Browsing by Author "Joseph David"

Now showing 1 - 20 of 21

Advancing inclusive growth in Nigeria: the role of financial inclusion in poverty, inequality, household expenditure, and unemployment
(Indonesian Journal of Islamic Economics Research, 2020) Musa Abdullahi Sakanko; Joseph David; Aliyu Musari Onimisi
This study employs ARDL bounds testing technique to examine the effect of financial inclusion on inclusive growth in Nigeria, using quarterly data from 2007-2018. The empirical evidence reveals the presence of cointegration between financial inclusion indicators (account ownership, access to bank, ATM and credit, loans to SMEs and internet usage) and inclusive growth (poverty, household expenditure, employment, and per capita income). The results demonstrate that, while increase in account ownership, and access to bank and ATM raise poverty, and access to credit, loans to SMEs and internet usage reduces employment and per capita income in the long-run, it was also discovered that access to credit reduce poverty and increase household consumption, while account ownership and access to bank increases employment and per capita income in the long-run. In the short-run: lag of account ownership, access to ATM and credit, loan to SMEs and internet usage reduces poverty; lag of household expenditure, account ownership, and access to ATM and lag of internet usage increases household expenditure; lags of access to ATM and lags of internet usage (and account ownership and access to the bank) increases employment opportunities (and per capita income), and access to ATM and credit reduces employment and per capita income respectively.
An Econometrics Analysis of the Determinants of Exchange Rate in Nigeria (1980 - 2016)
(European Journal of Business and Management, 2017) Musa Abdullahi Sakanko; Joseph David
The paper investigates the determinants of exchange rate in Nigeria using times series data ranging from 1980 to 2016 and employing the Vector Error Correction Mechanism (VECM) to separate the long-run determinants of exchange rate from its short-run determinants. The result from the dynamic model reveals that changes in domestic price level, interest rate differentials, trade openness, government purchases of tradable and non-tradable goods and capital inflow are the major long-run determinants of exchange rate in Nigeria while changes in the domestic price level, interest rate differentials and capital inflow are the major short-run determinants of exchange rate in Nigeria. The study recommended the actions of the monetary authorities towards the maintenance of relative low and stable price level, interest rate capable of attracting foreign investors and the design and implementation of trade policies which tend to increase the inflow of capital from abroad.
An Econometrics Validation of Malthusian Theory: Evidence in Nigeria
(Signifikan: Jurnal Ilmu Ekonomi, 2018) Musa Abdullahi Sakanko; Joseph David
Rising population is an asset, provided, the skills of the workforce are used to the maximum extent. If not appropriately channelized, it can be a liability for a nation. A skilled and hardworking population can emerge as a foundation for a country’s development. This study examines the validity of Malthusian Theory in Nigeria using time series data from 1960 to 2016, employs the ARDL bound test techniques. The result shows that in the long-run, population growth and food production move proportionately, while population growth poses a depleting effect on food production in the short-run, thus validating the incidence of Malthusian impact in Nigerian economy in the short-run. The researcher recommended the government should strategize plans, which will further intensify family planning and birth control measure, compulsory western education and revitalization of the agricultural sector
ANALYSIS OF THE IMPACT OF TAX REVENUE ON THE ECONOMIC ACTIVITIES OF NIGER STATE
(KEBBI JOURNAL OF ECONOMICS AND SOCIAL SCIENCE (KJESS), 2019) Musa Abdullahi Sakanko; Umma Yahaya Sufiyanu; Joseph David
The relevance of tax revenue cannot be overemphasized especially with the recent declining on the federal allocation and diversion of most revenue to the rehabilitation of Northeast. Both the federal and state governments have been on their stand to diversify revenue bases available to them and attention is now being shift to other sectors and government parastatals that can yield revenue to the government. On this note, Availability and mobilization of revenue is the fundamental factor to which any economy is managed and run. The main objective of this study is to examine the impact of tax revenue on the economic activities of Niger state, employed a logistic regression model to analyze the primary data. The results revealed that tax revenue has a positive and statistical insignificance impact on the economic activities of the Niger state. Tax evasion, tax avoidance, illiterate, corruption, and tax collector habits, had a decline effect on tax revenue in Niger state and statistically significant. However, tax administrator and poor management have a positive effect on tax revenue but the former is statistically insignificant and later statistically significant. Thus, the study concludes that effective and efficient tax policy is a necessary component of an economic policy, for a state to sustain and strengthen its economic activities and compete favorably with the neighboring states. Therefore, recommends, the government to put more effort in revenue since tax revenue serves as a source of funding for government in undertaking infrastructural development. This could be achieved by improving efficiency in tax administration by strengthening, rewarding, modernizing collection and streamlines of tax exemptions.
