AFRICAN SCHOLAR JOURNAL OF MANAGEMENT SCIENCE AND ENTREPRENEURSHIP (AJMSE)
VOL. 19 NO. 7 DECEMBER, 2020 ISSN: 2276–0732
African Scholar Publications and Research International,
Centre for African Studies,
University of Ibadan, PO Box 10108, U.I. Post Office,
Ibadan, Oyo State, Nigeria – West Africa.
Copyright © 2020 African Scholar Publications and Research International.
An Empirical Study of the Differences between Business Mathematics and Pure Mathematics: Its Effects on Students Academic Performance in Nigeria Universities
E.T. Omoluabi, (Ph.D.)
Department of Business Administration, Faculty of Management and Social Sciences, Federal University, Gashua, Yobe State
The Study of Business Mathematics has been given recognition as an application to help the mind mathematically. It equipped students and practitioners of business with rational ways of thinking and help solve business related problem in their daily business transaction. Hence, the minds of business students or business men and women will ever remain at a stage of dormant unless or otherwise challenged mathematically. Every application of mathematics to business is for decision making. In our daily activities, people hardly can do without being involved in one business transaction or the other. Hence we find ourselves in counting one to one thousand (1-1000) one thousand to ten thousand (1000 – 10000) and so on. The ability of individual to be able to combine numbers to make a meaning is called mathematics. But the one that involve in determining how many bags of beans to be supplied, quality, quantity, price, cash payment are all subject of business mathematics. This paper used descriptive research approach to discuss most of the relevant topics in business mathematics. Conclusion: The study concludes that pure mathematics is designed for students who major in sciences and not management science as the case may be, that pure mathematics is more of abstract while business mathematics is an applied mathematics that address life situation in solving business related problem. Also examine in the paper is the necessary topics that is expected to be in the business mathematics such as calculation of production costs, price determination, asset management, profit management, Recommendation: The paper recommended that Nigerian Universities regulatory body (UNC) should see how to review business mathematics curriculum to help business students like mathematics as it applicable for business purposes. That the relevant topics that address business mathematics should be selected and discuss forming the new curriculum for business students in Nigerian Universities.
Keywords: Differences, Business, Mathematics, Pure mathematics, Performance.
Refocusing on Guidance and Counselling Education for Transformation of Students’ Lives in Secondary Schools: Management Implication
*Love E Ebuk (Ph.D); & **Afu Maria Owan (Ph.D)
*Department of Educational Management, Faculty of Education, University of Abuja, Nigeria **Department of Guidance and Counselling, Faculty of Education, University of Abuja, Nigeria
The study investigated refocusing on guidance and counselling education for the transformation of students in secondary schools: management implication. This study was carried out in junior and senior government secondary schools in Gwagwalada Area Council, Abuja, Nigeria. The population of respondents were 8 principals from the senior government secondary schools and 18 principals from junior secondary schools (Education Management Information system, 2017) with a total of 26 respondents. The population of teachers was 544 from the senior secondary schools ERC (2012) and 657 teachers from the junior secondary schools (Gwagwalada Area Council, FCT school data) have thew total numbers of teachers were 1201. The researchers used 26 principals through purposive sampling technique to respond to research question one. They sampled 536 teachers from 1,201 teachers through random sampling technique to assess the principals on research question two. Questionnaire on “Refocusing on Guidance and Counselling Education for Transformation of Students” (RGCETS) was used for data collection. The instrument was validated by experts in Guidance and Counselling Department and the Department of Educational Management, Faculty of Education, University of Abuja. The researchers applied test-retest method to analyze data to obtain the reliability, thus the reliability coefficient index score was 0.78. Simple frequency was used to collate data and mean statistics was used to analyze data got from the research questions. The findings of the study revealed that management has refocused on guidance and counselling educational services to transform students’ lives in secondary schools in Gwagwalada Area Council, Abuja, Nigeria. It was also revealed from the study findings that management though they refocused on education services guidance and counselling they did not apply techniques to transform student’s lives in secondary schools in Gwagwalada Area Council, Abuja, Nigeria. Due to the findings of the study it was recommended that Federal and State governments should ensure that secondary schools management when refocusing on guidance and counselling education should endeavour to apply guidance and counselling educational techniques to transform students’ lives. Principals, guidance and counsellors and teachers should attend conferences and seminars on how to teach guidance and counselling education and apply counselling techniques and services for students to be transformed.
