poverty alleviation strategies and ensuring good management could be one major way towards the effective performance of existing poverty alleviation programmes.

Keywords: Nigeria, Poverty, Poverty Alleviation, Poverty alleviation programmes

Job Satisfaction in North East Nigeria: A Descriptive Study on Government Sector Employees (Published)

The paper deals with the attitudinal elements of job satisfaction among government employees of North Eastern Nigeria. Job satisfaction is a key issue worldwide as it affects the productivity and overall growth of an organization. To investigate the effects of myriads factors of job satisfaction and various other independent variables on overall job satisfaction of employees, the study drew participants through convenience sampling. The results were analyzed through statistical procedures like Cronbach’s Alpha, Simple regression, Pearson correlations (bivariate) and K independent samples median test along with simple means, standard deviation and percentages. Organizational prestige emerged as the most satisfying aspect among the participants, while except age, education and gender played no role in job satisfaction among the employees of this region.

Keywords: Employees, Government Sector, Job Satisfaction, Nigeria

The Impact of the Nigerian Business Environment on Company Performance: A Case of 20 Most Capitalised Companies in Nigeria. (Published)

There is a theoretical agreement that the environments within which businesses operate have great bearing on their performance. This research shows the empirical standing of this theoretical convergence with respect to the 20 most capitalized companies in Nigeria. Using the Ordinary Least Square and simple multiple correlation methods, we show the impact of the Nigerian business environment on the performance of these companies. Collectively, the variables of the environment have significant and positive impact on the companies’ performance. Government expenditure and inflation have positive impact while exchange rate and interest rate have negative impact but on the whole there was a positive and significant impact. Amongst the recommendations are that Government should pay more attention to capital expenditure on vital sectors like infrastructures and education while maintaining fiscal stability. The private sector should partner with Government in infrastructural investment instead of each company providing its own infrastructures.

Keywords: Company Performance, Nigeria, Nigerian Business Environment

IMPACT OF LIQUIDITY MANAGEMENT ON THE PERFORMANCE OF AGRIBUSINESS SECTOR IN NIGERIA (1978-2013) (Published)

The performance of the agro-industrial sector in terms of output and exports is of great importance in Nigeria, and the influence of liquidity management is of essence in assessing its growth and development. Therefor this research work is on determining the impact of liquidity management on the performance of agribusiness sector Nigeria (1978-2013). The data used was sourced from the central bank of Nigeria (CBN) statistical bulletin, and were analysed using multiple regression analysis statistical technique. The findings of the study revealed thatliquidity management had a strong bearing on the performance level in the agro-industrial sector in Nigeria.Liquidity management, value of ACGSF loans to agribusiness subsector, government capital expenditure on agriculture, value food import, and rainfall significantly determined agribusiness output in Nigeria within the period under review and based on the specified model. Liquidity management, aggregate producer’s price, agribusiness output and aggregate world price of commodity index significantly determined quantity of agribusiness export in Nigeria within the period of study and based on the specified model.It is recommended that the government should display a high sense of commitmentin its liquidity management to bring about a realistic performance in the agribusiness sector.Farm support policies such as subsidization of agribusiness inputs to produce the desired multiplier effects on agribusiness and food production and the provision of yield increasing technologies are expedient in ensuring that the agricultural sector received the desired boosts and acceleration that it required to meet the food demand of the populace and are hence advocated. Output price incentive scheme is recommended but should not be designed as a welfare scheme rather emphasis of the scheme should be the attainment of the objectives of increasing agribusiness output and export in Nigeria within the possible short period of time.

Keywords: Agribusiness Sector, Liquidity Management, Nigeria, Performance