Accounting Numbers and Stock Prices in the Nigerian Stock Market

This research is motivated to study the extent to which accounting information summarizes stock prices in Nigerian stock market as an indicator of value relevance. Piece of accounting data is termed value relevant if it is significantly related to the dependent variable, which may be expressed by the stock price. The methods used for gauging information contents of various accounting numbers were Ordinary Least Squared (OLS), Random Effects Model (REM), and Fixed Effects Model (FEM). The findings show that there is a significant relationship between accounting information and share prices of companies listed on the Nigerian Stock Exchange. Dividends are the most widely used accounting information for investment decisions in Nigeria, followed by earnings and net book value. The study therefore recommends that the firms should improve the quality of earnings as manipulated earnings (of which dividends are sub-sets) have large effects on share prices. The paper also recommends that all companies listed on the Nigerian Stock Exchange should prepare Simplified Investor’s Summary Accounts (SISA) with emphasis on the most widely used accounting information along the required mandatory detailed financial statements to suit Nigerian peculiarities. The study’s findings and recommendations may be of use to National Standard Setters, preparers of accounting information, Nigerian Stock Exchange Regulators, investors and other emerging stock market

Effects of Housing Modifications on the Management of Pigs and Growth Performance

Pig industry in Nigeria is an important arm of the livestock sub-sector in the overall agricultural sector. The comfort of Pigs is determined by effective environmental temperature. It combines the effect of air temperature, flooring, and bedding. The aim of this study is to investigate the impact of different intensive housing systems on the feed consumption level, weight gain and welfare of pigs fed with the same feed (diet) under different housing systems for 8 weeks. Nine Pigs were purchased from a reputable commercial farm and were divided into 3 treatment groups, T1, T2 and T3. T1 is a well built pen with cemented wall and floor. T2 is a pen built with bamboo wall, and cemented floor. T3 is built with bamboo wall without cemented floor – bare loamy soil. The Pigs were raised for eight weeks. The feed given and weight gained for eight weeks were recorded and analysed using ANOVA. Considering the consumption levels of all treatments, T2 had the lowest feed intake compared to other treatments. T2 had the highest weight gain while T3had the lowest. It is hereby concluded that T3 presented the best result as regards feed consumption, cost of construction and ease of management. Although it presented the lowest weight gain which is attributable to the initial weight and tipping of the feed trough (feed wastage). However, feed wastage can be minimized by using firmer feed trough

Phytochemical and Antimicrobial Properties of Oil Extracts from the Seeds of Ricinodendron heudelotii

Objective: The aim of this project is to extract the chemical components of various parts of this tree and to characterize the constituents of these extracts and to test for their biological activity. Methodology: Agar-well diffusion assay was used to determine the antimicrobial activity of the oil extract on the test isolates: Staphylococcus aureus, Pseudomonas aeruginosa, Escherichia coli, Bacillus cereus and the yeast Candida albicans. The Minimum Inhibitory Concentration (MIC) for each test organism was determined by the broth dilution method using 0.5 McFarland’s standard. Results: Preliminary proximate and phytochemical analysis of the oil extracts from the seed showed the presence of the following minerals, Na, K, Ca, Mg, Mn, Fe, Cu and Zn as well as the following family of compounds: Steroids, saponin and terpenoids. Antimicrobial and antibacterial studies also revealed that the oil extract was active against Gram’s negative and positive bacteria and fungi. The test organisms were Staphylococcus aureus, Pseudomonas aeruginosa, Escherichia coli, Bacillus cereus and the yeast Candida albicans. Pseudomonas aeruginosa was resistant to the oil extract at all the concentrations used. Conclusion: Amongst the bacteria used, highest MIC of 150 mg mLG1 was recorded for Staphylococcus aureus , while lowest MIC of 50 mg mLG1 was observed in E. coli . Highest activity was observed against the fungus, Candida albicans with MIC of 25 mg mLG

Effects of acute exposure to cotton insecticide thalis 112 EC (emamectin benzoate 48 g.l-1 and acetamiprid 64 g.l-1) in African catfish Clarias gariepinus embryos

