ADSU International Journal of Applied Economics, Finance and Management
ADSU International Journal of Applied Economics, Finance and Management Overview The ADSU International Journal of Applied Economics, Finance and Management is a premier scholarly publication of the Department of Economics, Adamawa State University, Mubi, that disseminates advanced research and knowledge in the fields of applied economics, finance, and management. The journal caters to a global audience of academicians, researchers, and professionals, aiming to bridge the gap between theory and practice in these interrelated disciplines in order to facilitate economic development. History The journal was initially established in 2016 under the title ADSU Journal of Economics and Interrelated Disciplines. It was founded with the mission to explore and address the diverse aspects of economics and its related fields. Recognizing the evolving scope and the interdisciplinary nature of modern economic studies, the journal rebranded to ADSU Journal of Applied Economics, Finance and Management. This change reflected a more focused commitment to the practical applications of economic theories, financial management practices, and managerial strategies. In its continuous evolution and pursuit of academic excellence, the journal has now attained significant international visibility and prestige, leading to its current title, ADSU International Journal of Applied Economics, Finance and Management. This rebranding marks its established status in the global academic community and its commitment to fostering international collaboration and dissemination of high-impact research. Scope and Aims The ADSU International Journal of Applied Economics, Finance and Management aims to publish original, high-quality research articles, review papers, and case studies. The journal welcomes contributions that offer innovative insights, empirical findings, and theoretical advancements in areas including, but not limited to: Applied Economics: consumer behaviour, production theory, market structures, game theory, labour markets, welfare economics, economic growth, business cycles, inflation, unemployment, fiscal policy, international trade and finance, time-series, panel data analysis forecasting, poverty, inequality, human capital, microfinance, natural resource management, environmental policy, climate change economics, health economics, healthcare systems, health policy, cost-effectiveness analysis, Urban and regional economics, urbanization, regional development, housing, transportation economics, agricultural economics, agricultural policy, rural development, food security, food economics, food policy, supply chains, and nutrition economics. Tourism economics, economic impact of tourism, demand and supply of tourism, tourism policy, sustainable tourism, sport economics, economic impact of sports, sports finance, marketing, and policy. Industrial organization, market structure, competition, antitrust policy, and innovation. Labour economics, labour supply and demand, wage determination, employment, and labour mobility. Public economics, taxation, government spending, public goods, social insurance, and income distribution. International economics focusing on trade theory, policy, exchange rates, and globalization. Political economy covering governance, political behaviour, and institutional economics. Education economics covering the economics of education, policy, and human capital. . Law and economics analysing property rights and contract theory. History of economic thought exploring classical and modern economic theories. Energy economics examining energy markets and policy. Cultural economics covering the economics of arts, culture, and creative industries. Applied finance: Corporate finance including financial strategies, capital structure, dividend policy, and mergers and acquisitions. Investment analysis covering portfolio management, asset valuation, market analysis, and investment strategies. Financial markets research focusing on the functioning, efficiency, and regulation of stock, bond, and derivative markets. Risk management involving the identification, assessment, and mitigation of financial risks. Financial technology (FinTech) analysing technological innovations in finance, such as blockchain, cryptocurrencies, and digital banking. International finance examining exchange rates, global financial markets, international investment strategies, and the impact of global economic events. Behavioural finance exploring psychological factors influencing financial decision-making and market behaviour. Public finance involving taxation, government spending, public debt, and fiscal policy. Real estate finance covering property valuation, real estate investment, mortgage markets, and property management. Insurance and actuarial science focusing on risk assessment, insurance products, and financial planning for future uncertainties. Banking and financial institutions focusing on the role, regulation, and performance of banks and other financial entities. Personal finance involving budgeting, saving, investing, retirement planning, and wealth management. Corporate governance examining the systems, principles, and processes by which companies are directed and controlled. Financial ethics and regulation exploring ethical issues in finance and the impact of regulatory frameworks on financial practices. Applied management: Strategic management involving competitive strategy, strategic planning, and long-term direction for organizations. Organizational behaviour regarding the behaviour of individuals and groups within organizations, including motivation, leadership, and organizational culture. Human resource management focusing on recruitment, training, performance management, and the strategic role of human resources. Operations management covering the efficient production and delivery of goods and services, supply chain management, and process optimization. International business examineing global business strategies, cross-cultural management, and the challenges of operating in diverse international markets. Entrepreneurship and innovation focusing on the creation and growth of new ventures, innovation management, and the entrepreneurial ecosystem. Corporate governance investigating the systems, principles, and processes by which companies are directed and controlled. Marketing management including market research, consumer behaviour, branding, and digital marketing strategies. Project management involving the planning, execution, and control of projects, including methodologies and tools for successful project delivery. Information systems management focusing on the use of information technology to improve business processes and decision-making. Quality management covering quality control, quality assurance, and continuous improvement processes. Change management involving strategies and approaches for managing organizational change and transformation. Financial management including budgeting, financial planning, investment analysis, and financial control. Knowledge management focusing on the creation, sharing, and utilization of knowledge within organizations. Innovation management exploring the processes and practices that foster innovation and creativity within organizations. Editorial Standards The journal upholds rigorous peer-review standards to ensure the publication of high-quality and impactful research. Manuscripts are evaluated based on originality, relevance, methodological rigor, and clarity of presentation. The editorial board comprises esteemed scholars and practitioners from around the world, bringing diverse perspectives and expertise to the review process. Audience The journal targets a broad audience including academics, researchers, practitioners, policy-makers, and students who are interested in the practical applications of economic theories, financial strategies, and management practices. It serves as a valuable resource for those seeking to understand the complexities of the global economy and to apply this knowledge in various professional contexts. Publication Frequency The ADSU International Journal of Applied Economics, Finance and Management is published biannually, ensuring a regular flow of high-quality research to its readership. Access and Distribution The journal is committed to broad dissemination of its content and supports open access to ensure that research findings are accessible to a wider audience without financial or technical barriers. This approach enhances the journal’s reach and impact across the global academic and professional communities.
