Effects of Exchange Rate Volatility on Low Income Residential Real Estate Investment Returns in Nigeria

This paper examined the effects of Naira/Dollar exchange rate volatility on low income residential real estate investment returns in Nigeria using EGARCH model. Time series data for an 11year period between 2000 and 2010 was used in this study. The findings reveal that exchange rate volatility has a significant positive effect on low income residential real estate investment returns in Nigeria within the study period. Magnitude of volatility and volatility persistence measured.....

Defection and Party Crisis in Nigeria

Since the creation of political parties in Nigeria, it has been characterized by the issue of defection and party crisis. This had been accompanied by the role of democratic institutions in resolving the problems of defection and party crisis in Nigeria, having in mind that the structure of these democratic institutions could play a significant role in the consolidation of democracy. Hence, the study interrogates how weak democratic institution impacted on defection and party crisis which inversely affects democracy and also examined the link between defection and party crisis. The data was collected through documentary sources on the various indices of corruption, institutional quality, freedom and fragile state of different years from 2008-2017. The data was analyzed using the multi-regression analysis. The result shows that lack of peace, and security, corruption, and institutional quality had a negative impact on democracy. So the democratic institutions are weak to enforce the rule of law in the country that will guide the activities of politics in Nigeria. Thus, the study found out that the inter-party crisis leads to fractionalization and defection. We predicated our analysis on the structural-Marxism theoretical framework. Also, it recommends that the constitution should be re-written to ensure the proper definition of defection and ensure sanction and penalty for the bridge of these laws in society. Keywords: Defection, weak institution, party crisis, political institution, political business. DOI: 10.7176/JESD/10-8-06 Publication date: April 30th 201

Pregnant Nigerian women’s view of cesarean section

Objective: Cesarean section (C/S) is still being perceived as an abnormal means of delivery by many antenatal women in Nigeria. This study aims to determine the perceptions of antenatal clients in the southeastern Nigeria on C/S.Materials and Methods: The study was conducted using a structured questionnaire administered to 300 consenting pregnant clients attending the antenatal clinic. The data were analyzed and presented in a simple frequency table.Results: The average C/S rate in the hospital was 16.6%. Only 4 (1.4%) viewed C/S as very good and elected to undergo C/S. Thirty-four (12.3%) considered C/S as bad and would reluctantly undergo the procedure. Two hundred and twenty-five (81.2%) would accept C/S if their life or that of their fetus is in great danger.Conclusion: This study affirms previous suspicion that a significant proportion of antenatal clients are averse to C/S and the negative cultural perception of the people to C/S reinforced this aversion

Poverty Level Between Remittance-Receiving and Non-receiving Households and the Effect of Poverty on Different Zones, Quintiles, Sex, and Sectors in Nigeria

This study examines the difference in poverty level between remittance-receiving and non-receiving households and the effect of remittances on different zones, quintiles, sex, and sectors in Nigeria, using household data from the Nigerian National Living Standard Survey. A linear regression model was employed for estimating counterfactual per capita household expenditure without remittance, while Probit regression model was adopted to examine the effect of remittances on poverty, to know the difference between remittances receiving and non-receiving households. In other to correct for selection bias that could lead to an inconsistent estimate, since migrants were not randomly selected from the pool of households, Heckman selection model,  –  two-step estimates were used. Empirical results showed that poverty level between remittance-receiving and non-receiving households differ. Remittances led to poverty reduction in households. A mixed result was, however, found on the effect of remittances on different zones, quintiles, sex, and sectors. On the basis of the above, the study recommended that remittance-receiving households do not over depend on remittances and working less, which could negatively affect the development of their own financial and economic resources, despite the evidence that remittances contribute to poverty reduction. The government can as well facilitate and encourage expatriate Nigerians in sending remittances to their households. In respect to this, issuance of remittance bonds would be a right step. Keywords: Poverty, Remittance

