AFRICAN SCHOLARS JOURNAL OF MGT. SCIENCE & ENTREPRENEURSHIP (JMSE-5)
VOL. 8 NO. 5 ISSN – 2276-0732
African Scholar Publications and Research International,
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EFFECT OF OIL PRICE FLUCTUATIONS ON MACROECONOMIC VARIABLES OF SOME SELECTED SUB-SAHARAN AFRICAN COUNTRIES: A PEDRONI PANEL COINTEGRATION APPROACH
MUHAMMAD, MANSUR & SANI MUHAMMAD
Department of Economics, Faculty of Social Sciences, Usmanu Danfodiyo University, Sokoto.
This paper sets out to apply a newly developed panel unit root and cointegration approach to the time series of some selected Sub-Saharan African macroeconomic variables as affected by global oil price fluctuations. We consider five countries each from importing and exporting countries in Africa. The cross sections considered were; (exporting countries: Nigeria, Angola, Algeria, Libya, Egypt) importing countries: Ghana, Cameroun, Cote Devoir Rwanda and Benin. The empirical result revealed long run equilibrium relationship among GDP, exchange rate, unemployment and oil prices. The long run normalised equation shows that oil price fluctuation negatively affect GDP and exchange rate, while positively affect exchange rate and unemployment though that of unemployment is not significant at 5%.pairwise granger causality test statistics indicates short run causality running from oil price to variables under investigation, the lingering effect is more severe in importing nations going by the magnitude of the coefficients of the long run equation, this explain theoretical and practical implication of the major oil price shock on the economy of the importing nations. Hence, we recommend effective utilisation of the excess crude oil benefit during boom especially for exporting nations, secondly, oil producing nations in Africa should take a bold step towards self-sufficient in refined product so as to export the excess to their neighbouring African nations, this will go a long way in ameliorating the major external shock to the African importing nations through cut in cost of transportation and other tariffs from western world.
Keywords: Sub-Saharan Africa, Panel Cointegration, Oil Price, and exchange rate
THE EFFECTS OF WORKING CAPITAL MANAGEMENT ON BANK PERFORMANCE.
JO GOLD CHIKE ALIBOH1 ABDULMAJEED ALIYU1 JAJI GARBA1 AKINBAMI AKINBIYI FEMI1
1Department of Accounting and Finance Technology, Faculty of Management Science. Abubakar Tafawa Balewa University, Bauchi State.
The main purpose of this research was to establish the effect of working capital management on bank performance. In addition, this study sought to determine the effect of specific working capital components on profitability of deposit money banks in Nigeria. This study employed panel data methodology and a population constituting six banks (First Bank, Diamond Bank, Guarantee Trust Bank, Access bank, Union Bank and Zenith Bank) was examined. The period under review spans from 2012 to 2016. The data for the study was derived from secondary data sources including the bank statement of financial position and statement of profit or loss of the six banks. The variables that were used in this study for the measurement of working capital management are Current ratio, Cash ratio, Return on capital employed, Firm size and Leverage ratio are the control variables. The dependent variable that is used in this study for the measurement of the bank performance is Return on Asset. The results reveal that cash ratio, current ratio and return on capital employed were correlated to bank performance but cash and current ratio was weakly correlated to bank performance with 12% and 9% respectively while return on capital employed with 85% (0.8468) was strongly correlated to bank performance that means when there an increase there will be a corresponding increase also in profitability of the banks.
