Browsing by Author "Musa Ilias Biala"

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    A Review of the economist’s approach to pollution and its control
    (2019) Musa Ilias Biala
    Pollution, being a social and environmental problem, has been a subject of inquiry by environmental economists. Environmental economists see pollution as an externality problem or a market failure, and have therefore investigated factors affecting pollution and its control. Consequently, they advocate the use economic instruments to control pollution. However, despite the widely acclaimed potency or effectiveness of economic instruments in the literature, their real-world application has not caught on, the situation which could be caused by the shortcomings associated with the application of economic instruments. This paper, therefore, critically reviews economic approach to pollution and its solutions, with a view to providing ways the associated shortcomings or problems could be overcome. The paper also conceptualizes and classifies pollution as well as externalities into different taxonomies. Examining the taxonomies will prove useful in designing policy measures to combat various types of pollution, for each type requires a unique policy measure. Failure to recognize the distinctions among the different types of pollution may lead to counterproductive policies. One of the factors found to be responsible for the weak application of the instruments in the real world is implementation costs. An option recommended for policymakers is to minimize those costs associated with implementing economic instruments by designing pollutant-specific policies, while other tractable problems should be tackled as recommended in this paper.
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    BEYOND ENERGY: THE ROLE OF COLONIAL LEGACY IN THE EFFECT OF INSTITUTIONAL QUALITY ON RENEWABLE ENERGY CONSUMPTION IN WEST AFRICA
    (Department of Accounting and Finance, Faculty of Management and Social Sciences, Kwara State University, Malete, 2024-12) Musa Ilias Biala; Ololade Mistura Aromasodun
    A stable institutional framework and colonial legacy are essential for ensuring environmental quality and economic growth. However, recent studies have overlooked these critical factors despite their significance. This study, therefore, explored the impact of institutional quality on renewable energy consumption in West Africa from 1990 to 2023 with a novel incorporation of the influence of colonial legacy. Using data from the World Bank’s World Development Indicator, this study utilised the Pooled Mean Group technique. The study found that in the long run, GDP per capita, carbon dioxide emissions and urbanisation had a significant negative impact on renewable energy consumption whereas technology, institutional quality, and the interaction of institution with colonial legacy had a significant positive impact on renewable energy consumption. To achieve sustainable development, the study recommends that policy makers prioritise institutional stability while leveraging technological advancements to promote renewable energy production. Policymakers and international organisations should consider the unique historical and institutional context of West African countries while designing renewable energy policies and programmes. Keywords: Renewable energy, institutional quality, energy economics, colonial legacy. JEL Codes: Q42, D02, Q43, N40
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    Beyond energy: The role of colonial legacy in the effect of institutional quality on renewable energy consumption in West Africa
    (2024) Musa Ilias Biala; Ololade Mistura Aromasodun
    A stable institutional framework and colonial legacy are essential for ensuring environmental quality and economic growth. However, recent studies have overlooked these critical factors despite their significance. This study, therefore, explored the impact of institutional quality on renewable energy consumption in West Africa from 1990 to 2023 with a novel incorporation of the influence of colonial legacy. Using data from the World Bank’s World Development Indicator, this study utilised the Pooled Mean Group technique. The study found that in the long run, GDP per capita, carbon dioxide emissions and urbanisation had a significant negative impact on renewable energy consumption whereas technology, institutional quality, and the interaction of institution with colonial legacy had a significant positive impact on renewable energy consumption. The study concludes that technology, institutional quality and the interaction of institution with colonial legacy exert a positive effect on renewable energy consumption while GDP per capita, carbon dioxide emissions and urbanisation exert a negative effect on renewable energy consumption. Hence, to achieve sustainable development, the study recommends that policymakers prioritise institutional stability while leveraging technological advancements to promote renewable energy production. Policymakers and international organisations should consider the unique historical and institutional context of West African countries when designing renewable energy policies and programmes.