Foreign Direct Investment And Its Effect On The Performance Of Return On Assets Of Commercial Banks In Nigeria
This study investigated the effects of Foreign Direct Investment (FDI) on the financial performance of commercial banks in Nigeria. The key indicator used here is Return on Assets (ROA), utilizing secondary data from 1991 to 2022, obtained from the Central Bank of Nigeria, National Bureau of Statistics, world bank, St. Louis Bank as well as Nigeria Deposit Insurance Corporation (NDIC) database, and financial reports of commercial banks, the study employed a variety of statistical techniques to analyze the data. These techniques include the Augmented Dickey-Fuller (ADF) unit root test for stationarity, cointegration test for long-run relationships, and the Autoregressive Distributed Lagged (ARDL) model for dynamic interactions. Additionally, post-estimation diagnostics such as the Breusch-Godfrey Serial Correlation LM Test, Jaque-Bera test, and CUSUM test for model stability were conducted. The Autoregressive Distributed Lag (ARDL) model results confirmed a long-run relationship between FDI and ROA, suggesting that foreign investments contribute to sustained improvements in asset utilization and firm efficiency. The Vector Autoregression (VAR) model further indicated dynamic interactions between FDI, ROE, and PM, where FDI exhibited both immediate and lagged effects, influenced by macroeconomic factors such as GDP growth, inflation, and trade openness.
Financial Inclusion And Household Financial Health In Nigeria: The Role Of Sociodemographic Factors
This study investigates the socio-demographic determinants of financial inclusion and their impact on household financial health in Nigeria. Using data from the Enhanced Financial Inclusion and Innovation Survey (2023), logit regression models were employed to estimate the likelihood of households achieving financial health. The results reveal that financial inclusion has a negative and significant effect on household financial health, suggesting that access to financial services alone may expose households to debt burdens and financial stress when not accompanied by adequate literacy and support structures. Age exhibits a nonlinear effect, with younger and middle‑aged households facing greater challenges, while older households regain stability through accumulated wealth and financial experience. Ethnic differences are evident: Hausa households are more likely to experience improved financial health compared to Igbo households, while Yoruba households show weak positive effects. Income and education emerge as the strongest positive drivers of financial health, whereas urban households are less likely to achieve financial stability compared to rural households, reflecting the pressures of higher living costs and debt exposure. The study contributes to debates on inclusive finance and development by highlighting the complex and sometimes counterintuitive relationship between financial inclusion and household well-being. Policy recommendations emphasize the need for inclusive financial strategies that integrate literacy programs, affordable financial products, and debt management support, alongside interventions that address age, ethnic, and regional disparities to strengthen household resilience and advance progress toward the Sustainable Development Goals (SDGs). Keywords: ; ; ; ;
Role Of SMES In Rural Poverty Reduction In Wase Local Government, Plateau State, Nigeria
Poverty continues to challenge rural communities in developing countries, including Nigeria, where limited access to resources, infrastructure, and opportunities hinders economic development. This study examined the role of Small and Medium-Scale Enterprises (SMEs) in reducing rural poverty in Wase Local Government Area, Plateau State. Data were collected from 395 SME operators using structured questionnaires and analyzed through descriptive statistics and a Generalized Linear Model (GLM). The findings revealed that SMEs have a significant positive impact on rural poverty reduction, demonstrating that their activities improve access to resources and economic opportunities in households. The results also revealed that employment generation through SMEs significantly reduces poverty, indicating that job creation directly enhances the welfare of rural communities and income obtained from SME activities positively affects household living standards, showing that higher earnings help households meet their basic needs. Finally, the findings revealed that the education level of SME operators and availability of infrastructure strongly enhance business performance and amplify the poverty reduction effect. The study concluded that SMEs play a vital role in improving rural livelihoods. Based on the findings, the study recommended policies to expand employment opportunities, increase income-generating capacity, provide skill development programs, and invest in rural infrastructure to maximize the role of SMEs in alleviating poverty and fostering sustainable rural development.
Small and Medium-Scale Enterprises (SMEs)
Impact Of Energy Consumption On Economic Growth In Lower Middle Income Economies In Africa
The persistent challenge of achieving sustainable economic growth in African middle-income economies underscores the critical role of energy consumption as a key input in production and development. This study investigates the dynamic relationship between energy consumption and economic growth in these economies over the period 2003 to 2023. Employing a panel ARDL estimation technique, the research examines both short-run and long-run relationship across a panel of fifteen selected middle income African countries. The findings reveal a significant positive long-run relationship between energy consumption and economic growth, highlighting energy as a critical driver of economic growth. However, the short-run results suggest mixed impacts, with some economies experiencing negative effects due to inefficiencies in energy use. Based on these findings, the study recommends the adoption of energy-efficient technologies, investment in renewable energy infrastructure, and policies that promote sustainable energy consumption to enhance economic growth across the region. These measures are essential for ensuring both economic resilience and environmental sustainability.
