Lack of Infrastructure as a Challenge to the Actualization of Vision 2020 in Nigeria

The study highlighted the importance of required infrastructures such as energy as a panacea to the realization of the objectives and goals of Vision 2020 in Nigeria. With the dearth of infrastructures, the move towards stability and consolidation in the polity may not be feasible. In the light of these, the importance of vision 20:2020 as a catalyst to the industrial development of the country and the placement of the nation in a central location within the comity of nations becomes imperative. It is in this instance that the millennium development goals (mdg) become realizable and of relevance in the achievement of the macro- economic objectives of government. Consequently ,the need to be well positioned in the provision of social amenities for the benefit of the citizens becomes a - must do for managers at all levels of governance and this determines to a reasonable extent the way forward for economic and technological breakthrough of the less developed economies such as Nigeri

The Impact of Liberalized Financial System on Savings, Investment and Growth in Nigeria

For the past twenty years, an enhanced financial sectoral deregulation has been a major economic tool in the agenda of most less developed economies and Nigeria is no exception. The discouraging level of growth with reference to the savings and investment culture of the people and government involvement in these economies has call to question whether financial sector liberalization have an impact on savings and investment in the economy and by extension on the level of growth and development of such economies. This study attempted to take a cursory look at the issue by examining the impact of financial system liberalization on savings and investment and by extension growth and development in Nigeria between 1997 and 2008. Some of the policy recommendations centred on the government creating an enabling environment for private investment to thrive. This will go a long way in helping to promote private investment with significant benefits in the long run for growth and development to the advantage of the citizenry and the economy at larg

Nigerian Stock Exchange and Economic Development

The need to critically analyze the efficiency of capital market on the Nigerian economy for the period between 1979 and 2008 as a reference point for developing economies is the bedrock of this work. The results indicate that the stock market indeed contributes to economic growth as all variables conformed to expectation. The Nigerian Stock Exchange has not been having the best of times as an aftermath of the global financial crisis after an unprecedented surge in returns on investment which has resulted in a continuous downturn in market capitalization. Multiple regression method of econometric analysis was used for the work. The major findings revealed a negative relationship between the market capitalization and the Gross Domestic Product as well as a negative relationship between the turnover ratio and the Gross Domestic Product while a positive relationship was observed between the all-share index and the Gross Domestic Product. These findings led to some policy formulations aimed at an improved and developed market for potential gain to the benefit of rational investors even across national borders

ACCOUNTING REGULATORY FRAMEWORKS AND PUBLIC INSTITUTIONS’ COMPLIANCE IN NIGERIA

This paper is an attempt to investigate the rate of compliance of public institutions with the framework stipulations of accounting regulations in Nigeria. Series of accounting Regulatory Provisions guiding preparation and presentation of financial reports in public institutions were examined. Descriptive statistical methods - Simple Percentage Method (SPM) and Chi-square were used on 50 Respondents from Ministry of Finance and the Office of Accountant General of the State of Osun in Nigeria. The paper revealed that there is a positive relationship between regulatory framework and financial reports preparation and presentations in Osun State. The study recommends that Proper trainings on public sector accounting and establishments of performance evaluation of employees should be put in place in order to make public institutions account more effective in the State of Osun

Returns on Investment of Deposit Money Banks (DMBs) in Nigeria

This paper provides an in-depth study on the history and evolution of Commercial Bank characteristic factors and other Macroeconomic variables on the financial industry performance indices in Nigeria from 1977 to 2010. The work employed a 3-stage procedure in the assessment of Commercial Bank characteristic factors and other Macroeconomic variables on Total Credit, Investment, and Commercial Bank Lending and Deposit Rate. The essence is to assess the impact of environmental factors on efficiency of commercial banks in Nigeria within the period of study. While investigating relationships between bank efficiency and bank specific factors such as lending rate, deposit rate, Liquidity, Cash Reserve, and Inflation and also the impact of bank efficiency on those bank level factors as well as financial deepening. The study using econometrics approach revealed that apart from credit risk, Lending, Deposit rates, and Investments are associated with large bank size as evident in the network of branches. The results indicated that Returns and Profitability of Commercial Banks are significantly affected by Macroeconomic variables and other characteristic factors. As such macroeconomic policies are likely to promote low inflation while stable output growth may boost credit expansion to the benefit of the Nigerian economy

Management Accountants’ Functions and Control System in Informal Sector’s Business Decisions in Nigeria

