Madonna Journal of Administration and Management Sciences (MJAMS)

Foreign Private Investments and Real Gross Domestic Product in Nigeria

EDEM LAWRENCE MARK, Ph.D — 2024-12-12

The study which covered the period spanning from 1981 to 2020 (40 years) examined the impact
of foreign private sector investment on Nigerian economy. The study specifically explored the
impacts of foreign private sector real investment (FPSRI) and foreign private sector portfolio
investment (FPSPI) on the Real Gross Domestic Product (RGDP) of the Real Gross Domestic
Product (RGDP) of Nigeria. The data for the study were sourced and obtained from the Central
Bank of Nigeria (CBN) Statistical Bulletin and World Bank Database from 1981 to 2020.
Econometric techniques of unit root, integration, ARDL regression, error correction model were
employed in analyzing the data. The results showed that foreign private sector real investment
(FPSRI) exerted significant positive impact on real gross domestic product (RGDP) growth during
the period studied where as foreign private sector portfolio investment (FPSPI) exerted significant
negative impact on RGDP growth both short and long runs. The study recommended that monetary
and fiscal policies should be geared toward improving foreign private sector investment most
especially, foreign real investment to boast economic growth in Nigeria.

Global Gas Marketing Dynamics and the Nigerian Economy

Ifediba, Emmanvitalis Emeka, Ph.D, BL, LLB — 2024-12-14

Nigeria, a member of OPEC since1971, boasts of substantial crude oil reserve of 37.1 billion barrels at the start of 2023, with a production capacity of 2.5million barrels per day. The country heavily relies on crude oil production as a cornerstone of its economy, constituting a significant source of foreign exchange. The study examined the impact of global gas marketing dynamics on the Nigeria economy. The study employed the use of descriptive statistics while hypothesis were tested using t-test statistical tool, cronbach’s alpha coefficient test. Twenty (24) copies each of the structured questionnaires was distributed to three (3) gas marketing firms namely; Haris Gas, NNPC Gas, Jezco Gas and two SME’S respectively and twenty (24) copies each making a total of one-twenty (120) copies. The finding shows that global gas marketing has significantly improved the Nigeria economy, indicating that domestic gas market and export gas market have significant positive effect on the economic growth of Nigeria. The researcher recommended building a solid infrastructure for the storing, distribution and transportation of gas must be Nigeria's top priority while focusing on leveraging natural gas resources to drive economic growth. The government should make the gas pricing regime conducive for companies intending to go into gas exploration. This is to ensure gas is able to compete healthily with other alternative sources of energy.

Skill Acquisition Policy and Human Capital Development: Case of Federal Science and Technical College, Uromi, Edo State

SAMSON E. OBAMWONYI, Ph.D. — 2024-12-16

The study examines the relevance of skill acquisition to human capital development. The impact the skill acquisition policy has made on the target beneficiaries in particular and the society in general was critically assessed. How skill acquisition can bring about improvement in the wellbeing of individuals in societies was also brought to the front burner. Developmental state theory was used to buttress the study. The Federal Science and Technical College, Uromi, Edo State, was used as case study. Personal interview method was applied for the study. Relevant staffs such as the principal, coordinator, and technical teachers who head the technical sections in the College were interviewed. Findings show that the policy failed to make meaningful impact on the target beneficiaries due to poor implementation of the policy. The reasons responsible for the poor implementation were identified. For example, there was total lack of equipment for practical training and teaching in most of the departments/units; those available were totally outdated and inadequate while practical sessions were conducted only once a week and mere two hours were devoted to practical sessions. Some recommendations were put forward such as the need for government to equip the workshops with necessary tools and equipment; and the need to devote at least three days, instead of two hours a week, for practical sessions, and technical teachers or principals should head technical colleges.

Innovation and Economic Growth in Nigeria (2013 -2022)

EZENWAKWELU, GODFREY CHINWEOBI — 2024-12-16

Innovation has been viewed as one of the major drivers of economic growth but its exact effect is still a topic of debate among researchers. Innovation contributes to new products, services, processes, new product improvements and new business models. Any country or business venture, that has innovative culture in place can grow without difficulty. This is notwithstanding the fact that the innovative process is not always easy. This study investigates innovation and its effect on economic growth in Nigeria for the period 2013-2022. Ex post facto research design is employed, using secondary data sourced from WDIs, WIPO Statistics, CBN Statistical Bulletins, NBS and GII 2022. Generalized Method of Moments (GMM) regression analysis is employed to ascertain the effect of innovation on economic growth. The estimation was done with the aid of EViews version12.The results show that patents, trademarks, industrial designs and research and development expenditures do not have any significant effect on economic growth in Nigeria. The inflation rate as one of the control variables indicates a significant negative effect on economic growth, while tertiary school enrolment as proxy for human capital development, and foreign exchange rate do not show any significant positive effect on economic growth for the period covered by this study. The conclusion is that innovation does not drive economic growth in Nigeria. The policymakers should reassess the existing innovation policies and strategies and consider alternative approaches that would encourage innovation to promote economic growth in Nigeria

