SUB-SAHARA AFRICAN JOURNAL OF MANAGEMENT SCIENCE AND ENTREPRENEURSHIP (SJMSE)
VOL 20 (7) JUNE, 2021 ISSN: 2285-8138
Sub-Sahara African Academic Research Publications,
Centre for African Development Studies, University of Ibadan,
P. O. Box 10108, U. I. Post Office. Ibadan Oyo State, Nigeria, West-Africa.
INFLUENCE OF RURAL MARKETS ON SUSTAINABLE DEVELOPMENT: THE NIGERIA EXPERIENCE
PROMISE CHIKA OPARAH, PhD; & IFEKANANDU, CHUKWUDI CHRISTIAN
Department of Marketing, Nnamdi Azikiwe University Awka, Anambra State Nigeria.
The study focuses on the influence of rural markets on sustainable development of Ohaji-Egbema Local Government Area of Imo State, Nigeria. Purposive and Random sampling techniques were used to sample four rural markets and 437 respondents in the study area. Data was collected using questionnaire focusing on participants from the four different rural markets across Ohaji-Egbema Local Government Area. Data was analysed using both descriptive and multiple regression analysis. The study revealed that rural markets have significant influence on economic development of the study area as confirmed by the regression analysis which were significant at 5% level through increase in trader’s income (0.879), with 24% of the traders earning above Nigeria’s minimum wage, N30,000 monthly, and creation of job opportunities like traders, head loaders, wheelbarrow pushers, carriers, shoe repairers, road transport workers, grain millers, POS Operators , telecommunication business etc,. It is concluded that, rural markets have tremendous influence on the socio-economic development of Ohaji-Egbema Local Government Area. It is recommended that, there should be establishment of financial institutions in the study area which will help traders to have access to loans to enable them expand their business to earn more income, market information, good storage facilities like lock-up stores, silos and bans, motorable road, and water supply.
Keywords: rural markets, job creation, sustainable development.
EFFECTS OF RISK MANAGEMENT ON THE PERFORMANCE OF INSURANCE COMPANIES IN PLATEAU STATE
*WETNWAN SETLE; **ANGYAK, JONATHAN AHAN; & ***TAIYA, HAZIEL MBASITI
*Department of Insurance, University of Jos, Plateau State, Nigeria. **Department of Actuarial Sciences, University of Jos, Plateau State, Nigeria. ***Department of Accounting, Adamawa State University, Mubi, Adamawa State, Nigeria.
Risk management has occupied an important place on the agenda of practitioners, academics and the business community which has been on the rise because it enhances performance. The main objective of this study is to examine the effects of risk management on organizational performance in the Nigerian insurance industry. The study sample was made up of selected staff of the insurance industry in plateau state. Structured questionnaire designed was used to collect data from the 250 respondents from the insurance industry in plateau state through purposive sampling technique method. Inferential statistics used were correlation and multiple regression analysis with aid of SPSS version 23-0. The findings revealed that there was a strong linear relationship between governance risk management, strategic risk management and operational risk management with organizational performance. The study thus concluded that by applying governance risk management, strategic risk management and operational risk management, the performance of insurance industry will significantly increase. The study gives recommendations that insurance industries should apply governance risk management, strategic risk management and operational risk management to increase productivity. Therefore, risk management should be adopted by the Insurance Industries for effective performance.
Keywords: Risk Management, Governance, Strategic, Operational, Organizational Performance
ANALYZING NIGERIA ECONOMY PERFORMNACE ON EMERGING MARKET: AN ISSUE FOR INFLATION TARGETING
ABUBAKAR HARUNA1, ILIYA BAWA2 AND MAIRIGA ISA HARUNA3
1Department of Marketing, ISM Adonai University, Cotonou, Republic of Benin. 2Department of Business Administration, Federal University Lokoja, Kogi State, Nigeria 3Department of Marketing, Federal Polytechnic Nasarawa, Nigeria
There are diverse opinion among economist and concerned professionals about whether inflation targeting has a favourable or unfavoruable impact on Nigerian economy. The study objective is to analyze the influence of inflation targeting on emerging market for economic performance. Expo Facto research design was adopted using information from CBN and NBS on consumer price index, unemployment rate, exchange rate and Gross Domestic Product. Simple regression analysis was used. The findings reviews that persistence increase in price of commodity and joblessness in a clear indication of deficient macroeconomic performance. The study recommended that attempt should be made to stabilize CPI thereby promoting long term growth of Gross Domestics Product.
Keywords: Emerging Market, Inflation Targeting, Consumer Price Index, Unemployment, Interest Rate, Gross Domestic Product,
AGRICULTURAL EXPORTS AND ECONOMIC GROWTH IN NIGERIA: A 38 YEARS REVIEW
1OGUNDIWIN IJEOMA. J. (PhD); 2ASIKHIA, OLALEKAN (PhD); 3BINUYO, ADEKUNLE (PhD); & 4AMOS, BENITA (PhD)
1234Department of Business Administration & Marketing, Babcock University, Ilishan-Remo, Ogun State.