This paper examined the effects of Ownership-Controls and Management Accountant(s) functions indecision making process of informal businesses (SMEs) in Osun State of Nigeria. Disparity cases that areoften experienced by Management Accountants on decisions and that of business Owners in informalbusiness sectors – One-man businesses, partnership businesses and other private companies necessitate thisstudy. Many Accountants in the informal business sectors are suffering from a lot of hardships through self - designed decisions usually imposed by business Owners at the expense of information generated throughcalculated parameters on business decisions. The study used both Simple Percentage Method andDescriptive Data Analysis Method (DDAM) to evaluate 10 informal businesses in Osogbo, the capital city ofOsun State of Nigeria. The study revealed that most informal Businesses failed due to the fact that Ownersare always ignoring the advice of Management Accountants in vital business decisions. The paperrecommends proper utilization of MCS principles in line with information supplied by ManagementAccountants in both formal and informal sectors of Nigeria economy so as to aid the function and servicedeliverance potentials and subsequent improvement in SMEs results in Nigeri

Empirical Modelling of the Impact of Financial Innovation on the Demand for Money in Nigeria

Financial innovation refers both to technological advances which facilitate access to information, trading and means of payment. The demand for money is very crucial in the conduct and determination of the effectiveness of monetary policy. This study attempts to analyse whether financial innovations that occurred in Nigeria after the Structural Adjustment Programme of 1986 has affected the demand for money in Nigeria using the Engle and Granger Two-Step Cointegration technique. Though the study revealed that demand for money conforms to the theory that income is positively related to the demand for cash balances and interest rate has an inverse relationship with the demand for real cash balances, it was also di scovered that the financial innovations introduced into the financial system have not significantly affected the demand for money in Nigeria. Based on the results obtained, a policy of attracting more patticipants (non-government) and private sector funds to the money market is necessary as this will deepen the market and make the market more dynamic and amenable to monetary policy. Therefore, the study concludes that financial innovation has had no significant impact on the demand for money in Nigeria and the SAP era financial liberalization policies have had no indirect impact on the demand for money as well

EFFECT OF STOCK MARKET REGULATIONS AND REFORMS ON INVESTORS’WEALTH IN NIGERIA

This paper examines the impact of stock market regulations and reforms on frequent wealth–loss often experienced by investors in Nigeria Stock Exchange Markets right from March, 2008 in Nigeria. Secondary data on two selected banks-listed on the Nigeria Stock exchange market in Nigeria before April, 2003 using random selection method, viz: First Bank of Nigeria and Union Bank of Nigeria. The data collected were analyzed using descriptive statistical method of time series and Simple Percentage Method (SPM). The study revealed that share values are attractive and considerably stable in term of return to investment of shareholders during the preshare crisis period due to the effectiveness of the enabling stock market regulations than in the post share crisis period when value of shares went into spiralling declension. Stock market regulations and reforms is now under serious challenges as the percentage of indigenous investors has reduced drastically from 19% to less than 14% in the Nigeria Stock Exchange markets. Thus the study recommends more proactive regulations and reforms, potent enough to bring back confidence to investors in this post share crisis periods in Nigeria

Towards mapping Ecological Organic Agriculture (EOA) research into use in Nigeria

Africa as the second largest continent after Asia is still struggling to feed her teaming population (1.1 billion; 15 percent of world’s total population). Organic agriculture has been identified globally as a potential strategy to solve food and related problems affecting Africans because it integrates sustainability, biodiversity and ecosystem services, while producing affordable, nutritious and safe food. Pillar 1 (Research, Training and Extension) of the Ecological Organic Agriculture (EOA) Initiative is poised to oversee the conduct of relevant demand driven, end user oriented and easily adoptable research projects on EOA that will transform the continent’s agricultural output. Consequently, an activity was carried out in 2016 to document recent researches relevant to EOA in various disciplines, identify the gaps in EOA researches across disciplines and recommend appropriate areas for further research activities to bridge the knowledge gaps in EOA researches. The activity covered 2013, 2014 and 2015 with emphasis on Nigeria. A total of 203 research articles were reviewed across eleven thematic areas/disciplines: Agronomy (Soil science, crop production and management), plant health (plant pathology, nematology, virology, bacteriology etc.), genetics and breeding, molecular genetics, physiology, food quality, extension, socio-economics, policy issues, organic livestock and organic aquaculture. The spread of research efforts revealed as follows: Agronomy (131=65%), Plant health (43= 21%), Food quality (4=1.9%), Extension (10=4%), Socio-economics (3=1.4%), Policy issues (3=1.4%), Organic livestock (5=2.4%) and Organic aquaculture (4=1.9%). No articles were found on genetics and breeding, molecular genetics and physiology. The implication of this spread is discussed in the paper