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
CROSS-BORDER MERGERS AND ACQUISITION AND INTERNATIONAL BUSINESS PERFORMANCE OF NIGERIAN MANUFACTURING FIRMS (Published)
The purpose of this study was to investigate the strategic motives for cross-border mergers and acquisitions, as well as, examines specific relationships between these strategic motives and international business performance (IBP) of Nigerian manufacturing firms that have implemented international mergers and acquisition as a strategic imperative in the past one decade. 462 senior and management staff of 13 Nigerian manufacturing companies, quoted on the Nigerian stock exchange was randomly selected from a business-to-business database maintained by a national list provider. Using the integrated conceptual framework of cross-border entry strategy by Du and Boateng (2012), factors manifesting international business performance were regressed on the strategic motives for Cross-Border Mergers and Acquisition (CBM&As). Findings based on the survey revealed that strategic motives positively affected international business performance of Nigerian manufacturing firms involved in CBM&As. Overall, the paper argue that an institution-based motive of CBM&As, in combination with transaction cost-analysis, resource-based views, and internalization views will not only help sustain a strategy tripod, but also shed significant light on the most fundamental questions confronting motives for cross-border mergers and acquisition. Hence, a model incorporating the key elements of each approach could present a more realistic and comprehensive picture of CBM&As strategies. The model also provides predictive implications on improved international business performance, given the activities of the strategic motives for CBM&As by Nigerian manufacturing firms.
Keywords: CBM&As, Cross-border Mergers and Acquisition, Institutional Theory, Internalization theory, International Business performance, Manufacturing Firms, Nigeria, Regression Analysis, Resource-Based View, Transaction Cost Analysis
WORKFORCE DIVERSITY MANAGEMENT AND CORPORATE PERFORMANCE OF FIRMS IN NIGERIA (Published)
This Study empirically examined the nature of the relationship between Workforce Diversity Management and Corporate Performance of manufacturing firms in Nigeria. Despite efforts aimed at optimizing the performance of firms in Nigeria, a nation of many diverse people, not much appears to have been achieved. To address this lacuna, primary data was collected from Forty-two registered firms in South-South Nigeria using a five-point Likert-type scale questionnaire and personal interviews. The Spearman Rank Order Correlation Coefficient at 95% confidence level and the Hierarchical Multiple Regression model were used to analyse the data. The findings revealed that the apparent low performance rate of the Study firms may be traceable to poor management of surface and deep level diversity. To optimize Corporate Performance therefore, it was recommended that managers should ensure that employees are “not at all” disturbed by issues bothering on diversity as raised in this paper
Keywords: Ethnicity, Gender, Nigeria, Workforce diversity
Corporate Governance Structure and Timeliness of Financial Reports of Quoted Firms in Nigeria (Review Completed - Accepted)
This paper examines the impact of corporate governance on the timeliness of financial statements of quoted firms in Nigeria. To achieve this objective, data was collected from books, financial statements and journals. The data collected were analysed using relevant diagnostics tests, granger causality and multiple regression models. The result revealed a significant relationship between board independence and timeliness of financial reports; board size and timeliness of financial reports; board expertise and knowledge and timeliness of financial reports; board experience and timeliness of financial reports; also no significant relationship between CEO duality and timeliness of financial reports and board meetings and timeliness of financial reports. On the basis of the empirical result, the paper concludes that the application of appropriate corporate governance factors will go a long way to improve the timeliness of financial reports and quality financial statements Therefore, on the basis of the findings and conclusions of the study, we recommends that quoted companies should ensure that corporate governance codes are used in the day-to-day operations of corporation to achieve short, medium and long-term goals; government should ensure that regulatory agencies monitor the activities of corporations to ensure compliance with best practice. Also above all integrity, objectivity and fairness must be applied in the conduct of corporate business for financial statement needs be achieved for users
Keywords: Boards, Corporate Governance, Financial Report, Nigeria, Timeliness
Factors Influencing The Internationalization Of Nigerian Manufacturing Firms:An Empirical Analysis (Published)
The purpose of this study was to investigate the Critical Decision Factors (CDF) of internationalization by Nigerian manufacturing firms, as well as, examines specific relationships between these CDF and Perceived International Business Performance Measure (PIBPM). 566 management staff of 14 Nigerian manufacturing companies, with international presence was randomly selected from a business-to-business database maintained by a national list provider. Using the integrated conceptual framework of international business strategy by Peng (2006), factors manifesting PIBPM were regressed on the CDF, manifesting successful internationalization. However, multivariate analyses was mathematically represented in a single equation, and this equation is expected to be used by Nigerian manufacturing companies in composing strategies to optimize their management of international entry decisions and international business performance. Overall, the paper argue that an institution-based view of international entry decision, in combination with transaction cost- and resource-based views, will not only help sustain a strategy tripod, but also shed significant light on the most fundamental questions confronting international entry decisions. Hence, a model incorporating the key elements of each approach could present a more realistic and comprehensive picture of international business strategies. The model also provides predictive implications on improved international business performance, given the activities of CDF manifesting successful internationalization.
Keywords: Institutional Theory, International Performance, Internationalization, Manufacturing Firms, Nigeria, Regression Analysis, Resource-Based View, Transaction Cost Analysis