September - Volume 1, Number 1 (2025)
The Role of Foreign Direct Investment in Economic Growth: Empirical Evidence from Sign Identified Structural Vector Autoregression Model
Nwosu Amarachukwu Nelson
This study investigates the impact of Foreign Direct Investment (FDI) on economic growth in Nigeria, focusing on the influence of oil price shocks and demand-driven factors. The aim is to assess how FDI affects macroeconomic performance, particularly through inflation, manufacturing output, and real GDP. The study adopts the Structural Vector Autoregression (SVAR) methodology, utilizing cointegration analysis and unit root tests to examine the relationships among these variables. The theoretical framework is anchored in Neoclassical Growth Theory and the Eclectic Paradigm (OLI Model), which help to explain FDI's impact on growth and sectoral development. The findings reveal that FDI significantly influences...
SOCIO-ECONOMIC IMPACTS OF ENERGY EFFICIENCY, PRICING DYNAMICS, AND ENERGY ACCESS ON HOUSEHOLD POVERTY ALLEVIATION IN NIGERIA.
JOSEPH PAUL, ADEWALE E ADEGORIOLA, UDENYI JOSEPH OTSAYI, NANDE ANDREW
This study investigates the socio-economic impacts of energy efficiency, pricing dynamics, and energy access on household poverty alleviation in Nigeria. The research adopts an ex post facto research design, using secondary data from 1986 to 2022 sourced from the Central Bank of Nigeria and the National Bureau of Statistics. The study employs the Autoregressive Distributed Lag (ARDL) model to analyze both short-run dynamics and long-run equilibrium relationships among the variables. The findings reveal that improvements in energy efficiency have a significant negative effect on poverty, confirming the Energy-Led Growth Hypothesis, which suggests that higher energy efficiency reduces household energy costs...
MODELING QUANTITATIVE EASING AND OUTPUT GROWTH IN NIGERIA
Dr Danladi Augustine, Prof. Joseph M Ibbih, Francis A Akawu, Shehu Ibrahim Alfa
The study modeled quantitative easing (QE) on economic growth in Nigeria for the period 2000Q1-2023Q4. Due to globalization of financial systems, the 2008 financial and economic crises and the subsequent UMPs adopted by advanced economies flooded excess liquidity into developing economies, culminating in currencies depreciation, drops in exports and rising inflation, thus necessitating the use of QE. The study adopts ex-post facto design and the VAR methodology to model QE and economic growth in Nigeria. The study relies on secondary data sourced from CBN on Ways and Means Advances (WMA), Central Bank Balance Sheet (CBS), Inflation rate (INF) and Anchor’s...
Trading Shock, Economic Growth and Macroeconomic Fluctuation in Nigeria: Empirical Evidence from Structural Vector Error Correction Mechanism Model
Nwosu Amarachukwu Nelson
This study investigates the impact of trade shocks on economic growth and macroeconomic fluctuations in Nigeria, focusing on oil price and export trade. The aim of the study is to analyse how external trade-related shocks, particularly oil price fluctuations and export trade dynamics, affect Nigeria's economic stability. The study adopts an empirical methodology using quarterly macroeconomic data, covering Real GDP, export, import, and oil prices, spanning over 164 data points. The econometric techniques employed include Unit Root Test, Co-integration Analysis, Structural Vector Error Correction Model (SVECM), Granger Causality, Impulse Response Function, and Forecast Error Variance Decomposition. The theoretical framework is...
Determinants of health outcomes in Sub-Saharan Africa: A dynamic Panel Analysis
Ilemona ADOFU, Clement ANDREW, Victor A KABANBUWOK
This study analyzes determinants of health outcomes in Sub-Saharan Africa using a balanced panel dataset. The System GMM health production model with maternal mortality, infant mortality, and life expectancy as dependent variables was employed. Findings indicate that public health expenditure has weak and insignificant effects on mortality outcomes, while private health expenditure significantly improves life expectancy. Conversely, out-of-pocket spending reduces life expectancy, highlighting financial barriers to healthcare. Urbanization is associated with higher maternal mortality, whereas access to clean water and immunization coverage contribute positively to life expectancy. Post-estimation diagnostics confirm model validity. Overall, Sub-Saharan Africa remains off-track in achieving...
FROM CASH TO DIGITAL: ASSESSING THE INFLUENCE OF NIGERIA’S CASHLESS ECONOMY ON SMES IN NASARAWA STATE, KARU LGA.
