Rate In Nigeria Research Articles

Crude Oil Price, Interest Rate and Unemployment Nexus in Nigeria: An Application of Toda and Yamamoto Long-Run Causality Procedure

This study aims to examine the relationship between crude oil price, interest rate and theunemployment rate in Nigeria using times series data for the 1991-2019 periods. Thestationarity property of the series was examined using Augmented Dickey and Fuller(1979) and Elliot, Rothenberg and Stock’s (1996) unit root test. The outcomes ofAugmented Dickey and Fuller indicated a mixture of an order of integration among theseries while Elliot et al.’s (1996) unit root test revealed that all the series are stationary atthe first difference and therefore are said to integrate of order one. The Toda andYamamoto long-run granger causality indicated that one-way causality exists flowingfrom crude oil price to unemployment rate, unemployment rate to interest rate, populationgrowth to the unemployment rate, crude oil price to interest rate and population growthto interest rate alongside two-way causality flowing from population growth to crude oilprice. Therefore, based on the empirical outcomes we recommended that labour will serveas an efficient substituting factor of production for energy and capital in the case of theNigerian economy and Nigerian government should develop both industrial and noncrude oil sectors to create employment opportunities for the unemployed teemingpopulation as well as increasing the country’s export.

Impact of International Remittances on Unemployment in Nigeria

Despite the implementation of stabilization measures during the present recession in Nigeria, unemployment has assumed an alarming dimension and a crisis proportion with millions of able-bodied persons who are to accept jobs at the prevailing wage rate but are unable to find placements. Unemployment can be reduced in developing countries through developmental projects but this can be achieved due to lack of finance. Sequel to that, remittance inflow serves as finance for investment purposes. This study focuses on the impact of international migrant remittances on unemployment rate in Nigeria bearing in mind that reducing the rate of unemployment is one of the macroeconomic objectives of every country. An unemployment rate model was formulated and the unit root test was first applied to the data set. The time series were stationary and the two-stage least squares (2SLS) method was used to identify the impact of remittances on unemployment rate in Nigeria. Findings reveal that international remittances affect unemployment negatively and there exists a unidirectional causality between international migrant remittances and unemployment without feedback. The study recommends that the government and other stakeholder should map out programmes that will sensitize majority of the Nigerian populace on the benefit of investing remittance money so as to become entrepreneurs, create job opportunities and become employers of labour. Keywords: International remittances, Private Investment, Unemployment, Two Stage Least Squares. DOI: 10.7176/JESD/12-1-05 Publication date: January 31 st 2021

Impact of economic condition on crime rate in Nigeria

Impact of economic condition on crime rate in Nigeria

Central Banks’ Response to Inflation, Output Gap, and Exchange Rate in Nigeria and South Africa

In Africa, a number of countries like South Africa have adopted inflation targeting. In Nigeria, different monetary policy regimes have been adopted over the years with rather unsatisfactory succes...

Treasury single account (TSA) and banks lending rates in Nigeria

Treasury single account (TSA) and banks lending rates in Nigeria

Impact of money supply onexchange rate in Nigeria: (1980-2011)

The paper examines the impact of money supply in determining the exchange rate of the currency with respect to fixed and flexible exchange rate policies in Nigeria. Time series data, sourced from Central Bank of Nigeria (CBN) was used. Money supply (MS) was decomposed to include Narrow Money Supply (M1), quasi money (Qm) and Broad Money Supply (M2). Econometric analysis based on the least squares procedure was conducted using E-View Version 7. Descriptive analysis was also carried out. It was found from the study that periods of floating exchange rate policy have influenced exchange rate positively even to a great extent and that quasi money showed a negative and significant sign on exchange rate, while narrow money exhibits a positive sign. Broad money supply indicates that expansionary monetary policy tends to diminish the Naira/ Dollar value. It is therefore recommended among others, that the Nigerian financial market in general and money market in particular should be strengthened in both depth and breath. The available money outside the banking system should be properly channelled for productive purposes in order to achieve the desired stability in the naira exchange rate and by extension growth in the Nigerian economy.

