URBAN FRINGE MANAGEMENT AND ROLE OF GOOD GOVERNANCE: A CASE OF ABUJA

Olabode Bashir Olakunle; Elegbede .O.T and Babatunde, L.O

Department of General Studies, The Polytechnic, Ibadan, Saki Campus

Department of Estate Management, The Polytechnic Ibadan, Saki Campus

Department of Architectural, The Polytechnic, Ibadan, Saki Campus


EFFECTS OF MONEY SUPPLY AND EXCHANGE RATES ON INFLATION IN NIGERIA

Umeora, Chinweobo Emmanuel

Department of Banking and Finance

Anambra State University, Igbariam Campus

ABSTRACT

This study examines the effects of money supply (M2) and Exchange Rates on Inflation in Nigeria for the period of 28 years ranging from 1982 to 2009. Annual figures were collated for Inflation Rates: money supply and Exchanges rates for the years under study. The figures were analyzed using Multiple Regression Analysis (with SPSS). A model was built with Inflation as dependent variable while money supply and exchange rate were the independent variables. Our results show that while Money Supply and Exchange rate were the dependent variables. Our results show that while Money Supply and Exchange Rate are correlated, each affects inflation in varying degrees. Money Supply and Exchange Rate are correlated; each affects inflation in varying degrees. Money supply has positive effect while exchange rate has negative effect. However the two account for only about 12% of the causes. That means that there are some other more important factors that need to be investigated. Such other factors may relate to government growing annual deficit budgets, increasing lending rates of commercial banks.

Keywords: Inflation, Exchange Rate, Money Supply, Monetary Aggregates, Cost-of-Living Index (COLI)


INVESTIGATING THE RELATIONSHIP BETWEEN VAT AND GDP IN NIGERIAN ECONOMY

Denis Basila

Department of Accounting

Adamawa State University, Mubi, Nigeria

denis.basila@yahoo.com

ABSTRACT

This study is an empirical investigation into the relationship between Value Added Tax (VAT) and Gross Domestic Product (GDP) in Nigeria. This research is significant for planning and policy formulation as regards revenue generation. A data based on VAT revenue figure and GDP figure from 1994 to 2008 obtained from Central Bank of Nigeria’s statistical bulletin, 2008 was collected and used. GDP and VAT figures for the period of study are tested for correlation. The test revealed a strong Pearson’s Product Moment Correlation (PPMC) at about 96 per cent strength. Further, a test of significance confirmed that VAT revenue is significantly different at 99 percent confidence level in relation to GDP. This implies that VAT is not effective as revenue earner, in the sense that significant parts of GDP which represent aggregate national income as well as aggregate national expenditure are not collected as tax. Therefore, the recommendation by this study includes maintenance of the status quo as it could suggest support to the economy and convenience principles of taxation.

Key words: Investigating, VAT, GDP, Nigeria.


CAPITAL REGULATION AND THE PERFORMANCE OF THE NIGERIAN BANKS: NEED FOR REVIEW

Oladejo, Morufu O

Department of Accounting,

 Olabisi Onabanjo University, Ago – Iwoye, Ogun State, Nigeria

E-mail: moolad02@yahoo.co.uk

ABSTRACT

The banking sector reforms have been acclaimed to be necessary but the question is whether they yielded anticipated result. Economists differ on the level of government intervention in the economy, particularly on regulation imposed on the financial intermediaries. While some believe that many regulations are necessary in order to protect the depositor’s funds, other believes that the banks are over regulated. Although the regulatory supervision of bank was expected to bring order to the chaotic situation that had developed in financial sectors since the late 1980s, the extent to which this has been archived is a subject of debate. The reform also has implication for the Nigeria deposit insurance corporation (NDIC).Therefore this paper seeks to explore various   implications of capital regulation on the performance of the Nigeria banks with a view to proffer solutions to problems. The study adopts largely an exploratory methodology and submitted that though reforms of banks becomes necessary, there is a limit to which banks should be regulated on the issue of capital adequacy .The paper argued that consolidation arising from the  recapitalization of banks brought about lots of problems that may mar the aim of the reform if not properly approached.


