Faculty of Management Sciences

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Open Access
Academic Professionals’ and Developers’ Perception of the Prefab Housing System in Lagos State: A Comparative Study
(Department of Architecture, University of Lagos, 2019) Dixon-Ogbechi, Bolajoko Nkemdinim; Adebayo, Anthony Kayode
Despite all government efforts to the contrary, there has been housing shortages in Nigeria. The prefab housing system, a modern construction method has been used successfully by some nations to overcome this problem. Yet, this system has not been extensively adopted in Nigeria. To encourage its adoption, there is a need to investigate key stakeholders’ perception of this modern construction method. This study adopted the survey research approach to comparatively investigate the perceptions of academic professionals and developers of the prefab housing system with the aim of identifying the key variables that can promote and hinder its adoption so as to formulate appropriate marketing strategies to promote its adoption in the Nigerian built environment. A sample of 250 respondents comprising of 150 academic professionals and 100 developers was selected using the multi-stage sampling approach. The data gathered was analysed using descriptive statistics on the SPSS version 21. The hypotheses were tested at the 5% level of significance using the Levene’s test for equality of variances and the independent samples t-test. It was discovered that built environment academic professionals and developers in Lagos state are equally familiar with and knowledgeable about the prefabricated housing system. And they both have similar views about the factors that could hinder/promote the sustainable application of prefabricated housing system in Lagos State. Hence, in formulating relevant policies to promote the adoption of the prefab system, policy makers need to focus more on strategies that will encourage academic professionals and practitioners to apply this modern construction method.
Open Access
Achievement Motivation:
(2007) Umukoro, F. G.; Kuye, O.L.
The multifaceted approach employed in this study enables the assessment of achievement tendencies in various cultural environments. The results of this study may stimulate the analysis of achievement tendencies among sub populations differing on additional variables, example, gender, vocation, or organizational roles. Furthermore, the evidence regarding the complexity of achievement motive may offer the prospect of matching certain achievement motivation profiles to certain occupations, position or task. More empirical work may enable its application to practical situations, such as personnel selection and placement, or human resources development.
Open Access
Achieving Maximum Economic Transformation Impact In Fragile States Through Aids And Debt Relief
(2007) Obademi, O.E.
This paper focuses on the peculiar features of fragile states and I have tried to put forward some approaches that can be adopted by development finance organisations and friendly countries at bailing out these states-from their predicament. With the growing awareness and acceptance of the notion that poverty anywhere is a threat to prosperity everywhere and prosperity anywhere should be shared everywhere it is , obvious that fragile states can not be left on their own without external assistance. A link between fragile states and the global economy was done with particular recourse to . debt relief. aids and fragility while drawing conclusions and making recommendation on the mix of approach to be adopted in giving aids and debt relief that will help achieve maximum economic transformation impact in fragile stales.
Open Access
Airline service quality dimensions and customer loyalty: Empirical evidence from Air Passengers’ in Lagos State
(Zech Journal of Tourism, 2016) Oghojafor, B.E.A; Ladipo, P.K.A; Rahim, A.G.
Air travellers are increasingly becoming more demanding in terms of their expectations of the quality of service offered by airline carriers. Hence, operators must improve service delivery to retain their loyalty. This study investigates the relationship between airline service quality dimensions and customer loyalty among air passengers in Lagos state. Causal research design was adopted to examine the aforementioned relationship. Convenience sampling technique was used to survey 600 air travellers. Data collected from the respondents were analysed by using Pearson correlation analysis and Anova. The findings reveal that the service quality and its dimensions are positive and significantly related to each other, overall service quality and customer loyalty. The results of the study indicate no significant difference between customers’ travelling for different motives in their perception of the quality of services. It was also discovered that flight frequency was insignificantly connected to customer loyalty. In line with the above findings, the study concludes that the airline service quality improvement initiatives should begin with recognition of customers’ needs. Correspondingly, airline operators should cultivate strategies to fulfil their service promise along the service quality dimensions, most important to air travellers to enhance customer loyalty.
