Entrepreneurs Health and Productivity in Nigeria: Analysis of Microfinance Bank Contribution

This paper investigates the effects of microfinance bank health related services on micro and small enterprise owners’ productivity. Productivity is measured as output value over resource input value. The paper employed panel data and multiple regression analysis to analyze a survey of 502 randomly selected entrepreneurs whose enterprise are finance by microfinance banks in Nigeria. We find strong evidence that microfinance bank health related programmes have positive correlation with productivity of micro and small entrepreneurs in Nigeria. Participation in health related services such as health education and health finance are found to have positive impact on entrepreneurs’ productivity, while microfinance bank linkages with health services provider and entrepreneurs access to health product through microfinance bank are microfinance banks health related services that are yet to be developed well developed by the microfinance banks . The paper recommends that a well structured health seminar and training programmes should be embedded in all Microfinance programme to further enhance productivity of entrepreneurs in Nigeria and partner with Insurance Companies in the country to provide quality health insurance services affordable to MFBs’ client. This will guarantee the clients’ access the health services when the need arise

Investors’ Behavioural Biases and the Security Market: An Empirical Study of the Nigerian Security Market

Behavioural biases describe a replicable pattern in perceptual distortion, inaccurate judgment, illogical interpretation, or what is broadly called irrationality. This paper adopts a primary data approach to investigate the effects of behavioural biases on security market performance in Nigeria. The objectives are in twofold: one, to examine the extent of behavioural biases among security market investors in Nigeria and, to examine the effects of behavioural biases on stock market performance in Nigeria. The paper employed questionnaire as instrument and the technique of correlation with Pearson Product Moment Coefficient to analyze a survey of 300 randomly selected investors in Nigeria security market. We find strong evidence that behavioural biases exists but not so dominant in the Nigeria security market because a weak negative relationship exists between behavioural biases and stock market performance in Nigeria. The paper recommends that individual investors in the market should engage the services of investment advisors which will reduce personal biases in the management of their portfolios

Effects of Microfinance on Micro and Small Enterprises (MSEs) Growth in Nigeria

This paper investigates the effects of microfinance on micro and small business growth in Nigeria. The objectives are: one, to examine the effects of different loan administration practices (in terms of loan size and tenor) on small business growth criteria. Second, to examine the ability of Microfinance-Banks (MFBs) (given its loan-size and rates of interest charged) towards transforming micro-businesses to formal small scale enterprises. The paper employed panel data and multiple regression analysis to analyze a survey of 502 randomly selected enterprises finance by microfinance banks in Nigeria. We find strong evidence that access to microfinance does not enhance growth of micro and small enterprises in Nigeria. However, other firm level characteristics such as business size and business location, are found to have positive effect on enterprise growth. The paper recommends a recapitalization of the Microfinance banks to enhance their capacity to support small business growth and expansion

Microfinance And Micro & Small Enterprises (Mses) Survival In Nigeria -A Survival Analysis Approach

The main objective of this study is to examine the impact of microfinance on micro and small business survival in Nigeria. Data for the study are derived from both primary and secondary sources. First, a survey of MFB entrepreneur- clients was undertaken using simple random sampling technique to select our respondents; then, some data were extracted from the cl ient's record with the Microfinance Banks (MFBs) on profit and sales. The data obtained were analysed using Kaplan Meier and Cox regression analysis. The findings revealed that micro financing enhance survival of Micro and Small Enterprises (MSEs) but most of the enterprises remain at the survival level of the business life cycle. We recommend that enterprise finance by MFBs should be linked up with larger financing window like the Small and Medium Enterprise Equity Investment Scheme (SMIEIS) fund or Strategic Partners like the commercial banks for expansion and growth funding after survival. We also recommend immediate recapitalization of the MFBs to enable them support MSEs adequately

The Relationship between the Informal and Formal Financial sector in Nigeria: A Case Study of Selected groups in Lagos Metropous

This paper investigates the links between the informal and the formal financial sectors in Nigeria. The objectives are two folds. The first is to ascertain the deposit and credit links between the informal and the formal financial sectors of the economy. The second objective is to determine the strength and significance of such links between informal and formal financial institutions with respect to saving mobilization and the process of credit dispersion in the informal sector. To realize these twin objectives, the study focused on moneylenders and savings & credit associations in the informal and semi-form al financial sectors in Nigeria. The study employed primary data, which is obtained through random sampling of the various association and groups in the informal financial sector of the economy such as moneylenders, rotational savings and credit associations, traditional mutual aid groups, credit & thrift societies and semiformal savings organizations within Lagos metropolis. The data was analyzed using descriptive and analytical techniques. We find that there is a strong link between the formal and the informal financial sector on the savings side but there is a weak link between the formal and the informal financial sectors on the credit side in Nigeria. We recommend government should put policy measure in place that will ensure their access to more capital as this will assist to facilitate rapid industrialization of the nation. And banks should remove the stringent conditions and excessive documentation that discourage operators in the informal sector to seek for loans in the bank

Microcredit and Business Performance in Nigeria: The Case of MFI Finance Enterprise

This paper investigates the impact of microcredit loan on business performance of Microfinance Institutions (MFI) finance microenterprises in Nigeria. A Microenterprise refers to an individual business that consists of less than five employees and is generally organized as a sole proprietorship or family business. The objective of the study is to examine the effects of micro credit on several business performance criteria of MFI clients. Data for the study are derived from both primary and secondary sources. A survey of MFI and entrepreneur – clients was undertaken using simple random sampling technique to select our respondents. The data obtained was analyzed using multiple regression analysis. We find a positive relation between microcredit and profit of the microenterprise. The study recommends a wider coverage of microfinance through effective implementation of micro-fund scheme and mandatory business related training for all micro entrepreneurs

AN ASSESSMENT OF FEDERAL TAX POLICY AND ECONOMIC DEVELOPMENT

The contribution of taxation to any economy internationally cannot be over stresses. Aside from the income function it performs for the administration, it is additionally used to help the national government accomplish the macroeconomic goals in the area of financial and money related arrangements. The part of taxation in advancing economy development is not felt, mostly as a result of feasible proof which can't be seen by the people in terms of framework and fundamental amenities. Accordingly, the aim of this study is to look at the government tax strategy and economic development in Nigeria. Time series data were applied in carrying out the research work, simple and multiple linear regression was used to analyze and test the research hypotheses, the findings uncovered that value added tax, Company Income Tax and Petroleum Profit Tax have a positive significance with total national output while custom and excise duty have a negative significance with GDP. However generally speaking a significant relationship exists between value added tax, Company Income Tax, Petroleum Profit Tax and custom and excise duty. We suggest that among others that the requirement for the legislature to make prudent exploit of income produced for the advantages of Nigerians, and among others the requirement for tax changes to address the issue of tax avoidance and evasion. And the overall population ought to be taught appropriately from the grassroots on the significance of tax to the whole national advancement