A growing and sustainable economy is the goal of every nation. Nigeria was considerably described as an agrarian economy during the first decade after independence. However, the discovery of crude oil and the huge inflow of foreign exchange revenues that accompanied the oil boom diverted the attention of the people and government. This led to dwindling of the average annual growth rate of agricultural exports by 17% overtime. By 1996, agriculture accounted for only 2% of exports. The study adopted ex-post facto research design. The study employed 155 observations using 37 years of economic data sourced from Central Bank of Nigeria Statistical Bulletin, Nigeria Bureau of Statistics and World Governance Indicator from 1981-2017. The results revealed that agricultural exports had a significant effect on economic growth of Nigeria (Adj R2 =0.998; F(5, 155) = 4114.96; p<0.05). The study concluded that agricultural exports impacted the economic growth of Nigeria. The study recommended that an effective and committed policy implementation by the government is needed to improve economic growth. Furthermore, the Nigerian government should provide additional funding for the agricultural sector to raise its productivity and increase its contributions to economic growth.
Keywords: Agricultural Exports, Economic Growth, Sustainable Economy, Nigeria, Government.
EFFECT OF FIRM CHARACTERISTICS ON STOCK RETURNS OF SELECTED QUOTED EQUITY FIRMS IN NIGERIA
NYIKYAA, MIRIAM NGUAVESE
Department of Accounting, Nasarawa State University, Keffi
Emerging markets have different structures and institutional characteristics from developed stock markets, and in view of the fact that investors are interested in getting more insights into the activities of blue chip companies, it is imperative to find out whether stock returns in Nigeria respond differently to effects of firm level attributes factors or not. Hence, the study examined the effects of firm size, ratio of market to book value per share, and price to earnings ratio on stock returns of selected quoted equity firms in Nigeria from 2010 – 2019. The population comprised of top twenty-five most capitalized quoted equity firms, out of which twenty-one companies represent the sample of the study. The study adopted ex-post facto research design. The study used secondary data obtained from the audited accounts of the sampled firms, Central Bank of Nigeria Statistical Bulletin and the Nigerian Stock Exchange database and website. Analysis of data was carried out using panel data regression. The panel regression results indicated significant positive effect between ratio of market to book value per share and stock returns in Nigeria, and insignificant negative effect between firm size and stock returns in Nigeria. A further regression result indicated insignificant positive effect between price to earnings ratio and stock returns of selected quoted companies in Nigeria. The study recommended among others; monitoring and surveillance by the Securities and Exchange Commission, careful use of market to book value per share ratio by investors, determination of correct and comparable earnings per share by investors and investment analysts.
Keywords Firm size, Ratio of market to book value per share, Price to earnings ratio, and stock return
ANALYSIS ON ECONOMETRIC RELATIONSHIP BETWEEN FINANCIAL INTERMEDIATION AND ECONOMIC GROWTH IN NIGERIA
*DR BADAMASI SANI MOHAMMED; & **SURAJ MUHAMMAD
*Department of Economics, Al- Qalam University Katsina. **Department of Economics, Isa Kaita College of Education, Dutsinma Katsinastate.
This paper investigates the nexus between financial intermediation and economic growth in Nigeria for a period of thirty-one (31) years (1985-2016), using time series data for the sampled period, the conventional unit-root test conducted indicates that the variables of interest are integrated of order one I(1), co integration analysis revealed the presence of a long-run relationship between financial intermediation which is proxy by the ratio of bank credit to the private sector, interest rate and economic growth in Nigeria, and causality test conducted on the granger frame-work indicates that causation stems from financial intermediation to economic growth in Nigeria. The study recommends that, long-term investment loan should be given to the priority sectors of the Nigerian economy at an affordable and attractive interest rate.
CURBING THE CRIME RATE IN NIGERIAN BANKING SECTOR: THE NEED FOR ARTIFICIAL INTELLIGENCE
*ADAMU GARBA ZANGO; &**EMMANUEL NDAKIMPA ABU
*Department of Accounting & Finance, Baze University, Abuja. **Nigerian Airforce Headquarters, Garki, Abuja.
In every economy, the banking sector has been part of the administration and organization of financial resources to various sector which allow the economy to grow and expand. Despite its involvement in nation building, the failure of banks to adequately fulfil their role arises from the several risks that they are exposed to many of which are not properly managed. One of such risks which is increasingly becoming a source of worry is, the banking risk associated with incessant frauds and accounting scandals. This study looked at how to curb the crime rate in the Nigerian banking sector by proposing the need for Artificial Intelligence (AI) architecture. This study employed the descriptive approach where online survey was sent to 23 staff of Baze University Abuja branch of Zenith Bank. Frequency Distribution and the Chi-Square test of goodness fit were employed for the analysis with the aid of Statistical Package for Social Sciences (SPSS) version 23.0. The study found that Artificial Intelligence (AI) deployment has significant effect on the internal control system of the Nigerian Banking Industry. It was also observed that Artificial Intelligence (AI) adoption has significant impact on fraud detection in the Nigerian Banking Industry. The study recommends that the internal control systems of the Nigerian banking industry should be strengthened using the AI system in order to be able to detect and prevent fraud and fraudulent activities and to protect its assets.