Open Access
Allocation of resources for risk management activities by business organisations in developing countries: Evidence from Zambia
(2022) Silwimba, P. & Fadun, O. S.
This study evaluates resources allocated for risk management by business organisations (financial and non-financial firms) in developing countries, using Zambia as a case study. Primary data collected from 158 organisations were analysed using MegaStat. The findings revealed that the majority (54.5%) of organisations, especially non-financial institutions, only commit resources to risk mitigation on an Adhoc or post-event basis, while 45.5% showed a budgeted approach. A significant part of the budgeted 45.5% was used for risk management activities, and 54.5% was used for regular daily operations. Despite this variation, all organisations engaged reported a significant expenditure on risk management, at least on Adhoc. At 4 degrees of freedom (df), which was one less than the total number of possible outcomes, a non-parametric test for significance yielded a scientific P-value of 1.57e-0.7, (a numerical magnitude of 0.0014, P< 0.05). This suggests that the correlation and pattern of the findings were not random or by chance, but they carried a statistical significance. The study's main findings demonstrate that some business organisations in Zambia and other developing countries incur significant expenditure with a higher portion of their budgets to respond to risk management needs. Business organisations which do not have formal risk structures do so informally due to pressure from emerging business risks. The findings also indicated that financial institutions in developing countries allocate more resources towards risk management than non-financial institutions. The Phi coefficient (degree of association) was 0.486, showing a moderately significant relationship between the variables (risk management and resource allocation). Business organisations in Zambia and other developing nations must develop sound risk mitigation plans and allocate resources for risk management.
Open Access
Amnesty and human capital development agenda for the Niger Delta
(2010) Akinwale, A.A
The Niger Delta of Nigeria has become increasingly famous due to massive oil deposits and escalation of violence in the region. The emergence of deadly militant groups embodied oil pipeline vandalisation, hostage taking, massacre, and assassination. Unfortunately, the Nigerian government’s top-down measures for alleviating the spate of violence in the region have not yielded desired results. This paper examines amnesty and human capital development agenda, using content analysis of relevant secondary data, with insights from the Habermasian Social Movement Theory and the Althusserian State Apparatus Theory. The paltry financial rewards granted to ex-militants are incomparable with huge amount of money they realised illegally. Thus, a resurgence of violence may occur in the region except the undesirable socio-economic situations that fuelled militancy are addressed. While amnesty is a good step towards peace building in the region, a holistic approach to human capital development must be taken to compliment it. Fundamentally, ex-militants’ endorsement of the amnesty without proven records of improvement in the Niger Delta situation is inappropriate. Also, the Nigerian government’s adoption of amnesty without ensuring accelerated empowerment within oil-endowed communities negates popular demands in the region. The amnesty programme should therefore be complemented by other innovative measures such as wide consultation with various stakeholders and inclusion of all youths in the training programmes that will cater for essential needs of the majority in the region.
Open Access
An Analysis of the Use of Insurance by Banks - Evidence from the Nigerian Banking Sector
(2016) Fadun, O.S.; Hood, J.
The global financial crisis in the banking sector centred on range of issues connected with risk and its management. In effect, many banks were seen as being excessively focused on the potential rewards of high-hazard activities; but focused less on the negative consequences of those activities. The study also identified insurance policies suitable for managing banking risks, and articulated the need for banks to use appropriate insurance policies to manage their risks. Using data collected through questionnaire from 1050 participants selected through stratified sampling technique; the study analysed the use of insurance in the Nigerian banking sector. The study was based on the theoretical aspects of insurance practice. The findings suggest that: banks have insurance company or subsidiary firm, banks purchase insurance through insurance brokers/intermediaries; banks are statutorily required to purchase insurance, and centralisation of insurance and risk management practices are paramount risk management practices among banks in Nigeria. Generally, the study indicated that banks should clearly articulate risk management policies in order to promote organisation-wide effort and effective management of risks across organisational spectrum; thereby, integrating risk management into banks’ philosophy, practices and business plans. The implication for practice is that insurance is a risk management tool, suitable for managing banking risks.
