ABUAD Journal of Social and Management Sciences

External Financing and Financial Development in Developing Countries: Aggregate and Disaggregate Empirical Evidence from West Africa

Afees Oluwashina Noah — 2023-12-19

External financing as one of the drivers of financial development remains a subject of ongoing debate. While some studies assert a positive influence, others dispute this claim. This study contributes to the existing studies on the subject matter, with the primary objective of examining the overall or aggregate effects of external financing on financial development. Specifically, the study examines the individual effects of external financing factors (FDI, ODA, and remittances) on financial development, both in the short and long run, by employing annual panel data spanning from 1980 to 2021 for the selected West African countries. To achieve this, the study employs the panel autoregressive distributed lag (PARDL) variants (mean group - MG, dynamic fixed effect - DFE, and pooled mean group - PMG) techniques. The results from the PMG and DFE estimations reveal that external financing as a whole has an impact on financial development in West African countries both in the long and short run. Remittance, economic growth, and inflation rate also have a significant influence on financial development both in the long and short run. While ODA is detrimental to financial development in the long run, FDI does not influence financial development. It is therefore imperative for stakeholders within the sub-region to encourage and facilitate the use of remittances, economic growth, and inflation rate as means of promoting financial development in West Africa, while simultaneously ensuring that FDI and ODA are used to promote self-sufficiency and financial stability and align with the region’s developmental goals.

Agricultural Productivity and Poverty Alleviation in Nigeria

Aishat Princess Umar — 2023-12-19

The study is designed to examine the relationship between agricultural productivity and poverty alleviation in Nigeria from 1981 to 2020. To achieve this objective, secondary data were collected on the relevant variables namely per capita income, which was used as a proxy for poverty, agricultural output, agricultural loans to individuals, and the real gross domestic product. The data used were sourced from the Central Bank of Nigeria (CBN) statistical bulletin and the World Bank database. The study adopted the Philips Perron test in testing for stationarity and the variables had a mixed order of integration. Auto Regressive Distributed Lag Model (ARDL) was adopted in carrying out the analyses after cointegration was established using the ARDL bounds test. The result of the study showed that an increase in agricultural output improved per capita income, which reduced the level of poverty. The model was also found to have no autocorrelation implying that the findings of the study are suitable for predictions and forecast. The study concluded that poverty can be alleviated through the improvement of the agricultural sector. The study also recommended among other things that the government should embark on policies that can strengthen the agricultural sector in Nigeria.

Sustainability Disclosure and Market Value of Quoted Oil and Gas Companies in Nigeria

Felix Osayabor Emovon — 2023-12-19

This study has been carried out to examine disclosure and market value of quoted oil and gas companies in Nigeria. The Nigerian oil and gas industry plays a crucial role in fostering economic growth and development. This research employed an ex-post facto research design, with the study population comprising eight (8) publicly listed oil and gas companies on the Nigerian Exchange Group (NEG) as of December 31, 2022. A purposive sampling technique was utilized to select a sample size of seven (7) companies based on data availability. The study spanned from 2012 to 2021, and data were extracted from the annual reports and accounts of the sampled companies on the NEG. Descriptive and inferential statistics were applied to analyze the data, with the testing of hypotheses conducted through panel data regression analysis employing robust cluster standard error. The findings revealed that environmental cost disclosure had a negative and significant impact on market value, while community development cost disclosure had a negative and insignificant effect on the market value of the oil and gas companies. The study concluded that caution should be exercised in disclosures to prevent adverse effects on the firm's market value. Additionally, it recommended that disclosures be closely monitored to avoid negative impacts on the company's market value.

Land Boundary Disputes Resolution: A Qualitative Study of Peace and Conflict Resolution between Erinle-Offa Communities in Kwara State, Nigeria

Seun Bamidele — 2023-12-19

The study focused on land boundary disputes and the resolution challenges in the Erinle-Offa communities of Kwara State, Nigeria. The history of the two communities is laced with hostility and aggression, which has resulted in violent disputes at various times. Quite a number of works have emerged on the causes and consequences of the violent clash. However, the aftermaths of the dispute, especially the tense relationship and peacebuilding process in the area, are yet to be sufficiently interrogated. This study investigated the state of relations between Erinle and Offa as well as land dispute resolution processes in the locality involving complex actors after the last violent clash. It also examined the factors responsible for land boundary disputes between the two communities. The findings showed that negative peace currently exists in the two communities and the land conflict is a perennial one that could arise at any time. The study used both primary and secondary data. The main method of data collection was the unstructured interview, which was conducted with 120 people, made up of traditional rulers, and local, political, religious and youth leaders. Secondary data was sourced from texts, newspapers, magazines, official gazettes, archival materials and the Internet.