Examining The Consequences Of Unemployment Amongst Youths In Abia State, Nigeria
Unemployment has been a major issue confronting most developing countries due which Abia State in Nigeria is part of thereby experiencing the associated effect from it. This study attempted to assess the consequences of unemployment amongst the youths in Abia State, Nigeria. The study adopted survey design whereas chi-square was used to analyse the data collected. The study used a total of three hundred respondents; hundred respondents were selected each from the three senatorial districts in the State using stratified sampling technique. A well-structured questionnaire was used to collect primary data for the study with a pilot study conducted to test the validity of the instrument used. The empirical result shows that youth unemployment has significant effect poverty level in Nigeria. The study also discovered that significant efforts has made by the government to eradicate the high rate of poverty in Nigeria. These results were arrived at by analysing the data generated via a well-structured questionnaire administered on indigenes and non-indigenes resident in the three senatorial districts of Abia North, Abia Central and Abia South of Abia State. The study recommended that government among other things should establish industries to ensure that jobs are created for the teaming unemployed youths as well as a review of previous policies that were implemented to eradicate unemployment so as to enable policy makes know the loopholes which existed in such policies.
Cryptocurrency, Money Supply And Monetary Policy: Theoretical And Empirical Reviews
The rapid emergence of cryptocurrencies has introduced new dynamics into global monetary systems, raising concerns about the effectiveness of conventional monetary policy frameworks. As decentralized digital currencies operate largely outside the control of central banks, their growing adoption may weaken monetary policy transmission mechanisms and complicate the management of money supply. This paper provides a theoretical and empirical review of the relationship between cryptocurrency and monetary policy, with particular emphasis on implications for central bank control over money supply. Drawing on established monetary theories and recent empirical evidence from both advanced and emerging economies, including Nigeria, the study synthesizes key findings, identifies areas of consensus and divergence in the literature, and highlights existing research gaps. The review shows that while cryptocurrencies do not yet pose an immediate threat to monetary policy effectiveness, their rapid growth and increasing use as alternative stores of value and payment instruments could, over time, undermine central banks’ ability to regulate liquidity and ensure price stability. The paper concludes by outlining policy-relevant insights and directions for future research.
Challenges And Prospects Of Youth Employment In Yobe State, Nigeria: A Quantitative Analysis
Youth unemployment remains one of the most pressing socioeconomic challenges in Nigeria, particularly in the northeastern region where insecurity, poor infrastructure, and limited industrial activity exacerbate joblessness. This study will examines the challenges and prospects of youth employment in Yobe State using a quantitative research approach. A structured questionnaire will be administered to 380 youths across selected local government areas in the state, and the data will be analyzed using descriptive and inferential statistics via SPSS version 26. The findings will reveal a significant proportion of the youth population is either unemployed or self-employed in informal sectors with limited income and stability. Major challenges that will be identified include lack of access to vocational training, limited startup capital, corruption in program implementation, and inadequate government and private-sector job opportunities. Although several youth employment and empowerment programs exist, their effectiveness remains limited due to poor targeting, low funding, and weak monitoring frameworks. However, the study will also highlights potential prospects for reducing youth unemployment through targeted investments in skills acquisition, entrepreneurship development, and the revival of local industries. The research will recommends a holistic and transparent approach to youth employment policy implementation, with emphasis on education reform, vocational training, stakeholder collaboration, and improved governance mechanisms. The study also provide empirical evidence that can guide government and development agencies in designing more effective youth employment strategies tailored to the realities of Yobe State.
National Security, A Panacea For Economic Growth In Nigeria 1981-2025
Insecurity in Nigeria became more deadly and incessant following Nigeria’s transition from military rule to democracy in the year 1999.Over the years, there have been agitations over national resources which led to emergence of arm group in different parts of the country. For instance, the Niger- Delta miliants, independent people of Biafra(IPOB),movement for the actualization of the sovereign sstate of biafra (MASSOB), Afinefere etc. originated from the south and west while the north had its share of insecurity arising from activities of book haram, Islamic state of west African province(iswap),ethno religious crises, communal clashes, banditry, kidnapping etc. Insecurity according to Okoli, Oladipo & Onugha(2023) is a feeling of trepidation and unsafe that leads to wanton destruction of lives and properties in a society. It is a situation in which people’s lives and properties feel unsafe and businesses do not thrive well. Despite measures put in place by government at all levels (federal, state and local), insecurity continues to persist especially in the north eastern Nigeria.Okoli, Onugha, Oladipo & Chiwendu(2023) nations that aspire to grow develop should have a safe environment that would allow businesses and economic activities thrive well. One key determinant of economic growth of any nation is peace and security (Lious& Hilkyaa, 2018). The objectives of the study are to examine the impact of insecurity on socio-economic growth in North Eastern Nigeria and to examine the trend in economic growth from 1981-2025.The study adopted both qualitative and quantitative approach on socio economic implication of insecurity and anchored on the relative deprivation theory. The study also used descriptive statistics and the Autoregressive Distributed Lag (ARDL) to analyze data from 1981 to 2025. Results from the findings revealed that unemployment rate was high in 1992 and low in 2023 with values of 8.20 and 3.07 respectively, having a standard deviation of 1.42 which is closer to the mean value of 4.83. Government expenditure had a mean of 29.4, standard deviation of 37.02 with a minimum of 5.8 and maximum of 12.8 in 2009 and 2020 respectively. The study concluded that insecurity had a significant negative effect on education, government expenditure, inflation and poverty. Furthermore, the study recommends that the Nigeria government should improve on its kinetic and non-kinetic approach in tackling security matters and seek international collaboration on security. Keywords: , ,
Trade Liberalization And Poverty In West African Countries: Feasible Generalized Least Square Method Analysis
The study investigates the effect of trade liberalisation on poverty reduction in West African countries, with particular reference to ECOWAS member states, in order to determine whether increased openness enhances welfare and reduces poverty across the region. Using annual panel data for 15 countries spanning 1990–2023, the study employs the Feasible Generalized Least Squares (FGLS) estimation technique to account for cross-sectional dependence, heteroskedasticity, and serial correlation. Descriptive statistics, correlation analysis, and diagnostic tests such as the Variance Inflation Factor (VIF) and Pesaran tests confirmed the reliability and stationarity of the data. Empirical results reveal that trade liberalisation exerts a significant negative effect on poverty, implying that greater trade openness reduces poverty levels across West Africa. Exchange rate stability and institutional quality were also found to have strong negative relationships with poverty, while inflation exhibited a positive effect, indicating its adverse impact on welfare. The findings support the Solow growth model, which links openness to economic expansion and poverty reduction through productivity gains and technological diffusion. The study concludes that while trade liberalisation contributes to poverty alleviation, its benefits remain uneven due to weak institutions and infrastructural constraints. It recommends that West African governments pursue inclusive trade policies supported by sound macroeconomic management, institutional reforms, and targeted investments in human capital and rural development to ensure that the gains from liberalisation translate into broad-based poverty reduction.
