Free Cash Flow and Investment Efficiency of Listed Manufacturing Companies in Nigeria

Purpose- This study aims to determine the relationship between free cash flow and investment efficiency of quoted manufacturing companies in Nigeria. Design- An accounting-based model developed by Richardson (2006) was employed to measure investment efficiency and free cash flow. The population of the study consist of all the listed manufacturing companies in Nigeria. Similarly, the purposive sampling technique was employed to arrive at forty-eight companies for 2008-2018. Findings- The results of the study confirm the agency theory of free cash flow. Hence, it established that there is a positive and robust relationship between free cash flow and overinvestment. Practical Implications- the findings of this study has practical implications to various group of users of financial information such as investors, policymakers and other stakeholders in the listed manufacturing sector in Nigeria. The study recommends that policymakers reduce the cost of debt, and likewise, managers should emphasize the facilitation of equity capital. Originality- To the best of the researcher's knowledge, this is the first study to examine the relationship between free cash flow and investment efficiency in Nigeria

Sonographic patterns of retained products of conception among women attending Murtala Muhammed Specialist Hospital Kano, Nigeria

Retain products of conception (RPOC) remains a major concern because its complications are among the leading cause of morbidity and mortality among women with postpartum uterus. Every locality should have a documented findings of postpartum uterus predicting retained products of conception. This study was aimed at evaluating the sonographic pattern of RPOC among women attending Murtala Muhammad Specialist Hospital, Kano. The study was prospective, conducted from January 2021 to August 2021. A total of 200 patients referred on the suspicion of RPOC on the basis of history or clinical examination were enrolled in the study. Transabdominal ultrasound with 3.5MHtz transducer was performed in all referred cases. The findings obtained were recorded on data capture sheet. Data was analyzed using SPSS Version 23.0. Mean age of the patients was 21.7 ±6.7 years and the mean gestational age was 11.7 ±4.8 weeks. Most of the patients present with per vaginal bleeding, lower back pain or fever as their clinical history. Sonographic findings of RPOC were mix-echogenic content 106(53%), hypoechoic fluid collection 52(26%) and hyperechoic mass 42 (21%). The correlation between clinical history and sonographic pattern of RPOC shows a significant weak positive correlation (r= 0.15 and p= 0.03). The correlation between RPOC size and gestational age also shows a significant weak positive correlation (r= 0.27 and p= 0.00). Sonography is an accurate tool for diagnosis of retained products of conception, with mixed echogenic content as the most common sonographic pattern RPOC

Generating Future and Present Values of Annuity using Interest Rate Theory.

In this study, we generated the future and present values of annuity based on the interest rate theory.  This was anchored on the fact that every compound interest problem involves the annual rate and the rate per compounding period.  It was also shown that as the frequency of compounding periods increases, the compound amount behaviour.... More information can be found in the full paper

Effects of Teachers’ Qualifications on Performance in Further Mathematics among Secondary School Students

This study examined the effects of teachers’ qualifications on performance in further mathematics among secondary school students in Kaduna state. By purposive sampling, 12 senior secondary schools were selected from four inspectorate divisions in the state namely Anchau, Kaduna, Kafanchan and Zaria which participated in this study. In the second stage, a random sample of 160 further mathematics students were finally selected across the four divisions. Two instruments: Teacher Self Assessment Test (TSAT) with reliability index of 0.87 and a 30-item four option multiple choice Further Mathematics Achievement Test (FMAT) constructed by the researchers (with cronbach’s alpha of 0.87 and item difficulty of 0.40 < p < 0.82) were administered. Two research questions and one hypothesis were formulated to guide the study. The Analysis of Variance (ANOVA) revealed that significant difference exists between students performance on account of their teachers’ qualifications. Keywords: Performance, Teachers’ - Qualification, Teacher Self Assessment Test,  ANOVA, Reliability Index

An SVM-Based Classification and Stability Analysis of Synthetic Emulsions Co-Stabilized by a Nonionic Surfactant and Laponite Clay