Safeguarding and Preserving Africa’s Ritual Objects in the Face of Modernity: The Mwaghavul Case

Dimas Solomon Gubam — 2023-12-19

The focus of this paper is to study ritual objects among the Mwaghavul people and their preservation as heritage materials for posterity. The paper looks into the ritual objects of the Mwaghavul and the challenges facing their preservation. In doing this study, primary and secondary sources of data were used. While rituals and ritual objects represent a major defining attribute of the Mwaghavul people, most of these objects are now abandoned on hilltops or caves, forest and rock shelters, and at the mercy of bad weather conditions and agents of destruction like termite, fire, and other things that can destroy them naturally. The paper admonishes that these materials are the people's heritage that deserve preservation. The paper identifies globalization, stereotype, migration of young people into the cities, human and natural factors, and activities of heritage looters as some of the contributory factors. The paper however argues that the challenges can be addressed through public enlightenment, provision of conducive worship environments for adherents of traditional Mwaghavul religion, introduction of traditional religion into our school curriculum and provision of good places for the preservation of ritual objects. The paper concludes that as an important aspect of their culture, the Mwaghavul people should ensure that their ritual objects are safeguarded and preserved for posterity.

Reviving Public Service Delivery at the Grassroots through Public-Private Partnership in Nigeria’s Fourth Republic

Oyekunle Oluseye Oyewo — 2023-12-19

The paper examines the performance of local governments in Nigeria with special reference to their service delivery responsibilities. Local government is described as a veritable instrument of socio-economic development at the grassroots and it was for this purpose that it became constitutionally recognised as a level of government through the 1976 Local Government Reform. However, the capacity of the Nigerian local governments to carry out responsibilities assigned to them has been jaundiced by the unbridled attack on their finances by higher public authorities, particularly state governments. Specifically, local governments’ share of revenue from the federation account and other sources of revenue have regrettably been annexed by the state governments, thereby reducing local authorities to governments on papers only. Using the secondary sources of data, the article examines how local government service delivery responsibilities can be resuscitated through the Public-Private Partnership (PPP) arrangement. The paper revealed general absence of standard framework for the adoption of PPP to tap into the available huge private investment for public service delivery at the grassroots. The paper recommends active collaboration of the stakeholders in grassroots development toward developing a standard framework for PPP to restore the status of Nigerian local governments as primary providers of public services.

A Review of Social Capital as a Concept

Temidayo David Oladipo — 2023-12-19

There is a debate about what social ‘capital’ as a concept entails. This review article is a contribution to that debate. The article explores the various ways the concept of social capital has been used in the literature. The first is that users of the concept employ it to refer to social norms and moral values and the roles they play in society. This first conceptualisation of social capital emphasises the importance that values and norms have for the effectiveness of the various forms of capital. The thinking is that if moral values and social norms are lacking in guiding the operation of the other forms of capital, little or no progress will be made in society. The next perspective is that social capital is generated in people’s daily interaction in the community. This view attaches importance to associational life in society. Finally, the paper evaluates the debate about whether social capital can be regarded as a ‘capital’, given the fact that other forms of capital are tangible while social capital is intangible. It is demonstrated in this paper that inasmuch as other types of capital are valuable because they are able to generate expected outcomes, so is social capital a ‘capital’ because it enables the achievement of certain goals in society.

