An Analytical Review of Financial Intermediation in the Rural Areas of Nigeria

This study analyses financial intermediation in the rural financial sub-sector of Nigerian economy. In achieving the objective of the paper, we investigate the relationship between the total deposit mobilized and the total loan advanced by the formal bank branches located in the rural areas of Nigeria from 1982-2009. The study uses time series secondary data collected from various issues of the Central Bank of Nigeria (CBN) statistical Bulletin, the data was analysed using the Augmented Dickey Fuller unit root tests and Johansen cointegration tests allowing for using fully modified Ordinary Least Square (OLS) method. The study found that rural deposit has a significant positive influence on rural loans while the influence of interest rate is positive but not significant. The result of Pearson Product Moment Correlation revealed a fair correlation between deposits mobilised and credits allocated in rural areas of Nigeria. As such, 48% of the deposit mobilised is given out to rural customers as loan. The study concluded that formal bank branches in the rural areas have done fairly well in terms of credit creation although there is still room for expansion. However, limited presence of financial institutions in the rural areas is the major problem inhibiting financial intermediation in the rural areas of Nigeria. The study, therefore, recommends that the CBN should direct all rural banks to give out at least 60% of their deposit as the loan to rural borrowers while linkage banking should be used for the very remote communities where formal bank branches could not be located

An Analytical Review of Financial Intermediation in the Rural Areas of Nigeria

This study analyses financial intermediation in the rural financial sub-sector of Nigerian economy. In achieving the objective of the paper, we investigate the relationship between the total deposit mobilized and the total loan advanced by the formal bank branches located in the rural areas of Nigeria from 1982-2009. The study uses time series secondary data collected from various issues of the Central Bank of Nigeria (CBN) statistical Bulletin, the data was analysed using the Augmented Dickey Fuller unit root tests and Johansen cointegration tests allowing for using fully modified Ordinary Least Square (OLS) method. The study found that rural deposit has a significant positive influence on rural loans while the influence of interest rate is positive but not significant. The result of Pearson Product Moment Correlation revealed a fair correlation between deposits mobilised and credits allocated in rural areas of Nigeria. As such, 48% of the deposit mobilised is given out to rural customers as loan. The study concluded that formal bank branches in the rural areas have done fairly well in terms of credit creation although there is still room for expansion. However, limited presence of financial institutions in the rural areas is the major problem inhibiting financial intermediation in the rural areas of Nigeria. The study, therefore, recommends that the CBN should direct all rural banks to give out at least 60% of their deposit as the loan to rural borrowers while linkage banking should be used for the very remote communities where formal bank branches could not be located

An Analytical Study of the Determinants of Access to Insurance Services in Rural Nigeria

This paper analyses the determinants of accessibility of insurance services in rural areas of Nigeria. The paper uses cross-sectional primary data sourced through a structured questionnaire from 384 respondents dwelling in rural areas of Katsina state. In analysing the data Logit modelling approach was used to find a significant positive influence of age, access to credit, educational attainment and availability of insurance services on access to insurance services. Moreover, the influence of income and gender are positive but statistically insignificant. Contrary, the study finds a significant negative influence of marital status on the accessibility of insurance services in rural areas. The study therefore concluded that deepening of insurance services in rural areas requires a special intervention taken into cognisance of religious viewpoint of these people. We recommended among other things, that while establishing micro-insurance in the rural areas of Northern Nigeria should be in conformity with the principles of Islam

An Analytical Study of the Determinants of Access to Insurance Services in Rural Nigeria

This paper analyses the determinants of accessibility of insurance services in rural areas of Nigeria. The paper uses cross-sectional primary data sourced through a structured questionnaire from 384 respondents dwelling in rural areas of Katsina state. In analysing the data Logit modelling approach was used to find a significant positive influence of age, access to credit, educational attainment and availability of insurance services on access to insurance services. Moreover, the influence of income and gender are positive but statistically insignificant. Contrary, the study finds a significant negative influence of marital status on the accessibility of insurance services in rural areas. The study therefore concluded that deepening of insurance services in rural areas requires a special intervention taken into cognisance of religious viewpoint of these people. We recommended among other things, that while establishing micro-insurance in the rural areas of Northern Nigeria should be in conformity with the principles of Islam

Methods of curing geopolymer concrete: a review

Geopolymer concrete is a new approach of concrete production by exclusion of ordinary Portland cement entirely with pozzolanic material. Beside water, concrete is the largest consumed substances, which demand huge portion of Portland cement. During Portland cement manufacturing process, high emission of carbon dioxide (CO2) is produced which results in polluting the surrounding environment. Moreover, a lot of energy is expended during cement production. Based on manufacturing situations, geopolymer concrete displays different behaviors and attributes. This paper succinctly discusses the different methods of curing of geopolymer concrete and figures out the best method of curing. Experimental findings revealed that condition of curing has a good influence on the mechanical properties of geopolymer concrete. Conventionally, ambience temperature curing of geopolymer concrete result in low strength development at an early age, while higher temperature curing results in significant strength improvement. Similarly, extended curing time enhanced the geopolymerisation mechanism and achieved greater strength. However, longer duration of curing at an elevated temperature result in failure of the sample

Development of bio-based cutting fluid from roselle oil with titanium dioxide nano additive for cnc machine turning operation

