Employment and International Trade Flows In Nigeria: VECM ANALYSIS

The study attempts to rationalize the impact of international trade flows on employment generation in Nigeria within the framework of the vector error correction model. The study found that the volume of international trade has no significant positive impact on employment generation in Nigeria. Indeed, the recent empirical evidence is that of a significant negative employment effect of total trade volume in Nigeria. This could be as a result of the SAP-induced trade liberalization forced on the country by the IMF and World Bank as a pre-condition for loan procurement and possible debt cancellation. Besides, the employment effect of trade liberalization is insignificant and negative as well in this study. It is therefore imperative for Nigeria to make her export competitive by broadening the horizons of production and reduce her volume of importation in order to make the negative trade balance positive. Key words: Employment, unemployment, VECM, trade theories, Nigeri

Employment And Economic Growth In Nigeria: A Bounds Specification

The paper examines empirically, whether or not employment impact significantly and positively on  GDP growth in Nigeria over the sample period of thirty-eight years. The newly developed bounds testing approach to co-integration was adopted in the study. The results obtained reveal that both the short-run and long-run growth effects of employment in Nigeria are significant and positive. In particular, the results show that for a one-percentage point increase in employment, 0.568 percent real GDP growth rate is induced in the long-run. Having ascertained the significance of employment in positively influencing economic growth in Nigeria, the study thus recommends a set of policies to the Nigerian  government with a view to enhancing employment and fostering economic growth in  Nigeria. Key words: Employment, economic growth, Bounds, co-integration, stylized fact

Capital Flight and the Nigerian Economy

The paper explores empirically the relative effect of capital outflows on the growth rate of GDP in Nigeria. To accomplish this task, three models of GDP growth rate were specified with each model incorporating a different measure of capital flight from Nigeria. The variables in the models were examined for possible co-integration. Research findings shows that capital flight impacts adversely on the growth rate of GDP and such growth rate effect of capital outflow is significant, capital control is insignificant in stimulating GDP growth rate in Nigeria, exchange controls are weak, industrial output is a veritable resource of GDP growth rate in Nigeria, public expenditure has significant positive impact on GDP growth rate in Nigeria and that the growth effects of domestic investment is insignificant in Nigeria. There is therefore the need for effective control of capital outflows. Also, there is an acute need to implement economic policies that can re-invigorate domestic investment and discourage capital flight in order to enhance economic growth in Nigeria. Key Words: Capital flight, balance of payment approach, residual approach, bank deposit approach, Nigeri

Barriers To The Use Of Information And Communication Technologies In Teaching And Learning Business Education

Education is an instrument “per excellence” for national development. Business education is one of the programs run in about 117 universities in Nigeria. It was believed that business education has the capacity to bring about the required development since it is a course of instruction aimed at inculcating in the youth the skills, attitudes and competencies which are necessary to empower them to be gainfully engaged so that they will be useful citizens and contribute to the development of Nigeria and the society. However, there seemed to be gaps between the nation’s educational objectives and their realization. The obvious indicators to this fact are poor skills of graduates who cannot fit into the office of today, unemployment, poverty and underdevelopment of the country. Information and Communication Technologies (ICTs) where properly utilized is capable of making the difference in empowering the students with the needed skills, attitudes and competencies. This study explored the barriers to the use of ICTs in teaching and learning business education. The researcher constructed 15 questionnaire items from research reports relevant to the study. The questionnaire was validated using Cronbach Alpha which yielded a reliability coefficient of 0.78. A total of 256 questionnaire items were administered to 202 business educators and 54 students of business education respectively from Universities offering business education in Nigeria and all of which were completed and retrieved. The Research Question “what are the barriers to the use of ICTs in teaching and learning business education in Nigeria?” was answered using mean rating and standard deviation. The Hypothesis of no significant difference in the mean responses of business educators and business education students from universities regarding barriers to the use of ICTs in teaching and learning business education was tested using student T-test. The study revealed that all the constructs, except one, constituted barriers to the use of ICTs in teaching and learning business education in Nigeria universities. it was concluded that the revealed barriers be tackled by the government, the university authorities, the teachers and the students so that the university environment would be repositioned to play its role of empowering the youth with the skills, attitude and competencies needed for Nigeria’s development