THE NEED OF STRATEGIC MANAGEMENT PRACTICE IN A COMPETITIVE BUSINESS ENVIRONMENT (A MANAGEMENT FEELING TO OUTSMART-BUSINESS RIVALS

)

Mohammed Abubakar Ababa and Ibrahim Abubakar Mikugi

Department of Business Administration and Management

The Federal Polytechnic, Bida, Niger State, Nigeria

ABSTRACT

Globalization and changes in the system of doing business as called for a rethink by business managers on best practices to be adopted in order to with stand changes that may occur. Strategic management is a strategy and technique use by business owners in order to out-smart the competitors in an environment they operate. This paper examines the need for strategic management practice in a competitive business environment. The methodology used by researcher of this paper was a theoretical approach through a descriptive studies and analysis. It dwells on the theoretical frame work and analysis of five task of strategic management process which include; developing strategic vision, setting objective, crafting a good strategy, implementing strategy, evaluating performance and corrective actions. Conclusions were drawn and recommendations given to include the need for business owners to adopt the practice of strategic management to with stand changes in their business as well evaluation of performance to detect deviations from target objectives.


INTERROGATING ISSUES IN GOVERNANCE AND THE CRISIS OF DEVELOPMENT IN AFRICA

Beetseh Kwaghga

Library Department

 Federal University of Agriculture, Makurdi

e-mail: beetsekwaghga@yahoo.com

ABSTRACT

This is paper argues that, African states have been experiencing a deepening crisis of development and this is easily linked to the absence of good governance in a continent that is highly blessed with natural and human resources.  It thus appears as if African’s plethora of problems like poverty, hunger, diseases, political upheavals, deprivations, etc are irredeemable given the nature of governance that is characterize b poor leadership, corruption and mismanagement of resources.  To resolve this problematic of leadership that is destroying the development process in Africa, the paper recommends leadership re-orientation, introduction of African unified anti-corruption policy; a reform of the political system and efficient management of resources of engender good governance and development on the African continent.


ISLAMIC FINANCE, AN ALTERNATIVE STRATEGY TO PROJECT FINANCE AND

INFRASTRUCTURE DEVELOPMENT: OPTION FOR NIGERIA

Hamisu Ibrahim

Department of Business Administration

Kwararafa University, Wukari, Taraba State

ABSTRACT

Islamic finance is based on principles of Shariah or “Islamic law”. The major principles of shariah are ban on interest, a ban on contractual uncertainty, adherence to profit/ risk sharing, promotion of ethnical investments that enhances society, and asset backing. The international market for Islamic finance is growing at the rate of 10-12% annually and through international and regulatory bodies, there has been effort to standardize regulations in Islamic finance across different countries and institutions. Nigeria with a growing population of over 140 million require huge funding to provide critical infrastructure to cater for its teeming population  which is not forth coming from the conventional financial institutions. The finding shows that, due to the recent global financial crisis, conventional financial institutions were reluctant to provide funding for infrastructural development to both developed and developing economies. Alternatively, Nigeria can utilize cheap funding option through Islamic financing instruments as Sukuk (Islamic bond) and Mushakarah (Partnership/Joint venture), a non- interest instrument which can provide much needed finance for the development of critical infrastructure as well as collaborating with Islamic development bank to access free donation and non- interest loan for investment in infrastructure which is critical in achieving the target of the millennium development goals. Based on the findings, the following recommendations were made; that the central bank of Nigeria should establish the National Shariah advisory council which  would be responsible for guiding Islamic financial institutions in Nigeria, as they emerge, to ensure  that their activities fully comply with Shariah principles; and also conventional financial institutions willing to  continue rendering Islamic products and service to customers in Nigeria would also be advised by the council on ways to ensure that the product and services they specifically design for their customers are Shariah compliant.    


