Determinants of Microfinance Sources by Micro and Small Enterprise (MSEs) Clusters in South-East Nigeria

The source of microfinance is important and at the centre of every enterprise survival, profitability and growth that can trigger achievement of the expected roles and objectives. The main thrust of this study, therefore, is to understand the determinants of the choice of microfinance sources and level of support from funds providers. The study employed multi-stage sampling technique in identifying clusters from three cities (Onitsha, Aba and Nnewi) of the South East, Nigeria and generated relevant data through instruments such as questionnaire, personal interviews and Focused Group Discussions (FGDs). Using logit regression, the study found that interest rate, repayment period, amount or volume of capital and proximity to enterprises as the major determinants of the choice of microfinance source used by MSEs in South East, Nigeria. The study concluded that microfinance providers should be located closer to MSEs’ location for quicker response to their financing needs to the extent of taking advantage of social capital existing within the clusters as a possible cushion for the physical collaterals and documentations often requested for loan approvals. The study recommends that microfinance policy framework and interventions should encourage providers to locate closer to the enterprise clusters with the appropriate regulatory guarantee for operators

Benefits on the Margin from Public Spending across Healthcare Levels and Geopolitical Zones in Nigeria

The healthcare sector has been a core target of government in Nigeria because of the perceived multiplier or spillover effect on other sectors. Though series of policies, laws and spending have been put in place, indicators of healthcare in Nigeria have been poor and burdened by regional and location disparities. This study sets out to find which segment of the society that might likely benefit from extra investment in the sector. Utilizing the harmonised living standard dataset and employing a marginal benefit incidence analysis, the study found that marginal odds estimates were pro-poor for most southern regions with little urban bias for primary and secondary healthcare different from results from northern regions. On the reflex, the tertiary level estimates were decidedly pro-rich at the margin across regions and locations. The study recommended reforms in the sectors that will be reflected in budgeting and legal frameworks to achieve targets by impact and by need. Reforms that will consider regional specific issues will improve cost efficiency of additional spending. This must be done before additional funding to different levels for sustainable efficiency and effectiveness

Is there any Significant Contribution in Five Decades of Government Expenditure on Economic Growth in Nigeria?

Abstract Fiscal policy can be a powerful tool for stabilizing the economy and avoiding large cyclical swings in unemployment and inflation because of its effect on tax rates, interest rates and government spending. In Nigeria INTRODUCTION Fiscal policy refers to the way in which the government exerts influence on the economy through its overall budgetary and expenditure decisions. This policy can be a powerful tool for stabilizing the economy and avoiding large cyclical swings in unemployment and inflation because of its effect on tax rates, interest rates and government spending, in an effort to control the economy. The challenge of fiscal policy is to adopt actions that are right for the circumstances. The theory basically states that governments can influence macroeconomic productivity levels by increasing or decreasing tax levels and public spending. This influence, in turn, curbs inflation (generally considered to be healthy when at a level between 2-3%), increases employment and maintains a healthy value of money (Amakom 2008). This is not easy, because there are long and variable lags between government fiscal policy decisions and the resulting impact on the economy. Fiscal policy is therefore a government policy that attempts to influence the direction of the economy through changes in government spending (expenditure) or taxes or simply put, fiscal policy refers to the overall effect of the budget outcome on economic activity. This can be contrasted with the other main type of economic policy, like the monetary policy which attempts to stabilize the economy by controlling interest rates and the supply of money

Who Benefits from Public Spending in Different Education Levels across Geopolitical Zones/Regions in Nigeria?

Intervention in the form of public spending in education can have multiplier effect if policy makers have access to information on who may likely benefit from an additional investment and how much more they will imaginably gain. In the absence of such vital information spending in education across all levels in Nigeria since her return to democracy have been moving in in undesirable direction looking at results and outcomes with noticeable disparities. Apart from location variations, there have been huge regional disparities. The study used the Harmonised Nigeria Living Standard Survey (HNLSS) applying marginal benefit incidence analysis developed as a political economy model in which different population groups such as poor and the non-poor have different political power and different costs and benefits from a given public spending. This method analysed likely benefits of additional spending across different governance levels of education in Nigeria by region (geopolitical zone) and by location (urban and rural). The study found that the marginal odds estimate for most of the regions in the south and by locations with little urban bias for primary and secondary education were pro-poor but pro-rich in the regions of the north. On the other hand, the tertiary level estimates of education were decidedly pro-rich at the margin in all regions and by location. The study recommended reforms in budgeting and legal frameworks to achieve targets by impact, need and achievement of equity.<br/

Productivity and Efficiency of some Privatized Public Enterprises in Nigeria

In Nigeria gone are the days when public enterprises were the beacons of the economy due to the perennial low productivity, which is now a tag on them with its resultant ramshackle efficiency. In order to boost the economy a new wind is blowing amongst the developing countries of the world and the wind in question is privatization. Nigeria has indulged in this exercise for the past thirteen years and it is proper to take stock of the effect. Utilizing information and data collected on three of such enterprises involved in the first phase, a deep insight of the performance after privatization exercise were taken employing the services of some performance indicators such as profitability, operating efficiency, capital investment, leverage, employment and dividend payout. Data Envelopment Analysis was employed in determining whether productivity have improved after privatization exercise. The study revealed a significant improvement in productivity while efficiency is still at the back door. From the study also, other indicators were showing mixed effect depending on the firm in question.Privatization, Productivity, Efficiency and Data Envelopment Analysis

Nigeria Public Debt and Economic Growth: An Empirical Assessment of Effects on Poverty

Reasonable levels of external debt that would help finance productive investment are expected to enhance economic growth and improve poverty status though beyond certain levels an additional indebtedness might hinder growth and consequently affect poverty negatively. To investigate the effect of debt [domestic and external] and growth on poverty using the per capita income approach, the study augments a growth and debt specifications based on conditional convergence by adding several debt and growth variables. Empirical evidence show that population, domestic debt, external debt, debt service rates are all on the high side while investment rates, school enrolment rates [secondary school], Terms of Trade and Fiscal Balance are on the low side. Evidence from the study suggests that these variables have played very crucial role towards poverty escalation in Nigeria.Debt, Poverty and Growth

FINANCING ENERGY DEVELOPMENT IN NIGERIA: Analysis of Impact on the Electricity Sector

ABSTRACT Funding provisions by policy makers are usually for two main purposes including poverty and inequalit