Financial Flows Research Articles

MODELING COMMERCIAL BANKS' KEY DRIVERS FOR FUND MOBILIZATION IN NIGERIA USING ARTIFICIAL NEURAL NETWORKS

This study explores the core role driving the willingness of commercial banks to mobilise funds for economic development based on the Multilayer Perceptron (MLP) of the artificial neural network (ANN) technique. This approach allows for a nuanced understanding of interdependencies that traditional linear models may overlook, making it particularly suited for analyzing intricate financial systems in emerging economies like Nigeria. This study is critically supported by the Financial Intermediation Theory, which explains the role of financial institutions as intermediaries that facilitate the flow of funds from savers to borrowers. Data used for the analysis and prediction is purposively obtained from 10 commercial banks in Nigeria. The results show that financial institutions are mostly driven to mobilize funds because of their commitment to ensuring an adequate flow of money to serve the deficit sectors of the economy compared to any other underlying reasons. The prediction performs optimally with an r2 value of 86.5% with a cubic predictability model of ????. ???????????????? +????. ???????????? + ????. ???????????????? − ????. ???????????????? − ????. ???????? = ????.????????????????, and the Sum of Square Error (SSE) of 0.002 is minimal based on practice. This study is significant as it could enable financial institutions to make future role predictions relating to this concept in Nigerian settings or other settings analogous to Nigeria using the derived ANN model. These insights provide a basis for banks in Nigeria and similar economies to make strategic financial decisions, supporting the application of ANN models to predict and enhance financial institutions' roles in economic development.

Is transparency furthering clarity in multilateral climate governance? The case of climate finance

AbstractDeveloping countries’ ambitious climate action hinges on the provision of climate finance from developed countries. Yet, despite decades of debate and contestation over this, substantial controversies continue to persist over whether and how much climate finance is flowing, including whether it is ‘new and additional’ to existing development assistance, whether it targets climate mitigation or adaptation, and whether it is delivered as grants or loans. In this article, we draw on a little-examined source of self-reporting by countries to shed light on these persisting climate finance controversies. Elaborate transparency arrangements have been set up under the United Nations Framework Convention on Climate Change (UNFCCC), whereby countries report on climate finance provided and received. We examine transparency reports submitted by 26 countries from 2014 to 2021 by both developed and developing countries, and international review of these reports, to ascertain the extent to which country self-reporting under the UNFCCC sheds light on the nature of climate finance flows between developed and developing countries. We find that both the reports submitted and the international review of these reports are not furthering clarity around climate finance provided and received. This is because of (a) a persisting lack of multilaterally agreed definitions of key aspects of climate finance provided, and a resulting heterogeneity of definitions used by countries to self-report; and (b) because international review of country self-reporting is subject to politically negotiated limitations. We conclude that clarity remains elusive on climate finance provided and received under the UNFCCC, a situation that seems likely to continue under the Paris Agreement’s enhanced transparency framework, due to be implemented in 2024.

Seamless multimodality for passenger transportation in the Russian Federation

The paper considers the formation of a seamless multimodal passenger transportation in order to develop transport infrastructure not only at the regional but also at the federal level. The positive aspects and disadvantages of a multimodal transport system are considered. The paper presents a review of the scientific literature on the above issues. The research methodology is based on proven approaches. Founded on the analysis of the tourist flow, it is proposed to build a system of seamless multimodal transportation in the territory of the Russian Federation (hereinafter referred to as RF). The relevance is due to the need to develop regional transport systems as well as consideration of this topic in the scientific literature, regulatory documents of the industry. Based on the Strategic direction in the field of digital transformation of the transport industry of the RF until 2030, the principles of multimodality are proposed to create a seamless system of multimodal passenger transportation. The development has been conducted for the transport system of the Altai Territory. Based on the data on tourist flows of the Federal State Statistics Service, the calculated route Moscow – Barnaul – Gorno-Altaysk is formed. The introduction of a digital platform for convenient search and booking of transportation is considered, the key points of working with requests are highlighted. The movement of financial and information flows and the algorithm of actions of the system participants are determined.

