An Empirical Investigation of the Liquidity-Profitability Relationship in Nigerian Commercial Banks

The study critically assessed the relationship between liquidity and profitability of Nigerian commercial banks. Purposive sampling method was used to select First Bank Nigeria Plc as the case study being the oldest and the biggest among the 24 commercial banks currently operating in Nigeria. Secondary data collated from First Bank’s annual reports of ten years (2002-2011) were used for the study. The regression analysis of ordinary least square was employed to analyse the data. Student’s t-test was also used to test the relevant hypothesis.Findings show that there is a very high correlation between liquidity of banks and their profitability. The result further shows that liquidity is a determining variable when it comes to banks profitability. To this end, it was therefore recommended that the monetary authority should create a conducive environment that can boost banks’ liquidity which will eventually transform to loanable funds and profit. Also, the Nigerian commercial banks are advised to put in place efficient liquid management to forestall insolvency and bankruptcy. Keywords: Profitability, Liquidity, Insolvenc

Functionalized multiwall carbon nanotubes for electronic and magnetic applications

In this work, SiO2, MWCNTs, MWCNTs:SiO2, MWCNTs-TiO2, and MWCNTs:TiO2:SiO2 nanomaterials were synthesized and characterized by the use of different techniques to ascertain novelty of the nanomaterials and also to establish their suitability for several electrical, electronic and magnetic based device applications. The results, in general, indicate that the nanocomposites were well prepared and the properties of MWCNTs can be tuned by introducing SiO2, TiO2, and a composite of SiO2 and TiO2 in its matrix. This tunability of properties leading to the suitability of the material for various applications has been explained in this work.Physic

A Comparative Analysis of Three Optimisation Approaches to Free Swell Characterisation of Particulate Coconut Shell Reinforcement Composite Material

There is paucity of data relating to the free swell properties of composite reinforcement materials in outdoor applications despite their undesirable tendency to absorb water. In this paper, a comparative performance analysis of three optimisation models - Taguchi method, simplex algorithm and Taguchi-simplex method - is pursued. We used experimental data of 0.600 mm particulate coconut shell with L27 (311) orthogonal arrays of the Taguchi method. For the Taguchi-simplex method, S/N ratios were used as the objective function that the simplex algorithm optimised. Parameters include initial and final volumes of coconut shell particulates (CSPs), mass of water, volumes of CSP and water as well as mass of CSP. The optimised Taguchi method yielded initial and final volumes of 10 and 34 cm3, respectively while it gave the optimal mass of water as 141.54 g. Also, 152 cm3 was the optimal volume of CSP and water while the mass of CSP was optimised to 12.07 g with the use of Taguchi method. However, the use of simplex method retained the initial values of 20 cm3, 34 cm3, 146.81 g, 153 cm3 and 12.07 g as optimal values for the initial and final volumes, mass of water, volume of CSP and water as well as mass of CSP, respectively. The use of Taguchi-simplex method yielded optimal initial and final volumes of 16.6 and 24.82 cm3, respectively. Also, the mass of water was optimal at 92.49 g while the volume of CSP and water was optimal at 107.1 cm3. Lastly, the optimal value for the mass of CSP was obtained at 6.28 g. Confirmatory test validated the results. In conclusion, the optimum parametric setting of the Taguchi-simplex method was the best

Enhancing the Performance of Agro-Based SMES:The Role of Entrepreneurship Competencies

The role of entrepreneurial competencies in enhancing the performance of SMEs, especially in the agro-based industry of developing economies such as Nigeria has not been discussed extensively in extant literature. Therefore, this research is focused on examining the role of entrepreneurial competencies in enhancing the performance of agro-based SMEs. The study used 232 copies of questionnaires that were administered to agro-based business owners and managers in Lagos State as the data gathered instrument. Data analysis was carried out using regression analysis to show relationships between the variables. At different levels, the findings revealed that entrepreneurial competencies relates with the firms’ profitability, customer base, organisational effectiveness, and sales growth. Therefore, the study recommended that entrepreneurial firms should consciously develop the ability of being sensitive to the environment and the ability to recognize opportunities in the market place

Allelophatic effect of prosopis africana (guill and per) taub pod powder on the germination indices of three varieties of abelmoschus esculentus (l.) Moench

The release of certain chemicals by plants has been found to significantly affect different facets of other plant life cycles, from germination through to reproduction. The study was carried out to investigate the allelopathic effect of Prosopis Africana pod powder on the germination, growth and yield attributes of three varieties of Abelmoschus esculentum. Germination indices such as germination percentage, germination rate and germination index were evaluated. Growth parameters namely; number of leaves, plant height, stem girth and leaf area were also assessed. The data collected were subjected to analysis of variance using Statistical Package for Social Science (SPSS) 16.0 version. Duncan Multiple Range Test was used to separate mean differences (P<0.05). Results revealed that the highest germination percentage, index and rate values were recorded for variety Yellen (100%, 3.447 and 0.5), respectively when treated with Prosopis Africana pod powder extract. Highest germination index values were recorded in okra varieties Yellen, Clemson spineless and NHAe when treated with 40, 60 and 40 g of the pod extract (3.447, 3.057 and 3.39) respectively. Least germination percentage, and germination index recorded in okra variety Clemson spineless and NHAe (7.22% and 0.39) respectively. Administration of 80 and 100 g of the Prosopis Africana pod powder extract resulted in a detrimental effect on the three okra varieties, thus concluded allelopathic at these concentrations

Enhancing the Performance of Agro-Based SMES: The Role of Entrepreneurship Competencies