Risawe’s Palace, Ilesa Nigeria: Traditional Yoruba Architecture as Socio-Cultural and Religious Symbols

This paper is a situational report of the present position of Risawe’s Chieftaincy palace; one of the chiefs’ palaces in Ilesa town, Nigeria, an extant building of the 21st century. This paper identifies the paramount place of culture and traditions as the basis of Yoruba architectural plan, design and construction. It examines the importance and functions of the courtyardstyle of traditional Yoruba architecture in socio-cultural and religious context. The significance of the chieftaincy palaces in general is also discussed. The paper therefore, focuses on the ancient Yoruba architectural creativity and functionality. The effects of modernization are also mentioned. Data for the paper were collected through field work, oral interviews and published literature. The paper concludes that traditional architecture should be maintained, preserved and sustained as legacy for the generation to com

The Indigenous Yoruba Pottery: Processes and Products

One thing that is fundamental to all that has ever been or that can be is subject to process. The principle of production in all sectors is attached to process; for instance for rice to have been on the table for the eater, it has gone through planting, harvesting, winnowing, parboiling, drying, packaging which in inclusion is referred to as processing. This paper focuses on the processes and products of indigenous Yoruba pottery, which could not have been without the indigenous processes involved. The paper showcases the efforts of indigenous Yoruba potters in getting pots ready for various uses in African societies and the universe at large. It further observed the various techniques being employed by Yoruba potters such as gathering materials (clay, firewood), preparing, moulding, drying, firing; and types of pots and it uses.  The paper employed the use of primary and secondary data sources; field work was embarked upon to collect data from potters in some pottery towns and villages where pottery is still viable in Yoruba communities of Nigeria.  Findings revealed that the processes of indigenous Yoruba pot making are multifaceted, however the various processes are entrenched in the five major stages that is general to pottery making; which are clay digging, preparation, moulding, drying and firing. Keywords: Indigenous Yoruba pottery, Yoruba potters, Process, Product

Trade Liberalization and Industrial Growth in Nigeria

This study investigated the relation between trade liberalization and industrial growth in Nigeria.  Adopted in the study is the human capital model of endogenous growth with modifications for trade liberalization within the Nigerian context. In the empirical investigation of the aggregate function of industrial output growth in Nigeria, co-integration and error correction estimation approaches were utilized. A unique co-integral relation between industrial production and the explanatory variables in the study  is found. In order to determine the short-run dynamics around the equilibrium relationship, we estimated an error correction model [ECM]. The empirical findings in this study have it that there is a positive and significant correlation between trade liberalization and industrial growth in Nigeria, structural deregulation had positive impact industrial growth in Nigeria, Nigerian industries are labour intensive, industrial production responded negatively and insignificantly to capital formation in Nigeria, industrial growth is cumulative and self-sustaining in Nigeria. The result however does not provide evidence of significance of structural deregulation over the period of short-run analysis. The policy implications are simple. The results of the study suggest the need for government to embark on comprehensive implementation of trade liberalization policies in order to accelerate and sustain industrial growth in Nigeria. However, the implementation of trade liberalization polices should be done with a delay caution. Keywords: trade liberalization, industrial growth, endogenous growth, cointegration, error correctio

Africa’s Immiserization and Declining Development Interventions in a Globalizing World

African countries recorded impressive growth rates in the 1960s and 1970s. However, the global economic crisis of the 1980s dealt a severe anti-developmental blow on African countries. Eventually, African countries embarked on widespread liberalization of their economies following intense pressures from Bretton Wood institutions. This paper explores the notion that globalization have engendered the immiserization (a term used by Karl Marx to indicate increasing misery or depth of poverty) of African countries on the one hand and resulted in a sustained decline in the resources available for development interventions on the other hand. To get out from the underdevelopment quagmire, some specific directions were proffered for the development of African countries and these must of necessity include structural changes that encompass spiritual, economic, social, political, institutional, attitudinal, cultural and ideological transformations. Keywords: Africa, immiserization, development interventions, globalizatio