Manufacturing Exports and Employment Nexus in Nigeria (Published)
Nigeria has lower manufacturing employment than other industries for several reasons, including it share to Gross domestic product. Nigeria’s manufacturing sector contributes less than 10 percent of the nation’s GDP. This suggests that the sector’s overall economic production is weak, which may restrict its ability to provide job opportunities to the teeming populace. This study investigates the impact of manufacturing output on employment in Nigeria. The Autoregressive Distributive Lag (ARDL) estimation technique was used to establish the long run relationship among the variables. It was revealed that long run relationship exists among the variables in the estimated model. The results of the Error Correction Mechanism (ECM) within the framework of the ARDL shows that the development of the manufacturing sector is one of the key strategies for the creation of employment opportunities in Nigeria. The study recommends; the development and diversification of the manufacturing sector as one of its top long-term policy strategies for the creation of employment for Nigerians. It also suggests that policies aimed at attracting foreign investment in this sector could positively impact on employment generation. This can be accomplished by providing incentives to the operators of the manufacturing sector, such as import waivers on essential imported inputs, providing and guaranteeing large commercial trading businesses to enter the manufacturing of their products through licensing, facilitating and acting as surety in franchise agreements with foreign manufacturers, and any other incentive to help lower the manufacturing sector’s cost of production. Hence, the government must prioritize the development of the manufacturing sector by providing necessary support and incentives to attract more investors and increase local production, which will lead to job creation and economic growth for Nigerians.
Keywords: ARDL, Employment, Nigeria, manufacturing exports
Recapitalisation and Real Sector Performance in Nigeria: An Ardl Analysis of the Service Sector (Published)
The purpose of this study is to investigate the impact of banking sector reforms on the overall performance of real sectors in Nigeria, with a particular emphasis on how such changes will affect the service sector. The statistical bulletin, annual report, and statement of accounts of the Central Bank of Nigeria (CBN) were the sources of the aggregate time series data that were used in this study, which covered the period from 1981 to 2020. The ARDL technique was utilised in the analysis of the data. The recapitalization policy is positive and statistically significant both in the short run and in the long run, indicating that the Nigerian real sector did perform better after the introduction of the recapitalization policy in Nigeria; and the relationship between banking sector recapitalisation and real sector performance. Capital base of banks, credit to private sector, and mobilisation of savings all have a favourable effect on the performance of the service industry. Based on the findings of the analysis, the study concludes that the capital base of banks, credit to the private sector, and mobilisation of savings all have a favourable effect on the performance of the service industry. According to the findings of the study, it is recommended that credit be made continuously available in a financial market economy that is unregulated, as this has the potential to stimulate the outputs of the national real sector, which would ultimately lead to economic expansion and development in Nigeria.
Keywords: ARDL, Performance, Real Sector, recapitalisation, services sectors