Department of Economics

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Trade Liberalization and Economic Growth in Nigeria; A cointegration Analysis
(2013) Olaifa, Felix Gbenga; Kolawole Subair; Musa Ilias Biala
Trade liberalization is one of the most controversial policies in international economics and finance. Copious of arguments have been put forward about if free trade and reduction of trade barriers will help the economy or not. Those in favour of the policy believe that it can stimulate economic growth of African economies while others maintained that trade liberalization may not provide positive contribution to long run growth of African economies. This study adopts the ordinary least squares in estimating the influence of trade liberalization on economic growth in Nigeria between1970 and 2012 with a view to examining whether a long term relationship exists between the two and also to check for structural change that may have occurred with the implementation of a free trade regime in 1986.Trade liberalization was conceived as openness and proxied as the ratio of total trade to GDP. Time series data sourced from the World Development indicator (WDI) of the World Bank and the Central Bank of Nigeria (CBN) statistical bulletin and annual reports were analysed. Result shows that liberalization supports economic growth in Nigeria with an evidence of a long run relationship. Strong evidence was found to support a structural change taking place in 1986 with the adoption of free trade policy. However export was reported to be negatively related to growth. The study concluded by recommending that an enabling environment that will engender further growth such as better infrastructural base, adequate financing support adherence to international best practice in export and sound institutional structure be put in place for sustainability. KEYWORDS Openness, trade liberalization, economic growth and structural change.
Enquiring into the Sustainability of Nigerian Economy: A Time series Analysis
(Market Forces, 2014-12) Mufutau Ayinla Abdul-yakeen; Kola Subair; Felix Gbenga Olaifa
The study obtains time-series data of three independent variables (Public Expenditure, Debt, and Reserve) and a dependent variable (Gross National Product) between 1971 and 2011 in Nigeria with the aim of verifying the sustainability of the economy. Following Keynesian Model, it formulates hypotheses, estimates parameters, and uses Augmented Dickey-Fuller test to test their significance by using E-View 7. It discovers that Nigerian economy is solvent and sustainable with positive relationship between Public Income, Expenditure and Reserve but negative relationship between the Public Income and Public Debt. It recommends increase and judicious use of external debts and appreciates internalization of public reserves by disbursement of some of the proceeds to the Traditional Financial Institution (TFI) to attain the desired economic objectives of Nigeria. Despite its applicability, desirability and productivity; the surmountable limitations of its recommendation are fear of corruption and marginalization among others. Key Words: Assets, Nigeria, Solvency, Sustainability, Traditional Financial System.
What are the Drivers of Human Capital Development in Nigeria
(Journal of Sustainable Development in Africa, 2018) Ebenezer Adesoji Olubiyi; Musa I Biala; Felix Gbenga Olaifa
Human development is worrisomely weak in Nigeria despite several efforts by the government to improve it. Specifically, about half of the citizens still live under $1.9 a day. Consequently, the World Bank ranked Nigeria low among human development countries in 2016. This study employs Sen’s capability approach to investigate the drivers of human development. To gain a deeper understanding of how human development is influenced by its drivers, the components of human development—education, health and income indexes—are modelled and estimated using data covering 1990 to 2016. Results from the autoregressive distributed lag (ARDL) method show that human development is affected, albeit differently, by these drivers both in the short run and in the long run. Specifically, funds from international donors and remittances show evidence of “fungibility” while control of corruption is good for human welfare. Immunization against measles raises health status but much still need to be done in this area. Carbon emission is detrimental to human development and so, it is recommended that this should be addressed with effective rules of law. Keywords: Human Development, Education Index, Health Index, Income Index, Autoregressive Distributed Lag
Are the Determinants of Imports Similar Across Manufactured Products? Evidence from Nigeria
(Journal of Economics, Management and Trade, 2018-12) Ebenezer Adesoji Olubiyi; Felix Gbenga Olaifa; Rashidat Sumbola Akande
The study investigates the determinants of selected manufactured imports in Nigeria with a special focus on the role of domestic production. The autoregressive distributed lag (ARDL) in the context of new trade theory was utilised with data coverage between 1985 and 2016. Results show that imports of various manufactured products are affected differently by some factors. In particular, domestic output of electrical & electronics have a significant and negative effect on own imports. However, there was no significant effect of domestic production of petroleum products on imports of the same goods. Also, the effect of domestic output of food & beverages on imports of same product is positive. Further, the sensitivity of imports to exchange rate changes differ across products, in some it have immediate effect while in some it delays for a year. In the same vein, while GDP is an important driver of imports of some products, it is unimportant for some. Also, it is only food & beverages imports that significantly respond to change in tariffs. The overall conclusion from this study is that drivers of import demand differ across products.