Economic Growth And Health Outcomes In Subsahara Africa
This study examines the effect of economic growth on health outcomes of Sub-Sahara Africa (SSA) annual panel times series data was used on Economic Growth (GDP), Health Outcomes (HOC), Green Investment (GIN) and Carbon Emission (CO2) from 1990 to 2023. Cross-Sectional Dependency test, Fixed Effect (FE) and panel pairwise Granger causality techniques were employed for the analysis. The result of crosssectional dependency shows the evidences of cross-sectional dependencies among both economic growth and health outcomes in SSA. However, the fixed effect result revealed that economic growth has effect on health outcomes (HOC) with coefficient -0.199 and probability value 0.000 meaning that 1% decreased in economic growth (GDP) will worsen the health outcomes by 0.199 per annum Likewise, Dumitrescu and Hurlin Granger causality test result show the existence of bidirectional causality between economic growth and health outcomes over the period of the study. Finally, based on the findings the study recommends following policies to improve the health outcomes for sustainable growth: Sub-Saharan African stakeholders should establish an effective economic block for inclusive growth and sustainable development, Countries should review their fiscal policies measures for regulations of carbon emission to achieve a desirable health outcome in SSA, SSA governments commission for green investment in order to encourage the green investment partnerships and globalization for sustainable development.
Effect Of Trust Management On Performance Of Family Businesses In The Federal Capital Territory, Abuja, Nigeria
This study examined the effect of trust management on the performance of family businesses in the Federal Capital Territory (FCT), Abuja. Recognized globally as a cornerstone of organizational sustainability and success, trust acts as a crucial enabler of operational efficiency. Consequently, this study investigated how the trust management (TM) constructs of competence, loyalty, and integrity affect the performance of family businesses in Abuja. Adopting a cross-sectional research design, the study utilized a survey method, administering structured 5-point Likert scale copies of questionnaire to a sample of 358 respondents from family businesses in the FCT. The results revealed a positive and significant effect of competence, loyalty, and integrity on the performance of family businesses. The study recommends that family business management adopt on-the-job training and job rotation to enhance employee competence, while simultaneously empowering employees to make decisions. Furthermore, the organization should implement rigorous recruitment processes to hire leaders with high integrity, and establish feedback mechanisms to monitor both superior and employee loyalty in the system. Finally, the study emphasizes that integrity should be understood as a core, rather than peripheral, component of sound business operations.
Impact Of Indirect Tax On The Nigerian Economic Growth
This study investigates the impact of indirect taxes, Value Added Tax (VAT), Customs and Excise Duties (CED), and Petroleum Profit Tax (PPT) on Nigeria’s economic growth over the period 1994 to 2024. Employing secondary time-series data and the Autoregressive Distributed Lag (ARDL) modeling approach, the study examines both short-run and long-run dynamics, as well as causal relationships between these taxes and real GDP. The findings reveal that VAT has a significant positive effect on economic growth, both in the short and long run, highlighting its role as a growth enhancing fiscal instrument. In contrast, CED exhibits mixed effects, with short-run significance but an insignificant long-run impact, while PPT shows a small but significant negative effect on long-run growth. Granger causality tests indicate unidirectional influence from VAT to GDP and reverse causality from GDP to CED, whereas PPT demonstrates no predictive causality. Despite limitations related to data constraints, exclusion of other tax instruments, and the linear modeling assumption, the study contributes to knowledge by providing robust empirical evidence on the differential effects of indirect taxes and offering insights for policy formulation aimed at enhancing sustainable economic growth in Nigeria. The study recommends strengthening Value Added Tax administration through improved compliance, digital monitoring, and base broadening to sustain its growth-enhancing role, reforming Petroleum Profit Tax to reduce distortive effects on investment in the oil sector, and improving the efficiency of Customs and Excise Duties. These measures would enhance revenue mobilization, improve fiscal sustainability, and support inclusive and long-term economic growth in Nigeria.
Effect Of Board Of Directors’ Attributes On Financial Performance Of Listed Hospitality Companies In Nigeria
This study examines the effect of board of directors’ attributes on the financial performance of listed hospitality companies in Nigeria. Expost facto research design was used, relying solely on secondary data extracted from annual reports of selected hospitality companies listed on the Nigerian Exchange Group between 2019 and 2023. Data was analyzed using fixed effect regression model. The findings reveal that foreign directors has an insignificant effect on financial performance. However, independent directors exhibit a significant negative effect, while gender diversity and board expertise show significant positive effects on financial performance. Based on these outcomes, the study recommends that hospitality firms reassess the selection and effectiveness of independent directors, actively promote gender diversity, enhance board financial expertise, and align the appointment of foreign directors with strategic objectives rather than symbolic representation.