Keywords: Refocusing, Guidance and Counselling Education, Transformation and Management
Competitive Strategies and Firms’ Performance: A Comparative Analysis of Selected Firms in Telecommunication Industry
Ibrahim Bamidele Hamzat
Department of Business and Entrepreneurship, Faculty of Humanities, Kwara State University, Malete P.M.B 1530, Ilorin
The ever dynamic competitive business environment poses major challenges to the broadcasting sector in Nigeria. Organizations have been struggling to compete favourably and competitive strategies are assumed to be one of the most essential requirements for the survival and growth of business in this unstable and volatile environment. This paper examines the impact of competitive strategy on organizational performance within the broadcasting industry in Ilorin, Kwara State Nigeria. An explanatory research design was used to help identify the causes and reasons of the current status of the variables under study. Targeting 40 employees of the 3 selected firms (Multichoice, Startimes and Mytv) within the industry, a purposive sampling technique and census was used and all the 40 employees were sampled. Data were collected using questionnaire and then analyzed using Regression Analysis. The findings show that firms in the broadcasting industry in Ilorin used the three different competitive strategies and two strategies (Pure and Hybrid) have a significant impact on market-share and hybrid strategy gives a superior performance compared to others. It was concluded that firms that place distinct emphasizes on hybrid strategy can achieve a superior performance than those who do not in the industry. It was recommended that organizations that want to outperformed its competitors and meet its competitive advantage should adopt hybrid strategy.
Keywords: Competitive Strategy, Hybrid Strategy, Pure Strategy, Stuck-in-the-middle Strategy and Firms Performance.
Impact of Government Monetary Policy on the Output of Nigeria Manufacturing Sector
Iliya Bawa, PhD1; Salisu Iyal Ahmed2; & Abdulsalam Yusuf Konga3
1Department of Business Administration, Faculty of Management Sciences, Federal University Lokoja Kogi State – Nigeria 2Department of Business Administration and Management, Federal Polytechnic Nasarawa – Nigeria 3Registry Department, Federal Polytechnic Nasarawa – Nigeria
The growth level of a country is been affected by a lending rate that led to increase in production cost. The current lending rate policy does not give serious attention to manufacturing sectors. The study objective is to assess impact of macroeconomic forces on manufacturing sectors output. Using data for the period of 2013 – 2018 from statistical bulletin of CBN. Using regression analysis on the identified variables. The study revealed that high lending rate prevent manufacturing sector to perform as expected and its led to high production cost which translate to high cost of goods. The study conclude that the action by CBN on market interest rate affect financial asset prices, Promotion of policy transparency in order to reduce inflation was recommended. In addition, the policy on lending rate should be that which could encourage investment in the manufacturing sectors. Investors should be assure of their investment in the manufacturing sector so as to boost their confidence.
Keywords: Monetary policy, manufacturing output, lending rate, inflation rate, financial institution, interest rate.
The Rebranding of Nigeria through Marketing Communication Strategy after Endsars and Covid 19 Lockdown
Ayozie, Daniel Ogechukwu (PhD)
Department of Business Administration, the Federal University, P.M.B 1174, Lokoja, Kogi State Nigeria.