Treasury single account (TSA) and banks' lending rates in Nigeria

Treasury single account (TSA) and banks' lending rates in Nigeria

Monetary Policy and Deposit Money Banks’ Lending Rates in Nigeria

Monetary Policy and Deposit Money Banks’ Lending Rates in Nigeria

Impact of Unemployment, Inflation and Households Consumption on Economic Growth

The challenges imposed by the rising cases of unemployment, inflationary rate and less purchasing power in households have stirred considerable interest amongst researchers and actors in contemporary times in designing agreeable mechanism that engenders economic growth. This paper examined the impact of unemployment, inflation and household’s consumption on economic growth for 1960 to 2018. OLS estimation technique was adopted. From the findings, unemployment, inflation and household’s consumption impacted on economic growth. But it was observed that inflation (INF) significantly influence economic growth in Nigeria. However, controlling for the influence of consumer price index (CPI), we observed that it is a key determinant of economic growth. The study therefore recommends for efficient and effective policy mix that may monitor the inflation rate in Nigeria.

Hodgkin Lymphoma in Nigeria: Prevalence, Mechanisms of Tumorigenesis and Diagnosis

Hodgkin lymphoma (HL) is an uncommon neoplasm where tumor stems from a certain kind of leukocytes known as B-cell. This lymphoid malignancy involves outlying lymph gland which may extend to tissues. Research estimates 40% of patients are diagnosed from constitutive signs while early detection is a challenge. The Hodgkin Reed-Stenberg cells is established as the hallmark of Hodgkin lymphoma but multiple underlying mechanisms are involved. Hodgkin lymphoma spreads across different regions with limitations of effective control, hence there is a need to fully understand its tumorigenesis and diagnosis. We reviewed the multiphase deregulated signalling pathways and several interactions amongst cells, these characteristics can proffer new breakthrough to target therapeutics either through direct inhibition of affected signalling pathways or Hodgkin Reed-Stenberg cells associated with diverse cellular infiltrates within the lymph cell. HL incidence in Nigeria is similar to the incidence in other regions but there is a higher death rate in Nigeria. Nigeria bears the second highest burden of HIV globally which contributes to incidence of HL. Also, Epstein-Barr virus increases the risk of the disease, which is also prevalent in Nigeria. Lymphomas are associated with higher cancer-related deaths especially in HIV-infected persons with 2.5times lower 2-year survival chance compared to HIV-uninfected persons and late stage of lymphoma was also a contributing factor to the survival outcomes. Hence, to reduce the burden of the disease, an understanding of the aetiology, epidemiology, and biochemical mechanisms of the lymphoma is needed which are herein reviewed.

Government Fiscal Health, Family Planning and Poverty Rate in Nigeria

Nigeria. Previous studies failed to link health expenditure appropriately to family planning and poverty alleviation in Nigeria. This study addresses this theoretical gap by employing the vector error correction mechanism (VECM) in analysing the interrelationship between government fiscal health, family planning and poverty rate in Nigeria by employing time series data from1977 to 2019. The data were tested for stationarity and found to be statistically significant at 0.05 level of significance. The result of the VECM showed that GDPP, SGHE, POVR and MMORR significantly explain 44.49% variation in family planning, while the ECM coefficient indicates a speed of adjustment of 5.372%; and it is statistically significant. The FEVD of family planning (FP) indicated that the variability of the SGHE was also rising between 0.193528% in the second period to 2.811% in the tenth period. The variability in POVR accounted for 1.008% of the variation in FP in the second period. The variation in poverty rate fell relatively over the forecast horizon such that at the tenth period it was 1.888%. The study concluded that the government’s fiscal health expenditure has a positive but insignificant impact on FP, but a negative impact on POVR and MMORR in Nigeria. It is recommended that the government should increase its fiscal health expenditure significantly. This can be achieved via an increase in the budgetary allocation for the health sector.