Keywords: working capital management, current ratio, cash ratio, leverage ratio, firm size, return on capital employed, return on assets and deposit money banks
THE CREDIBILITY OF COOPERATIVE THRIFT AND CREDIT SOCIETY IN THE DEVELOPMENT OF THE NIGERIAN ECONOMY
*MRS HAFSAT OZIOMA USMAN, *ABDULKADIR MUSA & BALA BAYAMI DANJUMA
*Liberal Studies Department, Niger State Polytechnic, Cabs, Bida Campus **Department of Banking and Finance, Niger State Polytechnic, Cabs, Bida Campus
Given the fact that all attempts to address the economic problems affecting the Nigerian society seem to be failing which is worsened by the present destabilization in the banking sector, it becomes imperative that all stakeholders take urgent steps that can quickly address the situation. It is in the light of this that, this paper discusses how the cooperative thrift and credit society can be used as an alternative means of economic development in Nigerian. The paper notes that cooperative thrift and credit society which is not a new innovation in African counties including Nigeria can be effectively used to tackle the problems of economic breakdown in Nigeria. The paper thus examines how this cooperative venture can be used for this noble purpose. Consequently, practical recommendations are made to effectively achieve the objectives of economic reforms in Nigeria through thrift and credit cooperative societies.
Keywords: Thrift, Credibility, Credit, Cooperative, Development.
CURBING GRADUATE UNEMPLOYMENT AND ECONOMIC RECESSION THROUGH ENTREPRENEURSHIP EDUCATION IN NIGERIA
1 OKEGBEMIRO JAMIU OKESOLA (MR.); 2 MUSTAPHA AFUSAT ADERONKE (MRS.); AND, 3ALAO LATEEFAH ABIOLA (MRS.).
1 2 & 3 School of Business of Educ, Federal College of Educ. (Tech) Gombe State
The biggest banes of Nigeria today are youth unemployment and economic recession. Nigeria, being the giant of Africa has the largest number of youths who are yet to be properly mobilized and empowered for gainful economic activities. This can only be tackled through entrepreneurship education which involves teaching and learning of the needed skills and knowledge that equip one to become self-reliant through being an effective and successful initiator, manager, innovator and risk bearer of business undertakings. Unemployed youths should be encouraged to acquire skills that will be applied to economic activities on graduation from requisite compulsory training while those who are still in school should be made to offer entrepreneurship courses that would prepare them to embark on small and medium-scale enterprises, which have significant roles to play in the development of any economy. Therefore, this paper discusses entrepreneurship education, economic recession and unemployment reduction in Nigeria, problems facing entrepreneurship education and its graduate and ways of addressing this problem so that our national and human resources will be properly employed for economic emancipation, so as to turn our youths into job creators rather than being job seekers. The paper concludes that Entrepreneurship education as a means to an end and a road map towards reduction of unemployment and economic recession should be pursued with every vigor so that its objectives of overall economic transformation will be attained, and among the recommendations proffered are that, “Graduates of entrepreneurship education should form cooperatives to enable them access credit facilities easily to develop their ideas, while government should on her own part patronize these cooperatives when awarding contracts as a way of encouraging them to grow, “Skills Training Centers (STC) which are in form of Post Secondary Technical Training Institutes should be established in every local government area for school leavers and adult learners to acquire employable skills, knowledge and values needed in a competitive global economy and for self employment for onward poverty reduction”; “Enough instructors and supporting staff should be recruited and trained for the take-off of entrepreneurship education in Nigeria”, and “Graduates of entrepreneurship education should be properly guided in writing an acceptable business plan that will be attractive to investors for sponsorship.”
