African Scholar Journal of Business Dev. and Management Res. Vol. 29 No. 7


VOL. 29 NO. 7 JUNE, 2023.



African Scholar Publications and Research International,

Centre for African Studies, University of Ibadan, PO Box 10108, Ibadan, Oyo State, Nigeria.


Effect of Entrepreneurial Competencies and Religiousity on the Performance of MSMEs in Adamawa State


Sharafadeen Iyanda Ganiyu; Dr. Nasiru Abdullahi; & Prof. Suleiman A. Karwai

Department of Business Administration, Ahmadu Bello University Business School, Ahmadu Bello University, Zaria, Nigeria.



Understanding the competencies of the entrepreneurs is important to solve lingering problems that affect the performances of the MSMEs especially in the less developed countries and specifically some less performing states in Nigeria. The main objective of this study was to investigate the moderating role of religiousity in the relationship between entrepreneurial competencies and the performance of MSMEs in Adamawa State. Based on the objectives of the study, six hypotheses were formulated for testing. Cross sectional method was used to collect data from 265 respondents who are mainly owners and managers of MSMEs in Adamawa State, Nigeria. Data analysis was carried out using Statistical Package for Social Science (SPSS) and Partial Least Square-Structural Equation Model (PLS-SEM) i.e. PLS3. Given the results obtained from statistical analysis of the moderation relationships, 1 of the 3 null hypotheses was rejected while 2 were supported. Hence, religiousity was found to have significant moderating role between entrepreneurial technical competency and performance of MSMEs in Adamawa State while the moderating role on personal competency and ethical competency were empirically insignificant. Among the major recommendations of the current study is that stakeholders in entrepreneurship development need to invest in capacity building for the MSMEs owners and managers to boost their competencies and performance of their enterprises; and that owners and managers of enterprises should be mindful of their religiousity, as religiousity have significant implication on the delivery of their managerial technical functions. Finally, the study concludes by highlighting some suggestions that open up ways for future research.

Keywords: Competencies, Religiousity, MSMEs, Performance.




The Nexus between Acceptability of Takaful Insurance among SMEs and Insurance Penetration in Nigeria


*Obinna C. Chilekezi; & **Prof. F. M. Epetimehin

*Department of Entrepreneurship, Joseph Ayo Babalola University, Ikeji Arakeji, Osun State, Nigeria [Department of Insurance and Risk Management, Joseph Ayo Babalola University, Ikeji Arakeji, Osun State, Nigeria]. **Department of Insurance and Risk Management, Joseph Ayo Babalola University, Ikeji Arakeji, Osun State, Nigeria



Nigeria’s large Moslem population serves as a motivating factor for growing Takaful Insurance in the country as some Moslems do not buy conventional insurance for their risks and for their businesses. There are many Moslem faithful that own SMEs who do not buy insurance protections for their businesses on the ground that the provision of conventional insurance is not in tandem with the provisions of Shari’ah law. The government in a bid to increase insurance penetration in the country decided to introduce both microinsurance and Takaful insurance in 2016. Part of the National Insurance Commission’s argument for introducing these classes of insurance is to help deepen insurance penetration in Nigeria. The general objectives of this study is to examine the impact of Takaful insurance among small and medium enterprises, and how it can improve the performance of these firms and the specific objective is to investigate the role of Takaful insurance in improving insurance penetration in Nigeria. The Ex-post facto design was used for the investigation. This design assumed the form of an experimental design where an existing case is observed for some time in order to ‘study’ or ‘evaluate’ it. The purposive sampling technique was adopted for the work. The findings indicate that Takaful insurance provides protection against fortuitous losses particularlyfor medium-sized business owners who do not subscribe to conventional insurance policies, and that it has also helped to improve insurance penetration in Nigeria.

Keywords: Acceptability, Penetration, Shari’ah, SMEs, Takaful insurance




Entrepreneurial Financing and Enterprises Performance in Nigeria: Prospects and Challenges


Obot, Emmanuel Nnanna; Dr. S.O.M Awoniyi; & Dr. S.O Onimole

Joseph Ayo Babalola University, Ikeji Arakeji, Osun State, Nigeria.