Any decision by the Nigerian government to pursue the comprehensive programme of packaging and rebranding Nigeria most especially after the violent #Endsars protests of October 2020, will come as a welcome development. Branding involves adding values, creating a unique feature, market or identity for a product, service, nature or place, in order to differentiate between it and another, and to stimulate the customers emotional attachments. Unique brands exists in the market and amongst the nations of the earth, e.g. Jerusalem, Mecca, and Washington DC. The mention of few brands leads to some emotional attachment e.g Prado, Hummer, and Pajero jeeps, Glo, MTN, magi, panadol, sharp and national electronics. Panadol pain relieving advert in the past states that “IF IT IS NOT PANADOL, IF FIT NOT BE LIKE PANADOL”. We have God’s own country (The United States of America), the Queens own country (United Kingdom), the Samba nation (Brazil), carnival city Brazil and London, Lagos, Rio de Janerio, Bahamas Island all connoting are positive or negative feature or the other. The focal point of this paper is to evaluate the brand Nigeria, its special features, attributes, challenges and advance solutions on how to Rebrand the nation, which is the largest secured investors destination in Africa. It uses opinion survey, conducted on respondents both online and personally. Simple random sampling was adopted in selecting respondents in the six geographical entities of Nigeria and Abuja. The results shows that respondents tree that Nigeria as a nation requires rebranding especially after the violent #EndSars protests and Covid19 lockdowns. These protests dented Nigeria’s image locally and internationally so rebranding becomes an essential feature. The essence is to create brands that will instill patriotism, loyalty, trust and discipline among Nigerians. The paper identifies the image problems of Nigeria such as armed robbery and banditry, violent crimes, extra judicial killings, romance and advance fee frauds and scams, assassinations, terrorism by Boko Haram, kidnappings, internal insurrection etc. It advocates that through a concerted use of quality, positioning, repositioning, long term approach, being first, well blended communication, Nigeria national brand can be repositioned for greatness and to attract local and international investment, and to instill patriotism amongst the citizenry.
Keywords: Branding, Positioning, Brand, Image, Competition
Corporate Reputation and Business Performance: Evidence from Service Firm in Nigeria
Abdulmalik Taiye Abdulkareem; & Ishola Abdulfatai Idomi
Department of Business and Entrepreneurship, Kwara State University, Nigeria
Corporate reputation has evolved to become a strategic and intangible corporate asset. Its relativity is keenly important to business and politics, and it is essentially related to a business competitive strategy that interpreted an organization’s ethos, goals, and values that create a sense of belonging among the company’s stakeholders. Meanwhile, many service providers such as telecom companies fail to build a strong image and supportive relationship with all of their constituent’s corporate reputation. This has incorporated a negative effect on the performance of telecom companies in Nigeria. As a result of these challenges, improving corporate reputation had become of utmost importance for the service firms. This study investigates the effect of corporate reputation determinants such as corporate image and corporate identity on the business performance in the telecommunication industry in Nigeria. A sample size of 390 respondents was surveyed out of 15,000 population of students from Kwara State University. The study questionnaire was administered to sampled respondents and multiple regression was explored to analyze the data. Descriptive analysis indicates that all determinants of corporate reputation measured were evenly distributed. Therefore, the findings of the study show that corporate reputation has a positive significant effect on business performance. The findings of the study show that one out of two hypotheses tested have a significant effect while the other has no significant effect on business performance. Further results indicate that corporate reputation plays a vital role in business performance in service firms in Nigeria. The study concluded that corporate reputation has a positive significant effect on the business performance of service firms such as telecommunication. It was recommended that service firms should map out some strategies towards quality service and products to create a positive image around their brands and corporate reputation should be given much priority to be able to explore its benefit.
Keyword: Corporate reputation, corporate image, corporate identity, business performance, customer loyalty, service firm.
An Evaluation of Value Added Tax in Nigeria, Prospects and Challenges
Mrs. Mathew Leatu Bala
Department: Office Technology and Management (OTM), Adamawa State Polytechnic, Yola; College of Administrative And Business Studies, CABS, Numan
There is no country that will be self-reliant without generated revenue for the provision of social amenities to its citizens. The paper highlightens the impact of VAT on imported goods into Nigeria, get the objectives of this paper numerical information (data) were collected using the secondary sources of data gathering which include journals, textbooks, information on the net which advices VAT not only in Nigeria but other selected countries worldwide and the analysis was descriptive. In Nigeria VAT is faced with myriads of problems which includes complex tax lairs, inadequate and poor administration led by Nigeria as they think as VAT lack attribute that leads to benefits, inadequate funding of the revenue services, lack of tribunals related to VAT cases and above all the issue of tax avoidance and tax evasion is probably the most challenging issue to the realization of VAT benefits. Then, the 5% VAT in Nigeria has been considered the least in the world. However the paper concludes that for VAT to produce benefits to Nigerians, challenges like those mentioned above must be addressed by enforcing laws that will prevent tax avoidance and tax evasion and total fight of corruption. The 7.5 % VAT presently applied in Nigeria will yield more benefits as discovered during research on this paper.
