Faculty of Management Sciences

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Open Access
Capital Flight and Economic Growth in Nigeria (1970 -2011)
(2014) Oke, M.O
This study examines the determinants of capital flight in Nigeria and their effects on economic growth between 1970 and 2011. In analyzing the determinants of capital flight, eight (8) variables classified as political, economic and institutional were employed. These include: Degree of Openness, Inflation rate, Gross capital formation, Change in External debt, Deposit rate, Credit to Private sector, Interest rate differentials and Government consumption expenditure (GOCE). Six models were formulated models; model 1, 3, and 4 examined the determinants of capital flight in the Pre and Post-SAP era while model 2, 5 and 6 examined the effect of capital flight on the economy in the Pre and Post-SAP era with Gross Domestic Product as the dependent variable and Change in External debt, Direct Foreign Investment, Current Account Balance, Change in External Reserve and Change in Net Foreign asset of Domestic Financial Institutions as explanatory variables. The study employs the residual method of capital flight estimates while data were sourced from the Central Bank of Nigeria’s Statistical Bulletin, the Nigeria Stock Exchange Fact Books and IMF’s Financial Reports. The Ordinary Least Square Method of Regression analysis and Co-integration Technique were employed to estimate and test the formulated models and hypotheses. Findings from the analyses reveal that both short and long run relationships between the dependent and independent variables. Specifically, the results reveal that Change in External Debt, Inflation rate, Political and Institutional risks constitute the major determinants of capital flight in Nigeria over the period of study. The post-SAP analysis shows that Change in External Debt and Inflation rate greatly induced capital flight which adversely affected the economy. Statistically, the test of hypotheses conducted at 95% level of confidence shows the significance of the variables. The results also show that Change in external debt negatively impact economic growth, while Direct Foreign Investment, Change in Foreign Asset of Domestic Banking System and Change in External Reserve positively impact the economic growth. The study established a link between External debt, poverty and economic growth. It was also revealed that capital flight was more prevalent in Nigeria during the period of transition from one regime of government to another due to political crises and uncertainty. The study recommends among others that Government should provide economically viable environment that will encourage investment while statutory agencies like the Economic and Financial Crime Commission and the Independent Corrupt Practices and Other Related Offences Commission should be adequately funded and empowered to handle financial crimes. Finally, it was recommend that serious and sincere effort should be made by the government to recover stolen and ill-gotten wealth by public officers and the proceeds recover from corrupt officials should be ploughed back into the economy while the government should implement policies that are suitable for the Nigerian environment. One of the major contributions of the study to knowledge is that it confirmed that economic, political and institutional factors are the main determinants of Capital Flight in Nigeria.
Open Access
Change Management and Organisational Performance in Nigerian Organisations: A Study of Selected Firms in Lagos State, Nigeria.
(2014) Okonji, P.S
This study was carried out to empirically test the relationship between organizational change and performance and proffer better strategies for managing change to enhance organizational performance and improve success rate. The casual and descriptive survey research methods were adopted for the study. A four and five- year pre- and post- financial statements of five organizations, that have implemented various change programmes in the last eight years, were used for the casual study. While a structured questionnaire was used to elicit responses from three hundred (300) employees of the focal organizations. They were selected on the basis of their managerial levels, using stratified random sampling. Regression analysis (multiple and simple), and T-test statistical methods were used to test the hypotheses at 0.05 level of significance. The results of the data analyses revealed that organizational change does not result in significant increase in sales in all the firms studied (Firm A:t-statistics = -0.5821, P-Value= 0.6014; Firm B:t-statistics=1.0694, P-Vale= 0.3633, Firm C:t-statistics=0.9155, P-Value 0.4276, Firm D: t-statistics=0.899.P Value=0.4349, and Firm E: t-statistics=0.899, P-Value=0.4349). The impacts of change on firms’ profitability were mixed. For firms A, C and E, the results were not statistically significant were no significant While for firms B and D, the results were statistically significant at 0.05significance level. The findings further showed that the impact of change on shareholders’ wealth for firm C, significant. While for firms A and E, the impact on were not statistically significant. However, change enhanced organizational flexibility and collaboration with R=0.445 and 0.456 respectively. The study concluded by developing an integrated model for implementing organizational change which will enable managers and change agents to take advantage of the synergies from the systematic management of the leadership, communication and the participation variables in managing the change process. The study then recommended that a mental revolution on the part of top managers to enable them to create a conducive atmosphere where employees will individually and severally become advocates and agents of change.
