Dynamic Effect of Public Expenditure on Oil Producing Economy: An Empirical Evidence from Nigeria

The paper examines the economic growth effect of government expenditure in Nigeria employing annual data from 1970 to 2017. Specifically, the study examines the short- and long-term effect of Federal Government total, recurrent, and capital expenditure on the real Gross Domestic Product (GDP). Different from the existing literature, the paper also shows the extent of oil sector integration, at the sectoral level, by investigating the effect of government expenditure on the agriculture and manufacturing sectors. The analysis was carried out using the Autoregressive Distribute Lag (ARDL) technique. Empirical results show that the aggregate government spending has a positive effect on the real GDP on the short and long-run. Mixed outcomes were realized when the effect of government expenditure on agricultural and manufacturing sector outputs were considered. In the short-run, total government expenditure cause agriculture sector output to decline. The long-run accumulated government spending leads to an increase in the agricultural sector output. The total government expenditure exerts a negative effect on the manufacturing sector output in the short-run. The effect was positive in the long-run. Outcomes from analyzing the differential effect of expenditure types on the real GDP show that capital expenditure had no impact on the real GDP, while government recurrent expenditure had a positive significant impact. Thus, efforts should be geared towards increasing capital spending for commensurate integration of oil benefits in the Nigerian economy

Application of Dynamic Programming Model to Production Planning, in an Animal Feedmills.

The problem of this study is that of determining the quantity of products to produce and inventory level to carry from one period to the other, with the objective of minimizing the total costs of production and the annual inventory, while at the same time meeting the customer’s demand. A mathematical model was formulated for a multi-product problem using Dynamic Programming approach. The model was solved using the solution procedure proposed by Wagner and Whitin. The results show that the minimum total cost will be achieved with production in periods 1, 2, and 4. While demand for period 3 are satisfied with inventory from period 2. The total cost of this plan is N225, 704, 210.00, which is N6, 155, 765.00 less than the existing plan. Keywords: Inventory, Model, Periods, Plan, Cost

Development Aid and Human Capital Development in Nigeria: A Sector Level-Analysis

Developing countries are generally faced with financial gap and budget constraints, and as such are dependent on aids to meet basic social and economic responsibilities. However, there are increasing concerns regarding the effectiveness of aid in developing countries, owing to worsening social and economic outcomes despite the huge amount of aid received from donor countries and institutions. This study therefore examines the effects of sector specific aid such as: health aid and education aid on life expectancy and primary school enrolment rate respectively in Nigeria, controlling for the influence of government expenditures on health and education. The Autoregressive Distributed Lag (ARDL) model was adopted with annual data from 1981 to 2017. Findings revealed that health aid is beneficial as it significantly increases life expectancy by about 0.03%. Recurrent expenditure complemented health aid by increasing life expectancy by 0.03%. However, education aid is detrimental to primary school enrolment as it reduces the rate by 0.07%. Thus, it is concluded that education aid have not had the desired impact on education in Nigeria

THE IMPACT OF ACCESS TO ELECTRICITY ON EDUCATION AND HEALTH SECTORS IN NIGERIA’S RURAL COMMUNITIES

This study examines the impact of access to electricity on health and education measured by increased number of hours to study and reduced indoor air pollution of rural communities in Nigeria. Primary data from twelve (12) rural communities that have benefited from rural electrification since 1997 in Oyo State, southwest, Nigeria was collected. Key empirical findings revealed that children study hour reduces with household access to grid electricity, it decreases by 8 percent. Expenditure on electricity significantly decreases children study hour by 12 percent. Electrification decreases the rate at which indoor air pollution reduces by 1.1 percent. Household electricity expenditure increases with reduction in indoor air pollution, it decreases the rate of air pollution by 1.6 percent. Better illumination due from access to modern electricity reduces indoor pollution by 1.2 percent. To enhance the electrification benefits, the adoption of the minigrid option is inevitable, which requires government commitment for sustainability. The off-grid solution, which is usually renewable solution, with strong supporting legislation is equally required for rural electrification strategy. The efficiency of the existing electricity system entails the implementation of the gas master plan, which is crucial in paving way for increasing supply reliability, coverage, and then higher social benefits

Aspects of Connected Speech Processes in Nigerian English

Nigerian English (NigE), like other new Englishes, possesses its unique features at various domains of phonology. This article examined aspects of connected speech processes (CSPs), the phenomena that account for sound modifications and simplifications in speech, with a view to establishing features that characterize Standard NigE connected speech. Natural phonology (NP), which provides explanations for substitutions, alternations, and variations in the speech of second language speakers, was adopted as theoretical framework. The subjects of the study were 360 educated NigE speakers, accidentally sampled from different language groups in Nigeria. The CSPs found in their semi-spontaneous speeches were transcribed perceptually and analyzed statistically, by allotting marks to instances of occurrence and converting such to percentages. Three categories of CSPs were identified in the data: dominant, minor, and idiosyncratic processes. The study affirms that only the dominant CSPs, typical of NigE speakers, are acceptable as Standard Nigerian spoken English

Assessment of nutritional status of school children in Oyo West Local Government Area, Oyo State, Nigeria

