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Data localisation has increased the security of the data generated within the boundaries of a specific economy where the data was generated. Data is huge mass data generated by various sectors and the safety of confidential data generated is a priority for any nation. The aim of the research is to study the data localisation effect, compare its effect on the GDP of various countries, and to normalise and predict the GDP after data localisation is implemented in a particular country. The outcome of the paper is that Nigeria and Vietnam have greater GDP compared to India. From the study, it is found that out of nine countries taken for the study, eight countries have data localisation effect on its GDP, while one has no effect even after implementation. [ABSTRACT FROM AUTHOR]

The study investigates bank fraud and its implications on the Nigerian economy. The study specifically examined how clearing fraud, financial forgeries, and financial embezzlement affect Nigeria's GDP. Secondary series data were obtained from the Central Bank of Nigeria's statistical database without bias from 1986 to 2020. Stationarity, cointegration, VAR Granger Causality, and VAR tests were estimated at a 95% confidence level. The stationarity test reveals that all variables were stationary at the first difference, resulting in the use of Johansen co-integration, which demonstrates the absence of longrun form. As a result, we used the VAR technique and discovered that clearing fraud and financial forgeries significantly slow economic expansion, whereas financial embezzlement reduces GDP but not significantly. According to the VAR Granger Causality, clearing fraud and financial forgeries influence GDP while financial embezzlement does not support GDP. We conclude that bank fraud reduces Nigeria's economic growth. In light of this, we recommend that commercial banks strengthen their internal control systems in order to detect and prevent fraud and fraudulent activities, as well as protect their assets, in order to more efficiently support economic growth. Bank regulatory and supervisory bodies in Nigeria must improve their supervision by utilising all available tools to appropriately check and curtain the incidence of fraud and fraudulent practises in the Nigerian banking industry. [ABSTRACT FROM AUTHOR]

This paper is a comparative analysis of Nigeria and Kenya, the largest economies in West and East Africa respectively, on the basis of the time series properties of their economic activities through the Gross Domestic Product (GDP) and growth rate series. It further analyses how differing policy and political economy processes contributed to the two countries' economic growth trajectories despite becoming independent republics at almost the same time. We study the two economies using a long‐memory‐fractionally integrated approach. The results show a high degree of persistence in both cases. When non‐linearities are taken into account, evidence of mean reversion is found in the GDP series in the two countries. This is indicative of how the two countries in very distinct African contexts followed broadly different but, in some ways, similar paths toward economic growth since independence. [ABSTRACT FROM AUTHOR]

Gross domestic products (GDP) can be viewed as an internationally accepted measure of economy size and strength. Recent studies have described the relationship between economic growth in terms of GDP and income, decline in mortality and improved health outcomes of some countries. In this paper, stochastic models based on autoregressive integrated moving average (ARIMA (p, d, q)) models of various orders are presented, with a view to identifying the optimal model for the GDP of Nigeria. ARIMA (p, d, q) models are formulated for GDP from some economic components and Nigerian overall GDP on a yearly basis. The choice of ARIMA models of orders p and q is intended to retain any persistence in natural process. Observed data are compared with the fitted data using the optimal models. The result shows that the GDP from agriculture, industries, trade and services show statistically significant increasing trends (p value <2.22e-16) over the study period from 1985 to 2015 while the overall GDP decreases in 2016 due to a decrease in the GDP from industry and a slight decrease in GDP from each of construction, trade and services. Also, the Nigeria's GDP data is linear, nonseasonal and has no structural break. [ABSTRACT FROM AUTHOR]

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This paper is concerned with the unabated epileptic power (electric) delivery which is seen to be periodic with a struggling generation capacity and lossesprone inefficient transmission network in Nigeria. Ordinarily, it should mean that only an average Nigerian suffers directly, and only, the burden of this inefficiency, whereby electricity supply to power both household and commercial appliances becomes unpredictable. Yet, further studies have revealed that there is almost no other sector that this ineptitude does not impact indirectly, especially as adverse economic consequences. GDP per Capita versus electrical energy production data for Nigeria and selected countries for the year 2004 served as input parameters which underwent research validation. Small and medium scale enterprises (SMEs) were a case study in this paper. In the end, submissions are that apart from the internal devastating effect on SMEs, constant power outages have a major connection with the recent trends of big companies closing or relocating from Nigeria. To sum up, measures were suggested for improvement. [ABSTRACT FROM AUTHOR]

