Scholarly works in the Department of Economics

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Infrastructural Development and Economic Growth in Sub-Saharan Africa
(Department of Economics Crawford university, 2024) Idoko Suzan A.
This study examined the relationship between infrastructural development and economic growth in Sub-saharan Arica (SSA) Countries, using electricity, education, health, and information communication technology to measure economic growth in this region. The study also examined the causal link between the variables that will influence economic growth in SSA countries because the impact of infrastructure on economic growth in Africa is still not clear as some scholars argued that it impact is not significant, other scholars posited that it is significant to developed economies alone. The study employed descriptive and panel econometric procedure to analyses the date collected. The study utilised annual secondary data, spanning from 1990 to 2021 encompassing ten strategically selected countries grouped into landlocked (Central African Republic, Ethiopia, Zimbabwe & Congo, Sudan), costal (Nigeria, Mozambique, Gabon & Senegal) and insular (Mauritius). The data for the analysis were sourced from World Bank Development indicator (WBDI), Journals, data were also sourced from AIDB, World development indicators (WDI) and Worldwide Governance indicators (WGI), Data selected were analysed using tables, graphs, panel autoregressive distribution lag, fully modified ordinary least square and Dumitrescu & Hurlin and Granger causality test. This study therefore discovered that SSA’s economic development significantly depended on functional infrastructure provision thus suggesting that government needs to formulate and implement sustainable policy strategies that encompass diverse infrastructural components to promote economic growth in SSA. The study also concludes that there is spiral effects and reverse causation which implies that promoting infrastructure development stimulates economic growth and higher growth also consequently leads to better infrastructure development. The study recommends that Policymakers should adopt an integrated approach to development planning, recognizing the interdependencies among sectors. Comprehensive strategies that synchronies investments in electricity, education, health, and information communication technology can create a synergistic effect that will foster sustainable and inclusive economic growth in SSA countries the interconnected relationships between economic growth and various infrastructure components in the various geographical areas studied be put into consideration to foster sustainable and inclusive economic growth in SSA countries.
Infrastructural Development and Economic Growth in Sub-Saharan Africa
(Crawford university, 2024) Idoko Suzan A.; Olufemi M. Saibu
The impact of infrastructure on economic growth in Africa is still not clear as some argued that its impact is not significant, others posited that it is significant to developed economies alone. This study examined the relationship between infrastructural developments using electricity on economic growth in Sub-Saharan Africa (SSA). The study also examined the causal link between the variables that will influence economic growth in SSA countries. The study employed descriptive and panel econometric procedure. Annual secondary data, spanning from 1990 to 2021 and encompassing ten strategically selected countries grouped into landlocked (Central African Republic, Ethiopia, Zimbabwe & Congo, Sudan), costal (Nigeria, Mozambique, Gabon & Senegal) and insular (Mauritius). The data for the analysis were sourced from World development indicators (WDI) and Worldwide Governance indicators (WGI), Data were analysed using tables, graphs, panel autoregressive distribution lag. Fully modified ordinary least square and Dumitrescu & Hurlin and Granger causality test. The findings revealed a short-term insignificant but positive impact of electricity supply infrastructure on development and foreign direct investment on economic growth. The causality tests confirmed bidirectional relationships, emphasizing the interdependency nature between economic growth and infrastructural development in Sub Saharan African countries. This study therefore concludes that SSA's economic development significantly depend on functional infrastructure provision and thus suggesting that government needs to formulate and implement sustainable policy strategies that encompass diverse infrastructural components to promote economic growth in SSA. The study also concludes that there is spiral effects and reverse causation which implies that promoting infrastructure development promotes economic growth and higher economic growth also consequently leads to better infrastructure development. It recommends policymakers should adopt an integrated approach to development planning, recognizing the interdependencies among sectors. Comprehensive strategies that synchronise investments in electricity, education, health, and information communication technology can create a synergistic effect that will foster sustainable and inclusive economic growth in SSA countries.
Economic Recession and Private University Performance and Sustainability In Nigeria
(African Journal of Entrepreneurship and Business Management, 2017) Idoko Suzan A.; Onochie Maxwell Prosper; Esuh Ossai-Igwe Lucky; Ighodalo David Ehizojie
The present study took advantage of the very few studies that exists in the area of private universities performance and sustainability in Nigeria. This study examined the extent to which the present economic recession in Nigeria has affected private universities performance and sustainability of in Nigeria. A quantitative data was generated from 41 respondents derived from a questionnaire distributed via self-administered procedure. The respondents were selected through convenient sampling technique from a private University located at Ibadan, Oyo State, Nigeria. The data gathered was analysed using the SMART partial least square. The results revealed that economic recession has effect on both the performance and sustainability of the private university examined. The study concluded that economic recession significantly affected both the performance and sustainability of the private university in Nigeria. Private universities can reduce the pressure of economic recession through tapping into other areas by a way of diversification - consultancy services and Strategic business services and alliance with industries and also try to become more aggressive in their business activities by organizing more programmes outside the mainstream academic function.
