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Nenbee, Simeon G.
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Naira - Yuan Diplomacy: A Pathway for Unlocking Nigeria’s Manufacturing Sub-Sector Potentials Nenbee, Simeon G.; Orji, Jonah O.
Mediterranean Journal of Social Sciences Vol. 12 No. 1 (2021): January 2021
Publisher : Richtmann Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36941/mjss-2021-0006

Abstract

The fountain head for weighing one unit of a domestic currency in-terms of another within an international framework is rooted in the famous Gold Standard proposed by the Bretton Woods Institutions (BWIs). This brand of thought had since been practiced and experienced in numerous trade ties that Nigeria had had with China. Like other bilateral agreements, it sets to re-define and deepen the two countries’ economic space. Thus, this paper shed lights on Naira - Yuan Diplomacy as a Pathway for Unlocking Nigeria’s Manufacturing Sub-Sector Potentials.The manufacturing industries are engines of economic prosperity. Facilitation of job creation space and poverty reducing strategies are core values in manufacturing too. This paper conclusively presume that the exchange rate pass-through mechanism can transmit price increase and macroeconomic instability from China and supply shocks to the Nigerian economy (especially from manufactured products) when adequate provisions are not domestically taken. Furthermore, the Naira-Yuan diplomacy will increase imports from China thereby increase her foreign income since Nigeria will be spending more on Chinese manufactured products, hence, increase the national income of China. The policy implication of this finding is that the net exports of China will rise faster and add to her expansion of domestic income instead of Nigeria. The paper therefore calls upon Nigeria to be proactive in ensuring a stable trade and exchange rate policies to deepen technical innovation for local manufacturing tools to boost output rather than depending more on China. Received: 18 August 2020 / Accepted: 9 October 2020 / Published: 17 January 2021
Small and Medium Scale Enterprises’ Activities and Eonomic Developmemnt in Obio-Akpor Local Government Area, Rivers State, Nigeria Chidume, Ukamaka P.; Nenbee, Simeon G.
Mediterranean Journal of Social Sciences Vol. 13 No. 1 (2022): January 2022
Publisher : Richtmann Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36941/mjss-2022-0011

Abstract

This paper assesses the impact of Small and Medium Scale Enterprises (SMEs) activities on economic development in Obio-Akpor Local Government Area of Rivers State, Nigeria. To achieve this theme, an instrument Called Small and Medium Scale Enterprises Survey Questionnaire (SMEQ) was developed which focused more on employment generation and poverty reduction. The population of the study was chosen based on the two thousand six hundred and thirty-four (2634) registered SMEs with the Rivers State Ministry of Commerce and Industry in 2019. Based on simple random sampling technique, a total of three hundred and thirty-eight (338) respondents were sampled. Relying on descriptive statistics and logistic regression estimation techniques, the data were analyzed. Analyses of the respondents’ opinion suggest that the major businesses engaged in the study area were restaurant, tailoring and beauty/hair dressing. Again, majority of the respondents were of the opinion that SMEs operators do not have increased access to basic social-economic amenities. The output of the logistic regression result has it that an increase in firm size can improve the chances of SMEs fostering economic development in Obio-Akpor while increase in the salary of employees could also enhance the chances of SMEs to redress the rising poverty level too. The paper thus recommends that employment tax incentives should be granted to proprietors of SMEs and taming of the rising insecurity cases across the country. Received: 11 September 2021 / Accepted: 25 November 2021 / Published: 5 January 2022
Co-Authors Chidume, Ukamaka P. Orji, Jonah O.