Thalis 112 EC, a binary insecticide based on Emamectin benzoate (48 g.L-1) and Acetamiprid (64 g.L-1), is widely used in agriculture in Benin, to control cotton pests including Helicoverpa armigera. In order to assess the impact of acute concentrations of this binary on the development of  eggs/embryos of the African catfish Clarias gariepinus, an experiment was conducted in the laboratory. The fertilized eggs of C. gariepinus (n 100)  were exposed to six concentrations of Thalis (T0: 0.0; T1: 10.0; T2: 60.0; T3: 110.0; T4: 160.0 and T5: 210.0 ppm), each in three replicates. The  arithmetic method of Karber was used to calculate LC50 values. The 24h-LC50 and 48h-LC50 values of Thalis for eggs/embryos were 124.09 and  117.58 ppm, respectively. High Thalis concentrations significantly increased eggs/ embryos mortality and decreased hatching success (p<0.05,  Dunnett’s test). Rates of various physical deformities such as short-tail and lordosis, and the abnormalities such as black pigmentation on yolk sac,  intense lethargy, etc., also climbed with increasing Thalis concentrations (p<0.05, Dunnett’s test). The findings from the current study showed that  Thalis exerts adverse effects on embryo development of C. gariepinus. They constitute an alert on the toxic effect of chemical pesticides used in  Benin on the first developmental stages of fish inhabiting aquatic ecosystems. &nbsp

Characterization, Proximate Composition and Evaluation of Antimicrobial Activity of Seed Oil of Bauhinia tomentosa

Background: This study was carried out to investigate proximate composition, phytochemical profile and antimicrobial activity of the spectroscopically characterized seed oil of Bauhinia tomentosa . Materials and method: The characterization was carried out using FT-IR, mass spectra, 1H- and 13C-NMR. Results: The results from the proximate analysis showed the presence of crude protein 30.36±0.98%, crude fibre 26.00±0.69%, carbohydrate 25.32±0.57%, moisture content 12.04±0.39%, ash content 4.00±0.15% and fat content 2.28±0.09%. The phytochemical screening revealed the presence of alkaloids, flavonoids, saponins, terpenes, cardiac glycosides, sterols, anthraquinones and tannins in varying degrees. The mineral determination showed that the seed oil contained iron (3.10±0.01 mg kgG1), manganese (0.38±0.01 mg kgG1), while cadmium (0.0 mg kgG1), lead (0.0 mg kgG1) and nickel (0.0 mg kgG1) were not detected. The extracted seed oil was investigated for antimicrobial efficiency against four bacterial isolates and two fungal, wherein gentamicin and clotrimazole were the clinical standard antibiotic and antifungal agents, respectively. Conclusion: The antimicrobial activity result revealed the sample to be bioactive and of great pharmaceutical potential with MIC value of 6.25 and <3.625 mg mLG1 against Escherichia coli and Candida albican, respectively. Due to high nutritional values and broad antimicrobial properties, the seed oil of Bauhinia tomentosa has nutraceutical potentials, which might pave way for its use as an alternative nutrient source for mankind or for industrial purpose

Kinetic field dissipation and fate of endosulfan after application on theobroma cacao farm in tropical Southwestern Nigeria