Determinants of Trade Openness in Western Bloc Of Africa: Do Threshold of Industrial Value Added And Institutions Matter?
(Journal of Management Studies, 2024) Idoko Suzan A.; Agbabiaka K. O.; Balogun V. A.; Olakulehin T. H.
The research work explores the determinants of trade openness in Western bloc of Africa with critical emphasis on value added by the industrial sector of the economy and quality of institutions in the bloc. With the pre estimation test of unit root test that suggested panel autoregressive distributed lag and fully modified least square for the robustness check for the period of 1996 to 2020 the result of the analysis revealed that the threshold of industrial value added, quality institutions and financial deepening as vital determinants of trade openness in the bloc. Unfortunately, the interaction of the existing institutions with the threshold of value added by the industrial sector of the economy has no impact on trade openness. Conclusion of the research work was on more development of financial deepening, quality institutions and improved value added by the industrial sectors for the bloc to engage in trading beyond primary agrarian products.
Economics of Electricity Consumption, Billing and Payment Systems in Igbesa-Agbara Development Area of Ogun State, Nigeria
(Confluence Journal of Economics and Allied Sciences, 2020) Idoko Suzan A.; Macaver O. J.; Ojo F. A.
The paper examines economics of electricity consumption, billing and payment systems in Igbesa-Agbara Local Council Development Area (LCDA) of Ogun State using Primary and secondary data respectively. The core objectives of the study were to evaluate relationship between electricity consumption and tariffs charged by power distribution companies (DisCos) and effectiveness of revenue collection and remittances by the companies The data were analysed using Pearson correlation analysis. The results upheld the null hypotheses of the study as computed Pearson r (0.024) was lower than the critical table value (0.217) and revenue collection and remittances methods by the DisCos were found sub-optimal. The paper identified contrived scarcity of prepaid meters and rent seeking by field staff of the DisCos as the core challenges of power supply and consumption in the LCDA. To overcome these challenges, the paper recommends that all electricity users in the LCDA should be identified and registered to avoid revenue leakage; prepaid meters should be provided to customers to stem rent-seeking by marketing officers of the Discos; and regular customer relationship management trainings should be organized for all Discos staff that interface with customers and the public.
Electricity Infrastructure and Economic Growth in Nigeria: Impact Analysis
(Confluence Journal of Economics and Allied Sciences, 2020) Idoko Suzan A.; Awe Emmanuel O.; Ugbaka Malachy A.; Abdulkadir Yerima Y.
This study analyzed the impact of electricity infrastructure on economic growth in Nigeria using Ordinary Least Square as method of analysis. The study revealed a positive relationship between electricity infrastructure and economic growth in Nigeria, This shows that the poor state of electricity supply in Nigeria has imposed significant costs on the business sector. The bulk of these costs relate to the firms' acquisition of very expensive backup capacity to cushion them against the even larger losses arising from frequent and long power fluctuations. Small-scale operators are more heavily affected by the infrastructure failures as they are unable to .finance the cost of backup power necessary to mitigate the impact of frequent outages. The study therefore recommended for institutional reforms of the power sector in Nigeria.
Nigerian's Economic Recovery Amidst Triped Policies: Book of Proceeding
(Crawford University Press, 2024) Department of Economics, Crawford University
Population growth and human resource utilization nexus in Nigeria
(Journal of Humanities and Applied Social Sciences, 2021) Popogbe Oluwaseyi Omowunmi; Adeosun Oluyemi Theophilus
Purpose – Population growth has remained a key issue facing developing economies in the world. While developed countries are experiencing diminished or negative population growth, many countries in sub- Saharan Africa including Nigeria are having population growth above the economic growth rate. With the deadline for the sustainable development goals approaching, attention is increasingly being focused on population growth and human capital development. Extant literature focused on population growth, human resource utilization and economic growth but this study aims to examine the effect of population growth on human resource utilization. Design/methodology/approach – Using secondary data for the period 1990-2018, the study conducted unit root test and co integration analyses to determine the stationarity and correlation in the long-run in the variables. The study used the error correction model to ascertain the speed at which shocks can be corrected in the long-run. Granger causality test was also carried out to ascertain the direction of causality among the variables. Findings – The empirical results revealed that population growth has a negative and significant effect on human resource utilization. The study also revealed that unidirectional causality runs from employment rate to population growth rate and a unidirectional causality runs from employment growth rate to expected years of schooling. The Nigerian Government needs to not only control population growth but also focus on the quality of education. Originality/value – The paper provides insights into the relationship between population growth and human capital utilization in Nigeria focusing on the 1986-2018 period.