Objective: The objective of this study was to assess the nutritional status of primary school children in Oyo West Local Government Area of Oyo State.Materials and Methods: A cross-sectional survey was among 499 primary school children. The study instrument was a pretested interviewer-administered questionnaire. Data on weight, height and age of the school children were converted to nutritional indices (wasting, stunting and underweight) to determine their nutritional status. Cross-tabulation was done to compare the nutritional status of the school children on the basis of their socio-demographic characteristics.Results: The results showed that the mean age of the school children was 8.54  ± 2.24 (range = 4 to 15) years Majority of the children came from monogamous families (65.9%) and lived with both parents (66.1%). Fathers and mothers of the children were largely artisan (57.7%) and traders (59.9%) respectively. Only 83.8% of the school children consumed breakfast on a daily basis. The prevalence of wasting, stunting and underweight among the school children was 4.0%, 14.6% and 9.8% respectively. Prevalence of wasting (4.7% versus 3.7%) and underweight (10.5% versus 9.5%) was marginally higher in polygamous than monogamous families respectively. Lower proportions of the school children were wasted (3.0%) stunted (12.7%) and underweight (8.5%) when they lived with both parents compared with other living arrangements.Conclusion: The study concluded that malnutrition exists among school children in the study area and that school children not living with their parents had poor nutritional status.Keywords: Nutritional status, school children, demographic characteristics, breakfas

Value gap in Nigerian property compensation practice: Measurement and economic effects

The compulsory acquisition of some properties by Ogun State Government, Nigeria, along urban roads for road expansion required compensation for the affected owners. Statutorily, Estate Surveyors and Valuers (ESVs) are the recognized professionals who determine property value in Nigeria. This paper seeks to measure the gap in values between those submitted by ESVs representing the government and those ESVs representing claimants for the same property to investigate the economic implication of the variation on the claimants and the ESVs representing claimants, through the administration of 409 questionnaires to the claimants and the claimants’ ESVs. The findings indicate a gap in value of above 41% between claimant’s ESV’s and government’s ESV’s, leading to an 83.29% (NGN8.88 m) loss of fee to claimant’s ESV’s. It is suggested that the Nigerian Institution of Estate Surveyors and Valuers should recommend standardized building cost per square metre data and provide guidance on an acceptable value gap to minimize the observed wide value gap in the future

Analysis of the performance and acceptance of real estate investment trusts (REITs) in Nigeria / Olusegun Olaopin Olanrele

The over fifty (50) years existence of Real Estate Investment Trust (REIT) and its global adoption as a collective investment instrument for real estate sector development and growth testifies to the high return investment vehicle REIT is. The instruments in most REIT markets of America, Europe and Asia have recorded high and superior dividend yield with outstanding outperformance to their markets as widely reported by literatures and in the European Public Real Estate Association (EPRA) Global REIT surveys. The enactment of the Nigeria Investment and Securities Act (ISA) in 2007 heralded the introduction of REIT in Nigeria. However, the adoption of REIT in Nigeria in 2007 (same year with the United Kingdom and Germany) has not attracted any study either locally or internationally. The emerging African REIT regimes are yet to attract the coverage of global REIT markets surveys as well, except for the PUT & PLS of South Africa that just legislated in favour of the modern REIT. Nigeria with an economy of US$521bn in GDP, the largest in Africa, 8.5% growth rate and a population of over 170 million people presents a ready market for real estate products that can grow the property market. In the absence or availability of any study of Nigeria REIT (N-REIT) in its seven years of existence, it becomes inevitable to undertake an empirical study of the performance of Nigerian REIT. Such a study will bring Nigeria REIT to global awareness and will also be useful for the foreign direct investment decision into the Nigerian property market. The objectives of this research include assessment of N-REIT performance, identifying key factors affecting performance and their effect size on yield and an appraisal of real estate development financing as investment diversification option for N-REIT in the face of an acute shortage of development fund in the country. The research adopted mixed methods of secondary data analysis and a questionnaire survey. N-REIT outperforms the market and have low dividend but underperforms the property company. The Nigerian investors’ awareness of REIT is low resulting in low participation of both individual and institutional investors in Nigeria REIT market. There are 13 variables of influence that affect REIT return. The principal component analysis and correlation statistics reduced the variables to 5 most important variables with a significant 90% effect size as shown by the regression analysis. The study further found a diversifier benefit in real estate development financing to N-REIT at 85% and 15% real estate acquisition and financing asset allocation. The study gives an insight into Nigeria REIT market and its characteristics. The findings of the research are expected to guide investors in real estate securities of REITs, property trusts and property company shares. The limitation of the findings of this study is the REIT sample of 3 REIT companies and lack of previous study on Nigeria REIT which prevents this pioneering research from including mixed asset portfolio assessment

Land Right Registration and Property Development for Poverty Eradication and Slum Clearance in Nigeria

The focus of this paper is to unfold the implication of non-registration of land rights on the achievement of the poverty eradication and slum clearance targets of the United Nation's Millennium development goals in Nigeria. The paper is based on empirical survey of land holding in the outskirts of Ibadan city and the rural areas in Oyo State, of Nigeria. A case study research method was adopted and data were collected with the use of questionnaire survey and secondary data was also extracted from the state land registry office in respect of total cost of documentation of subsequent transaction on titled/registered land. The study found that ignorance and government insensitivity in addition to high cost and delay are among major constraints to land titling. Only a few opportune people can afford the land right formalization process and they do so when it becomes necessary. These unequivocally militate against the achievement of the poverty and slum eradication goals of the UN. The paper suggested simplification of the titling procedure, cost reduction, computerization and public enlightenment on the benefits of registered land right to facilitate efficient land right registration towards adequate housing for the citizenry