Volume 8 Issue 2, 2025
Relationships between Security Expenditure, Institutional Quality, External Shocks, Human Capital Development, and Economic Growth in Nigeria (1996Q1-2023Q4)
- Hadiza Abdullahi,
- Akutson Seth
- Peter Adamu
- Auta Elisha Menson
- Ahmadu Ezekiel
Abstract
This study investigates the relationships between security expenditure, institutional quality, external shocks, human capital development, and economic growth in Nigeria (1996Q1-2023Q4). The analysis begins with unit root tests using the Augmented Dickey-Fuller method, confirming that all variables are stationary at the first difference. The Johansen cointegration test is then conducted, revealing at least two cointegrating relationship among the variables. The Vector Error Correction Model (VECM) estimates the model’s parameters and the speed of adjustment toward equilibrium. The results indicate that the error correction term (ECT(-1)) has a negative coefficient of -0.025 and a significant probability value, implying that any deviations from the long-run equilibrium relationship between security expenditure, institutional quality, external shocks, and economic growth will be corrected by 2.5% in the next period. The results show a significant positive relationship between past economic performance and current economic growth in the short run. Institutional quality and political stability significantly impact economic growth. The interaction term between security expenditure and political stability also has a significant positive impact on economic growth, suggesting that the effectiveness of security expenditure in promoting economic growth is contingent upon political stability. On the other hand, external shocks show significant negatively impact on Nigeria’s economic growth. Based on the results, the study recommends that the government of Nigeria should prioritize a comprehensive approach to promote economic growth, focusing on optimizing security expenditures aligned with national priorities, enhancing institutional quality through judicial reform and anti-corruption efforts, promoting political stability through inclusive governance, and diversifying the economy to reduce dependence on oil and promote non-oil sectors
Keywords: Economic Growth, External Shocks, Institutional Quality, Security Expenditure
Volume 8 Issue 2, 2025
Does Financial Technology Drive Inclusive Growth in Nigeria? Evidence from Toda-Yamamoto Causal Analysis.
- Faiza Adamu
- Babangida Danladi Safiyanu
- Aliyu Ismail Abdallah
- Saidu Mohammed Usman
Abstract
This paper examines whether financial technology drives inclusive economic growth in Nigeria using annual time-series data spanning 1999–2024. The study utilized Toda–Yamamoto causality framework to examine the relationship. The results reveal mixed orders of integration with no evidence of long-run cointegration, validating the application of the Toda–Yamamoto approach. Empirical findings indicate a unidirectional causal relationship from mobile money transactions to inclusive growth, suggesting that increased digital payment usage enhances financial inclusion, improves transaction efficiency, and supports income-generating activities, particularly among small businesses and low-income households. Inflation is also found to influence both inclusive growth and mobile money adoption, underscoring the importance of price stability for sustainable digital finance expansion. However, no causal feedback is observed from inclusive growth to financial technology adoption, implying that income growth alone does not automatically stimulate fintech usage without supportive infrastructure and digital literacy. The study recommends strengthening digital infrastructure, enhancing regulatory frameworks, promoting financial literacy, and sustaining macroeconomic stability to maximize the inclusive growth benefits of financial technology in Nigeria.
Keywords: Financial Technology; Inclusive Growth; Toda–Yamamoto Causality; Nigeria.
Volume 8 Issue 2, 2025
Effect of Zakah Disbursement on the Beneficiaries’ Economic Empowerment in Karaye Emirate Council of Kano State, Nigeria
- Abbas Ahmad Mustapha
- Prof. Daud Mustafa,
- Dr. Abdulsalam Sikiru Ademola
- Jamilu Sani Garba PhD.
Abstract
Ineffective disbursement of Zakah funds affects the effectiveness of Zakah institutions towards attaining their divine objectives in modern days. This study examined the effect of Zakah disbursement on economic empowerment of beneficieries in Karaye Emirate Council, Kano State, Nigeria. Using a cross-sectional survey and a self-designed questionnaire, data from Zakah beneficiaries were analyzed with a binary logit model. Thus, 520 copies of questionnaire were administered and 400 copies were considered usable for analysis using descriptive statistics and Logic model. Findings indicate that economic empowerment is positively linked to beneficiaries who received small business supports and were affected by poverty. Education level also played a significant role, as educated beneficiaries made better financial decisions. Conversely, factors such as food security and healthcare access had weak or insignificant effects on empowerment. The study concludes that Zakah enhances beneficiaries’ financial stability and economic empowerment. The study recommends that the Kano State Zakah and Hubsi Commission should intensify effort at strengthening Zakah disbursement, improve financial literacy, and focus on poverty alleviation, and small business support. These initiatives will enhance beneficiaries’ long-term economic welfare and empowerment.
