BACKGROUND OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
CHAPTER ONE INTRODUCTION 1.1 Background of the study Today’s globalised world is a world of interdependence, self dependence even when desired is difficult to achieve; some countries in the past have adopted autarkical policies to try to live in isolation alas, measures like that are difficult to achieve due to variations in endowment placed on countries by Mother Nature, they could not provide all their needs, in fact, they ended up with welfare losses (e.g. Spain under Franco). Also, it is as
BACKGROUND OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
Gamage1*, Adamu Tijjani Musa1 Abstract This empirical study was carried out to test the stability of aggregate money demand function in Pakistan. The economic theory suggests that income and inflation is positively related to money demand while rate of interest has an inverse relation with it. The autoregressive distributed lag model (ARDL) was applied and it confirmed the long run relation between the studied variables. The coefficients of income, rate of interest and inflation have statistically significant
CHAPTER ONE INTRODUCTION 1.1 Background to the Study In the aftermath of Johnson Matthey Bankers’, Enron Corporation, WorldCom incorporated failure and a good number of other corporate financial scandals, issues of corporate governance became the focus of public discussion, as poor governance practice was identified as a major contributor to most of the failures. Furthermore, the tragic event of the Russian financial scandal and Asian financial
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Nigeria has been suffering the negative environmental consequences of oil development since oil was discovered in Nigeria (Badejo and Nwilo 2008). The growth of the country’s petroleum industry combined with an increasing growth rate in human population and a lack of enforcement of environmental regulations and commitment on the part of government has led to substantial
For internal migration which is mostly the rural-urban drift, most rural dwellers move for economic or security reasons. For instance in the case of Nigeria, with the onset of the terrorist attacks in the north most of the people there have moved to the south for security. Others move to the cities because they believe there are more opportunities and entrepreneurs (mostly micro-entrepreneurs) move to gain a greater market for their businesses. (Todaro and Smith 2011) In the area of international
venture capital companies, mutual funds etc. and other modarabas, stock exchange and insurance companies. The supervisory responsibilities in case of banks, development finance institutions and micro finance banks under the prevalent legislative structure that falls within legal ambit of state bank of Pakistan while the rest
season which means a lot of agriculture is not happening, so down the line that will create food shortages and pressures on food prices. We are starting to see a rise in inflation and pressure on the national currency as well as a shortage of foreign exchange”. It also has a big impact on the mining sector: The world's largest steelmaker ArcelorMittal has seen work disrupted on its iron ore mine expansion project in Yekepa in Liberia, after contractors declared "force majeure" and moved people out of
thereby to bring about a particular political objective. The main terrorist group that has been a serious threat to education in the north-east region of Nigeria is the Boko Haram terrorist group. It has been described as one of the deadliest, extremist armed groups in the world. The already existing low level of education and literacy in north-east Nigeria have been aggravated by the Boko Haram terrorist group. Over the years education has been under attack in the region, most violent activities apart