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    Determinants of Susceptibility to Sunk-Cost Fallacy: A Nigerian Case Study
    (Faculty of Economics, Commercial & Management Sciences Ziane Achour University of Djelfa, Algeria., 2022) Musa Ilias Biala
    A general economic principle is that when evaluating the costs of a decision, sunk costs should not be considered, and the decision-maker should consider only those costs that are incurred as a result of making that decision. However, both anecdotal and empirical evidence has shown that when making decisions, people are influenced by sunk costs, thereby committing the sunk-cost fallacy. A corpus of research has established that this fallacy occurs among different nations and cultures to differing extents or degrees. However, none of the previous research was conducted on Nigerians. This study, therefore, investigates whether Nigerians, too, commit this fallacy and then identifies factors that affect Nigerians’ susceptibility to the fallacy. Employing a binary logit model, it was found that about 49 per cent of the respondents to questions based on a decision-making vignette committed the sunk-cost fallacy. The results also showed that locus of cost responsibility (whether the cost was borne by the decision maker or another person on behalf of the decision maker) and ethnicity (whether the decision maker is Yoruba or not) were significant determinants of susceptibility to sunk-cost fallacy. This suggests that in Nigeria, the sunk-cost fallacy is intrapersonal and more prevalent among the Yorubas than among the Hausas or the Igbos. Therefore, the sunk-cost fallacy is ubiquitous and more likely in personal decisions than decisions made on behalf of others.
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    Economic growth and environmental sustainability: assessing the validity of the environmental Kuznets curve in Nigeria
    (Department of Economics, University of Nigeria, Nsukka, Enugu State, 2024) Musa Ilias Biala
    The environmental Kuznets curve (EKC) hypothesis explores the relationship between economic growth and environmental quality, suggesting that environmental degradation initially worsens with economic growth but improves after reaching a specific income threshold. While evidence supporting the EKC exists for some pollutants and countries, results remain mixed for Nigeria. This study therefore reexamines the EKC hypothesis for Nigeria, focusing on key environmental degradation indicators: CO2 emissions, fossil fuel consumption, resource depletion, and erosion. Specifically, it investigates whether an EKC relationship exists between these indicators and GDP growth. The study also determine Nigeria’s growth threshold, above which economic growth benefits the environment. Using time-series data from 1981 to 2023 sourced from the World Bank’s World Development Indicators, the study employed threshold regression analysis to evaluate the validity of EKC hypothesis. The results reveal mixed alignment with the EKC hypothesis. While some indicators of environmental degradation validate the EKC hypothesis, others refute it. This study, therefore, concludes that economic growth impacts only some aspects or components of environmental degradation. Accordingly, policy measures such as adoption of green technologies, promotion of renewable energy, and enforcement of stricter environmental regulations are recommended in order to achieve sustainable economic growth. Adopting these measures would reduce pollution, conserve natural resources, and mitigate climate change, fostering a balance between economic growth and environmental sustainability.
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    Economics of Begging: A Critical Assessment of Socio-Economic Determinants of Begging in Nigeria
    (Ilorin Journal of Administration and Development, 2024) Musa Ilias Biala; Matthew O. Odedokun; Olatunji M. Shasi; Sodiq O. Jimoh; Rashidat S. Akande; Abdul M. Shitu; Hauwah K. K. AbdulKareem
    The prevalence of begging is a social issue that is prominent mostly in urban areas of many countries. To comprehensively understand the problem of begging and tackle the issue at the policy level would require the knowledge of what motivates people to beg and how the supply of the activity responds to changes in the income of the participants. This study, therefore, examines the socio-economic determinants of begging and estimates the income elasticity of begging in Kwara State, Nigeria. A stratified random sampling technique was employed to gather data from 153 beggars in the 16 Local Government Areas of the Kwara State using questionnaire and face-to-face interview. The study employed the Ordinary Least Squares (OLS) technique to analyze the data collected. Findings reveal that employment status, access to public goods, physical challenges, and hereditary factors were significant determinants of the duration of begging. Stable employment and access to essential public services were associated with a reduced reliance on begging while physical disabilities and a family history of begging were positively associated with prolonged begging. Further, we found a positive income elasticity of begging. The study concludes that begging is a complex socio-economic phenomenon, with individual and systemic factors jointly contributing to its persistence. It is recommended that policymakers focus on job creation targeting marginalised and vulnerable populations; disability pensions and employment support for the disabled; improved access to public goods such as quality education, healthcare, and infrastructure and commuunity-led initiatives aimed at the social and economic reintegration of beggars.
