The Nexus between Exchange Rate Variation and Economic Growth in Nigeria

This research paper is centered on the nexus between exchange rate variation and economic growth in Nigeria with emphasis to the purchasing power of the average Nigerians and the level of international transaction. Exchange rate fluctuations have been of serious concern to the monetary authorities, policy makers and business tycoons of developing countries, Nigeria inclusive because of the relevance of exchange rate in international trade, investment and in determining the level of output growth of a country. Therefore it is vital to examine the degree at which exchange rate fluctuates which had called for a lot of attention in Nigeria. This study examined the Impact of Exchange Rate Fluctuation on the Nigerian Economic Growth using an annual data of forty-three (43) years covering the period (1970-2013). The standard deviation method was employed to capture and estimate the fluctuation inherent in the model as regards the research’s objective. The study employed econometric techniques such as; Multiple Regression Model, Augmented Dickey Fuller (ADF) test, Johansen Co-integration test and the Error Correction Model (ECM). Evidence from this study exhibited that there exists a positive but insignificant impact of exchange rate fluctuation on Nigerian economic growth in both the long run and short run. This result is attributed to the ability of the Nigerian government to effectively regulate some other important macroeconomic variables which can infuriate exchange rate which has thereby helped curtail the effects of exchange rate fluctuation during the study period. This is an indication that monetary authorities might have initiated policies that helped absorb the influence of exchange rate fluctuation on economic growth in Nigeria. Therefore, the government should encourage domes-tic production of goods and services for Naira exchange rate appreciation and generally to promote economic growth in Nigeria- moreover to maintain and sustain exchange rate and economic stability. In the same vein, the government should pay more attention to other more volatile macroeconomic variables like oil price and inflation rate in Nigeria. Research paper Reference to this paper should be made as follows: Amassoma, D. (2017). “The Nexus between Ex-change Rate Variation and Economic Growth in Nigeria”, Journal of Entrepreneurship, Business and Economics, Vol. 5, No. 1, pp. 1–40

A Comparative Analysis of E-Readiness Assessment in Nigerian Private Universities and Its Impact on Educational Development

This paper presents a study conducted to investigate the impact of e-readiness on educational development among undergraduate students of the selected private universities in Nigeria using a comparative analysis. The Universities surveyed includes: JABU, LCU, ACU and OUI. The study employed both descriptive and parametric statistical analysis through the use of cross tabulation, bivariate analysis and chi square respectively to establish the above relationship. It also used Cronbach’s alpha coefficient to test for validity and reliability of the instrument employed. The results revealed that not all the undergraduates had easy access to computer and internet facilities. This is as a result of infrastructural deficiencies prevalence in the universities under consideration and as such depicts a negative impact on educational development among the undergraduates surveyed and Nigerian higher institution students at large. The result also showed that gender has a significant positive effect (r = 0.352; p< 0.001) on accessibility to internet. From the foregoing the study recommends that there is need for gender balance which can be achieved by gender sensitivity strategies so as to promote pedagogical use of internet. The study further recommends that stake holders like; government, proprietors, and non-governmental organizations(NGO) should invest more on the provision of infrastructural facilities and capacities in order to create opportunity for educational development and enhance the e-readiness of the private universities at large for sustainable development in Nigeria.  Keywords: Post-secondary education, Country–specific developments, Gender  studies, Pedagogical issues; Evaluation methodologie

A Reappraisal of the Nexus between Investment in Human Capital Development and Economic Growth in Nigeria