Analisis Aliran Rantai Pasok Produk Koffie Hiedeung CV Toean Koffie di Kabupaten Karawang

Increasing coffee consumption in Indonesia provides opportunities for the coffee processing industry. CV Toean Koffie is one of the companies in Karawang Regency engaged in coffee processing, which is involved in providing added value and brand branding, the product is known as Koffie Hideung. The supply of coffee beans for Koffie Hideung production is supplied by the farmer communities on the Sanggabuana Mountains in Karawang. The supply chain flow of Koffie Hideung products starts from the farmer level as a supplier to product marketing to consumers. The supply chain concept basically has interconnected aspects including the flow of goods, financial flow, and information flow which will determine the continuity of the supply chain performance mechanism properly. Good supply chain performance is determined by the role of the supply chain members involved. This study aims to analyze the supply chain conditions of Koffie Hideung products using the Food Supply Chain Network (FSCN) model. Based on the results of the analysis, the Food Supply Chain Network (FSCN) model includes 6 aspects consisting of, supply chain structure, supply chain objectives, resources involved, business processes in the supply chain, supply chain management, and supply chain performance. The supply chain structure of Koffie Hideung products involves a certain process from the production of coffee beans in farmers, the manufacturing process by CV Toean Koffie, distribution, to the final consumption by customers.

Conflicting interpretations and FDA reputation: the case of post-market surveillance of breast implants

Conflicting interpretations regarding the severity of the adverse effects associated with FDA-approved drugs and therapies are common among the United States Food and Drug Administration (FDA), the medical community, patients, and the general public. However, scholars have paid little attention to how these conflicting interpretations may affect the FDA’s reputation for facilitating inclusive dialogue between competing policy actors. Focusing on breast implants, a medical device characterized by a stormy regulatory past, we observe that the design properties of post-market surveillance are adjusted to low-quality information. Such information-gathering mechanisms likely lead to underreporting by medical practitioners and patients, thus resulting in low-quality data. Given that the FDA cannot rely on congressional appropriations to ensure a stable flow of funding, the confusion and uncertainty created by conflicting interpretations enhance the FDA’s ability to appeal to different audiences simultaneously and thereby secure funding from industry-based user fees. This strategy may persist until the FDA’s reputation is challenged by critical information regarding adverse effects and the ensuing potentially negative media coverage. A stable appropriation-based funding model will likely encourage stronger post-market surveillance of medical devices.

Conducting the census of 1701–1703 in monasteries: from revision to management

The article considers the question of how specifically the work on the state census of church property was organized in 1701-1703. The importance of this study is explained by the fact that the scribes sent by the Monastery Order (primarily the clerks) often remained in charge of the described monasteries after the census was completed. The author shows how the scribes obtained an exhaustive picture of the state of the entire monastic property, as well as accumulated data on the financial and economic documentation maintained in the monasteries, its accuracy and reliability, the people responsible for this or that property, estimated current income from various tangible assets, i.e. got acquainted with the entire system of organization of the monastic economy. This allowed them to manage church property at the next stage of the reform and effectively control the movement of financial flows

How Can Machine Learning Contribute to the Credit Scoring Process in SME Lending?

This research investigates the potential of machine learning to enhance the credit scoring process in small and medium-sized enterprise (SME) lending. SMEs are vital to global economies, accounting for over 90\% of businesses and more than half of total employment worldwide, according to The World Bank (2023). In emerging economies, SME lending is particularly crucial, providing access to capital that supports economic growth and development. However, assessing the credit risk of SMEs poses unique challenges due to limited financial histories and variable cash flows, making accurate credit scoring essential for lenders. Machine learning offers promising solutions for the risk assessment process in SME lending, leveraging algorithms and large datasets to identify patterns and improve decision-making. By applying techniques such as artificial neural networks, decision tree learning, gradient boosting, logistic regression, random forest, and support vector machines, machine learning can enhance the accuracy and efficiency of credit scoring models. This research explores how these machine learning methods can reduce biases, improve risk prediction, and ultimately support sustainable lending practices by enabling lenders to make more informed credit decisions. The findings aim to illustrate the transformative potential of machine learning in SME credit scoring, offering a framework for financial institutions seeking to integrate advanced data-driven technologies in the credit assessment process.