Keywords: entrepreneurship, education, economic recession, graduate, unemployment, curbing
IMPLEMENTATION OF NATIONAL HEALTH INSURANCE SCHEME SERVICE FOR NATIONAL DEVELOPMENT (A CASE OF MEDICAL CENTRE OF THE FEDERAL POLYTECHNIC, BIDA)
*BELLO, BABATUNDE SIKIRU *ABDULSALAM, ABDULMUTALIB ADINOYI **ZUBAIRU, IBRAHIM TSWACHI **OZIMEDE, I. ELIZABETH
*Department of Marketing, Federal Polytechnic, Bida **Department of Business Administration & Management, Federal Polytechnic, Bida
The numerous clamours for satisfaction and value-for-money can be a proxy indicator for the need for improved service delivery of National Health Insurance Scheme (NHIS) to patients. It is therefore the objective of this study to evaluate the extent of compliant with the implementation guideline of NHIS in service delivery to staff of the Federal Polytechnic, Bida Medical Centre who chose the centre as their primary service provider. Descriptive research design was adopted while qualitative data with questionnaire and structured interview from selected respondents were used. Respondents were drawn from patients that visited the medical Centre as well as staff of the Centre. The NHIS Desk Officer of the medical Centre was also interviewed with a view to eliciting purposeful information to aid the study. A sample of one hundred and fifty responses wasexamined with simple random sampling method. Findings indicated that patients in many cases do not get expensive drugs prescribed to them hence; they resort to buying them from outside pharmacies. The study showed that the overall patients satisfaction with the services provided as far as NHIS implementation is concerned is fair but more can still be done to achieve satisfaction especially, in the aspect of drugs administration and operational coverage. It is recommended that there is need for the medical centre to partner with reputable pharmacy(s) in the town to where patients can be referred whenever the Centre is out of supply of drugs instead of outrightly asking them to purchase on their own.
Keywords: Evaluation, Health insurance scheme, Implementation, Medical Centre, Polytechnic
THE EFFECT OF CAPITAL STRUCTURE ON FINANCIAL PERFORMANCE: EVIDENCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA
ENIOLA JAMES AYOOLA, OKPE GABRIEL, IRMIYASOLOMON REUBEN, JAMES LOHNAN LOHFA, ABDULLAHI MUHIBBAT
Department of Accounting and Finance, Abubakar Tafawa Balewa University Bauchi
Capital structure decision is important for every business organization because of the need to maximize returns to various organizational stakeholders and also ensure positive financial performance. Therefore, this study investigated the effect of capital structure on the financial performance of listed Manufacturing companies in Nigeria. To do so, five (5) listed manufacturing companies were selected and studied during the period 2006-2015. Debt to equity ratio, debt ratio and long term debt to asset ratio were considered as capital structure attributes while return on assets was used as a measure of financial performance. Secondary data was obtained from the financial statements of the listed companies. Data collected was analyzed using linear regression to test the research hypotheses so as to determine the relationship of each of the independent variables on financial performance. The findings reveal that debt to equity ratio and debt ratio have positive and significant relationship with financial performance while long term debt to asset ratio has a positive and no significant relationship with financial performance. The study found that a unit increase in any of the independent variable would lead to a unit increase in financial performance. It was recommended that firm should use a mixture of debt and equity to finance their assets.
Key words: Capital structure, Debt, Equity, Companies and Financial performance
EFFECTS OF CAPITAL STRUCTURE ON FIRMS FINANCIAL PERFORMANCE CASE STUDY COMMERCIAL BANKS IN MAIDUGURI, NIGERIA
Department of Banking and Finance, the Federal Polytechnic Damaturu.
The purpose of this study was is to investigate the influence of capital structure on firms financial performance a case study of commercial banks in Maiduguri, Nigeria. Results indicates that equity finance, debt finance, optimal capital structure had significant effect on firms financial performance in commercial banks in Maiduguri, Nigeria. The study findings indicated that there was a strong positive relationship (R= 0.637) between the variables. From the study findings it was conclude that equity finance, debt finance, optimal capital structure had a strong positive relationship on firms financial performance in a commercial banks in Maiduguri, Nigeria because there was evident that at 100% confidence level.
Keywords: Capital Structure, Equity Finance, Debt Finance
DIVERSIFYING THE OIL-DEPENDENT NIGERIAN ECONOMY GIVING CONTINUOUS DROP IN CRUDE OIL PRICES: THE PROSPECT OF AGRICULTURE.