Open Access
Corporate Social Responsibility and The Performance of Small and Medium Scale Enterprises[SMEs] in Lagos State, Nigeria.
(School of Postgraduate Studies University of Lagos., 2008) Sulaimon, A.A
Open Access
Determinants of Tertiary Students' Eshopping Acceptance in Lagos State, Nigeria
(2016-10) Nwagwu, K.O
The global resurgence of online shopping and availability of information and communication technology infrastructure are attracting online retail businesses to Nigeria. E-shopping is novel in this clime hence, the necessity for operators to understand the precursors to its acceptance given the cultural differences among global consumers.As part of understanding the Nigerian online shopper, this study investigates tertiary students’ acceptance of eshopping using a modified technology acceptance model. To achieve the objectives of this study, a descriptive research design based on cross-sectional survey was employed while a structured questionnaire served as instrument for data collection. Multi-stage sampling technique was used to select one thousand one hundred students of three tertiary institutions in Lagos State. These students whose responses yielded data for analyses were drawn from both full-time and part-time programmes of these institutions. While percentages and frequency tables were used to analyze and present the study’s descriptive statistics, parametric statistical tests such as t-tests, analysis of variance (ANOVA), multiple and logistic regression analyses were used as inferential statistics in testing the study’s hypotheses through the instrumentality of Hayes process tool and SPSS version 19. Key findings of this study show that: perceived usefulness, perceived ease-of-use, innovativeness, and perceived risk have a significant combined effect on e-shopping acceptance (R2=19.21%, F=65.09); among Socio-demographic variables only age has significant effect on e-shopping (Welch F= 2.577, p< 0.05); also, the mediatory roles of perceived risk in technology acceptance model (TAM) were detected. Deployment of encryption technology to mitigate risk concerns and recognition of local consumer information in formulation of marketing programmes among others, are recommended.
Open Access
E-Banking Service Delivery and Customer Satisfaction in Selected Commercial Banks in Lagos State, Nigeria
(University of Lagos Postgraduate School, 2017) Bakare, R.D
The increasing availability of electronically mediated self-service technologies in the banking industry across the world and Nigeria in particular, has changed the way banks ensure satisfaction of their customers. This trend became inevitable as global financial practises revolve around online banking, hence its adoption in Nigeria thereby signalling a step in the right direction. This paradigm shift has not only provided complete functions of operations but also advanced their electronic service quality. The broad aim of this study was to investigate the effect of electronic banking service delivery on customer satisfaction in commercial banks in Lagos state, Nigeria. This study adopted cross- sectional research design using survey method as research strategy. A web- based survey instrument was used to elicit information from 217 respondents from a hidden population of bank customers using non probabilistic sampling technique. Purposive sampling was used to draw initial sample and these initial samples were used to generate other members of the final sample using chain- referral and respondent - driven mechanism concurrently to bring about validly representative findings. Pilot test was conducted to determine the reliability of the research instrument and the result showed Cronbach alpha of 0.753 while the validity of the instrument was tested through internal and external validity test by experts in the field of marketing. Eight hypotheses were tested at 5% level of significance using linear and multiple regression analysis and the results obtained showed that bank customers were satisfied with the service delivery of their banks in the conduct of banking transactions. Conclusion which arose from the findings was that banks must ensure that consistency in the effective delivery of electronic banking services is achieved. It is thus recommended that policy makers in the sector should ensure that all the dimensions in a service quality program be strictly followed and implemented effectively so that they will not be seen as only focussing on the bank’s objective of profits and gains, but must also look into satisfying the needs of the customers as well.