National Health Insurance Scheme and Enrollees’ Health Care in Federal Capital Territory, Abuja (2012-2023)

APEH PAULINA ELEOJO, Ph.D — 2024-12-16

This paper examines the Impact of National Health Insurance Scheme on Enrollees’ Healthcare in Federal Capital Territory (FCT), Abuja. The study used both primary and secondary methods of data collection to obtain non-confidential records of NHIA enrollees in six selected Hospitals in FCT. The primary data was generated through a 5-point Likert scale questionnaire format; administered to 398 enrollees in NHIA Centres in FCT, Abuja. Descriptive and inferential statistical tools of analyses were used for data analysis. Percentages were used to describe the demographic data and research questions while Chi-square was used to test the hypotheses. The findings of the study revealed that NHIA has not significantly impacted on enrollees’ healthcare in FCT, Abuja. It was discovered that access to quality and affordable healthcare services among enrollees is constrained by non-realization of the NHIA objectives, inadequate public enlightenment, inadequate satisfaction of healthcare management information system, unavailability of drugs, total exclusion of treatment of certain critical ailments, inadequate sensitization of authorization codes and delay and long awaiting time by enrollees to access healthcare and inadequate institutionalization of total quality management of healthcare facilities. This study recommends that there should be urgent realization of the NHIA objectives towards enrollees healthcare; NHIA Pharmacies in FCT, Abuja should be equipped with drugs to prevent enrollees from buying prescribed drugs from private outlets at exorbitant prices; process of obtaining authorization codes and service forms should be digitalized with effective ICT and decentralized in NHIA Public Hospitals Centres respectively. There should be public enlightenment campaign by government on quality and affordable healthcare. Also, there should be institutionalization of total quality management of healthcare facilities through NHIA Council.

Micro Economic Variables and the Performance of Capital Market in Nigeria (1999-2021)

FAITH OKETE — 2024-12-16

The Nigerian capital market has witnessed obvious transformation over the years, evident by the increased level of participation of the private and public investors at the floor of the stock exchange and in various public offers of quoted companies. The emerging market has also attracted and embraced the attention and the interest of international investors, thus increasing capital inflow. The overall market capitalisation had risen from 1,698.1 million naira in 1999 to 7030.8 billion naira in 2021, thus signifying an increase within the period. Transaction at the floor of NSE has risen to a total of 685716.2 million naira in 2021 from a previous value of 16.6m recorded in 1990. From the result obtained, capital market has positive and significant impact on economic growth in Nigeria. The capital market variables captured in the model such as market capitalization, number of deals and value of transactions were all positive and significant in promoting economic growth in Nigeria. It is important that the government should implement policies that will make the market more efficient and re-position it for growth within the Nigerian economy.

Impact of Government Expenditure on Nigeria’s Gross Domestic Product

GBEGHA TAMARAUIKIYE FAVOUR — 2024-12-16

This study examines the impact of government expenditure on Nigeria’s gross domestic product between 2000-2022. The explanatory variables considered for this study include; agricultural expenditure, transportation/ communication expenditure, health expenditure and educational expenditure. The dependent variable is Nigeria’s gross domestic product. The study uses aggregate time series data from secondary sources. The study employs different econometric tools such as Unit root test, Augmented Dickey Fuller Test (ADF) Test,Autoregressive Distributed Lag (ARDL) Approach and Error Correction Model (ECM).The findings of the study have confirmed that government expenditure on various sector influence Nigeria’s Gross Domestic Product and follow established economic theories. Both Co-efficient of Determination as well as the F-statistic have established a good fit and joint significance of the independent variables on the dependent variable.The ECM results indicate that at the 66.70% speed of adjustment per annum the errors of the model corrected each period (each year). In other words, the speed implies that in the long run, 66.70 can be corrected after a number of periods (years) determined as follows: 100/66.70 periods (approximately1year 6months). The study recommends that; agricultural subsector which has a huge potential to stimulate economic growth in Nigeria should be supported by increasing government expenditure to the sector,the extent of government expenditure on Transportation/Communications sector should be sustained based on its positive impact on national real income, there is need to improve on government expenditure on health as high productivity in the economy can only be guaranteed with quality health conditions of workers and lastly there is need to sustain and increase government expenditures on education found to contribute positively and significantly to GDP.