RUKAIYAT ADEBUSOLA YUSUF
Department of Accounting, Kaduna State University
The Nigerian economy is highly dependent on a single commodity, this has adverse effect on its people who live in abject poverty and its economy which continues to suffer from oil price shocks, mismanagement etc. This paper examined the international oil prices in relation to agricultural contribution to Nigeria’s GDP within the period 1960 till date. Times series data from national bureau of statistics (NBS), Central bank of Nigeria CBN and CIA Fact book were used, analysed using descriptive statistics and trend analysis. The results shows a downward trend in agricultural contribution to the country’s GDP most especially in periods of oil boom characterised with high oil prices. The study therefore recommends the creation of an enabling environment by the government particularly for agriculture to thrive in a bid to move away from oil dependency through increased budgetary allocation, provision of essential amenities in the rural areas to reverse rural-urban migration, bringing back extension officers, innovative farming, relaxed export conditions for agricultural produce and conducive policies framework that will enable the country to diversify its economy as soon as possible. Other sectors like tourism can also be an option through relaxed tourism conditions. Above all a general change in attitude is of utmost importance before diversification is achieved.
Keywords: oil prices, Gross Domestic Product, Agriculture, economic diversification, Nigeria.
ENTREPRENEURIAL MARKETING PRACTICES AMONG SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN IMO STATE NIGERIA: PROSPECTS AND CHALLENGES FOR DIVERSIFICATION
ANUKAM, AMAOBI ISAAC
Department of Marketing, Faculty of Management Sciences, Nnamdi Azikiwe University, Awka Nigeria
This study explores with empirical evidence the extent of overlap, similarities and dissimilarities between entrepreneurial practices and the marketing concepts among Small to Medium size Enterprises (SMEs) in Owerri, Nigeria. It inquires and assesses approach to marketing practices entrepreneurs apply. Qualitative approach is adopted in the study which requires primary data collection tools consisting of structured instruments for in- depth interviews and guide for focused-group discussion (FGD) and critical incidence analysis are used for data collection. Secondary data were sourced from firms’ records, periodicals and related literatures. Convenient samples of twenty (20) SMEs were studied. Content and Thematic Analysis were used in data analysis. The research findings show that while traditional marketing is structured and it’s framework requires certain conditions to thrive-formal planning and theoretical structures. Entrepreneurial marketing (EM) improvises, and does not seek for a perfect condition to grow a firm. Thus, the highlights of the interface between entrepreneurship and marketing as discussed in the findings on the areas of differences, similarities, overlap and collaboration will give practitioners, academics and scholars greater synergetic leverage over unstable marketplace in the application of marketing and entrepreneurial processes for greater results.
Keywords: Entrepreneurial Marketing, Innovation, Small and Medium Enterprises, Marketing Environment, Marketing Opportunity
ELECTRONIC BANKING IMPLEMENTATION AND CUSTOMERS’ SATISFACTION: A NIGERIAN BANKING SECTOR PERSPECTIVE.
ADEGBOYEGA R. AFOLABI
Accounting Department, Crescent University, Abeokuta
The advancement in Information Technology in the 1980s and 90s which resulted in the advent of worldwide internet technology created big challenges for the banking industry which is known for its worldwide operations. Therefore, electronic banking is a must for any bank or country that which to remain relevance in the financial world of today. This research examine the electronic banking implementation and customers’ satisfaction from Nigerian banking industry perspective. Both primary and secondary source of data are employed The research design adopted in this research work is an exploratory research design and it is characterized by survey of literate and semi-literate individuals; and case study. The data are analyzed using correlation, coefficient of determination, F-test and analysis of variance (ANOVA); these various techniques are used to interpret results of the analysis through Software Package for Social Science (SPSS). The findings showed that there is significant relationship between electronic banking and customers’ satisfaction as well as bank’s financial intermediation role. The research study concluded that electronic banking have improved customer’s satisfaction with significant effect on financial intermediation and financial inclusion as well as citizens’ development in terms of bank customers’ satisfaction in Nigerian economy.
Keywords: Information Technology, Electronic banking, customers’ satisfaction, financial intermediation, and banking industry.