A TRANSLOG ANALYSIS OF INSURANCE ECONOMIES IN NIGERIA

Recapitalization process that has recently become an imperative process in the Nigerian Financial industry has implications for the survival of insurance sector, especially on their service delivery efficiency. This study therefore seeks to investigate the problem of inefficiency in the Nigerian Insurance market from the perspective of their cost structures. The study takes advantage of secondary data of financial reports of thirty randomly selected insurance firms which span over a period of ten years and applied transcendental logarithm model to evaluate their performance from the cost structures strategy. The results indicate that only large scale firms enjoy cost saving advantages. Twenty percent firms sampled belong to this category. The result suggests that premium income would contribute to insurance firm’s performance, only when a sound investment decisions are made.Transcedental Logarithm, Cost Structures, Insurance firms and Efficiency

Econometric Evaluation of Government Spending, System of Government and Economic Growth in Nigeria 1970-2007

The study relates to the econometric analysis of the relative effectiveness of fiscal policy management in Nigeria, between 1970 and 2007. It employed reduced forms model in addition to, Beta coefficient, Theil's inequality and Root Means Square Error (RMSE) techniques to investigate the stability and effectiveness of the estimated fiscal model which represent government spending, during and after estimation periods. The results reveal stability of the models and further confirmed the fact that government spending is the major determinant which influences and predict Nigeria macro economic activity. There is what appears to be a manifestation of the so-called crowding out effects of fiscal policy actions in Nigeria. These are associated with the negative sings assumed by coefficients of the lagged fiscal policy variables (except recurrent expenditures)

Stroke in Young Adults: A Prospective Study from Northwestern Nigeria

Background. Stroke is an important cause of morbidity and mortality in young adults especially in developing countries. This two-centre prospective study aimed at reviewing the pattern, types, and case fatality of stroke in the young adults in Northwestern part of Nigeria. Methods. Consecutive patients aged 18–40 years admitted to the medical wards of two tertiary hospitals from June 2008 to August 2010 were recruited. Relevant clinical data were obtained from the patients.The survivors were followed up in neurology clinics for 6 months. Results. A total of 71 patients aged 18–40 yrs, (mean age was 31.9 ± 6) comprising 52(73%) males and 19(23%) females were enrolled. Forty two (59.1%) patients had infarctive stroke. The risk factors included hypertension (74.7%) patients, smoking (50.7%), hypercholesterolemia (9.9%), non-hypertensive cardiac diseases (8.5%), HIV (8.5%), diabetes mellitus (4.2%) cocaine and amphetamine (2.8%), and sickle cell disease (2.8%). Only twelve (17%) patients presented within the first 6 hours of onset of stroke. Seventeen (23.9 %) patients died, case fatality in the first 24 and 72 hrs was 4.2% and 19.7%, respectively. Conclusion. Our data suggests that stroke in young adults is not as uncommon as previously suggested. Hypertension, smoking, hypercholesterolemia, cardiac diseases and HIV are the most common risk factors

Money Supply, Foreign Exchange Regimes and Economic Growth in Nigeria.

The study empirically examines the effect of money supply, foreign exchange on Nigeria economy, in line with the objectives of this study, secondary data were obtained from central bank of Nigeria statistical bulletin covering the period of 1988 to 2010. In concluding the analysis, multiple regressions were employed to analyze data on such variables Gross Domestic Product (GDP), Narrow Money, Broad money, exchange rate and interest rate were all found have significant effects on the Economics Growth with the Adjusted R2 of 0.973 showing that about 97.3% variation in the GDP from 1988 to 2010 is due to NARM. Following the outcome of this study, it is therefore concluded that the growth in money supply was attributed to credits extended by the deposit money banks to the private sector. It is order to improve economic growth, it is recommended Nigeria Banks should be committed to the mission of price stability as well as improving the regulatory and supervisory frameworks to secure a strong financial sector for efficient intermediation. Key words; Money supply; CBN; exchange rate; Narrow money; Broad money; Nigerian Economy

Cost Entropy and Expert System Approach to Modeling Cost Smoothing System in Reinforced Concrete Office Building Projects Procurement

The main aim of this research work is to develop an expert system approach to cost smoothing model in reinforced concrete office building project procurement. An econometric model which incorporates exigency escalator and inflation buffer, with entropy threshold for a typical reinforced concrete office building, useful at tendering and construction stages of building projects was developed in this study. As built and bill of quantity value of twenty (20) building projects initiated and completed within 2008 and 2009 were used at random. Elemental dichotomies within the context of early and late constructible elements with speculated prediction period was used, taken into consideration the present value of cost. This attributes would enable a builder or contactor load cost implication of an unseen circumstance even on occasion of deferred cost reimbursement with the aid of average entropy index developed for each project elements. The model was further validated with new samples and discovered to be of high Eigen and contingency coefficient values. The model could help in cost smoothing at different stages of reinforced concrete office building which could further aid cost overrun prevention

Modelling the Effect of Income and Car Ownership on Recreational Trip in Akure ,Nigeria

