Business In Nigeria Research Articles

Employment Generation of Small-Scale Enterpise and Poverty Alleviation in Rivers State

Job creation opportunities of small-scale businesses in Nigeria for low-skilled workers should be the key to employment creation, which in turn leads to poverty reduction. The seeks to investigate the effects of the employment generation of small-scale enterprises and poverty alleviation in Rivers State. The study used descriptive statistics and the Z-test for the analyses of the data. The finding revealed that the employment generation of small-scale enterprises has a positive and significant effect on poverty alleviation in Nigeria. In addition, it was established that the economic benefits of participants in small-scale enterprises have a positive and significant effect on poverty alleviation in Nigeria. It is concluded that the employment generation of small-scale enterprises considerably enhanced poverty alleviation in Rivers State. The study recommends that policymakers and governments and their agencies provide the technical, technological, financial, managerial assistance, and infrastructure needed for the optimal use of the enormous employment creation opportunities in the small-scale businesses in Rivers State and Nigeria at large.

Environmental disclosure practices dimensions and total value-added growth of the Nigerian listed manufacturing companies

Purpose: This research explored the interaction of environmental disclosure practices dimensions (environmental financial information, environmental non-financial information, and environmental performance information) on total value-added growth of the Nigerian listed manufacturing companies.Design/methodology/approach: Using a secondary data set culled from 39 Nigerian manufacturing businesses traded on the Stock Exchange between 2010-2019, this investigation utilised an ex post facto research strategy. The multiple regression statistical approach was utilised to analyse the data.Findings: The findings indicated that environmental disclosure practices dimensions (environmental, financial information, environmental non-financial information, and environmental performance information) significantly and positively affect the total value-added growth of Nigerian listed manufacturing companies.Research limitation/implication: This study focused on Nigerian-listed manufacturing companies. Future studies could include non-listed manufacturing companies. Also, other industries could be considered in future studies.Originality/value: As far as the authors are aware, this is the first research to establish a connection between the environmental disclosure procedures of traded manufacturing businesses in Nigeria and the overall value-added increase. In addition, the findings showed the interaction between environmental disclosure practices factors on total value-added growth in listed manufacturing businesses in Nigeria are novel and significant.

Cocoa Transfer Agreements, moneylenders, public letter writers and the rise of business elites in South West Nigeria, 1986–2000

Abstract This paper focuses on the subject of the cocoa transfer agreements and the transformation of rural agrarian livelihoods in the cocoa belt of South West Nigeria under the Structural Adjustment Programme (SAP). The paper maps the trajectory and career of three dominant agricultural entrepreneurs in the cocoa produce trade in South West Nigeria during the 20th century. The paper demonstrates that while the cocoa business in Nigeria has received considerable scholarly attention, the impact of moneylenders, public letter writers (PLWs) and cocoa transfer agreements on cocoa business, rural livelihoods and entrepreneurship in the aftermath of SAP is yet to be fully investigated. Analysing the accumulative strategies and contributions of Emmanuel Akintan, Isaac Adegbuyi Akingboye and Rufus Orosundafosi to rural capital formation, the paper highlights the impacts of liberalisation policies on African rural businesses in the aftermath of SAP. The paper combines primary sources, such as oral interviews, personal observation and ethnography, with information collected from the archives, newspapers, diaries, and extant literature to analyse the dynamics of rural accumulation in the cocoa producing South West Nigeria during the 20th century. The paper argues that the acquisition of wealth and the thin line between standard procedures and clandestine deals stimulated accusations of dispossession of peasant farmers by the capitalist moneylenders and merchants in the post-SAP era.

Corporate Environmental Reporting: Do Firms Operating in Environmentally Sensitive Sectors Disclose Enough?

Corporate environmental disclosure has been increasing steadily as it is an essential factor for sustainable development. However, this factor seems to be insufficientl recognised within the Nigerian corporate world. The objective of this study is to assess the level of corporate sustainability disclosures in environmentally sensitive industries in Nigeria. This study is based on secondary data obtained from annual reports of firms listed on the Nigerian Exchange Group (NGX). Data used were collected from 45 sampled companies listed under 6 environmentally sensitive sectors for the 2021 financial year. Content analysis was applied to measure the level of environmental disclosures. The Environmental Disclosure Index (EDI) was prepared based on the Global Reporting Initiative (GRI) Standards. This research used independent sample t-test, analysis of variance, and the Kruskal-Wallis test as techniques of analysis. There were statistically significant differences in firms’ disclosure levels based on environmental certifications. The agriculture industry made the highest environmental disclosure, whereas the companies in the natural resources industry disclosed the least. It was found that companies revealed maximum information on their energy and environmental compliance initiatives, while there was inadequate information in other areas of environmental disclosure, such as supplier environmental assessment, effluents and wastes, and materials. The study provides implications for the strict adoption of a systematic reporting framework, especially for environmentally sensitive firms, while offering insights to guide policymakers, regulatory bodies, industry associations, and businesses in Nigeria to promote transparency and responsible environmental reporting.