Key Words: Beneficiaries, Disbursement, Economic Empowerment, Logit and Zakah.
Volume 8 Issue 2, 2025
Cost- Benefit Analysis of Investing in Locally Pelletized Fish Feed Production in Niger State, Nigeria
- Umar Jummai Khadijat
- Ifejica Philip
- Aliyu Rilwan
- Ibeu Dele
- Ebenezer Landu
- Garba Abubakar Usman
Abstract
The study assessed the profitability and economic viability of investing in locally pelletized fish feed production in Niger State, Nigeria. The research was motivated by the rising cost of fish feed, which significantly affects the profitability of fish farmers and limits the growth of aquaculture in the country. Primary data were collected from 215 locally pelletized fish feed producers using structured questionnaires and analysed using farm budgeting techniques, including net farm income, gross margin, and profitability ratios. The findings revealed that total variable costs accounted for 70.48% of the total production cost, while fixed costs constituted 29.52%. The estimated gross margin and net farm income were ₦233,425 and ₦122,425 respectively, indicating strong profitability. The rate of return on investment (RRI) was 0.33, the operating ratio 0.84, and the gross ratio 0.75, all of which confirm the economic viability of local feed production. The study concludes that locally pelletized fish feed production offers a profitable and sustainable agribusiness opportunity capable of enhancing rural employment, reducing production costs for fish farmers and supporting Nigeria’s food security goals. Therefore, it is recommended that government and development agencies promote the establishment of small and medium-scale local fish feed enterprises through targeted credit schemes, subsidized equipment, and technical training for producers
KEYWORDS: Aquaculture, investment, Profitability, Pelletized Fish Feed, Production, Niger state.
Volume 8 Issue 2, 2025
Effect of Banditry on Agricultural production and Food Security in Katsina State, Nigeria.
- Dr. Abdulsalam Abubakar
- Muaz Muhammad Lawal
Abstract
Banditry has become one of the most severe forms of insecurity confronting Nigeria’s North-West geopolitical zone over the past decade. Its persistence has disrupted socioeconomic activities, particularly food production and availability in Katsina State. This study examines the impact of banditry on food security and evaluates recent government efforts to mitigate its effects and enhance agricultural resilience. A qualitative research design was adopted, using Key Informant Interviews (KII) and Focus Group Discussions (FGD) as primary data sources. Three groups, each consisting of five participants, were selected from three Local Government Areas (LGAs) most affected by banditry: Jibia, Batsari, and Kankara. The data were analyzed thematically to capture participants’ insights on the relationship between banditry and food security. Findings reveal that banditry has severely undermined food security through the killing and kidnapping of farmers, forced displacement, land seizure, cattle rustling, destruction of grain reserves, and blockade of rural trade routes. Although both federal and state governments have implemented various interventions to curb banditry and restore agricultural activities, these measures remain inadequate and have not achieved the desired outcomes. The study concludes that sustainable food security in Katsina State cannot be attained without addressing the root causes of banditry. It recommends decisive, coordinated, and community-driven actions, including improved community policing, deployment of trained security personnel, rehabilitation of displaced farmers, provision of agricultural incentives, and strengthening of local governance to enhance rural security and restore farmers’ livelihoods.
Keywords: Banditry, Food Security, Insecurity, Katsina State
Volume 8 Issue 2, 2025
Assessing the Performance of Women Entrepreneurs in Sokoto State, Nigeria
- Abdullahi Shehu
- Maria Abdullahi
Abstract
This paper assessed the performance of women entrepreneurs in Sokoto metropolis, Sokoto State, Nigeria. Specifically, the study examined the socio-economic characteristics of women entrepreneurs in Sokoto, assess their entrepreneurial activities, evaluate the challenges they are facing and analyze the impact of these challenges on their performance. The methodology involved descriptive survey using a structured questionnaire administered to a sample of women entrepreneurs in Sokoto State. Data for the study was analyzed using descriptive and inferential statistics. The results of the analysis revealed that women entrepreneurs in Sokoto State predominantly operate in the informal sector, engaging primarily in trade and agriculture. Significant challenges identified include limited access to finance, inadequate skills development opportunities, lack of government support and gender-based discrimination. These challenges, particularly limited access to finance, negatively impacted on the profitability and sustainability of their businesses. The study concluded that women entrepreneurs in Sokoto State face significant hurdles to success, hindering their contribution to economic growth and sustainable development. In line with the findings, the paper recommends the need for the t to develop targeted financial support programs, improved access to skills training and mentorship, increased government intervention and policy support and the implementation of strategies to address gender-based discrimination.