The role of human capital development on economic growth cannot be over – emphasized in Nigeria. This is because in the past three decades there had been conflicting opinion of researchers, policy makers and academics concerning the role investment in human capital development play on economic growth of a country. Hence, the reason why this paper is conducted to reappraise the nexus between investment in Human capital development and economic growth in order to ascertain if truly investment in human capital can induce economic growth of Nigeria or not with data spanning between 1970 – 2012 using a Two Stage Least Square and Pairwise Granger Causality methodologies. The variables used in the study were tested for stationarity using the Augmented Dickey Fuller (ADF) and Philip Perron (PP) test. The result of the test showed that the variables were stationary at first differencing. The co-integration test was also performed and the result revealed the absence of co-integration between Investment in human capital and economic growth. Furthermore, it was discovered from the results of the TSLS that there exist a positive and statistical significant relationship between PERCAPITA and some explanatory variables (like; HUMANCAP, PUBLIC, and EXCHR) in the first estimated equation. The result also shows that LABFORCE exhibited a negative but significant effect on the level of PERCAPITA income in Nigeria. Similarly, it was equally discovered from the second estimated equation that public expenditure has a positive and significant relationship with investment in human capital. This means that the amount the government spends on human capital development in form enrollment and making schools to be easily accessible to pupils and students has the tendency to foster economic growth in Nigeria. Therefore, the study recommends the need to increase budgetary allocation to the education and health sector and the establishment of sound and well-functioning vocational institute needed to bring about the needed growth in human capital that can stimulate economic growth. In this regard, policy-makers in conjunction with employers and individuals needs up to date information on the real labour market value of different qualifications, in order to help them navigate through the increasingly complex education system and make the strate-gic kinds of educational investment decisions needed to propel economic growth due to issues associ-ated to labour mismatch. Research paper Reference to this paper should be made as follows: Amassoma. D., Ikechukwu, E. (2016). “A Reap-praisal of the Nexus between Investment in Human Capital Development and Economic Growth in Nigeria”, Journal of Entrepreneurship, Business and Economics, Vol. 4, No. 2, pp. 59–93

Re-Appraisal of the Validity of Long-Run Money Neutrality: An Evidence from Nigeria

The study re-appraised the validity of long-run money neutrality in Nigeria. The reason for this owes from the dilemma faced by monetary authorities via their inabilities to utilize an effective monetary policy that can drive and actualize her key macroeconomic objectives in a sustainable manner. The study employed Johannsen co-integration test and Vector error correction mechanism approach to re-validate the tenacity of money neutrality in Nigeria, both in the long and short-run using annual time series data from 1981 to 2018. The results from the Phillips curve model refutes the validity of long-run money neutrality while that of Fishers effect relation exerted partial long-run money neutrality in Nigeria. Hence, revealing that Fishers effect is more effective in validating money neutrality in Nigeria comparatively. Similarly, the Normalized co-integration test and the VECM estimate, supported that of the above. Also, the error correction model (ECM) suggest that, for money to be wholly neutral in the long-run, it will take one year and nine months. Consequently, the study concludes that the old debate of money neutrality is not entirely practicable in Nigeria due to the existence of nominal rigidity and partial violation of the classical and monetarist dichotomies of monetary aggregates. Based on the above conclusion, the study recommends that the government should adopt sound policy coordination to achieve an overall macroeconomic objective in the long-run. Furthermore, the CBN should put all measures in place to suppress the uncomplimentary time lag between the time they spot the need for changes in monetary policy and the time to take action, to enhance a successful result of fine-tuning monetary policy instruments.&nbsp

The Impact of Unemployment Rate on Productivity Growth in Nigeria: An Error Correction Modeling Approach

This paper examined the relationship between unemployment rate and productivity growth in Nigeria for the period 1986 to 2010. The study utilized co-integration and error correction model approach. Although the unit root tests showed that the variables were integrated of different orders, the Johansen co-integration result showed that the variables were co-integrated. The regression estimate based on the short run and long run models showed that unemployment rate has an insignificant influence on productivity growth in Nigeria over the study period. Based on these findings, this study recommended that there is still the need for government to take urgent steps against the rising unemployment rate, because unemployment is a major impediment to social progress and results in waste of trained manpower. Keywords: Unemployment, Error correction modelling, Productivity growt

Capital Inflows and Exchange Rate in Nigeria

This study examined the causal nexus between capital inflows (foreign direct investment and foreign portfolio investment) and exchange rate in Nigeria. It also examined the impact of these capital inflows on exchange rate in Nigeria for the period spanning 1986 to 2011. The study employed both granger causality and error correction modelling techniques. The causality estimates showed no causal link between capital inflows (foreign direct investment and foreign portfolio investment) and exchange rate within this period. The long run regression estimate revealed that foreign direct investment had negative effect on exchange rate while portfolio investment had positive impact on exchange rate. However, the magnitude of the impacts was very minute unlike the international oil price which had a strong negative effect on the exchange rate. The result of the short run result was similar to the causality result, indicating that neither foreign direct investment nor foreign portfolio investment had significant impact on exchange rate. The study concluded that the relationship between capital inflows and exchange rate in Nigeria is a long run phenomenon. DOI: 10.5901/mjss.2014.v5n7p26

