Effect of Deposit Money Banks' Credit on the Performance of Micro, Small and Medium Enterprises in Nigeria

This paper set out to empirically evaluate the effect of deposit money banks' credit on the performance of MSMEs in Nigeria, with the aid of a vector autoregression and error correction mechanism (ECM) technique. Results of the empirical investigation confirmed credit had a positive effect on GDP of MSMEs in Nigeria as the coefficient of CAM (credit to MSMEs) was positive (1.0569) and significant at 1.0 per cent level. It was, therefore, recommended that every effort should be made to improve access to credit by MSMEs, so that they could play their potential roles of employment generation and wealth creation and move the majority of the entrepreneurs out of poverty

SOURCES OF FINANCE FOR MICRO, SMALL AND MEDIUM ENTERPRISES IN NIGERIA

Initial attempts of developed and developing countries to eradicate poverty focused on the development of large scale industries, based on the traditional economy of scale theory. However, the economic downturn that followed the collapse of the world oil market in 1980s and the financial crisis in Asia in the 1990s brought to fore the important role of Micro, Small and Medium Enterprises (MSMEs) in industrial and economic development in any given country. It has been recognized that among the constraints to effective development of MSMEs in Nigeria is the limited access of the investors to long term credit. Various credit initiatives have been instituted in the past to improve the access of MSMEs to long term funds. Analysis carried out in this study showed that commercial banks loans constituted over 90 percent of sources of funds to MSMEs in Nigeria and their loans and advances to agriculture and manufacturing sectors combined(where the MSMEs are dominant) grew from N83.40million in 1970 to N1,129,158.30 million in 2009 and averaged N149,106.08 million per annum thereby constituting 17.81% of total commercial banks loans and advances to the Nigerian economy on the average between 1970 and 2009, whereas the MSMEs currently contribute about 50% to the nation’s Gross Domestic Product. Furthermore, the survey results indicated that MSME operators still do not have enough funds for their operations as a frequency analysis indicated that inadequate fund/working capital was the most mentioned problem with a percentage share of 60.7%. In view of the assured role of MSMEs in economic development and poverty alleviation, it is recommended that all the funding apparatus directed at the MSMEs in Nigeria, be sustained and intensified

Preferences of micro, small and medium scale enterprises to financial products in Nigeria

Micro, small and medium enterprises (MSMEs) are companies whose headcount or turnover falls below certain limits. The definitions change over time and depend, to a large extent, on a country’s level of development. In both developed and developing economies, there are evidences of the immense contributions of MSMEs to economic growth and development. It has been recognized that among the constraints to effective development of MSMEs in Nigeria is the limited access of the investors to long term credit. Consequently, various funding initiatives have been instituted. However, the MSMEs are still complaining of inadequate funds. Hence, this paper set out to determine the preferences of MSMEs to financial products in Nigeria so as to adequately target them. Survey results indicated that 75.7% of the respondents relied mostly on own funds to finance their businesses, the frequency analysis indicated that inadequate fund/working capital was the most mentioned problem with a percentage share of 60.7% followed by the problem of poor power supply/inadequate infrastructure which took 55.7%. It was therefore, not surprising that 86.1% of the respondents would want the Small and Medium Enterprises Equity investment Scheme to continue. However, 64.7% would prefer loan so they can be in full control of their businesses, while only 15.7% preferred equity. It was recommended that credit programmes that will take cognisance of the peculiarities of MSMEs in Nigeria be intensified so as to increase their access to funds in view of their dominance and potential contribution to the economy

Trypanotolerant cattle production in southern Nigeria. Report submitted to the International Livestock Centre for Africa, Ibadan, Nigeria

The importance of trypanotolerant cattle production in the humid and derived savannah areas of southern Nigeria was investigated. A study was carried out in the zone from July through October 1984 on behalf of ILCA. Topical discussions on methodology and history of trypanotolerance cattle in the area; level of cattle production including herd size and distribution, ownership pattern, production systems and sociology; analysis of the economics of trypanotolerant cattle production; and the potential for trypanotolerant cattle production included

Determinants of rural farmers improved soybean adoption decisions in northern Nigeria