MANAGEMENT OF GLOBAL ECONOMIC CRISIS IN NIGERIA: LESSONS FROM SOUTH AFRICA

Eme Okechukwu Innocent and Nzekwe, Ifeoma Florence

Department of Public Administration

University of Nigeria, Nsukka

E-mail: okechukwunncnt@yahoo.com

ABSTRACT

The effect of the global economic crisis on the African continent is multidimensional. It is enveloped in both external and internal factors, which has further complicated the escape routes for the continent. In a highly integrated and global world though an imbalanced one, the developed societies wield preponderance of the economic-political power which gives them an interdependent states, while developing polities who are not favoured by the present international economic order gets a dependent status. With the present global economic meltdown, the economic configuration of the world system has once again been exposed, questioned and attempts are make to restructure. The African continent especially Nigeria and South Africa are responding to this crisis from different perspectives. This paper explores Nigeria’s responses to the crisis and the lesson to be drowned from South Africa. This paper posits that present economic meltdown poses a major challenge for Africa leaders to contest and change their dependent status in the international economic order. This paper concludes by posting that Nigeria needs focused, determined and sincere leadership that would transform the continent from a dependent polity to a truly self reliant and productive polity like South Africa.

Keywords: Economic meltdown, Dependency, Recession, Financial crisis, Inter-dependent.


SIGNS OF BAD LOANS TO AVOID IN ENHANCING THE NIGERIAN ECONOMY

1Ihenyen, C; 2Oguah, A.C; 3Aigbomian, S.E and 4Osayomwanbor, P

1,2,3Department of Business Administration and 4Department of Office Technology & Management

Edo State Institute of Technology & Management, Usen, Nigeria

E-mail: djgrandmasdter@yahoo.com

ABSTRACT

Loans can be a business booster if it can be obtained as at when due and on terms that may not be too harsh on the borrower. The financial institution is the main driver of the commerce and industrial sector and if the sector is sick every other sectors of the economy will be sick as well. For some years now the rating of the Nigerian financial Institutions has been wonderful, but in spite of the Nigerian banking sector rating it has not actually stabilize the banks. The bane of this has been the issue of toxic and non-performing loans. This has made loan become scarce for the average Nigerian to obtain. What are the signs to look out with respect to these bad loans? That is the focus of this paper to know when a loan is a bad loan and to avert such.

Keywords: Financial Institution; Sectors; Nigeria Banks; Non-Performing Loans


ANTIBACTERIAL ACTIVITIES OF Acacia nilotica SEED EXTRACTS

Yabaya A1* and E. D. Silas2

1Department of Microbiology, Kaduna State University, Kaduna

2Nationa Research Institute for Chemical Technology, Basawa, Zaria

amosyabaya@gmail.com

ABSTRACT

Antibacterial activities of the crude extract of Acacia nilotica seeds using methanol, chloroform, ethyl acetate and water as solvents were tested on Klebsiella pneumoniae, Shegella dysenteriae and Staphylococcus aureus. These strains were clinical isolates and confirmatory biochemical test were conducted. The phytochemical analyses of the seed extracts indicated the presence of alkaloids, flavonoids, glycosides and steroids. Disc diffusion method was used to examine the bacterial susceptibility of the extracts. There were various zones of inhibition by the different extracts. Methanolic extract inhibited the growth of Klebsiella pneumoniae at 90 and 120 mg/ml (2.0 and 4.3mm respectively), Shegella dysenteriae was inhibited at 60 to 120 mg/ml (1.0, 3.5 and 4.1 mm respectively).Staphylococcus aureus was inhibited at all the concentrations. The trend of extract inhibition was similar in the chloroform and ethyl acetate while the water extract inhibited the three microorganisms at all the four levels of concentrations. There is an indication that the plant could be used to advanced medical practice.

Key words: Acacia nilotica, Phytochemical, Antibacterial activity, Seed extracts


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