http://repository.unn.edu.ng/handle/123456789/429 2026-09-02T15:16:41Z 2026-09-02T15:16:41Z Akubue, Augustine A. http://repository.unn.edu.ng/handle/123456789/9310 2022-01-07T14:18:51Z 2014-05-01T00:00:00Z

The Impact of Government Deficit Budget Financing on the Performance of Some Macro-Economic Variables in Nigeria Akubue, Augustine A. This study examined the “Impact of Government Deficit Budget Financing on some Macro-economic Variables in Nigeria.” The study specifically sought to: examine the impact of budget deficit financing on money supply in Nigeria; examine the impact of deficit budget financing on inflation rate in Nigeria; and examine the effect of deficit budget financing on interest rates in Nigeria. Research hypotheses were raised and tested through the use of auto-regression. The study used time series data for 41 years covering the period 1970 – 2010. The technique of analysis used is Ordinary Least Square (OLS) method. The regression result showed that there was a positive but not statistically significant impact of budget deficit financing on money supply. We also found from the result that there were positive but not statistically significant impact of budget deficit financing on inflation rate and as well as positive significant impact on interest rate in Nigeria. Based on the analysis, findings and conclusion, we recommend the followings: large and persistent budget deficit financing should be discouraged as this has been found to exert pressure on some of the macro-economic variables; deficit budget financing should only be used sparingly; there should be proper monitoring of the composition of spending needs of the public sector so as to ensure a decrease in the level of deficits (if any) as this will help in maintaining macro-economic stability in the system among others.

2014-05-01T00:00:00Z Onebi, Prevail Orhumurigho http://repository.unn.edu.ng/handle/123456789/9309 2022-01-07T14:12:15Z 2019-07-01T00:00:00Z

Impact of Interest Rate on Commercial Bank Lending and Deposit Mobilization in Nigeria, 1986-2017 Onebi, Prevail Orhumurigho There has not been a consensus on the efficacy of monetary policy instruments in achieving the much desired macroeconomic objectives in Nigeria. It is therefore against this background that this study sought to: (i) examine the impact of nominal interest rate on commercial bank deposit mobilization in Nigeria, (ii) determine the impact of nominal interest rate on commercial bank lending in Nigeria, (iii) examine the impact of real interest rate on deposit mobilization in Nigeria, and (iv) assess the impact of real interest rate on commercial bank lending in Nigeria. The study adopted the ex-post facto research design. Annual time’s series were collated from the Central Bank of Nigeria (CBN) statistical bulletin for the period 1986 - 2017. Four (4) hypotheses were formulated and tested using the Ordinary Least Squares (OLS). Commercial bank total credit granted (CBTCG) and commercial bank total deposit mobilized (CBTDM) were adopted as the dependent variables and nominal interest rate (NIR) and real interest rate (RIR) were the dependent variables for the hypotheses. The study also used descriptive statistics on the dependent and independent variables to complement the results. The result revealed that nominal interest (deposit) rate had positive and significant impact on commercial bank deposit mobilization in Nigeria; real interest (deposit) rate had positive and non-significant impact on commercial bank deposit mobilization in Nigeria; nominal interest (lending) rate had negative and significant impact on commercial bank lending in Nigeria and real interest (lending) rate had negative and non-significant impact on commercial bank lending in Nigeria. The study thus concludes that interest rate regime is an important factor in determining the direction and volume of deposit and advances. The study recommends amongst others that since the main source of funds for commercial banks is deposit, banks should give due emphasis to their deposits and strive to increase them and banks should increase their deposit interest rates in order to mobilise deposits since there exists a positive relationship between savings and deposit interests rates.