Government Capital Expenditure and Private Investment In Nigeria: Co-integration Regression and Toda-Yamamoto Causality Analysis.
(Advanced Journal of Social Science, 2019-07-19) Felix Gbenga Olaifa; Oluwasegun Olawale Benjamin
This paper analyzed the relationship between government capital expenditure and private investment in Nigeria using time series data spanning from 1981 to 2016. Government capital expenditure was disaggregated into different components and ADF unit root test was employed to establish the stationarity properties of the variables in the model. The result of Johanson co-integration test revealed that the variables have long run relationship. Co-integration regression results suggested that capital expenditure on physical assets and defense displaced private sector investment while government capital expenditure on human capital and public debt servicing promote private sector investment in Nigeria. The results of T-Y causality revealed the bidirectional causality between private sector investment and government capital expenditure in Nigeria. Based on these findings, the paper recommends that government capital expenditure should be channel to human capital in order to promote private sector investment in Nigeria. In addition, the Nigerian government should pay more attention to capital expenditure on physical assets since it has a significant impact on private sector investment. Lastly, Nigeria government should address the issue of budget delay, corruption, and mismanagement in Nigerian institutions. Keywords: Government Capital Expenditure, Infrastructure, Defense and Internal Security, Human Capital and Private Sector Investment.
Determinants of Intra Sub-Saharan African Trade: Evidence from ECOWAS and CENSAD countries
(Pakistan Journal of Humanities and Social Sciences, 2020) Felix Gbenga Olaifa; Sodiq O. Jimoh
This study investigates the determinants of intra-regional trade in the Economic of West African States (ECOWAS) and the Community of Sahel-Saharan Sates (CEN-SAD) over the period of 1995-2018.The study employs the modified Poisson models, which captures the source of zero counts. Data on the real exchange rate, population, and gross domestic product were sourced from World Bank Development Indicators. Import flow, time of import, and time of export were computed from WITS (COMTRADE). Further, the study obtained data on voice and account, law and order, government effect, regulatory quality, reduction in political violence, control of corruption from World Wide Governance indicator. The results of the study indicated that imports within ECOWAS are driven by one governance variable or the other either in the importing countries or the partner countries. Besides, trade facilitation is a binding constraint to imports, while population and GDP are important drivers of intra-ECOWAS trade. For CEN-SAD, it is evident that the gravity variables are responsible for imports, whereas governance variables have no significant effect on imports. The implication of these results is that authorities in ECOWAS and CEN-SAD should strengthen governance institutions as doing so will boost trade within the region. Also, it is necessary for government, particularly in CEN-SAD, to come up with policies that will allow for accountability and transparency.
CAPABILITY INDEX OF NON-GOVERNMENTAL ORGANIZATIONS IN THE SMALL SCALE SHEA INDUSTRY IN THE NORTHERN REGION OF GHANA
(Department of Social Work and Community Development, University of Benin, Edo State, Nigeria, 2021-01-21) Fatai Akosile
There is proliferation of NGOs especially in the Northern Region of Ghana now regarded as the NGO capital of Ghana. This study therefore assessed the capabilities of NGOs operating in the Shea industry in the Northern Region of Ghana with respect to their internal management structures. The study is significant for community development as it highlights the importance of NGOs with required capabilities to reduce poverty among small scale Shea butter processors. The population of this study consists of all 30 NGOs registered with Shea Network Ghana and the census method was adopted because of the number. Questionnaire as the main instrument of the study was face and content validated by experts in community development and reliability tests were conducted using the Cronbach alpha formula. The study used mainly descriptive statistics such as the mean, range, and mode for data analysis. The study found the NGOs in the Shea industry in the Northern Region to have above average capability in terms of their human, physical, and financial resources. The study recommends inter alia that NGOs continue to recruit highly qualified personnel and maintain adequate quantity and quality physical resources to enable them contribute meaningfully to poverty reduction and community development in their areas of operations.