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    Effect of fiscal decentralisation on economic growth in Nigeria
    (Department of Economics, AL-Hikmah University, Ilorin, 2023) Abdullateef Amin; Musa Ilias Biala
    The relationship between fiscal decentralisation and economic growth has been a subject of ongoing scrutiny. Yet, empirical findings have failed to provide a consistent guide due to a lack of consensus. This study therefore investigated the relationship between fiscal decentralisation and economic growth, using time series data from 1993 to 2021. The motivation for this study arises from the imperative to bridge the gaps in the existing studies and provide empirical insights into the effect of fiscal decentralisation on economic growth. Understanding whether fiscal decentralisation acts as a catalyst or impediment to economic growth is essential for policymakers, researchers, and stakeholders seeking to formulate effective strategies for sustainable development. This study investigates the relationship between fiscal decentralization and economic growth using time series data from 1993 to 202 in Nigeria. The objectives include examining the impact of decentralizing fiscal expenditure, revenue, and deficits on economic growth. The study also distinguishes between the federal government and sub-national government components of these fiscal aspects. The neoclassical economic growth theory and Bhardhan and Mookherjee's decentralisation model, guide the study, which employs the OLS estimation method on data from the CBN, IMF and World Bank data sources. The study reveals that sub-national expenditure and revenue decentralisation have a greater pro-growth effect than their federal government counterparts and that fiscal deficit decentralisation has no effect on economic growth in Nigeria. Consequently, the study recommends that policymakers should promote government revenue and expenditure decentralisation to enhance economic growth.
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    Effect of Information and Communications Technology on Economic Growth in Africa
    (2021) Yusuf Toyin Yusuf; Musa Ilias Biala
    Information and communications technology (ICT) has been identified as one of the factors that drive economic growth and development. Thus, various empirical studies have been conducted with a view to examining the effects of ICT on economic growth. However, such studies failed to examine whether real per capita income influences the effect of ICT on economic growth, and whether the effect of ICT on economic growth differs among sub-regions of African countries. This study, therefore, sought to (a) investigate the effect of ICT on economic growth, (b) examine whether real per capita income influences the effect of ICT on income level and economic growth and (c) whether the effect of ICT on economic growth differs among the sub-regions of African countries. While a panel regression analysis was carried out, Hausman, Poolability and Breusch-Pagan LM tests were employed to choose the appropriate estimator between the fixed-effect and random-effect estimators. Data were obtained from the World Bank’s World Development Indicators and International Monetary Fund classification of Africa countries. Results were evaluated at 0.05 level of significance. The results showed that ICT did not have significant effect on economic growth, and that the effect of ICT on economic growth did not differ among the sub-regions of African countries. However, we found that real income per capita influenced the effect of only mobile cellular subscription (an indicator of ICT) on economic growth. Therefore, policymakers should not rely on ICT for sustained output growth because it can only lead to only one-shot, unsustainable change in income level.
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    Energy-Growth Nexus: A Systematic Review of Empirical Evidence and Policy Implications
    (Published by the University of Ibadan (Afropolitan Journals, Institute of African Studies), Ibadan, 2025) Musa Ilias Biala; Ololade Mistura Aromasodun; Abdul Muftah Shitu
    The relationships between energy consumption and economic growth have been extensively studied in the economic and energy literature, yet empirical findings remain inconclusive. This systematic review examines the existing theoretical and empirical research on the energy-growth nexus, analyzing studies from developed and developing economies. The review explores four primary hypotheses: the growth hypothesis (energy consumption drives economic expansion), the conservation hypothesis (economic growth influences energy demand), the feedback hypothesis (a bidirectional relationship), and the neutrality hypothesis (no causal relationship). Findings indicate that the energy-growth relationship varies across countries depending on factors such as income levels, energy mix, and methodological approaches. Developed economies tend to exhibit a shift toward energy efficiency and the conservation hypothesis, while developing economies largely support the growth hypothesis, highlighting their dependency on energy for industrialization. The increasing role of renewable energy in sustaining economic growth is also examined, with evidence suggesting that while renewable investments support long-term economic sustainability, short-term transition challenges exist. The review underscores the need for balanced energy policies, renewable energy investment, and technological innovations to ensure sustainable economic growth while minimizing environmental impact. Future research should focus on regional-specific dynamics, the role of institutional factors, and the implications of climate policies on the energy-growth relationship.
