Econometric Analysis of Foreign Reserves and Some Macroeconomic Variables in Nigeria (1970–2007)∗

Countries are showing interest in accumulating foreign reserves to ensure macroeconomic stability. There has been some debate whether to beef up the level of nations’ foreign reserves or make it lower, especially in developing countries like Nigeria. Whereas some argue that the foreign reserve determines the country’s rating in the global market, others hold opposing views. In this light, this paper examined the interactive influence of foreign reserve (FRS) on some macroeconomic variables such as: economic size (GDP); trade; level of capital inflows (KFL); exchange rate (EXR); and inflation. Analyzing secondary data from CBN statistical bulletins (1970–2007), the econometric results obtained from cointegration test, vector error correction (VEC) within the framework of autoregressive distributed lags (ARDL) revealed the following: (1) existence of a longrun relationship between the variables and two cointegrating equations; (2) possibility of convergence of the variables from the short run to the long run with slow speed of adjustment. It is thus the conclusion of this paper that accumulation of large foreign reserves is not very productive in Nigeria due to its inability to induce some of the macroeconomic variables

Promoting a low cost energy future in Africa

With a large part of the population not having access to modern energy services in their daily life, energy poverty remains one of the most pressing development challenges on the African continent. Africa’s fossil fuel resources as well as its renewable energy potential can serve as the means to achieve this. For Africa’s social and economic development in the 21st century, however, the benchmark for these sources is to deliver energy that is affordable, reliable and sustainable. The following study offers a comparison between the two energy sources according to economic, social and environmental indicators. As the analysis shows, renewable energy technologies increasingly become the preferred option for Africa’s energy challenge. The study then concludes with a description of policies for African countries to realize the up-scaling of these technologies.Key words: Renewable energy, green growth, energy transition

Geo-electrical investigation for groundwater potential of Ihievbe Ogben, Edo North, south western Nigeria

This study was carried out within Ihiebe Ogben community in Akoko Edo LGA, Nigeria to investigate the ground water potential of the Basement Complex rocks using Vertical Electrical Sounding (VES) that deploys Schlumberger Array configuration. Evaluation of hydrogeological parameters shows fractured/ weathered basement thickness, resistivity values of the fractured basement, overburden thickness and basement relief having values between 1.5-7.9m, 64.5-503.9 Ωm, 5.2-15.7m and 136.8-160.7m respectively. Prospectivity ranking map was generated from these parameters and was used to rank the area around the VES stations. The results show that the most prospective areas with the highest ranking of 8,7 and 6 correspond to areas around VES station 6,1 and 2 respectively, restricted to the Eastern – Northwestern region of the study area.Keywords: Groundwater, Vertical Electrical Sounding, Fractured basement, prospectively rankin

The 'War' of Appropriate Pricing of Petroleum Products: The Discourse of Nigeria's Reform Agenda

This study focuses on the newspaper coverage of the debate on the pricing of petroleum products (petroleum, diesel, kerosene, etc.) in Nigeria. It seeks to examine, specifically, the discursive constructions of economic development with particular concern for the reform agenda in the country's petroleum sector. In doing this, the paper tries to analyze and characterize the debate on the increase in the prices of petroleum products in the country between 1999 and 2004; following on the heels of World Bank and International Monetary Fund (IMF)-driven reforms. It further situates the analysis of the debate within the history and politics of oil and development in the country with particular concern for the 'angles of telling' of the participants. Using the framework of critical discourse analysis (CDA), the paper attempts to show the ideological elements in the discourse of socio-political development in Nigeria as constructed by the different sociopolitical groups and concludes that the different angles of telling result from different underlying issues of identity and power

An augmented moment method for stochastic ensembles with delayed couplings: I. Langevin model