Sustainable supply chain management: The right way of doing business in Nigeria

Background: Improved organizational performances and increased competitiveness have been linked to sustainable supply chain management as a strategic tool. In Nigeria, most manufacturing companies seems to be unaware of the importance of this tool in their supply chain processes. Some of their manufacturing outputs are threats to life's existence. Proper adoption of all sustainable practices will not only reduce the cost of production but will also increase business profitability. Purpose: The main objective of this study is to investigate guidelines or practices manufacturing companies in Nigeria must adopt to achieve sustainability in their supply chain management. In addition, to explore the relationship between the outcomes of sustainable supply chain management practices and business profitability among manufacturing firms in Nigeria. Methodology: The research design is a descriptive type. Data was collected using a structured questionnaire that was designed to address each of the research questions. Findings: The findings are presented in tables. It was shown that the general awareness of sustainable practices is a bit above average and the adoption of the practices was seen in varying degrees. Reverse logistics (37%), sustainable warehousing (75%), environmental purchasing (26%) sustainable transportation (4%). Discussions: Adoption of these sustainable practices has been seen to increase sales, improve the corporate image of the firm, and improve information sharing among all stakeholders. However, this adoption is still poor, which means that the manufacturing sector has yet to harness the concept of sustainability as an option for doing business right in the country.

Corporate environmental reporting components and return on capital employed growth of the Nigerian listed manufacturing companies: An empirical analysis

This study explored the impact of corporate environmental reporting components on the growth of the return on capital employed in Nigerian listed manufacturing firms. The study adopted an ex post facto research design. 39 manufacturing businesses listed on the Nigeria Stock Exchange provided secondary data over the research period (2010-2109). The multiple regression statistical approach was used to analyse the data. This study made use of a quantitative research strategy. While environmental non-financial information did not show any significant influence on the return on capital employed growth of identified manufacturing organisations in Nigeria, results showed that environmental financial and performance information had a significant and beneficial impact. However, the data demonstrated that the integration of all aspects of corporate environmental reporting positively and statistically significantly influenced ROCE growth in Nigeria’s listed manufacturing businesses. A future study could expand the population of the study to include non-manufacturing companies in other industries. The implication of these results is that the manufacturing companies in Nigeria need to pay more attention to environmental, financial, and environmental performance information to enhance their return on capital employed growth. The writers were unable to locate any prior research that demonstrated this connection. Additionally, corporate environmental reporting components impact the growth of return on capital employed in listed manufacturing businesses in Nigeria, and this research provides new and significant findings in this area.

COLLECTIVE INVESTMENT SCHEME AS A TOOL FOR ECONOMIC INCLUSION AND DEVELOPMENT IN NIGERIA

There are two major challenges to doing business in Nigeria: lack of capital and managerial expertise. With the large population of Nigeria, and by implication, the size of her market, Collective Investment Scheme (CIS), as regulated under the Investment and Securities Act (ISA) 2007, provides the necessary platform to overcome the two challenges above. Where the two challenges are overcome, the CIS can be a tool for economic inclusion and development in Nigeria. This study, therefore, examines the Collective Investment Scheme (CIS) in Nigeria, a business package aimed at economic inclusion and development. CIS, regulated by the Securities and Exchange Commission, offers three types of schemes with potential benefits for investors and addressing housing deficits. The CIS is a vital tool for economic inclusion and development of Nigeria. Its domicile in the Nigerian Capital Market (NCM) is to ensure its success as the funds are only invested in securities of choice for profits. The regulatory expertise and wide powers of the Securities and Exchange Commission (SEC) in the regulation of CIS are for the success and sustenance of the scheme via systemic scrutiny of the CIS managers and their operations. However, a comparison with Mauritius reveals some shortcomings. The doctrinal research method is adopted in this study. This doctrinal research adopts a comparative analysis to identify areas for improvement. The study finds that while CIS has advantages, it also has demerits. Recommendations are proffered to enhance the Nigerian CIS scheme, including addressing regulatory gaps and improving investor benefits.