CAPITAL INFLOWS, FINANCIAL DEEPENING AND ECONOMIC GROWTH NEXUS: THE MISSING LINK

The purpose of this study was to investigate direct effects of capital inflow, financial deepening on economic growth in Nigeria due to diverse contentions it stirred among researchers from 1981 to 2018 using the Autoregressive Distributive Lag (ARDL) co-integration approach. The findings from the study showed the existence of a long-run relationship between foreign capital inflows and economic growth in Nigeria. Furthermore, the ARDL regression estimate results pointed that foreign direct investment (FDI), foreign aids (FA) and financial development (FD) have a positive and significant impact on economic growth, while on the contrary, remittances exerted a negative and insignificant relationship on economic growth. Also inflation and exchange rate results showcased a negative impact on economic growth. Based on the findings of this study, we conclude that capital in-flows (FDI, & FA)positively impact the Nigerian economy both in the short run and long-run within the study period via sound financial deepening, thus concluding that capital inflows are a potential driver of economic growth in Nigeria. Consequently, the study recommends that the central bank should employ a more restrictive monetary policy to suppress the ad-verse effect that could emanate from inflationary pressure which can distort proper channeling of capital inflows into the country

Components of Government Spending and Economic Growth in Nigeria: An Error Correction Modelling

This paper examined the linkage between the components of government spending and economic growth in Nigeria. In contrast to existing studies, this study examines the relationship between the components of government expenditure (that is, agriculture; education; health and transport and communication) and economic growth with data spanning from 1970 to 2010. The result of the study showed that expenditure on agriculture had a significant influence on economic growth while expenditure on education, health and transport and communication had insignificant influence on economic growth. Based on the findings, this study suggests the need for a reversal in declining budgetary allocation to the educational and health sector in order to provide the sectors with the needed revenue which is necessary in influencing aggregate output of the economy. In addition, this study recommends the need to redirect the excessive expenditures of government on its officials in both the house of senate and house of representative to these pivotal sectors that is capable of stimulating economic growth of the Nigerian economy. In addition, it is highly recommended that the government and relevant stake holders should ensure that funds which are meant for development of the aforementioned sectors should be properly managed. However, the foregoing can be achieved by increasing funds that are meant for anti-corruption in order to enhance economic growth and sustainable development in Nigeria

THE IMPACT OF DEBT-SERVICING BURDEN ON HOUSEHOLD EXPENDITURE IN NIGERIA: A CASE OF EKITI STATE SENATORIAL DISTRICTS

This study employs binary logistic regression technique to explore the impact of household debt-servicing burden on expenditure patterns in South-West geo-political region of Nigeria, using Ekiti State as a case study. Questionnaires were randomly distributed to 2500 households, and the results unveil that households with high income, large family-size and heads within the age group (40 and above) were more susceptible to debtburden. In addition, the paper highlighted that indebtedness compromises the quality of nutrition and health status of household members. Based on the above findings, we conclude that high indebtedness and debt burden trajectories cause deleterious effects on household consumption patterns and overall economic well-being. Thus, household heads should inculcate fiscal discipline which promotes saving culture and averts future shocks that could emanate from precautionary demands. Second, debt providers should regulate loans in cognizance to household repayment capacity and other stipulated policies which break the vicious cycle arising from over-indebtedness, install stability and spur economic development

Towards a Model of E-Learning in Nigerian Higher Institutions: An Evolutionary Software Modelling Approach

This paper presents an ongoing study on the development of an e-learning scheme in a particular higher institution in Nigeria. E-learning is an evolving technology that has become a new paradigm for delivering online and distance learning programmes to users. However, the strength of recent e-learning systems lies in the emergence of Web 2.0 tools which have influenced e-learning systems in terms of pedagogy and delivery. We introduce an evolutionary software modelling in developing an e-learning platform. The paper argues that rather than developing a model with distinct phases and components that make it difficult to respond to changing users requirements, the development should be broken down into increments with required users' priority for later increments. This approach further increase efficiency and flexibility of the development as well as quality and reusability of the results. We conclude that if the scheme is fully integrated, limitations of the traditional system of learning will be eradicated in the institution of our case study and other institutions interested in adopting the scheme. Keywords: E-learning, Evolutionary modelling, Polytechnics education, Web tool