Концептуальні рамки управління борговим фінансуванням публічних бюджетів

Introduction. Overcoming the consequences of the COVID-19 pandemic and full-scale Russian aggression against Ukraine caused the destruction of a stable system of managing financial flows not only in our country, but also in many states. Market and regulatory mechanisms for mobilization and the use of financial resources were undermined. Fiscal consolidation measures were changed in favor of expansion. The need to increase the resource base on the basis of state debt has intensified. The use of standardized approaches in the field of fiscal policy did not make it possible to limit risks under new conditions. The task of implementing new conceptual approaches to the management of public budget financing based on the use of debt instruments has arisen. Problem Statement. An increase in debt financing of public budgets helps to expand the volume of resources for the implementation of state plans. At the same time, the pressure on the financial system is growing, which requires making significant changes to the formation of the structure of debt instruments, their placement on domestic and foreign financial markets, attraction of resources on preferential terms from foreign partners, fulfillment of repayment and servicing obligations, refinancing and restructuring of loans. Determining rational management decisions on these issues involves the development of a conceptual framework for public debt financing. The purpose is to study the formation of a conceptual framework for managing debt financing of public budgets and their use in the practice of public administration. Methods. Research methods are used: historical, logical, abstraction, description, generalization, comparison, grouping, analysis and synthesis. Results. The adoption of the debt framework guides the definition of debt strategy, debt management goals, indicators of its volume and structure, debt management tasks, as well as mechanisms and tools for their implementation. The debt strategy reflects the orientation of the debt policy, the goals of public debt management for long and medium-term periods, its indicators, the use of tools and mechanisms for achieving the adopted goals, the formation of the debt portfolio for the specified terms, the classification of risks of government debt management taking into account their impact on the performance of state budget, the application of refinancing and restructuring mechanisms for state liabilities. Conclusions. The conceptual framework for managing debt financing of public budget is an important guiding document aimed at taking into account the conditions for placing debt obligations among investors (state institutions, non-state depositors, non-residents), access to international financial markets, cooperation with international organizations and financial institutions, acceptance of debt portfolio (the structure of state budget financing), built according to types of debt instruments, sources of financing, currencies of loan repayment and servicing, repayment terms, loan servicing rates and debt refinancing. The development and implementation of the conceptual framework for the management of public debt transactions is important for Ukraine. In the conditions of overcoming the consequences of the war and post-war reconstruction, it is necessary to apply a comprehensive approach to the formation, distribution and use of resources raised on the basis of the use of public debt instruments.

Методологічні підходи до дослідження та формування інституційного забезпечення кліматичного фінансування

Introduction. At the core of any scientific research lies the process of cognition, which necessitates clarification of the conceptual approach in accordance with the chosen methodology. The desired outcomes are determined not only by the initial theoretical stance of the researcher but also by a well-founded formulation of the problem and a specification of the directions for scientific inquiry. Thus, proper scientific cognition and the selection of specific general and special methods require an adequate theoretical and practical understanding of reality, necessitating a sophisticated methodology for scientific research. Problem Statement. Preventing, countering, and adapting to the negative impacts of climate change for the socio-economic development of countries and the deterioration of the environment require the establishment of effective institutional support for climate financing, aimed at mitigating these issues. To implement such measures through climate financing, a well-grounded methodology is essential for both research and the formation of institutional support for climate financial flows. Purpose. To define methodological approaches to the study and formation of institutional support for climate financing. Methods. A systemic approach was applied, along with monographic, historical, economic-statistical methods, and methods of comparative and expert analysis. Results. The significance of the methodology of scientific cognition has been established. Methodological approaches to the study and formation of institutional support for climate financing have been outlined, along with their components and the methodological arsenal for addressing the identified issues. Conclusions. To conduct a comprehensive study and establish institutional support for climate financing, advanced methodological approaches are required. These will enable a thorough understanding of the essence, varieties, functions, components, and instruments of such financing, facilitating the development of adequate institutional support to enhance the effectiveness of prevention, counteraction, and mitigation of the negative impacts of climate change and adaptation to these changes.