Keywords: Value Added Tax, avoidance & Evasion, Taxation, and Revenue.
Domestic Debts and the Nigerian Economy (An Empirical Evaluation)
Okologume, Henry Chukwudi; & Okhumaile, Selena Idowu
Department of Banking and Finance, School of Business Studies, Federal Polytechnic, Auchi, Edo State, Nigeria
This paper principally analysed the influence of domestic debt on economic growth of Nigeria. The main objective of the study is to investigate the effects of domestic debts on the Nigerian economy. Data for the study were sourced from CBN statistical bulletin of various issues. To empirically determine the relationship between domestic debt and economic growth, we employed the error correction model procedures following an examination of properties of the time series using unit root and co-integration test. Findings show that interest and inflation rate have a negative effect on the economy since they constitute a cog on the wheel of loanable fund which is used for domestic investment and reduce purchasing power dissuading consumers from purchases, production falls and investment falls. It was therefore recommended among other that Government through its relevant authorities should design favourable monetary policy that would enable domestic debt to made available at affordable rate (this is because low credit or high lending rate will amount to low level of investment which transmit to low output) for massive development of the country..
Keywords: Domestic debt, interest rate, inflation rate and economic growth
Gamification a Teaching Pedegogy: An Effective Ways in Changing Office Technology & Management Students for Job Creation in Nigeria
Bagudu, Ahmad Ibrahim
Department of Office Technology & Management, Federal Polytechnic, Bali, P.M.B 05 Bali.
This paper accessed GAMIFICATION A TEACHING PEDEGOGY: An Effective Ways in Changing Office Technology and Management Students for Job Creation in Nigeria, as it revealed how educational institutions should find effective ways to select contents based on what they intend to teach, leave behind concerns about the past and pay attention, effort and energy on what is coming which may have implications for a wide range of national, and international corporate practice either in industry employee engagement or disengagement. The paper employ popular techniques used across a variety of contexts to motivate students to engage in particular targeted behaviors. Keyboarding is choosing as subject selected for the study in changing Office Technology and Management students for job creation in Nigeria as major example that can benefit from this engaging method. Using some of these helpful suggestions and recommendations, teachers may find it easier than ever before to teach their students to type a little faster.
Keyword: Gamification, Teaching, Pedagogy, Changing and Job creation
The Impact of Business Environmental Factors on Performance of Small Businesses in Bauchi Metropolis
*Ifedoro, Ndubuisi Nicholas; & **Kurah, Joshua T.
*Banking and Finance Department, Federal Polytechnic, Damaturu Yobe State. **Business Management Department, Federal Polytechnic, Damaturu Yobe State.
The research study seeks to examine the impact of external business environment factors on performance of Small Enterprises in Bauchi Metropolis. The aim of the research is to examine the impact of macro-environment factors, industry forces and competitors and market business environment forces on performance of Small scale businesses in Bauchi Metropolis. Related Literatures were reviewed. Data was collected by the use of questionnaires which was analyzed using Statistical Package for Social Sciences (SPSS). The results have proved that there is a positive relationship between macro-environment factors (political, economic, technological and legal factors).Also, the results showed a positive relationship between industry forces (threat of entry, power of buyers, power of suppliers, threat of substitutes and competitive rivalry) on performance. In addition, the research results show that there is a moderate relationship between competitive and market environment factors (strategic group, market segment & strategic customers) on performance. It is therefore recommended that relevant governmental organizations should ensure political stability and continuity in government policies on economic matters that will improve the performance of small businesses and small scale businesses should be customers oriented by adopting consumer relationship practices and offer Incentives in form of loyalty bonuses to its prospective consumers as a way of creating awareness and value of their products in the distinct mind of the customer so they can mitigate threat of substitute and competitive rivalry
Keywords: Environmental, Factors, Impact, Performance and Small Businesses.