From Peaceful Protest to Bloodbath: An Interrogation of the Link between the #EndSARS Protest and Policing Strategies in Nigeria

Oseremen Felix Irene — 2023-12-19

The #EndSARS protest by the Nigerian youths was against police brutality. It started peacefully but ended in violence and bloodbath. This study investigates the link between the #EndSARS protest and policing strategies in Nigeria. Structured questionnaires were used to collect primary data from 194 randomly selected respondents from a population of Police officers. Secondary data was sourced from library materials such as textbooks, journals, newspapers and websites. SPSS was used to analyse the primary data collected for the study. Findings from the study revealed that there is a significant relationship between the #EndSARS protest and policing strategies in Nigeria. The study therefore suggests people friendly policing strategies that would promote effective civil-police relationship and collaboration in the country.

Flood and Food Security in the Benue Valley: Stylized Facts

Dominic Iortyer — 2023-12-19

The scientific consensus is that global climatic change is caused by human activities. Global climate variation has altered the pattern of annual rainfall in most parts of the world, resulting in annual flooding with devastating effects on humanity. With many rivers that crisscross the Nigerian landscape, the country has experienced a number of flood incidents along the river basins (valleys) with varying degrees of devastation. This paper, thus, focuses on the effects of flood on food security in the Benue Valley. The specific objectives of the study include: to examine the effects of flood on food supply; prices of agricultural output; and the level of public and private aids to flood victims within the study area. A sample of households and market leaders were interviewed for the purpose of data collection. Data was equally sourced from Non-governmental Organizations, State Emergency Management Agencies, and other written sources. The data was analyzed and presented using simple bar charts. Findings revealed that there is always a gross inadequacy of food supply during the years of devastating floods compared to years of normal annual rainfall. Prices of agricultural products increased by almost 200% and household income declined significantly during the flood disaster years. Findings also revealed that private organizations sometimes render more aids to flood victims than the public sector. To arrest the danger of annual devastating floods in the Benue Valley, the paper recommends better water infrastructure management strategies like the construction of more dams and dredging of River Benue.

Herders-Farmers Conflicts over Farmlands

Chibuike Victor Obikaeze — 2023-12-19

Farmers and herders conflicts have remained an issue of public discourse in recent years, due to the violent dimensions the confrontations have taken. There are cases of human killings, destruction of farms and violent retaliations between herders and farmers in various parts of Nigeria. These have often contributed to human and food security challenges. While the native farmers accuse the nomadic herders of allowing their cows to destroy cultivated crops, the herders point accusing fingers at the farmers for blocking grazing routes. As a result, the groups are found in perpetual violent conflicts, leading to destruction of lives and properties. The attendant implication of this development has always been shortage of farm produce, leading to food insecurity. The study examined how struggles between nomadic herders and crop farmers have threatened human and food security in Nigeria. The study relied on secondary data and employed environmental/resources scarcity theory as a framework of analysis. The study concluded that there is need for the Nigerian government to review the existing laws as they relate to accessibility to land by members of community and strangers.

SDG 2030, Agenda 2063, Russia-Ukraine War and Africa’s Development Possibilities

N. Oluwafemi ‘Femi’ Mimiko — 2023-12-19

Sustainable Development Goals (SDG 2030) and Africa’s Agenda 2063 address clearly defined collective development agendas, while the war in Ukraine relates to strategic management. This paper takes a look at these seemingly differing, yet related subjects in the overall context of the development aspirations of Africa. It argues that SDG 2030 and Agenda 2063, like the Millennium Development Goals (MDGs) before them, are basically efforts at strategic planning, and underscore the integrated nature of the global political economy. As well, the war in Ukraine, and its globally ramifying nature, demonstrate the logic of globalisation, which makes collective approach to the agenda of development imperative. While the highly disruptive orientation of the war is evident, the possibility of African countries taking advantage of some of its dimensions to deepen their location in the global supply chain exists. Such may, however, not be realisable outside of a nimble state system that Africa does not as yet present; a fact which also accounts for the very modest performance of the continent on the MDGs, SDG 2030, and Agenda 2063 initiatives. The expanding poverty net on the African continent is the most profound testimonial that Africa is still not acquitting itself creditably vis-à-vis these initiatives. The emergence and sustenance of an appropriately positioned developmental state is, therefore, a critical desideratum if the continent must moderate the massive disruptive impacts of the war in Ukraine, benefit from it where it can, and drive more determinedly towards the objectives of SDG 2030 and Agenda 2063.