Open Access
Analysis of insurance products and services effectiveness in rural areas (Case study of Lagos state, Nigeria).
(2022) Idowu, T. S. & Fadun, O. S.
Providing insurance services in rural areas is beneficial to improve insurance penetration. This paper analysed the effectiveness of insurance products and services in rural Lagos State, Nigeria. It assessed the ability of the Nigerian insurance sector in providing insurance services to rural areas, and identifying how geographic conditions and lack of infrastructure amenities affect the location of insurance companies. The data used for the study was collected through interviews. The findings show that rural dwellers' lack of knowledge about the insurance and insurance industry prevents them from engaging in the industry. The findings also show that while non-settlement of insurance claims discouraged rural dwellers from purchasing insurance products and services, there is no affordability of insurance products and services mainly for rural dwellers in Nigeria. The results suggest that the government and the insurance sector should develop insurance products and services to meet the needs of rural dwellers to ensure insurance growth and deepened insurance penetration in Nigeria.
Open Access
Analysis of motives influencing portfolio investment decisions: the Nigerian experience
(2023-08) Iredele, O.O.; Alli, S.O.; Fagboro, G.D.
This study investigates factors influencing portfolio investment decisions in Nigeria. The Nigeria Treasury Bill and Federal Government Bond were used as main portfolio investments for the study. Personal factors, economic factors and socio-cultural factors were examined as variables influencing investors’ behaviour. Structured questionnaire was administered to a sample size of 400 respondents selected through convenience sampling technique in Lagos State. Both descriptive and inferential statistics were applied to test the data collected with the aid of the Statistical Packages for Social Science (SPSS) version 20.0. The result revealed that all three variables under study have significant influence on portfolio investment decision. Thus, concludes that personal, economic and socio-cultural factors influence decisions to invest in Treasury Bills and Federal Government Bonds in Nigeria. The study recommend that organizations and managers in the Nigeria business environment should focus on personal, economic and socio-cultural factors when trying to determine influences on investment decision.
Open Access
An analysis of the impact of external debt on banks' performance:
(BritishJournal Publishing Incorporated, 2013) Obademi, O.E
This study focuses on the long run relationship and causal impact between foreign or external debt and bank performance using different performance indices such as return on capital employed, earnings per share and return on equity. The micro analysis done which in this regard is on the firm specific choice of the two big banks in Nigeria i.e. First Bank Plc and United Bank for Africa during the period before the debt relief granted to Nigeria is apt against the backdrop of concentration profitability relationship. A general model of the micro analysis was developed with ample support of a macro model underpinned by a simultaneous equation using a vector auto-regression estimation. The findings are that foreign or external debt impacts negatively on bank performance but the direction of impact is different for the two banks chosen in this study. While foreign debt was most felt on return on capital employed by United Bank for Africa, the impact of foreign debt affected the earnings per share most in First Bank Plc. The difference in the direction of causal impact can be attributed to the peculiarity of the internal environment of each of the banks.
Open Access
An Analysis of the Impact of Mergers and Acquisitions on Commercial Banks Performance in Nigeria.
(2012) Adebayo, O.; Olalekan, O.
Mergers and acquisitions (M&A) in the corporate world are achieving increasing importance and attention especially with the advent of intense globalization. This is evident from the magnitude and growth of deal values and resultant ‘mega-mergers’ transacted in recent times. This research work attempts to assess the implication of merger and acquisition of commercial banks in Nigeria on their profitability and other associated measures of performance. The research analysis used published audited accounts of ten (10) out of twenty-four (24) banks that emerged from the consolidation exercise and data from the Central Banks of Nigeria which consists of both primary data. The relevant data collected were analyzed and tested using simple percentage and tables. Subsequently, the three hypotheses formulated in this study were tested using correlation co-efficient (r2) and T-Test. The result of the analysis revealed that there is significant relationship between pre and post merger/acquisition capital base of commercial banks and level of profitability, there is significant difference between pre and post-merger acquisition earnings per shares. Merger/acquisition have also increased the capitalization of commercial banks with evidences of changes in company’s share ownership, increase in the cost of services and changes in bank lending rates. Based on these findings, it can be concluded that the merger and acquisition programme has improved the overall performances of banks significantly and also has contributed immensely to the growth of the real sector for sustainable development.
