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HEADLINE INFLATION AND CONSUMERS' CONFIDENCE IN NIGERIA Aberu, Felix
Jurnal Ekonomi dan Bisnis Airlangga Vol. 33 No. 1 (2023): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V33I12023.30-39

Abstract

Introduction: The Nigerian economy experienced a significant growth turning point in early 2000 after returning to democratic rule in 1999. Nonetheless, the country's strong economic growth has done little to address the issues such as poverty, inequality, unemployment, the exchange rate, inflation, and interest rate spread. As a result, consumer confidence falls, resulting in lower spending. Methods: The ARDL model was used to highlight the importance of consumer confidence (household spending) and inflation in Nigeria using data from the cbn survey of consumer expectations from 1996 to 2022. Results: The findings show that a unit increase in headline inflation corresponds to a 0.01 increase in consumer confidence, implying that consumers lose 99.99 percent of their confidence at every point of increase in headline inflation, indicating that headline inflation is a core determinant of consumption in Nigeria. Conclusion and suggestion: In light of the study's findings, the federal government should consider raising the nation's minimum wage, among other policy options, in order to increase household consumption expenditures. Furthermore, Nigerian government policies should address disparities in consumption among the citizenries. 
Fiscal Stability and Inclusive Growth in Nigeria Toriola, Anu K.; Aberu, Felix; Amusa, Salami O.; Adeniwura, Oluwatoba O.; Mustapha, Babajide H.
Indonesian Journal of Contemporary Education Vol 4, No 2 (2022)
Publisher : SAINTIS Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (561.074 KB) | DOI: 10.33122/ijoce.v4i2.36

Abstract

In Nigeria fiscal stability has deteriorated resulting in high rate of deficits and domestic debt. This study investigates fiscal stability and inclusive growth in Nigeria using annual data from the Central Bank of Nigeria (CBN) Statistical Bulletin from 1985 to 2015. The result Autoregressive Distributed Lag (ARDL) estimation technique used in the study showed that in the short run debt ratio and inflation have a significant negative effect on inclusive growth in Nigeria. However, in the long-run, debt ratio have a significant negative effect on inclusive growth. Fiscal deficit and inflation have a significant positive effect on inclusive growth. The Granger causality test shows a uni-direction causality relationship between inclusive growth and fiscal stability measures running only from debt ratio and fiscal deficit to inclusive growth. It is evident from the result that fiscal stability in Nigeria is characterised by policy inconsistency and high level of macroeconomic uncertainty indicating high level of fiscal instability. It was suggested that government need to reduce the size of its deficits, broaden the revenue base by increasing the contribution from non-oil sources.
CAPITAL FORMATION AND HEALTH OUTCOMES IN MIDDLE-INCOME COUNTRIES Aberu, Felix; Osinusi, Kunle Bankole; Arikewuyo, Kareem Abidemi; Lawal, Nurudeen Abiodun
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I12025.37-48

Abstract

Introduction: Understanding how much a country’s health system spends on infrastructure, machinery, and types of equipment is crucial for policymaking and analysis. Although health systems continue to be labor-intensive, capital has been increasingly important in producing health services in recent decades. Considering the growing importance of diagnostic and therapeutic types of equipment, as well as the recent rise of information, computers, and technology in healthcare services being capital intensive, hence, it is imperative to determine the impacts of capital formation on health outcomes in middle-income countries. Methods: The study used the World Bank rating, from 2000 to 2023. The system generalized method of moments (SGMM) was adopted to account for endogeneity. The World Development Indicators (WDI), and World Governance Indicators (WGI) data were used. The model's validity was assessed using the AR (1) and the AR (2) tests, while the instrumental variables were validated using Sargan and Hansen tests.  Inferences were drawn using a 5% threshold of significance. Results: Results showed that capital formation confirmed a crowd-out relationship between morbidity rates and crude death, while life expectancy has a positive relationship with capital formation in middle-income countries. Life expectancy has a positive relationship and is statistically significant at a 5% level. Conclusion and suggestion: Therefore, the study recommended that middle-income countries must generate savings and investments through individual savings or government policy to improve their healthcare system since countries with a high level of household savings can accumulate funds and produce capital goods faster.