Endosulfan, 6,7,8,9,10,10-hexachloro-1,5,5a,6,9,9a-hexahydro-6,9-methano,2,4,3-benzodioxathiepin-3-oxide, is still a pesticide of choice for most cocoa farmers in Southwestern Nigeria, in spite of its persistence, bioaccumulative, toxicological properties, and restriction. A single treatment of 1.4 kg ai/ha (0.5% ai) of technical grade endosulfan (Thiodan, 35EC) was applied to 0.0227 ha of cultivated Theobroma cacao L. (Cocoa) farm at the Cocoa Research Institute of Nigeria (CRIN). Levels of parent endosulfan (α-, β-endosulfan) and major metabolite (endosulfan sulfate) were determined in vegetation and surrounding matrices at days 0, 7, 14, 21, 28, 42, and 60 using GC-MS. Their kinetic variables were determined. Order of ∑endosulfan distribution at day 0 was dry foliage > fresh foliage > bark > pods > soil (0–15 cm). No residual endosulfan was found in cocoa seeds and subsurface soil (15–30 cm). Low residual levels in pods on day 0 may be due to endogenous enzymatic breakdown, with α-isomer more susceptible and α/β-endosulfan ratio being 0.90. Fell dry foliage as mulch was predominantly the receiving matrix for non-target endosulfan sprayed. Volatilization was key in endosulfan dissipation between days 0 and 7 from foliage surfaces (> 60% loss), while dissipation trend was bi-phasic and tri-phasic for vegetation and soil, respectively. ∑endosulfan loss at terminal day ranged between 40.60% (topsoil) and 99.47% (fresh foliage). Iteratively computed half-lives (DT′ 50 ) ranged from 6.48 to 30.13 days for ∑endosulfan in vegetation. Endosulfan was moderately persistent in pods—a potential source for cross contamination of seeds during harvest. Iteratively determined DT′ 50 and initial-final day DT 50 are highly correlated (R = 0.9525; n = 28) and no significant difference (P = 0.05) for both methods

Neural Network and Econometric-Based Utility Parameter Model for Cost Management of Building Projects

The aim of the study is to develop a project cost centre utility parameter-based econometric model that incorporates econometric parameters using neural network. Construction cost of residential building projects was used in this study. Random sampling technique was used to select projects completed between 2009 and 2011 , and were examined for their cost centres validity. Final construction cost (As-built cost) of selected four hundred (400) projects were further modified with econometric factors like inflation index, cost entropy and entropy factor and were used to form and train neural network Back propagation neural network algorithm used. Probability technique was used to generate risk impact matrix and influence of entropy on the cost centres. In this study a parametric model similar hedonic models was generated using the utility parameters within the early and late elemental dichotomy. The developed model was validated through comparative analysis ofthe econometric loading attributes of the variables involved, using Monte Carlo technique of SPSS software by extracting the resultant contingency coefficient. This attribute would help client, project team and contractor manage cost of construction, also, it would enable a builder or contactor load cost implication of an unseen circumstance even on occasion of deferred cost reimbursement and hel

Serodiagnosis of Samonella Infection using a Logistic Regression Model

Abstract - Salmonella infection remains a major global health problem and worsened by lack of appropriate diagnostic tools, which have not significantly improved, particularly in low-income nations . Salmonella typhi is the most common causative agent of typhoid fever and the prevalence of this illness has been on the increase specifically in areas of poor personal hygiene and sanitation.. This study was carried out to further improve the diagnosis of salmonella infection, through a mathematical regression model. An analysis was performed using the logistic regression approach and the predictability of the model was done by extracting fifteen (15) typhoid observations from the obtained samples; for the model to predict their status. The model was able to accurately predict 66.7% of the observations. This study showed an increased prevalence in typhoid fever including a significant correlation between typhoid fever and other parameters. The global burden of this illness can be minimized by proper vaccination, and prompt but appropriate diagnosis and treatment.Further studies also needs to be carried out to further improve diagnosis and treatment regimen Keywords: Salmonella infection, Typhoid fever,Diagnosis, logistic regressio

Modelling Sustainable Construction Workplace Management Practice and Job Satisfaction in Construction Firms in Lagos State

Importance of having a sustainable workforce management practice in construction firms cannot be overemphasized, especially when primary objective of an organization is high productivity. The study presents therefore, sustainable human resources management practice that could influence job satisfaction among construction workforce. One hundred and fifty (150) questionnaires were used for the study. Random sampling technique was used in sample selection, SPSS software was utilized in data processing and analysis while results are presented in tables and charts. The study generated a regression model that could be used to recommend sustainable work force practice. The following practices were recommended as a key to good workforce management: priority in training and retraining of workforce, good remuneration system, good occupational health and safety provision among others. It is believed that a good construction workforce management practice would induce high worker's productivit