Understanding the Degree of Social Exclusion in Selected Slums in Lagos State, Nigeria.
(Yobe Journal of Economics (YOJE), 2020-09) Popogbe Oluwaseyi Omowunmi; Akinleye Oludiran Simeon; Oke David Mautin
Social exclusion is a key "capability failure" experienced by slum dwellers in major cities ofthe world. This study seeks to examine the degree of social exclusion suffered by slum dwellers in Lagos State, one of the fastest growing cities in Africa. This study adopted an analytical approach by constructing a Social Exclusion Index (SEI) for five major coastal slums (Makoko, Ilaje, Iwaya, Amukoko and Ijora-Badia) in Lagos State, Nigeria. Through the use of a structured schedule as well as interview with some of the respondents, data was elicited from 393 respondents in the selected slums. The descriptive analysis shows that majority of the respondents have large household members and earned very low income. The Social Exclusion Index shows that all the communities have very high degree of social exclusion index implying severe social exclusion. Notably, in the three dimensions analysed, Makoko had the lowest indexes in social relations and political participation while Amukoko had the lowest index in labour market participation. The study further provided a breakdown of the indicators measured under each dimension giving an insight into the factors that contribute to social exclusion across the communities. We recommend that labour laws should be favourable for artisans and small-scale businesses who largely are labour market players in the slums. This would improve their productivity and overall well-being. Also, human capital development through education, training and skill acquisition need to be intensified in order to enhance labour market inclusion of residents. This would in turn advance the standard ofliving of slum residents.
Agriculture Financing and Growth Performance in Nigeria: Pre-2000 and Post-2000 Analyses
(The Romanian Economic Journal, 2020-03) Popogbe Oluwaseyi Omowunmi; Dauda Risikat Oladoyin
This study examines the role of different types of finance in the development of the Nigerian agricultural sector and two-period (1986-2000 and 2001-2017) analyses are carried out to ascertain this effect. The study adopts the Auto-Regressive Distributed Lag (ARDL) analytical technique. Findings show that there exists a positive and significant relationship between Agricultural Credit Guarantee Scheme Fund (ACGSF) and agricultural output; and industrial output and agricultural output in the pre-2000 analysis. However, only industrial output positively impacted the agricultural sector in the post-2000 analysis while two major sources of finance (ACGSF and Rural Commercial Bank Credit) negatively impacted the agricultural sector during this period. The study recommends an urgent need for effective and well-implemented disbursement of the ACGSF and rural commercial bank credit to the agricultural sector. It is also necessary to strengthen the linkage between the industrial and agricultural sectors so as to sustainably increase the productivity of the agricultural sector.
Foreign Exchange Rate and Firm Survival: Evidence from Nigeria
(UNIBEN Journal of Human Resource Management, 2023) Popogbe Oluwaseyi Omowunmi; Ighodalo Ehizojie David
The role of monetary policy is crucial for the survival of the industrial sector. This study focuses on examining the relationship between foreign exchange rates and firm survival in Nigeria. The research utilizes secondary data from the World Bank Development Indicators (WDI) and the Central Bank of Nigeria's Statistical Bulletin, covering the years 1986 to 2021. Industrial output (INO) serves as a proxy for firm survival, while the independent variable is the foreign exchange rate (FEX). The stationarity of the variables was confirmed through unit root tests conducted at the level and first difference. The estimation technique employed in this study is the bounds testing cointegration approach, specifically the Autoregressive Distributed Lag (ARDL) model. The empirical model incorporates control variables such as interest rate, gross capital expenditure, and lending interest rate. The findings of the study reveal that an increase in the foreign exchange rate has a negative impact on the performance of the industrial sector. This implies that if the exchange rate continues to rise, the long-term survival of the Nigerian industry will be at risk. Hence, it is advisable to uphold a stable foreign exchange rate and facilitate its accessibility to industries in Nigeria.