Osekweyi J Odonye, Ezekiel Ojobo
This study investigated the influence of Nigeria’s cashlesseconomy on the performance of small and medium-scale enterprises (SMEs) in Karu Local Government Area of Nasarawa State, with specific focus on internet banking and mobile banking. Using a survey design, primary data were collected through the administration of 400 questionnaires to SME operators, and the data were analysed using binary logistic regression. The findings revealed that both internet banking and mobile banking exert a negative but statistically insignificant effect on SME performance in Karu. These outcomes suggest that while digital banking platforms offer convenience and the promise of efficiency, their benefits remain largely unrealized...
ASSESSMENTS OF COMMUNITY POLICING AND INSECURITY IN KEFFI LOCAL GOVERNMENT AREA OF NASARAWA STATE, NIGERIA
Umar U Shehu, Mseve Yawe
This study examines community policing and insecurity in Keffi Local Government Area of Nasarawa State, Nigeria, through three theoretical lenses: partnership policing and community participation, broken windows, and social disorganization theories. Together, these frameworks stress that policing is most effective when community-driven, preventive, and responsive to underlying social conditions. The partnership approach underscores collaboration and mutual trust between citizens and law enforcement; the broken windows perspective emphasizes addressing minor disorder before it escalates; while social disorganization highlights the impact of weak institutions, unemployment, and instability on crime. A cross-sectional design was adopted, with 355 respondents selected through multi-stage sampling methods. Data...
SUSTAINABLE URBAN FARMING AS A LIVELIHOOD STRATEGY: A CASE STUDY OF MAKURDI, BENUE STATE, NIGERIA
Moses Angau Atul, kingsley C Fredrick, Moses Alaku
Sustainable urban farming (SUF) is a key strategy for achieving several of the Sustainable Development Goals (SDGs), particularly in reducing unemployment, alleviating food insecurity, and fostering a more sustainable urban environment. However, town planners and policymakers must approach urban agriculture (UA) with a comprehensive understanding of its role within the urban system, especially with regard to resource management and waste utilization. This paper examines the livelihood impact of urban farming in Makurdi, Benue State, Nigeria. The study employed a survey research design, utilizing accidental sampling to collect data from 251 urban farmers across 22 urban farms. Descriptive statistics, including frequency...
SPATIAL DIMENSIONS OF CONFLICT AND FOOD SECURITY IN NIGERIA: THE IMPACT OF VIOLENCE, DISPLACEMENT, AND RESOURCE STRUGGLES
Ewache Joseph Elumah, Erhuotor Ejiro Efe, Kigbu John Agabi
This study examines how the spatial variation of violent conflicts across Nigeria affects household food security, with emphasis on displacement, fatalities, and competition over productive resources. The objective is to capture the regional dynamics of conflict-induced shocks and their implications for food access and dietary diversity. Using nationally representative household survey data and applying two-stage least squares (2SLS) regression to address endogeneity, the analysis evaluates how conflict-related shocks—such as forced migration, abduction, and fatalities—influence food consumption outcomes. The results reveal distinct geographic patterns: Boko Haram insurgency in the North-East, herder–farmer clashes in the North-Central, and communal tensions in the South-South...
EVALUATING THE EFFECTIVENESS OF MONETARY POLICY INSTRUMENTS IN CONTROLLING INFLATION IN NIGERIA
Kigbu John Agabi, Erhuotor Ejiro Efe, Etima David Umoh
This study evaluates the effectiveness of monetary policy instruments in controlling inflation in Nigeria using annual time series data from 2000 to 2025. Employing the Autoregressive Distributed Lag (ARDL) model and Error Correction Mechanism (ECM), the research investigates both the short-run and long-run relationships between inflation and core monetary policy instruments: Open Market Operations (OMO), Monetary Policy Rate (MPR), and Liquidity Ratio (LRR). Augmented Dickey-Fuller (ADF) unit root tests confirm that all variables are stationary at first difference, justifying the ARDL framework. The ARDL long-run estimates reveal that LRR have statistically significant impacts on inflation, LRR negatively affects inflation, indicating its...
OIL PRICE FLUCTUATION AND MANUFACTURING SECTOR IN NIGERIA: THE MODERATING ROLE OF INSTITUTIONAL QUALITY
Paul Joseph, Onmonya Abraham Otsapa, Gaius, Mashor Tokshik
This study investigates the impact of oil price fluctuations on manufacturing sector performance in Nigeria, with institutional quality examined as a moderating factor. Using annual time series data spanning 1981–2023, sourced from the World Development Indicators (WDI) and the Central Bank of Nigeria Statistical Bulletin, the study employs the Autoregressive Distributed Lag (ARDL) framework to capture both long-run and short-run dynamics. The Phillips–Perron (PP) unit root test confirms a mix of I(0) and I(1) series, justifying the ARDL approach, while the bounds test indicates the presence of a long-run relationship among the variables. The results reveal that exchange rate volatility...