The Effectiveness of the African Union’s Mechanisms in Preventing and Combatting Corruption and the Commitment to Achieve Development Agendas 2030 and 2063

Annually, Africa loses more than $50 billion through illicit financial outflows, and most countries have remained over-dependence on resources supplied by development partners. Efforts to address these impediments are mainly focused on the steps that must be taken to reduce outflows and ensure development resources remain within the continent to reduce, among other things poverty and hunger, ensure good health and well-being as well as quality education, and provide clean water and sanitation to the African citizen. This paper builds on traditional anti-corruption mechanisms and explores processes that support strategic litigation. The paper finds opportunities to use both the merged and yet-to-be-operationalised African Court of Justice and Human Rights (AfCJHR) and the African Court on Human and Peoples’ Rights. The paper supports the requirement of making declarations under Articles 8 (3), 5 (1,d & 3), and 34 (6) of the African Court of Justice and Human Rights and the African Court on Human and Peoples Rights, respectively.

Analisis Pengaruh Ekspor dan Impor Terhadap Pertumbuhan Ekonomi Pendekatan Akuntansi Arus Dana yang Dimediasi Foreign Direct Investment di Indonesia Tahun 2019-2021

The purpose of this study was to determine and examine the effect of exports and imports before, during, and after the covid-19 outbreak on economic growth with an accounting approach to foreign direct investment mediated fund flows in indonesia. Quantitative approach with PLS analysis technique is used in this study. Secondary Data obtained from various official websites were used in this study. This study provides the results that exports and imports have a positive and significant influence on economic growth with the approach of accounting for the flow of funds mediated by foreign direct investment in Indonesia. This implies that exports and imports have an important role in economic growth approach to accounting for the flow of funds. Foreign direct investment plays an active role in mediating the relationship between exports and imports to economic growth. The declining value of exports, imports, and foreign direct investment during the pandemic also affected the decline in economic growth in Indonesia. Export activity needs to be increased so that economic growth also increases. Likewise with import activities, although imports are excessive trade balance deficit, imports also have some positive influence on economic growth such as by importing can meet domestic needs and open opportunities to attract investors to invest. For this reason, imports need to be controlled so that economic growth continues to increase.

ПОДАТКОВА СИСТЕМА УКРАЇНИ ТА КРАЇН ЄВРОПЕЙСЬКОГО СОЮЗУ: ПОРІВНЯЛЬНИЙ АСПЕКТ

Introduction. The tax system is one of the main tools of economic policy, which allows to regulate financial flows, stimulate economic development and ensure the stability of public finances. Comparing the tax systems of Ukraine and the European Union countries is important for understanding the ways of integration and adaptation of the Ukrainian economy to European standards, especially considering Ukraine's intentions to join the EU. The purpose of the article. The goal of the research is to identify the peculiarities of the functioning of the tax system of Ukraine and the tax systems of the European Union and, on the basis of a comparative analysis, to identify their positive and negative characteristics. Methods. The research methodology involves the use of a comprehensive approach, which includes the analysis and systematization of sources of scientific and practical literature, regulatory and legal framework and analytical data. The research uses methods of comparative analysis to determine the advantages and disadvantages of the analyzed tax systems, a system approach to determine the conceptual basis of the functioning of the tax system of Ukraine and the EU countries, as well as a method of logical generalization to formulate conclusions. At the same time, the article uses a tabular method to visually present the research results. Results. The article defines the necessity of researching the tax systems of the countries of the European Union and the tax system of Ukraine. It was found that the level of taxation in Ukraine corresponds to the average European indicators. An analysis of rates for value added tax, personal income tax, and income tax in Ukraine and in such countries of the European Union as Germany, Spain, Italy, France, Poland and others was carried out. The analysis showed that Ukraine currently has one of the lowest tax rates for the three main taxes among the European countries under review. It has been proven that there is no ideal taxation system. The main advantages and disadvantages of the investigated tax systems are determined. Conclusions. The importance of forming an optimal taxation system in Ukraine as a key element of the socio-economic development of the country in the conditions of military aggression is proven. The main imperatives for the development of the tax system of Ukraine in the conditions of European integration processes are proposed.

