Re-Examination of the Impact of Unemployment on Economic Growth of Nigeria: An Econometric Approach

The study has examined the impact of unemployment on economic growth of Nigeria using time series data between 1982 and 2014. Secondary data were sourced from Central Bank Statistical Bulletin. An exploratory research design was conducted using OLS, Phillips-Perron unit root test and Pair-wise Granger causality test. The major objective of this paper is to analyse the impact as well as direction of causality between unemployment and economic growth in Nigeria. The result of the OLS shows a negative relationship between unemployment and real GDP proxy for economic growth which is in line with Okun’s law. Also, granger causality test shows absence of causality between the unemployment and Nigerian economic growth. Government expenditure and capacity utilization that are incorporated in the model portrays positive relationship with economic growth. The existence of a negative relationship between unemployment and economic growth necessitates the need for government to introduce programs and policies that will create job opportunities for the teeming unemployed youths in Nigeria. The study also recommends provision of skills acquisition centres and transformation of the educational system so that youths will be job creators rather than job seekers. Keywords: Unemployment, Economic growth, Granger causality, Okun’s law and OLS

FDI and Economic Growth Nexus: Empirical Evidence from Nigeria (1970-2012)

The study has examined the impact of FDI on economic growth of Nigeria using time series data between 1970 and 2012. Secondary data were sourced from Central Bank Statistical Bulletin. An exploratory research design was conducted using OLS, ADF unit root test and Pair-wise Granger causality test. The major objective of this paper is to analyse the impact as well as direction of causality between FDI and economic growth in Nigeria. The result of the OLS shows a positive and significant relationship between FDI and real GDP proxy for economic growth. Also, granger causality test shows a unidirectional causality between the FDI and Nigerian economic growth. The existence of a positive relationship between FDI and economic growth necessitates the need to continue implementing policies that will attract FDI especially in the non-oil sectors of Nigeria. The study also recommends provision of adequate security especially in the North-eastern part of the country in order to control terrorist activities and pave way for more investment and as well domestic investment should also be encourage through providing necessary incentives to local businessmen. Key words: FDI, Economic growth, Granger causality and OLS.

Fabrication of benzoyl chloride treated tiger-nut fiber reinforced insect repellent hybrid composite

An insect repellent composite containing tiger nut particulate fibre, waste low density polyethene (LDPE) and castor oil alkyd resin was fabricated. Canarium schweinfurthii gum was used as insect repellent compound and maleic anhydride as compatibilizer. The tiger nut chaff was subjected to benzoylation using benzoyl chloride to increase the fibre-matrix interaction. The compound and composition was then moulded with LDPE as dual matrices for excellent physico-mechanical properties (pressed for 5 min, 130 °C and 25 bar and cured). The 10 wt.% treated composite exhibited a minimum water absorption of ~ 0.085%, optimal chemical resistance for both acids (HCl and H2SO4) and bases (NaOH and KOH) and no effect on thickness. Density measurement showed the lowest value of ~ 0.0096 g/cm3 for the treated fibre composite. However, the tensile strength, flexural stress, hardness and impact load were improved up to 35.08 Mpa, 456.3 Mpa, 95 and 730 J/m respectively with treated composites. Insect repellent tests against termites and cockroaches show repellent activity with time intervals. FTIR and SEM analysis showed fibre modification achieved