The role of entrepreneurial competencies in enhancing the performance of SMEs, especially in the agro-based industry of developing economies such as Nigeria has not been discussed extensively in extant literature. Therefore, this research is focused on examining the role of entrepreneurial competencies in enhancing the performance of agro-based SMEs. The study used 232 copies of questionnaires that were administered to agro-based business owners and managers in Lagos State as the data gathered instrument. Data analysis was carried out using regression analysis to show relationships between the variables. At different levels, the findings revealed that entrepreneurial competencies relates with the firms’ profitability, customer base, organisational effectiveness, and sales growth. Therefore, the study recommended that entrepreneurial firms should consciously develop the ability of being sensitive to the environment and the ability to recognize opportunities in the market place

Evaluation and storage studies of sausage roll produced from wheat-tigernut flour blends

This study was carried out to investigate the effects of wheat flour substitution with tigernut flour. Brown variety of tigernut was sorted and dried in a cabinet dryer at 60°C for 72hrs and was processed into flour and blended with wheat flour at different ratios of 100:0; 90:10; 80:20; 70:30; 60:40; 50:50, 40:60, 30:70, 20:80, 10:90 respectively. The flour blends were analyzed for proximate composition, functional properties, pasting properties and rheological properties (viscosity). Data obtained were subjected to analysis of variance and significant means were separated using Duncan multiple range test. Moisture, crude protein, crude fibre, total ash, crude fat and carbohydrate ranged from 4.11 to 10.35%, 4.72 to 12.28%, 2.82 to 9.81%, 0,51 to 0.78%, 0.84 to 15.61% and 50.26 to 73.25% respectively. Significant differences exist in the functional, pasting properties and viscosity of wheat and tigernut flour blends. As the substitution of tigernut flour increases, the hardness, crust and crumb moisture of the sausage increases during storage. The result of this study shows that tigernut has the advantage of improving the crude fat, total ash and crude fibre of the blends. Substitution of tigernut flour to wheat flour had a significant effect on all the functional properties of the flour blends. The pasting properties of wheat and tigernut flour blends were affected thereby leading to decreases in the peak, trough, breakdown, final viscosity, setback and peak time. The viscosity of wheat and tigernut flour blends is relatively too high and this suggests that the flour blends will be useful in production of baked products

Functional and pasting properties of wheat/tigernut pomace flour blends and sensory attributes of wheat/tigernut pomace flour meat pie

This study investigated the functional and pasting properties of wheat and tigernut pomace flour blends, as well as the sensory attributes of the meat pie obtained from the composite flour. Tigernut pomace flour was substituted for wheat flour in the amount of 2 – 10%. Unsubstituted wheat flour served as the control. The composite blends were analysed for functional and pasting properties. The sensory attributes of the meat pie obtained from the composite flour were also determined. Bulk density, water absorption capacity, swelling power, and the solubility index of the blends ranged from 0.70 - 0.75 g/mL, 0.62 - 0.96%, 4.06 - 4.47 g/g, and 2.45 - 13.7% respectively. Peak, trough, breakdown, final, and setback viscosities, peak time, and pasting temperature ranged from 113.6 - 135.9 RVU, 76.7 - 90.2 RVU, 36.0 - 45.8 RVU, 170 - 183.7 RVU, 91.0 - 93.6 RVU, 5.07 - 6.03 min, and 88.4 -90.0 RVU respectively. In terms of appearance, the meat pie samples prepared from tigernut-substituted flour blends did not show significant difference (p < 0.05) from the control sample. The control sample had the highest overall acceptability, although samples from the composite blends were also found to be acceptable. Hence, tigernut pomace flour could be substituted for wheat at the amount of 10% to produce an acceptable meat pie

Tax Incentives and Liquidity Performance of Quoted Industrial Goods’ Firms in Nigeria

This study examined the effect of tax incentives on liquidity performance of quoted manufacturing firms in Nigeria Exchange Group. Expo-facto research design was adopted in the study. The population of the study comprised of 18 industrial goods firms listed in Nigeria Exchange Group from 2012 to 2021. The sample size of 10 firms was selected using purposive sampling technique. Data was obtained from secondary sources through the published financial statements of the companies. Data were analyzed through descriptive and inferential statistics. The result from the analysis of data revealed that tax savings had a significant and positive effect on liquidity performance of companies. The findings also from the study revealed that tax holyday has a negative and insignificant effect on companies’ liquidity performance. The study concluded that liquidity performance of quoted manufacturing firms improves at the instant of tax savings. It was therefore recommended that Nigerian government should provide adequate tax incentives for manufacturers in Nigeria in order to achieve the growth of infant manufacturing industries. Keywords:Tax savings, Tax holidays, Quick Ratio, liquidity Performance JEL Codes: H25, L25 DOI: 10.7176/EJBM/14-23-02 Publication date: December 31st 2022

Experimental Investigation of the Electrical Resistivity of Cement Dust

Electrical resistivity is one of the important particle–based factors influencing the performance of an Electrostatic Precipitator (ESP), a particulate control device commonly employed in most cement industries in Nigeria. Therefore, this study investigated the electrical resistivity of Cement Kiln Dust (CKD) across nine locally-operated cement manufacturing plants in Nigeria with the aim of tracing causes of performance problems associated with the ESP used for dust control in the plants. Samples of CKD were collected from the ESPs of these plants and tested for their resistance using the two probe method. The measured electrical resistivities were in the range of 108 – 1011 Ω·cm and showed strong dependence on temperature and slight variation with particle size. The CKD’s resistivity increases as temperature rises from ambient to about 250℃ and declines as temperature rises above 300℃; Nevertheless, the resistivities are adaptable for efficient ESP performance in the collection of cement dust