The research work titled Development of Bio-Based Cutting Fluid from Roselle Oil with Titanium Dioxide Nano Additive for CNC Machine Turning Operation was carried out in in line with the global best practices of ensuring sustainable production during Computer Aided Manufacturing. Nano additive were collected in three different samples base oil 0 wt %, 0.5wt% and 1wt% of TiO2. Viscosity test was carried out using a viscometer with base oil, 0.5wt% and 1.0wt% having 3.19, 2.86 and 2.75m²/s respectively. Furthermore, the identification of unknown materials and confirmation of the sample materials were analyzed using FTIR spectroscopy with the materials being identified as carboxyl, hydroxyl, alkane, amide carboxyl and amide acid. Turning operation was carried out on a Harrison center machine with a mild steel work piece at constant depth of cut (1.5mm), constant feed rate (0.3mm) and cutting speeds at 80, 160 and 240rev/min. tool wear, surface finish, chip thickness and chip formation were analyzed. With an increase in Nano fluid concentration of 0.5wt% and 0.1wt% relative to base oil, a decrease in kinematic viscosity has been observed. In comparison to base oil and 0.5wt% TiO2, Nano fluid equal to 1.0wt% TiO2 shows enhanced results. When titanium dioxide was added instead of base oil, tool wear and surface finish are enhanced more. The percentage increase in nanoparticles, along with the observed changes in chip thickness, shape, and formation, point to the importance of nanoparticles at the tool/workpiece interface

Antimicrobial Studies of Aqueous Extract of the Leaves of Lophira Lanceolata

ABSTRACT The antimicrobial activity of aqueous extract of the leaves of Lophira lanceolata was tested on Aspergillus niger, Bacillus subtilis, Candida albicans, Escherichia coli, Pseudomonas aeruginosa, Selaginella selaginoides, Shigella dysenteriae, Staphylococcus aureus, and Streptococcus pyogens. The micro organisms were chosen because they are associated with dysentery, diarrhoea , skin infection, especially burn sites, wounds, pressure, sores and ulcer, The In vitro-antimicrobial assay recorded the zones of inhibition of bacterial and fungal growths. Extracts with inhibition zones greater than (>10mm), were considered active The (MBC) of the aqueous extract showed considerable inhibition of the micro-organisms at higher doses. While the extract inhibited Escherichia coli and Streptococcus pyogens, at 800 mg/kg, the extracts are active at 1000 mg/kg. From the result of the MIC it was observed that the leaves aqueous extract shows comparable minimum inhibitory concentration on all the micro organisms with growth of Escherichia coli, Streptococcus aureus, Streptococcus Pyogens and Selaginella selaginoides Pseudomonas aeruginosa at 6.25mg/ml while for, Bacillus subtilis, Aspergillus niger, Shigella dysenteriae and Candida albicans showing at 12.5 mg/ml The leaves aqueoues extract shows comparable MBC to Tetracycline and Ciprofloxacin, for organisms with 3.125 mg/ml for Shigella dysenteriae, Bacillus subtilis, 6.25mg/ml for Candida albicans, Aspergillus niger while showing 12.5 mg/ml for Escherichia coli, Staphylococcus, Pseudomonas aeruginosa, Streptococcus pyogens and Selaginella selaginoides. This is being reported in this plant for the first time

Utilisation and expenditure on long-acting insulin analogues among selected middle-income countries with high patient co-payment levels : findings and implications for the future

The number of patients with diabetes and associated complications is rising across countries including patients requiring insulin to control their diabetes. Hypoglycaemia combined generally with poor control adds to the burden of diabetes. Long-acting insulin analogues were developed to reduce hypoglycaemia, including nocturnal hypoglycaemia, and enhance adherence, which can be a problem. These benefits have resulted in increased use among high and high-middle income countries, which is continuing. However, concerns in middle and lower-income countries as insulin analogues are considerably more expensive than standard insulins. Biosimilars can reduce their costs. Consequently, important to ascertain current usage and prices of analogues across middle-income countries with high patient co-payment levels to provide future direction. Overall, limited use of insulin glargine in Kenya up to 3.6% of total insulins in one leasing hospital with prices up to 3.4 fold higher than standard insulins. Overall, limited use of insulin glargine among hospitals in Northern Nigeria and in pharmacies again due to high prices. Appreciably higher use of long-acting insulin analogues in Bangladesh enhanced by low cost biosimilars with increasing competition. Increased competition enhanced by local production can lower biosimilar costs enhancing future use of insulin glargine to the benefit of all diabetes patients requiring insulin

Pharmacognostic and Acute Toxicity Study of Burkea Africana Root

Burkea africana is a plant that belongs to then family Fabaceae; it is widely spread in tropical Africa including Nigeria. It is of valuable in  ethnomedicine especially in the treatment of antidote for venomous stings and bites, cutaneous and sub cutaneous parasitic infection, convulsion and pulmonary troubles. Despite the fact that roots of Burkea africana have several medicinal properties, no standardization parameter has been  assessed. Due to lack of standard parameters, proper identification and ascertaining quality and purity in the events of adulteration has been thwarted. The objective of the study was to establish some important pharmacognostic profile and safety margin of Burkea africana root with the hope of assisting in its standardization for quality, purity and safety. Elemental analysis was carried out using acid digestion method and phytochemical composition of the plants was evaluated using standard method. Acute toxicity was achieved using Lorke method to determine the LD50. Chemomicroscopical evaluation revealed the presence of cellulose, tannins, starch, lignin, calcium oxalate, suberin, aleurone grain and mucilage with the exception of calcium carbonate. The average moisture contents, total ash, acid insoluble, water soluble ash, alcohol extractive value and water extractive values in the powdered plant material were 3.8%, 7.5%, 4.43%, 8.07%, 25.0% and 20.33% respectively. In addition, Fe, Mn, Ni, Pb, Cd and Cu were found to be within the safety limit. Phytochemicals which include alkaloids, flavonoids, saponins, tannins, carbohydrates and triterpenes were detected in both aqueous and methanolic extracts. The LD50 of Burkea africana was found to be greater than 5000 mg /kg and could be considered safe for consumption. Keywords: Elemental analysis, Burkea africana, Pharmacognostic, Phytochemica