Efficiency across Time: Evidence from the Nigerian Stock Exchange

This paper examines the Weak-Form Efficient Market Hypothesis across time for the Nigerian Stock Exchange (NSE) by hypothesizing Normal Distribution and Random walk in periodic return series. Monthly all share indices of the NSE are examined for three periods including January 1985 to December 1992, January 1993 to December 1999, and January 2000 to December 2007. Our Normality tests are conducted using Skewness, Kurtosis, Kolmogorov-Smirnov, and Q-Q Normal Chart; whereas Random walk is tested using the non-parametric Runs test. Results of the Normality tests show that returns from NSE do not follow normal distribution in all the periods. Runs test results reject the randomness of the return series of the NSE in the periods studied. Overall results from the tests suggest that the NSE is not Weak-Form efficient across the time periods of this study. The results however, show that improvements in NSE trading system have positive effect on efficiency. Relaxing institutional restrictions on trading securities in the market and strengthening the regulatory capacities of NSE and Nigerian Securities and Exchange Commission (NSEC) to enforce market discipline were recommended.Weak-Form Efficiency, Random Walk, Normal Distribution, Nigerian Stock Exchange, Trading System

Poverty and its Alleviation Lessons for Nigeria

The study focused on the persistent poverty status in Nigeria in spite of all the actions and activities directly and indirectly put in place to reduce it. Nigerian poverty statistics and government actions in tackling poverty were examined. Few countries that have succeeded in reducing poverty position were briefly examined. Specifically, we highlighted how Malaysia, China and South Korea aspired and attained high level poverty alleviation. The lessons of their success stories were the basis for recommendations for Nigeria as a panacea for poverty reduction which has persevere in spite of every efforts over the years. Among the recommendations made include designing of poverty line for the entire geopolitical zone, stating target of poverty reduction within a time frame, and sincerely implementing and monitoring of strategies, programmes and policies. Kalu E. Uma | Paul C.Obidike | Frank O. Ozoh "Poverty and it's Alleviation: Lessons for Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-4 , June 201

Analisa Biaya Penyadapan Aren Masyarakat di Sekitar Kawasan Hutan Bungoro Kabupaten Pangkep

The aims of the research were to describe the process of palm sugar sapping, to calculate the production cost of the palm sugar businesses, and to describe the marketing channel of the palm sugar businesses. The research was conducted for two months (June-July 2007) in the area of Bungoro Forest. Data collection method were by conducting field orientation, observation, and interviews. Samples were determined by census to 14 palm sugar farmers. The analysis was carried out descriptive-qualitative method for sapping processes, palm sugar making, and the marketing channel. Meanwhile, the analysis of descriptive qualitative was applied for calculating the production cost and incomes. The process of palm sugar sapping was conducted by the farmers in the Bungoro Forest Area which were based on their habitual actions and experiences inherited by their parents. The average of the production cost was Rp 7,026,552/year/household and the average of incomes was Rp 10,705,500/year/household, therefore, the profits could be identified as Rp 3,675,948 per year per household. The marketing channel of palm sugar businesses in the study area were categorized in three: (1) producer directly to costumers, (2) producer to the dealers and to the costumers, (3) producers to the dealers, to the markets, then to the costumers. Key words : palm sugar, production, marketing channel Key words : palm sugar, production, marketing channe

Dinamika Kelompok Tani pada Kegiatan Rehabilitasi Hutan dan Lahan di Desa Bulue Kabupaten Soppeng

This watchfulness aims to detect dynamics that in farmer group in forest rehabilitation program arrangement and tune at village Bulue district Mario Riawa Regency Soppeng that carried out to begin March until June 2007, at Village Bulue District Mario Riawa Soppeng. Watchfulness sample taking method is done by using technics purpossive sampling (test picks according to choose affection) with sample total as much as 30 respondents. farmer group Mekar and Wisata less bloom caused by member bustle to managed rice field and garden, the group member Abadi farmer group on the wane being caused by the happening of conflict in maintenance year second. project RHL at village Bulue less success, caused by time-table plants done in dry season. Key words : Dynamics, farmer group Key words : Dynamics, farmer grou

Fabrication and characterization of pcl/ha/ppy composite scaffold using freeze-drying technique

Bone tissue regeneration and healing could be notably quickened via applying electrical stimuli in the defected area. Hence, a conductive tissue engineer ing sc affold that is capable of delivering the electrical stimuli is greatly desirable. In this study, electrically conductive sca ffold was fabricated by using a biocompatible conductive polymer, polypyrrole (PPY) in the optimized nanocomposite scaffold of Polyc aprolactone (PCL) and Hydroxyapatite (HA) using freeze – drying technique. The sc affolds were evaluated by using a number of techniques. The morphology of the scaffolds was observed and analyzed using a scanning electron microscope (SEM) . Composite scaffolds with suitable pore size distribution were obtained by freezing the polymer solution mixture at - 18ºC, by controlling the polymer and solvent phase crystallization. The result s showed that the average pore sizes were decreased from 123.7μm for PCL scaffolds to 91.6 μm with the incorporation of HA nanoparticles. Electrical conductivity of the scaffolds was evaluated using a digital multimeter. The wettab ility and porosity of the scaffolds were increase d with the incorporation of Polypy rrole than Polycaprolactone scaffold . The newly fabricated PCL/HA/PPY scaffold showed good prospect to be employed for bone tissue engineering applications

Islamic Extremism in Northern Africa, Case Study: Nigeria and Boko Haram

This event will feature three panelists: Christopher Preble of the CATO Institute, and Kelechi Kalu and Ousman M. Kobo of The Ohio State University, who will discuss the rise of Islamic extremism in Northern Africa, with an emphasis on Nigeria and Boko Haram.Ohio State UniversityMershon Center for International Security StudiesAlexander Hamilton SocietyEvent Web page, event photo