Arguably telecommunication industry is today the fastest growing industry in Nigeria. The industry has remain a major driver of innovation and transfer of technology to Nigeria economy. The mobile telecommunications industry has grown rapidly over the last three decades representing one of the most intriguing stories of technology diffusion. Since 2002 mobile subscribers have exceeded the number of fixed lines globally. The process to achieve what fixed phones have struggled for more than 120 ye... read more

Nigeria industrial sector has been impacted significantly by the wage of oil price volatility. During the period of high oil price in the international market, government increase expenditure in the industrial sector to increase capacity building in the sector and position the sector to provide more job opportunity to the masses. Industrial development has not really been successful in Nigeria. This is because industrial development involves extensive technology-based development of the produ... read more

Industrial sector plays a crucial role in the development of modern economy the world over. Industrial sector as a sub-sector of the industrial sector refers to the productions of goods and services through combined utilization of raw materials and other production factors such as labor force, land and capital or by means of production process. In advanced economies, the industrial sector is a leading sector in many respects. It is an avenue for increasing productivity related to import replacem... read more

Undoubtedly, parts of the macroeconomic goals which the government strives to achieve are the maintenance of stable domestic price level and full-employment. Macroeconomic performance is judged by three broad measures- unemployment rate, inflation rate, and the growth rate of output (Ugwuanyi, 2004). Since the advent of economic recession in Nigeria, the economy continues to break records on the downside. Inflation was at 18.63 percent being the highest in 11 years. Foreign reserves currently... read more

The effect of health on worker‘s productivity suggests a relationship between health and aggregate output. Healthy workers lose less time from work due to ill health and are more productive when working. Health gains had the economic consequences of widespread economic growth and an escape of ill-health traps in poverty (World Health Organization, 1999). There has been a growing interest to extend the relationship between health and economic growth, catalyzed in considerable extent by a 1993 W... read more

The role of financial intermediation has been exemplified in numerous literatures of finance. Besides the performance of specialized tasks, several theoretical models posit that they mitigate the costs associated with information acquisition and the conduct of financial transactions (Benston and Smith, Jr; 1975). In addition to these, several studies have revealed that financial intermediation does more than cost mitigation. It makes provision for insurances and risk sharing, stimulates the fund... read more

The present economic recession being experienced in the country today was first experienced in 1974 (Professor Ango Abdullahi, 2016). He stressed that Nigeria was far behind many countries, not only among the developed nations, but even among the African countries. Nigeria began to experience abject poverty since the vision of the founding fathers was neglected by their successors. “Nigeria is one of the poorest countries in the world; Nigerians could not afford to earn N500 in a day. We... read more

Increase in prices of consumable goods and basic necessities of life due to inflation, unemployment, and low GDP creates a pre-recessionary situation which slowly and gradually affects the buying behavior of consumer of every market. Any nation going through the period of recession faces not only an internal resistance from its business sector and but also an external pressure from foreign bodies too. It becomes almost impossible for low income family to fulfill their basic requirements of daily... read more

Industrial development, particularly the promotion of manufacturing sectors, has been the basic driving force for a relatively high economic growth of both developed and developing countries of the world. In viewing the contribution of the manufacturing sector to the growth of the gross domestic product of some selected countries (IMF 2001), pointed out that the long term growth rate of the manufacturing value added in china was 10.7% and it increased to 14.7% during the period of 1990-1998. The... read more

Banks are critically important and useful to the economic growth and development of every nation. This explains why each country seeks to take far reaching steps to forestall or to remedy bank distress and failure. A viable and profitable banking system provides a formidable bulwark for economic growth, which in turn provides a healthy environment for banks to thrive and be successful. According to Ehikmeaku (1998), a well developed and stable banking system is a si... read more

Monetary policy as defined by Anyanwu (1993) involves measures designed to control the volume, cost, availability and direction of money and credit in an economy to achieve some specified macroeconomic policy objectives. It also refers to the policy of monetary authority of a country with regard to monetary matters. It may be defined as the policy that deals with; (a) The control of financial institutions (b) Active purchases and sales of paper asset by the monetar... read more

Nigeria became politically independent in October 1960, agriculture was the dominant sector of the economy, contributing about 70% of the Gross Domestic Product (G.D.P), employing about the same percentage of the working population and accounting for about 90% of foreign exchange earnings and the federal government revenue (C.B.N 2005).The early period of post independence up until the mid 1970’s saw a rapid growth of industrial capacity and output as the contribution of the manufacturing sect... read more

Manufacturing sector plays a catalytic role in a modern economy and has many dynamic benefits crucial for economic transformation. In typical advanced countries, the manufacturing sector is leading, sector in many respects. It is an avenue for increasing productivity related to import replacement and export expansion, creating foreign exchange earning capacity; and raising employment and per capital income which causes unique consumption patterns. Furthermore, it creates investment capital at a ... read more

Foreign direct investment (FDI) is the acquisition by residents of a country of real assets abroad. This may be done by remitting money abroad to be spent on acquiring land, constructing buildings, mines or machinery, of buying existing foreign businesses. Inward foreign direct investment (FDI) similarly is acquisition by non-residents of real assets within a country. Once a country has real assets abroad, if these make profits which are ploughed back into expanding enterprises, this should idea... read more

Unemployment is generally agreed to be a symptom of macroeconomic illness which could be “Voluntary” or “involuntary “. When it is said to be voluntary, one means a condition where somebody chooses not to work because they have means of support other than employment. Example of such is an Idle rich man. On the other hand, involuntary unemployment exist when one is willing to work and able to work at the prevailing rate of pay but unable to find work (Anyanwu 1995). Base on this, unemp... read more

Commercial banks are financial institutions that deal with money and credit and also receive deposits from the public and organizations; some of which are repayable on demand by cheque. Commercial banks are public limited companies owned by shareholders. They operate in commercial basis, that is, they are out to maximize profits by trading in money. They differ from other banking financial institutions because they honour cheques drawn by their customers on their demand deposit. The role of c... read more

Prior to the discovery and exploration of crude oil in Nigeria, the Nigeria economy was highly dependent on the agricultural sector in terms of revenue and foreign exchange earnings needed for development, this include, cocoa from the Western and groundnut from the Northern part of the country. Cocoa was contributing about 45% and groundnut 25% to the gross domestic product of the economy. It is remarkable that at this time, Nigeria ranked second only to Ghana then known as the Gold coast in ter... read more

Microfinance has gradually developed to be a worldwide movement, no longer being a subject matter of microfinance practitioners alone. Governments, donors, development agencies, banks, foundations, corporations, business communities, civil societies, researchers, universities, consultants, philanthropists and others are taking an increasing interest in it (Sale Huddin and Hukinil, 2004). The increasing level of acceptance of microfinance among the various groups of stakeholders wor... read more

The industrial sector remains a strong and vibrant sector of the economy and an integral part of development, structural change and self sufficiency; playing a vital role in the economic growth and development of any given nation. The development of the industrial sector would therefore, also mean or translate into the development of the economy. Thus, resources have been channeled into this sector through heavy public sector investment, especially import – substitution basic industries, throu... read more

Capital information refers to the proportion of present income saved and invested in order to augment future output and income. It usually results from acquisition of new factory along with machinery, equipment and all productive capital goods. Capital formation is equivalent to an increase in physical capital stock of a nation with investment in social and economic infrastructure. Capital naturally plays an important role in the economic growth and development process. It (capital) has alway... read more