Appraisal of the Determinants of Energy Use in LAPAI Local Government
(Pakistan Journal of Humanities and Social Sciences, 2018) Musa Abdullahi Sakanko; Joseph David; Abdullahi Yakubu
The paper investigates the determinants of energy use in Lapai Local government area of Niger state, Nigeria using a cross-sectional data randomly collected from 117 respondents in the Lapai. Employing the descriptive statistics and Multinomial Logistics regression model to capture the characteristics of the respondents and the determining factors of energy use in Lapai respective. The empirical result obtained revealed that people use more of the traditional energy sources (firewood and charcoal) because of its availability and affordability. Income level, family size, educational status, and occupational status are the major determinants of the use of the modern energy sources relative to traditional energy sources. The study thus recommends The Government through ministry of power and environment should come up with suitable policies that will shift the attention of using biomass energy source to modern energy source, Government and environmental agencies should introduce safe and sufficient energy source in other to reduce burden on the use of biomass in the country so as to reduce the level of pollution and erosion. The actions of the local government authorities towards the improvement in the availability and access to modern energy source so a s to reduce the use of traditional energy sources as well as improvement in the income level and access to education of individuals in the local government.
Does Financial Inclusion Reduce Poverty in Niger State: Evidence from Logistic Regression Technique
(Organizations and Markets in Emerging Economies, 2022-01-01) Nurudeen Abu; Musa Abdullahi Sakanko; Joseph David; Awadh Ahmed Mohammed Gamal; Ben Obi
This study employs the logistic regression method to examine the effect of financial inclusion on the level of poverty in Niger State of Nigeria based on cross-sectional data randomly collected from 624 respondents across 224 towns and villages in 12 local government areas (LGAs) of the state. The estimation results illustrate that financial inclusion (proxied by bank account ownership, including access to bank, credit, and mobile phone) is significantly and negatively related to the level of poverty. This empirical outcome is further validated by the results of the Probit regression technique which show a significant negative relationship between financial inclusion and poverty in the state. Based on these empirical findings, the study recommends policies which include broadening bank coverage, softening credit requirements, and enhancement of people’s access to mobile phone and internet services in rural areas of Niger state.
External Debt and Manufacturing Sector’s Performance in MINT Countries: Evidence from Dynamic Heterogeneous Panel Estimation Techniques
(Journal of the Knowledge Economy, 2024) Nurudeen Abu; Joseph David; Musa Abdullahi Sakanko
The study assesses external debt’s impact on MINT countries’ (Mexico, Indonesia, Nigeria, and Turkiye) manufacturing sector’s performance during the 1980–2021 period, using dynamic heterogeneous panel methods (i.e. dynamic fixed effects, mean group, and pooled mean group estimators). The findings portray the presence of long-term relation between external debt and manufacturing performance (alongside external debt service, inflation rate, population size, exchange rate, FDI, and agricultural output) based on the Kao’s residual cointegration test. The empirical outcomes portray a dampening impact of external debt on manufacturing sector’s performance during the short and long term. Moreover, external debt servicing, FDI, population size, and inflation rate promote the sector’s performance, but exchange rate (depreciation) hurts manufacturing performance. Furthermore, the Dumitrescu- Hurlin heterogeneous panel causality test portrays a one-way causality from external debt servicing (and exchange rate) to manufacturing sector’s performance and a two-way causality between manufacturing sector and population (and FDI and agricultural output). Thus, policies aimed at lowering external debt, lessening exchange rate variability and inflation rate, and boosting inward FDI are recommended to promote the sector’s performance
Financial inclusion and underground economy nexus in West Africa: evidence from dynamic heterogeneous panel techniques
(Economic Change and Restructuring, 2024) Musa Abdullahi Sakanko; Joseph David; Nurudeen Abu; Awadh Ahmed Mohammed Gamal
Dynamic Fixed Effects, Mean Group, and Pooled Mean Group estimators to explore the underground economy (UE) and financial inclusion (FI) relation for ten West African nations during the 2004–2021 period. Applying Pedroni cointegration test, the results present evidence of a long-term relation between UE and FI (alongside corruption, inflation rate, money supply, agricultural output, and trade). The results of panel estimation portray a long-term significant positive influence of FI on UE, but a short-term significant negative relation between FI and UE. In addition, corruption, money supply, and international trade have a long-term significant negative influence on UE, while inflation supports long-term expansion of UE. Also, a short-term significant negative relation exists between inflation (and trade) and UE, while a short-term significant positive relation is found between money supply and UE. The results of Dumitrescu–Hurlin causality test signal a one-way causality from FI to UE. Therefore, policies geared toward enhancing FI, reducing corruption and money supply, and improving international trade are recommended to reduce UE.
