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All Journal Aktual : Jurnal Pengabdian Kepada Masyarakat Indonesian Journal for Islamic Studies
Jamiu Adeniyi Yusuf
Summit University
Religion Computer Science & IT Education Engineering Environmental Science Public Health Other

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Impact of Energy Price Volatility on Financial Stability and Industrial Growth in Nigeria Jamiu Adeniyi Yusuf; Saka Fatai Adio; Babalola Abubakar Akorede
Aktual: Jurnal Pengabdian Kepada Masyarakat Vol. 4 No. 1 (2026): Aktual: Jurnal Pengabdian Kepada Masyarakat January 2026
Publisher : CV Media Inti Teknologi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58723/aktual.v4i1.532

Abstract

Background: Energy price volatility is a critical macroeconomic challenge for resource-dependent economies like Nigeria, with potential implications for financial stability and industrial development. Despite the centrality of energy to production and investment decisions, empirical evidence on how fluctuations in energy prices interact with financial stability and industrial growth in Nigeria remains limited.Objective: This study examines the effects of energy price volatility on financial stability in Nigeria. Also, the role of industrial growth and exchange rate movements in shaping financial stability outcomes in Nigeria.Methods: The study employed annual time-series data for Nigeria, with Autoregressive Distributed Lag (ARDL) to capture both short-run and long-run relationships among the variables. Financial stability was modelled as a function of energy price volatility, industrial growth, and the exchange rate. Bounds testing was conducted to establish long-run relationships, while error correction mechanisms were used to analyse short-run.Results: Findings reveal that energy price volatility exerts a negative effect on financial stability in both short and long run, indicating fluctuations in energy prices undermine Nigeria’s financial system. Contrariwise, industrial growth shows a positive relationship with financial stability, suggesting that increased industrial activity enhances resilience against energy price shocks. The exchange rate also exhibits a negative and significant effect on financial stability, showing Nigeria’s susceptibility to external economic disturbances.Conclusion: The results shows that stabilising energy prices and strengthening industrial capacity are critical for safeguarding financial stability in Nigeria. Recommendation includes, the adoption of energy price stabilisation policies, accelerated industrialization strategies, and a managed exchange rate regime.
slamic Finance and Sustainable Development in Nigeria: Assessing the Role of Non-Interest Banking in Poverty Reduction and SME Growth Jamiu Adeniyi Yusuf
Indonesian Journal for Islamic Studies Vol. 3 No. 3 (2025): Indonesian Journal for Islamic Studies
Publisher : CV Media Inti Teknologi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58723/ijfis.v3i3.536

Abstract

Background of study: This paper examines the intersection of Islamic finance and sustainable development within the Nigerian context. As Nigeria grapples with significant developmental challenges, this study explores how financial models rooted in Islamic principles align with the United Nations' Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure).Aims and scope of paper: The study specifically assesses the role of non-interest banking in fostering poverty reduction and the growth of Small and Medium-sized Enterprises (SMEs). This work investigates the mechanisms through which Islamic financial instruments like Murabaha, Mudarabah, Musharakah, and Sukuk are deployed to support pro-poor initiatives and empower entrepreneurs.Methods: Through a systematic review of existing literature, regulatory frameworks, and operational data from Nigerian non-interest banks such as Jaiz Bank, Taj Bank, and Lotus Bank, this study explores the topic.Result: The analysis reveals a strong theoretical and practical congruence between the objectives of Islamic finance, which emphasize ethical investment, risk-sharing, and asset-backed transactions, and the core tenets of sustainable development. The findings indicate that while non-interest banking holds considerable potential to drive inclusive growth by expanding financial access to underserved populations and providing patient capital for SMEs, its impact is constrained by challenges including low public awareness, regulatory complexities, and human capital deficits.Conclusion: The paper concludes by offering policy recommendations aimed at strengthening the non-interest banking sector to more effectively contribute to Nigeria's sustainable development agenda.
Evaluating the Returns to Education and On-The-Job Training in Informal Sector Employment Jamiu Adeniyi Yusuf; Muinat Abiodun Ibrahim
Aktual: Jurnal Pengabdian Kepada Masyarakat Vol. 3 No. 3 (2025): Aktual: Jurnal Pengabdian Kepada Masyarakat September 2025
Publisher : CV Media Inti Teknologi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58723/aktual.v3i3.471

Abstract

Background of the Study: A significant section of the workforce in many developing nations is employed in the unorganized sector, which is frequently marked by volatility and lax regulation. Developing equitable and sustainable labor and development strategies requires an understanding of how education and vocational training affect job outcomes and wages in this sector.Aims and Scope of Paper: The purpose of this paper is to investigate the financial benefits that informal workers receive from education and on-the-job training. It also examines research trends, significant authors, and thematic areas of interest. Methods: A bibliometric analysis using VOSviewer was conducted to support a qualitative systematic review that was carried out utilizing the PRISMA 2020 methodology. This method made it possible to map academic papers quantitatively and include qualitative insights.Results: Although the effects of formal education and job-specific training vary by location, gender, and educational quality, they generally increase the salaries, employability, and job stability of informal workers. Bibliometric analysis shows uneven regional presence and growing research clusters.Conclusion: Programs for education and training that are targeted, equity-driven, and adapted for the informal sector are essential. Particularly in low- and middle-income nations, such programs can close the gap in human capital, raise individual incomes, strengthen labor resilience, and advance social justice and overall economic stability.
Co-Authors Babalola Abubakar Akorede Muinat Abiodun Ibrahim Saka Fatai Adio