Exchange Rate Volatility Effect of Covid-19 Pandemic: The Nigeria case
(Department of Economics, University of Lagos, 2022-03) Felix Gbenga Olaifa; Oluwatosin J. Oyetayo; Ebenezer Adesoji Olubiyi
The debate on the impacts of Covid -19 pandemic on exchange rate and its volatility is up and running. This study examines the case of Nigeria. Daily data from March 20, 2020 to September 3, 2021 for relevant variables were utilized. The bounds test for cointegration and autoregressive distributed lag (ARDL) and GARCH (1,1) methods were employed to examine the effect. The bounds co-integration test results disclosed that there is both short-run and long-run relationship among the variables. The result from the ARDL estimation shows that new Covid-19 cases has a positive but insignificant effect on parallel market exchange rate while numbers of recovered patients from covid-19, oil and stock prices negatively and significantly affects parallel market exchange rate. Results from the GARCH also indicates that new Covid-19 cases have negative, albeit, insignificant effect on the parallel market exchange rate volatility while recovered cases of Covid-19 has negative and significant effect. Further, oil and stock prices have positive and significant effect on parallel market exchange rate volatility. Following these results, it was recommended that government should embark on policy that will diversify its revenue base and also intensify efforts on preventing any forms of pandemic so as not only to achieve the objective of increasing the value of Nigeria currency but also to reduce its volatility. Keywords: Pandemics, Foreign exchange, Autoregressive Distributed lag (ARDL), Generalized Autoregressive Conditional Heteroscedasticity (GARCH) Model
Determinants of FDI inflows to West Africa: Prospects for regional development and globalization
(BRICS JOURNAL OF ECONOMICS, 2022-05-22) Aromasodun, Ololade Mistura
This paper examines the determinants of foreign direct investment (FDI) inflow into West Africa. FDI is regarded as the central engine for growth. Such inflows are not often satisfactory, both in terms of their volume and in terms of their sectoral distribution, particularly in developing countries. The study carried out a unit root test using the Im-Pesaran-shin (IPS) method, which revealed that four out of many variables were stationary at first difference, while other variables were stationary at level. Consequently, the Kao co-integration test methodology was used to analyze the long-run relationship. Thus, the regression analysis was carried out using the Panel ARDL method in an equation with a 50-year observation period. Concerning the remaining seven equations with shorter time series observations, the Pooled OLS estimation method was used to analyze the factors determining the inflow of FDI. The results indicate that financial development has a negative effect on FDI flows (and hence on globalization processes) in West Africa, while trade openness, institutional composite index and control of corruption have positive effects on FDI and hence increase globalization tendency. Based on these findings, the study recommends, among other things, that the authorities in West African countries vigorously pursue trade liberalization policy as an effort to globalize the region through FDI inflows. The study examined the macroeconomic determinants on FDI alongside institutional and socio-political determinants that are difficult to study in the case of West Africa as a region. The use of a composite institutional quality index, which combines multiple indicators of institutional quality, is another novelty of this research. Another unique contribution of the study is the use of the Africa Infrastructure Development Index (AIDI), which serves as a composite infrastructure index, as an explanatory variable.
Determinants of Welfare Effect of Trade Flows in sub-Saharan Africa: Empirical Evidence from SADC and COMESA
(Public Administration & Regional Studies, 2023) Olaifa, Felix Gbenga; Oluwasegun Olawale Benjamin; Ebenezer Adesoji Olubiyi
This study investigated the determinants and welfare effects of intra-Sub Saharan Africa trade from 1996 to 2021. The study utilized Negative Binomial Pseudo Maximum Likelihood for the analysis. The study's findings revealed that Gross Domestic Product (GDP), population, distance, time taken for import, bilateral real exchange rate, voice and accountability, law and order, and government effectiveness are the key determinants of trade flows in SADC. Furthermore, the results indicated that GDP, population, distance, common official language, landlocked of both countries, time taken for import procedures to be completed, bilateral real exchange rate, reduction in political instability and absence of violence, and regulatory quality determined trade flows in COMESA. The study also found that intra-regional trade leads to welfare reduction for SADC member countries and a welfare-enhancing situation for COMESA. Thus, the study recommended that policymakers give transportation facilities the required attention to reduce trade barriers. Also, the policymakers in SADC should introduce policies and incentives that will encourage members to import from other members of the bloc. Finally, policies towards making the governance institutions and security apparatus viable should be implemented to promote trade and enhance welfare in SADC and COMESA. Keywords: trade flow; welfare; sub-saharan African; sadc; comesa; NBPML
On the Economic Growth Effect of Population: Evidence from World most and least Populous countries
(Acta Universitatis Danubius, 2023) Ebenezer Adesoji Olubiyi; Felix Gbenga Olaifa; Boluwatife Amusan