Keywords: Crime rate, Artificial Intelligence, Nigerian banking sector
OIL PRICE FLUCTUATION AND ITS EFFECTS ON THE PERFORMANCE OF THE ECONOMY OF OIL PRODUCING COUNTRIES; THE CASE OF NIGERIA (2006-2018)
*DARLINGTON OSONDU OPARA; **RICHARD OBIAJURU, OMU; ***ONWUMERE CHINASA.
*Department of Management, Faculty of Management Sciences, Imo State University, Owerri **Department of Accountancy, Faculty of Management Sciences, Imo State University, Owerri ***Department of Business Administration and Management Imo State Polytechnic, Umuagwo
This paper examined the oil price fluctuations and its effects on the performance of the economy of oil producing countries; the case of Nigeria 2006-2018. The purpose of this work is to investigate the extent to which crude oil price volatility, crude oil export and domestic oil production affect oil revenue in Nigeria. Secondary data were sourced from Central Bank of Nigeria statistical bulletin and analyzed via multiple regression ordinary least square method (OLS), The results show that oil price fluctuation has insignificant impact on oil revenue but was found to be positively related to Growth, crude oil export revealed negative relationship and statistically insignificant with Economic growth. The volatile nature of the explanatory variables and its corresponding effect on oil price reveals reasons for inconsistency in the growth of Nigeria economy since it is oil dependent. Hence, the economy is vulnerable to external shocks. It is therefore recommended that government should diversify to other productive sector of the economy in other to avoid economic shock.
Keyword: Price Fluctuation, Economy, Shocks, Volatility, Revenue
PARAMETERS OF ORGANIZATIONAL CULTURE AND SMALL AND MEDIUM ENTERPRISES’ PERFORMANCE: EVIDENCE FROM OSUN STATE, NIGERIA
1AFOLABI, MUSBAU. A, 1OLAOYE, BOSEDE. O, 1AMUSAT WALI .A, 2UNACHUCHUKWU J. C
1Department of Business Administration and Management, Osun State Polytechnic, Iree, Nigeria. 2Department of Insurance, Federal Polytechnic, Offa, Nigeria
This study examines the influence of parameters of organizational culture on the performance of SMEs, with particular reference to the sub-manufacturing sector of SMEs in the state of Osun, Nigeria. The sampling method used was a proportional random sampling of the five cities in the study area. For the same sample size, 20% of the total number of SMEs in the five cities were selected. And the samples were selected using random samples generated by the Microsoft Excel application package. A total of 202 participants participated in the study. A systematic questionnaire was used to gather relevant information from study participants. Pearson Moment correlation and a regression model were used to analyze the data. The results show that the parameters of the organizational culture of the sub -manufacturing sector of SMEs together have a significant impact on the performance of the company. In addition, the study also found that bureaucratic culture, clan culture, entrepreneurial culture, and market culture independently of each other have a positive and significant influence on the performance of SMEs. The effect of each organizational culture parameter was positive, which means that every increase in unit level in each organizational culture parameter appears to be a competitive advantage for SMEs
Keywords: Bureaucrat, Culture, Clan, SMEs, Market, Performance
COVID-19 AND DIASPORA REMITTANCES TO NIGERIA IN 2020
*ABEGUNRIN, A.O.; **ADENIRAN, E.G.; & ***OLAITAN, O.O.
*General Studies Department, the Oke-Ogun Polytechnic, Saki, Oyo State **Banking and Finance Department, the Oke-Ogun Polytechnic, Saki, Oyo State ***Accountancy Department, the Oke-Ogun Polytechnic, Saki, Oyo State
Diaspora remittances have become an important source of foreign funds for many developing countries in the last twenty years. For instance, Nigeria’s diaspora remittances rose by 126 percent from 2013 to 2018. Meanwhile, the outbreak of Covid-19 pandemic in 2019/2020 paralyzed economic activities across the globe. Coincidentally, remittances from Nigerians in the diaspora declined by 27.7 percent in 2020, according to a report by the World Bank (2021). Therefore, this study examined the correlation between the outbreak Covid-19 pandemic and decline in remittances of Nigerians in the diaspora in 2020. Relying on data from the World Bank and Nairametrics, the study found out that the outbreak of Covid-19 alone was not responsible to the decline in Nigeria’s diaspora remittances.
