MICROFINANCING, POVERTY ALLEVIATION AND NIGERIA’S ECONOMIC GROWTH: THE NEXUS

This study investigated the nexus between microfinancing, poverty alleviation and Nigeria’s economic growth from the period of 1992 to 2018. Specifically, it seeks to probe the actual effect of microfinance bank loans on economic growth and employment creation in Nigeria. Augmented Dickey-Fuller (ADF) test, ARDL bounds cointegration test, and the short-run diagnostics and stability for ARDL Model were employed in the analysis. The research findings admitted that, microfinance banks’ operations do not significantly contribution to poverty alleviation in Nigeria. Also, it established that microfinance banks’ loan advances do not significantly affect growth of GDP in Nigeria. Again, microfinance banks’ loans advances have significantly negative contribute to employment opportunities in Nigeria. The implication of the first finding is that, may be attributed to difficulties enshrined in operating environment which make the realization of their objectives cumbersome. Regarding the second findings, the implication indicates that when loans elongated by the microfinance banks to that of business sector and it is not protracted, this will not procreate a corresponding elevate in the economic growth of Nigeria. Also, another implication is that the businesses were not generating enough profit to cover sufficiently the running cost and profit. Therefore, the borrowers will remain in the cycles of borrowing and repaying for years and years. Finally, the significant effect of microfinance banks’ loan advances on creation of employment opportunities on the third finding, the implication is that by granting credit, Microfinance banks enable their clients expand their productivity. This expansion will exact the existing manpower. Additional hands will naturally be engaged to cope with the new level of production. Based on the research findings of this study, for effective loan and advances, microfinance institutions should channel very high proportion of their credits to the productive and real sectors of the economy for valuable impact of their operations on Nigeria’s economic growth. However, Microfinance Banks (MFBs) should therefore, be front-liners of ethical and professional conduct by ensuring that fluffy loans are given to plausible and desirable entrepreneurs. Furthermore, there is should be deliberate policy by the government encouraging the operation of microfinance banks in rural areas and occasionally in semi-urban areas. This will increase savings mobilization of the banks, thereby creating more employment opportunities. JEL: N10; O10; O12; O40  Article visualizations

MONETARY POLICY AND INFLATION CONTROL: THE CASE OF NIGERIA

Inflation is a major problem facing Nigeria as a country today. The Central Bank of Nigeria (CBN), however, has made efforts to fight it using different policy measures, of which monetary policy is one of them. Thus, this study focuses on the impact of monetary policy on inflation control in Nigeria. The study is based on time series data from 1980 to 2019. The Augmented Dickey Fuller test, Johansen’s co-integration test, the Error Correction model (ECM) estimation was employed in the analysis. The variables include – exchange rate, inflation rate, money supply (% GDP), Treasury bill rate and monetary policy rate. The research findings showed that monetary policy has no significant impact on inflation control in Nigeria both in the short – run and long – run. Money supply has negative and insignificant impact on inflation control in Nigeria both in the short – run and long – run. Again, exchange rate has negative and insignificant effect on inflation control in Nigeria both in the short – run and long – run. The Treasury bill rate has negative but significant effect on inflation control in Nigeria in the short – run, while in the long – run it has positive but insignificant effect on inflation control in Nigeria. The study, therefore, recommends that, Government should provide monetary policies that will preferred efficient provider of favourable environment in terms of the implementation of the appropriate monetary policy rate, exchange rate etc in order to attract both domestic and foreign investment which will create employment opportunities for the Nigerian populace and in turn lead to the expansion of the industries in the country. JEL: E42; E52; E3

Globalization and Environmental Conflict in Africa

No Abstract African Journal of Political Science Vol.4(1) 1999: 40-6

Nigeria’s Niger Delta : Understanding the Complex Drivers of Conflict

The Lecture Series on African Security is a joint collaboration between the Swedish Defence Research Agency (FOI) and the Nordic Africa Institute (NAI). The first round of lectures was conducted in 2008. The lectures revolve around core themes in African security studies and case studies from contemporary Africa, and they are presented by highly renowned international and national experts on Africa.</p

No longer at ease: intellectuals and the crisis of nation-statism in Nigeria in the 1990s

No Abstract.African Sociological Review 2004, 18(2): 1-1

Oil Minority Rights and the Question of Democratic Stability in Nigeria

(The Journal of Cultural Studies, 2000 2(1): 75-95