ABSTRACT Value Added Tax (VAT) is a consumption tax on the value added to a product in the process of production. Like all other indirect taxes, it is a tax that targets the final consumer of goods and services. The main purpose of VAT in Nigeria is to increase government (state and Local) revenue from the non-oil sector thereby reducing the government’s dependence on oil sales and the budget deficits. In this research work my aim is to determine the stabilizing roles of VAT in the Nigerian...
AbstractUndoubtedly, parts of the macroeconomic goals which the government strives to achieve are the maintenance of stable domestic price level and full-employment. Macroeconomic performance is judged by three broad measures- unemployment rate, inflation rate, and the growth rate of output (Ugwuanyi, 2004). Unemployment has been categorized as one of the serious impediments to social progress. Apart from representing an enormous waste of a country‟s manpower resources, it generates welfare...
ABSTRACTThis study was carried out to determine the effect of stock market on capital formation in Nigeria. The variables included in the model were, Gross Fixed Capital Formation, value of share traded, interest rate, inflation rate, commercial bank investment indicator, and Stock Market Capital. Data were sourced from CBN statistical bulletin (2011). The study employed OLS technique to determine the effect of stock market on capital formation. The empirical finding shows that stock market c...
Abstract By the time Nigeria became politically independent in October 1960,agriculture was the dominant sector of the economy, contributing about 70% of the Gross Domestic Product (GDP) employing about the same percentage of working population and accounting for about 90% of foreign exchange earnings and the federal government revenue (CBN, 2005). The early period of post-independence up until the mid-1970’s saw a rapid growth of industrial capacity and output as the contribution of the ma...
ABSTRACTThis study attempts to investigate the Role of the Stock Market in the Growth of the Nigerian Economy spanning through 1980 – 2010. The broad objective of this work is to ascertain the role of the stock market in output growth in Nigeria using Market Capitalization as a proxy for the stock market taking cognizance of some intervening variables. This was evaluated using OLS Method. It was observed that market capitalization has a significant impact on economic growth as well as the l...
ABSTRACTThe term ‘unemployment’ can be defined as an economic condition marked by the fact that individuals actively seeking for job remain unemployed. Unemployment is very common in under-developed nations like Nigeria and it affects graduates of various institutions of learning. The study was designed to investigate the impact of unemployment on economic growth in Nigeria for the period of 29 years (1982 – 2010). The focus of the research was to determine the cause and impacts of unem...
ABSTRACTWhat if the transportation section, stagnant, almost every section of any given economy will not perform well as expected. Te importance of transportation in developing or advanced economics cannot be over emphasized. Transport is one of the main sector that remains as the cornerstone of every nation for achieving growth and development as well as gaining political and economic independence. The study shows the relationship between transportation and economic development and also the ...
ABSTRACTThis work was done to analyze the impact of public spending on poverty eradication in Nigeria from (1980-2011). In this research work, multiple regression analysis was used and five variables were used in the empirical analysis. They are government expenditure on agriculture and water resources (AGWR), health (HTH) education (EDU) transportation and communication (TRCM) and Housing and environment. The data used in this research was collected from secondary data obtained from National...
Abstract To be able to transform into an industrialized economy an underdeveloped economy has to privately and commercially develop.The importance of establishing public enterprises or corporations began during the 19th century with the British Telecom in 1884 under the telecommunication act and gained a worldwide support in Britain. Thereafter several nations particularly those in Africa, have come to embrace the principle as a way of eliminating low performance and inefficiency in the publi...
ABSTRACTSo much effort has been made towards understanding the relationship between privatization and commercialization and the economic growth of Nigeria. Privatization and commercialization of pubic enterprises in every economy is introduced for the attainment of specific objectives which includes economic growth and stability. Data was collected and analyzed using ordinary least square method (OLS). The result of the study shows that there is a positive but insignificant impact of private ...
ABSTRACTThe petroleum sector is an indispensable body in Nigeria economy. It has remained the Nigerian biggest revenue earner. It still brings in more than 80% of the foreign exchange earned by the country. However, this resulted in the shortage of the quantities of petroleum products consumed locally in the country. Hence, the problem of development is generally faced in Nigeria. This work will as well go to show what actually constitute the petroleum subsidy in Nigeria. It will analyze the ...
ABSTRACTThis research work was conducted to investigate the impact of the oil industry on the economic growth performance of Nigeria. In the process of the research, the ordinary least square (OLS) regression technique was employed. Considering the impact of time on changes in economic variables, the analysis was carried out using the simple regression method in which Gross Domestic Product (GDP), proxy for economic growth was used as the dependent variable, while the oil Revenue (OREV) and t...
ABSTRACTThe earnest expectation of every economy over the year has been to attain the highest possible level of economic growth and development. This research work is on the ‘’Impact of Monetary Policy on Economic growth in Nigeria’’ between the period of thirty years (30) covered from 1980-2010. The Impact of monetary policy in an economy has been a continuous discussion in every economy especially developing economics which will give rise to economic growth and development of a nati...
ABSTRACTThis research work investigates the impact of minimum wage fluctuation on growth of Nigeria economy. Determinants of labour market in Nigeria arising from the economic transformation in recent years, and how public policy affects in particular labour market outcomes. The result has shown that increase in minimum wage increase by l unit (1 million), increase real gross domestic product by 0.038million. Similarly, an increase composite consumer price index in by 1 unit (1 million) reduc...
ABSTRACT It is an undisputable fact that the contribution of microfinance to entrepreneurship activities is increasing being recognized as a primary engine of economic growth. (The Economist, May 18th 1996). By combining existing resources with innovative ideas, entrepreneurs add value through the commercialization of new products, the creation of new jobs and the building of new firms. The Global Entrepreneurship Monitor (GEM) indicates that nations with higher levels of entrepreneurial acti...