Abstract: This study assesses the importance of population growth in economic growth in the six most populous and six least populous countries in the world for data spanning 1985 to 2022. Results from the panel autoregressive distributed lag indicate that population has no significant effect on economic growth in the short run in any of the country groups but it shows positive relationship. Population enhances economic growth more in the most populous countries than in the least populous countries in the long run. In addition, population is persistent in impacting economic growth of the most populous countries. Decrease in unemployment rate enhances economic growth rate more in the least populous countries than in the most populous countries. Human capital development is also important for economic growth and more pronounced in the least populous countries. Following these results, it is concluded that population matters importantly for economic growth and that the most populous country is more likely to experience higher economic growth than the least populous country. The study recommends that that a carefully planned population growth strategy will be beneficial to both country groups. In the most populous countries, plans that will allow for more inflow of peoples should be looked forward into because most of these countries are embarking on birth control in order to reduce population. It is also recommended that the least populous countries should ensure that a considerable size of the population translates to human capital. Keywords: Economic activity; demography; Panel ARDL; human capital; country group
Assessment of the Impact of Globalization on Economic Growth in Nigeria, 1988 - 2022
(Gusau Journal of Economics and Development Studies, 2023) Halimat Sadiat Ajayi; Sheriff Alade Bamidele; Felix Gbenga Olaifa; Mufutau Ayinla Abdul-Yakeen; Mubarak Tahir Abubakar
The idea that globalization is one of the most important drivers of economic growth has gained wide acceptance in recent times. The study empirically assesses the effects globalization on economic growth of Nigeria. Specifically, the study identifies how globalization affects the progress of the Nigeria economy.The study empirically investigates if there is a short-runand long run relationship between economic globalization and economic growth in Nigeria. The study examined the extent at which social and political globalization affect Nigeria economic growth.The study employed Autoregressive Distributed Lags (ARDL) models to examine the relationship between general globalization, economic globalization, social globalization, political globalization and economic growth in Nigeria. The study made use of annual data series dating from1988 to 2022 sourced from World Development Indicators (WDI), the database of World Bank and of Swiss Economic Institute data base. The study reveals that general globalization, economic globalization, social globalization and political globalization have a significant positive effect on economic growth in Nigeria.The study therefore recommends that, for Nigeria to catch high levels of growth levels, Nigeria should endeavor to improve on the institutional quality and good governance in Nigeria.When this is in place, further economic and social integration from foreign countries will be enhanced and economic development will be achieved. Also, Nigeria government should widen its market through either improved export of commodities and services as well as import of machines and production inputs.Further integration of the Nigerian economy with other economies through a productive capacity should be a focus of policy by the Nigerian government and policy markers. Keywords : Economic, social, political globalization , economic growth
Estimating the Determinants of Food Inflation in Nigeria
(Deapartment of Public Administration, University of Ilorin, Nigeria, 2023-06-08) Fatai Akosile
This study investigates the determinants of food inflation in Nigeria, with a specific focus the impact of interest rates, exchange rates, and crude oil prices. Utilizing an Autoregressive Distributed Lag (ARDL) model, the research captures both immediate and lagged effects of these macroeconomic variables on the food inflation rate from 1991 to 2023. The results reveal that interest rates have a significant negative impact on food inflation, indicating that higher interest rates tend to reduce inflation by curbing consumer spending and investment. The exchange rate demonstrates a mixed impact: while a weaker Naira initially raises food prices, the long-term effect shows a significant reduction in inflation, suggesting economic adjustments over time. Crude oil price was also found to have a positive and significant impact on food inflation rate in Nigeria. These findings underscore the need for a comprehensive approach to macroeconomic policy, integrating interest rate adjustments, exchange rate stabilization, and measures to mitigate the impact of crude oil price fluctuations. The study provides empirical evidence to guide policymakers in formulating strategies to achieve price stability, economic growth, and sustainable development in Nigeria, emphasizing the critical role of coordinated policy interventions in managing food inflation
DETERMINANTS OF AGRICULTURAL OUTPUT IN NIGERIA
(Al-Hikmah Journal of Arts & Social Sciences Education, 2023-12) Yusuf Toyin Yusuf
Agriculture is seen as an important source of food for man and raw materials for agro-based industries. So as to provide bases for policies aimed at promoting agriculture, various empirical studies have been conducted with a view to identifying the determinants of agricultural production and output of the agricultural sector in Nigeria. But such studies still leave some gaps to be filled, including failure to test the the influence of government expenditure spent on agriculture (GEA) on the effect of agricultural capital stock on agricultural output. Data from the World Development Indicators, Food and Agriculture Organization and International Labour Organization were used for the estimation. The study aims to fill these gaps by adopting Cobb-Douglas production function, and we estimated two categories of equations. The study employed fully modified least squares (FMOLS) in estimating the agricultural output equations. The study found that government expenditure on agriculture (GEA), fertilizer consumption, financial development and trade openness has positive effect on agricultural output in Nigeria. Based on these findings, therefore, policy makers should target policies on inducing GEA, financial development and trade openness in order to achieve increase in agricultural output.
