Price Instability, Exchange Rate Volatility and the Nigerian Economy: An Empirical Analysis

Previous studies on price and exchange rate volatility have commonly focused on its effect on FDI and some sectors of the Nigerian economy, and not much has been conducted on its effect on the economy as a whole. This research therefore empirically verified the dynamics of price and exchange rate volatility on the Nigerian economy for the period of 1970 to 2010. The study was conducted by building a model which looked at the relationship between price, exchange rate and economic growth. Exchange rate variability was estimated using the GARCH model and variables were tested for unit root (stationarity). Consequently, the Johansen cointegration test was also conducted. The analysis was concluded with the estimation of the Error Correction Model (ECM) and interpretation of the short-run and long-run (OLS) results. The study found that the exchange rate in Nigeria is volatile, as the trend shows the fluctuation in price and exchange rate which of course may bear serious implications. Their instability however did not discourage investment and consequently economic growth both in the short and long run. Based on the regression result, it was observed that 1% change in money supply led to about 83.2% change in RGDP, the implication of this is that monetary variable may be a reliable instrument of ensuring growth in the long run. In addition, trade openness significantly depresses growth in the short and long run suggesting the adoption of inward growth strategy. Keywords: Exchange rate, Growth, Inflation, Macroeconomics, Trade openness

Macroeconomy and Banks’ Profitability in Nigeria

Banks, like any other businesses are driven by the profit motive. The banking environment in Nigeria has been fraught with major macroeconomic shocks over the years. This study therefore analysed the impact of macroeconomic dynamics on banks’ profitability in Nigeria. Specifically, the study examined the impact of macroeconomic variables (Gross domestic product growth, Inflation, and Crude oil price) on banks’ profitability. It also seeks to examine the significance of microeconomic variables (cost to income ratio, loan to deposit ratio; loan to total assets ratio and total assets) on banks’ profitability. It analysed the impact of banking industry concentration on banks’ profitability. The estimation technique follows a panel regression which studied a cross section of the banking firms while observing the heterogeneity in the individual firms. The results indicated that the ratio of cost to income market concentration, and crude oil price are negatively significant in determining changes in return on average equity while total assets is positively significant in explaining return on average equity (as a measure of profitability). The study recommended that banks’ exposure to the oil and gas sector must be properly managed given the significant impact of crude oil price on banks’ profitability. It is evident that the Nigerian banking industry is fairly competitive, and banks size matters in determining profitability. Banks management must therefore focus on strategies that will give them cost advantage as well as differentiate them from other competitors.Key Words: macroeconomy, bank, profitabilit

Quality assessment of some bottled water produced in Okitipupa, Ondo state, Nigeria

The aim of this study was to assess the safety level of some bottled water produced in Okitipupa, Ondo State Nigeria. Several packs of bottled water were obtained from three different manufacturers. Some physicochemical parameters and heavy metals were investigated to assess the quality of the bottle water using standard methods. The results from the physicochemical parameters and heavy metals were in with World Health Organization (WHO) standard for drinking water when compared. This study confirmed that the analyzed bottled water has good quality. Therefore, these bottled water are said to be safe for drinking

Concentration and sources of polycyclic aromatic hydrocarbons in some commercial herbal drugs used for cholera treatment in southwest Nigeria

The aim of this study was to investigate the cancer risk that could be incurred from the use of some anti-cholera herbal drugs sold in Southwest Nigeria. Three most popular anti-cholera herbal drugs were studied. The cancer risk estimation for the drugs at studied population ranges from 7.119 to 0.338 x 10-8 in children, 9.563 to 0.129 x 10-8 in preteen and 9.541 to 5.196 x 10-8 in adult. The cancer risk estimated values are below the USEPA set value 1 x 10-6. This established that the use of these herbal drugs might not lead to cancer if consumed at low dosage

Instrumental Characterization and Antibacterial Investigation of Silver Nanoparticles Synthesized From Garcinia Kola Leaf