Open Access
The Effectiveness of Pricing as a Marketing Tool in Banks- Customers Perception Approach in Nigeria
(2012-07) Mbah, C.C
This work investigated the effectiveness of pricing as a tool for marketing banking services in Nigeria. This has become necessary in view of the persistent altering of Nigerian banking landscape since the advent of Federal Government Structural Adjustment Programme (SAP) in 1986. Structural Adjustment programme ushered in a period of bank market liberalization that lowered the industrial entering and exit requirements, introduced deregulation in the industry and offered banking model tending towards universal banking. Consequently, the number of banks in the economy rose from 41 to 118. Eighteen years after, (in 2004), the number of banks had shrunk to 89. That was followed by another period of consolidation that saw the emergence of 25 much bigger banks from the 89 in 2005. The Banks had large capital base, this enabled successful ones among them to pick bigger tickets while offering facilities to multinationals and other high net-worth firms in Nigeria. In less than five years, that is in 2009, over a third of these banks were declared seriously sick by the industrial regulator-Central Bank of Nigeria. The subsequent Audit of all the banks highlighted some of the abuse prevalent in the old system. One of the main abuses is the waste of fund by banks in an ineffective and efficient manner towards achieving corporate goals. A good example is the excessive promotion of banks pricing regimes. This research aims at determining the usefulness or otherwise of promoting banks pricing regimes. Survey method was used and data were sourced from primary (questionnaires) and secondary sources. In answering the research questions and testing the relevant hypotheses some statistical tools such as Simple and Multiple Regressions (processed with SPSS and Startgraphic softwares) were used. The findings of this work show that there are little or no relationship between some important variables – such as bank charges variations and demand for banks products, bank charges variation and profitability etcetera. Secondly, Customers hardly appreciate the disparity induced by most price variations and financial rewards (or bets) offered during promotions because the differences do not attain the mandatory just noticeable difference (JND) level as par Weber’s law. The application of Weber’s law in a search for solution to marketing problems is regarded as a contribution to knowledge. Cogent and germane conclusions together with recommendations were made to key stakeholders- Banks and Marketers are advised not to promote stimulus with benefits less than the appropriate JND.
Open Access
The effects of organizational commitment and communication on organizational effectiveness in the Nigerian Banking Industry
(School of Postgraduate Studies, University of Lagos, Akoka, 1994) Gbadamosi, G.
This research seeks empirically assess the relationship between organizational commitment and organizational communication on the one hand and organizational effectiveness on the other in the Nigerian banking industry. The theory states that each of organizational commitment and organizational communication influence the effectiveness of the organization.
Open Access
Effects of Perceved Market Risks and Socioeconomic Variables on Customer Loyality in the Global Systems of Mobile-Telecommunication in Lagos State
(2017-08) Olufayo, T.O
Customer loyalty has been a major issue in marketing. This concept is of great importance in the Global Systems of Mobile (GSM) telecommunication market. The rate of customer defection is very high in the GSM market, and this has necessitated the need to examine the factors that are likely to affect customer’s loyalty in the GSM market. This study examined the effect of perceived market risk and socio-economic variables on customer loyalty in the GSM telecommunication industry in Lagos state. The descriptive research design was adopted using cross-sectional survey method. The estimated population of Lagos state, which formed the population of this study, according to the National Population Commission in 2016 is 21 million. A sample size of 1600 subscribers of GSM services in Lagos state was selected, using multi-stage sampling techniques. Questionnaire was used to collect data, using previously validated scales to measure income, reference group, social class, family influence, perceived market risk and customer loyalty. A total of 861 copies of questionnaire were returned and used for data analysis. The data collected from the subscribers to GSM services in Lagos metropolis were analysed using the descriptive statistical tool. The hypotheses of the study were tested using Pearson correlation, one-sample t test and regression analysis. The study revealed that there was a statistically significant relationship between socio-economic factors, family influence, reference group, social status/class, income and customer loyalty. However, perceived market risk has no statistically significant relationship with customer loyalty. Despite the statistically significant relationships that reference group, social class, income and family influence had with customer loyalty, the extent of the relationships were very low, indicating that there were other variables that can affect customer loyalty in the GSM market, apart from socio-economic variables and this can make for future research. It was suggested that there is need for marketers of GSM services to look beyond repeat purchase. They should also see loyalty as customer being an advocate of their brand, because customers will believe the testimonies of others, than those of the marketers of a brand. Perceived market risk is a variable that affects customer loyalty, when some products are involved. However, this variable does not affect customer loyalty in the GSM market, because the GSM market is considered as low risk in this study.