The Impact of Product and Pricing Strategy on Selected Small and Medium Enterprises in Kaduna State
Bello Taofik Abidemi (PhD), Bannah Bulus Daniel, Isah Ibrahim, Umar Shehu, & Ali Sirajo
Department of General Studies, Nigerian Institute of Leather and Science Technology Zaria.
The purpose of the study is to explore the effect of pricing and product strategy on performance of Small and medium enterprises in Kaduna State Nigeria. A total of 75 managers were used in data analysis through a survey questionnaire. The study is cross sectional in nature. Smart PLS 3.0 was used in testing the measurement and structural model. The findings revealed that service price and service product is significantly related to small and medium enterprise performance. The findings of the study is important to researchers and policy makers. It will go a long way in assisting producers that will come up with durable and high quality product so as to be competitive and gain competitive edge.
Keywords: product strategy, Price strategy, SME performance. Managers, PLS
The Impact of Public Infrastructure on Industrialization
*Bimba Gana (PPRO); **Moshood Abdulrahim (PPRO); ***Adaeze .U. Ewah (SPRO); & ****Kanu Nnabugwu .C. (SPRO)
*Consultancy and Business Development Department, National Productivity Centre, Headquarters **Consultancy and Business Development (CBD) Department, National Productivity Centre, Headquarters, Abuja ***Corporate Affairs and Information (CAI) Department, National Productivity Centre, Enugu State Office ****Productivity Measurement and Index Department, National Productivity Centre, Owerri State Office
This study attempted to investigate the role of public infrastructure on the industrialization of Nigerian economy for the period 1981 to 2016. The extent to which the public and private sector can develop the infrastructural facilities, such as roads, rail lines, power, sewage, water, and telecommunication, etc., is the extent to which the industrial sector will have the required impetus to become more productive. The study investigated the impact of infrastructure in a VAR environment, after subjecting the data to pre-test for to check the stationarity and co-integration of the variables. The work embarked on variance decomposition to examine the impact of infrastructure on manufacturing sector. The findings revealed that expenditure on infrastructure does not significantly impact the manufacturing output in the short run, but becomes more significant in the long run. The study therefore went ahead to recommend that a deliberate and consistent attempts has to be made to develop the infrastructure of the economy so as to yield the desired manufacturing or industrial output expansion desired.
Keywords: Impact, Public, Infrastructure, Industrialization, Industrial Output and Economy.
The Prospects and Challenges of Using GSM in Nigeria Society
Umar Iya Girei
School of Management Studies, Department of Office Technology& Management, the Federal Polytechnic Damaturu Pmb 1006 Damaturu, Yobe State
This paper Prospects and challenges of using Gsm in Nigeria society, gives an overview of the history of GSM in Nigerian, it is meaning, importance, positive and negative effect of it on Nigeria society. GSM enables Nigerian to have accesses to a variety of different service that were never possible in the past, such as mobile banking services and so on. As more phones and accessory are being sold, it has help to stimulate the Nigeria economy. However, despite the numerous advantages derivable from the application of GSM in Nigeria, it has also imported negatively. Thus, include classroom destruction, poor writing skills to student to mention a few.