Assessment of Subsidies for Construction Businesses in Nigeria: Evolution from an Oil-Based Economy to an Infrastructural-Based Economy

Subsidies are financial or non-financial aids or support given to an economic sector, individual or organization by their government to promote the economy and achieve specific policy objectives. This study assessed the use of subsidies for construction businesses in Nigeria with a view to revolutionize the country from oil-based economy to infrastructural-based economy. A structured questionnaire was administered to four hundred and four (404) construction business stakeholders, and three hundred and four (304) representing 75.25% were retrieved from the respondents. Findings revealed that buying and selling of construction materials with Mean Score (MS) of 3.97 is the most successful construction businesses in Nigeria. The major factors considered in rating construction business performance are profitability to the investor (MS=3.70), resource management and control (MS=3.68), and cost performance (MS=3.63). The study concluded that the establishment of construction related institutions (MS=3.97), enforcement of health, safety, and hazards prevention policies (MS=3.91), exchange rate moderation for construction business (MS=3.86), and implementation of the National Building Code (NBC) (MS=3.85) will grow the infrastructural economy. The study recommended subsidies for construction businesses in Nigeria to boost the infrastructural sectors and the economy.

Effects of Fuel Subsidy Removal on Small-Scale Industries in Nigeria

This research explores the effects of fuel subsidy removal on small-scale businesses in Nigeria, a critical sector in the nation’s economic landscape. The study contributes to existing knowledge by focusing on the relationship between subsidy removal and its impact on small-scale industries. A comprehensive literature review considers climate change impacts, socio-economic and environmental externalities, and the historical context of fuel subsidies. While previous studies have investigated macro and micro consequences, this research examines the repercussions on small-scale businesses. Utilising a descriptive research design and a Likert-structured questionnaire, the study investigates the ramifications of recent fuel subsidy removal in a typical community in the country. Key factors, including changes in sales, operational costs, and profit margins, are analysed using descriptive statistical methods and the Chi-square test. The findings highlight the interconnectedness between government policies and the health of small-scale businesses, emphasising the need for evidence-based decision-making to support resilience in adapting to policy changes.

Enhancing Corporate Performance through Debt Financing: Evidence from Nigerian Consumer Goods Firms

Background: Consumer goods firms play a significant role in any economy, like other businesses, require a mix of financing methods to amplify their performance. Aim: The study examined enhancement of corporate performance of Nigerian Consumer Goods Firms through debt financing for a period of eleven (11) years from 2011 to 2022. Methods: The data obtained were estimated using descriptive statistics and panel regression model of fixed effect. Results: The study found a positive and significant impacts of long-term debt (β=0.469729, P=0.0311) and firms’ size (β=0.154547, P=0.0251) on the performance of Nigerian consumer goods firms’ but negative and significant impacts of loan quality (β=−0.037431, P=0.0241) and short-term debt (−0.023417, P=0.0124) on their performance. Recommendation: The study recommends financing through Long-term debt for businesses in Nigeria.

THE PSYCHOLOGY AND SOCIOLOGY OF A FRAUDSTER: IMPLICATIONS FOR TODAY ACCOUNTING PROFESSION

The study examines the Psychology and sociology of a fraudster: Implications for today accounting profession. The investigation was guided by three questions and a hypothesis. The study employed a survey research approach, and the 274 auditing businesses in Nigeria's South-South geopolitical zone comprised the study's population., the Taro Yamane was uses to determine the sample of the study and Spearman rank correlation was used to analyse the data. Results from the research reveal that there was a correlation in capability (r= 0.121 p< 0.05), lifestyle (r= 0.561 p< 0.05 and environment (r= 0.108 p< 0.05) and the psycho-social behaviour of the perpetrator of fraud. The implication was that the professional auditors should apply professional scepticism and exercising due care in engaging their work for better delivery and discharge of their duties, as this will lead to the detection of fraud and the reporting of red flags that are of material misstatement. The study recommended that an active, strong and proper supervision of internal control system will put to serious check the action of fraudulent activities.

Consumers’ level of patronage of halal business in Nigeria: Do religiosity and advertising matter?

