School of Innovative Technology (SIT)

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School of Innovative Technology (SIT)

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AN EVALUATION OF THE IMPACT OF THE INFORMAL SECTOR ON ECONOMIC GROWTH IN NIGERIA USING ERROR CORRECTION MODEL (ECM) 1985 - 2014
(Lapai International Journal of Administration, 2017) Musa Abdullahi Sakanko; Musa Salihu Ewugi
Nigeria with a population of over 160 million people has the highest numbers of workers in the informal sector in Africa. Informal sector therefore, plays a significant role in the Nigerian economy for it creates employment and reduces poverty. This study therefore, examines evolution of the impact of the informal sector on economic growth in Nigeria from 1985 to 2014, using Error Correction model (ECM) to analyze the data. The result reveals that informal sector has long-run and positive relationship with economic growth but statistically insignificant. Based on these findings, the study recommends fiscal regulation and employment policies to foster economic growth and development. And thereby, concludes that informal economy is a source of income but it is difficult to ascertain its contribution to economic growth and development of Nigeria in the short run.
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.
An Econometric Analysis of Causality between Poverty and Crises in Northern Nigeria
(SEISENSE Journal of Management, 2018) Musa Abdullahi Sakanko
The study focuses on the analysis of the causality between poverty and crises in northern Nigeria using the Granger causality test and the ARDL bound testing techniques. The study revealed the presence of causality running from poverty to crises and not the other way round as well as co-integration among the pairs. The long-run estimate thus showing poverty exhibiting a positive effect on crises which deviates from the negative relationship obtained in the short-run. The study thus recommends employing poverty reducing mechanism in the region coupled with the overhauling of the agricultural sector as most of the labor force in the region are unskilled which can be easily absorbed in the sector.
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.
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
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.
ASSESSMENT OF SHORT RUN AND LONG RUN DETERMINANTS OF EXCHANGE RATE IN NIGERIA 1980 TO 2015
(Sokoto Journal of the Social Sciences, 2018) Musa Abdullahi Sakanko; Mohammed Yelwa
This study is based on the investigation of the determinants of exchange rate in Nigeria using time series data from 1980 to 2015 and employed Autoregressive Distributed Lagged Model (ARDL) and Error Correction Mechanism (ECM) to capture both the short-run and long run determinants of exchange rate in Nigeria. The results revealed that the past value of interest rate, current inflation rate and current government expenditure causes the Nigeria exchange rate to appreciate, hence, they have a negative relationship with the exchange rate while past value of exchange rate, current value of interest rate, past value of trade openness, past value of government expenditure and current value of foreign direct investment causes depreciation of the Nigeria exchange rate due to their positive relationship with the exchange rate. The author recommend that the monetary authority should employ strategies that will prevent the rise in the interest rate differentials and previous value of exchange rate as well increase the inflation rate by employing the expansionary monetary policy. In addition government should increase their consumption expenditure and reduce the openness of the Nigeria economy by employing trade barriers which will lead to appreciation of the Nigeria exchange rate. As such, the government should discourage the inflow of capital from foreign countries as they cause the Nigeria exchange rate to depreciate.
ANALYSIS OF THE IMPACT OF FINANCIAL INCLUSION ON POVERTY REDUCTION IN MINNA NIGER STATE, NIGERIA
(Abuja Journal of Economics and Allied Field, 2018) Musa Abdullahi Sakanko; Audu Abdulkareem Usman; Musa Clement Lawal; Aliyu Musari Onimisi
Undoubtedly, financial inclusion has been considered as one of the ways of reducing poverty be-cause it favours mainly low-income groups by bringing a lot of welfare benefits to them through the basic services offered by financial institutions such as mobilization of savings, risk reduction, monitoring and advise, cost mitigation, reduction of information asymmetry, and allocation of funds to the most competent entrepreneurs to promote technological innovation and hence eco-nomic development. The study investigated the impact of Financial Inclusive on poverty reduction in Minna using logistics regression and the result revealed that formal ownership of the account, Financial adviser, teller point, and access to formal credit lead to an improvement in the welfare of people and statistically significant. Therefore, the study concludes that formal ownership of the account, financial adviser, teller point, and access to credit will help in the reduction of poverty in Minna Metropolis. Thus, recommend fiscal regulation, installation of teller or ATM point in stra-tegic places in both the rural and urban area, the establishment of customer advisory unit or de-partment in commercial banks, and checkmate of the commercial bank’s loan procedure by Central Bank of Nigeria,
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 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
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.
The Dynamic Impacts of Idle Cash on Economic Growth in Nigeria (1985 – 2018)
(Empirical Economic Review, 2019) Musa Abdullahi Sakanko; Abubakar Ijoko; Inuwa Yaqoub Mohammed
The study investigated the dynamic effect of idle cash on economic growth in Nigeria from 1985 to 2018 employing a mixed methodology. The qualitative result revealed that political affluence, social status, treasury single account, asset declaration, biometric verification number, whistle-blower programme, and the empowering operation of economic and financial crime commission for anti-corruption crusade determine idle cash in Nigeria. On the other hand, the quantitative result revealed that idle cash has an inverse effect on economic growth in the short run. However, the long run result revealed a positive, and statistically significant effect on the economic growth, and it was found that idle cash Granger causes economic growth. We recommend that the government should provide a policy regulation framework that will regulate, track and checkmate the superfluousnes of idle cash
Trade Openness And Inflation: Empirical Explanation of The Nexus In Nigeria
(International Journal of Social Sciences and Economic Review, 2019) Musa Abdullahi Sakanko; Joseph David
This study aims to examine the effect of trade openness on the inflation rate in Nigeria using time series data collected from secondary sources. The data were analyzed using EViews10, revealing a cointegrating and one-way Granger causality relationship between the inflation rate and trade openness. Both short-run and long-run results demonstrate a significant and negative relationship between the inflation rate and trade openness in Nigeria. These findings are crucial for governments and policymakers when making decisions regarding the consumer price index and trade openness. We conclude that the government should work towards full diversification of the economy away from oil exports, manage the degree of trade liberalization, control the influx of goods, and regulate the money supply. This study adds to the debate on the inflation rate and trade openness in Nigeria, addressing both short-run and long-run effects. It also highlights the need for further research, given the limited studies focusing on the impact of trade openness measured as the value of net export divided by gross domestic product. Finally, this paper contributes to the scant literature on this subject.
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.
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.
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.
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
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.
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.
Financial inclusion and women participation in gainful employment: an empirical analysis of Nigeria
(Indonesian Journal of Islamic Economics Research, 2020) Musa Abdullahi Sakanko
The paper examines the effect of financial inclusion on women participation in gainful employment in Nigeria for the period 1980 – 2018, employing the ARDL method. Both in the short run and long-run, the results indicated a positive relationship between financial inclusion and women’s participation in gainful employment. Thus, the paper recommends that the government ensure that financial inclusion barriers are reduced or removed. Reducing or removing will increase women’s participation in economic activities since financial inclusion measures are adjudged as convenient, safe, and prompt. Measures that will enhance private deposit and expansion of more commercial’s banks branch in rural areas to improve women’s access to financial services that discourage the use of informal financial services should be encouraged.