Communal and Ethnic Conflicts in Nigeria: The Case of the 1999 Sagamu Yoruba-Hausa Clash

The Yoruba and the Hausas are among the largest ethnic groups in Nigeria. While the Hausas live in the north of the country, the Yoruba dwell in the south western part. Trade in cattle and kola nut brought many Hausas to settle in the Remo-Yoruba town of Sagamu. Over the years, an harmonious relationship developed between the two groups until the conflict of July 1999. That conflict brought about far reaching impact not only on the town of Sagamu but also on the hitherto existing peaceful relationship between the two ethnic groups. This paper is an historical analysis of the Hausa/Yoruba conflict. Unlike previous studies on the subject of conflict and ethnicity, this paper brings out the central importance of culture in the interrelationship between two ethnic groups living in a country. It shows that the failure to respect the culture of one ethnic group by the other was the root cause of the Yoruba/Hausa conflict.Keywords: Nigeria, Ethnic, Conflict, Hausa, YorubaLWATI: A Journal of Contemporary Research, 9(1), 145-157, 201

CINEMA BUSINESS IN LAGOS, NIGERIA SINCE 1903

Cinema business constituted an important aspect of the local economy in Nigeria during the colonial period. The business flourished from 1903 when the first film was shown in Lagos through into the 1970s and 80s. Lagos, being the nerve centre of commercial activities in Nigeria with a cosmopolitan population, had many cinema houses. Apart from enriching the owners, cinemas provided employment for many people and also served an important social function. People visited cinemas for relaxation and entertainment purposes. However, the downturn in the national economy and the emergence of the home video business created a negative effect on cinema ventures as many of the cinema houses were closed down. This paper is a history of the rise and decline of cinema ventures in the city of Lagos, Nigeria. It examines the nature of the business as well as the socio-economic impact on the society. It tries to unravel the factors that led to the decline of the business and the new trend in the re-emergence of cinema houses in the country. Key words: Cinema, Business, Lagos, Nigeria

In Vivo Adaptogenic Lipidomics of Essential Oil Extract of Thaumatococcus Daniellii Leaf

Thaumatococcus daniellii leaf had been described as being very functional biochemically, due to the essential biomolecules it contains in very regulated quantity. This study was aimed at evaluating the dietary effect of the T. daniellii leaf essential oil on lipid profile in selected tissues. Anti-stress activity was evaluated by lipid profile modulation (HDL, LDL, TRIG. and T. CHOL.). Quantitative and qualitative analyses of essential oil profile of the T. daniellii leaf extract were determined by Gas Chromatography and Mass Spectrophotometer (GC-MS). The GC-MS analyses revealed the amount of some volatile bioactive compounds, with total yield of 0.12% from leaf via hydrodistillation. 0.5ml daily dose of the essential oil revealed effective lipid modulating activity, thus could be of therapeutic importance at this dose. Keywords: Thaumatococcus daniellii leaf, Essential oil, Lipidomics, Adaptogenic, HDL, LDL, Total Cholesterol, Triglycerid

Stock Market and Economic Growth: The Nigerian Experience

The study examined stock market-economic growth nexus in the Nigerian economy. It specifically investigates the effects and the causal relationship between the two variables in Nigeria. This was with the view to providing empirical evidence for stock market operation to stimulate economic growth with maximising the welfare of the people. The study employed annual time series data from 1981 to 2008 collected from various issues of Central Bank of Nigeria’s Statistical Bulletin and Annual Report and statement of Account of Nigeria Stock Exchange 2009 edition. An Error Correction Mechanism (ECM) Model was adopted in the analyses of the interaction between stock market and economic growth. The granger causality pairwise test was conducted in determining the causal relationship among the variables. The empirical results showed that, there was unidirectional causality between stock market and economic growth, which ran from economic growth (GDP) to stock market (MCAP) at 5 percent significant level., stock market has negative effect on economic growth in the short run but positive effect in the long run with (t=1.6, P>0.05) and (t = 4.6, P<0.05) respectively. However, the effect was statistically significant at 5% level of significance only in the long run. The study concludes that, the Nigerian stock market is no exception to other developing countries which are working towards reforming and deepening their financial systems through the expansion of its stock markets in order to improve their ability to mobilize resources and efficiently allocate them to the most productive sectors of the economy so as to enhance economic growth. Keywords: Market Capitalization, Total Value of Transactions, Total New Issues, Gross Domestic Product and Bank Total Asse

Music Artistes and their Contribution to the Idea of Development in Africa, 1974-1987

This paper is a historical analysis of the contributions of music artistes to the idea of development in Africa in the period between 1974 and 1987. It seeks to show that concern for the development of the continent was not confined to the intellectual community. Music artistes were not merely interested in entertainment; they also paid attention to the real problems that confronted the society of their time, thereby sharing in the concern of political thinkers of all ages. The works of three artistes - Sonny Okosun, Fela Anikulapo-Kuti and Bob Marley - are selected for detailed examination, although references are made to other artistes. The study depended on primary and secondary source material. The paper is a contribution to knowledge in the field of African Political Thought.Key words: Music, artistes, idea, development, AfricaThought and Practice: A Journal of the Philosophical Association of Kenya (PAK)New Series, Vol.3 No.2, December 2011, pp.49-7

APPLICATION OF FINANCIAL ETHICS IN ANNUAL FINANCIAL REPORTING OF BANKS

The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities

Disaggregated Public Expenditure Patterns and Private Investment Outcomes in Nigeria

