Foreign Portfolio Investments and Economic Performance of Nigeria

The study verifies the theoretical literature of Osaze (2011) that opined that foreign portfolio investments (FPI) destabilize Nigeria economy. It specifically employed time series data for the period 1986-2015 sourced from Central Bank of Nigeria (C.B.N) bulletin and World Bank  analyzed with Error Correction Model (ECM), Ordinary least square and correlation techniques to determine whether FPI stimulate or destabilize economic performance of Nigeria. Based on the results generated by the analyses, at short run, FPI with t-statistics of -4.225760 significantly and negatively impact the economic performance of Nigeria unlike stock Market Development with t- statistics of 3.947143 and Capital formation 10.97692 with t- statistics of 2.389578 that significantly and positively impact economic performance of Nigeria at the short run.  The results of long run Ordinary Least squares (OLS) also confirm that, FPI with t-statistics -0.726212 negatively impact economic performance of Nigeria though not significant unlike the stock market development with t- statistics of 3.815102 and capital formation with t- statistics of 3.823441 that significantly and positively impact on economic performance of Nigeria at the long run. On this basis of these findings, the study concluded that FPI poises threat to Nigeria economy, partly because it more amenable to sudden withdrawing.  Against this high negative volatility associated with it, policy makers must devise strategies to reap the benefits of financial integration while managing the capital risks posed by FPI on the domestic economy. This can be done by develop strong institutions to attract other components of foreign resources increase the dwelling foreign services and augments capital formations imperative to resuscitate the declining performance of the economics. Keywords: Portfolio Investment, Economic performance, Gross Domestic Product, Capital formation, Error Correction Mode

Value Added Tax and Economic Growth in Nigeria

Tax is a major fiscal policy employed by every nation of the world to generate revenue to implement developmental activities and stimulate the economy towards growth. To further boost government revenue generation in Nigeria Value Added Tax (VAT) was introduced by Act No. 102 of 1993 and it became operational in January, 1994. This study focused on Value Added Tax (VAT) and economic growth in Nigeria. It employed time series survey of data covering a lapse period of twenty years (1994-2013). Data were obtained from Central Bank of Nigeria (CBN) statistical bulletin and Federal Inland Revenue Service (FIRS) data. Diagnostic tests consisted of normality test, Ramsey RESET test for misspecification and Breusch–Pagan-Godfrey Serial Correlation LM test for the presence of auto correlation. The statistical tool employed was simple linear Ordinary Least Square (OLS) regression. Data was estimated with computer software E-views 8.0. The study found that VAT is statistically significant, suggesting that VAT has positive relationship with economic growth in Nigeria. Hence, this paper recommends among others that the government should reform the Value Added Tax system for better effectiveness and increase the present VAT rate of 5% to 10% in line the prevailing rate of others countries in the world. The paper concluded that if the Value Added Tax is reformed, the resultant effect will cushion the impact of the fall in oil revenue on government expenditure and its attendant effect on economic growth of the country. Keywords: Economic Growth, Expenditure, Nigeria, Revenue, Value Added Ta

Solid state formation of calcium carbide

Acetylene is known as an essential chemical building block with increasing prominent applications as a raw material in the production of important organic compounds. An indirect method used to synthesize acetylene is through the decomposition of CaC2 in the presence of water. The current work investigated a process for the synthesis of calcium carbide via a solid-state reaction route and the general kinetics of the reaction was characterized. The calcium carbide was synthesized by conventional and microwave heating (6 kW, 2.45GHz) of micron-sized calcium oxide and carbon powders in argon. The temperature range for these reactions was between 1000--1800°C. The work succeeded in preparing CaC2 within several minutes using microwave heating. A well-crystallized product was obtained with purities as high as 90% CaC2. Three different phase were identified during the reactions depending upon the temperature regime; CaC2 II (at 1600°C), CaC2 II & III (at 1650°C) and CaC2 I, II & III (at 1700°C) were identified using a x-ray diffraction phase identification technique. The apparent activation energy calculated was found to be approximately 125.66 kJ·mol-1.;In addition to variation in reaction temperature, uniaxial pellet compaction load, reaction times, sample mass and heating rates were also varied. The influence of solid particle surface contact, carbon source reactivity and mold configuration were included in this investigation. The effects of the processing techniques and variables on the final density, microstructural properties and percent purity of the resulting products were characterized using the gas chromatograph, X-ray photoelectron spectroscopy and X-ray diffraction techniques.;Finally, the calcium carbide synthesized via microwave heating yielded 80% more carbide formed compared to conventionally processed carbide at 1600°C. The reaction kinetics was increased for all temperatures using the same feed amount. The density and degree of purity of the products were affected by reaction temperature and exposure time, starting particle size of the reactants and the dimension of the sample container

Igala Traditional Marriage in Relation to Christianity

Marriage is a sacred and customary duty which every adult Igala is expected to undertake in order to be “fulfilled” in life. As such, somewhat similar to the provisions of other cultures in Africa and religions such as Christianity, there are procedures, limits and some constitutive rules that cater for a normal and sacred nature of marriage in Igala. These include: courtship and the marriage ceremony itself. Marriage can be said to be fruitful in Igala culture if only it brings forth children. Hence an unfruitful marriage can easily break-up. It is believed that at the end of this work, the effects of traditional marriage in the life of Igala people in relation to Christian marriage will be better appreciated. This research employs information from field, books, Journal, oral history, the internet and articles. The research will ultimately add to the body of knowledge on similarities and differences between Igala traditional marriage and that of Christianity. The study finds that truly, the marriage institution among Igala people in relation to Christianity alters the life of the people. Keywords: Igala, Tradition, Marriage, Christianit

Robotic Process Automation (RPA): A Revolution in the Accounting Industry, A study on Deposit Money Banks, Nigeria.