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    Energy-Growth Nexus: A Systematic Review of Empirical Evidence and Policy Implications
    (African Journal of Environmental Sciences & Renewable Energy, 2025-04-16) Ololade Mistura Aromasodun; Musa Ilias Biala; Abdul Muftah Shitu
    The relationships between energy consumption and economic growth have been extensively studied in the economic and energy literature, yet empirical findings remain inconclusive. This systematic review examines the existing theoretical and empirical research on the energy-growth nexus, analyzing studies from developed and developing economies. The review explores four primary hypotheses: the growth hypothesis (energy consumption drives economic expansion), the conservation hypothesis (economic growth influences energy demand), the feedback hypothesis (a bidirectional relationship), and the neutrality hypothesis (no causal relationship). Findings indicate that the energy-growth relationship varies across countries depending on factors such as income levels, energy mix, and methodological approaches. Developed economies tend to exhibit a shift toward energy efficiency and the conservation hypothesis, while developing economies largely support the growth hypothesis, highlighting their dependency on energy for industrialization. The increasing role of renewable energy in sustaining economic growth is also examined, with evidence suggesting that while renewable investments support long-term economic sustainability, short-term transition challenges exist. The review underscores the need for balanced energy policies, renewable energy investment, and technological innovations to ensure sustainable economic growth while minimizing environmental impact. Future research should focus on regional-specific dynamics, the role of institutional factors, and the implications of climate policies on the energy-growth relationship.
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    Environmental federalism, deposit-refund system accountability, and sustainable economic management in Nigeria
    (2019) Musa Ilias Biala
    Environmental federalism, deposit-refund system accountability, and sustainable economic management in Nigeria
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    Environmental problems of sachet water production in Nigeria
    (2018) Musa Ilias Biala
    Water sachet litter is a major environmental problem in Nigeria
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    Fiscal decentralisation and economic performance in Nigeria
    (Faculty of Management and Social Sciences, Kwara State University, 2024) Musa Ilias Biala; Abdullateef Amin
    The increasing burden on federal governments of many countries has necessitated decentralisation of social, financial and developmental responsibilities of government, which generated heated global debate as to the impact of decentralisation on the economy. Nigeria has undergone significant economic changes since gaining independence in 1960. Central to these changes has been the ongoing debate over fiscal decentralisation and its impact on the country's economic performance. This study therefore examines the impacts of fiscal decentralisation on economic performance in Nigeria, with time series data spanning a period of 42 years from 1981 to 2022. Using Autoregressive Distributed Lag model in which fiscal decentralisation was operationalised as the share of state expenditure in the total government expenditure, and economic performance as the growth rate of per-capita GDP and unemployment rate, the study finds that fiscal decentralisation had significant positive effects on unemployment and per-capita GDP. Fiscal decentralisation is, ipso facto, a significant determinant of economic performance in Nigeria. Therefore, fiscal responsibilities of the Nigerian government should be more decentralised so as to further reduce employment rate, increase per-capita income, and, by extension, enhance economic performances in Nigeria.
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    Greening through economics: Does environmental economics enhance pro-environmental behaviour
    (Published by the West University of Timisoara, Romania, 2025) Musa Ilias Biala
    Environmental economics, a subfield of economics, is one of the frameworks developed for understanding and addressing environmental issues. However, the extent to which exposure to such coursework influences students’ real-world environmental behaviour remains underexplored. This study, therefore, sought to assess whether taking an environmental economics translates into tangible pro-environmental behaviours (PEBs) among students, using Kwara State University as a case study. Drawing on Knowledge-Attitude-Behaviour Theory and using a survey-based approach, data were collected from students of economics within the university. A stratified random sample of 202 students of economics was selected—93 in parts 3 and 4 (who had taken environmental economics) and 109 in parts 1and 2 (who had not taken environmental economics). Data were collected through a structured questionnaire and analyzed using descriptive statistics, Ordinary Least Squares regression model, and multivariate logit model. The findings reveal that taking environmental economics significantly influenced PEBs and that students exposed to environmental economics engaged more in energy conservation, proper waste disposal, reusing and environmental advocacy than other PEBs. The study also found that socioeconomic factors had a moderating effect on the relationship. The study underscores the importance of integrating environmental economics into economics curricula to promote sustainability. It also highlights the need for institutional support, such as improved access to recycling facilities and campus-wide environmental campaigns, to enhance PEBs.
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    Impact of Environmental Courses on Pro-Environmental Behaviours of University Students
    (University of Ibadan (Afropolitan Journals, Institute of African Studies) Ibadan, 2025) Musa Ilias Biala; Ololade Mistura Aromasodun; Abdul Muftah Shitu
    People who take environmental courses are widely regarded as exhibiting more pro-environmental behaviours (PEBs) than those who do not. However, little or no research has established this.  This study, therefore, examines whether and how taking an environmental course determines the adoption of PEBs. This study analyses the extent to which students who take environmental courses engage in PEBs, using Kwara State University as a case study. Drawing on the framework of Knowledge-Attitude-Behaviour theory, the study investigates the relationship between taking an environmental course and adoption of PEBs. We conducted a survey of 416 students to examine this relationship. A stratified random sampling method was employed to select students from academic departments offering environmental courses and those that do not. Data were collected through a structured questionnaire and analyzed using descriptive statistics, classical linear regression model and multivariate logit regression model. This study found that exposure to environmental courses significantly influenced PEBs. Students who took environmental courses were more likely to engage in activities such as energy conservation, reusing, proper waste disposal, and recycling compared to their counterparts who did not. The implications of these findings for policy and practice in higher education are discussed, offering insights into how educational institutions can contribute to achieving global environmental sustainability goals.