PUBLIC EXTERNAL DEBT AND ITS IMPACT ON EXCHANGE RATE IN NIGERIA

The study is an attempt to empirically examine the impact of public external debt on exchange rate in Nigeria. The nature of data for this study is secondary data and the major source of data is the Statistical Bulletin published annually by the Central Bank of Nigeria (CBN) December, 2018.The study used Ordinary Least Squares (OLS) and Error Correction Model (ECM) tools of analysis in the investigation of the impact and relationship among the economic variables. The long and short run results confirmed that public external debt has impact on exchange rate in Nigeria. However, based on the probability value at the short run all independent variables were statistically significant in explaining variation in Exchange Rate in Nigeria except Foreign Reserve in Nigeria (FRN) at 5 percent level of significance. While, at the long run the External Debt in Nigeria (EXDTN), Debt Service Payment in Nigeria (DSPN) and Foreign Reserve in Nigeria (FRN) Foreign Reserve in Nigeria (FRN) was statistically significant in explaining the variation in Exchange Rate in Nigeria (EXCHR) at 5 percent level of significance. Therefore, the study recommends that Government should increase the mechanism to check and control the allocation and implementation of public funds in Nigeria to reduce deficit budget and exchange rate in Nigeria.

Analysis of the influence of interest rate on money supply and investment in Nigeria: a vector error correction model (VECM) approach

The research analyzed the influence of interest rate on money supply and investment in Nigeria. It specifically analyzed the influence of working capital, return on investment, earning per share and gross operating profit on interest rate in Nigeria. Data was extracted from the Annual financial report of a manufacturing company using both descriptive research method and covariance while Autoregressive Distributed Lag Model (ARDL) and Vector Error Correction Model (VECM) were used to analyze the relationship which exist among the variables. The result of the findings showed that there is cointegration which implies aa long run relationship among the variables. The result revealed that Earning Per Share (EPS) had no significant impact on interest rate manufacturing firms in Nigeria. Furthermore, the result depicted that gross operating profit has a significant and positive impact on interest rate of manufacturing firms in Nigeria. The research recommends that financial managers increase their money supply and ensure that it is properly managed in order to enhance their investment, thus strengthening firm profitability. Furthermore, we suggest that financial managers should increase investment in working capital to accelerate their productivity so that they can also improve the profitability of the firms.

Trends in and determinants of neonatal and infant mortality in Nigeria based on Demographic and Health Survey data.

This study aimed to assess the changes in neonatal and infant mortality rates in Nigeria over the period 1990 to 2018 using Nigerian Demographic and Health Survey (NDHS) data, and assess their socio-demographic determinants using data from the most recent survey conducted in 2018. The infant mortality rate was 87 per 1000 live births in 1990, and this increased to 100 per 1000 live births in 2003 - an increase of around 15% over 13 years. Neonatal and infant mortality rates started to decline steadily thereafter and continued to do so until 2013. After 2013, neonatal morality rose slightly by the year 2018. Information for 27,465 infants under 1 year of age from the NDHS-2018 was analysed using bivariate and multivariate analysis and the Cox proportional hazard technique. In 2018, infant deaths decreased as wealth increased, and the incidence of infant deaths was greater among those of Islam religion than among those of other religions. A negative association was found between infant deaths and the size of a child at birth. Infant mortality was higher in rural than in urban areas, and was higher among male than female children. Both neonatal and infant death rates varied by region and were found to be highest in the North West region and lowest in the South region. An increasing trend was observed in neonatal mortality in the 5-year period from 2013 to 2018. Policy interventions should be focused on the poor classes, women with a birth interval of less than 2 years and those living in the North West region of the country.

Social network-based measurement of abortion incidence: promising findings from population-based surveys in Nigeria, Cote d\u2019Ivoire, and Rajasthan, India