This study sought to find out the extent of relationship (if any) between the short- and long-term effects of the disaggregated component of government expenditure on private investments. Using the Auto Regressive Distributed Lag (ARDL) model, the study determined that components of both recurrent expenditure and capital expenditure are significant determinants of the relationships with private investment in the long run only. The results indicates that there is a significant crowding-in effect between components of government expenditure and private investments in Nigeria. This is consistent with the Keynesian school, particular for Nigeria’s economy which requires government to spend heavily in order to create the enabling environment for inflows of private investment while increasing aggregate demand and jobs. The study determined the optimal recurrent and capital expenditure models for the economy and also showed that lending rates inflation rates, exchange rates, and GDP growth rates, are significant determinants of private investments. Keywords: ARDL, Capital Expenditure, Private Investment, Recurrent Expenditure DOI: 10.7176/JESD/14-16-03 Publication date: October 202

Foreign Assistance, Institutional Quality and Economic Growth in Selected Sub-Saharan African Countries: 1990 – 2021

This study adopts the Augmented Mean Group (AMG) estimator to analyse the impact of institutional quality and foreign assistance on economic growth in Sub-Saharan African countries, using time series data sourced from the World Bank Development Indicators (WDI) and World Bank Governance Indicators (WGI) for the period 1990 to 2021. The study went a step further to determine whether there is a significant interactive development effect of foreign assistance and institutional quality in sub-Saharan African countries.   The results show that foreign assistance has a positive conditional marginal effect on per-capita GDP, institutional quality has a positive conditional marginal impact on per-capita GDP and their interaction is also positive. The results are all statistically significant at 10% level of significance. Thus, foreign assistance and good quality institutions improves economic growth. This does not imply that; sub-Saharan African region should heavily rely on foreign assistance, without putting in place specific developmental efforts. Thus, it is opined that policymakers should regulate the allocation of foreign assistance and improve the quality of institutions. In doing so, the production capacity of the region would increase and the region would attract huge amount of foreign direct investment (FDI). Consequently, there would be a distinction between the amount of foreign assistance needed to lessen poverty and the levels of foreign assistance required to achieve economic growth. Keywords: Foreign Assistance; economic growth; AMG Estimator, CCEMG Estimator, Institutional Quality and Sub-Saharan Africa DOI: 10.7176/JESD/14-8-07 Publication date: April 30th 202

Plasma lipid profile, atherogenic and coronary risk indices in some residents of Abeokuta in south-western Nigeria

The incidence of chronic degenerative diseases like stroke and myocardial infarction in African subpopulations is reported to be increasing. In view of the association between dyslipidemia and these chronic degenerative diseases, we investigated some well-established cardiovascular risk factors (plasma cholesterol and its fractions as high-density lipoprotein (HDL), low-density lipoprotein (LDL), triglyceride, adiposity and blood pressure) in 92 subjects (43 males and 49 females) in Abeokuta, Nigeria. LDL cholesterol was significantly higher in the women compared with men (128.58mg/dl vs 108.73mg/dl; p = 0.028). Total cholesterol, although slightly higher in women, was not significantly different from that of men (155.71mg/dl vs 147.26mg/dl). HDL cholesterol and triglyceride were not significantly different between the two sexes, although women tended to have lower HDL cholesterol when compared with men. LDL/HDL cholesterol and total cholesterol/HDL cholesterol were significantly higher in women compared with men (4.20 vs 2.97; p = 0.004; 5.03 vs 4.06; p = 0.024, respectively). Systolic blood pressure was higher in men compared with women (117.58 vs 104.84; p = 0.002). Results indicate that the association between cholesterol and chronic degenerative diseases is continuous with no single cholesterol level separating those who are at high risk from those who are not. Rather in defining cardiovascular risks in African populations, the ratios LDL/HDL cholesterol and total cholesterol/HDL cholesterol should be considered. It might be appropriate at this time in Nigeria to consider physical activity and pharmacological interventions in lowering blood lipids

Banking sector reforms and output growth of manufacturing sector in Nigeria (1970-2011)

The study investigated empirically the effect of banking sector reforms on the output of manufacturing sector in the Nigerian economy between 1970 and 2011 with a view to examining the extent of the impact of banking sector reforms on the manufacturing sector. The study employed annual secondary time series data from 1970-2011, sourced from the Central Bank of Nigeria’s statistical bulletin and annual report and statement of accounts, National Bureau of Statistics final accounts and IMF International Financial Statistics (IFS) using the methodology of Cointegration analysis and Error Correction Mechanism (ECM). The empirical results showed that the effects of Bank assets, Lending rate, Exchange rate and real rate of interest on manufacturing output were positively significant but with very low impact. On the other hand, the financial deepening and interest rate spread negatively and significantly impacted on the output growth of manufacturing sector in Nigeria. Overall, the conclusion that emerged from the findings suggests that the effects of banking sector reforms on the output growth of manufacturing sector were significantly low in the Nigerian economy. However, the findings indicated that the impacts of the various banking reforms could vary widely on the economy depending on the time lags involved. Consequently, the policymakers must be prepared to initiate proper countercyclical banking reforms that will serve as buffer measures to lessen or abort the negative impacts of any banking reforms on the manufacturing output growth. Thus a flexible accommodating banking reform regime is advocated for Nigeria