Natural Resource Endowment and Economic Growth; Evidence from some selected sub-Saharan African countries
(Malete Journal of Accounting and Finance, 2023-12) Felix Gbenga Olaifa; Ebenezer Adesoji Olubiyi; Oluwasegun Olawale Benjamin; Philip Olugbenga Adebayo
Sub-Saharan African (SSA) countries are on average blessed with relatively large number of natural resources when compared with other regions of the world. Despite this obvious natural resource endowment, economic growth on the sub-region has not been encouraging. This scenario has prompted studies geared towards examining the extent to which natural resource endowment has impacted on growth in resource rich Sub-Saharan African countries. The objective of this study is therefore to investigate the nexus between ownership of natural resources by some selected SSA countries and their performance in terms of growth. Seven countries in SSA were selected including, Cameroon, Cote d’Ivoire, Gambia, Ghana, Kenya, Nigeria, and South Africa. Data on economic growth, arable land, forest land rent, tertiary education enrolment, and labour force growth obtained from World Development Indictors of the World Bank were used. Using the Pedroni Panel cointegration estimation, result showed that overall, natural resource endowment does not translate to growth as is expected. Hence it is concluded that ownership of natural resources does not translate to growth in SSA. Although high rent on these resources increases government revenue in the immediate, the disincentive it creates to investors and cultivators of these resources in the long run should be the uppermost consideration The study therefore recommends that while authorities are formulating and implementing policies as regards rent on natural resources, they should carefully bear in mind the possible long-run implications on growth. Keywords: Natural resource, Economic growth, Sub-Saharan Africa, Endowment, Pedroni Panel cointegration.
Analysis of Trade Effects of Parallel Exchange Rate in Nigeria
(Asian Journal of Economics, Business and Accounting, 2024) Oluwatosin Juliana Oyetayo; Felix Gbenga Olaifa; Ebenezer Adesoji Olubiyi
The study examines the potency of parallel exchange rates in the movement of international trade in Nigeria. The monetary authorities have embarked on various exchange rate regimes basically because the supply of foreign exchange is not enough to meet the demand. Consequently, a parallel market for exchange rates exists and has become a strong and functional market in the country. But the reason for managing foreign exchange and by extension, introducing various exchange rate regimes was to correct the balance of trade disequilibrium. Yet the balance of trade deteriorates, particularly that of non-oil trade balance. Does the parallel exchange rate contribute to this or does it ameliorate it?
IMPACT OF EXCHANGE RATE ON DOMESTIC CREDIT: EVIDENCE FROM NIGERIA
(Faculty of Management and Social Sciences, Kwara State University, Malete, Nigeria, 2024-05-23) Yusuf Toyin Yusuf; Sodiq Olaiwola Jimoh; Felix Gbenga Olaifa; Fatai Akosile
This study investigates the relationship between exchange rate fluctuations and domestic credit dynamics in Nigeria. Employing non-linear autoregressive distributed lag (NARDL) and linear autoregressive distributed lag (ARDL) models, this research explores the effects of Real Effective Exchange Rate (RER) on Domestic Credit (DOD) over a significant period. The findings of the non-linear ARDL analysis reveal a notable positive short-run effect of RER on DOD. Specifically, the depreciation of the naira appears to discourage market participants from assuming higher risks, resulting in a decrease in credit volumes. Conversely, an appreciation of the naira encourages market participants to take greater risks, leading toan improvement in credit volumes. However, the linear ARDL analysis demonstrates a contrasting negative effect of RER on DOD. In the context of the linear ARDL results, the appreciation of the naira seemingly discourages market participants from taking increased risks, consequently causing a deterioration in credit volumes. Based on the findings, a key policy recommendation emerges. Policymakers are advised to consider devaluing the naira to dissuade market participants from assuming higher risks, thereby potentially reducing credit volumes in the short run. This recommendation aims to address the observed dynamics between exchange rate movements and credit volumes, offering a strategic approach to influence market behaviors and credit outcomes in Nigeria's economic landscape.