Key words: Women. Entrepreneurs, Performance, Sokoto
Volume 8 Issue 2, 2025
THE TRAJECTORY OF SELECTED ANTI-POVERTY PROGRAMMES IN NIGERIA AND THE NATIONAL SECURITY NEXUS
- Iliyasu Biu M. (PhD)
- Orluchukwu Godwin (PhD)
- Ruth Joshua Mele (PhD)
- James, Treasure Nkemdilim (PhD in view)
- Rehila Jenis
Abstract
This paper examines the efficacy of selected federal anti-poverty programs in Nigeria (1999-2020) and their implications for national security, using the exclusion of the Almajiri population in Northern Nigeria as a critical case study. Drawing on secondary data analysis and a review of policy documents, the study finds that several anti-poverty program failures are rooted in poor leadership, flawed implementation, and the systemic exclusion of the most vulnerable groups coming from three major themes. This exclusion, it argues, fuels insecurity by creating a pool of disenfranchised youth. The paper concludes by calling for radical leadership reform and targeted, inclusive programming to mitigate this security threat.
Key Words: Poverty, antipoverty programs, National Security and Almajiri
Volume 8 Issue 2, 2025
The Role of Climate Change and Human Capital in Shaping Food Affordability in Nigeria
- Muaz Muhammad Lawal
Abstract
This study examines how climate change and human capital affect food affordability in Nigeria, using annual time series data spanning from 1971 to 2023. Applying the Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) techniques, the analysis explores the effects of four key variables: CO₂ emissions (serving as a proxy for climate change), the human capital index, population growth, and GDP per capita. Food affordability is measured using the food price index. The findings indicate that CO₂ emissions significantly drive-up food prices, reflecting the detrimental impact of climate change on food affordability. Conversely, improvements in the human capital index through better education and healthcare are associated with reduced food prices, highlighting the role of human capital in boosting labor efficiency and lowering food costs. GDP per capita is found to enhance food affordability, while rising population growth contributes to higher food prices due to increased demand. The study recommends greater investment in human capital, the implementation of climate-resilient agricultural strategies, and effective population management policies to strengthen food affordability and promote sustainable food security in Nigeria.
Keywords: Climate Change, Human Capital, Food Affordability, Nigeria
Volume 8, Issue 2, 2025
FISCAL SPENDING AND UNEMPLOYMENT DYNAMICS IN NIGERIA (1999–2025)
- OYEDIRAN, Adegboyega Alimi
- OYEDEJI, Oluwasanmi
- OLOMOLA, Abidemi Margaret
Abstract
Against the backdrop of rising public expenditure and persistent unemployment in Nigeria’s post-1999 democratic era, this study investigates the relationship between government spending and unemployment from 1999 to 2025, with emphasis on recurrent and capital expenditure. The Autoregressive Distributed Lag (ARDL) model was employed to estimate both short- and long-run dynamics. Preliminary analyses, including descriptive statistics and unit root tests, established the data properties, while the bounds test assessed long-run relationships. The results reveal that recurrent expenditure significantly reduces unemployment in the short run, indicating that spending on wages and administrative services supports employment stability. In contrast, capital expenditure exerts no significant short-run effect, likely due to implementation lags and weak transmission mechanisms. The bounds test provides inconclusive evidence of long-run cointegration. The study concludes that the impact of government expenditure on unemployment is predominantly short-run and underscores the need to enhance the employment-generating effectiveness of public spending.
