Economics-Scholarly Publications

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    Open Access
    Solid minerals, good governance and rethinking: The way forward
    (The Faculty of Arts, Obafemi Awolowo University, Ile-Ife, Osun State, 2018) Olofin, P.O.; Odeleye, A.T.
    Using annual time series between 1996 and 2014, this study examines the impact of disaggregate solid minerals and government governance on poverty level in Nigeria. The results from the study show that coal, metaore, quarry and others reduce poverty level, while good governance relate positively to poverty level in Nigeria. The results were statistically significant. The study shows that investment on different types of solid minerals could reduce poverty level in Nigeria, while there is a need to improve good governance in Nigeria if poverty reduction is to be achieved.
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    Open Access
    Ownership structure and dividend payouts of listed banks in Nigeria
    (Asian Research Journal of Business Management, 2015) Odeleye, A.T.
    Dividend payout is a major corporate decision and an inconclusive debate in financial parlance. Agency theory provides the basis for the articulation of the model which captures the effects of ownership structure on dividend payouts. Data on ownership structure (managerial shareholding, and other Nigerians’ shareholding) and dividend per share of 15 listed banks in Nigeria, from 1995-2012 were compiled from annual reports and statements of accounts of sampled firms; and various issues of the Nigerian Stock Exchange Factbook. Dynamic panel model and system generalised method of moments (SYSGMM) technique were employed for analysis. Empirical findings of the paper indicate that ownership structure influences dividend payouts in Nigeria positively.
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    Open Access
    Service sector potentials in the transformation of the Nigerian economy
    (Business and Economic Quarterly, 2018) Olusoji, M. O.; Odeleye, A.T.
    This paper focuses on sectoral contributions to economic growth in Nigeria using quarterly data from 1981 to 2015. Multiple regression analysis is employed to examine the relationship between the Gross Domestic Product (GDP) and some of its non-oil components (agriculture, non-oil manufacturing and services). The results of the analysis indicate that agricultural sector is the highest contributor to GDP followed by the service sector during the pre-rebasing period (1981-2013) but the results differ slightly when the period is extended to cover post-rebasing period (1981-2015). The extension of estimation to post-rebasing period shows an increase in the service sector’s contribution to GDP, which is an indication that the service sector has potentials to contribute immensely to GDP if more attention is given to it. It is suggested that more attention be focused on investment in the service sector to boost the growth of GDP.
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    Open Access
    Pre-consolidation and post-consolidation of banking sector: A dynamic comparison
    (2014) Odeleye, A.T.
    The Central Bank of Nigeria’s (CBN) recent reform to consolidate the banking sector through drastic increase to #25billion as minimum capital base of any bank led to a remarkable reduction in the number of banks from 89 to 24 in 2005; changed their mode of operations and their contributions to the nation’s economic development. Drawing on original research on consolidation of banking sector, this study examined the impact of consolidation on performance of Nigerian banks for the period 1999 to 2011. It employed Chow test; a parameter stability test which showed that there was parameter instability after the consolidation. System GMM (generalized methods of moments) estimation was further used to ascertain the directional and magnitudinal (size) impact of consolidation on the banks’ efficiency. With emphasis on earnings per share as a proxy for consolidation, it is inferred that Nigerian banking consolidation exercise did impact their efficiency positively.
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    Open Access
    Impact of COVID-19 pandemic on financial health and food security in Nigeria: A survey-based analysis
    (Journal of Public Affairs, 2023) Akinleye, S.O.; Dauda, R.O.S.; Iwegbu, O.; Popogbe, O.O.
    This study investigates the impact of COVID-19 pandemic on the health, food security and financial lives of Nigerian households. The data for the study were collected from 813 households from the six geo-political zones in Nigeria using a questionnaire and the results were analysed using descriptive statistics and and ordinal logistic regression model. The ordinal regression model is appropriate for regression results with ordinal scales as the dependent variable. The findings reveal that the COVID-19 pandemic has affected households' personal savings significantly. The majority of the households' healthcare financing is borne out of their personal income and savings in the absence of a health insurance scheme. Households experiencing worsening financial status largely did not have food during the pandemic. Many households have a positive expectation that they will recover from the unfavourable financial condition they are currently experiencing and there is a strong traditional support system existing in the localities during the study period. Furthermore, food insecurity during the pandemic was significantly occasioned by an increase in prices, a fall in income, adverse financial well-being and insufficient welfare benefit provisions. The study recommends, amongst others, the need to urgently enhance the economic and financial well-being of the Nigerian populace to guide against the devastating impact of the COVID-19 pandemic on food security in Nigerian households. This can be achieved through robust fiscal and monetary policy mix in ensuring sustained development trajectory.