Open Access
Employment Practices and Working conditions among Contract Employees in the American Oil Companies in Nigeria and the United States of America
(2017-06) Shonuga, O.A
Employees in the American oil companies in Nigeria and the United States of America (USA) with a focus on comparative analysis of their working hours, remuneration, occupational health and safety, and degree of access to social protection. From a list of 12,736 contract employees in the American oil companies in Nigeria and the USA, a total of 600 respondents were randomly selected from Chevron and ExxonMobil through the simple and stratified techniques. Based on a cross-sectional survey research design, a structured questionnaire and in-depth interviews were used for data collection. The questionnaire was validated and a Cronbach’s alpha reliability coefficient (0.86) was established. The data from the structured questionnaire were subjected to descriptive and inferential statistics. The data from in-depth interviews were analysed through content and narrative analysis. The main finding revealed a significant difference in some aspects of the working conditions among contract employees in the American oil companies in Nigeria and the USA in terms of remuneration, occupational health and safety, and working hours in Chevron. The level of remuneration among contract employees in the American oil companies in Nigeria was significantly different from that of the USA (t = -10.944; mean difference = -.52383; p = 0.000). There was a significant difference in the working hours among contract employees in Chevron Nigeria compared to their counterparts in the USA (t = - 3.984; mean difference = - 0.175; p = 0.000). In contrast, the findings showed that there was no significant difference in some aspects of the working conditions among contract employees in the American oil companies in Nigeria and the USA in terms of managerial control, the degree of access to social protection, and working hours in ExxonMobil. The degree of managerial control of contract employees in the American oil companies in Nigeria was not significantly different from that of the USA (t = -0.722; mean difference = -0.037; p = 0.471). Also, there was no significant difference in the working hours among contract employees in ExxonMobil Nigeria and their counterparts in the USA (t = -1.199; mean difference = -.06269; p = 0.232). The study concluded that the contract employees in the American oil companies in the USA enjoyed better working conditions compared to their counterparts in Nigeria. Therefore, there is need for improvement in the working conditions among contract employees in Nigeria, through public policy and advocacy.
Open Access
Energy Consumption and Residential Building Design in Lagos Metropolis
(2017-04) Kusimo, M.A
The use of energy has raised concerns over the problem of supply and exhaustion of the resources. In developing countries, particularly in Nigeria, the rate of energy consumption has been increasing rapidly due mainly to population growth, urbanization and development of infrastructures in recent time. The International Energy Agency (IEA) frightening annual energy use growth projection of 3.2% by emerging economies, with the expectation to exceed developed countries consumption, makes it inevitable, the future use of sustainable energy consumption in residential buildings. This research therefore aims at investigating energy consumption in Residential buildings in order to develop a viable model for projecting the energy consumption with different design parameters in Lagos metropolis. To this extent, extensive reviews on various building elements characteristics, identification of energy use indicators, environmental factors and occupant behavioural actions on household’s energy consumption were examined. Field survey was also carried out in order to identify, investigate, and determine variables effects such as design building characteristics, environmental thermal factor, human comfort requirements, access and use of building control mechanism among others. The research covered the Sixteen Local Government Areas found in the Metropolis of Lagos. The population considered in this study was derived from two main groups which comprise Public and Private Housing units. On this score, a random sampling technique was employed in selecting the sample required in this study. It is as a consequence of this that questionnaires, personal interviews and secondary data were utilized in collecting relevant data. The data were subjected to careful analysis using Chi-Square test, Spearman Correlation (rho), Pearson product moment correlation (r) and forward stepwise regression analysis. The data analysed revealed that what primarily determines energy consumption in the residential buildings considered can be traceable to seven significant variables which includes Environmental Outdoor Relative Humidity, Total Glazed External Area, Environmental Indoor Temperature, Building Envelope Area, General Glazing sizes, Building Cooled Floor Area and Environmental Indoor Relative Humidity. This prompts a major conclusion in this research that what is responsible for energy consumption in Lagos Metropolis is the relationship between Planning layouts and Building Characteristics in the control of both internal and external environmental conditions. Therefore, the research recommends that the knowledge of Architectural sustainability be encouraged in training Architects and Planners on energy use and management of energy resources in different climatic zones in Nigeria.