The Interplay Of Renewable Energy, Institutional Quality, And Consumption-Based Co₂ Emissions: An Empirical Analysis Of Nigeria
This study examine the mediating effect of institutional quality on the relationship between renewable energy and consumption-based co₂ emissions in Nigeria. The study utilizes Autoregressive Distributed Lag Model (ARDL) using a time series data from 1996 to 2024. The results show that institutional quality plays a crucial role in strengthening the effectiveness of renewable energy in reducing CO₂ emissions in the long run. Strong institutions ensure better governance, regulatory frameworks, and policy enforcement, which enhance the efficiency of renewable energy projects. Furthermore, the short run interaction term between renewable energy and institutional quality has a negative but statistically insignificant coefficient the negative sign suggests that higher institutional quality may still enhance the effectiveness of renewable energy in reducing CO₂ emissions. The study recommends that, Nigeria should strengthen institutional frameworks, improve policy implementation, and invest in renewable energy infrastructure in order to achieve sustainable emissions reduction. In addition, the long-term benefits of renewable energy can be amplified by addressing governance challenges, improving regulatory enforcement, and ensuring transparency in the energy sector.
The Impact Of Public Debt On Economic Growth In Nigeria
This study investigates the impact of public debt on economic growth, using annual time series data for a period of 42 years (1981 to s2023) using Autoregressive Distributive Lag (ARDL). The study further tested the unit root properties of the variables using Augmented Dickey Fuller (ADF) and the results indicate that most of the variables were stationary at level while others at first difference meaning that there is no unit root. The results of the cointegration test reveal that the F-statistic values of the test are greater than both I(0) and I(1) critical value bounds at 5% level of significance which is a condition for rejecting the null hypothesis of no long run relation among the variables of the equation. The study provides evidence that coefficients of investment and exchange rate are positively related to economic growth while domestic debt, external debt and debt servicing are negatively related to economic growth. The study recommends that government must ensure that borrowing should be directed strictly toward productive capital projects which will generate long-term returns. Also, exportation of domestic products should be encouraged by giving export subsidies to exporters, as high exchange rates make domestics products more attractive in the foreign markets.
Effect Of Income On Government Expenditure In Nigeria: Musgrave’s U-Shaped Quadratic Approach
This study examines the effect of income on government expenditure in Nigeria using annual time series data for a period of 62 years (1961-2023). To ensure the robustness of the results this paper employs the Autoregressive Distributive Lag (ARDL) model. The unit root properties of the variables was utilized using Augmented Dickey Fuller (ADF) and the results indicate that most of the variables were stationary at level while others at first difference. The results of the cointegration tests suggest rejection of the null hypothesis of no long run relation among the variables of each equation. The study adopts Musgrave's U-Shaped Quadratic Approach as its benchmark. The findings revealed that total revenue, aggregate income, per capita income, revenue per capita and population contribute to the expansion of government expenditure while the civilian regime dummy variable indicates that the government expenditure is lower during the civilian era than during a military regime in all estimations; election year is not associated with higher government expenditure. The study recommends the increasing state expenditure to maintain aggregate demand. Also, regulatory authorities should realize the inevitability of the need for additional governmental services that would be demand-driven. Lastly, the policy makers or regulatory authorities need to understand when the expenditure is overblown so as to take appropriate measures as a corrective action.
Impact of National Health Insurance Policy on Out-Of-Pocket Health Expenditure for Sustainable Development in Kano State, Nigeria
Globally, a health insurance scheme is set to ensure universal health coverage is accessible and affordable for all to ensure sustainable development. The National Health Insurance Scheme (NHIS) is not an exception. The increased quest for healthcare means an increased demand for healthcare complemented by healthcare utilization which is induced by reduction in catastrophic out of pocket payments on health. Empirical evidence using nonlinear econometric models revealed that demand for healthcare with endogenity of health insurance policy affects catastrophic health expenses. It is in view of this that the study seeks to identify factors responsible in explaining the extent and level of financial protection provided to users in Kano state, Nigeria amidst the NHIS policy since inception. The study collected data from a sample of 391 users and Logistic regression model was used to estimate out of pocket payments or NHIS to measure extent of financial protection provided to users. Findings from the study revealed that; socio-demographic, economic, individual specific and health specific factors determine the extent of financial protection among enrollees; aging population, the female and the severely ill are negatively affected by the policy; the enrollment criteria has left enrollees with healthcare burden that is settled out of pocket, in the same vein accredited public hospitals are ill-equipped which derives enrollees to accredited private hospitals and incur exorbitant healthcare costs. The model fit statistics have shown that the models fit the data set well. The study recommends that special consideration should be given to the old age, there should be a health insurance package for retirees and there should be closed monitoring and evaluation of the accredited centers (public and private) to ensure achievement of the desired goal of accessing healthcare at affordable cost among others.