Emulsions are metastable systems typically formed in the presence of surfactant molecules, amphiphilic polymers, or solid particles, as a mixture of two mutually immiscible liquids, one of which is dispersed as very small droplets in the other. These dispersions are unwanted occurrences in some areas, like those formed during crude oil production, but are also put into many other useful applications in the oil and gas industry, food industry, and construction industry, among others. These emulsions form when two immiscible liquids come together in the presence of an emulsifying agent and sufficient agitation strong enough to disperse one of the liquids in the other. Thermodynamically, these emulsions are unstable and thus would separate into their individual phases when left alone. To be stabilized, surface-active agents (surfactants) or solids (that act in so many ways like surfactants) ought to be used. Like many commercially available products, several pharmaceutical products are usually supplied in the form of emulsions that must be stabilized before they are being administered. Pharmaceutical emulsions used for oral administration either as medications themselves or as carriers come in form of stable emulsions. Either water-in-oil (w/o) or oil-in-water (o/w), these emulsions after formulation must be classified, majorly as stable or unstable. Only formulations that give stable emulsions are used, and the unstable ones reformulated or discarded. Classifying such emulsions using results obtained by visual observation in most cases can be very tedious and inaccurate. This necessitates the use of a more scientific and intelligent method of classification. The objective of this study is to employ support vector machine (SVM) as a new technique to classify synthetic emulsions. The study will assess the effects of nonionic surfactant (sodium monooleate) and Laponite clay (LC) on the stability of synthetic emulsions prepared using a response surface methodology (RSM) based on a Box-Behnken design. The stability of the emulsions was measured using batch test and TurbiScan, and the SVM was used to classify the emulsions into stable, moderately stable and unstable emulsions. The study showed that an increase in surfactant concentration in the presence of moderate to high concentrations of LC can provide a stable emulsion. Also, a clear classification of the emulsion samples was provided by the SVM, with high accuracy and reduced misclassifications due to human error. A higher accuracy in classification would reduce the risk of using the wrong formulation for any pharmaceutical product

Bioefficacy of Ethanolic Leaves Extract of Azadirachta indica Against Stored Product Insect Pest, Tribolium castaneum (Herbst.)

Tribolium castaneum is a species of beetle in the family tenebrionidae, the darkling beetle. Conventional insecticides used for controling stored product pests are expensive and arguably associated with various severe adverse side effects hence the need to develop botanical pesticides that are effective as alternative. Though Azadrachta indica has been used for the control of so many insects, review of the literature show no scientifically investigated report of its effectiveness against T. castaneum. This study was therefore designed to evaluate bioinsecticidal activity of ethanolic leaves extract of Azadirachta indica against stored Tribolium castaneum. Different concentrations (60, 70, 80, 90, and 100%) of ethanolic leaves extract of A. indica was applied on the filter paper and were allowed to dry for a reasonable time period. Control was maintained by treating the filter paper with water only. For examining the percent mortality, 15 adults was taken in the Petri dishes embedded with Whitman’s filter paper, covered with lid and tightened with scotch tape on both sides. The A. indica extracts at different concentrations tested showed insecticidal activity against T. castaneum. Further, phytochemical screening results showed that the A. indica extract have phytochemicals associated with insecticidal activity. The study has established that the ethanoloc extract A. indica is effective in managing stored product pest

A Theoretical Perspective on Rural Housing Development and the Problems Associated with Housing Developers in Nigeria: Evidence from Dass Metropolis

Housing is one of the basic needs of any society. It is a component of men’s environmental interactions which is expected to serve important functions, like biological, Psychological, socio-cultural and economic needs of individual facilities and/or communities. Biological, man needs an environment within which he can take shelter and protection against external forces. Psychologically man needs housing so as to satisfy his personal needs such as privacy and self-fulfillment. Socio-culturally, housing is a symbol that reflects the status of an individual family or community. It also reflects the economic value of a society. Therefore, there is a need for a study of rural housing development so as to find solutions on how to improve the rural housing and also the living condition of rural dwellers. The study will be centered on issues related to the development of rural housing in the study are

Effects of Fermented Soya Bean Supplements on Serum Insulin and Leptin Levels of High Fat Diet-induced Type 2 Diabetes Mellitus in Rabbits