Keywords: Diaspora, remittances, Covid-19, pandemic, economic
ANALYSIS OF CBN INTEREST RATE POLICIES, BANKS LENDING AND CUSTOMERS’ LOAN ATTITUDES IN ADAMAWA STATE
*ABUBAKAR MAHMUD BELLO; *MONICA SHADRACH; & **MUSTAPHA SULEIMAN
*Department of Accountancy, Federal Polytechnic Mubi, Adamawa State. **Department of Business Administration and Management, Federal Polytechnic Mubi, Adamawa State
This study is titled Analysis of CBN Interest Rate Policies, Banks Lending and Customers’ Loan Attitudes in Adamawa State. The objectives of the study are to assess whether interest rate policies have an impact on commercial banks’ lending activities and also assesses whether interest rate policies and customers’ loan attitudes are positively correlated. Field survey was adopted as a research design for this study. Data was sourced from both primary sources (questionnaire and interview) and secondary sources (textbooks, journals & internet). A sample of 10 respondents from 10 banks totaling 100 was taken for testing hypothesis 1 and 100 customers were taken for testing hypothesis 2. Chi-square and regression were used in testing hypotheses 1 & 2 respectively. Findings from the study reveal that interest rate policies have a positive impact on commercial banks’ lending activities and also that there is a positive correlation between interest rate policies and customers’ loan attitudes. The study recommends that the CBN should adopt and release interest rates that will boost the level of savings and encourage investment borrowing so that the Nigerian economy will pull out of the current recession it is currently in which is largely due to a general fall in global oil prices.
Keywords: Interest rates, policies, lending, correlation, investment borrowing
THE NEXUS BETWEEN PRIVATE SECTOR CREDIT, INTEREST RATE SPREAD AND ECONOMIC GROWTH IN NIGERIA
*NASIRU ADAMU; & **PROF. HARUNA MOHAMMED ALIERO
*Department of Economics, Isa Kaita College of Education Dutsin-ma, Katsina State. ***Development Economics and Finance, Department of Economics, Usmanu Danfodiyo University, Sokoto, Nigeria.
This paper examines the relationship between private sector credit, interest rate spread and Economic growth in Nigeria. The study utilized secondary data sourced from the Central Bank of Nigeria statistical bulletin and annual report for a period of forty seven (47) years (1970-2017). The conventional unit root test based on ADF revealed that variables have unit root at level and become stationary after taking their first difference and they are concluded to be integrated of order one I(1). Regression analysis indicates that private sector credit is positively related to Economic growth and domestic private investment and negatively related to interest rate spread, while Johansen cointegration analysis revealed the existence of a long run relationship between private sector credit, interest rate spread and economic growth. Granger causality analysis revealed the presence of one way causation between private sector credit and economic growth (though at 10% level of significance) and another one way causation was found to be stemming from private sector to interest rate spread which is also at 10% level of significance. The study recommends for policies that will strengthen the impact of private sector credit on economic growth, this includes the making available of credit to the producers of output domestically rather than the extension of credit to the high and risky ventures such as the importation of final products which appears to have a high return. Government should also adopt a flexible interest rate that will attract investor and reduce the wide margin between borrowing and lending rates. There is also the need for the formulation of policies that will reduce the transfer of borrowing and credit costs on borrowers alone which discourages borrowing for investment purposes. Deposit money banks and regulatory agencies should intensify their supervision on investment in the specific venture that attract loan from their institutions and to ensure that the credit that was granted for investment is truly utilized for that purpose which will augment causation of investment on economic growth in Nigeria.
Keywords: Private Sector Credit, Interest Rate Spread, Economic Growth, Cointegration, Causality.
TREASURY SINGLE ACCOUNT (TSA) AND ACCOUNTABILITY OF PUBLIC FUNDS IN NIGERIA: EVIDENCED FROM FEDERAL POLYTECHNIC BAUCHI
ELKHOMUN DANIEL EHI, AYANWUYI JOHNSON & ODUMEGWU EMMANUEL CHIJIOKE
Department of Accountancy, Federal Polytechnic Bauchi, Nigeria
This study looks at treasury single account and accountability of public funds in Nigeria. The main objective of this study to examine the effect of treasury single account on accountability of public funds in Nigeria. The populations of the study consist of 54 staffs of the bursary office of the federal polytechnic Bauchi. A total of forty-eight (48) questionnaires were distributed to the sample staffs of the bursary office of the federal polytechnic Bauchi. The sample size is arrived at using Yarmani formula. The researcher used survey design to extract information for the purpose of the research. Three hypotheses were formulated and data were analyzed using descriptive statistics and regression analysis using statistical package for social science ( SPSS) version 20 and findings reveals that TSA has significant effect on accountability. Based on this, it was recommended that; strong management policies should be developed and such policies be supported with training and guidance because they are vital in maintaining the effectiveness of the strategy.