Purpose: This paper systematically reviewed the contributions of the recent Nigerian government agricultural policies and the impacts on the agricultural value chain system in line with the structural transformation of the sector and the Nigeria's vision 20:2020. The study also suggest strategies to upgrading various segments of the agricultural value chain and argue that Nigeria's agricultural sector requires huge investments and innovative ideas to increase production and create value addition across the most profitable areas of the value chain. Design/methodology/approach: The authors systematically present evidences and data from the Central Bank of Nigeria (the apex monetary authority of Nigeria) and Nigerian Bureau of Statistics (oversees and publishes statistics for Nigeria) to estimate the impact of Government agricultural policies on the value chains system. Findings: The study discovers that the various recent government policy interventions to tackle the austere challenges in the agricultural sector are yet to yield much significant solution. Given to the dwindling performance of the sector, the Nigerian agricultural value chain is somewhat affected with systemic and services gaps which underpin the market failures (missing markets and weak markets), although the agricultural value chain has the potential of triggering economic growth in a higher scale with a trickle-down effect to other sectors of the Nigerian economy. Practical implications: Overall, the findings indicate strategies to upgrading the production and processing segments of the agricultural value chain and argues that Nigeria's agricultural sector requires huge investments and innovative ideas to increase production and create value addition across the most profitable areas of the value chain. Social implications: The study proves that enhancing value addition in the agricultural sector is imperative to achieving triple-benefits of increasing productivity by building resilient systems that leverage on finance opportunities, deepening economic inclusive growth and achieving great milestones. Originality/value: This study is the first attempt to focus on agricultural value chain system in line with the structural transformation and the Nigeria's vision 20:2020. [ABSTRACT FROM AUTHOR]

This study examined the macro-prudential factors that affected Nigerian banks' stability between 1990 and 2020. The key purpose was to examine the extent to which RGDP growth rate, Inflation Rate, Balance of Payment (% of Total Assets), capital adequacy ratio, liquidity ratio, and sensitivity to market risk have affected banks financial stability in Nigeria. The data for the study were obtained from the CBN Statistical Bulletin, Financial Stability Report, and Annual Reports of all DMBs in Nigeria. Since the unit root test confirmed that the study variables achieved stationary both at level and first difference, the data were subsequently analyzed using ARDL approach. The findings showed that both in the short and long run, the real gross domestic product growth rate had a statistically significant beneficial influence on financial stability. Only in the short run do the rates of inflation, capital sufficiency, and payment balances have a negative, significant impact on financial stability. At a 5 percent level, liquidity had a significant beneficial impact on financial stability, but sensitivity to market risk had a significant positive impact in the short run but a negative impact over the long run. The paper is original by extending previous studies to developing economies and incorporated a wide range of macro-prudential determinants proxies such as RGDP growth rate, Inflation Rate, Balance of Payment (% of Total Assets), capital adequacy ratio, liquidity ratio, and sensitivity to market risk against subsequent studies. [ABSTRACT FROM AUTHOR]

This paper investigated the relationship between energy consumption, carbon dioxide (CO) emissions and GDP in Nigeria using autoregressive distributed lag approach to cointegration. The empirical results revealed that there is a long run relationship energy consumption, CO emissions and GDP. Both in the long run and short run, CO emissions has been found to have a significant positive impact on GDP, meaning that an increase in CO emissions facilitates GDP growth. On the other hand, energy consumption shows significant negative impact on GDP in the short run. We therefore, suggested that renewable source of energy such as solar and wind could be explored and considered as an alternative source of energy since Nigeria is well endowed with solar energy. This will assist in reducing CO emissions and at the same time sustaining long run growth in GDP. [ABSTRACT FROM AUTHOR]

Energy planning is an important tool for power system utility company and consumer's profitability and satisfaction respectively. This paper is a study of energy planning (forecasting) in Ogun state of Nigeria using Fuzzy Logic model. Population and gross domestic product (GDP) are used as the independent variables to forecast load demand based on the previous load demand. After arranging the variables into 5 membership functions and the 19 rules were created, the fuzzy logic model forecast the annual load demand for the next 10 years with a percentage error margin 0.95 % to 21.79 % which results to a mean absolute percentage error (MAPE) of 8.34 %. The result of the forecast shows that within the next 10 years, 2019 to 2028, an average power load of 1985.66 MWH will be required. [ABSTRACT FROM AUTHOR]