By employing a semi-analytical dynamical mean-field approximation theory previously proposed by the author [H. Hasegawa, Phys. Rev. E {\bf 67}, 041903 (2003)], we have developed an augmented moment method (AMM) in order to discuss dynamics of an $N$-unit ensemble described by linear and nonlinear Langevin equations with delays. In AMM, original $N$-dimensional {\it stochastic} delay differential equations (SDDEs) are transformed to infinite-dimensional {\it deterministic} DEs for means and correlations of local as well as global variables. Infinite-order DEs arising from the non-Markovian property of SDDE, are terminated at the finite level $m$ in the level-$m$ AMM (AMM$m$), which yields $(3+m)$-dimensional deterministic DEs. Model calculations have been made for linear and nonlinear Langevin models. The stationary solution of AMM for the linear Langevin model with N=1 is nicely compared to the exact result. The synchronization induced by an applied single spike is shown to be enhanced in the nonlinear Langevin ensemble with model parameters locating at the transition between oscillating and non-oscillating states. Results calculated by AMM6 are in good agreement with those obtained by direct simulations.Comment: 18 pages, 3 figures, changed the title with re-arranged figures, accepted in Phys. Rev. E with some change

Carcass characteristics and serum metabolites of finishing broiler chickens fed 8% crude fibre diets at three energy levels with or without enzyme

This study evaluated the carcass characteristics and serum metabolites of broiler finishers fed 8% CF diets with or without Roxazyme®G2G inclusion at three energy levels maintained at constant, calorie: protein ratio, for 56 days. One hundred and forty-four unsexed Obamarshal day-old broiler chickens were allotted to six dietary treatments at 24 birds per treatment of three replicates. The six treatments diet were produced from three basal diets for each phase at caloric concentrations of 2600, 2800 and 3000 ME (kcal/kg) to which 0 and 200 mg of Roxazyme®G2G were added per kg diet. Each replicate group was provided feed and water ad libitum in the deep litter and battery cage cells during the starter and finisher phases each of 28-day period respectively. Carcass parameters, gut length, organ weights and serum metabolites were measured according to established standard methods. Data were subjected to one-way analysis of variance in accordance with 2x3 factorial arrangement and means separated by Duncan Multiple Range Test (DMRT) at P < 0.05. Results showed that carcass yield of the birds fed 8% CF diet at 2600 ME (kcal/kg) diet with enzyme was comparable to those on 2800 and 3000 ME (kcal/kg) diets with or without enzyme. Gizzard fat, abdominal fat, serum glucose and cholesterol were also minimized in birds fed 2600 ME diet in addition to enzyme. Serum total protein, albumin, urea and creatinine were not significantly (P > 0.05) affected by treatment diets. It was therefore, concluded that higher dietary ME levels with or without enzyme increased carcass fat, blood glucose and cholesterol levels which must be considered in broiler chicken production for the health benefit of broiler consumers. Thus, it is recommended to produce broiler chickens on 8% CF diet at 2600 ME (kcal/kg) diet with the supplemental Roxazyme®G2G in order to reduce carcass fat, blood cholesterol and glucose without compromising carcass yield

The relevance of the school governance body to the effective decolonisation of education in South Africa

Decolonisation of education is understood in this paper as a means of formalising indigenous culture and knowledge within the formal school system. The focus of this paper is to see how the School Governance Body (SGB) can bring about decolonised education for sustainable development. The African societal culture and traditions seem to be misunderstood and side-lined today because of the privilege enjoyed by western values in formal education used to develop African children. The involvement of people at the grass roots who are still endowed with vast knowledge on this cultural heritage should be considered as an option. The South African school system gave room for community participation in the administration and management of schools under the system of School Governing Bodies (SGBs). These bodies have the potential of being a good source of indigenous knowledge and culture to the school system that will make the education more relevant and functional; hence, leading to sustainable development, if it is properly planned and tapped into. For this to happen, there is the need to examine the relevance of the body through close analysis of its composition and strength to assist in the decolonisation of education. This study adopted an ethnography approach of qualitative research. Three rural-based Eastern Cape communities were used where 18 parents participated in the study. Data were gathered through key informant interviews (KII) and focus group discussions (FGD). One of the results is that traditional leaders are part of the SGB, which makes it a good source of indigenous knowledge and traditions. It was recommended that the composition of the members of SGBs should statutorily include a recognised knowledgeable individual (RKI) in the community to make the body a good source of indigenous knowledge