FINANCIAL DEEPENING AND SELECTED NON-OIL SECTORS GROWTH IN NIGERIA: ARDL ANALYSIS AND VECM |  Journal of Economics and Trade.

Using a co-integration research approach of Auto-regressive distributed lag, this article investigates the causal impact of financial deepening on the contribution of the Wholesale and Retail, Service, and Construction sectors to economic growth in Nigeria from 1993Q1 to 2020Q4 (ARDL). The analysis found statistically significant financial deepening to drive long-term and short-term economic growth across the three non-oil sectors, after accounting for probable effects of crude oil prices and trade openness in these non-oil sectors. Overall, the findings highlight the importance of Nigeria’s financial intermediary system in terms of capital mobilisation and allocation, as well as boosting non-oil private sector economic activities. As a result, establishing intermediation in the financial sector may be the best option for increasing Nigeria’s oil industry dominance.

Please see the link :- https://www.ikprress.org/index.php/JET/article/view/6673

THE DYNAMICS OF REGIONAL INFLATION RATES IN NIGERIA |  Journal of Economics and Trade.

The lack of pricing control in Nigeria, as well as the attitude of retailers, has resulted in no discernible pattern in inflation rates. Consumers have relied on retailers to fix prices on a daily basis. Retailers can decide what price things are sold in the market at any time. As a result, there are variances in inflation rates across the country. The national government pays little or no attention because the national inflation rate is its primary concern. The National Bureau of Statistics’ pricing section collects data on prices that are used to create state price indices. The state index series available at the National Bureau of Statistics is used to compute state inflation rates for all states in order to study the reasons behind the fluctuations in inflation rates. The country’s existing regional structure was used to compute average inflation rates of states within each region, which was then used to generate a multiple regression model of inflation rates for the regions, revealing that the North West and South East contribute the least to Nigeria’s rising inflation rates. Despite the above finding, the study was able to determine that the North is the primary contributor to Nigeria’s rising inflation rates. The hypothesis was investigated using analysis of variance, and the results showed that there was no significant difference in the means of inflation rates between the regions over the study period.

Please see the link :- https://www.ikprress.org/index.php/JET/article/view/6938

PICTOGRAPHIC INTEGRAL OF CHALLENGES AND PROSPECTS OF CASHLESS FRUGALITY IN NIGERIA |  Journal of Economics and Trade.

In Nigeria, cashless frugality refers to a move toward cashless transactions via decreasing the use of real cash. The purpose of this paper is to present Nigeria’s status as a cashless society, as well as the obstacles and opportunities that such transactions bring.

All thirty-six (36) states and the Federal capital territory (FCT) data sets were used. Secondary data was acquired from the Nigeria Interbank Settlement System (NIBSS) website and the Central Bank of Nigeria (CBN) statistical database/website. The data was analysed and graphically represented. The findings revealed that introducing cashless frugality in Nigeria was a positive step that aided frugality growth and development. Furthermore, the difficulties and potential of a cashless Nigeria in terms of promoting electronic cash instruments and developing automated economic facilities were highlighted.

Please see the link :- https://www.ikprress.org/index.php/JET/article/view/6795

MODELING THE DYNAMICS OF CRUDE OIL PRICES AND ITS INTERACTION WITH EXCHANGE RATE IN NIGERIA |  Journal of Economics and Trade.

The emergence of the coronavirus epidemic, as well as the subsequent worldwide recession, has piqued researchers’ and stakeholders’ interest in how oil price dynamics affect Nigeria’s exchange rate performance. This interest stems from the tremendous volatility of the period and the failure of many countries to cope with it, leading to the economic crisis of many, including Nigeria. The global supply of commodity products and services was disrupted by the Coronavirus, which caused major markets to crash, notably the crude oil market. Oil prices fell from $67.12 per barrel on 2 January 2020 to $12.22 on 22 April 2020, and then to $40.91 on 22 October 2020, during the mild stage of the epidemic. As a result of these occurrences, this study investigates the impact of oil price dynamism on the performance and exchange rate of the crude oil market. The impulse response function, variance decomposition, and granger causality were calculated using the Toda-Yamamoto model using monthly data from 2000m1 to 2020m6. The data show that the Nigerian stock market is predominantly controlled by macroeconomic global factors. Specifically, when the price of oil becomes erratic and unpredictable, investors prefer to have cash on hand rather than invest in the market at a risky time. The data show that oil price shock, rather than oil price fluctuation, has a significant impact on the exchange rate. Furthermore, the exchange rate reacts negatively to oil price shocks but favourably to volatility in oil prices. The granger causality result, on the other hand, reveals that the control of oil price volatility on the exchange rate is not significant..

Please see the link :- https://www.ikprress.org/index.php/JET/article/view/6415