Keywords; GSM (Global system mobile for communication), Communication, internet, phone calls, society
Agricultural Productivity and Economic Transformation in Nigeria, 1992-2019
*Bright Onoriode Ohwofasa PhD; **Joseph Ibrahim Adama PhD; & *Michael Ajagono
*Department of Social Sciences (Economics Unit), Delta State Polytechnic, Otefe-Oghara. **Department of Economics, Landmark University, Omu’aran, Kwara State
The last few decades in Nigeria has witnessed the presence of serious transformation deficits that affect agriculture productivity while government policy to address them has been hindered by exchange rate mismanagement and high level corruption. The objective of the study is to assess the impact of agricultural productivity on economic growth in Nigeria. Additionally, labour productivity and capital productivity as measures of agriculture productivity were also used as explanatory variables. The data which were culled from the Central Bank of Nigeria statistical bulletin (2019) covers the periods, 1992-2019. Using cointegration and error correction model, the study finds a long run relationship between agriculture productivity and economic growth. Specifically, the study finds that in the long run economic growth is positive and significantly responsive to changes .in labour productivity (0.16%) contrary to its 0.19% and 0.89% negative response to changes in capital productivity and agriculture value added respectively. However in the short run, economic growth is significantly and positively responsive to changes to its past lag (0.31%), capital productivity (0.04%) and agriculture value added (0.29%) contrarily to its 0.06% negative response to changes in labour productivity. Among other things, the paper recommended that government may consider the provisions of infrastructure such as stable power supply and incentives in the form of interest free loans to farmers, scholarships and bursary to students of higher institutions studying agriculture.
Keywords: economic transformation, economic growth, agricultural productivity, ECM, Nigeria
Investment in Information Technology and Banks’ Performance in Nigeria
*Oyesiji, Yinusa Kolawole; *Sikiru, Isiaka Olawale; **Azeez, Lukman Adedayo
*Banking and Finance Department, the Oke Ogun Polytechnic, Saki **Accountancy Department, the Oke Ogun Polytechnic, Saki
Banks business is competitive in Nature and the banks that want to be at competitive hedge and improve customer confidence in term of customer satisfaction must be dynamic in nature as a result of changing in Technology. This study intends to examine effect of Investment in information technology on banks’ performance in Nigeria. Data were source from annual financial report of selected banks from 2012-2019. Panel random effect regression model was employed to analyse the data and the result revealed that Automated teller machine (ATM) had positive significant effect on bank’s performance at 10% significant level with p. value of 0.0212, this implied that a unit increase in ATM increase performance by 8.2%. Branch had Negative insignificant effect on bank’s performance. Investment on information technology (IT) had negative significant effect on banks’ performance at 10% significant level with p. value of 0.0283; indicate that a unit increase in IT decrease bank’s performance by 4.2% ,while point of sale (POS) terminal had positive insignificance effect on bank’s performance. It was recommended that Central bank of Nigeria (CBN) should formulate policy for effective utilization of Information Technology in bank sectors in order to have positive effect on banks’ performance.
Keyword: Automated teller machine, Branch, Information technology, investment, Point of sale.
An Analysis of Financial Management in the Success of Small Scale Business
*Yusuf Muhammad Sani; **Alhaji Kawugana PhD; **Shehu Adamu Jumba; *Adamu Yahuza; & *Umar Abubakar
*Accountancy Department, Federal Polytechnic Bauchi, P.M.B 0231 Bauchi State, Nigeria **Bursary Department, Federal Polytechnic Bauchi, P.M.B 0231 Bauchi State, Nigeria
This study analyzed financial management approach in the success of small scale business. The purpose of this study is to carry a study on a financial management system and the survival of small scale industries in Nigeria with particular reference to one among the leading printing press situated in north eastern part of Nigeria known as Ramadan Printing Press, Bauchi State. The survey research design was adopted and Instrument of data collection are questionnaire and personal interview which formed the source of primary data and secondary sources of data were also used. 40 questionnaires were distributed to the staff of the company and only 35 were filled and returned. Tables and simple percentages were used to analyze the data. The statistical tool used to test hypotheses was chi-square (X2). The major finding of the research is that the use of poor accounting and internal control system has negative impact on the survival of small scale industries in Nigeria. Based on the finding, the study concludes that it is clear that financial management approaches is the main factor in the success of small scale business. , Based on the conclusion the study recommends that there should be proper financial management concerned with planning and controlling of the firm’s financial resources and there is no way a business can succeed without planning and controlling its financial resources.