Robotic Process Automation is an Era of Technology utilization, where every sector in every industry may experience software or hardware bots (automation), making monotonous, tedious and mundane tasks easier to handle by simple codes and configurations to give desired results. RPA, in Accounting is a new Technology relative to UTAUT, it has a few researcher examining its depths in the field, whereas, in this research, the researcher examined its entrance into the Nigerian Banks, its usefulness, its risk and ideologies on future research in the field. A non- random technique of staffs in the banking sector of Accounting, a large percentage were Accountants, a number of 129 respondents were surveyed, in Kaduna, Nigeria. With the aid of correlation analysis, descriptive statistics. There were key findings as such; (1) There was a significant relationship between RAP and record keeping (2) There was a significant relationship between RAP and receipt and payments (3) There is a significant relationship between RAP and cost reduction. The outcomes remain constant in its positive variables, that indeed RAP has earned more rather than incurring expenses and eliminating errors in its accountability of receipts and tellers. A wholesome recommendation on adaptability of RAP is presented in the study

Response characteristics of a negative temperature coefficient thermistor

This article focuses on the thermistor as a device that is widely used for temperature measurement and control in most electrical and electronic devices and appliances. The research is based on the type of thermistor used in photocopiers with particular reference to Minolta Bizhub (model-210) photocopier. The resistance and temperature were recorded by the application of conventional heat to deduce the response curves of resistance versus temperature and resistance/time. Results obtained from the characteristics show that the thermistor employed in the photocopier is a negative temperature coefficient (NTC) device. Also, there was a time variation in the response of the thermistor resistance to temperature changes, which indicates that the thermistor under test functions as a temperature control device. The shape of resistance versus temperature curve appeared to be similar to that of a typical NTC thermistor characteristics

Performance evaluation of 2.4kVA grid-tie inverter

This paper is focused on experimenting the overall performance of a 2.4kVA direct solar power supply system. The overall aim is to implement a solar power supply system without a battery back-up in order to minimize cost. The objectives include measuring the performance of grid-tie inverter, determine its period of operation under load conditions, to make the use of batteries optional in solar power supply system and minimize initial cost of installation. Various tests (variable load, fixed load and no-load) were carried out for the purpose of analysis. A dual trace digital storage oscilloscope was used to monitor the output waveform of the inverter to observe possible harmonic distortion on the waveform. The inverter takes its input power directly from the solar modules (panels) through the maximum power point tracker (MPPT) charge controller. Each category of test was conducted for at least three days of different weather conditions, to determine how variation in the sun’s intensity (irradiance) affects the operation of the inverter and its output power. Test results show that the inverter performs its function during the day apart from the early hours in the morning and later in the evening of each day, and the loads were powered successfully during the period of test.  The output waveform as observed from the oscilloscope is not purely sinusoidal; it is rather a modified sine wave

Changes in organ and body weight, serum amylase and antidiabetic effects of tannins from Spondias mombin on streptozotocin-induced diabetic rats

Background: Medicinal plants have been used for centuries in the management of chronic diseases including diabetes. Aim: The purpose of this study is to evaluate the possible antidiabetic effects and changes in serum amylase activities, body weight and organ weight of tannins from Spondias mombin on streptozotocin-induced diabetic rats. Setting: The study was conducted in the department of Biochemistry, University of Benin, Edo state, Nigeria. Methods: A total of 24 albino Wistar rats were divided into four groups (A through D). Group A served as the normal control. Diabetes was induced in rats of groups B, C and D by single-dose intraperitoneal administration of streptozotocin (65 mg/kg body weight) to overnight-fasted rats. Only rats with fasting blood glucose ≥ 250 mg/dL were used for this study. Isolated tannins (100 mg/kg body weight) were administered to rats of group D only. Blood glucose was monitored on Day 0, Day 3, Day 10 and Day 21. After 21 days experimental period blood samples were collected and used for serum amylase activities. Tissues (liver, pancreas, heart and kidney) were excised out and weighed. Results: Tannins-treated rats showed a significant increase in body weight and serum amylase activity when compared with the diabetic control. Also, a significant decrease in blood glucose level was seen in the tannins-treated rats when compared with the diabetic control. A significant decrease in the weight of the pancreas and a significant increase in the weight of the liver were seen in the diabetic control rats when compared with the tannins-treated groups. Conclusion: Tannins of Spondias mombin have an antidiabetic effect and can restore serum amylase and body weight changes resulting from streptozotocin induction

The Socio - Religious Significance of Obi (Kola Nut) among the Igala People of Kogi State

This paper focuses on the socio- religious significance of obi ( kola nut) among the Igala people of Kogi State, Nigeria. Obi is a significant item that is often eaten in socio-religious gatherings. Without it no traditional marriage can be celebrated in Igala-land. Its breaking and eating symbolize unity, peace, love and acceptance under the protective eyes of Ọjọchamachala (God) and Ibegwu (Ancestors). Suggestions are therefore made to make its socio-religious and socio-cultural importance global. Key words: Socio – Religious; Kola nut; Igala Resumé: Ce document se concentre sur la signification socio-religieuse de l'obi (la noix de kola) parmi les gens Igala dans l'état de Kogi, au Nigéria. L'obi est un élément important qui est souvent consommé lors des rassemblements socio-religieux. Aucun mariage traditionnel ne peut être célébré dans la région d'Igala sans ce fruit. Le briser et le manger symbolisent l'unité, la paix, l'amour et l'acceptation sous les yeux protecteurs des Ọjọchamachala (Dieu) et Ibegwu (ancêtres). Des suggestions sont donc faites pour lui rendre son importance socio-religieuse et socio-culturelle globale. Mots-clés: Socio – Religieux; la noix de kola; Igal