The effect of income and car ownership on recreational trip pattern in the study area was analysed, focusing on the frequency of trips, modal choice and the land use pattern. It is an attempts to extend research on travel characteristics and behaviour to cities of the developing world with focus on Akure metropoli

Effect of spatial configuration of an extended nonlinear Kierstead-Slobodkin reaction-transport model with adaptive numerical scheme

In this paper, we consider the numerical simulations of an extended nonlinear form of Kierstead-Slobodkin reaction-transport system in one and two dimensions. We employ the popular fourth-order exponential time differencing Runge-Kutta (ETDRK4) schemes proposed by Cox and Matthew (J Comput Phys 176:430-455, 2002), that was modified by Kassam and Trefethen (SIAM J Sci Comput 26:1214-1233, 2005), for the time integration of spatially discretized partial differential equations. We demonstrate the supremacy of ETDRK4 over the existing exponential time differencing integrators that are of standard approaches and provide timings and error comparison. Numerical results obtained in this paper have granted further insight to the question "What is the minimal size of the spatial domain so that the population persists?" posed by Kierstead and Slobodkin (J Mar Res 12:141-147, 1953 ), with a conclusive remark that the popula- tion size increases with the size of the domain. In attempt to examine the biological wave phenomena of the solutions, we present the numerical results in both one- and two-dimensional space, which have interesting ecological implications. Initial data and parameter values were chosen to mimic some existing patternsScopus 201

Construction practitioners’ perception of key drivers of reputation in mega-construction projects

Purpose: The purpose of this study is to commence the discourse on the non-inclusiveness of the dynamics of reputation within the construction industry by identifying and examining the key product and process drivers of reputation in mega-construction projects. Design/methodology/approach: Data was collected through an exploratory sequential mixed methods approach which commences with a qualitative study and culminates with a quantitative study to identify product and process drivers of reputation in mega-construction projects. Findings: The findings suggest that “project quality”, “robust social and environmental sustainability plan”, “project team competence and interpersonal relationship” and “project process efficacy” are the four key drivers influencing the reputation of mega-construction projects. Research limitations/implications: The findings of this study are solely based on the perception of UK construction practitioners; therefore, the results may only be considered valid in this context. The identification of these key drivers provides a pathway where stakeholders, professionals and organisations can identify and prioritise critical issues associated with enhancing and sustaining the reputation of mega-construction projects. Originality/value: Findings of this research make a significant contribution to the discourse on the concept of reputation within the construction industry by identifying its specific drivers of reputation

EXAMINING THE EFFECTS OF COASTLINE ON PROPERTY VALUES IN VICTORIA ISLAND

The impacts of coastal region cannot be over emphasized, as this tends to benefit and impact residents, property owners, tourists, businesses, local authority and state governments. Developers, private investors, and individuals may be affected as controls impact growth in the area. Therefore this study examined the effects of coastline on property values in Victoria Island. Data was collected using questionnaire administered on Estate Surveyors and Valuers managing properties in Victoria Island. A total of 55 questionnaire was retrieved from the 90 administered giving a return of 61.11%. The study revealed that rental values of residential properties are on the increase from N1.5million in 2011 to N4.5million in 2015, duplexes increased form N2.5million in 2011 to N5.5million in 2015. Also, the rental value of detached buildings jumped from N2.5miion in 2011 to N6.2million in 2015 while that of bungalows moved from N1.5million in 2011 to N5.8million in 2015. Equally, the rental values of office (commercial) properties are on annual increase. The study indentified sea level rise (96.4%), ocean currents (87.3%) and population density (61.8%) as the main factors affecting property values in the coastline region of Victoria Island. The main challenges faced along the coastline in the study area are water logging (96.4%), land erosion (90.9%), spatial expansion (87.3%) and flooding (65.5%). Finally, the study further revealed that, in spite of the challenges, there are still some benefits derivable along the coastline of Victoria Island and these benefits include economic benefits (92.7%), socio-cultural (96.4%) and health benefits (60.0%). The study concluded that despite all the challenges, property values in coastline region of Victoria Island are always on the increas

Speciation of Chromium and Vanadium in Medicinal Plants

In this study, Cr(VI) and V(V) were determined in medicinal plants collected from the farm located between two smelters. Chromium(VI) and vanadium(V) were leached from medicinal plants with 0.1 M Na2CO3 prior their determination by ETAAS. The concentration of Cr(VI) in medicinal plants varied between 3.1 ± 0.5 μg g–1 and 9.4 ± 0.2 μg g–1 and that of V(V) ranged from 1.1±0.08 μg g–1 to 17±1.7 μg g–1. It was established that element species taken up by plants do not depend on metal content in soil but is a function of plant properties. Results of the determination of water-soluble (hot water) Cr(VI) and V(V) concentrations showed that consumption of three cups of tea prepared from medicinal plants from Zizameleni farm is safe since recommended maximum limits is not exceeded through normal consumption of tea infusion.KEYWORDSSpeciation, leaching, medicinal plants, sodium carbonate, electrothermal atomic absorption spectrometry