Open Access
Analysis of the impacts of insurance claims settlement on economic growth - The case of Nigeria
(2023) Fadun, O. S.
Insurance plays an essential role in stimulating economic growth. Insurance is an intangible product, and prompt claim settlement proves that insurers fulfill their promises to the insureds. This paper analyses the impacts of insurance claims settlement on economic growth. It examines the effect of insurance claims' settlements on a nation's economic growth, using Nigeria as a case study. The research utilised an ex-post facto design, using 28-year time series data (1992 – 2019). Gross Domestic Product (GDP) and Nigeria's insurance companies' claims settlement are the dependent and independent variables used for the study, respectively. The Long-run co-integration result revealed that INCLM (Insurance claims) has an insignificant negative effect on GDP. The coefficient shows that a percentage increment in INCLM (Insurance claims) would result in a 1.22 decrease in GDP. The results indicate that insurance claims settlement has an insignificant negative effect on economic growth. This implies a negative relationship between insurance claims settled by insurance companies and economic growth in Nigeria. The finding is surprising as one expects that settlement of claims by insurers should positively impact economic growth. The implication is that the relationship between insurance claims settlement and economic growth varies depending on several factors, including country-specific factors and the performance of the country's insurance industry.
Open Access
An Analytic Hierarchy Process Analysis: Application to Subscriber Retention Decisions in the Nigerian Mobile Telecommunications.
(2015) Adebiyi, S.O.; Oyatoye, E.O.; Kuye, O.L.
The introduction of mobile number portability (MNP) in the Nigerian telecommunications industry has brought a new challenge for mobile operators. This study investigates the use of Analytic Hierarchy Process (AHP) in customer retention decisions in the Nigerian telecommunication industry using a cross-sectional survey design. Primary data were obtained through questionnaires administered to 480 mobile telecommunications subscribers in six tertiary institutions located in Lagos State, Nigeria. These educational institutions were chosen using a multistage sampling technique. Of 438 questionnaires received from subscribers, 408 were valid. Based on this sample data an AHP model was built to assess the determinants of customer retention decisions. Next, eigen values, an eigen vector and maximum lambda (λMax) were obtained using the AHP analysis for the matrices. This analysis shows that customers considered call quality as the important in the retention decision. We conclude that AHP is a meaningful tool for determining what motivates retention decisions, that can help network operators formulate effective customer retention strategies.
Open Access
An Analytic Hierarchy Process Analysis: Application to Subscriber Retention Decisions in the Nigerian Mobile Telecommunications
(International Journal of Management and Economics, 2015-10) Kuye, O.L.; Sulaimon, O.A.; Oyatoye, E.O.
The introduction of mobile number portability (MNP) in the Nigerian telecommu- nications industry has brought a new challenge for mobile operators. This study investi gates the use of Analytic Hierarchy Process (AHP) in customer retention decisions in the Nigerian telecommunication industry using a cross-sectional survey design. Primary data were obtained through questionnaires administered to 480 mobile telecommunications subscribers in six tertiary institutions located in Lagos State, Nigeria. These educational institutions were chosen using a multistage sampling technique. Of 438 questionnaires received from subscribers, 408 were valid. Based on this sample data an AHP model was built to assess the determinants of customer retention decisions. Next, eigen values, an eigen vector and maximum lambda (λMax) were obtained using the AHP analysis for the matrices. This analysis shows that customers considered call quality as the important in the retention decision. We conclude that AHP is a meaningful tool for determining what motivates retention decisions, that can help network operators formulate effective customer retention strategies.