Keywords: Treasury Single Account, Accountability, Public Sector, Nigeria.
THE ROLE OF AGRICULTURAL MARKETING IN ENHANCING HOUSE-HOLD FARMERS’ INCOME IN LESS DEVELOPED COUNTRIES (A DESCRIPTIVE PERSPECTIVE)
ASORE, E. PATRICIA
Department of Marketing, Auchi Polytechnic, Auchi, Edo State.
The main objective of the study is to determine the role of agricultural marketing in enhancing house-hold farmers’ income in less developed countries. Other objectives are to determine the major constraints influencing the marketing of agricultural produce in Nigeria. To proffer solutions /remedial actions to address the problems associated with agricultural marketing in less developed countries and improvement in house hold farmer’s income in Nigeria and other less developed countries. Concerning the methodology, it is written from a descriptive perspective. The importance of agricultural marketing to an economy are shown to include the following: Foreign exchange earnings from agricultural exports, optimization of resource use and output management, increase in farm income, widening of markets, growth of agro-based Industries, adoption and spread of new technology, employment creation, creation of utility and many others. Findings show that some of the problems militating against the effective marketing of agricultural produce in less developed countries include lack of transportation facilities/ problem of produce collection, poor quality of produce, long chain of middlemen, lack of credit facilities, inconsiderate revenue collection, inadequate storage capacity and warehousing facilities, lack of uniform standards and grading, and lack of information about production and marketing. Amongst the recommendations to improve agricultural marketing and financially improve the lot of house hold farmers include the following: the various governments (both federal and state) and members of the organized private sector should provide solutions by making available good means of transport for evacuating the produce from farms to consumers, encouraging the farmers to engage in internet sales (e- commerce in agriculture) and organic and contract farming which can bring in more and regular income; providing market/ marketing information, providing marketing linkages to the farmers, and creating farmers’ markets/ food hubs for the farmers to market their produce and make more money for their upkeep and those of their family members.
Keywords: Agricultural marketing, Marketable surplus, foreign exchange earnings, value addition, internet sales, contract farming, and Marketing.
WORKING CAPITAL MANAGEMENT COMPONENT AND FIRM PROFITABILITY: AN EMPIRICAL ANALYSIS
AZA, IBRAHIM EYIGEGE
Accounting Department, Federal Polytechnic, Nasarawa, Nasarawa State, Nigeria.
This study investigates the relationship between working capital management in terms of account receivable, account payable, inventory conversion period cash conversion cycle, firm size, liquidity, financial leverage and corporate financial performance of oil and gas companies listed on the Nigeria Stock Exchange. The study utilizes an expost-facto research design using panel data for the period of five years covering 2013-2017. Population of the study is the twelve companies listed on the Nigeria Stock Exchange. Purposive sampling method was used to select eight companies having consistent data set for the study period. Panel regression analysis was used in analyzing the data. The study found significant influence of account payable and inventory conversion period on the profitability (ROA) and there is no significant influence of account receivable, cash conversion cycle, firm size, liquidity and financial leverage on the profitability (ROA) of oil and gas companies listed on the Nigeria stock exchange. The study therefore concludes that account payable and inventory conversion period are the major determinants of profitability of oil and gas companies listed on the Nigeria Stock Exchange. The study therefore recommends that management of oil and gas companies should intensify effort to ensure that debtor’s payment period is reduced to the bearest minimum, creditors settlement period is extended, inventory conversion period should be minimized, cash conversion cycle should be effective and also to ensure the growth and expansion of oil and gas companies, ensure adequate liquidity position of those companies and also ensure minimum or non interest rate on external borrowing.
Keywords: inventory, conversion, intensify, consistent, influence
THE CHALLENGES FACING MICRO AND SMALL ENTERPRISES IN ACCESSING BANK CREDIT IN NIGERIA
DANLADI IBRAHIM MUSA1, USMAN SHUAIBU2 AND ABU-UBAIDA IBRAHIM KUNA3
1Department of Banking and Finance the Federal Polytechnic Damaturu, Yobe State. 2Department of Business Admin, & Management, the Federal Polytechnic Damaturu. 3Department of Accountancy, Gombe State Polytechnic Bajoga, Gombe State.
This paper is to assess the challenges facing micro and small enterprises in accessing bank credit in Nigeria. The major objective of this paper is to critically to make identify the challenges facing micro and small enterprises in accessing bank credit in Nigeria. The use of primary and secondary data was adopted were consulted. Some of the identified challenges that micro and small enterprises are facing in accessing bank credit include: There is high interest rate charged on loan granted by financial institutions to MSEs, Lack of possession/ownership of adequate collateral hinders access to bank credit by MSEs and Inability to provide required documents reduces the chance of getting access to bank credit. At the end, summary, conclusion and recommendations are made such as Maintaining a bank account with any of the financial institutions will also help the MSEs to have easy access to credit facilities thus serving as a guarantee that the MSE will be able to pay the credit back in time.