Consumers’ level of patronage of halal business in Nigeria: Do religiosity and advertising matter?

Interrogating the Growth and Survival of Nigerian SMEs in the Digital Technology Era through Personal Entrepreneurial Characteristics of Printing Firms in Somolu, Lagos State, Nigeria

In this paper, the personal entrepreneurial characteristics (PECs) of printing entrepreneurs is used to cross-examine the growth and survival of Nigerian SMEs amidst the challenges posed by technological changes in the digital era. It equally assesses the influence of attributes, skills, competences and traits possessed by the entrepreneurs in sustaining businesses in difficult times. A set of questionnaire was administered on 270 entrepreneurs drawn randomly from Somolu, a well-known printing hub situated in Lagos, Nigeria. Descriptive analysis of the demographic variables revealed the sector as fairly technologically-inclined (51.8%) and non-gender discriminatory (59.3% male and 40.7% female). The study further revealed that innovativeness with a mean score of 3.67, ranked 9th out of the 12 PEC variables used in the study, while commitment and determination, and ability to adapt, both with mean scores of 4.85 ranked first among the PECs. In addition, regression analysis (R = 0.804, R2 = 0.646, F = 5.482, p value = 0.01) revealed that PECs support the growth and survival of small and medium scale printing business in Nigeria, with a substantial 64.6% predictive effect. It is therefore suggested that SMEs should adequately harness these potentials to accommodate the transformational efforts suggested to government and universities in the era.

Resource productivity and allocative efficiency in improved cassava (Manihot esculenta) -based mixed cropping system in Ebonyi State, Nigeria

Over 60% of the cassava-producing households in Nigeria have adopted the cultivation of improved cassava varieties resulting in increased cassava yields and output. Yet, the attainment of domestic production level that would cope with the domestic consumption and the needs for the export market can only be achieved if the technical efficiencies of smallholder farm resources are upgraded and the cassava farmers become more efficient in the allocation of these resources. This study examined the resource productivity and allocative efficiency in improved cassava-based mixed cropping system in Ebonyi State, Nigeria. A multistage sampling procedure was employed to select a total of 120 respondents (comprising 60 adopters and 60 non-adopters of improved cassava-based mixed cropping system) on whom structured questionnaires were administered during the 2022/2023 cropping season. Inferential statistics involving the Cobb-Douglas production function and descriptive statistics were used for data analysis. The regression results revealed that all the five resource inputs for the adopters and four inputs excluding agrochemicals for non-adopters of the improved cassava-based mixed cropping system positively contributed to output of the respondents in the area. The results further showed that most of the resource inputs were of higher productivities under the adopters than the non-adopters. The result of the deviation from unity of the ratio of the Marginal Value Product (MVP) to Marginal Factor Cost (MFC) revealed that the adopters were more efficient in the allocation of land, cassava stem cuttings and miscellaneous variable capital inputs than the non-adopters. Constraints to increased cassava production in the area include lack of finance, high cost of farm inputs, among others. Policy measures aimed at liberalization of agricultural credit schemes to enhance farmers’ access to essential farm inputs, introduction of labour-saving techniques to farmers among others were recommended towards increased production and profitable cassava value chain business in Nigeria

Interstitial lung disease; a need for oxygen concentrator rental business in Nigeria?

Background: Patients with chronic obstructive airway diseases often need domiciliary oxygen supply. Case report: We report an elderly woman with interstitial lung disease that was dependent on intranasal oxygen. We discuss the need for rental oxygen concentrator business in Nigeria. Key Message: Rental oxygen concentrator business will make oxygen concentrators affordable in Nigeria

Undergraduate Students' Intention to Start their Own Business in Nigeria: the Importance of Family-Support, Innovativeness and Alertness

Entrepreneurship is one of the effective solutions to address a range of social and economic issues. Therefore, the Nigerian government decided to integrate entrepreneurial subjects in tertiary institutions to promote entrepreneurship and strengthen students' entrepreneurial prowess and intentions. Entrepreneurial development requires an understanding of the factors that are intrinsic to the entrepreneurial process. The current study examines the relationship between university students' entrepreneurial intention, family-support and innovativeness alertness. Survey design was used and convenience sampling was employed in obtaining a sample of seven hundred (700) respondents across selected federal universities in southeast geopolitical zone of Nigeria. The results demonstrated a favorable correlation between students’ entrepreneurial intention and innovativeness, entrepreneurial alertness, and family-support. Furthermore, among undergraduate students, family-support mitigated the association between entrepreneurial awareness and entrepreneurial ambition, but it had no effect on innovativeness. Our research indicates that when trying to encourage college students to take entrepreneurial actions through policies or educational programs, educators and policymakers should take into account the influence of exogenous factors such as family-support. They should also reconsider the current models of entrepreneurial education that are widely used in our educational system in order to integrate inclusiveness of both exogenous and endogenous factors influencing entrepreneurship.