The world economy is now growing at the lowest rate since the onset of the global financial crisis in 2008-2009, and enterprises of all sizes encounter significant policy uncertainties and regulatory burdens that constrain their business activities in the markets. Despite recent improvements, MSME financing remains fragile in the medium term. The downside risks in the macro-economic outlook may reverse recent gains, and bank deleveraging will continue to impact SME lending disproportionately, especially in countries where the banking system is burdened by high levels of non-performing loans. This study therefore established a relationship between entrepreneurial financing and performance in the North Central region by examining key objectives which included the relationship between entrepreneurial financing and the performance of enterprises in North Central Nigeria, factors militating against entrepreneurial financing on the performance of enterprises in North Central and the prospects of entrepreneurial financing on the performance of enterprises in North Central Nigeria. The study adopted non-probability sampling technique that established a strong relationship between the dependent variables of financing SMEs as critical to their performance. The major recommendation from the study was that funding plans for schemes of major financial institutions should consider prioritizing SMEs’ funding in the country because finance plays a key role in their survivability the same as the macro economy’s performance reflects the micro economic sector of which the SMEs play vital roles, the performance has a net impact on the nation’s GDP and, by implication general development.

Keywords: Entrepreneurial Finance, Performance, MSMEs, Prospects, Challenges.




Impact of Revenue Allocation on Economic Growth in Nigeria


*Bulus Shadrach; **Hyellafiya Caleb; *Fatima Abubakar Gamawa; & ***Sadiq Mohammed Nadada

*Department of General Studies, Federal Polytechnic Kaltungo, Gombe State Nigeria. **Department of General Studies, Federal Polytechnic Kaltungo. ***Department of Business Management, Federal Polytechnic Kaltungo, Gombe State, Nigeria



This study examines the impact of revenue allocation on economic growth in Nigeria; revenue allocation among the three tiers of government in Nigeria has been a subject of burning argument for long period of time and its affect the Gross Domestic Product (GDP) in Nigeria using time series data for the period of 1981 to 2020.  The data for this study were sourced through Central Bank of Nigeria Annual Report (CBN), World Development Indicators (WDI, 2021) and Federation Account Allocation Committee (FAAC, 2020). The work uses the methodology of unit root test (ADF) to test the Stationarity of the data, autoregressive distributed lag (ARDL), short run and long run, Bound test.  The study’s findings shows that revenue allocation for the Federal government have significant impact on Gross Domestic Product (GDP) in Nigeria, the allocation revenue for the State have negative impact on GDP with 0.17%, the lending interest rate (LINR) also have negative impact on GDP in the long run.  All variables of the study are co-integration and have a long run relationship that 86% of the error correction model (ECM) disequilibrium is corrected yearly and revert back to its normal position.  The study recommends among the following; the state and local government be given higher share of the revenue that they are seen as a tool of economic growth in Nigeria.

Keywords: Revenue Allocation, economic Growth, ARDL, and sharing formula




Problems of Managing Internal Generated Revenue in Bida Local Government of Niger State


Ayodele, Oloruntoba Churchill; & Gata, Elizabeth G.

Department of Business Administration and Management, School of Business Administration and Management, the Federal Polytechnic, Bida, Niger State



This research work is concerned with a study on the problem of managing internal generated revenue in local government: a study of Bida local government of Niger State, aims at assessing the relationship between inadequate source of fund and internal generated revenue; corruption and internal generated revenue as well as to investigate the relationship between negligence attitude and internal generated revenue. The method employed in carrying out this study is descriptive survey method which involves collecting data from respondents through questionnaire administration. The researcher administered 115 questionnaires in which 100 were returned while 100 returned as valid questionnaires were used for analysis with the aid of statistical packages for social sciences (SPSS). Results demonstrate that inadequate source of fund have limit the local government council in executing their laudable programmes; also that corruption has contributed to the challenges of internal revenue generation in the local government, finally revealed that negligence attitude and lack of qualified and experienced revenue officers constitute to inefficiency in revenue generation. In conclusion, inadequate source of fund does not have positive effect on local government programmes, corruption does not have a positive impact on internal revenue generation, negligence attitude on the part of revenue officials have adversely affected internal revenue generation in the local government. The study therefore recommended that there should be capacity building in all local governments that involves training, orientation monitoring and evaluation of staff to enhance their knowledge, skills and competencies. Also there should be regular assessments of local government funds in order to regulate the degree of corruption among revenue officials.