Financing Role in Structural Transformation in Nigeria
(Audoe, 2019) Popogbe Oluwaseyi Omowunmi; Oke David Mautin
In this paper, the authors examined the role of financing in structural transformation in Nigeria. The key sectors that are investigated in the transformation are the agricultural and industrial sectors. Previous studies on the Nigerian economy scarcely examined both sectors comparatively, a gap which this present study sought to fill. The Autoregressive Distributed Lag (ARDL) analysis was carried out. The result shows a long run relationship between financing and agricultural output as well as between financing and industrial output. However, at a glance, bank financing is more concentrated on the industrial sector than the agricultural sector. There have been increased output in the industrial sector due to increase in money supply while the Agricultural Credit Guarantee Scheme has promoted increase in the agricultural sector’s output. Although policies should be geared towards enabling development of the industrial sector, it is also vital to consciously drive the agricultural sector in order to increase its output production. The agricultural sector, if well-funded, has the capacity to bloom and form a strong linkage with the industrial sector. It is essential that future studies on the Nigerian economy include the service sector in the structural transformation analysis.
Social Media Business Network and MSMEs Performance in Ogun State, Nigeria
(UJM, 2022-06) Popogbe Oluwaseyi Omowunmi; Ighodalo Ehizojie David
Businesses are fast realizing the importance of digital technology to enhance their productivity. This study, therefore, examines the impact of social media use on the financial and non-financial performance of MSMEs. Primary data were adopted for the analysis with focus on some selected Micro, Small, and Medium Scale Enterprises (MSMEs) in Ogun State, Nigeria. 280 valid responses were collated for the analysis and descriptive and logistic regression analyses were carried out. 152 females and 128 males participated in the survey. The findings showed that about two-thirds of the businesses sampled currently have their businesses on a social media handle and a large percent of them use Facebook as a platform to promote their businesses. More referrals, investment, and digitally skilled staff all significantly improved the financial performance of the businesses. On the other hand, social media visibility, investment in business, and digitally skilled staff positively impacted nonfinancial performance. Only two (business investment and digitally skilled staff) of the variables analysed significantly impact both financial and non-financial performance. The study does not find a significant relationship between other variables measured (such as online delivery of services and staff training) and the non-financial performance of the MSMEs. The study recommended that MSMEs should employ staff members that are social media savvy and also proactively attend to customers' online query.
Women entrepreneurship and microfinance: implications on the mental well-being of informal traders in Lagos, Nigeria
(Journal of Humanities and Applied Social Sciences, 2024) Popogbe Oluwaseyi Omowunmi; Olohunlana Aminat Olayinka; Shittu Ayodele Ibrahim; Adeosun Oluyemi Theophilus; Olohunlana Dapo Somod
Purpose – Although microfinancing is considered a key tool for fostering women’s entrepreneurship development, there is growing concern regarding the impact of loan repayment strategies on the mental health of women entrepreneurs. This study seeks to unravel the implications of microfinance loans on the mental wellbeing of women entrepreneurs. Design/methodology/approach – A carefully structured questionnaire was distributed to a purposive sample of one hundred women entrepreneurs in Lagos State using a mixed-method research approach. Also, interviews were conducted using an interview guide, which directly mirrored the questionnaire administered to five focus groups within Lagos State. Findings – The study found that loan repayment and recovery strategies positively and significantly impact women entrepreneurs’ mental well-being, with psychological distress serving as a measure for measuring mental well-being. Additionally, other factors such as the number of dependants and household headship trigger psychological distress, while age in business was associated with a reduction in psychological distress. Originality/value – This study contributes to the existing literature by delving into the psychological implications of loan repayment strategies on the mental health of female entrepreneurs in Lagos State, Nigeria. Furthermore, it employs a triangulation research approach to validate questionnaire responses through focus group discussions.
Empirical analysis of the push Factors of human capital flight in Nigeria
(Emerald Publishing Limited, 2020-10-24) Popogbe Oluwaseyi Omowunmi; Adeosun Oluyemi Theophilus
Purpose – Human capital flight from Nigeria to developed countries has remained a topical issue. This paper aims to empirically analyze the push factors for the migrants who explore the various legal migrant schemes from a macro perspective. The authors examine human capital development and its role in contributing to human capital flight tomore developed counties. Design/methodology/approach – This paper is anchored on the push–pull model. Using secondary data from 1990 to 2019, the authors look at the relationship between human capital flight and variables such as life expectancy, infant mortality rate, population growth rate and Nigeria’s unemployment rate. The auto-regressive lag model (ARDL) was adopted to estimate the empirical relationship among these variables. Findings – The results from the ARDL model suggest a positive relationship exists between population growth rate and migration rate. A negative relationship was, however, observed between life expectancy and migration rate. This study also found that an increase in the infant mortality rate negatively impacted migration significantly. Therefore, an increase in infant mortality rate lowered the migration rate. Finally, an increase in the unemployment rate increased migration; however, insignificantly. Research limitations/implications – The findings from this study are limited to the push factors influencing migration out of Nigeria. These factors are also restricted to variables for which data can be derived under the study’s scope. The results of this study have far-reaching implications, especially for policymakers and citizens alike. Better human capital development through enhanced life expectancy and reduced population in Nigeria will reduce the migration rate. Therefore, this study calls for the doubling of developmental and infrastructural efforts at all levels of governance. Originality/value – This paper’s importance lies in its ability to elucidate push factors that influenced migration out of Nigeria empirically. An empirical approach to the subject matter will explain these factors and the degree to which they influence migration. This will guide the policy-making process in curbing brain drain, which is a major challenge in Nigeria.