Strategic Networking: A Re-Engineering Approach for Sustainable Growth of Small Businesses in Nigeria

Strategic Networking: A Re-Engineering Approach for Sustainable Growth of Small Businesses in Nigeria

The Influence of Organizational Agility on Customer Retention in Medium Scale Businesses in Nigeria

Firms that operate in the informal sector in most developing countries are technologically backward, with low levels of human resource skills, weak management systems and entrepreneurial capabilities, unavailability of appropriate and timely information, insufficient use of information technology, poor product quality and standardization, and unfriendly environmental production processes. This has impeded their ability to take on suitable organizational forms. This research sought to ascertain if there is a significant relationship between organisational agility and customer retention in medium-scale enterprises in the north-central zone of Nigeria. To achieve this objective, the variables were operationalized and a model was specified. The study adopted descriptive survey research design. Data were gathered from primary sources and the study hypothesis was tested using the Multiple Regression Technique. From the result of the regression analysis, organizational agility was found to have a positive and significant relationship with customer retention in medium-scale enterprises in North-Central Nigeria. Based on these findings, the study recommended that enterprises should exploit the resources that generate their present value while also exploring new opportunities to adapt it to changing markets.

IMPACT OF CLAIMS SETTLEMENT ON PROFITABILITY OF GENERAL INSURANCE COMPANIES IN NIGERIA: A STUDY OF SELECTED LISTED GENERAL INSURANCE COMPANIES

This study investigates the impact of claims settlement practices on the profitability of general insurance companies in Nigeria. The study employed an ex post facto research design with the use of twenty (20) years’ financial data from 2003 to 2022 from published annual financial reports of five (5) sampled listed non-life insurance companies carrying on insurance business in Nigeria. Hypothesizing the dependent and independent variables with the proxies ROA; and LR, ER; CR. Panel data methods were used with other supporting tests using E-views (version 10) data analysis tool. With a balanced data of 100 observation - five cross-sectional data of 20 years period, the results revealed a negative relationship between the proxies (ER, LR and CR) of the independent variable – Claims settlement practices, as they could only explain to a negligible extent, the changes that occurs in the dependent variable. Premised on the findings, it is recommended that general insurance firms settle genuine claims as prompt as possible while the maintain required underwriting standard to avoid problem of adverse selection engendering possibility of ruin.

Auditors’ characteristics and timeliness of listed family-owned firms in Nigeria

Research question: What are the effects of auditors’ characteristics on timeliness of financial reporting among listed family-owned firms in Nigeria? Motivation: Timely issuance of audited annual financial report is highly desirable to various stakeholders against top management insider trading on the accounting information of which family-owned listed firms is highly prone to involve. Idea: This study examined the effect of auditor’s characteristics on timeliness of listed family-owned firms in Nigeria. Specifically, the study investigated the extent at which auditor’s type; audit opinion; audit fee; auditor’s tenure; and joint audit affect timeliness of financial statements of listed family-owned businesses in Nigeria. Data: The data used and evaluated covered a period from 2012 to 2021, and were drawn from 47 listed family-owned firms in Nigeria. The secondary data were obtained from MachameRatio database. Tools: Both descriptive statistics and partial least square regression analyses were performed. Findings: The robust test performed revealed that Big-4 audit firms, audit opinion and audit tenure have positive effect, while audit fee and joint audit impound negative effect, on timeliness of financial statements of listed family-owned firms in Nigeria. However, the result is statistically significant for audit opinion, audit tenure and audit fee. Contribution: The implication of the findings is that audit opinion and audit tenure enhance timely issuance of the financial reports of listed family-owned firms in Nigeria. This study’s contributions to the body of knowledge include exploring the position of auditor’s features on timeliness of financial statements of listed family-owned firms in Nigeria which extant studies have scarcely investigated. The study recommended that listed family-owned firms in Nigeria should engage auditors for longer audit tenure among others.