The deficient agronomic qualities of the local soybean germplasm and the need to develop varieties with desirable attributes, such as promiscuous nodulation, low pod shattering, sustained seed viability and resistance to bacterial diseases and viruses necessitated the introduction of new varieties to farmers in northern Nigeria. This study investigates the factors that influenced the soybean farmers’ decisions about adoption and use intensity of these improved soybean varieties. A multistage random sampling design was used to select a sample of 307 respondents from a list of soybean growers obtained through households listing conducted by trained enumerators. Data were collected from respondents using a structured questionnaire. The logit and Tobit regression models were used in the analysis for comparison. Empirical results reveal that the farmers’ adoption decisions were significantly (P<0.01) influenced by soybean yield, expenditure on labour, memberships of associations and meeting groups, exposure to extension services and ecology. The two models confirm that increases in each of the identified adoption characteristics will lead to increases in the probability of adoption and use intensity. However, the effect of a one-percent increase in each variable is higher for the Tobit than for the logit adoption elasticities. Moreover, the decomposed elasticity values of the Tobit model reveal that a one percentage increase in the variables would result in a higher change in the elasticity of use intensity than in the elasticity of adoption of the improved soybeans. The results have significant implications for research scientists, extension agents and policy-makers. Apart from providing justification for strengthening the extension capacities of the national research systems, the findings underscore the relevance of networks that promote farmer-to-farmer interactions in the circulation of new technologies

PAEDIATRIC INTUSSUSCEPTION IN CALABAR, NIGERIA

Objectives: To determine prevalence, clinical presentation, evaluate management methodsand outcome of paediatric intussusception in Calabar.Design: A retrospective study.Setting: University of Calabar Teaching Hospital, Calabar, Nigeria.l'articipants: All cases of intussusception in children that presented at the children emergencyRoom and Surgical Outpatient Department of the University of Calabar Teaching Hospitalbetween 1989 and December 1998.Results: The mean age was 7.5 months with a male: female ratio of 1.8: 1. The main presentingsymptoms were vomiting in 76 (85.3%) patients, general irritability in 69 (77.5 %) patients,bleeding per rectum in 47 (52.8%) patients and palpable abdominal mass in 38 cases(42.6%). Majority of the patients presented late to hospital beyond 36 hours since onset ofillness and had had enema administration before presentation, a popular phenomenon in theregion. Diagnosis of this condition was confirmed clinically in fifty nine patients (66%).Eighty one patients (91 %) had laparotomy, the only method of treatment available withsimple manual reduction while in eight patients (9%) laparotomy was accompanied withresection and anastomosis for bowel with doubtful viability.Conclusion: Time lapse from onset to presentation is not a criterion for choosing betweenoperative and non-operative reduction. The clinical status and abdominal evaluation of thepatients are the important features to consider. Operative reduction in most instancesinvolve manual reduction hence should be preceded by conservative methods of reduction

Assessing farm-level limitations and potentials for organic agriculture by agro-ecological zones and development domains in Northern Nigeria of West Africa

Farm-level use of organic fertilizer could be influenced by development domains that comprise human population density and markets access. Analysis of 320 farm households from 16 geo-referenced villages provided the basis for assessing farm-level limitations and potentials for organic agriculture by agro-ecological zones and development domains in northern Nigeria of West Africa. The analysis was based on four identified development domains. The development domains were clusters of population and market access which are: low population density, low market access (LPLM); low population density, high market access (LPHM); high population density, low market access (HPLM); and high population density, high market access (HPHM). It was found that cereal-legume based cropping systems accounted for 74 percent of the total share of organic fertilizer used on the farm. The actual and potential use of organic fertilizer revealed that the current levels of organic fertilizer use as share of the minimum requirements for take-off for organic agriculture in Nigeria was low (37 percent) despite its potentials. Based cost effectiveness of livestock ownership, the development domains of HPLM and HPHM in the northern Guinea savanna revealed best potential for take-off of organic agriculture in Nigeria

Effect of Income Diversification Strategies on food Insecurity Status of Farming Households in Africa: Result of Analysis from Nigeria

This study links food insecurity status of farming households in the study area to their income diversification strategies. Data for the study were collected from 400 farming households in Osun State of the southwestern Nigeria. Households were classified into four categories based on how they obtain a living. Descriptive statistics, Cost of Calorie Function (COC) and Analysis of Variance (ANOVA) were used to analyze the data. Income diversification strategies of the households involved – combinations of crop production with livestock enterprises; crop production with off farm activities; off farm activities with livestock enterprises and crop production only; at 60.0%, 10.0%, 8.0%, and 22.0% of households respectively. Income diversification strategies have significant influence on food insecurity at x2<0.001. Households that depend more on off farm income ranked the best, having the highest surplus index of 0.71 and the least shortfall index of 0.21 which indicate that the food secure households exceed the calorie requirement by 71% while the food insecure households fell short of the recommended calorie intake by 21%. The head count ratio shows that 82% of individuals in this group are food secure while 18% are food insecure. Households that rely solely on crop production ranked the least. A shortfall index of 0.41 and a surplus index of 0.62 indicate that food insecure households in this group fell short of the recommended calorie intake by 41% while food secure households exceed the calorie requirement by 62%. Head count ratio reveals that 79% of the individuals are food secure while 21% are food insecure. Results have shown that food insecurity among farming households in the study area was influenced by Income diversification strategies