The growth of manufacturing sector output in Nigeria is currently sluggish, if not stagnant, despite massive inflows of Foreign Direct Investment (FDI) as well as macroeconomic policies initiated by successive Nigerian governments. The study investigated how macroeconomic policies and FDI inflows have impacted on the manufacturing sector in Nigeria. The Augmented Dickey Fuller (ADF) unit root test was adopted to determine the stationary properties of the data, and the order of integration of the variables was tested using the Johansen cointegration test. The impact and interactions of macroeconomic policies on the manufacturing sector are less understood and shallow in the extant literature. The government's macroeconomic policies encourage FDI in the communications and oil sector with a negative impact on the manufacturing sector. This is implicated in inadequate capital investments and technological diffusion. Nonetheless, the study shifts the paradigm in popular arguments that FDI is imperialistic, hence universally exploitative, to a new hypothesis that the failure of the manufacturing sector to tap into FDI and yield desirable growth output is linked to less viable globally competitive macroeconomic policy frameworks in Nigeria. The study therefore recommends that the Nigerian government should review its macroeconomic policies, particularly the monetary and exchange rate, and draw up proactive human capital development plans that can directly contribute to the development of the productive capacity of the country's population. [ABSTRACT FROM AUTHOR]

The study investigated the effects of monetary and fiscal policies on economic growth in Nigeria using various economic variables. The findings showed that gross capital formation, total number of employees, broad money supply, and lending interest rate are significant factors in determining economic growth in Nigeria. The study found that gross capital formation, total number of employees, and broad money supply have a positive and significant effect on gross domestic product (GDP), while lending interest rate has a negative and significant effect on GDP. The study recommended that the government should encourage more private investment in Nigeria by lowering the lending interest rate, which would lead to more borrowing by private investors and boost investment in the country. The study also recommended that government policies should be tailored towards creating more employment in Nigeria as this can lead to economic growth. Finally, the study concluded that monetary policy is more effective than fiscal policy in Nigeria, and the monetary authority should be sensitive in directing its policies to the sector that can propel economic growth. The study suggests that the monetary authority could use an expansionary monetary policy to reduce interest rates and encourage more investment, which would stimulate economic growth in Nigeria. [ABSTRACT FROM AUTHOR]

Inadequate revenue generation impedes economic growth. It retards the overall economic growth and behavior. It delays government decision formulation on expenditure. The issue has lacked attention from academics. Consequently, this study focuses on the relationship between revenue generation and economic growth in Nigeria. It employed time series data sourced from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS) from 1981–2018. Contributing to the debate on the revenue mobilization and economic growth nexus, the study used multiple regression to estimate the impact of government revenue mobilization on economic growth in Nigeria. Findings revealed that domestic debts and non-oil (NOIL) revenue positively and significantly impact economic growth while external debts and oil revenue revealed otherwise. Based on the findings, the study concluded that government revenue impacts economic growth. Consequently, the study recommends economic diversification through strategic programs aimed at enhancing growth rather than remaining a mono-economy. Furthermore, it recommends that the government should review the existing revenue mobilization strategy– especially the multifarious non-oil revenue bases to ensure improved revenue remittances. The study also recommended the need to formulate policies that will guarantee better utilization of both domestic and foreign loans with the aim of increasing productivity and enhancing revenue mobilization. It is also recommended that borrowing should be considered a last resort to fund government projects, and where it is unavoidable such borrowing should be limited to domestic debt (DD). [ABSTRACT FROM AUTHOR]

It is evident that there is nexus among electricity consumption, foreign direct investment and aggregate economic activity. Unfortunately, the causal relationship among the three variables in Nigeria based on modern econometric methods, recent time-series data and ways that sufficiently cater for inflation and population growth has not been adequately investigated. This study, among other things, used a trivariate vector error correction model, autoregressive distributed lag bounds test for cointegration and Granger causality test to analyse the causal relationship among electricity consumption, foreign direct investment and aggregate economic activity based on time-series data from 1970 to 2018. The study found the presence of neutral causality between electricity consumption and aggregate economic activity in the short run as well as unidirectional causality from aggregate economic activity to electricity consumption in the long run. The study also found the presence of unidirectional causality from foreign direct investment to electricity consumption as well as neutral causality between foreign direct investment and aggregate economic activity in both the short run and the long run. It is therefore recommended that steps should be taken to adequately increase foreign direct investment and aggregate economic activity in ways that will guarantee an optimal increase in electricity consumption in Nigeria. [ABSTRACT FROM AUTHOR]

