Analysis of the Effect of Fuel Subsidy Removal on Selected Food Prices in Port Harcourt, Rivers State Nigeria (2001-2012)

This research was conducted to analyse the effect of fuel subsidy removal on selected food prices in Port Harcourt (2001-2012) the food items considered were rice, yam, garri, beef and fish. The study objectives were to examine the impact of subsidy removal on prices of rice, garri, yam, beef and fish, examine the price of different food items before and after subsidy and to examine if subsidy removal causes inflation.  Secondary data were used. Five simple regression equations were built with fuel subsidy as independent variables (X1) while rice (Y1), yam (Y2) beef (Y4), garri (Y3) and fish (Y5) were the dependent variable.  The study showed that from 1966 to 2012, Nigeria had removed subsidy 24 times in 58 years, and that the prices of most food items increased astronomically from 2001 to 2012 especially beef and fish due to fuel subsidy.  The coefficient of determination (R2) showed that there was a significant relationship between food prices and fuel subsidy.  The study concluded that removal of fuel subsidy has affected food prices. It was recommended that the policy of removal of subsidy   be implemented gradually to avoid further increase in price of food items

Assessment of Budgetary Allocation to Agricultural Sector and its effect on Agricultural Output in Rivers State, Nigeria (1999-2010)

This research focused on the assessment of budgetary allocation to the agricultural sector and it effect on agricultural output in Rivers state, between (1999-2010).  The research only utilized secondary data generated by the Rivers state government of Nigeria through the ministry of agriculture.  The objectives of the research was to examine the agricultural output of some selected crops such as cassava, yam, oil palm and plantain, and  to examine the relationship between the budgetary allocation to the agricultural sector and the various output mentioned above as well as investigate the entire budgetary allocation to agricultural sector for a period of 12 years. Simple regression, percentages, and tables, were used as analytical techniques. The coefficient of determination,[R2] showed a very poor relationship between budgetary allocation to agricultural sector and output, meaning R2, was not significant for the four different equations. This is because allocation to agricultural sector was miss-applied. Keywords:          Budget, Allocation, Agricultural Outpu

Econometric Analysis of the Effectiveness of Fiscal Policy in Economic Growth and Stability in Nigeria (1985-2003)

This work focused on the Econometric  Analysis of the Effectiveness of Fiscal Policy in economic growth and stability in Nigeria between 1985 -2003. The study set four major objectives which include investigating the effect of fiscal policy on Gross Domestic Product , examining the effectiveness of fiscal policy in the control of inflation, determining the relationship between government spending and tax and to determine the effect of budget on investment or employment generation.  The study only utilized secondary data from the central bank of Nigeria.  The study specified a workable model in which GDP, inflation and balance of payment were the dependent variables white government expenditure , tax, capital formation ,foreign exchange rate, household consumption and money supply were independent variables. Ordinary least square [OLS] Technique, T-test, F-test  were used as analytical techniques. The study revealed that fiscal policy were effective in the control of the level of inflation and balance of payment since the coefficient of determination (R = 0.75 or 75%) was significant . on the flip side ; the study showed that fiscal policy was not effective in the control of GDP since the coefficient of the determination [R2 = 48% ] was not significant . This was confirmed by the F-test and T-test value . The study recommended that government should redirect its expenditure towards productive venture so as to increase GDP.  Also, infant industries should be given tax concession since increase in tax decreases GDP and vice vers

Share Prices Volatility and Economic Growth in Nigeria (1980 – 2018)

This research paper investigated the effects of share prices volatility on economic growth in Nigeria for the period 1980 to 2018. The research utilized secondary data which was sourced from the Nigeria Stock Exchange shares price list and the CBN statistical bulletin published on their website. Data for the study comprised of those on stock market prices in 5 sectors of the NSE and the growth rate of gross domestic product at constant basic prices. The Pooled Mean Group (PMG) of panel Autoregressive Distributed Lag Model (ARDL) method of analysis was adopted and analysis done using Eviews 10.0. Findings of the study showed that in the long run, both share price and share price volatility had positive signs. This implies that their shocks affected gross domestic product growth rate positively. The short-run Error Correction Term (ECT) had a coefficient of -0.512 and was statistically significant (PV<0.05. the negative sign indicated the correction of previous error in the subsequent term, the value (-0.512) implied that the speed of adjustment from the previous period to the long-run equilibrium is 51.2%. Hence, the model can converge to long-run equilibrium at a speed of 51.2%. In the short-run, share price volatility was negatively signed and statistically significant at 5% level of significance (t-cal = -1.984, PV = 0.044). This means that in the short-run (short term), volatility shocks reduced gross domestic product growth. The empirical discoveries in this research painted a negative and unstable future for the Nigerian economic growth if share price shock persists. Therefore, for long run economic growth, there is a strong need for policy makers to concentrate on policy that will improve and strengthen the economic structure. Thus, the study recommends that efforts be made towards enhancing and strengthening fiscal institutions so as to improve management of share revenues while promoting accountability and encouraging fiscal prudence in the economy