The use of economic policy as tool for economic stabilization by governments of different economies of the world cannot be overemphasized. Some of these policy measures may have economic-wide effect (e.g. the budget and inflation) while others may have specific effects such as the consumption tax on consumer good (Killick, 1981 and Black, Calitz, Steenekamp, Ajam, 2000). Policymakers around the world employ various policies, singly or mix, to stabilize the boom-bust cyclical swings of economic a... read more

Nigeria has a long history of religious conflicts, some of the most virulent being those of the ‘Maitatsine’ (1980s) and ‘Boko Haram’ (July 2009). The latter matched the former in intensity, organization, and spread. Given the international attention to global terrorism, there is the likelihood that fundamentalist group receive motivation, material, and ideological support or influence from a global jihadist movement. Unresolved national issues, including the weak economy, weak security ... read more

The word “Scarcity” means when there is insufficiency of something. Since there is insufficiency of fuel it is termed as fuel scarcity. In the past Nigerians solely depended on the exportation of agricultural product for their source of income. This continued until the discovery of the presences of the presence of oil in our country, especially in part Harcourt. This made them (Nigerians) to divert form Agriculture to the exportation of oil to other countries, which was actually fetching ... read more

Retirement can be seen as the period of time in an employee’s, employment life when he or she has satisfactorily served the organization, that employed year of the contract. This is a period in an employee life when he or she separates from his or her job because of their age. This is also a period when the employee has spent a specified period of time with the employer which qualified the employee to be retired. Usually, employees serve for thirty five years and yet reti... read more

Responsible governments all over the world, be it at the Federal, State or Local government level, are concerned with the provision of social goods and services for their citizens. They are responsible for the maintenance of laws and orders within their nations and also for the protection of their territorial integrity against any external aggression. In carrying out these social responsibilities, a huge amount of money is needed. One of the major sources of fund available to government to... read more

Domestic debt reduction in Nigeria has taken centre stage for conversing realistic pricing of petroleum products in Nigeria as the domestic debt profile has been rising astronomically and if not controlled could create some unfavorable consequences as crowding out private sector investment, poor GDP growth etc,(Okonjo-Iweala,2011). On the other hand, government has to continue to finance projects to grow the economy and one viable option of doing so is by issuing debt instruments. For example, t... read more

The Nigerian petroleum industry has been confronted by two sapping challenges over the years. The challenges relates to the prevalence of militancy and oil pipeline vandalism in the Niger Delta. While the former has significantly attenuated in the aftermath of the Amnesty deal in 2009 (Okoli, 2013), the latter appears to have escalated both in incidence and impact. According to Ogbeni: A total of 16,083 pipeline breaks were recorded within the last 10 years adding that while 398 pipeline b... read more

Oil is a major source of energy in Nigeria and the world in general. Oil being the mainstay of the Nigerian economy plays a vital role in shaping the economic and political destiny of the country. Although Nigeria’s oil industry was founded at the beginning of the century, it was not until the end of the Nigeria civil war (1967 - 1970) that the oil industry began to play a prominent role in the economic life of the country (Fashola, 1999). Oil abundance, and specifically oil dependence has ... read more

Over the years, Multinational corporations (MNCs) have been a source of controversy ever since the East India Company developed the British taste for tea and a Chinese taste for opium (Stopford, 1998). A typical multinational corporation (MNC) normally functions with a headquarters that is based in one country, while other facilities are based in locations in other countries. In some circles, a multinational corporation is referred to as a multinational enterprise (MNE) or a transnational corpor... read more

Information and communication technology (ICT) offers the promise of fundamentally changing the lives of much of the world’s population. In its various forms, ICT affects many of the processes of government and business, how individuals live, work and interact, and the quality of the natural and built environment. The development of internationally comparable ICT statistics is essential for governments to be able to adequately design, implement, monitor and evaluate ICT policies (Madueme, 2010... read more

The growth and stabilization of the Nigerian economy has not been stable over the years as a result, the country’s economy has witnesses so many shocks and disturbances both internally and externally over the decades. Internally, the unstable investment and consumption patterns as well as the improper implementation of public policies, changes in future expectations and the accelerator are some of the factors responsible for it. Similarly, the external factors identified are wars, revolutions,... read more

Scientists and engineers traditionally kept paper logbooks of their experiments and inventions. The need for the logbook is cannot be over emphasized. Scientists need to keep a record of their doings in order to remember and report what has been done. The logbook also gives a means of retracing past experiments and verifying their accountability. Searching logbooks can also determine who the first was to make a new discovery or invention. In most parts of the world, the first to invent rule is u... read more

Development banking is a specialized financial institution, which provides medium and lony –term credit for the creation or expansion of commercial, Agricultural and industrial enterprises of the economy. In Nigeria economy development bank is one among the other secton of development bank in Nigeria economy. 2 To ascertain, if any, the constants hindering development banking from performing its set roles. 3 To assess the level of help or contribution which deve... read more

Debt is created by the act of borrowing. It is defined according to Oyejide et al (1985) as the resource or money in use in an organization which in not contributed by its owner and does not in anyway belong to them. It is a liability represented by a financial instrument or other formal equivalent. In modern law, debt has no precisely fixed meaning and may be regarded essential as that which one person legally owes to another or an obligation that is enforceable by legally action to make paymen... read more

The monetary approach to balance of payments explains the elimination of payments disequilibrium in terms of factors bringing the demand and supply of money into equality. It treats the supply of money as endogenous by assuming a feedback from the balance of payments through changes in international reserve to changes in the monetary liabilities of the central bank and government. One important question of monetary policy is the extent to which the monetary authority of an open economy can a... read more

The word entrepreneur was first used in the early 18th century by an Irish man named Cantillon who was then living in France. The word therefore originated from the French word, entrepreneur, which means to start a business. It was used broadly in connection with the innovative modern individual business leaders. The entrepreneur has been described as the person who perceives business opportunities and takes advantage of the scarce resources to use them. He bears the non-insurable risk in his en... read more

The economy of any country consist of sectors these sectors include industrial transport, agricultural, mineral production, manufacturing sector etc. All sectors of the economy work in an inter-related and inter-dependent whole, therefore any malfunction of one or more sectors of the economy automatically affect the economy as a whole. However, different sectors have different roles in the same economy. This truth also applied to banking sector in the Nigeria economy. Banking sector are... read more

The Central Bank of Nigeria as the Apex Financial institution within the financial structure, consist of commercial banks and the Allied Institution, it’s primarily created to promote monetary stability and sand financial system. The important of the central bank of Nigeria (C.B.N) can be fully appreciated when one understands its dominant role in development of Nigeria Economy. The major role of Central of Nigeria includes:- Issuing or mounting the National currency such as maintaining its... read more

It is a matter of fact that there are a lot of things in which large companies are experts while the small firms can better do some things also. If both, small and large firms do their business in which they get advantage, the welfare of the economy can be maximized and the state of specialization can be attained. When we focus on the impact of small as well as medium firms on the whole economy, it is difficult rather impossible for us to segregate their impacts from the impact of large corporat... read more

Over the years Nigeria has rely on the collection of tax as a major source of revenue for the government. In some selected areas of Nigeria for instance Benue state during the time of crises experienced from election; most of the taxes collected in Benue state were taken to Enugu state. It happens like this some part of Nigeria. Now what is tax? Well tax is certain amount of money realized or successfully collected from an individual or company by the federal government of Nigeria to deve... read more