Keywords: Government Expenditure, Unemployment, Fiscal Policy, ARDL Model
Volume 8 Issue 2, 2025
Asymmetric Dynamics of Inflation and Poverty in Nigeria: Short-run Shocks and Long-run Equilibrium
- Emmanuel Ifeanyi Ajudua
- Anthony Ilegbinosa Imoisi
Abstract
This study investigates the inflation-poverty nexus in Nigeria using annual time-series data from 1990 to 2024. Employing the Vector Error Correction Model (VECM) within a cointegration framework, the study examines both short-run and long-run relationships between poverty and five macroeconomic variables: inflation, foreign exchange rate, unemployment, GDP growth, and government social expenditure. Unit root tests (ADF and Phillips-Perron) confirm all variables are I(1), and the Johansen test reveals one cointegrating vector. The study findings show that inflation exerts a significant positive impact on poverty in both the short and long runs, consistent with theoretical expectations that rising prices erode real incomes of low-income households. Government social expenditure and GDP growth significantly reduce poverty, validating their poverty-alleviating roles. Exchange rate effects are mixed, reflecting Nigeria’s external sector vulnerabilities, while unemployment exhibits a counterintuitive negative correlation, likely explained by informal sector absorption. These results are robust to residual diagnostics. Policy implications suggest that monetary authorities should prioritize inflation control as a poverty reduction strategy, fiscal policy should sustain pro-poor social expenditures, and growth policies must ensure equitable distribution of benefits across sectors.
Keywords: Inflation, Poverty, Government Social Expenditure, VECM, Nigeria
Volume 8 Issue 2, 2025
IMPACT OF TRANSPORTATION INFRASTRUCTURES ON NIGERIA'S ECONOMIC GROWTH AND DEVELOPMENT (1984 - 2024)
- Kabir Ibrahim Halliru
- Idris Sufiyanu Elatikpo
- Nuhu Tukur Ibrahim Ph.D.
Abstract
This study aimed at investigating the impact of Transportation Infrastructures on Economic growth in Nigeria from 1984 to 2024. The study makes use of Vector Error Correction model (VECM) mechanism as the technique of analysis; causality test was also conducted to determine the causal relationship among the variables in the study. The cointegration result revealed that there is a long-term relationship among the variables. The result of the error correction mechanism revealed that the variables of transport infrastructure have a positive impact on growth domestic product while corruption has a negative statistically significant impact on Economic growth in Nigeria, while. The coefficient of ECM is negatively signed and statistically significant with coefficient of (-0.89). This means that the short run dynamics adjusted to the long run equilibrium relationship. Based on the findings this study recommends that the government through the right authorities should ensure adequate provision of transport infrastructures, to maintain a sustainable Economic growth and development. The government should also embark on policies to checkmate corruption practices to ensure effective and efficient utilization implementation of right policies so that the standards of the Nigerian transport sector will improve brings about sustainable Economic growth and development in Nigeria.
Keywords are Transportation, Transport infrastructure, Economic growth, Corruption, Error correction mechanism.
Volume 8 Issue 2, 2025
Impact of Agricultural Extension Services on the Productivity of Smallholder Farmers as Rural SMES in The Southern Zone of Nasarawa State.
- ATIKU, Adam Shuaibu
- MUHAMMAD, Abubakar Agwai
- Haruna Salihu Ozomata
Abstract
This study investigates the impact of agricultural extension services on the productivity of smallholder farmers, viewed as rural SMEs, in the southern zone of Nasarawa State, Nigeria. Smallholder farmers dominate Nigeria’s agricultural sector, yet their productivity remains low due to limited access to modern knowledge, technology, and markets. Extension services are globally recognized as a catalyst for rural transformation, but their effectiveness in Nasarawa State remains underexplored. Motivated by the urgent need to strengthen food security, diversify the economy beyond oil, and reduce rural poverty, this study examines how extension services contribute to smallholder productivity and local economic development. A survey research design was adopted, with data collected through structured questionnaires administered to 384 small-scale farmers selected via multi-stage random sampling. The Cochran formula guided the determination of the sample size, given the absence of a comprehensive farmer registry. Ordinary Least Squares (OLS) regression was employed to assess the effects of farmers’ awareness of extension services, the quality of technical and advisory support, and barriers to access. Findings reveal limited outreach of awareness programs, significant positive impacts of technical services, and mixed outcomes of advisory support. The study recommends capacity strengthening, digital integration, and tailored advisory reforms to position smallholders as viable SMEs driving productivity, finance access, and food security in Nasarawa State.
KEYWORD: Agricultural Extension Services, Productivity, Development, Small Holder Farmers, SMEs.