BackgroundMonitoring abortion rates is highly relevant for demographic and public health considerations, yet its reliable estimation is fraught with uncertainty due to lack of complete national health facility service statistics and bias in self-reported survey data. In this study, we aim to test the confidante methodology for estimating abortion incidence rates in Nigeria, Cote d’Ivoire, and Rajasthan, India, and develop methods to adjust for violations of assumptions.MethodsIn population-based surveys in each setting, female respondents of reproductive age reported separately on their two closest confidantes’ experience with abortion, in addition to reporting about their own experiences. We used descriptive analyses and design-based F tests to test for violations of method assumptions. Using post hoc analytical techniques, we corrected for biases in the confidante sample to improve the validity and precision of the abortion incidence estimates produced from these data.ResultsResults indicate incomplete transmission of confidante abortion knowledge, a biased confidante sample, but reduced social desirability bias when reporting on confidantes' abortion incidences once adjust for assumption violations. The extent to which the assumptions were met differed across the three contexts. The respondent 1-year pregnancy removal rate was 18.7 (95% confidence interval (CI) 14.9–22.5) abortions per 1000 women of reproductive age in Nigeria, 18.8 (95% CI 11.8–25.8) in Cote d’Ivoire, and 7.0 (95% CI 4.6–9.5) in India. The 1-year adjusted abortion incidence rates for the first confidantes were 35.1 (95% CI 31.1–39.1) in Nigeria, 31.5 (95% CI 24.8–38.1) in Cote d’Ivoire, and 15.2 (95% CI 6.1–24.4) in Rajasthan, India. Confidante two’s rates were closer to confidante one incidences than respondent incidences. The adjusted confidante one and two incidence estimates were significantly higher than respondent incidences in all three countries.ConclusionsFindings suggest that the confidante approach may present an opportunity to address some abortion-related data deficiencies but require modeling approaches to correct for biases due to violations of social network-based method assumptions. The performance of these methodologies varied based on geographical and social context, indicating that performance may be better in settings where abortion is legally and socially restricted.

Exchange Rate Fluctuations and Sectoral Performance of the Nigerian Economy (1980- 2016)

The structure of Nigerian economy has changed considerably over the years. The economy is classified into five interrelated sectors; the agriculture, Industry, construction, trade and services (CBN 2016). Some of these sectors have contributed to the national output and government revenue at different point in time. Different exchange rate regimes implemented in the country have had varying degrees of impact on the performance of the economic sectors. Depending on the foreign exchange component of inputs into the various sectors and the export earning potential of each sector, sectoral performance has shown high level of sensitivity to exchange rate fluctuations. Fluctuations in exchange rate affect the cost of production in the various sectors of the economy. It is, therefore, not surprising that exchange rate is among the most watched, analysed and government manipulated macroeconomic indicator as it plays a vital role in a country’s level of trade, which is critical for every free market economy in the world. This paper is a review of the performance of the Nigerian economy in the light of the volatility of exchange rates in Nigeria.

OIL PRICE FLUCTUATIONS AND EXCHANGE RATE IN SELECTED SUB-SAHARAN AFRICA COUNTRIES: A VECTOR ERROR CORRECTION MODEL APPROACH

This study employs the Johansen cointegration and the vector error correction model (VECM) to assess the dynamic relationship that exists between oil price fluctuations and the real exchange rate in selected Sub-Saharan Africa countries from January 2004 to December 2017. The result of the monthly data analysis provides evidence to support a cointegration between oil prices and the real exchange rate in sub-Saharan oil dependent nations. The results of the study established a long-run equilibrium connection between fluctuations in oil price and the real exchange rate. Importantly, the study demonstrates the significant power of oil prices to predict the movement of real exchange rates in Nigeria, Angola, the Republic of Congo, Equatorial Guinea and Gabon. This study has implications not only for investors and industry leaders but also for policymakers responsible for the growth and stability of the economy. The results of this study also attest to the need for urgent economic diversification to other sectors of the economy both to reduce the negative influence of oil price fluctuations and to boost economic growth.Keywords: Oil price; Exchange rates; Sub-Sahara; Cointegration; EconomyJEL Classifications: C32, F31, F32, F41, Q43DOI: https://doi.org/10.32479/ijeep.9822

Agricultural Financing and Unemployment Rate in Nigeria: A Cointegration Approach

Abstract In Nigeria, the level of agricultural productivity and farmers’ income have been affected by inadequate financing, which invariably discourages job creation and increases unemployment rate. Therefore, the study examines the impact of agricultural financing on unemployment rate in Nigeria, using time series data collected from the Central Bank of Nigeria (CBN) and the World Bank database from 1981 to 2018. Using Johansen’s cointegration, Error Correction Method (ECM), and Granger causality analytical techniques, our findings show that AGRIC_GDP, AGRICL_TL, GR, LR, and RUTP have a long-run relationship with UNEMPR and are statistically significant. Also, the ECM of about 57%, which is statistically significant, provides an indication of a satisfactory speed of adjustment and translates that about 57 percent of the errors are corrected in each period. The study recommends among others that government policy on agricultural credit should place more emphasis on strengthening banks’ commitment.

