Department of Economics

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Cashless Policy and Economic Activities in Developing Countries (A Case Study of Nigeria)
(2015-05-24) Amire Comfort M; Omoare E. O.
Economic activities can be described as legal activities that create and distribute utility from points of production to places of final consumption at a price. Economic activities have been classified into productive activities, commercial activities, distributive activities and service activities. Economic activities are embarked on by two separate economic agents identified as suppliers and buyers. The advent of money resulted into growth and development in economic activities. However, negative consequences associated with cash-based transactions necessitated the adoption of cashless policy. The cashless policy is a policy that encourages more electronic-based transactions. The aim of this study is to determine how some factors of cashless policy impact on economic activities. Some of these factors are availability of power, infrastructures and literacy level. Findings revealed that cashless policy has contributed to the promotion of technology enhanced businesses. In addition, constant and regular supply of electricity will aid cashless policy, thereby strengthening economic activities in Developing countries.
Development And Validation of a Composite Flood Impact Index (CFII) for Ecowas Countries
(Crawford Journal of Economics and Management, 2026) Amire Comfort M; Afariogun Adeshola Oluwaseun; Enilolobo Oluwafemi
Flood disasters represent a major socio-economic and environmental challenge within the Economic Community of West African States (ECOWAS). Assessing disaster severity through individual indicators provides only a partial representation of flood impacts, as isolated metrics often fail to capture their multidimensional nature. This study developed and statistically validated the Composite Flood Impact Index (CFII) for the comparative assessment of multidimensional flood impacts across ECOWAS countries. The study covered the fifteen ECOWAS member states over the period 2000–2023 and utilized data from the Emergency Events Database (EM-DAT). The CFII was constructed from flood frequency (ff), total persons affected (tpa), and total deaths (td) using Min-Max normalization and an equal-weighting aggregation framework. Statistical validation was conducted using an Independent Samples t-test. The principal findings revealed significant variation in flood impacts across the region and enabled the ranking and classification of countries into distinct vulnerability groups. Statistical validation confirmed the discriminatory capability of the CFII. The study contributes a transparent, reproducible, and standardized framework for multidimensional flood assessment. The CFII complements traditional single-indicator approaches and supports comparative flood risk assessment and evidence-informed disaster risk planning across ECOWAS.
Emergence of Unemployment: An Assessment of Nigeria Directorate of Employment (NDE) Skill Intervention Programmes between (2005-2011) in Lagos State
(Journal of Economics and Sustainable Development, 2015) Amire Comfort M; Ngwama Justice Chidi
Generation of productive and gainful employment with decent working conditions based on skill development to absorb our growing labour force has become a critical factor in the strategy for economic development in Nigeria. This demands that the government must respond through policy interventions in setting institutional framework that will be responsible for enhancing the skill of products from different academia. Given the strategic position of Lagos State in Nigeria there is need to provide world-class vocational skills training and high quality technical education to Lagos unemployed youths . Young school leavers rush to Lagos in search of jobs. In other to achieve this target, the National Directorate of Employment (NDE) and few other institutions were created. The aim of this study is to examine the relationship between skill development and youth unemployment. In analyzing the relevance of NDE in the development of skill and creation of job in Lagos state between (2005- 2011), this paper observed that NDE has contributed significantly towards creating jobs for the unemployed youths within their capacity. However, the slow pace of NDE in responding effectively to the rate of unemployment and in attaining the millennium development goal (MDGs) will be an uphill task. The government needs to improve on their investment, and develop more institutional capacity to tackle the issue of unemployment in the country. Beyond policy initiation, strategies must be put in place for adequate implementation of the scheme towards eradicating unemployment.
Flood Disasters and GDP Per Capita in Ecowas Countries: A Pooled Mean Group ARDL Analysis
(Crawford Journal of Economics and Management, 2026) Amire Comfort M; Afariogun Adeshola Oluwaseun; Enilolobo Oluwafemi
This study evaluates the macroeconomic impact of flood disaster shocks on material living standards within the Economic Community of West African States (ECOWAS) from 2000 to 2023. Operating within a Pooled Mean Group (PMG) ARDL dynamic panel framework across ten countries, the study regresses real GDP per capita against flood frequency, total persons affected, and total deaths. Long-run panel estimations reveal that aggregate material output appears insulated from disaster shocks, as shown by the insignificance of flood frequency (1.0365, p = 0.7012), total deaths (0.0996, p = 0.1257), and affected populations (0.0014, p = 0.8124). Short-run dynamics reveal acute structural disruptions, with the error correction term (ECT) registering at -0.2496 (p = 0.0048). Rather than proving economic immunity, these benign long-run coefficients validate the Schumpeterian reconstruction paradox, where forced post-disaster capital replacement temporarily inflates output metrics using newer capital vintages, masking severe qualitative human capital erosion. Consequently, the study recommends that ECOWAS macro-planners transition from short-term reconstruction funding cycles toward structural capital-upgrading resilience frameworks. Policy should prioritize safeguarding regional transportation infrastructure to minimize short-run equilibrium deviations and mitigate long-term capital stagnation.
Government Expenditure and Private Investment in Nigeria.