Keywords: Financial Management, Small Scale, Business, Success, Analysis
Impact of Globalization and Information Communication Technology on the Practice of Accountancy Profession in Nigeria
Ali Usman Mamuda; & Babagana Mallam Abatcha
Department of Accountancy, Ramat Polytechnic Maiduguri
The extent of considerable services being provided by the professional accountants in Nigeria makes their roles to be subjected to changes with the change of time, business and economic policies. This study was conducted to examine the impact of globalization and Information and Communication Technology (ICT) on the practice of Accountancy Profession in Nigeria. The data for the study were collected mainly from questionnaire. The analyses and interpretations from this work were strictly based on the information obtained from selected practicing professional accountants in Nigeria. The population for this study is professional accountants in North East Nigeria. A sample size of 182 professional accountants in public practice, private sector, audit firms and sole practitioners was selected from the North East Nigeria using random sampling technique. One hundred and eighty-two (182) copies of questionnaire were successfully filled and retrieved. The study discovered that professional accountants in audit firms are equipped with ICT and knowledge of global financial practice. However, the study discovered that other professional accountants working in public or private sectors are not properly equipped with ICT and global financial practice. The study recommends among others that professional accountants must ensure that they acquire basic technical knowledge, conceptual understanding, analytical skills, intellectual ability and sound communication skills. They should also be proactive in approach and always ready to face challenges of the financial world through efficient and relevant ICT training. This can also be achieved through engaging in acquiring training and re-training from their professional bodies and proficient ICT centres as well as reading widely to be conscious of the global financial practice and technological advancement.
Keywords: ICT, Globalisation, Professional Accountants, Technological Advancement,
Nature of Statutes for Compensation for Oil Pollution Damage in Nigeria: Application of Marxian Theory of Dialectical Materialism
Aniekan J. Mendie
Department of Business Administration and Management, Federal Polytechnic, Bauchi, Nigeria.
Oil production, development and exploitation are activities arguably sustained and regulated by statute laws in Nigeria. Huge proceed continually derived from oil production and exploitation now makes oil resources to be the mainstay of the country’s economy. Regrettably, the oil business alliance formed by the Nigerian state and the capitalist Multinational Oil Companies (MOCs) is aggressively after material profits. The demands by individuals and local oil communities in the oil bearing areas in Nigeria for compensation are not adequately addressed by the oil business alliance. Hence, there are grievances, conflicts and litigations associated with oil exploitation as a result of inadequate or non-payment of compensation for oil pollution damage. Conflicting economic interests, little or no payment of compensation for oil pollution arising between the oil business alliance and the oil bearing communities in Nigeria are perhaps, characteristics of the law regulating oil production and exploitation in the country. This paper therefore, looks at the nature of statutes for regulation of compensation for oil pollution damage in Nigeria, adopting the Marxian theory of dialectical materialism in its analysis. The paper uses doctrinal approach to analyze concepts, principles and rules from statutes and academic journals gathered to develop its thematic scheme. In findings, the paper states that oil pollution compensation laws split in statutes are pro-state and the capitalist Multinational Oil Companies’ interests; and not oil pollution victims focused. Thus, the paper recommends that specific and clear statute be made to address the demands for compensation for oil pollution damage in Nigeria.
Keywords: Nature, Statutes, Compensation, Oil Pollution, Nigeria, Dialectical Materialism.
The Nigerian Manufacturing Sector and ‘Industrie 4’: Opportunities and Challenges.
Alamu Salawu Abideen
Innovation and Technology Policy Department, Nigerian Institute of Social and Economic Research (NISER), PMB 5 UI Post Office, Ibadan, Nigeria.
Industrie 4 (3D Printing, Artificial Intelligence, Internet of Things and Robotics) is a German technology and innovation model for achieving inclusive economic development during the 4th industrial revolution. It is a digital platform for the creation of new products, services and market as well as opportunities for people to interact for improvement in quality and affordability of goods and services to enhance quality of life. This paper investigates Nigeria’s potentials and readiness for Industrie 4. Content analysis of relevant documents obtained from secondary sources on Industrie 4 and the current position of Nigerian industrial sector provided information for the paper. Results showed that Nigerian industrial sector is weak due to its low contributions to the nation’s GDP and employment. The nation’s industrial sector utilizes low technology with poor research and development activities and operates under weak infrastructure and poor industrial environment and therefore remains uncompetitive. The results further showed that Industrie 4 requires innovative labour equipped with relevant skills and technology under a conducive industrial environment. Nigeria’s industrial sector must benefit from the opportunities in the Industrie 4 in order to become competitive and relevant in the nation’s economic development. The paper recommends necessary policies for the adoption of Industrie 4 to achieve a vibrant industrial sector for economic development.