The Influence of seed treatments and growing media on seedling growth and development of African walnut, Plukenetia conophorum

A nursery trial was conducted to investigate the effects of seed treatments and soil type growing media on the germination and growth of Plukenetia conophorum. The factors considered included seed treatments with hot water at 90&#176C, warm water at 60&#176C, overnight soaking in cold water and scarification. Soil type media were humus&#43manure and topsoil&#43manure at a 2:1 ratio. The results showed that the types of nursery media used were significant only on seedling growth but not on germination. However, the seed treatments have significant effects on germination and growth of the crop. Topsoil produced superior plant growth in terms of plant height, collar girth and leaf number. Scarification and overnight soaking in cold water produced best quality seedlings.Key words: Plukenetia conophorum, seed treatment, growing media, top soil, humus, under-exploited fruit.African Journal of Biotechnology Vol. 4 (8), pp. 808-81

Dietary effect of rice milling waste and supplementary enzyme on performance of broiler chicks

A four- week study was conducted to determine the effects of feeding rice milling waste (RMW) and supplementary enzyme (Roxazyme G2®) on the performance of broiler chicks. One hundred and twenty (120) 7-day old broiler chicks of Anak strain were randomly divided into eight groups of 15 birds each. The groups were randomly assigned to 8 isocaloric (2.85 Mcal of ME/kg) and isonitrogenous (22.00% crude protein) diets in a 4 × 2 factorial arrangement involving a control (0%), three levels (10, 15 and 20%) of RMW and two enzyme levels (0 and 0.02%). Each treatment was replicated three times with five birds per replicate. Results show that feed intake, average daily weight gain, protein efficiency ratio, costs of daily feed intake and feed cost per kg weight gain were significantly (P<0.05) different among the treatment diets. Haematological values such as Haemoglobin concentration (Hb), mean cellular volume (MCH), mean cellular haemoglobin concentration (MCHC) and mean cell volume (MCV) were not significantly (P>0.05) affected by the treatments. Enzyme supplementation resulted in a significant (P<0.05) reduction in feed intake and enhanced significantly (P<0.05), the performance of birds that consumed such enzyme supplemented diets. It was concluded that up to 20% RMW can be included in broiler starter diet without any adverse effect on growth performance of birds. However, the significant increase in feed cost per kg weight gain emanating from the inclusion of enzyme in some of the diets may negate the positive effect that Roxazyme G2®enzyme had on growth performance of the broiler chicks.Keywords: Rice milling waste, enzyme, diets, broiler chicks, growth performance.African Journal of Biotechnology Vol. 12(34), pp. 5326-533

Exegetical Survey of John 13:1-17: Implication of Jesus’ Servant Leadership Model for the Church and Nigerian Society

Leadership in Nigeria across ecclesiastical and societal strata had over the years proved to be a game of the hawks and kittens through radical and arbitrary expression of power and authority. All who had played host to the power equation among the leadership in Nigeria had exhibited leadership mentality that had been anchored on that of tribalism, feudalism, dictatorship, and nepotism. These indices invariably had been obvious in the church leadership wherein the leadership had lord it over God’s heritage. This abnormality in the nation leadership has affected negatively the psyche of average Nigerians. Consequently the National as well as international image of the Nigeria had been dragged to the mud. This paper in a vivid lucidity examined through critical biblical exegesis, Jesus’ model of exemplary as well as servant leadership from John Gospel 13:1-17; unraveling its laudable lessons for the church and Nigerian society. Keywords: key words, exegesis, Jesus’ Servanthood, Jesus’ leadership mode

Pethidine and bupivacaine spinal anaesthesia: a comparative evaluation of postoperative complications and recovery profile