INFRASTRUCTURE AND SUSTAINABLE DEVELOPMENT GOALS (SDGs) IN NIGERIA
(Kabod Publishing, 2022) Musa Abdullahi Sakanko; Joseph David; Safiyanu Umma Yahaya
The government needs to harnessing innovative finance. The government budgets maybe insufficient to finance the infrastructures, therefore, finding new ways to tap into global capital markets, encourage more private sector investment in the sector and establishing public private partnership to ensure flow of finance to execute capital infrastructure. Managing infrastructure and recognizing its importance must be adopted in all sector of the economy. This is because infrastructure assets may need to be in place for time period for present and future asset. Implementation of the institutionalization measures to combat corruption to improve transparency. This is because corruption is one of the biggest sustainable development obstacles. In addition to ensuring that everyone has access to basic needs, governments must ensure that women and people with disabilities have equal access to productive resources such as grants, education and training, and employment opportunities. Educating young unemployed Nigerians, women, and persons with disabilities, and providing free education and healthcare, are keys to improving the educational and healthcare systems in Nigeria. The government must address the wide spread insecurity in the country to sstrengthening subsistence and small-scale Agriculture and pave wave for economic growth and development
Long-term Impact of FDI-Corruption Interaction on Domestic Investment in Nigeria
(Economic Alternatives, 2024) Nurudeen Abu; Ben Obi; Mohd Zaini Abd Karim; Awadh Ahmed Mohammed Gamal; Musa Abdullahi Sakanko; Joseph David
Over the past three decades, Nigeria has experienced unstable domestic investment and foreign direct investment inflows, and the country continues to face rising corruption and related problems. An ARDL technique has been adopted to explore the longterm FDI’s impact on domestic investment including evaluating if the FDI-domestic investment nexus is dependent on the control of corruption in Nigeria over this period. The bounds test result shows an evidence of a long-term relation amongst FDI, domestic investment and corruption control (including GDP per capita, lending rate, exchange rate and oil price). We find that increasing inward FDI reduces (crowd-out) domestic investment and greater corruption control (lowering corruption) leads to a higher domestic investment in Nigeria over the long-term. Also, the influence of FDI on domestic investment depends on (or varies with) the control of corruption. FDI crowd-in domestic investment at greater corruption control than at lesser corruption control in the long-term. Other significant long-term influencers of domestic investment are the exchange rate and oil price. Given these outcomes, the study offers some recommendations to boost domestic investment in Nigeria.
OIL PRICE AND PUBLIC EXPENDITURE RELATIONSHIP IN NIGERIA: DOES THE LEVEL OF CORRUPTION MATTER?
(Economic Studies, 2022) Nurudeen Abu; Joseph David; Musa Abdullahi Sakanko; Ben-Obi Onyewuchi Amaechi
We employ the non-linear autoregressive distributed lag (NARDL) approach to examine if the oil price and public expenditure relationship are dependent on the level of corruption using Nigeria’s quarterly data during the 1996-2019 period. The result of the NARDL-bounds test to co-integration demonstrates that there is a long-run relationship between the variables, and we found evidence of long-run asymmetry in this relationship. The estimation results indicate that both positive and negative shocks to oil price have a significant positive effect on public expenditure in the long run, and the impact of oil price on public expenditure depends on the level of corruption. In addition, the marginal effect of oil price on public expenditure varies at different levels of corruption. Other important factors that drive public expenditure in Nigeria, in the long run, include spending on internal security and debt service. Based on these outcomes, we proffer some policy recommendations
OIL PRICE VOLATILITY AND BALANCE OF PAYMENTS (BOP): EVIDENCE OF NIGERIA
(Bingham Journal of Economics Allied Studies (BJEAS), 2019) Musa Abdullahi Sakanko; James Obilikwu; Joseph David
