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Assessing Naira Devaluation and Tight Monetary Policy Impact on Small Medium Enterprises in Nigeria ABANG, Samuel Oweh; NWANNE, Daniella Chinyere; AMAONYE, Chinenye Blessing; SAMUEL, Loveth Ifeoma Abang
Journal of Entrepreneurial and Business Diversity Vol. 2 No. 4 (2024): Journal of Entrepreneurial and Business Diversity. (October – December)
Publisher : PT. Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/jebd.v2i4.254

Abstract

Purpose:This study aims to optimize the management of Munggu Tourist Village through the application of the Business Model Canvas (BMC). By utilizing the BMC framework, tourist village development can become more focused, professional, and sustainable, thereby delivering positive impacts for both tourists and local communities.Methodology:This research employs a qualitative approach. Data collection is conducted through observation, in-depth interviews, and Focus Group Discussions (FGD). In-depth interviews are conducted with business managers in Desa Munggu. The FGD involves inviting the Village Head (Perbekel), the Traditional Village Head (Bendesa Adat Munggu), the Village Supervisory Board, the Chairperson of the Desa Munggu Tourism Awareness Group (Kelompok Sadar Wisata), the Chairperson of the Desa Munggu Tourism Business Management, and the Village Environmental Chairperson.Findings:This finding confirms that the Business Model Canvas (BMC) can serve as a flexible and relevant strategic tool to support the sustainable development of tourism villages based on local wisdom.Implication:This study confirms that the Business Model Canvas (BMC) is a strategic tool that effectively supports the sustainable development of tourism villages based on local wisdom. The findings provide practical guidance for tourism village managers and government authorities in designing effective business strategies, empowering local communities, and maintaining the attractions of the destination. Furthermore, this research encourages responsible tourism management to preserve culture and the environment while opening opportunities for further studies in other tourism destinations.
Exploring Fiscal Policy and Diversification Effects on Nigeria's Long-Term Economic Growth ABANG, Samuel Oweh; ABUH-AMASI, Scholastica Ashibebonye; ARASOMWAN, Kenneth Оnaiwu; AYODELE, Oluwafemi; ABANG-SAMUEL, Loveth Ifeoma
Journal of Entrepreneurial and Business Diversity Vol. 2 No. 4 (2024): Journal of Entrepreneurial and Business Diversity. (October – December)
Publisher : PT. Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/jebd.v2i4.271

Abstract

Purpose:This study investigates the long-term impact of fiscal policy and economic diversification on Nigeria’s economic growth, with a focus on understanding their interrelationships and effectiveness in driving sustainable development.Methodology:Using time-series data from 1983 to 2024, the study employs the Autoregressive Distributed Lag (ARDL) bounds testing approach to examine both the short- and long-run dynamics among key fiscal variables, diversification indicators, and real GDP growth.Findings:Empirical findings reveal a significant long-run relationship between fiscal policy instruments, particularly government expenditure and tax revenue—and economic growth. The results highlight the importance of strategic fiscal management and the need to accelerate diversification policies to reduce reliance on oil revenues and promote inclusive development.Implication:The study recommends that fiscal authorities adopt more growth-oriented expenditure frameworks and broaden the revenue base by enhancing non-oil sectors such as agriculture, manufacturing, and services. This research contributes to the policy discourse on fiscal sustainability and structural economic reform in Nigeria.
Price stickiness-income inequality nexus, impact on monetary policy in Nigeria Abang, Samuel Oweh; Arasomwan, Kenneth Onaiwu; Ayodele, Oluwafemi; Omang, Nkechi Stella
Mustard Journal De Ecobusin Vol. 1 No. 3 (2024): Mustard Journal De Ecobusin
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v1i3.86

Abstract

This study examines the impact of price stickiness-income inequality nexus, om monetary policy in Nigeria from 1984 to 2023. The model formulated depicts monetary policy rate (MPR) as the dependent variable while gross domestic product (GDP), nominal exchange rate (NER), inflation (INF), interest rate (INT), consumer price index (CPI) as a measure of price stickiness and income inequality (IND) are independent variables. These data were sourced and extracted from CBN Statistical Bulletin. The study employed the OLS, Cochrane Orcutt and the chain rule to find the transmission mechanism. The ADF test reveals that the variables were all stationary at level. The study recommends that Monetary authorities are also encouraged to decrease the MPR. This will allow the banks to have enough cash to give to industries, the manufacturing sector and especially the small and medium enterprise. This will thus lead to creating of jobs to will lead to a balance or reduction in the income inequality It decreases interest rate and therefore encourages lending and investment and by extension, increase in output. Monetary authorities must however be wary of the tendency of an increase in money supply to lead primarily to inflation. Monetary authorities must ensure viable productive potentials in the economy respond positively to the rise in money supply.
Fiscal Policy, Economic Diversification and Economic Growth in Nigeria an Analysis on The Long Run Relationship Onaiwu, Arasomwan Kenneth; Abang, Samuel Oweh; Stella, Omang Nkechi; Oluwafemi, Ayodele
Mustard Journal De Ecobusin Vol. 1 No. 4 (2024): Mustard Journal De Ecobusin
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v1i4.87

Abstract

Nigeria’s fiscal policy has largely centered on short-term objectives such as revenue generation, with inadequate focus on long-term structural reforms. The economy remains characterized by an inefficient tax system and a persistent dependence on oil revenue despite efforts toward diversification. This study investigates the impact of fiscal policy, economic diversification, and economic growth in Nigeria using annual time-series data from the Central Bank of Nigeria, National Bureau of Statistics, and World Bank covering 1984–2023. Employing descriptive statistics, the Augmented Dickey-Fuller and Phillips-Perron unit root tests, and the ARDL model, the study uses real GDP as the dependent variable and tax, government expenditure, domestic debt, gross fixed capital formation, and diversification index as independent variables. The results indicate that a 10% increase in tax, government expenditure, and diversification index leads to a 0.76%, 1.31%, and 0.84% rise in economic growth, respectively, while a 10% rise in domestic debt reduces growth by 2.69%. The findings show that tax, domestic debt, and diversification index significantly influence growth. Hence, the study recommends strengthening tax mobilization to reduce dependence on oil revenues and enhance macroeconomic stability.