Impact of Corporate Social Responsibility of the Anglican Diocese of Lagos West on Lagos State

AMOS OJO ADEDEJI, Ph.D — 2024-12-16

It is becoming increasingly clear that organisations can create wealth through the overall wellbeing of the community in which they are established. The study interrogated the impact of Corporate Social Responsibility (CSR) of the Anglican Diocese of Lagos West on Lagos State. The work used a mixed method which incorporates quantitative and qualitative method of data analysis. To achieve this, the study employed the use of questionnaire and personal interview with a view to getting suitable facts from the respondents. One hundred and fifty copies of questionnaires were administered. In addition, five stakeholders were interviewed to generate qualitative data for thematic analysis. The study found that Diocese of Lagos West is a shining light for other religious groups to follow in the area of corporate social responsibility as she has impacted positively on Lagos state. Nevertheless, a number of challenges were found to hinder the effectiveness of the program such as fund paucity, lack of vision, government insincerity and wrong perception among others. The study concluded by recommending revenue generation investment, encouraging more members to key into the program, formulation of friendly policies by the government and orientation of members of the church and community on corporate social responsibility among others.

Rural Transformation as Catalyst to Community Development in Nigeria: Wukari Local Government in Perspective; 2019-2023

ZIK TAKOSOSLE TUSAYI, Ph.D — 2024-12-16

The purpose of this study is to examine how rural transformation served as catalyst to development in Wukari Local Government of Nigeria from 2019 to 2023. To accomplish this noble objective, research questions were used to carry out the investigation through the use of primary and secondary sources of data. The researcher used simple percentage as presented in the table with descriptive analysis as a method of data analysis. From the study, it was clearly understood that inadequate financial support from both the state and federal governments served as hindrance to effective implementation of government policies towards rural transformation in Wukari Local Government. It is therefore recommended that financial support be increased to a reasonable percentage to enable local governments embark upon rural transformation in the state and Wukari Local Government in particular. Also, revenue allocation from the federation account should come directly to the Local Governments account for effective transformation.

Work-Life Balance (WLB) and Employee Effectiveness of Listed Microfinance Banks in Nnewi Metropolis

Ugwoke Chioma Appolonia, Ph.D — 2024-12-16

This study investigated the effect of work-life balance practices on employee effectiveness in listed microfinance banks in Nnewi metropolis, Anambra State, Nigeria. The study employed descriptive survey and correlation research design. The stratified sampling technique was employed to determine the sample frame. Structured questionnaire was used as primary instrument for data collection. Pilot study was carried out to obtain the reliability of the instrument through Cronbach Alpha Statistics value at 0.74%. Data analysis was conducted using descriptive statistics of mean and standard deviation. Correlation and Multiple Regression Analysis were used to test the hypotheses. It was discovered that work-life balance has positive and significant relationship with employees’ productivity in the listed Microfinance banks in Nnewi metropolis, Anambra State, Nigeria. The study concluded that adoption of telecommuting, flexible working hour and job sharing practices improve workers’ productivity. The study recommended among others, that banking institutions as a matter of urgency encourage workers’ work-life forces so as to enhance firms’ effectiveness in the long-run.

The Predictive Assertion of Big-Five Personality Traits (All Factors) on Developing Young and Adults Entrepreneurial Concept Formation/Innovation

Ugochukwwu Christian Ogbogu — 2024-12-16

This study was designed to investigate the predictive assertion of Big-Five personality traits (all factors) on developing young and adults entrepreneurial concept formation/innovation using Big-Five Personality Inventory (BFPI), developed by McCrae & John (1992) and Individual Entrepreneurial Intent Scale (IEIS), developed by Thompson (2009) as measuring tools. A cross sectional survey design was adopted using a sample of 342 developing young and adults accidentally drawn and volunteered, 252 (drawn) from Nnewi, Onitsha, Aba, Umuahia, Owerri and Abakiliki, metropolis of Anambra, Abia, Imo and Ebonyi state of Eastern Nigeria, and 90 (volunteered) from the same metropolis as well. Their age ranged between 25-48 years and average mean age of 34.52 and SD of 12.32. Multiple regression statistical package was used for the data analysis and the results showed that agreeableness (β = .120, t = 2.22, P<.02) and extraversion (β = .148,t = 2.76, p< .02) predicted developing young and adults entrepreneurial concept formation/innovation. Other factors or components of the personality traits (Big-Five): Openness to expression, conscientiousness and neuroticism could not predict developing young and adults entrepreneurial concept formation/innovation. Discussion of the established results was based on the literature reviewed, implication and recommendations were made.

Public Debt and Unemployment in Low Income Sub-Saharan African Countries

Paul O. Elekwa — 2024-12-17

With rising public debt and unemployment in different parts of the globe, this study examined how the two macro issues play out in low income sub-Saharan Africa where the workforce is growing remarkably. Six countries were selected on the basis of income - Burundi, Central African Republic, Chad, Guinea, Guinea-Bissau and Mali. Data was obtained from World Bank’s World Development Indicators (WDI) as well as World Economic Outlook (WEO). A panel data analytical approach was adopted. The result revealed, among others, that although the desired negative relationship existed between public debt and unemployment, such relationship turned out to be both economically and statistically insignificant. This was attributed to either a very low employment generation potential of the projects embarked upon with the borrowed funds or the inefficient application/deployment of such funds. The study recommended the establishment of an employment generation potential (EGP) benchmark for any project/borrowing as a basis for evaluating its feasibility, going forward.