The need to devise another method of synthesizing nanoparticles from sources that are eco-friendly, non-hazardous and cost effectiveness is of great importance in preventing environmental and health problems. The aim of this study was to evaluate the efficiency of Garcinia kola leaves as reducing and stabilizing agent for silver nanoparticles synthesis. The leaves of Garcinia kola obtained were authenticated, air dried, pulverized and extracted. The extract was mixed with aqueous solution of silver nitrate solution to form silver nanoparticles and were characterized using Ultra violet (UV) spectroscopy, Fourier transform infrared (FTIR) spectroscopy, Scanning electron microscopy (SEM), Transmission electron microscopy (TEM), Energy-dispersive X-ray spectroscopy (EDX) and X-ray diffraction (XRD). The antibacterial investigation of the synthesized silver nanoparticle was carried out following the disk diffusion method. UV analysis revealed the silver surface plasmon band at 425.18 nm, The FTIR indicated -OH, -C=C- and alkane as the functional groups responsible for the stabilization of the silver nanoparticle formed. The morphological assessment from SEM and TEM analysis confirmed that the silver nanoparticle formed are spherical in shape with an average particle size of 28.80nm.The EDX analysis ascertained that the silver surface plasmon resonance at 2.8–3.2 keV was confirmed the reduction of silver ion (Ag+ to Ag0). The XRD study revealed the crystalline nature of the nanoparticles synthesized. The antibacterial investigation showed high inhibition against the growth of tested bacteria.  This study ascertained that the green synthesis of silver nanoparticle without the use of harmful solvent that are offensive to the environment is achievable.  Keywords: Silver nanoparticles, Biosynthesis, Characterization, Antibacterial activity and Garcinia kola

Human papillomavirus-based cervical precancer screening with visual inspection with acetic acid triage to achieve same-day treatments among women living with human immunodeficiency virus infection: testof-concept study in Ibadan, Nigeria

Introduction: cervical precancer screening with same day treatment facilitates maximization of benefits of secondary prevention of cervical cancer. This is particularly important for women living with human immunodeficiency virus (WLHIV) infection because of their exceptional risk for cervical cancer. The availability of HIV programmes in low- and middle-income countries (LMICs) provide unique opportunity for possible introduction “human papillomavirus (HPV) screening followed by visual inspection after application of acetic acid (VIA) with same day treatment of eligible patients”. This study piloted this concept. Methods: in this prospective, cohort study, 98 WLHIV had HPV and VIA screening for cervical precancer lesions in a HIV clinic in Nigeria. Participants positive to HPV and/or VIA had biopsies from the visible lesions or quadrant of transformation zone. Participants positive to VIA and/or HPV16 or HPV18/45 had same-day thermal ablation treatment and the number of cases documented. The HPV, VIA and scenario of HPV followed by VIA results were compared with histologically confirmed cervical lesion grade 2 or worse statistically. Results: same day treatment was achieved in 95.0% of eligible cases. Statistically, sensitivity and specificity of VIA was 25.0% and 50.0% and HPV had 95.5% and 75.0%, respectively. In the HPV screening with VIA triage, sensitivity dropped to 45.5% but specificity improved to 100.0%. Conclusion: triaging HPV positive test with VIA for same-day treatment in cervical precancer screening among PLWHIV looks feasible. The improved specificity will reduce the overtreatment rate, loss to follow-up associated with repeat clinic visits and improve completion of continuum of care

Design, Modeling, and Fabrication of a Ventilator Prototype - A Successful Student Project Story

Abstract In this work, we use a group project approach for a group of undergraduate students to design and develop a mechanical ventilator, in response to the COVID-19 pandemic. A student group project composed of a team of undergraduate students has successfully designed and fabricated a mechanical bag valve mask (BVM) ventilator prototype. It is lightweight with a single controller is driven, capable of volume adjustment, inexpensive, open-source, and designed for ease of fabrication, installation, and operation by the average user. The ventilator prototype also consists of 3D printed components and stored bought hardware. A finite element model was developed to analyze the deformation of the bag valve mask. Finally, the ventilator system is fully tested functioning properly

A Project Based Learning Study Through Student Design of a Low-cost, Open Source, Easy-to-use, and Easy-to-build Ventilator

This work presents a project based learning (PBL) study, through student design and fabrication of a low-cost, open source, easy-to-build, and easy-to-use bag valve mask (BVM) ventilator, to potentially serve COVID-19 patients during the incubation period. A new learning outcomes framework, i.e., Profiles of Learning for Undergraduate Success, was adopted as the pedagogical model, with a focus on problem solver and innovator. Using the reciprocating motion system, the ventilator is capable to provide an air supply with adjustable breath frequencies. 3D printing is used to fabricate customized components. In parallel to the mechanical assembly of the ventilator, a CAD model was developed to understand the motion mechanisms in the ventilator, which can further help optimize the system. The design files are available at GitHub for open access. The project is to serve as a backup to handle any surge of patients who may need breathing assistance in hospitals across the nation. The feedback from the participating students is very positive. The success of this PBL based project using the profiles of learning for undergraduate success shows its promise and it can be extended to other student learning experiences

Thyrotrophic hormone metabolism in man and the rat

Imperial Users onl