This study examines the effect of oil price volatility on Nigerian Balance of Payment (BOP) from 1980 to 2017, using the Autoregressive Distributed Lag (ARDL) bound testing technique, and the Autoregressive Conditional Heteroscedasticity (ARCH)-type model (EGARCH-M) to examine the nature and behaviour of Nigeria’s oil (Bonny light) price volatility. The results from the ARCH-type model (EGARCH-M(1,1)) indicate that the Nigeria’s oil price volatility is not mean reverting, with negative shocks generating more impact than positive shocks, which is determined negatively by global oil supply and negatively by world oil demand. Equally, while the result of the ARDL bound test confirms the presence of co-integrating (long-run) relation between Balance of Payment and oil price volatility (and oil export and economic growth), the result from the ARDL model indicates the presence of significant negative relationship between oil price volatility and Balance of Payments in Nigeria, thus indicating the negative effect (deficit) of oil price volatility on Nigeria’s BOP, due to the overreliance and dependence of the economy on oil export. The study therefore recommends the diversification of Nigeria’s export basket, for enhanced participation of non-oil products, coupled with the adoption of the Petroleum Industry Bill (PIB), so as to enhance the productivity and performance of the country’s oil and gas industry, and making it internationally competitive
PRUDENT MACROECONOMIC MANAGEMENT AND POVERTY REDUCTION: EMPIRICAL EVIDENCE FROM NIGERIA
(DUTSE INTERNATIONAL JOURNAL OF SOCIAL AND ECONOMIC RESEARCH (DIJSER), 2019) Joseph David; Musa Abdullahi Sakanko; Ladan Amina Shuni
This study employs the ARDL bound testing technique to empirically investigate the impact of prudent macroeconomic management on poverty reduction in Nigeria from 1980 to 2017. Empirical results indicates the existence of co-integrating (long-run) relationship between poverty and macro-economic variables (economic growth, inflation rate, exchange rate, employment rate, Balance of Payments, loan and credit, lending interest rate, agricultural sector’s growth, and democracy). In addition, the results demonstrate that in the short-run, the past value of poverty rate, economic growth, exchange rate, Balance of Payments, and lending interest rate have a significant negative impact on poverty, while employment rate impact poverty positively in the short-run. Therefore, recommended the policy makers should put in place police programmes that will increase the growth of Nigerian economy by increasing effective loan and credit, employment and jobs, Balance of Payments surplus, agricultural growth, and democracy while reducing and stabilizing the general price level, exchange rate, and lending interest rate.
THE BEHAVIOUR OF TAX REVENUE AMID CORRUPTION IN NIGERIA: EVIDENCE FROM THE NON-LINEAR ARDL APPROACH
(Economic Studies, 2022) Nurudeen Abu; Mohd Zaini Abd Karim; Joseph David; Musa Abdullahi Sakanko; Onyewuchi Amaechi Ben-Obi; Awadh Ahmed Mohammed Gamal
One of Nigeria’s greatest challenges is the generation of adequate tax revenue to meet her rising expenditure, and the country has continued to contend with corruption, particularly in its public sector. We employ the non-linear autoregressive distributed lag (NARDL) technique to examine tax revenue behaviour amid corruption using Nigeria’s quarterly data over the 1999-2019 period. The result of the NARDL bounds test to cointegration demonstrates the presence of a long-run relationship between tax revenue and corruption along with income level, agriculture, inflation rate, foreign aid and female labour force participation. The results of estimation indicate the existence of asymmetry in tax revenue behaviour. We find evidence of a significant positive impact of negative changes in the control of corruption and a significant negative effect of positive changes in the control of corruption on tax revenue in the long run. Other long-run significant determinants of tax revenue in Nigeria include income level, foreign aid and female labour force participation. Based on these empirical outcomes, this study offers some recommendations.
THE DETERMINANTS OF DOMESTIC INVESTMENT IN NIGERIA: A NEW EVIDENCE FROM NON-LINEAR AUTOREGRESSIVE DISTRIBUTED LAG (NARDL) MODEL
(Economics and Management, 2020) Joseph David; Musa Abdullahi Sakanko; James Obilikwu
This study employs an extended Nonlinear ARDL cointegration approach to examine the determinants of domestic investment in Nigeria over the 1980-2018 period. The result from bound testing reveal the presence of cointegrating relationship between domestic investment and the included variables. The empirical evidence demonstrates that domestic investment in Nigeria is determined by inflation, real interest and exchange rate, government spending, electric power consumption, savings, per capita income, credit to private sector and the interaction between government spending and oil price in the short-run; and inflation, interest and exchange rate, government spending, internal conflict, savings, and interaction between oil price and government spending in the long-run. The results also suggest that the impact of increase in interest, inflation and exchange rate is statistically different from their decrease. In essence, this study recommends the increase in government capital expenditure, savings, diversification of the economy, reduction of lending interest rate, maintenance of investment-friendly inflation rate, and conflicts control.