Keywords: Local government, Internal generated revenue, Corruption, Negligence attitude, Inadequate of fund




Impact of Board Composition on Financial Performance of Listed Deposit Money Banks in Nigeria


Ali, Mathew Bello & Shadrach Monica

Bursary Department & Accountancy Department, Federal Polytechnic, Mubi – Nigeria, P.M.B., 35



This study assessed the impact of board composition on financial performance of listed deposit money banks in Nigeria for a period of Twelve (12) years from 2010 to 2021. The total population was adopted as sample with the exception of Ecobank because its financial statement is denominated in US Dollar. The data for the study were collected from annual reports and accounts of the companies and were analyzed using descriptive statistics, correlation coefficient and multiple regressions using STATA software version 13.00. The study found board size to have a negative and statistically significant impact while independent directors and female directors were found to have positive and significant impact on the financial performance (ROE) of listed deposit money banks in Nigeria. Thus, the study recommends that the board size should not be too large as it negates good financial performance but it should be reduced to a point to facilitate high-quality and active debates and sufficient enough to provide the skills and expertise required for the board to function well. On the other hand, there is need to increase the independent non-executive directors as well as female directors on the board as it promotes better performance of the banks.

Keywords: Board composition, Financial performance, Board size, Independent directors, Female directors.




Product Innovations on Firm Competitiveness: Development of Small and Medium Enterprises in the Manufacturing Sector in Nigeria


Yakubu Yahaya; & Umar Ayuba Dutse

Department of Business Administration and Management, School of Management Sciences, Abubakar Tatari Ali Polytechnic Bauchi, Bauchi state, Nigeria



This paper examine the effect of product innovation on firm competitiveness. This study is to establish the strong positive correlation between product innovation and firm competitiveness in Nigeria. Also the study adopt a descriptive – explanatory research design with a survey strategy to achieve the research objectives. The research design for this study is descriptive, this allows a researcher to provide insights into the why and how of research. Therefore, this study reveals the product innovation is one of the tools used in attainment of organizational goals and objectives, therefore every organization should as issue of importance, ensure of getting the right product innovation that will manage the organization in order to achieve their set goals.

Keywords: Product Innovations, Firm, Competitiveness, Development, Small and Medium Enterprises.




Capital Market and Industrial Performance Nexus: Empirical Evidence from Nigeria


*Suleiman Oniyangi; **Kanu Nnabugwu Chidiebere; & ***Onyeobia Ezinne G.

*Procurement Department, National Productivity Centre, Headquarters, Abuja. **Productivity Measurement and Index (PMI) Department, National Productivity Centre, Imo State Office. ***Productivity Capacity Building (PCB) Department, National Productivity Centre, Enugu State Office.



This paper examined the causal relationship between the capital market and the performance of the industrial sector in Nigeria from 1985 to 2015. The paper derived its theoretical basis from the finance-led growth hypothesis and the endogenous growth theory. For empirical analysis, the Phillips-Perron unit root was adopted to determine the time series characteristics of the variables, while causality was examined by employing the Granger causality test approach. Findings revealed that there is a unidirectional causality running from market capitalization ratio, total value of shares traded ratio and turnover ratio to industrial performance. The paper recommends improved publicity on the strategic role of the capital market as well as a strong regulatory mechanism for its efficient and smooth operation in order to mobilise long term funds for industrial development in Nigeria.

Keywords: Capital Market, Industrial Performance, Unit Root Test, Industrial Development, Performance, Granger Causality Test and Nigeria.



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