Keywords: Industrial Development, Innovation, Nigeria & Technology
Effect of Entrepreneurship Orientation on Firm Performance in Adamawa State- Nigeria
Habu Umar Jingi; Grace Iliya; & Naomi Ishidi Asarya
Department of Office Technology and Management, Federal Polytechnic Mubi, Adamawa State
This study aims to examine the effect of entrepreneurial orientation on firm performance in Adamwa state. The unit of analysis was employee of Adama Beverages and savanna sugar company Numan. Survey respondents are 169 of of Adama Beverages and savanna sugar company Numan. This study uses a quantitative approach. Data analysis tool used was linear regression. The results showed that entrepreneurship orientation affect positively and significantly toward Objective Fulfilment, Return on Sales and Return on Assets. Overall result indicates that entrepreneurial orientation significant effect on firm performance. This study recommended that managers should properly implement their orientation based to increase firm performance.
Keywords: Entrepreneurial Orientation, Firm Performance.
Test for the Validity of the Arbitrage Pricing Theory (APT) in the Nigeria Banking Industry.
Musa, Abdulai Aliakhue; & Okologume, Henry Chukwudi
Department of Banking and Finance, School of Business Studies, Federal Polytechnic, Auchi, Edo State, Nigeria
This study attempts to capture the application of Arbitrage pricing theory in the banking sector of the Nigerian Capital Market using macroeconomic variables as the determinants of returns of the sector chosen. The data collected include, returns on banking index which constitutes the dependent variable, RGDP, Exchange rate, Inflation rate and money supply which constitute the independent variables for the period (2009-2019). The data collected were subjected to Ordinary Least Square (OLS) regression analysis. The output of our findings shows that RGDP, Inflation and Exchange rate were statistically fitting in explaining returns on security of the Banking sector although they were found to inhibit growth of returns. Only money supply was found to positively drive growth of returns in this sector. The study concluded that the arbitrage theory holds true in the banking sector of the Nigeria capital market and therefore recommended that that regulatory agencies should make appropriate policies aimed at stabilizing macro-economic vagaries especially those seen to inhibit returns.
Keywords: Real Gross Domestic Product, exchange rate, inflation rate and money supply.
Effect of Investment Decision on the Growth of Small and Medium Enterprises (SMEs) in Nigeria
Hamza Salihu Umar
Department of Banking and Finance, Federal Polytechnic, Bauchi
Small and medium enterprises (SMEs) investment forms a very important part of the Nigerian economy. The SME sector is a major engine which encourages the growth of jobs opportunities and wealth creation in the country’s economic system. SMEs investment acts as a significant part that is linked to the strengthening and enhancement of the development of the country, increase in SME investment decision leads to growth in manufacturing, agriculture, services, and so on. This is because SMEs are considered as the engine that drives any economy forward including that of Nigeria. Sustainable growth and the increase of SME competitiveness will open numerous doors for employment opportunities, tangible and intangible assets (investment) in the economy. The SME sector has developed rapidly over the years. The main objective of this paper is to look at the effects of investment decision on the growth of SMEs in Nigeria. The questionnaire will be use to obtain primary data for the study. Regression has also used as a tool for data analysis. Based on data analysis it will be discovered that the rate of investment is low; the rate of growth of SMEs is also low; the rate of return on investment is moderate and the profit on investment is low. It will recommend that the government and the private sector should invest more for the faster growth of small and medium enterprises; the government should work hard reducing the rate of inflation in order to enhance the purchasing power of the citizen; this will go a long way to increase the rate of return on investment by small scale entrepreneurs and the government and private sector should come together and work for the growth of the economy in order to help SMEs to earn higher profit on their investment.
Keywords: Investment Decision; Growth; Small and Medium Enterprises. (SMEs)