Assessing The Role Of Rice Value Chain In Enhancing Women’s Economic Welfare In Northern Senatorial Zone, Adamawa State
This study examines the role of the rice value chain in enhancing women’s economic welfare in the Northern Senatorial Zone of Adamawa State, Nigeria. Employing a quantitative cross-sectional and explanatory research design, primary data were collected from women involved in rice production, processing, and marketing using structured questionnaires. The sample size was determined using Taro Yamane’s (1967) formula, and data were analyzed using descriptive statistics, Logit regression, Propensity Score Matching (PSM), and Ordinary Least Squares (OLS) regression techniques. The findings from the Logit model indicate that socio-economic and institutional factors including education, farming experience, access to credit, cooperative membership, land ownership, and extension services significantly increase women’s likelihood of participating in the rice value chain, while greater distance to markets reduces participation. The PSM and OLS results further reveal that participation in the rice value chain translates into substantial welfare gains. Participating women earn higher incomes (β = 38,450; ATT = ₦37,774.12), spend more on household consumption (β = 14,320; ATT = ₦14,422.56), and possess a greater assets index (β = 0.15; ATT = 0.14) compared to non-participants. Disaggregated analyses show that engagement in rice production and processing contributes most significantly to income, consumption, and asset accumulation, whereas marketing alone yields limited and inconsistent benefits. The study highlights the reinforcing roles of human capital, institutional support, and access to productive resources, while household size and poor market access remain constraints. Based on these findings, the study recommends targeted education and training programs, strengthened cooperative structures, facilitated access to affordable credit, improved rural infrastructure, and promotion of value-addition activities along the rice value chain. Implementing these measures can enhance women’s participation, improve short- and long-term welfare outcomes, and promote sustainable economic empowerment in the study area.
An Empirical Evaluation Of The Impact Of Agricultural Programs On Food Security In Adamawa State
This study empirically evaluates the impact of agricultural programs on food security in Adamawa State, Nigeria, focusing on the availability of staple food crops and household access to food. Despite government interventions including the State Subsidised Input Program, Fadama projects, and the Anchor Borrowers’ Program, food insecurity persists due to poverty, youth unemployment, climate variability, and conflict. Using a quantitative survey design, data were collected from 450 respondents across six purposively selected Local Government Areas. Regression analyses employing Ordinary Least Squares (OLS), robust OLS, and log-linear models were conducted. Results show that participation in agricultural programs significantly improves staple food availability (β = 0.284, p < 0.01) and household food access (β = 0.241, p < 0.01). Access to subsidised inputs (β = 0.219, p < 0.01) and agricultural credit (β = 0.182, p < 0.01) further enhance food availability, while household income (β = 0.318, p < 0.01) and education of household heads (β = 0.124, p < 0.01) positively influence food access. Larger household sizes, however, negatively affect food access (β = −0.067, p < 0.05). These findings support the Sustainable Livelihoods Theory by highlighting the role of financial, human, and physical capital in improving production, income, and resilience. The study recommends strengthening program implementation through expanded input support, improved extension services, enhanced credit facilities, and promotion of education and income diversification to ensure sustainable food security.
Effects Of Farmer-Herder Conflicts On Food Security Among Farming Households In Adamawa State Nigeria
This study investigates the effects of farmer–herder conflicts on food security among farming households in Adamawa State, Nigeria, and assesses the mitigation strategies adopted for managing these conflicts. Using a cross-sectional research design and multistage cluster sampling, data were collected from farming households and analyzed using descriptive statistics, a food security index, and a logistic regression model. The results show that about 63 percent of farming households are food insecure. Empirical findings indicate that cattle rustling, violent confrontation, crop damage by cattle encroachment, and interpersonal clashes significantly reduce the likelihood of household food security. The study identifies seven community-based mitigation strategies predominantly applied to resident (local) herders, including verbal warning, arrest and prosecution, alternative dispute resolution, compensation, relief provision, plot reallocation, and payment for loss of cattle. In addition, a state-led seasonal calendar (date-line) approach regulating harvesting periods and pastoral movement is identified as a complementary preventive strategy targeting migrating herders. While most households perceive these measures as effective, gaps remain in enforcement and institutional coordination. The study concludes that farmer–herder conflicts constitute a major constraint to household food security and recommends institutionalizing the seasonal calendar framework, strengthening community-based conflict resolution mechanisms, and integrating conflict-sensitive land-use planning and agro-pastoral practices to enhance sustainable food security outcomes.
Financial Inclusion And Economic Development In Northern Nigeria: Empirical Evidence And Policy Implications
This study investigates the relationship between financial inclusion and economic development in Northern Nigeria using quarterly secondary data from 2012 to 2024, focusing on ten states with the highest multidimensional poverty rates. Financial inclusion indicators include bank branches per capita, ATM penetration, mobile money usage, and rural loans, while economic development is measured by GDP per capita, poverty rates, employment, and household income. Unit root tests reveal mixed orders of integration among the variables, justifying the use of the Autoregressive Distributed Lag (ARDL) approach. The bounds test confirms a stable long-run cointegrating relationship between financial inclusion and economic development. Long-run ARDL estimates indicate that bank branches, ATM penetration, and rural loans positively affect economic development but are statistically insignificant, suggesting limited impact of traditional financial inclusion channels, whereas mobile money usage has a negative and marginally significant effect, implying that it is mainly used for consumption rather than productive investment. Short-run results show that the lagged dependent variable is significant and the error correction term is negative and statistically significant, with approximately 50 percent of deviations from long-run equilibrium corrected within one quarter, indicating a relatively fast speed of adjustment toward a stable long-run relationship. Post-estimation diagnostics confirm model robustness, showing no serial correlation, heteroscedasticity, or non-normality. Based on these findings, the study recommends that policies not only expand access to financial services but also promote their productive use through entrepreneurship programs and investment incentives; enhance financial literacy for low-income and rural populations; and strengthen institutional and regulatory frameworks to improve transparency, credit allocation, and monitoring of financial services.
