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All Journal Journal of Entrepreneurial and Business Diversity Mustard Journal De Ecobusin
AYODELE, Oluwafemi
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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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.
Co-Authors ABANG, Samuel Oweh ABANG-SAMUEL, Loveth Ifeoma ABUH-AMASI, Scholastica Ashibebonye Arasomwan, Kenneth Onaiwu ARASOMWAN, Kenneth Оnaiwu Omang, Nkechi Stella