Keywords: Challenges, micro and small enterprises, MSEs, accessing, credit
AMBIVALENT OF POWER DISTRIBUTION IN TOP MANAGEMENT TEAM HETEROGENEITY AND STRATEGIC CHANGE
ABDUSSALAM AGBEYANGI FUNSO1, OLANREWAJU ISIAKA ANAFI2 & DARE ISMAIL3
1Department of Business Administration and Management Science Studies, Institute of Finance and Management Studies, Kwara State Polytechnic, Ilorin. 2&3Department of Marketing, Institute of Finance and Management Studies, Kwara State Polytechnic, Ilorin
When it comes to discussion about top management team heterogeneity, power distribution, psychographic analysis and decision quality are established job factors. However, the preponderance of power distribution in the deployment of strategic leadership position and overall performance of an organization that makes it distinct from other job factors needs to be unveiled. This paper, therefore, sought to map out several issues that influence power distribution in the organization within the ambit of interplay of forces in the system. Three by three matrixes was generated for each organization considered while the results were subjected to test using chi-square, regression analysis and correlation analysis. It is safe to conclude that a healthy spread of power within the internal environment of an organization brings about a peaceful resolution of power ambivalent.
Keywords: power distribution, strategic change, top management, power domain and strategic deployment
MARKETING COMMUNICATION AND ITS IMPACT ON WORKERS’ PRODUCTIVITY IN MANUFACTURING FIRMS IN KADUNA
BELLO, BABATUNDE SIKIRU1; OZIMEDE, ELIZABETH I.2; GATA, ELIZABETH3 & NWOKENKWO, BEN OLUBUNMI4
1&4Department of Marketing, Federal Polytechnic, Bida Niger State. 2&3Department of Business Administration & Management, Federal Polytechnic, Bida Niger State
This study is aimed at evaluating Marketing communication and its impact on workers’ productivity in manufacturing firms in Kaduna, North Central Nigeria. The study aims to examine if marketing communication enhances good working relationship in manufacturing firms as well as examine if there is any way by which marketing communication can help increase the profit and market share of manufacturing firms. The research design used in this work is exploratory research due to its flexibility and ability to eliminate impracticable ideas. The study population consists of 70 workers drawn randomly from 2 major manufacturing firms in Kaduna metropolis (Rigid Containers Limited. 33 and Jaykay Carpet Industry 37). Simple random sampling method was used for all-inclusiveness of the target audience. Both primary source (structured questionnaires) and secondary sources (journals, books and other relevant records of the firms) were contacted. Data collected were analyzed with tables and simple percentage with chi-square test used to test the hypotheses formulated. Taro Yamane method was used to determine the sample size due to its efficiency. A major findings revealed that Result of findings indicate that firms can utilize marketing communication to improve workers’ productivity. Establishment of effective communication channels between buyers and sellers is a pre-requisite of success in manufacturing firms. It was concluded that a relationship exists between the concept of marketing communication and worker’s productivity. It is worthy to note also that if a strong marketing communication is in place, workers will be more productive, more efficient, and more effective in carrying out their duties. The study recommends among others that manufacturing firms should have a clear expectations and a clear marketing communication in the sense that effective marketing communications helps to establish clear expectations for workers and perhaps customers as well. For workers, clear expectations will convey how their productivity will impact the firm and give them an indication of what they need to do to achieve positive feedback.
Keywords: Marketing communication; Impact; Productivity; Workers’ productivity; Manufacturing firms
EFFECT OF COVID-19 ON CORPORATE SOCIAL RESPONSIBILITY (CSR) REPORTING IN NIGERIA.
IRIABIJE EMMANUEL UAREME, AYANWUYI JOHNSON, FARAYOLA, AYO ADE
This study examines the effect of covid-19 pandemic on corporate social responsibility (CSR) report of companies in Nigeria. The study used survey research design and utilized primary data collected from selected first tier deposit money Banks in Bauchi metropolises. The sample of the study was selected through a combination of random sampling techniques of the first tier Deposit Money Banks and their size. The data were analysed using Anova. The result reveals that covid-19 pandemic has significant positive impact on corporate social responsibility cost and subsequently the report. The study recommends among others that listed companies should increase the spending on corporate social responsibility in order to enhance the welfare of the employees, customers, communities and other stakeholders especially in time of pandemic or natural disasters. Also, Securities and Exchange Commission (SEC) should establish a social reporting index (SRI) and ensure mandatory compliance by companies in order to encourage them to increase their commitment to social responsibility investment.
Keywords: Corporate Social Responsibility, Covid-19 Pandemic, Firms Financial Performance, Firms Size, Stakeholders Pressure.