Open Access
Entrepreneurship,Strategic Management Practices and Firms Performance in Manufacturing Firms in Nigeria
(School of Postgraduate Studies University of Lagos., 2008) Kuye, O.L.
Open Access
Environmental Dynamism, Competitive Strategy and Non-Financial Performance of Manufacturing Firms in Nigeria
(2017-06) Idowu, A
Over the last two decades or so, the Nigerian business environment, particularly the manufacturing industry, has remained dynamic and turbulent with attendant consequences for firm’s performance. Extant studies have focused attention on the relationships between environmental dynamism, firms’ strategy and financial performance. However, studies investigating the relationship between environmental dynamism, firms’ strategy and nonfinancial performance in a developing economy are scanty and inconclusive. This study investigated the relationship between environmental dynamism, competitive strategy and nonfinancial performance of manufacturing firms in Nigeria. It adopted cross-sectional survey research design. Survey questionnaire was used to obtain primary data from strategic managers in the selected seventy manufacturing firms in Lagos State, Nigeria. The choice of seventy manufacturing firms was arrived at through multistage sampling techniques, while the administration of questionnaire was through random sampling method. Out of the 420 copies of the questionnaire administered through the Manufacturers Association of Nigeria, 351 were completed and returned representing 83.4% response rate. Data generated were analysed systematically by adopting descriptive statistics (frequency, mean, standard deviation, correlation and one-sample t-test) and inferential statistics (regression). The results revealed that there was a positive and significant relationship between environmental dynamism, competitive strategy and non-financial performance. It also shows a justified coefficient of determination R2 = 0.208, meaning that the fitted regression model explained a justified 20.8% of the variability in nonfinancial performance. Hypotheses tested indicated that there was sufficient evidence to support the rejection of the six of them. The findings of the study show that industry forces and generic strategy contributed positively and significantly to the success of the manufacturing firms in Nigeria. The study then recommended that the Nigerian government needs to provide the enabling environment that promotes enabling strategic actions in order to contribute meaningfully to the Gross Domestic Product, and that managers should recognise that the fast pace of change in the Nigerian business environment requires innovative strategies that will deliver optimum and sustainable competitive advantage.
Open Access
Examing the role of budgeting and institutional factors on funding of public medical education in Nigeria
(Leeds Beckett University, 2020-12) Lawal, O.N.
There is a dearth of literature on the role that funding plays on public medical education in Nigeria, whereas this area of study occupies a pre-eminence in the social and economic lives of the populace. This thesis examines to what extent budgeting and institutional factors affect funding of public medical education in Nigeria, using College of Medicine of the University of Lagos (CMUL) as a case study. This impact was investigated through the use of an Autoregressive Distributed Lag (ARDL) model upon which-run and long-run dynamics were analysed. As a precursor to ascertaining the current practices and to also identify important variables, the output-oriented Data Envelopment Analysis (DEA) was employed to examine the current level of efficiency in the teaching and learning of medical education at the CMUL.