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    Impact of governance and economic factors on informal employment in West Africa
    (2022) Adekoya Isiaka; Musa Ilias Biala
    Understanding the drivers of informal employment would go a long way in addressing such problems as underdevelopment, poverty, and unemployment. Therefore, this study investigates the impact of governance and economic factors on informal employment in West Africa. The governance factors considered are control of corruption, government effectiveness, quality of governance, regulatory quality, rule of law, political stability and absence of violence as well as voice and accountability, while the economic factors are income per capita, unemployment rate, tax burden, inflation rate, and household spending. The neo-liberal model is the theoretical framework underlying the study. Using panel dataset collected on 16 West African countries for the period of 2010-2020, the study estimated the fixed and random effects regressions of the model. The results show that quality of governance, unemployment rate, per capita income and urban population all had a negative impact on informal employment. Therefore, quality of governance, unemployment rate, per capita income and urban population negatively influence the proliferation of informal employment. Hence, policymakers should focus on improving the quality of governance, reducing the unemployment rate, increasing the income per capita, and controlling the urban population in order to discourage informality in West Africa.
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    Implications of Covid-19 pandemic for the attainment of Sustainable Development Goals in Nigeria
    (2022) Musa Ilias Biala
    Abstract Not Applicable
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    Information and Communications Technology and the Level of Income in Africa
    (Faculty of Economics, Commercial & Management Sciences Ziane Achour University of Djelfa, Algeria., 2022) Musa Ilias Biala; Yusuf Toyin Yusuf
    Information and communications technology has been identified as a factor that drives income, economic growth, and development. Because of this, several studies have been conducted to ascertain ICT's effects on economic growth. However, such studies failed to examine whether real per capita income influences the effect of ICT on income level and whether the effect of ICT on income level differs among regions of African countries. This study, therefore, investigated the effect of ICT on income level. Specifically, it examined whether real per capita income influences the effect of ICT on income level and whether the effect of ICT on income level differs among the sub-regions of African countries. Thus, empirical models were estimated using the panel regression analysis with fixed-effect and random-effect estimators. The results show that ICT positively affects income level in Africa, and real income per capita influences the effect of ICT on income level. In contrast, the effect of ICT on income level differs among African regions. The effect is larger in Eastern, Southern, and Northern African countries than in other regions. Therefore, authorities should consider investment in ICT as a tool or mechanism for enhancing income.
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    On the Nexus between exchange rate and stock price in Nigeria
    (2022) Musa Ilias Biala; Kudirat Oladejo
    Purpose: This paper investigates the nature and direction of the relationship between exchange rates and stock prices in Nigeria. Methodology: Autoregressive distributed Lag (ARDL) model was employed. While ARDL Bounds test was adopted to determine the short-run and long-run relationship between exchange rates and stock prices, Granger causality test was conducted to determine the direction of causality between the two variables. Time series data spanning 33 years were collected on stock prices, Nominal Exchange Rates (NER), Money Supply (MSS), and Interest Rates (INT) from the Central Bank of Nigeria (CBN) Statistical Bulletin and World Development Indicator (WDI). Findings: We provide empirical evidence that exchange rates, interest rates and the global financial crisis were negatively related to stock prices both in the short-run and long-run while the impact of money supply differs. The Granger causality test revealed a unidirectional causality running from stock prices to exchange rates in the long run. Practical implications: Nigerian authorities should adopt appropriate policies that will enhance the performance of the companies that are listed in the stock market so as to strengthen the exchange rate for Nigeria. Originality/value: The Nigerian stock market plays a significant role in the growth and development process of the Nigerian economy. Even so, the extent to which the stock market contributes to the Nigerian economic progress still depends on the behaviours of the foreign exchange rate. This has prompted researchers to investigate the relationship between stock prices and exchange rates. However, there has been lack of agreement on the nature and direction of the relationship.2022