Implications of Free Trade Area For Poverty, Household Welfare And Economic Development In Nigeria

Purpose of the study: The study aims to investigate the implications of free trade areas for poverty, household welfare and economic development in Nigeria. Methodology: This study employed a fully modified least squares (FMOLS) regression technique. The income per capita and unemployment out of many macroeconomics indexes were employed in this study to measure welfare and poverty implications of free trade area respectively. To enable the study, determine the policy and decision-making implications of the free trade area on Nigeria economy, historical data were drawn from the central bank statistical bulletin for 27 years. Main findings: The estimated results revealed that the income per capita (welfare) model demonstrated a fair view of free trade scenarios as indicated by the explanatory variables; export contributions to gross domestic product and foreign direct investment contributed positively to the welfare of the individual. Besides, the study also found foreign direct investment and export contributions to gross domestic product to have a negative relationship with unemployment, which implies a reduction in the unemployment rate in Nigeria. Research implications: This study documented that households’ welfare will be increased by free trade area, while unemployment will also be reduced by participating in free trade area. Based on study findings, policies makers, academia, researchers, the and government will find the study relevant in making policies that promote foreign direct investment, export contributions to the growth of the economy and gross domestic product such as reduction in tariff, simplifying trade regulations, increasing the availability of credit to exporters, creations of duty drawback, improving cooperation among economic actors and overall structural changes which will have positive implications on the households welfare, poverty and economic development. The novelty of the study: The relevance for free trade area as one among economic policies to promote the welfare and reduce poverty among nations is gaining momentum globally especially African continent. Given the paucity of studies on this area, the study is undertaken as a framework to determine what the implications of free trade areas will be among the African continent.

Identifying Perceived Barriers to Human Papillomavirus Vaccination as a Preventative Strategy for Cervical Cancer in Nigeria.

Background:Cervical cancer deaths are disproportionately higher in developing countries depicting one of the most profound health disparities existing today and is ranked as the second most frequent cancer among women in Nigeria. The Human Papillomavirus (HPV) vaccine as a primary prevention strategy is not widely used in Nigeria. This study investigated perceived barriers to HPV vaccination in a Nigerian community, targeting health workers’ perceptions.Methods:This descriptive study captured responses from a cross-sectional, convenience sample of adult health workers within Anambra State, Nigeria. An anonymous 42-item survey with multiple validated scales was developed based on the Theory of Planned Behavior model and previous studies. The self-administered survey was distributed by research assistants at study sites within Anambra State which were identified through local constituents by the regional zones Adazi-Ani, Onitsha, and Awka. Data analyses were performed using Microsoft Excel for descriptive statistics and R software for the logistic regression, with a statistical significance level of 5%. Subgroup analysis was performed for the baseline knowledge questionnaire to determine if there were any differences in correct responses based on demographics such as: Institution type, profession, age, sex, religion and parental status.Results:Responses were collected from 137 Nigerian health workers; 44% nurses, 14% physicians, 6% pharmacists and 31% other health workers. The majority of respondents were female (69%), between 18 and 39 years of age (78%), from urban settings (82%), and identified as having Christian religious beliefs (97%). The most significant barriers identified were lack of awareness (39%), vaccine availability (39%), and cost (13%). When asked baseline knowledge questions regarding HPV, females were more likely to answer incorrectly as compared to males. Significant differences were found for statements: (1) HPV is sexually transmitted (p = 0.008) and (2) HPV is an infection that only affects women (p = 0.004).Conclusions:Perceived barriers to HPV vaccination identified by Nigerian health workers include lack of awareness, vaccine availability/accessibility, cost, and concerns about acceptability. Ongoing efforts to subsidize vaccine costs, campaigns to increase awareness of HPV vaccine, and interventions to improve attainability could advance administration rates in Nigeria, and ultimately improve death rates due to cervical cancer in this population.