School of Innovative Technology (SIT)

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School of Innovative Technology (SIT)

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    Oil Price and Stock Prices Volatility Transmission in Nigeria
    (West African Economic Review, 2019) Sesan Oluseyi Adeniji; Kamaldeen Ajala; Musa Abdullahi Sakanko
    The study investigates the relationship among oil price (OP), oil price volatility (OPV) and stock price volatility (SPV) in Nigeria, using an Autoregressive Distributed Lag (ARDL) model, Toda-Yamamoto-Dolado-Lutkepohl (TYDL) test, and Breitung-Candelon Frequency Domain Causality Test. The study shows that OP causes the SPV and OPV in a one-way direction in the long run. However, there was evidence of bi-directional relationship with SPV in the medium-run. It also shows that the OPV and SPV positively impact OP in the short and long run. Overall, the study found that there is a greater tendency that oil price adjusts back to its long-run equilibrium when affected by stock market prices. Therefore, it recommends that policymakers consider the movement in oil price and stock price in shaping the capital market's operation and ensuring the proceeds from increased oil prices are utilised maximally for economic revitalisation in Nigeria.
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    ASSESSMENT OF LENDING INTEREST RATE ON THE GROWTH OF MANUFACTURING SECTOR IN NIGERIA: 1986 - 2015
    (Sokoto Journal of Management Studies, 2017) Musa Abdullahi Sakanko; Abdullahi Maria
    Over the years Nigeria Economy has been on growing path with the largest GDP in Africa. But the contribution of manufacturing sector is little due to some lingering challenges such as poor and decayed infrastructure, corruption, insecurity, government policies, and high interest rate. This study examines effect of lending interest rate on the growth of manufacturing sector in Nigeria from 1986 - 2015 using Autoregressive Distributive Lag Model (ARDL). The result illustrate negative and significant relationship between lending interest rate and the growth of manufacturing sector in Nigeria. Based on this findings, the researcher recommends that central Bank of Nigeria (CBN) should maintain the monetary policy rate at a level low than the current 11 percent enough to bring down the rate at which deposit money banks lend to their client and fixed decay infrastructure to economic growth and development.
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    POVERTY REDUCING MECHANISMS: EMPIRICAL EVIDENCE FROM POPULATION CONTROL AND INCREASE IN ASSET OWNERSHIP IN NIGER STATE
    (LAPAI INTERNATIONAL JOURNAL OF MANAGEMENT AND SOCIAL SCIENCES (LIJOMASS), 2018) Musa Abdullahi Sakanko; Umma Yahaya Sufiyanu
    Abstract Factors that influences poverty either negatively or positively differs with locations such as hamlets, rural and urban areas, hence the need for individual study factors such as population control and increasing asset ownership. The paper examined the mechanisms which reduces poverty in different region with special reference to asset ownership and population control. Using 150 cross-sectional data randomly collected, and employing individual Logistics regression model (Logit), the result revealed that asset ownership and credit facilities are significant in lowering poverty in all regions while family size, agricultural activities, low education and increase in living cost escalate poverty. The study thus, recommends that the overhauling of health and educational system in the country, as all other factors rely on it, enlightenment and discouragement against increase in family size, provision of credit facilities, and provision of housing infrastructure to reduce cost of living.
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    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.
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    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
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    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.
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    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
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    IMPACT OF FINANCIAL INCLUSION ON ACCESS TO HEALTH SERVICES IN NIGERIA
    (Journal of Economics and Finance, 2020) Musa Abdullahi Sakanko
    The study investigates the impact of financial inclusion on access to health services in Nigeria using the Autoregressive Distributive Lag (ARDL) model on the quarterly time-series data spanning from 2000Q1-2019Q4. The results of the bounds test to cointegration indicate that a long run relationship exists between Financial inclusion and access to health services. The estimation result shows that financial inclusion proxies (access to credit) have a positive and statistically significant effect on access to health services proxy (private health expenditure) both in the short run and long run. However, the number of commercial banks and deposit/savings ratio has a negative statistically significant effect on access to health services both in the short-run and long run. Therefore, the study recommends that the regulatory authority should address the rigid process of obtaining loans in Nigeria financial institutions to increase access to credit.
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    An ARDL Bound Approach to the Nexus of Minimum Wage Increase and Economic Growth in Nigeria
    (LAFIA JOURNAL OF ECONOMICS AND MANAGEMENT SCIENCES, 2022) Habiba Mohammed-Bello Umar; Musa Abdullahi Sakanko; Musa Salihu Ewugi; Abubakar Alhaji Sadiq
    his study examined the impact of the national minimum wage on economic growth in Nigeria. The Autoregressive Distributed Lag (ARDL) model of econometric technique was employed to analyse the data, keeping GDP as the dependent variable and minimum wage as the independent variable. The study revealed that increment in minimum wage was positive and significant in both the long and short run to GDP, implying that an increase in minimum wage will raise the economic growth rate. Therefore, the three tiers of government and the private sector in Nigeria should implement and upgrade to the new National Minimum Wage of N30, 000 to improve the income and capacity of low-skilled employees to enhance their economic growth.
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    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.