A tripartite approach to social inclusion in selected slums in Lagos State, Nigeria
(Emerald Publishing Limited, 2022-09-28) Popogbe Oluwaseyi Omowunmi; Akinleye Simeon Oludiran; Oke David Mautin
Purpose – This study aims to examine the social inclusiveness of slum dwellers by focusing on three key institutions which are social relations, government and the labour market. The literature emphasises the activities of these three institutions as indicators of social inclusion. Also, they accurately describe the social interactions of slum inhabitants at different levels. Design/methodology/approach – Three large slums (Makoko, Ilaje and Iwaya) in Lagos State were purposively selected for this study. Using a multi-stage sampling technique, there was the first level of cluster sampling across the communities and second-level random sampling of household heads in the clusters. In all, 400 respondents were sampled but 388 valid responses were used for the analysis. Findings – The study found minimal levels of inclusion in many of the indicators. However, Makoko had a higher degree of inclusion with respect to social relations and political participation compared to the other locations. Due to the poor level of governance, the resilience of slum dwellers has waned. Research limitations/implications The study was limited to three of the largest slums in Lagos State. Moreover, due to threats of eviction in recent times, many respondents were reluctant to provide adequate answers to some of the questions asked. However, the responses gotten were adequate to provide appropriate awareness and relevant recommendations. Originality/value – The use of primary data made it possible for novel results to be generated on social inclusiveness in selected slums. The study extends the frontier of knowledge on social inclusion.
Environmental Exposure and Maternal Mortality in Selected African Countries
(Ilorin Journal of Economic Policy, 2022-06-15) Popogbe Oluwaseyi Omowunmi; Dauda Risikat Oladoyin S; Olohunlana Olayinka Aminat
Improving maternal health is a top priority amongst other global public health issues, hence leading to the well-established literature on the factors determining maternal mortality. However, empirical evidence on the linkage between maternal mortality and environmental exposure is poorly understood in the literature. Therefore, this study seeks to contribute to the literature on the determining factors of maternal mortality by examining its linkage to environmental exposures in selected African countries. The study covers 25 selected African countries for the period between 2000 and 2016. Using the Panel Corrected Standard Error (PCSE), the study establishes inter alia: first, environmental exposures significantly aggravate maternal mortality in Africa. Second, Adolescent fertility, and access to at least one basic amenity increase mortality rates in the continent where current expenditure per capita reduces the prevalence of maternal deaths. Third, renewable energy and electricity consumption significantly reduces maternal mortality in selected African countries. Fourth, income per capita and inflationary levels are however not significant determinants of maternal mortality. The findings have a strong implication for maternal health policy in Africa. The study recommends that intensive efforts should be directed into the reduction of environmental exposures and also seek actionable ways to discourage early exposure to childbirth.
Human capital flight and output growth nexus: evidence from Nigeria
(Emerald Publishing Limited, 2021-02-15) Popogbe Oluwaseyi Omowunmi; Adeosun Oluyemi Theophilus
concerns to governments and scholars alike. This paper aims to explore the impact migration from Nigeria has on economic output growth by focusing on the migration rate, remittances, population growth and secondary school enrolment. This has not received adequate attention in the literature, as many papers have primarily focused on the impact of remittances on economic growth. Design/methodology/approach – Leveraging on the macro-level approach to migration, remittances and the economy, this research considers the nexus among the human capital flight and output growth variables by using the autoregressive distributed lag (ARDL) method of analysis for time series data between 1986 and 2018. Findings – The net migration rate from Nigeria was found from the empirical analysis to be more disadvantageous for the economy, given its negative relationship with economic growth despite the large volume of foreign incomes (remittances). It also shows that secondary school enrolment positively and significantly impacted the Nigerian growth rate in the long run. Originality/value – This research has widened the use of variables by combining net migration rate, remittances from abroad, population growth rate and secondary school enrolment to obtain a more robust outcome with implications for research and practice.
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.
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.

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