Open Access
External Finance and the Growth of Firms in Nigeria (2007 – 2011)
(2014) Oke, B.O
This study examines the impact of external finance on the growth of firms in Nigeria for the period 2007 - 2011. A growing literature has used micro-data to show that external finance has a strong positive effect on firm’s growth and that this relationship provides the mechanism through which finance promotes economic growth. This study investigates these claims with respect to Nigerian firms. Focusing on non-financial firms listed on the Nigerian Stock Exchange (NSE), this study employs a sample of 105 non-financial firms, representing about 88 percent of the sample frame. With secondary data extracted from published annual reports of the sampled firms from 2007 to 2011, this study first determines the direction of causality between external finance and firm’s growth by means of the pairwise panel Granger Causality Tests. Thereafter, it uses both static panel Fixed Effects (FE) and the dynamic panel Generalized Method of Moments (GMM) estimation techniques to analyze the effect of external finance on firm’s growth in Nigeria. This study finds evidence of a unidirectional causality from external finance to firms’ growth, as against a two-way causality or feedback mechanism. In other words, external finance influences firm’s growth in Nigeria and not vice versa. Both static and dynamic panel estimations, however, show that this influence is insignificant, with confirmation coming from results of the three sources of external finance. This implies that external financing of firm’s growth is not a major channel through which finance promotes economic growth in Nigeria. Conversely, firm’s growth relies heavily on internal finance, thereby validating the postulation of the “pecking order” theory of capital structure that firms prefer internal finance to external finance. The results concerning the effects of firm size, firm age, profit, management efficiency, operating efficiency and labour on firm’s growth are, however, conflicting. Thus, the empirical test of the evolutionary principle of the “growth of the fitter” regarding the impact of profit on firm’s growth is inconclusive. In spite of the inconclusiveness of the effects of firm size on firm’s growth, this study invalidates the celebrated Gibrat’s law of proportionate effect. Consequent upon the results of this study, it is recommended that appropriate policies should be put in place to enhance the availability of and access to external finance in the country. Financial inclusion (broad access to financial services) will undoubtedly boost firm’s growth at the micro level and economic growth at the macro level.
Open Access
External Influence on the Human Resource Management Function in Nigerian Public Enterprises
(1999-07) Fasan, F.Y
This study seeks to examine through primary and secondary information the various ways in which government and its agencies influence and/or control the practice of human resource management, and to further determine if such external influence aids or hinders the effective practice of this management function in public enterprises. To critically examine the issues highlighted above, archival and survey information were utilised. The study was carried out in four public enterprises of contrasting characteristics and data were gathered using four instruments viz: a questionnaire survey, content analysis of organizational data, structured interview and non-participant observation. The study confirmed the propositions that: * Human resource policies and practices are adversely affected by governmental influence and/or control; * the public enterprises studied are treated as extensions of government departments (supervising ministries) and are thus forced to apply civil service bureaucratic procedures and methods in their operations; * Complete divestment of government equity holdings in public enterprises through privatisation tends to restrict governmental control of the human resource function. On the contrary, the studied evidence failed to confirm the hypothesis that governmental or external influence on the human resource function is drastically reduced after commercialisation. Thus, in spite of the fact that some of the enterprises have been commercialised with the avowed and often declared objective of infusing autonomy into their operations, this has often not turned out to be the case. In fact, partial commercialisation has not brought about any significant change in the style of enterprise management, and in the type of relationship that exists between enterprise management and government. Thus, due to this excessive governmental control and interference in the day-to-day running of the human resource function in these enterprises, their human resource departments have not been able to perform effectively. These departments have not been able to ensure the availability of well trained and well-motivated staff who can work efficiently and co-operatively together in the achievement of enterprise objectives and thus make for good organizational health.
Open Access
Foreign Portfolio Investment, Capital Flight and Capital Market Performance in Nigeria
(2016-10) Ohiaeri, N.V
The need for nations and individuals and firms to achieve efficient resources allocation , optimize wealth and productivity explains the rationale for investment diversification which gives rise to various investment windows like foreign portfolio investments. The rising trend of foreign portfolio investments in Nigeria raises concerns among stakeholders due to the growing imbalance in the market participation ratio between foreign and local portfolio investors in the Nigerian capital market This study therefore examines the interrelationship among foreign portfolio investments, capital flight and capital market performance in Nigeria using expost-facto and descriptive research designs of annual time series data between 1970 and 2014 . Data for the study were sourced from various issues of Central Bank of Nigeria , Security Exchange Commission reports, Nigerian Stock Exchange reports, National Bureau of Statistics and International Monetary Fund. The study adopts Multi-regression Analysis, Vector Error Correction Models, Ratio and percentages for the data analysis after some preliminary tests. Study findings reveal that significant volumes of foreign portfolio investments, capital market performance and capital flight have been generated within the review periods in Nigeria. The Ordinary Least Square (OLS), Forecast Error Variance Decomposition (FEVD) and Impulse Response Function (IRF) results show strong and positive relationship , short and long run interactive responses and a unidirectional causality among the capital flight , market capitalization and foreign portfolio investment at 5% and 10% levels of significance respectively. The study concludes that there is significant symbiotic connectivity among the examined variables in Nigeria and consequently, recommends an urgent review of capital importation policy, a robust regulatory framework and a re-investment incentive to discourage indiscriminate repatriation of investment proceeds outside Nigeria.