2019-07-01T00:00:00Z Udemezue, Ndubuisi Nnakee http://repository.unn.edu.ng/handle/123456789/9308 2022-01-07T14:02:32Z 2019-08-01T00:00:00Z

Analyzing the Dynamics of Stock Market Development and Economic Growth in Nigeria: 1984-2017 Udemezue, Ndubuisi Nnakee This work analyzed the dynamics of stock market development and economic growth in Nigeria from 1984 – 2017. The specific objectives were to: determine the impact of stock market size on Nigeria’s economic growth; determine the impact of stock market liquidity on Nigeria’s economic growth; ascertain whether there was existence of long – run relationship between stock market development and Nigeria’s economic growth; determine the existence and level of volatility clustering in Nigerian stock market, and determine the degree and direction of causality between stock market development and Nigeria’s economic growth. Variables such as market capitalization, number of listed companies, total value traded, turnover ratio, all share index, banking development, inflation rate, trade openness and real gross domestic product were used in the investigation. Ex-post-facto research design was used for the study which was guided by the five research objectives and hypotheses. The study’s population was the values of stock market indicators from 1961 – 2017, excepting all share index which was 1984 – 2017; also was the values of macroeconomic variables from 1960 – 2017. Time series data covering the period of 1984 – 2017 were used as the sample size. Autoregressive Distributed Lag model (ARDLM), Exponential Generalized Autoregressive Conditional Heteroscedasticity (1.1) (EGARCH) model and Toda Yamamoto causality test, along with their preliminary and diagnostic tests were employed to test the hypotheses all of which were conducted at 0.05 level of significance. For purpose of accuracy in results, E-views statistical package was employed. Among the major findings of the study were that stock market size had positive and significant impact on economic growth. The stock market liquidity had positive but non-significant relationship with the economic growth. There was volatility clustering with explosive persistence and negative asymmetric parameter in the market. The study concluded that the Nigeria stock market is growth inducing; but still relatively underdeveloped and was plagued with volatility, for market indices to exert significant impact on the growth of the economy. Among other recommendations, Security and Exchange Commission should through moral suasion and/or government legislation bring private companies that have met certain financial thresholds to convert to public companies. This is part of the strategy used to get MTN listed on the Exchange, and AIRTEL is also being listed. Other telecommunication companies should be approached. This will increase the number of listed companies and go a long way in broadening and deepening the base of the market to promote growth.

2019-08-01T00:00:00Z Osuajoku, Adolphus Chigozie http://repository.unn.edu.ng/handle/123456789/9307 2022-01-07T13:59:24Z 2019-07-01T00:00:00Z

The Effects of Taxation and Government Expenditure on Performance of Deposit Money Banks in Nigeria, 1981-2017 Osuajoku, Adolphus Chigozie The study examined the effects of taxation and government expenditure on the performance of deposit money banks in Nigeria for the period 1981 to 2017. Specifically, the study sought to; (i) examine the effect of taxation on the capital base of deposit money banks in Nigeria for the period 1981-2017, (ii) assess the influence of government expenditure on credit creation by deposit money banks in Nigeria for the period studied, (iii) measure the effect of taxation on the credit creation of deposit money banks in Nigeria within the period 1981-2017, and (iv) evaluate the effect of government expenditure on the asset base of deposit money banks in Nigeria from 1981-2017. The study adopted ex-post-facto and analytical designs. Data used were of secondary and time-series nature which were sourced from Central Bank of Nigeria, Statistical Bulletins and Publications of the National Bureau of Statistics. The data collected were subjected to various pre-tests to confirm its goodness before analyzing them with Autoregressive Distribution Lag Model (ARDL) form of regression. The findings from the study with respect to the stated objectives show that there was a positive and significant effect of taxation on capital base of deposit money banks in Nigeria; government expenditure had positive and significant effect on the credit creation of deposit money banks in Nigeria; taxation had positive and significant influence on the credit creation of deposit money banks in Nigeria; and government expenditure had positive and significant influence on the asset base of deposit money banks in Nigeria. It was recommended that the three tiers of government (the Local Council, the State and the National) should fashion out good strategies and enlightenment programmes on tax collection. Also government should encourage consumption and investment through expenditure so as to create jobs for the unemployed. More so, an enabling macro-economic environment needs to be created to allow banks perform their core role of credit creation for the overall benefit of the economy.

2019-07-01T00:00:00Z