LIMITATING FACTORS ASSOCIATED WITH THE DEREGULATION OF THE DOWNSTREAM SECTOR OF THE NIGERIA ECONOMY
OGBU UGONNA CHRIS COLLINS; & NNABUENYI CHRISTOPHER CHUKWUNONSO
Department of Public Administration, Federal Polytechnic Oko
In the history of Nigeria, deregulating the downstream oil sector through gradual or total subsidy removal has engendered intense debate in Nigeria with the government claiming that it will guarantee long term stability in product supply and price. As a result, this will lead to an advance and well developed economic transformation in the country. According to this study, the necessity for total deregulation of the downstream oil sector in Nigeria as a remedy to economic recovery of the country is addressed. This study also examined some of the problems that are facing the deregulation of the downstream oil sector in Nigeria, which are continuous increase in petroleum price, scarcity of petroleum product and so on. In a nutshell, these are the foremost problems that are confronting the deregulation of the downstream oil sector which government has to help solve through abundant provision of fuel and ensure products price control. It is discovered in the course of this research some of the objective which will be of benefit in the total deregulation of the downstream oil sector which includes, assessing the pattern of petroleum products pricing in Nigeria, examining the consumption pattern of petroleum products before and after the deregulation, investigating the effect of the deregulation of downstream oil sector on petroleum products pricing in Nigeria, examining the likely effect of the total deregulation of the downstream oil sector on the living standard of the people across the country and investigating how total deregulation of the downstream oil sector can be of high impact on the speedy recovery of the Country’s battered economy. Also the study bought to bear the reason why partial deregulation has not yielded the desired result in terms of prices and supply. Data was collected and used in this research work, as it is an important tool to unlock new discovery in any research study. Primary data was collected through structured interview from 342 respondents via administering of questionnaires. Survey method with the use of questionnaire was adopted in collecting data. The data was presented using tables while the mean (x) and simple percentage (%) were used in the analysis of such data. The findings and conclusion in the research work were also discussed, displaying that without proper management, control and investment the revenue generated from complete deregulation of the downstream oil sector will be squandered by corrupt government stakeholders.Also, there is fuel subsidy and there is a call on its removal proximately after all the necessary measures might have been put in place to avoid risks and control its effects on Nigerians, in order to make it work successfully as expected.
ORGANIZATIONAL CULTURE, WORKPLACE BULLYING AND EMPLOYEES DEVIANT BEHAVIOUR IN SELECTED HIGHER INSTITUTIONS IN ADAMAWA STATE: A PROPOSED FRAMEWORK
HAUWA ADAMU DUHU1, ADAMU AHMED GIREI2 & JAMILA NUHU WAKILI3
1Department of Purchasing and Supply, Federal Polytechnic Mubi 2&3Department of Business Administration and Management Federal Polytechnic Mubi
Deviant workplace behaviors of employees are directly harmful to the organization or to other employees in the organization that can range from relatively minor to very serious. Deviant workplace behaviors have a multiplier effect on institutional sustainability and growth as it determines success in the dynamic and technology driven environment. The proposed model suggests significant interaction between organizational culture, workplace bullying and deviant workplace behaviour. The model will contribute to a better understanding of an interaction between organizational culture and employees’ deviant workplace behaviour in Nigeria and other developing nations. The practical implication of the study is that public higher institutions administrators, and regulatory agencies such as the National Board for Technical Education (NBTE) and the National Commission for Colleges of Education (NCCE), Faculty and department staff stand a chance to benefit from the outcome of the study, it will also help in understanding the effect of organizational culture in their respective institutions in order to minimize the deviant workplace behaviour among its employees as well as the moderating role of workplace bullying on the relationship between organizational culture and workplace deviant behaviour. It is suggested that an empirical investigation should be carried out in future.
Keywords: Employees Deviant Behavior, Organizational Culture, Workplace Bulling
THE RE-EVALUATION OF TAX BUOYANCY IN NIGERIA: A TRADITIONAL AND PARTITIONING APPROACH
*ABIOLA BOLAJI IBRAHIM; **AFOLABI MUTIU ADENIYI; & *YAHAYA ALIU BABATUNDE
*Department of Accountancy, Federal Polytechnic Offa, Kwara State. **Department of Banking & Finance, Federal Polytechnic Offa, Kwara State.
This study re-evaluates tax buoyancy in Nigeria. It specifically examines the impacts of various tax components (company income tax, petroleum profit tax, custom excise duty, and value added tax) in relation to gross domestic product. Experimental and descriptive research techniques were adopted to analyse annual time series data from 1981 to 2019 that was obtained from Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS). Augmented Dickey Fuller (ADF) unit root test was conducted to determine variables’ order of integration, optimal lag order was determined using Akaike Information Criterion (AIC) while long-short run analysis was carried out using Vector Error Correction Model (VECM). The study revealed that Nigeria tax system is not buoyant for the period under review. By decomposing tax into total buoyancy, tax to base and base to income, the study discovered that tax to base and base to income coefficient are poor, indicating non-progressiveness of the country tax structure. It further revealed that in the short run and long run, a non-buoyant tax system decreases revenue generation and result in slow recovery rate of the economy. It was recommended that tax authority should raise the penalty for tax avoidance, tax evasion and other tax frauds to make tax manipulation becomes less attractive and should put in place efficient and accountable tax collection system to prevent fraudulent practices by the stakeholders.