Background: Bupivacaine is commonly used as a sole agent for spinal anaesthesia unlike Pethidine. This study compares the immediate postoperative complications and recovery profile following spinal anaesthesia with pethidine and bupivacaine.Methods: Fifty-two patients who required short duration surgical procedures below the umbilicus were randomized to receive spinal anaesthesia with pethidine 1mg/Kg and 2.5 mL 0.5% bupivacaine. Time to recovery of pin prick sensation at S2, plantar flexion, proprioception of the big toe, and full motor recovery were compared for the two agents. Complications of pain, sedation, nausea and vomiting, pruritus and urinary retention in the immediate postoperative period were also compared.Results: Comparing Pethidine and Bupivacaine, time to return of pinprick sensation at S2 was 94.62±20.25 and 205.96±31.05 minutes respectively; return of plantar flexion was 92.88±12.01 and 193.85±39.56 minutes respectively; recovery of proprioception of the big toe was 31.15±9.41 and 172.50±42.70 minutes respectively; complete motor recovery was 47.89±14.08 and 221.73±44.72 minutes respectively. All the differences in recovery times were statistically significant (p<0.0001). There was no statistically significant difference in the incidence of pain and sedation. Only 4 (15.38%) patients in the Bupivacaine group experienced mild pain. There was no incident of nausea and vomiting. However, pethidine group experienced pruritus (19.22%) and bupivacaine group none. Bupivacaine group also had urinary retention (11.54%), while pethidine group had none. These differences were statistically significant (p=0.01).Conclusions: Pethidine exhibited a shorter recovery profile than Bupivacaine and also caused no significant complication in the immediate postoperative period

Comparative anti-ulcerogenic activities of the leaf, seed and stem bark hydromethanolic extracts of Picralima nitida in rats

Background: Picralima nitida (Stapf) commonly called akuamma belongs to the family apocynaceae found mostly in forest areas of Africa. It is a shrub or a deciduous tree that can grow up to 35 meters in height. It has a cylindrical trunk measuring about 60 cm in diameter with white latex in its parts. The bark of the trunk is fragile and is greyish brown or black in colour.Methods: The acute oral toxicity test was done using up and down method. The anti-ulcerogenic activities of the leaf, seed and stem bark extracts were evaluated using ethanol-induced ulceration model in rats.Results: There were no signs of morbidity and mortality in rats following oral acute toxicity test. The extracts produced a significant (p<0.05) dose dependent reduction in the number of ulcers and ulcer scores reducing them from 14.00±2.82 and to 56.00±4.55 to as low as 2.00±1.21 and 8.45±1.24 respectively. The ulcer preventive index was also increased by P. nitida extracts in a dose dependent manner with the (Picralima nitida leaf extract) PNLE at the dose of 400 mg/kg causing up to 76.13% inhibition of ulcers in the rats.Conclusions: Picralima nitida extracts demonstrated significant anti-ulcerogenic activities in ethanol-induced gastric ulcerations in rats

Fair Value Measurement versus Historical Cost Accounting: A Comparative Effect on Firms’ Performance in Nigeria

This study comparatively examined the effect of fair value measurement (FVM) and historical cost accounting (HCA) on the performance of quoted firms in Nigeria. Data were sourced from the online published accounts of ten quoted firms for a period of ten years segregated into HCA regime (2007 – 2011) and FVM regime (2012-2016). Descriptive Statistics (Mean) and Inferential Statistics (Paired sample t-test) were employed in the analysis of the data collected with the aid of Statistical Package for the Social Sciences (SPSS) version 21. Findings from the analysis revealed that a positive but insignificant difference exists in the profit after tax of the firms between the FVM and HCA regimes; and that fair value measurement exerts negative but insignificant effect on the earnings per share and return on equity of the firms. The study thus concluded that fair value measurement as it is being practiced and implemented by Nigerian firms, exerts no significant change in firms’ performance as was reported under the HCA regime. It therefore recommended, among other things, that the International Accounting Standards should review the current provisions on the fair value practices in the International Financial Reporting Standards to ensure improved operations of firms across national borders. Key Words: Fair Value Measurement, Historical Cost, performance, Earning per Share, Profit after Tax, Return on Asset