AN INVESTIGATIVE STUDY OF THE FACTORS AFFECTING THE ADOPTION OF INFORMATION AND COMMUNICATION TECHNOLOGY IN SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
►Irefin, I. A.,Abdul-Azeez, I. A. and Tijani, A. A.
This study collected survey data from 20 industrial Small and Medium enterprises located in different part of Lagos state to analyze the vital influential factors affecting their adoption of Information and Communication Technology from adopter and non-adopter perspectives. A logistic regression analysis was conducted to predict the adoption inhibiting factors by the measures of Cost; Business Size; availability of ICT Infrastructure; Government support; and Management support. The results indicate that Cost is a major barrier for Small and Medium enterprises in adopting ICT. Other critical determinants also include availability of ICT infrastructure; government support; Management support and business size in that order.
Keywords: ICT, Small scale, Enterprises, Nigeria
THE RELATIONSHIP BETWEEN ELECTRICITY POWER AND UNEMPLOYMENT RATES IN NIGERIA
►E.O. George and J.E. Oseni
The high level of unemployment and poor power supply to the industrial sector are the major problems facing the Nigerian economy. For the past two decades, successive governments in Nigeria have made futile attempts to address the issues of unemployment. Several scholarly studies have been conducted to establish relationships between unemployment and microeconomic variables without any serious attention on the relationship between unemployment and electricity power supply. The study addresses the question of the impact of electricity power on unemployment rates in Nigeria. This study using an ordinary least square regression model examined the influence of electricity power outputs, supply and consumption in addressing the high rate of unemployment in Nigeria. The study which covers the period of 1970 to 2005 discovers that power supply to the industrial sector was lower than the supply for residential consumption. The study also establishes that the major cause of unemployment in Nigeria can be traced to inadequate and unstable power supply to the industrial sector. The study advises the government and the policy makers to invest more in electricity power generation and ensures that the industrial sector is given a higher priority in the supply of electricity if the high unemployment rate is to be abated.
Keywords: Unemployment, electricity, industrial sector, consumption, influence
IMPACT OF CAPITAL MARKET REFORMS ON ECONOMIC GROWTH: The Nigerian Experience
►OKE, MICHAEL OJO. and ADEUSI S.O.
This study examines the impact of capital market reforms on the Nigerian economic growth between 1981 and 2010. The prevailing challenges in the World financial markets; especially the capital market justifies the various forms of reforms going on around the World. The ordinary least square method of regression and the Johansen co-integration analysis were employed to analyse the secondary data sourced from the Central Bank of Nigeria statistical bulletin, the Nigeria Stock Exchange Fact book and the Nigeria Security and Exchange Commission Reports. The results show that capital reforms positively impact the economic growth. The study recommends among others that government should objectively evaluate enacted laws and reforms agenda in a manner that will enhance economic growth rather than considering political issues before embarking on reforms.
Keywords: Capital Market, Reforms, Regression, Co-integration analysis, Capital Accumulation, Consolidation
CREDIT RISK AND COMMERCIAL BANKS’ PERFORMANCE IN NIGERIA: A PANEL MODEL APPROACH
►KOLAPO, T. Funso, AYENI, R. Kolade and OKE, M. Ojo
The study carried out an empirical investigation into the quantitative effect of credit risk on the performance of commercial banks in Nigeria over the period of 11 years (2000-2010). Five commercial banking firms were selected on a cross sectional basis for eleven years. The traditional profit theory was employed to formulate profit, measured by Return on Asset (ROA), as a function of the ratio of Non-performing loan to loan & Advances (NPL/LA), ratio of Total loan & Advances to Total deposit (LA/TD) and the ratio of loan loss provision to classified loans (LLP/CL) as measures of credit risk. Panel model analysis was used to estimate the determinants of the profit function. The results showed that the effect of credit risk on bank performance measured by the Return on Assets of banks is cross-sectional invariant. That is the effect is similar across banks in Nigeria, though the degree to which individual banks are affected is not captured by the method of analysis employed in the study. A 100 percent increase in non-performing loan reduces profitability (ROA) by about 6.2 percent, a 100 percent increase in loan loss provision also reduces profitability by about 0.65percent while a 100 percent increase in total loan and advances increase profitability by about 9.6 percent. Based on our findings, it is recommended that banks in Nigeria should enhance their capacity in credit analysis and loan administration while the regulatory authority should pay more attention to banks’ compliance to relevant provisions of the Bank and other Financial Institutions Act (1999) and prudential guidelines.
Keywords: Credit risk, Nigeria, Banking Firms, Profitability, Panel Data Regression.
LABOR TURNOVER: A Monstrous Development in a Mono-Cultural Capitalist Economy
►Omah Ishmael, Osamor . I .P and Ojo Agbodu Ayodele Abraham
Labor turnover in an illusionary capitalist economies of the 3rd world nations has been on the verge of eroding momentum in the last decade. Hence, the objective of this study is centered on the determination of adverse trend in the mono-cultural society.To determine the rate of influx of labor turnover using “TENDON SCALE” methodology, that will aid in establishing the evils of unemployment generated by it.To examine the advantages of labor turnover, if any, to the organization, as well as the general society, and to recommend a lasting solution that will curb the effects of LT, re-strengthen the labor relation laws of the advantage to the masses. The data collection is mostly based on primary sources as well as historical review of related literature was embarked upon to obtain a wider scope of coverage. Factual discussion was applied on time schedule on selected industries. A structured interview questionnaire was prepared consisting of (50) fifty in number tailored towards allowing individual respondents to expatiate his/her view on the rate of LT in his/her working place. The structured questionnaire was prepared in such away as to segmentize the labor structure/work force on functional basis in order to determine most affected segment of labor force of the organization. The analysis revealed that labor turnover is a hybrid of mono-cultural economy which begets the evils of unemployment ravaging the third world nations. A mono-cultural economy is one without alternative source of revenue, handicapped by vested interest of maraudours governance. A mono-cultural economy is characterized by ambiguity of approach due inconsistency in government policy and ideology, which has nothing to offer (survival of the fittest). When an economy is heavily dependent on one source of mainstay is described as mono-cultural society. Putting financial constraint apart, the study has been characterized by poor responses due to limited knowledge of the term labor turnover to the average worker.Labor laws in most third world nations are tailored to favor the employers rather than the employees, hence the actual cause/causes of LT cannot be ascertained based on responses from the employers and employees.Reasons for job satisfaction/unsatisfaction cannot be established due to the nature of labor laws that permits individual employer to determine the fate of the employees in his organization in mono-cultural economy. Data collection was handicapped by poor responses from the lower segment of the workforce that were restricted from having open interaction with outside visitor. Labor turnover should be a concern of the government for the benefit of its citizenship in all practical wisdom, but this is not the case in mono-cultural economy. It is a case of survival of the fittest, where a citizen is subjected to death penalty by labor laws which should have been in favor of the workforce. Mono-cultural governments are “banana” governments viable only to the survival of the fittest.
Keywords: mono-cultural economy, Banana government, eroding momentum, survival of the fittest, labor laws, heavily dependent, work-force, labor turnover.
BARRIERS IN IMPLEMENTING RADICAL/INCREMENTAL CHANGES IN MANUFACTURING – BASED GOVERNMENT ORGANIZATIONS