The Effect of Democratic Zoning System on Nigeria Economy: Evidence of Niger State
(Etikonomi: Jurnal Ekonomi, 2018) Musa Abdullahi Sakanko; Joseph David
The introduction of the zoning system into Nigeria political space was to aid the smooth rotation of key political positions across the country. This policy is to achieve fairness, peace and equitable distribution of resource. Its adverse effect on the economy is thus something to worry about. Therefore, the study examines the effect of democratic zoning system on the economy of Nigeria, with special reference to Niger state. Employing descriptive statistics and multiple regressions. The results revealed that the elements of democratic zoning vis-àvis; peace, equity, unity and justice has a positive and significant effect on the growth of the Nigeria economy. The authors thus recommends the government at both levels should focus on providing simultaneous development projects to pave way for peace and unity, zoning system should be incorporated into the Nigeria constitution, unbiased and equitable distribution of resources across the economy.
The Effect of Electronic Payment Systems on Financial Performance of Microfinance Banks in Niger State
(Jurnal Bisnis dan Manajemen, 2019) Musa Abdullahi Sakanko; Joseph David
This study employs the cross sectional survey research design and the descriptive and ordinary least square regressions to examine the impact of Electronic-Payment Systems on the financial performance of Microfinance Banks and Institutions in Niger state, Nigeria. The results of the analysis indicate the presence of e-payment systems in the bank, which enjoys impressive acceptability, due to its ease of use and convenience. In addition, ATM facility, Internet payment options, e-payment cards, and mobile banking platforms shows a significant positive impact on the financial performance of COE-Minna microfinance bank. In essence, the improvement and review of e-payment platforms’ security, so as to attract more users, coupled with the reduction of charges associated with the use of the platforms as well as sensitization of potential users were recommended.
The Relationship between Poverty and Energy Use in Niger State
(UMYUK Journal of Economics and Development (UJED), 2018) Musa Abdullahi Sakanko; Joseph David
The paper examined the relationship between poverty and energy use in Niger state, Nigeria using a cross-sectional data randomly collected from 156 respondents in the State across the three senatorial zones. Employing descriptive statistics and Logit regression model, the result obtained revealed the existence of an inverse relationship between poverty and energy use in Niger state and statistically significant, while a proportionate relationship between income level and energy use was established which upheld the energy ladder hypothesis. Availability and affordability of modern energy relative to traditional energy negatively influence the use of modern energy in the state. The study thus recommends the actions of the government towards the reduction of poverty and increasing income level of individuals in the state as well as the enhancement of the availability and affordability of modern energy sources in the state.
THE ROLE OF GOVERNANCE ON WOMEN PARTICIPATION
(6A/540, Avas Vikas, Hanspuram, Kanpur-208 021, 2020) Nurudeen Abu; Musa Abdullahi Sakanko; Joseph David
Today women are fighting for employment, high representation in leadership, recognition, and equality at global, national, regional and local levels, while doing their best to bring up children to ensure that they are responsible citizens of the society. Good governance is very crucial in facilitating and promoting open, efficient and consistent participation of women at all levels of policy-making. It is on this note that this chapter highlights the role of governance on women’s participation. We argued that democracy and the rule of law cannot bring meaningful progress in any nation without the involvement of women because they tend to be less corrupt and sympathetic. The desire for a better economy and the quest for women’s participation in government and leadership have become increasingly dominant in the public and private domains. Despite efforts made by women to promote gender equality, very little has been achieved in terms of their participation in leadership and other spheres of life. In conclusion, the time has come to improve gender equality in decisionmaking, employment, among others, if any meaningful socio-economic and political progress is to be made.
The Role of Religion in Poverty Alleviation: Evidence from Nigeria
(UMYUK Journal of Economics and Development (UJED), 2018) Musa Abdullahi Sakanko; Joseph David
The religion, due to its proximity to the poor, remains one of the major stakeholders of poverty alleviation. The paper studied the role of religion in alleviating poverty in Nigeria using a 250 crosssectional data randomly collected across the country. Employing descriptive statistics and Logistics (Logit) regression model, the result obtained revealed that Religion; Zakah; the provision and creation of jobs by religious bodies; and conflict resolution are increasing functions of poverty in Nigeria, while Tithing; charity (Waqf); Educational aid (scholarships); and the provision of social amenities by religious bodies are poverty alleviating mechanisms in the county. The authors thus recommends the actions of the clerics of individual religious groups in the county to further encourage individuals towards charity/alms giving, provision of social amenities, scholarships and the compliance with Zakah