Towards a Standardized LCOE Calculation for Informed Decision-Making in Energy Policy and Investment: Application to the Colombian Context

The Levelized cost of electricity - LCOE represents a constant cost per unit of generated electrical energy, resulting from the analysis of the total costs throughout the life cycle of a generation plant. Its widespread use, thanks to its simplicity of calculation and potential of standardization, has made it one of the primary criteria for comparing electricity generation technologies. However, in the pursuit of simplification and generalization, certain aspects associated with the socioeconomic context of the region, as well as accounting and financial concepts, are excluded due to externalities or incentives related to regulatory and fiscal policies. These exclusions affect the accuracy of LCOE and introduce uncertainty when using it as a criterion for investment decision-making or allocation of public resources for the development of renewable sources. This article proposes a clear and standardized methodology for calculating LCOE, which allows for a fair and precise comparison of renewable energy generation options in rural areas. It contributes to informed and transparent decision-making in the fields of energy policy and public investment for expanding electricity service coverage. The proposed methodology is based on the financial cash flow matrix to address variability sources in the calculation, considering the local context of the generation project.

An ETF-based measure of stock price fragility

Equity mutual fund flows are commonly employed to measure stock price fragility - a stock’s exposure to non-fundamental demand risk. However, this approach may be biased by confounding fundamental information, potentially underestimating risk exposure. We propose an alternative method that uses the primary market data of exchange-traded funds (ETFs). This approach overcomes many limitations of mutual fund data, incorporates the influence of a broader set of investor demand, and strongly predicts stock return volatility and return comovement. Our study highlights the significant role that the arbitrage trading activity of ETFs play in signaling non-fundamental demand shocks.

FX resilience around the world: Fighting volatile cross-border capital flows

The volatility of cross-border capital flow (CF) has become higher in the last two decades. We use a sample of advanced and emerging market economies in the last two decades, with a focus on portfolio fund flows (equities and bonds). We find that the impact of portfolio CF volatility on exchange rate (FX) volatility is diminished in the short-term if specific economic fundamentals of the country are stronger, especially when these fundamentals pass certain threshold levels. The finding is controlled for different exchange rate regimes and the level of capital control. We further introduce an intuitive FX resilience measure that can be used to assess the stability of exchange rates in the context of heightened CF volatility. The decomposed FX resilience measure shows that the major contributing fundamentals to FX resilience are from the finance channel, including short-term interest rate, fiscal surplus, and financial development.

ECONOMIC CHALLENGES AND FINANCIAL OPPORTUNITIES OF ONLINE RETAIL IN UKRAINE DURING THE WAR: ALIGNMENT WITH GLOBAL TRENDS AND INNOVATIVE PERSPECTIVES

