Search results

This study explored the relationship between foreign aid and economic growth in Nigeria from 1984 to 2017. The Autoregressive Distributed Lag Bounds method to cointegration was employed for this study. The results revealed that foreign aid did not contribute to economic growth in Nigeria. Also, the macroeconomic policy environment did not contribute to economic growth in both the short-run and long-run. Furthermore, the results revealed that the impact of foreign aid on economic growth in Nigeria was contingent on the quality of the macroeconomic policy environment. Hence, the claim that the effectiveness of aid is dependent on the q policy environment was valid for Nigeria. The study, therefore, recommends that the policymakers of the government should put in place a sound macroeconomic policy environment that is stable to stimulate domestic saving and ensure the effective utilization of foreign aid. Besides, there is a need for the diversification of the economy through viable alternatives such as agriculture, industrialization and trade to lessen heavy reliance on foreign aid as a major means of stimulating economic growth. Furthermore, the Economic and Financial Crimes Commission and Independent Corrupt Practices and other Related Offences Commission, established to fight corruption should be effective in their job and convince development partners and other aid donors that it is no longer business as usual for those that divert public resources including foreign aid funds for personal gains and the government should provide incentives to private investors and good enabling environment for the thriving of private businesses.

This study examined the effect of reward systems on workers' performance at the University of Abuja. It utilized descriptive and inferential statistics on a sample of 337 workers' derived from 2145 workers through the random sampling technique. The results showed that employees are contented with the recognition accorded to them for executing good works, supervisors are open to assist or direct employees, supervisors encourage the ideas of employees' and their styles of accomplishing things, supervisors' expectations from employees in terms of job done are unclear to them and promotions and pay increases depend on the attainment of known performance goals exerted a positive effect on workers' performance. However, this university does not automatically reward good performance, exceptional incentives and rewards are provided by management to all employees and the process of performance appraisal is connected to the reward system had a negative impact on workers' performance. The study recommends that the University of Abuja management should ensure that rewards are based on merit and matched with performance to inspire workers to perform optimally. In addition, reward management practices on rewards for good performance, promotions going to people that deserve them and celebration of excellent service should be reviewed and strengthened.

This study examined the relationship between military outlay and economic growth in the Lake Chad Basin countries of Nigeria and the Republic of Chad respectively by testing the causal link between these two principal variables. The data ranges used for Nigeria and Chad were 1981-2019 and 1983-2019 respectively. The econometric method employed for this study was the Autoregressive Distributed Lag Bounds approach to cointegration. The results revealed that Nigeria's military outlay exerted a positive and insignificant relationship with economic growth. However, the Republic of Chad's military outlay had a positive and significant link with economic growth. The results of the causality test showed that there was no causal relationship between real GDP per capita and military outlay in both Nigeria and the Republic of Chad. These findings for Nigeria and Chad imply that they can pursue the policy objectives of defence and economic growth independently. The study, thus, recommends that the policymakers of the governments of both countries should pursue the policy objectives of defence and economic growth independently. Furthermore, the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and other Related Offences Commission (ICPC), charged with the responsibility of fighting corruption should rise to the occasion and track down military officials that divert defence funds for individual gains in Nigeria.

This paper aims to investigate the response of private and public sector credit to shocks in monetary policy instruments with a view to ascertaining if the responses differ. The study utilized the vector autoregressive (VAR) model with monthly data covering the period from 2010M1 to 2021M8. Findings show that credit to private sector responds positively to shocks in money supply and monetary policy rate (MPR) in all periods. However, the response to cash reserve requirement (CRR) was negative beginning from period five, and it also responded negatively to foreign interest rate shock. On the other hand, credit to government was found to respond positively to shocks in money supply up to period two and CRR in all the periods, but it responded negatively to MPR starting from period three. The results of the variance decomposition show that other than shocks to itself, which was 100% in the first period, shocks to other variables influence private sector credit. Also, other than shocks to itself, which was 99.89% in the first period, shocks to other variables lead to shocks to credit to government. We therefore recommend that policies used to influence financial intermediation should factor in the sensitivity of both public and private sectors to these policy instruments and the impact of exogenous shocks should be factored into policy formulation.