Background: Increase in body fat and obesity are the main risk factors for type 2 diabetes mellitus which leads to several complications that affect many organs of the body when poorly controlled. Plant food sources rich in fibre and antioxidants play an important role in the management of diabetes mellitus. This study aimed to evaluate the effects of fermented soya bean supplements on serum insulin and leptin levels of high fat diet-induced type 2 diabetes mellitus in rabbits. Methods: Twenty rabbits of both sexes weighing, 1–2kg were used. Type 2 diabetes was induced by feeding the animals with a high fat diet for eight weeks. Blood glucose levels were determined after the induction period and rabbits having 130 mg/dL and above were selected for the study. The animals were grouped into four groups with five (n=5) rabbits in each group: Group 1 (diabetic control), received distilled water ad libitum for six weeks; Groups 2, 3 and 4 (diabetic rabbits) were fed with 12.5%, 25% and 50% fermented soya bean supplements respectively for a period of six weeks. Fasting blood glucose levels were determined at weekly interval during the treatment period. At the end of the experiment, the rabbits were euthanized by cervical dislocation and blood samples were collected for the determination of insulin, and leptin levels. Data obtained were analysed using ANOVA. Results: The result showed a significant decrease (P≤0.05) in leptin levels (ng/mL) in groups 2, 3 and 4 (11.30 ± 0.20, 9.20 ± 2.06 and 6.40 ± 1.36, respectively) as compared with the control (18.8 ± 1.59). Insulin levels were also decreased in all the treated groups when compared with the control, though not statistically significant, it may be biologically significant. Conclusion: The results of the study show that fermented soya bean supplementation possesses anti-diabetic properties and may help in the control of hyperleptinaemi

Effect of Biopolymer Composition of Natural Fibers on Thermal Properties of Kenaf Core and Oil Palm Hybrid Fiber Reinforced Poly (lactic acid) Bio-composites

This work demonstrates the combination of cellulose-rich oil palm empty fruit bunch fiber (EFBF) and lignin-rich kenaf core fiber (KCF) as hybrid reinforcement in poly (lactic acid) (PLA) matrix for a novel fabrication of hybrid bio-composites. Physicochemical characteristics of EFBF and KCF were determined. Single-fiber bio-composite were fabricated, and the hybrid bio-composite was achieved by manually mixing 55% (wt) EFBF with 5 % (wt) KCF. The mixture was melt-blended with 40 % (wt) PLA, and subjected to compression-molding. Characterizations via dynamic mechanical analysis and thermogravimetric analysis revealed synergistic improvement in the thermal performance of the hybrid bio-composites compared to their single-fiber biocomposite. This implies that hybridization of the cellulose-rich EFBF with lignin-rich KCF is viable approach to achieving novel application of oil palm fiber in bio-composite fabrication and potential applications

A Systematic Review on Sonographic Evaluation of Renal Size in Apparently Healthy Adults

The normal size of a kidney is variable and is affected by both physiologic and pathological conditions. Since renal size is affected by various factors, it is necessary to establish population specific normative values. Ultrasonography has shown its usefulness as an essential tool in the evaluation of renal size. The study aimed at reviewing published articles in the evaluation of renal size and identifying gaps in order to make recommendation for further studies. All articles included in this review are prospective in design with the smallest sample size used being 100 participants and the largest 4,035 participants. The age of the participants ranged from 13 to 80 years. The overall mean renal size reported in this review ranged from 63±18.1 cm3 to 164.3±38 cm3 for the right kidney and 69.1±25.1 cm3 to 183.3±48.9 cm3 for the left kidney. Six of the reviewed articles reported a statistical significant difference between male and female mean renal size (p<0.05), while two articles revealed no statistical significant difference between male and female mean renal sizes (p>0.05). However, the remaining seven articles did not compare the mean renal size between male and female participants. Seven out of the articles reported a significant positive correlation between kidney dimensions and BMI, while other eight articles did not check the association between kidney dimensions and anthropometric parameters. This review showed only one article out of fifteen used a probability sampling method and only two articles used larger sample size. Eight of the reviewed articles did not perform creatinine clearance test before recruitment of their participants