Open Access
Antecedents of Tourists behavioural intentions, perspectives of expectations confirmation model: A study of select Tourism Cites in South-East Nigeria.
(International Journal of Education, Culture and Society, 2021) Nwatu, B.C.; Nwaizugbo, I.C.; Rahim, A.G.
Tourism has expanded dramatically in Nigeria over the last six decades, becoming one of the largest and fastestgrowing sectors of the Nigerian like in the global economy. The World Travel and Tourism index ranked Nigeria 129th out of 140 countries and Nigeria’s ranking is well below average rankings for sub-Saharan Africa. This study was motivated by the need to explore the antecedents of tourists’ behavioural intentions from the perspectives of the expectations confirmation model. The study extended the model by adding perceived trust to original components. Several studies have been conducted from the perspective of this model in tourism in many countries but none in Nigeria. The study was based on a sample 400 tourists selected from the five states in the South East geopolitical zone of Nigeria out of which 317 respondents returned valid questionnaire. The study population was infinite hence respondents were those seen at the various tourist sites and who agreed to fill the questionnaire. The analysis utilized partial least squares structural equations modelling (PLS-SEM) with the aid of WarpPLS version 7.0. All the hypothesised relationships are statistically significant (Table 6). The 95% confidence intervals straddle no zero in-between for all the hypotheses. The Effect sizes in our analysis range from as high as 0.409 for Confirmation which is the highest to 0.209 for PP and 0.149 for CE. Conf. and PT have 0.094 and 0.084 respectively hence all the IVs in our analysis fall within acceptable range from medium to high effect sizes and are all considered relevant in our model. Implications of the study were also discussed and recommendations for further study were also made
Open Access
Anti-social tax practices and social economic development in Nigeria: the stakeholders’ perceptions
(2013) Olatunde, J.O
The tax system is at the heart of an effective state. Although tax revenues are crucial to enable the state to redistribute wealth and to provide public goods, such aspirations are increasingly checked by tax evasion and tax avoidance practices and fiscal corruption. The paper examines the role of these practices on social economic development in Nigeria. It locates the role of taxpayers within the political economy theory to argue that the anti-social tax practices are shaped by socio-political and economic structures in the society. Using results from 24 interviews, the paper argues that social structures have influenced and [re]shape the attitudes and behaviour of actors towards committing anti-social tax practices. This has adversely affected government revenue thereby undermining investment in public goods, which has eroded the quality of life of Nigerian citizens and led to a decline in life expectancy. The paper advocates a radical reform of the tax system to curb these attendant problems.
Open Access
An Application of Aaker’s Methodology to the Measurement of Customer Perception of Brand Personality of Lagos State as a Tourist Destination
(Department of Business Administration, University of Lagos, 2017) Ajeyalemi, Oladipupo Folorunsho; Dixon-Ogbechie, Bolajoko Nkemdinim
Anthropomorphism is the belief that brands can possess human characteristics, which raises a tendency to assign human traits to inanimate objects. It is on this premise that Brand Personality takes its roots. Brand Personality has been defined as ‘the set of human characteristics associated with a brand’. Several studies in the measurement and influence of Brand Personality abound, however there has been a dearth of studies in the Nigerian literature. The objectives of this study were to develop a scale to measure customer perception of Brand Personality using Aaker’s methodology, and to apply such scale to measure perception of Brand Personality of Lagos State as a tourist destination. The population of the study was consumers of 8 tourist destinations selected via a preliminary study, while a purposively selected sample of 908 respondents completed self-administered questionnaires developed using Aaker’s methodology for measuring Brand Personality. The result was analyzed using Exploratory Factor Analysis resulting in a four-factor model with items loading above 0.50. The scale was adjudged to be stable after carrying out Confirmatory Factor Analysis with all relevant statistics within recommended levels. The findings showed three factors with strong similarity to two of Aaker’s Brand Personality Dimensions (Ruggedness and Excitement) and unveiled two more Factors – ‘Insightfulness’ and ‘Bizarreness’. It was concluded that Aaker’s methodology is suitable for developing scales to measure consumer perception of Brand Personality in the tourism industry.