Moderating Effect Of Tax Expertise On The Relationship Between Corporate Tax Planning Strategies And Profitability Of Listed Consumer Goods Companies In Nigeria
This study examined moderating effect of tax expertise on the relationship between corporate tax planning strategies and the profitability of Nigerian consumer goods companies. The study employed ex-post facto research design. The study focused on 15 sampled companies from a population of 21, covering a 16-year period (2007–2022). Data was collected from the sampled companies and analysed using panel corrected standard error regression technique. The findings reveal that effective tax rate and tin capitalization both have a negative and significant impact on return on capital employed. Capital intensity positively and significantly affects return on capital employed. Tax expertise positively and significantly affects return on capital employed. Tax expertise also significantly moderates the relationships between effective tax rate, thin capitalization, capital intensity, and profitability, amplifying the positive impacts of tax planning strategies. However, its moderating effect on the relationship between firm size and profitability is positive but insignificant. Based on these findings, the study recommends that companies focus on strategies to minimize effective tax rate, optimize debt levels, and invest in capital assets while leveraging the expertise of tax professionals on their boards to enhance profitability. Further research should explore the long-term impacts of these strategies, consider other sectors of the Nigerian economy, and examine additional corporate governance factors.
Monetary Policy Variables And Inflation Rate In Nigeria (1986 – 2024)
Persistent inflation has continued to challenge Nigeria’s macroeconomic stability and the effectiveness of monetary policy. This study investigates the impact of key monetary policy variables, Monetary Policy Rate (MPR), Cash Reserve Ratio (CRR), and Exchange Rate (EXR), on inflation in Nigeria from 1986 to 2024. Using annual data from the Central Bank of Nigeria (CBN) and the World Development Indicators (WDI), the study applies the Auto-Regressive Distributed Lag (ARDL) model alongside unit root, cointegration, and Granger causality tests to examine both short- and long-run dynamics. Results reveal that a 1% increase in MPR raises inflation by 1.92% in the short run and 4.90% in the long run, indicating a strong positive relationship. The CRR shows an insignificant short-run effect but a long-run negative impact, where a 1% rise reduces inflation by 1.40%. Exchange rate movements exhibit mixed outcomes: a 1% depreciation lowers inflation by 2.20% in the short run but increases it by 2.66% in the long run. The error-correction term of -0.83 suggests rapid adjustment to the long-run equilibrium. The study recommends that the Central Bank of Nigeria apply cautious and coordinated adjustments to the MPR, utilize CRR strategically for long-term inflation control, and adopt integrated exchange rate and structural policy reforms to strengthen monetary policy effectiveness.
Firm Age, Firm Size And Environmental, Social And Governance Disclosure In Nigeria
This study examines the effect of firm-specific characteristics on Environmental, Social, and Governance (ESG) disclosure among companies listed on the Nigerian Exchange Group. Drawing on legitimacy and stakeholder theories, the study focuses on firm size and firm age as key explanatory variables, while controlling for profitability. Using panel data from 41 listed firms over the study period, panel regression techniques are employed, including pooled ordinary least squares (OLS), random effects (RE), and fixed effects (FE) models. Post-estimation diagnostics indicate that the fixed effects model, corrected using panel-corrected standard errors (PCSE), provides the most appropriate specification. The empirical findings reveal a strong and positive relationship between firm size and ESG disclosure, suggesting that larger firms are more responsive to stakeholder pressure and regulatory expectations. Conversely, firm age exhibits a negative and statistically significant effect on ESG disclosure in the fixed effects models, indicating that older firms may rely more on established reputational capital rather than expanding sustainability reporting practices. Therefore, the results highlight that while firm size aligns with global evidence as a key driver of ESG disclosure, firm age displays contrasting effect in the Nigerian context. The study contributes to the limited literature on ESG disclosure in emerging markets and provides relevant insights for policymakers, investors, and corporate managers seeking to strengthen sustainability reporting practices in Nigeria.
Environmental Social and Governance (ESG) Disclosure
The Influence Of Organisational Communication And Leadership Styles On Employee Performance In Niger State Board Of Internal Revenue
This study examines the influence of organistional communication and leadership styles on employee performance in Niger State Board of Internal Revenue. The primary goal of the study was to determine how employee performance at the Niger State Board of Internal Revenue was impacted by organizational communication and leadership styles. The study adopted theories like situational/contingency theory of leadership, and adaptive structuration organizational communication theory as theoretical underpinning. A quantitative research approach was employed to accomplish the goal, and 159 (86%) of the 186 closed-ended questionnaires distributed were collected. The Multifactor Leadership Questionnaire, was used to collect the data, and it was adjusted to meet the needs of the research. The statistical methods employed for the analysis of the data were descriptive and inferential, with the aid of SPSS software. The results revealed that there was a high correlation between employee performance and leadership style. Consequently, it was recommended that companies use media and efficient communication techniques to help workers understand the intentions of the organisation. Furthermore, leadership philosophies ought to be flexible rather than rigid and unchangeable.
Institutional Quality And Foreign Direct Investment Inflows In ECOWAS
There is no doubt that several studies have examined the linkage between institutional quality and foreign direct investment, but the fact remains that institutional quality as a measure of governance effectiveness cannot on its own provide remedy towards facilitating capital inflow. It is on this note that this study examines the impact of institutional quality on foreign direct investment (FDI) in the Economic Community of West African States (ECOWAS) Sub-region, with an underlying focus on the mediating role of economic openness in the link between institutional quality and foreign direct investment (FDI) inflows. Using annual panel data covering 12 ECOWAS countries from 2010–2024, the study employed Structural Equation Modelling (SEM). Results reveal that rule of law exert a negative direct effect on FDI inflows, reflecting persistent instability, weak policy implementation, and investor concerns about political risk across the sub-region. However, trade openness provides a modest but significant mediation effect, suggesting that market access can partly offset the deterrent impact of governance challenges. The study concludes that legal and institutional reforms alone are insufficient to attract investment. ECOWAS governments should complement reforms with robust trade and commercialization policies to foster a more enabling environment for sustainable FDI.