(Ae-Funai Journal of Accounting, 2020-06) Amire Comfort M; Okufuwa Michael O; Amire Christianah O
In view of the changing role that government plays in enhancing and ensuring economic development amid the internal societal economic challenges widely attributable to a sharp decline in government income, evidence abound that most of the state trade and business policies have been made including but not limited to policies on deregulation, privatization, among others targeted at sectoral reforms to support the economy and to boost public confidence in private and public sector investments. It is against this backdrop that this paper takes a look at the impact of government expenditure on the Nigerian economy and the sphere of the Nigerian private investment between the period of 1981 – 2018. Johansen co-integration approach, Error Correction Methodology (ECM) and Granger Causality text were used for the analysis in the study. The findings show that capital expenditure had positive (crowd-in) effect on Private investment while recurrent expenditure showed a negative standing on the Nigerian private investment quota. Similarly, in line with the Granger causality techniques, there are evidences to show that government recurrent expenditure, inclusive of the capital expenditure granger causes private investment in the country within the period under review. Thus, this paper posits that it is more profitable to prioritise capital spending and direct it to public infrastructural services such as electricity, ICT, education and health for active development in the delivery of services of private investment.
Impact of Health and Education Expenditure on Poverty Alleviation in Nigeria
(Caleb International Journal of Development Studies, 2020) Amire Comfort M
The significance of government expenditure in the promotion growth and development of every sector in an economy cannot be over-flogged. This study aims to ascertain the impact of government expenditures on health and education on poverty alleviation in Nigeria. This study used the Ordinary Least Square (OLS) statistical method on obtained from Statistical Bulletin of the Central Bank of Nigeria (CBN) and World Development Index (WDI) over the period of 1988-2018. The Johansen Co-integration result indicates four co-integrating equations at the 0.05 level. Result shows that there exists a long-run relationship between government expenditures on health and education and poverty alleviation in Nigeria. It was also found out that expenditure on health and education exhibit positive relationship on the dependent variable (Poverty Alleviation), this means that increasing government spending on health and education translates to increases in poverty alleviation. To alleviate poverty in Nigeria, government should increase expenditure on health and education.
The Complementary Impact of Unemployment and Inflation on Literacy in West Africa from 2000 to 2023: Evidence from Panel ARDL
(Crawford Journal of Economics and Management, 2026) Amire Comfort M; Oyenukan Olukayode O
This study observes the complementary impact of unemployment and inflation rate on human capital education in 15 West African countries from 2000 to 2023. Education is proxied by literacy rate as a regressor against the selected macroeconomic environment. A Panel ARDL technique was adopted along Bounds test, Granger causality, and Impulse Response Function on data set of 358 observations for each variable employed. The study then, rooted in a three-pronged theoretical framework of Uzawa's Two - Sector Model of Human Capital Accumulation, Classical Theories of Labour & Price Stability, and Human Capital Theory. The findings disclose that in the short run, unemployment, inflation, and their interaction have insignificant relationships with education (literacy). In the long run, unemployment (-0.253281; p= 0.0000) and inflation (-0.194927; p= 0.0000) has individually reduced literacy outcomes but credit to the private sector positively expands education outcomes. The interaction term is positively significant (0.037879; p= 0.0000), indicating that households adapt by reallocating time to education under stagflation tohedge human capital idleness. And lastly, a long-run cointegration occurs only in Cape Verde and Ghana out of 15 West African countries. On that note, the study concludes that macroeconomic instability coerces literacy and induces 'JAPA syndrome' in West Africa. But its joint effect triggers adaptive education investment. Therefore, policy should combine price stability, job creation, credit expansion, and education quality reforms to sustain human capital expansions and restrain mass skilled migration termed 'JAPA syndrome' in West Africa.
The Effect of Corporate External Restructuring on the Performance of Financial Institutions in Nigeria: A Review
(Online Science Publishing, 2016-11-01) Amire Comfort M; Amire Peter .O. Ebunoluwafunmi
The need for financial institutions anywhere in the world cannot be over-emphasized. The daily business transactions carried out by individuals, firms and corporate entities underscores the need for a better and performing financial institutions in Nigeria .This paper specifically focused on Banks as the leading financial institution in Nigeria, the problems and challenges associated with the financial systems in Nigeria before the intervention of the Apex regulatory body (Central Bank of Nigeria) through the recapitalization directive, the effect of the recapitalization and restructuring process on the industry and the role of the Central Bank of Nigeria in sustaining, maintaining and enforcing the recapitalization directive.
The Role of Entrepreneurship Education in the Achievement of Nigeria's Vision 20:2020
(International Journal of Innovative Research & Development, 2016-04) Amire Comfort M; Onochie Maxwell Prosper; Omolewa Egor Ese
In an attempt to develop, most developing nations have adopted different developmental policies, giving little or no attention to the principal factors of development. This paper investigated the importance of entrepreneurship when qualifying and quantifying the aggregate indexes of development. The writers argued that in accomplishing the quest for development in Nigeria by 20:2020, entrepreneurship should be considered as the most viable tool. The article structured and synthesized the existing scholarly works, thereby generating new knowledge. The results can be used to enhance fruitful development policy. The article integrated Entrepreneurship and National Development by first identifying conceptual problem of development and then concentrated more on the role of entrepreneurship in National development. The benefits and problems of entrepreneurship in Nigeria are discussed as well as the way out.

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