Business combination over mergers and acquisitions (MandAs) have become global phenomenon to achieve economies of scale and higher productivity. This study examined effect of banks' mergers and acquisitions on Nigeria's economic growth prior to and after merger sessions. The study made use of secondary data obtained from Central Bank of Nigeria (CBN) Statistical Bulletin covering the period 1990-2004 for Pre-MandAs and 2005-2019 for Post-MandAs totaling 30 years. Descriptive statistics and ordinary least square regression were employed for data analysis. The results indicated that in the Pre-MandAs era, bank's capital base, credit granted to the private sector and bank spread positively enhanced economic growth howbeit; bank's gross credit adversely affected GDP. Findings also revealed that Post-MandAs era contradicted Pre-MandAs period, with all variables showing insignificant and unexpected relationship with economic growth, except credit granted to the private sector. This indicates that banks' MandAs has not positively and adequately impacted on Nigeria's economic growth during period under consideration. As a result, te study recommends that banks' regulatory and supervisory framework should be strengthened and healthy competition should be promoted. [ABSTRACT FROM AUTHOR]

The FinTech innovation of e-money products in the financial sector has not gained sufficient recognition in Nigeria's developing country. Despite the numerous economic benefits associated with this innovation, physical cash for financial transactions is still prevalent. Banks are still experiencing some level of cash withdrawals and deposits by individuals who refuse to embrace modern technology. This study stresses the economic benefits of e-payment channels available today and statistically supports evidence to substantiate their usefulness. In this study, we use banks' e-money products as the independent variables, while GDP is employed as a proxy for the economy. The data are collected from 2006-2019 and are analyzed with multiple regression techniques using Eviews version 9 software. The result shows that all banks' e-money products have a significant favorable influence on the economy except the POS that is yet to gain momentum. The study suggests the full implementation of the cashless policy, proper education of the populace and guidelines to check electronic fraud. [ABSTRACT FROM AUTHOR]

Revamping agriculture has been the top agenda for government and Non Governmental organization (NGO's) taking into cognizance the rate of poverty and hunger that is ravaging the people of the world where Nigerian is not an exception. This is majorly attributed to inadequate food supply arising from the method of production adopted. This is against the backdrop that majority of the farmers in the country are small farmers who rely on the traditional method of production. To remedy this situation creates the needs to mechanize the agricultural system of production. Though, adopting this method of production, the financial capability of the farmers is a determining factor. Government has been spearheading this drive to mechanize its agricultural system but the resources at its disposal are very limited. The dwindling drop in oil prices in the international market, has been negatively affected revenues. This necessitates the need to adopt a waqf system, most especially the cash waqf where it will be incorporated as financing instruments like ijarah, musharakah to these farmers on cooperative basis. The study concludes that by rendering such services to farmers will gradually change the paradigm in terms of the practice of agriculture. i.e it will phase out the traditional agriculture to a mechanized agriculture. Furthermore, the study recommends that an act for setting up waqf should be formulated or a unit should be carved out of the existing structures, public awareness should be properly done, central registry of waqf should be created and such system should be digitalized so as to make collections easier. [ABSTRACT FROM AUTHOR]

This study empirically examined the interrelationship between the construction sector, oil prices, and the actual gross domestic product (GDP) in Nigeria. Using annual economic data from the National Bureau of Statistics (NBS), the OPEC Annual Statistical Bulletin, and econometric statistics, we found that although very strong positive and significant correlations exist between the construction sector output and total GDP output (0.934), the construction sector output and oil prices (0.856), and the total GDP output and oil prices (0.822), these linear relationships only exist for a short time. However, these relationships do not result in any direct causal influence on each other, except for the uni-directional Granger causal relationship that flows from the total GDP output to the construction sector output, which implies that economic activities of other major non-oil sectors stimulate the construction activities in Nigeria. Thus, we argue that neither the construction sector nor the oil prices directly influence the aggregate economy; rather, the other sectors' activities stimulate the construction sector in Nigeria. Two policy recommendations for achieving the Federal Government's medium term Economic Recovery and Growth Plan (ERGP) are suggested: (1) the Nigerian government should de-emphasize overreliance on the oil sector through policy readjustment and (2) an urgent need for economic diversification in Nigeria exists, since we revealed that an increase in the aggregate GDP output is due to the activities of other non-oil sectors. [ABSTRACT FROM AUTHOR]