Exchange Rate Pass-Through And Macroeconomic Drivers In Nigeria: Evidence From ARDL Analysis, 1986–2023
This study examines the determinants of Nigeria’s exchange-rate dynamics through the lens of the Exchange Rate Pass-Through (ERPT) theory. Using annual data from 1986 to 2023 sourced from the Central Bank of Nigeria and the National Bureau of Statistics, an autoregressive distributed lag (ARDL) framework is applied to capture both short- and long-run effects of key macroeconomic drivers: money supply, monetary policy rate, inflation, government capital expenditure, government recurrent expenditure, and real gross domestic product on exchange rates. The long-run results reveal that inflation and money supply exert statistically significant negative impacts on the exchange rate, implying that episodes of rising domestic prices and monetary expansion, when accompanied by credible policy tightening and real-sector growth, are associated with a mild appreciation of the naira. By contrast, the monetary policy rate shows a strong positive impact, indicating that sustained interest-rate hikes may signal fiscal or liquidity risks, thereby encouraging depreciation. Government capital and recurrent expenditures both contribute significantly to naira depreciation, with the recurrent component displaying the stronger impact, while real GDP growth remains positive but statistically insignificant once monetary and fiscal influences are controlled. Based on the findings, this study recommends that effective management of recurrent spending, targeted monetary expansion that supports productive sectors, and transparent policy communication are essential to moderating pass-through pressures and sustaining long term exchange-rate stability.
Assessment Of Household Water Demand And Supply Situation In Damaturu Metropolis, Yobe State-Nigeria: A Quest For A Sustainable Water Security Solution
Access to safe water which was declared as a fundamental human right by the United Nations General Assembly in the year 2000 that was expected to derive economic growth, reduce poverty, improves health security and indeed environmental sustainability. But as population, urbanization, industrialization and climate change severity increase, the underlying challenges facing most municipal authorities particularly in the underdeveloped and developing countries have also increased in scope, complexity and intensity. This is evident in the United Nation (UN) report that about 785 million people lack access to basic drinking water service and at least 2 billion people use a drinking water source contaminated with feces which further cause water borne disease such as cholera, diarrhea, typhoid, hepatitis, among others. Empirical evidence within the study area suggests that total water demand in Damaturu metropolis as at January, 2024 was 900 million litres per day (mld) and the available supply was just 250 mld. The difference stood at 650 mld as deficit. The study, deployed a blend of three theories- the Theory of Planned Behaviour (TPB), Time allocation, Cost-benefit analysis and utility maximization theories have been identified and adopted as the analytical framework for the study. A case study approach using mixed method research resign was used as the main methodology for the study. The quantitative data was analyzed using STATA version 17 of the both descriptive statistics data summary and estimation of Tobit or logistic regression models. Also, Nvivo and ATLAS-TI software was used for the analysis of the qualitative data. The finding revealed that most of the respondents (85.22%) relied on informal water vendors as the major source of water for domestic consumption. Furthermore, significant percentage (91.44%) of the respondents expressed willingness to pay for the improved water supply system and reported the sum ₦3,119.51K equivalent to $2.51 as mean willingness to pay per week. The Tobit regression result identified household income spent on water, average daily quantity of water consumed by household, and average income of head of household were found to be statistically significant in influencing households’ willingness to pay for improved private sector water supply within the study area. The need for more investment by organized private sector through Public Private Partnership PPP in the water industry, among others was recommended.
Agricultural Credit, Government Spending And Agricultural Productivity In Nigeria: An Empirical Analysis
This study examined the effects of agricultural credit and government spending on agricultural productivity in Nigeria from the first quarter of 1999 to the fourth quarter of 2023. Using secondary data obtained from the World Bank Database and the Central Bank of Nigeria Statistical Bulletin (2023), the study employed the Autoregressive Distributed Lag (ARDL) regression technique. The findings revealed that agricultural credit, climate variability, insecurity, and corruption significantly influenced agricultural output growth during the study period. The study recommends enhancing access to agricultural credit, increasing and efficiently managing government spending, implementing climate adaptation strategies, and strengthening anticorruption institutions to improve agricultural productivity.
An Analysis Of The Determinants Of Household Biomass Energy Demand And Willingness To Pay For Improved Energy Source In Michika LGA
This study examines the determinants of household biomass energy demand and willingness to pay (WTP) for improved energy sources in Michika Local Government Area (LGA) of Adamawa State, Nigeria. A cross-sectional survey design, complemented by descriptive, analytical, and contingent valuation approaches, was employed to collect primary data from 400 households across 13 electoral wards. The data captured socio-economic, demographic, and energy consumption characteristics of the respondents. The Multinomial Logit (MNL) model, grounded in Random Utility Theory, was used to analyze the determinants of household energy choices, while a Binary Logit model estimated the willingness to pay for improved energy sources. Descriptive analysis revealed that most respondents were male, within the 51–60 years age group, and had primary education. Access to modern energy was generally low, and reliance on traditional fuels such as firewood and charcoal remained high due to affordability and accessibility challenges. Regression results showed that household income and type of dwelling unit significantly influenced energy accessibility, indicating that wealthier households in better housing structures are more likely to use modern energy sources. In contrast, reliance on traditional fuels negatively affected access to improved energy. The logistic regression model further confirmed that the type of energy source significantly influenced the likelihood of having reliable energy access. The model demonstrated good fit and predictive accuracy, validating its suitability for analyzing household energy behavior. The study concludes that enhancing access to modern and cleaner energy sources is vital for reducing dependence on biomass fuels and promoting sustainable energy use in rural communities. It recommends that government, private investors, and development partners improve rural energy infrastructure, provide affordable clean energy alternatives, and promote awareness programs to facilitate equitable and reliable access to improved energy sources in Michika LGA.