Industrial financing organizations have undergone a structural transformation during the last three decades in most developing countries. In this process of transformation, industrial development banks have emerged as catalytic agent of industrial and economic growth. This work is aimed at examining the contribution of the Bank of Industry (BOI) to the industrial development of Nigeria. Industrialization is regarded by the government as a sine qua non for National effort to achieve the degree of... read more

Since exportation has a special share in the economic growth of many advanced and developing countries; as far as making those countries as the strongest countries, the effective factors; in turn, could pave way for progress of countries, particularly the developing countries. Since increase or decrease in currency exchange rate leads to the decrease or increase in export. Nigeria is endowed with various kinds of resources needed to place her amongst the top emerging economies of the World. U... read more

This work is based on the appraisal of budget deficit and current account balance in the Nigeria economy between the periods of 1986-2010. The broad objectives of the study isto examine the impact of budget deficit and current account balance in the Nigeria economy, trend of budget deficit and current account balance and also the impact of selected macroeconomic variables on the current account. The potency of budget deficit in improving current account balance in Nigeria need to be emphasized u... read more

It has been proved by various countries (especially developing countries) that government expenditure in one way or the other has contributed a large quota on economic growth and development. Thus, government expenditure is the sole duty or responsibility of any country practicing mixed or socialist economic system. Crude oil is a publicly traded commodity, its price is determined in the commodity market through the interaction of demand and supply worldwide and it constantly fluctuates. Chan... 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

Globalization remain one of most controversial issue of our time, its implications range from trade and investment flow interest economist, to the ease with which we take to people all over the would, ease of travel, the ease with which we can see and hear view and event, around the would. The most striking aspect of globalization has been the growing interdependence of countries resulting from their increased economic integration via trade, foreign investment, foreign and international integrat... read more

The inefficient utilization of resources and financial mismanagement of most of the public enterprises over the years has resulted in a very weak balance sheet, excessive debt and in most cases negative network. Furthermore, the fact that this indolent performance of the state in the administration of public business enterprises creates a solution in which national fund that would have been better spent to guarantee new economic activity and employment opportunities for the army of unemplo... read more

With the environment of domestic and foreign policies narrowing towards a common international economic order induced globalization, foreign direct investment and now represent a major form of cross border resources flow among countries. More than before, more firms, in numerous industries and in many countries are expanding abroad through foreign direct investment (either private or portfolio). The magnitude of foreign direct investment (FDI) with the past few years has compelled discussions as... read more

The early 1980s drove home a truth which had been emerging in the 1970s that the world economy was becoming increasingly unstable. The combined effects of the second oil shock, an associated recession in OECD countries, a prolonged slump in real commodity prices, the outbreak of debt crisis with all its consequences for developing economies access to world saving and the erosion by non-tariff barriers of previous trade liberalization put the balance of payment of many developing countries under ... 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

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

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

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

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

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

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

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

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

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

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