Open Access
Human Resource Management Strategy in Non-Unionized Banking Institutions in Nigeria.
(School of Postgraduate Studies University of Lagos., 2007) Atanda, A.A
Open Access
The Impact of Foreign Direct Investment and Financial Sector Development on Economic Growth of Nigeria.
(2014) Ajayi, L.B
This study empirically examined the impact of foreign direct investment and financial sector development on economic growth of Nigeria. The study modified the standard endogenous growth model to incorporate the interactions of foreign direct investment and financial sector development as having complementary impact on growth. Using time series analysis from 1970-2011, the study tested for the time series property of the variables used and adopted Ordinary Least Squares (OLS), Co-integration and Granger causality techniques to estimate the models. The result showed that foreign direct investment and financial sector development had separate negative impacts on growth. Interestingly, the interactions of foreign direct investment and financial sector development had positive complementary impact on growth in the short as well as in the long run. The complementary role was enhanced further by government consumption expenditures, gross capital formation and level of human capital development while, trade openness was found to be detrimental to growth in the study period. The causality relationship revealed a bi-directional causality between foreign direct investment, financial sector development and economic growth. These confirm that the complementary role of foreign direct investment and financial sector development is important and very significant to Nigeria’s economic growth. The study also affirms the views exposed from studies in most developed countries, that the spill-over benefits of foreign direct investment to a recipient country crucially depends on the extent of development of the domestic financial system. Therefore, policies that strengthen foreign direct investment and financial sector development should be formulated and implemented strictly and simultaneously. Government should formulate polices that discourage importation, promote local production, promote capital formation and invest more on human capital development without which the much talked about technological diffusion that is associated with foreign direct investment will be a mirage.
Open Access
The Impact of Improved Management Accounting Systems on Manufacturing Sector Performance in Nigeria.
(School of Postgraduate Studies University of Lagos., 2008) Ajibolade, S.O
Open Access
The impact of industrial disharmony in the health system outcomes: a case study of the Nigerian Health Sector
(School of Postgraduate, University of Lagos, Akoka, 2021) Fasanmade, O.A.
Industrial disharmony is a worldwide phenomenon which affects all professions and all cadres. In Nigeria several sectors have been affected by industrial disharmony, but it is quite common in the health sector. It is an almost intractable problem in the Nigerian health sector and almost every year there are strikes by one profession or the other within this sector. The strikes usually affect the secondary and tertiary tiers of healthcare. This qualitative study set out to analyze the cause, effect, and the impact of industrial disharmony/crises on the health sector, the government, and the people of Nigeria. A careful scientific search of the literature (both in print and online), newspapers, Government and Labour organization publications on the subject were collated and studied to understand the problem of industrial crises and how to proffer solutions to reduce or eliminate these incessant strikes in the Nigerian health sector. It was demonstrated that the main cause of the disharmony was poor remuneration/delayed or unpaid wages, poor healthcare funding, poor work environment, deficient healthcare infrastructure, inadequate and underfunded training, inter-professional rivalry and non fulfilment of government agreements/commitments. These led to poor job satisfaction, poor healthcare worker attitude, brain drain and loss of public’s confidence in the public health sector. These in turn led to poor health indices which influence the health and strength of the national workforce. Ways to reduce these strikes include improved healthcare funding, better training opportunities, collaboration/dialogue amongst the various professions in the health sector and firm commitment of government to fulfill past agreements and commitments willingly entered. Collective bargaining is a tool to be effectively used to carry workers along and get the best for them.

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