DETERMINANTS OF INFLATION IN NIGERIA: A CO- INTEGRATION APPROACH

Inflation is undeniable one of most leading and dynamics macroeconomics issues confronting almost all economies of the world. Its dynamism has made it an imperative issue to be considered. Hence the study examines the factors affecting inflation in Nigeria. Time series data were employed for the study. The data was sourced from the Central Bank of Nigeria and National Bureau of Statistics. Descriptive statistics and cointegration analysis were the analytical tools used. It was observed that there were variations in the trend pattern of inflation rate. Some of the variables considered were significant in determining inflation in Nigeria. The previous total export was found to have a negative impact on current inflation while the previous total import exerts a positive effect likewise the food price index. It has thus been recommended that policies that will set the interest rate to a level at which it will encourage investment and increase in production level could be institutionalized, importation should be reduced in Nigeria such that it will not encourage change of consumer taste resulting to inflating prices, exchange rate system should be maintained at a level that will not impose threat on the Nigeria economy and the domestic consumption of petroleum product should be focused, not only exportation.Financial Economics,

CHROMATOGRAPHIC SEPARATION AND SPECTRO-ANALYTICAL CHARACTERIZATION OF A NATURAL AFRICAN MINERAL DYE

Chromatographic fractionation and spectroscopic characterization of a natural African mineral dye have been carried out. The chromatographic separation of the dyes made use of column and thin layer chromatographic techniques. Some physicochemical properties of the dye including solubility in polar and non-polar solvents, pH, ash and organic contents were determined. The spectro-analytical techniques used for characterization included energy dispersive X-ray fluorescence (EDXRF), X-ray diffractometry (XRD), Optical microscopy, infrared (IR) and UV-VIS spectroscopy. Four different fractions having colours yellow, grey, orange and purple were obtained from the chromatographic separation. All the fractions were found to contain aromatic nucleus based on IR and UV-VIS spectroscopic data. Other functional groups detected are Ar-NH2, -CONH2, C=C, C-C and metal-carbon chelate rings. The presence of aromatic amine in the dye provides strong evidence for its use as hair dye. The dye was found to be soluble in both aqueous and non-aqueous solvents. The pH of the dye's aqueous solution was found to be 8.6, and the ash and organic content of the raw dye were 49 % and 51 % respectively. The XRF revealed that the dye contains twenty elements with concentrations ranging from major to ultra-trace levels. The XRD also showed that the sample contains about forty-six mineral phases which include both inorganic and organic components. The maximum absorption wavelength (λmax) in UV-VIS of the aqueous solution was found to be 464 nm. The optical microscopic investigation gave indication that the dyes are likely to be of the marine origin. KEY WORDS: Natural African mineral dye, Chromatographic separation, Composition, Inorganic, Organic, XRF, XRD, Optical microscopic, Marine, Aromatic amine Bull. Chem. Soc. Ethiop. 2007, 21(2), 159-170

Determinants of Inflation in Nigeria: A Co- Integration Approach

Inflation is undeniable one of most leading and dynamics macroeconomics issues confronting almost all economies of the world. Its dynamism has made it an imperative issue to be considered. Hence the study examines the factors affecting inflation in Nigeria. Time series data were employed for the study. The data was sourced from the Central Bank of Nigeria and National Bureau of Statistics. Descriptive statistics and cointegration analysis were the analytical tools used. It was observed that there were variations in the trend pattern of inflation rate. Some of the variables considered were significant in determining inflation in Nigeria. The previous total export was found to have a negative impact on current inflation while the previous total import exerts a positive effect likewise the food price index. It has thus been recommended that policies that will set the interest rate to a level at which it will encourage investment and increase in production level could be institutionalized, importation should be reduced in Nigeria such that it will not encourage change of consumer taste resulting to inflating prices, exchange rate system should be maintained at a level that will not impose threat on the Nigeria economy and the domestic consumption of petroleum product should be focused, not only exportation

DETERMINANTS OF INFLATION IN NIGERIA: A CO- INTEGRATION APPROACH

Inflation is undeniable one of most leading and dynamics macroeconomics issues confronting almost all economies of the world. Its dynamism has made it an imperative issue to be considered. Hence the study examines the factors affecting inflation in Nigeria. Time series data were employed for the study. The data was sourced from the Central Bank of Nigeria and National Bureau of Statistics. Descriptive statistics and cointegration analysis were the analytical tools used. It was observed that there were variations in the trend pattern of inflation rate. Some of the variables considered were significant in determining inflation in Nigeria. The previous total export was found to have a negative impact on current inflation while the previous total import exerts a positive effect likewise the food price index. It has thus been recommended that policies that will set the interest rate to a level at which it will encourage investment and increase in production level could be institutionalized, importation should be reduced in Nigeria such that it will not encourage change of consumer taste resulting to inflating prices, exchange rate system should be maintained at a level that will not impose threat on the Nigeria economy and the domestic consumption of petroleum product should be focused, not only exportation