Open Access
Application of AHP to investment portfolio selection in the banking sector of the Nigerian capital market
(Journal of Economics and International Finance, 2010) Oyatoye, E. O.; Okpokpo, G. U.; Adekoya, A. G.
The importance of investment to the individual, a nation and world economy cannot be over emphasized. Investment involves the sacrifice of immediate consumption to achieve greater consumption in the future. Western economies has emphasized saving and investment as the engine of economic growth. The Nigerian banking sector has made tremendous success in the recent past. All the banks that approached the capital market via public offers and right issues to raise their capital base recorded huge success. Apart from the fact that banks are experiencing structural expansion and high –posted profits, the investors in bank stocks are also enjoying high returns on investment, despite the slow growth in the nation’s economy. However, the recent financial crisis that started in America, which has caused economy meltdown in many nations of the world and sudden fall in share prices, has brought about a higher risk than envisaged on investors, particularly those investing in bank stocks. Hence, great care and monitoring is required on the part of investors to ensure that fund invested does not go down the drain. This paper applies the Analytic Hierarchy Process to determine the importance of the various criteria, factors and alternatives that are very essential to successful investment decisions in the face of the current recession.
Open Access
Application of Queueing theory to port congestion problem in Nigeria
(European Journal of Business and Management, 2011-11-04) Oyatoye, E.O; Adebiyi, S.O.; Okoyee, J.C; Amole, B.B.
This paper stresses the importance of queueing theory to the problem of port congestion in order to enhance sustainable development of Nigeria ports. Nigeria Ports are characterized with incessant congestion problem in the recent past. This has resulted in diversion of ships scheduled for Nigeria Ports to other neighbouring country ports which has caused the country to lose a lot of revenue. The effectiveness of a Port is contingent upon loading and unloading of ships. The traffic movement through a port is a complex phenomenon because of the random nature of the arrival and service time of the ships. This requires a systematic approach in port planning and management. Queuing model was applied to the arrival and services pattern which causes the problems of congestion and proffer solutions to the problem areas. It is also used to predict the average arrival rate of ships to Tin Can Island Port and the average service rate per ship in a month. The study to found out the number of berth in Nigeria port is adequate for the traffic intensity of vessels but other factors leading to port congestion were identified through the content analysis of the interview conducted with stakeholders at the port. Policy recommendations that could make Nigerian ports to be cost effective, more attractive and enhance quick turnaround of vessels at the ports were made.
Open Access
Application of the AHP Model to Determine Prefab Housing Adoption Factors for Developers in Lagos State
(International Journal of the Analytic Hierarchy Process, 2020) Dixon-Ogbechi, B.N.; Adebayo, A.K.
Research has shown that there is presently a housing deficit of about 17 million housing units in Nigeria, yet it appears that the concerted efforts that have been put in place by the government to address this issue have not yielded the expected results. Although the Nigerian government in its Vision 2020 policy document recognized that one of the ways of resolving the issue of providing adequate housing in Nigeria is to change from the traditional brick and mortar system to modern construction methods like prefab housing, not much has been done to promote the adoption of this new method by the relevant stakeholders, among whom are the developers. This study employed a survey research approach using the AHP (Analytic Hierarchy Process) to investigate the most important factors that developers take into consideration when they build a house. There are several different types of prefab housing and knowledge of what the developers’ consider key factors and priorities would make it possible to determine the type of prefab housing that best fits their needs. This information could provide the basis to design a government marketing strategy to promote prefab housing to both the developers and their customers. Since the judgments will be provided by developers in Lagos State, they will be customized for the conditions and preferences of the developers and citizens there. Therefore, the government and organizations will be able to give priority to these identified factors when formulating relevant strategies to promote the building of more prefab housing.

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