Keywords: Tax Buoyancy, Tax Elasticity, Tax Revenue, GDP, Nigeria.
RELATING THE SMART GOALS COMPONENTS IN ASSESSING THE SUCCESS OF THE FOOD SECURITY INITIATIVE IN NIGERIA: AN EVALUATION OF THE FOUR COMPONENTS OF FOOD SECURITY IN NORTH EAST NIGERIA
1SADEEQ GARBA ABUBAKAR; & 2YUSUF OVA MUTALIB
1Department of Business Administration and Management, Federal Polytechnic, Bauchi, Bauchi State, Nigeria. 2Department of Accountancy, Federal Polytechnic, Bauchi, Bauchi State, Nigeria.
Food Security is defined as “assuring the availability and price stability of basic foodstuffs at the international and national level.” The World Food Summit agreed “ that food security exists when all people, at all times, have physical and economic access to sufficient, safe and nutritious food that meets their dietary needs and food preferences for an active and healthy life.” Globally, countries agreed/adopted the initiative. This study is to assess the global food security initiative in Nigeria by adopting the four cardinal components of the Smart Goals as bench marks to determine how far the country had achieved food security based on the initial set goals. The research design adopted the external desk research approach using extensive data from previous research on the subject of food security in Nigerian north east. The analysis of data suggests a negative viewpoint that the objectives of the food security initiative could hardly be achieved. The findings indicated the incidence of insufficient food production due to the dearth of infrastructural facilities, civil conflicts/insecurity, which posed serious challenges to the achievement of food security. Nigeria as a country might not easily achieve the objectives of the food security initiative with the prevalent increase of food shortages caused by the insecurity in the Northeast Nigeria. It was posited that the country should re-evaluate its strategies in implementing the food security initiative based on its peculiarities, challenges, current realities, and possibly within the global standard and time frame. The enabling environment must be created to achieve the desired goals based on the current actualities in each country while taking cognisance of the global standard. There ought to be SMART goals criteria that would provide a clear and objective framework for setting and managing goals. The use of properly constructed criteria to serve as credible and usable yardsticks by which results can be monitored and evaluated is a key factor that should be considered, hence the recommendation for the adoption of the smart goals OITT goal framework or any other similar framework organized for the purpose.
Keywords: Food Security Initiatives; Smart Goals Components & frameworks; Peculiarities; Challenges; Global Standards.
EFFECTS OF EDUCATION CRISES ON SOCIO-ECONOMIC DEVELOPMENT IN NIGERIA
GIDEON, VICTOR OLORUNFEMI, Ph.D & AGABA, ADAH EKOJA
Nigerian Institute of SocialaAnd Economic Research
Nigeria has experienced a lot of crises in her education sector. The basic and the secondary schools are meant to lay solid foundations for the tertiary institutions. The crises in education sector have negative effects not only on the tertiary institutions but also on manpower and socio-economic development. The occurrence of several crises has turned education to crises ridden sector in Nigeria. This study focused on education crises, its manifestations and effects in Nigeria. Education crises manifests itself inform of examination malpractices, secret cults in schools, poor performance, lack of quality assurance and abandoned projects in the sector. The negative effects of education crises are outlined and recommendations to address the menace of education crises are made.
Keywords: Education, Crises, Effects, Development, Nigeria.
GOING BEYOND TRAINING TO ACHIEVING DEVELOPMENT: A POSSIBILITY FOR ADDING VALUE FOR ORGANIZATIONAL SUCCESS
OKEKE RAYMOND NJELITA; CHUKWUEZI FRANKLIN NZUBECHUKWU; & OSUAGWU CHARLES CHIBUEZE
Department of Business Administration and Management, Imo State Polytechnic, Umuagwo
Training without development has remained a major challenge facing organizations in their bid to acquire long term knowledge that will match the modern day changes in their industry environment. As remaining fixed to yesterday’s skills and methods of manufacturing, tools, techniques, mind sets and attitudes is a prescription for failure. This places a great burden on organizations’ human capital – skills, knowledge and ideas possess by employees. Using a large sample size of Six Hundred and Ten (610) respondents the questionnaire was in line with 5 points Likert scale. The correlation coefficient statistics was to establish significance. The findings of the work are that the correlation coefficient of training without development is statistically significant. The findings show significant effects of training without development on employee adaptability. The work concluded that training without development hinders employee capacity to adapt to industrial changes.
Keywords: Training without development, employee adaptability, industrial environment, organizational changes, management