This article serves both theoretical and practical purposes contributing to the body of knowledge, expanding our understanding of online retail development, particularly in challenging contexts, like wartime, suggesting further avenues for future studies, as well as providing practical guidance for Ukrainian online retailers, helping them improve their strategies, performance and financial capabilities, by stimulation of the innovation over emerging trends and opportunities. It explores the development and financial capabilities of online retail in Ukraine amidst the ongoing war, conducting a comparative analysis with global trends in consumer sentiments and retail business development. Retail is a fundamental pillar of any economy. It serves as a crucial intermediary between producers and consumers, ensuring the provision of essential goods for daily life. It is the main link in providing the population with everything necessary for everyday life and forming stable financial flows to replenish the country's budget. Consequently, the functionality and growth of retail are contingent upon its ability to swiftly adapt to evolving consumer behaviour, constantly finance investments in innovation, and actively seek new opportunities. The war against Ukraine is characterized by severe combat operations, including massive shelling and constant missile attacks. It has presented unprecedented challenges for retailers, including a significant shift in consumer priorities towards consumption, leisure, and future planning, resulting in a serious decline in purchasing power, disruptions to logistical routes, loss of personnel, fuel shortages, and blackouts. Despite these formidable adversities, over the 28 months of the war, retail, and particularly online retail, has demonstrated remarkable resilience, sustainable development and rapid recovery of financial capabilities.The conducted research is the outcome of a set of comprehensive analyses (trends, performance metrics, clustering) of the financial results of retail, primary challenges faced by Ukrainian retailers and the identification of effective adaptation strategies to ensure financial stability. Meta and content analysis with further synthesis of findings, could help to examine the implementation of service-oriented business models, such as marketplaces, which offer a vast array of products and competitive pricing, as a key adaptation strategy. The study also delves into the popularization of online retail and the trends in the transition to hybrid online sales like omnichannel, enabling a "seamless" customer experience through the synchronization of product, pricing, and order information across all sales channels. Additionally, retailers are actively working to enhance logistics and delivery speed through partnerships with logistics companies, establishing their own courier delivery services, and expanding their physical presence through retail outlets. A comparative analysis with international experience reveals the similarities and differences in the challenges faced by Ukrainian retailers, the factors contributing to success and the methods of transformation. It further explores the adoption of digital technologies and innovative approaches to maintain competitiveness and financial stability even under the challenging conditions of war.

Analysis of mathematical methods for describing financial flows: dynamic modeling of an innovative company

Purpose. Development of a dynamic mathematical model of an innovative company operating in accordance with Ukrainian legislation, allowing for the analysis and adjustment of its financial activities. Methodology. When developing a model and description of financial flows, a factor analysis of the necessary indicators of the financial condition of the enterprise in question was carried out, which were used in the calculations of the presented mathematical modeling. A mathematical apparatus has been developed for calculating financial indicators depending on time. Using inductive, deductive and logical methods, an analysis of the financial situation for the year was carried out. Findings. The main methods and tools for describing financial flows have been analyzed. Mathematical modeling of the innovative company is carried out, which allows analyzing the costs of the enterprise and determining the size of its free funds. The calculation of financial indicators of the enterprise, which are demonstrated in the form of tables, is performed and the dynamics is shown in charts and graphs. All calculations were made on the basis of existing Ukrainian legislation using modern information technologies. Originality. A mathematical dynamic model of changes in financial flows at the enterprise has been developed and implemented. The proposed model takes into account various items of expenses and profits in accordance with the state legislation. Calculations allow for dynamic analysis and determination of the impact of various indicators on the financial condition of the enterprise, which allows for faster adoption and implementation of decisions in managing financial flows. This dynamic model is a convenient tool for any enterprise in Ukraine. Practical value. The results that were obtained during the study can become the basis for creating the necessary digital tools for researching, analyzing and adjusting the financial flows of a particular enterprise. Now methods are available that allow analyzing and describing financial flows more accurately and forecasting their changes in the future. The methodology presented allows the creation of dynamic models that can account for complex dependencies between different indicators and forecast the behavior of financial flows in real time. The financial model allows the simulation of cash flows of planned activities and the evaluation of financial planning in advance, taking into account the conducted research. It is straightforward to use and allows the analysis of different scenarios of business development, significantly reducing the time required.

"Mission-Aligned Funds Flow": Effect on Clinical Departments.

Academic medical centers struggle with the high cost of care, reduced reimbursement, intense competition, and low profit margins. Many factors, including a high proportion of publicly insured patients, a model rewarding procedural specialties, and research and educational support burden, led to faculty salary inequities, physician disengagement, and difficulty recruiting. UC Davis Health implemented an aligned funds flow model in July 2021 to create a mission-aligned model in which all departments had financial margins to optimize recruitment, retention, research, and teaching. The 3-year experience (academic years 2021-2024) with this model at UC Davis Health was characterized by physician compensation, physician recruitment, and profit increases. Total collections for departments increased by 4% in the first year, 0.2% in the second year, and 11.3% in the third year of funds flow. Total productivity increased by 4.9% during the first year, 3.6% during the second year, and 8.4% during the third year. Salaries increased in all departmental categories in year 3. Productivity and collections per faculty member increased during the first year and were stable during the second and third years. Parity among procedural, primary care, and hospital-based service lines was improved because departmental revenue was agnostic to payer mix and hospital agreements were more formulaic. The hospital contribution to funds flow increased from $67 million in 2022 to $101 million in 2024. Regular communication and transparency are critical to ongoing trust and success with implementation of sustaining funds flow. The new model resulted in improved physician compensation and increased hiring. However, the implementation of funds flow had a negative fiscal effect on the academic medical center, and sustainability may require fine-tuning to balance affordability. The authors plan to convert outpatient primary care to productivity-based models and decrease time-limited support for new faculty from 2 years to 1 year.

