The structure of the Nigerian economy is typically of an underdeveloped country. Over half of the Gross Domestic Product (GDP) is accounted for by the sector with agriculture continuing to play an important role. The oil and gas sector in particular continues to be a major driver of the economy, accounting for over 95% of export earnings and about 85% of government revenue between 2011 and 2012. The sector contributed 14.81 and 13.8% to GDP in 2011 and 2012, respectively. It also recorded an inc... read more

Monetary Policy refers to the specific actions taken by the Central Bank (Monetary Authority) to regulate the value, supply and cost of money in the economy with a view to achieving predetermine macroeconomic goals. The Central Bank of Nigeria, like other central banks in developing countries, seeks to achieve price stability through the management of money supply. Money supply comprises narrow and broad money. The economy of Nigeria had a lot of structural distortions in the 1980’s. The econo... read more

This study, the role of small and medium sized enterprises for economic growth, was undertaken to find out how SME sub-sector in Nigeria has performed and its impact on the economic growth of the country. Small and Medium Scale Enterprises (SMEs) is accepted globally as a tool for empowering the citizenry and economic growth. It has been associated with the rapid economic growth of countries in Asia and North America. In Nigeria efforts have been made by successive governments to reduce pover... read more

While in theory the nexus between FDI and growth (in terms of output and productivity) is in general positive, the empirical literature is far less conclusive. Some studies find positive effects from outward FDI for the investing country (Van Pottelsberghe and Lichtenberg, 2001; Nachum et al., 2000), but suggest a potential negative impact from inward FDI on the host country. This results from a possible decrease in indigenous innovative capacity or crowding out of domestic firms or domestic inv... read more

The relationship between globalization and financial development has been a subject of considerable interest to development economists in recent years. The concept of globalization, which is the great economic event of our era, is not of recent birth but a concept, which has been in the economic literature from the outset of time. Globalization is the process of increasing integration of national economies with the rest of the world to create a more coherent global economy. Globalization is the ... read more

In Nigeria, the ability of the financial sub sector has been periodically punctuated by its vulnerability to systematic distress and macroeconomic volatility and policy fine-tuning inevitability which has worsen its contributions to the nations’ growth and development. Siyan and Obi(2003) stressed that the “ability of the banking sector to play its fundamental roles in the growth and development of an economy through its financial intermediation function which is perhaps the most importan... read more

A high pricing of petroleum products is never welcomed by the general populace. Yet in Nigeria where petroleum products are regulated, the government has always allowed the prices of refined petroleum products to rise, and is prepared to continue doing so. The study examines an aspect of Nigeria’s energy policy that can have appreciable effects on its poverty alleviation drive: the pricing and subsidizing of petroleum products. Nigeria is rich but its people are poor [World Bank, (1996)]. This... read more

Nigeria as a developing nation has been faced with a lot of problems, such as inadequate healthcare, poverty, illiteracy, unemployment, poor infrastructure and over reliance on oil, crime, corruption, poor macro- economic management, political instability etc. These are undoubtedly a challenge to the educational system. National Diploma (ND) programme, which are offered in tertiary level of education in the country, are designed among other goals to; a. Produce highly mot... read more

The Nigeria economy has witnessed a great degree of instability ever since the end of Civil War. From 2.48824 to 1.24414 grains of fine gold following the exchange of the Nigerian Pound to Naira in 1973, fixed exchange rates were establish for both Pound sterling and the US Dollar at £0.5833 and US 1.5200 respectively to N1.00 this has caused havoc to the Nigerian economy in that exchange rate the Naira to both Dollar and Pound sterling has been observed that the economy has it also been witnes... read more

The relationship between stock prices and exchange rate has attracted much attention amongst financial expert, researchers and policy makers in Nigeria since the inception of the Structural Adjustment Programme (SAP) in 1986. The period witnessed significant changes in the Nigerian financial system, such as the emergence of new equity markets in terms of liberalization policy. This era saw the abolishment of trade barriers on capital flows and adoption of flexible exchange rate, which subsequent... read more

The role of institutional quality in sustainable development has received tremendous attention in recent time and it has been a central issue in development policies of many nations to orchestrate an insurmountable institution because of its critical position in the development of financial system and stock market in particular. Institution plays a pivotal role in promoting the enactment of rules and regulations, for proper surveillance of political, social and economic activities globally. Furt... read more

The management of the economy is a major concern of governments all over the world. Governments of countries feel compelled to ensure, through appropriate policies that their economies are managed to achieve desirable macroeconomic objectives. These objectives include: price stability; economic growth; full employment; and balance of payments equilibrium. The achievement of stable prices and attainment of sustainable economic growth had been the central objectives of macroeconomic policies for m... read more

It is important to understand budget deficit and its impact on the economic growth in Nigeria. The argument over the involvement of government in running the economic affairs of a country was put to rest by a renowned British economist, John Maynard Keynes. Before Keynes, emphasis had been placed on the concept of æthe invisible handÆ where the economy is self adjusting. The role of the government as embodied in its fiscal operations in determining aggregate demand, income, prices and more re... read more

The Nigerian economy has remained largely underdeveloped despite the huge human and natural resources. The country is richly endowed with various mineral types all over the country. Huge amount is generated annually from petroleum products. More than 40 types of solid minerals have been identified in over 500 locations in the country Musa(2010). Yet the per capita income is low, unemployment and inflation rates are high. There are many socio-economic challenges. The economy has continued to witn... read more

One of the ways taken by all economy to make the banking sector effective is the use of the monetary policy introduced by the federal government and carried out by the apex bank of the country. Apparently, the existence of an effective banking industry is vital to every economy and it encourages economic growth and development via its role in financial interdiction of funds supplies to deficit economic units .This stimulates international trade, investment economic growth as well employment gro... read more

The financial system is a collection of various institutions, markets, instruments and operators that interact within an economy to provide financial services. The services provided include resource mobilization and allocation, financial intermediation and foreign exchange transactions. The Nigeria financial system can be categorized into two viz; the formal or organized and informal or unorganized financial system. The informal sector comprises of local money lenders (ESUSU), the thrifts and sa... read more

Prominent among the obstacles facing the performance of manufacturing sector in Nigeria is the lack of effectively bank credits to the manufacturing sector of the economy. The banks especially the commercial ones have not been contributing effectively to the output of manufacturing sector of the economy. This study takes into cognizance the problems of manufacturing sector in Nigeria. Beside; it looks into the various economic effects of inefficiency of bank credits to the manufacturing secto... read more

Primarily, a stock market is the place where companies can raise money to make their businesses bigger and better. Companies raise money by selling shares or stocks to investors. At the same time, the stock market gives investors an opportunity to invest in these companies and benefit from any profit they can make. A stock market can also be called a capital or securities market as it encompasses the stock exchange, the branches, and the stockbrokers. An organized securities market requires a... read more

Investors’ decisions and actions globally are influenced significantly by the dictates of self-interest which suggests that capital, not only be channeled to high-yielding economic sectors but also to those that are ostensibly quick yielding economies. On balance therefore investors would spun profitable opportunities characterized by extreme competitions, market glut, unfavorable regulation, long gestation periods and opt instead for investments that yield high returns within the shortest tim... read more

Protection in form of tariff and free trade have long been argued in economic theory and economic history. However , it is possible to say that the precise relationship between trade barriers in form of tariff or free trade in the long run economic growth remains a difficult theoretical issue that is being explored in a variety of ways. Simithian and Ricardian conclusion reinforced by the Hercscher-ohlin theorem recommend free trade ... read more