Assessing the phenomenon of out‐of‐school children in Nigeria: Issues, gaps and recommendations

AbstractSince the 1950s, the Nigerian government has undertaken various reforms and assessments to improve educational planning and delivery. Schemes and legal frameworks, such as Alternative Schools, Universal Basic Education, the Open School Program and the Child Right Act, exemplify efforts to universalise elementary education in the country. Yet, up to 20 million children and youth in Nigeria are currently out of school. Utilising a critical literature review approach, validated by empirical data and correlation analysis, this paper assesses Millennium Development Goal 2 and Sustainable Development Goal 4 to identify the factors that make education inaccessible for children in Nigeria vis‐à‐vis the effectiveness of policies and government interventions. The critical literature review evaluates prior research and data to understand the systemic issues within Nigeria's educational framework. Through this approach, we identify patterns and relationships that underpin the educational crisis, highlighting both successes and persistent gaps. To quantify the relationships between variables, we employed correlation analysis. Our assessment shows a significant positive correlation between unemployment and the rate of out‐of‐school children in the country, indicating that favourable socio‐economic conditions translate to improved access to education. Additionally, geopolitical disparities, insecurity and public spending on education collectively influence educational outcomes in Nigeria. We recommend a reimagining of the out‐of‐school children phenomenon by government agencies, non‐governmental organisations and civil society to focus on household‐level intervention policies that reflect local socio‐economic conditions. This study proposes the initiation of a sovereign annual fiscal audit and expenditure tracker to monitor the flow of funds from patrons or the government to the proposed beneficiaries. Furthermore, we suggest a review of the Universal Basic Education Act of 2004 and recommend that schools are brought even closer to children in crisis‐stricken areas. The findings underscore the pressing need of targeted, context‐specific strategies to address the multifaceted barriers to education in Nigeria. Context and implicationsRationale for this study: Comprehensive critical reviews on the issue of out‐of‐school children (OOSC) in Nigeria are scarce. With an alarming 20 million children not attending primary and secondary schools, a thorough scholarly evaluation of this pressing issue is urgently needed.Why the new findings matter: By highlighting key issues such as government commitment, household economy and insecurity as factors influencing OOSC rates, this study offers actionable recommendations to both the private and public sectors on how to effectively reduce the number of out‐of‐school children in line with the sustainable development goals (particularly, SDG4).Implications for policy makers, researchers and the general public: The findings of this study will assist policy makers (government bodies, schools and interested development partners) in developing strategies to tackle the issue of OOSC in Nigeria. It will help improve the design of policies and techniques to address the barriers to education access. Furthermore, it provides the foundation for future research and sensitises the general public to join hands in the advocacy for educational equity.

Crude Price Changes and Nigeria’s Foreign Reserves, 2008-2023

The study investigated the correlational association between crude price and foreign reserves using the Nigerian economy as the jurisdiction of interest. The study covered the period 2008 to 2023 representing a 25year period. Bivariate pairwise correlational matrix was used to find that a highly significant positive linear association exists between crude price and foreign reserves. Following the findings arising from this study, it is recommended that the country should take advantage of crude price movement in building its foreign reserves given that increase in crude price will likely lead to a rise in revenue from crude sale. A high foreign reserve can act as stabilization fund for exchange rate, debt management and other shocks from international financial flows. Building foreign reserves can be beneficial in managing such exposures to the advantage of the Nigerian economy.