Determination of Comparative Advantage of Different Lines of Industrial Production for Export: Evidence from African Countries
(Department of Economics and Development Studies, Faculty of Social Sciences, Federal University Dutsin-Ma, Katsina State, 2024-06-13) Yusuf Toyin Yusuf; Fatai Akosile
There is no gain saying in the crucial importance of high and sustainable economic growth, particularly in African countries. So also is the importance of countries using trade as an engine of growth, which is to be facilitated by identifying the possible lines of production for export market where the comparative advantage lies for the purpose of allocating a country’s resources accordingly. This informs the objective of the study which is to determine the comparative advantage of different lines of industrial production for export in Africa. To achieve this objective, the study’s theoretical background rests on the neo-classical theory-based growth accounting framework and Thirlwall’s (1979) theory on the role of industrial exports. Based on this, the study specified two panel economic growth equations and they are estimated with fixed effect (FE) estimation technique. The study therefore found that the greatest comparative advantage of African countries lies in the production of non-industrial goods (NIX) for export, followed by production for exports of non-manufacturing industrial goods (NMIX) while the country has neither a comparative advantage nor a comparative disadvantage in the production of manufactured goods (MX) for export. Based on these findings, policymakers should pursue a strategy aimed at improving the production of non-industrial goods for export in preference to production of non-manufacturing industrial goods for export and refrain from manufacturing in production for export market in order to promote economic growth in the short run and switch their policies in the long run, to focus on how to have comparative advantage in manufacturing by removing those obstacles that presently militate against the current lack of comparative advantage that is observed in the study, that could have contributed to the present lack of comparative advantage.
ENTREPRENEURIAL SKILLS ACQUISITION AND EMPLOYMENT GENERATION IN KWARA STATE
(NTERNATIONAL JOURNAL OF ADVANCED RESEARCH IN MULTIDISCIPLINARY STUDIES (IJARMS), 2024-06-17) Abdulazeez Alhaji Salau, Aminu Nassir Brimah, Kamoru Lanre Akanbi, Ibraheem Shola Adegbemile
The acquisition of skills has demonstrably ascended to the forefront of societal priorities due to its undeniable impact on advancing socioeconomic well-being. In terms of the economy, gaining new skills revitalizes markets and creates new opportunities for unemployed graduates and young individuals. Youth unemployment remains an ongoing problem in Nigeria, posing significant challenges for the nation. Addressing this issue and finding viable solutions has become increasingly urgent.The qualitative study conducted in Kwara State explored entrepreneurial skills acquisition and employment generation among alumni of IVTEC AjaseIpo. Through face-to-face interviews with 12 alumni, the study focused on skills acquired, methods of skills acquisition, and employment through entrepreneurial endeavors. Findings revealed a synthesis of technical skills, entrepreneurial skills, ICT competencies, soft skills, and adaptability/resilience among participants. These skills were acquired through hands-on training, real-world projects, industry internships, interactive learning, mentorship, and extracurricular activities. Participants leveraged their skills to establish successful entrepreneurial ventures, contributing to job creation and economic development in the region. The study underscores the importance of holistic skill development and entrepreneurship education in preparing individuals for the workforce and fostering sustainable economic growth. Recommendations include prioritizing practical entrepreneurship education in educational curricula, establishing entrepreneurship centers, facilitating industry internships, raising awareness about skill acquisition and entrepreneurship, and providing ongoing support for entrepreneurs. Implementing these recommendations can create an enabling environment for skills acquisition, entrepreneurship, and employment generation, driving economic prosperity in Kwara State.
“Estimating Rural Farming Communities’ Willingness-to-Pay for Health Insurance Programme of Children under Five Years
(Faculty of Management and Social Sciences, Kwara State University, Malete, Nigeria, 2024-07-28) Shehu Usman Adam; Haruna Mohammed; Fatai Akosile
The death rate of children under-five from preventable and treatable diseases is said to be disproportionately high in rural agrarian communities. Meanwhile, health insurance is not accessible to such rural population, increasing out-of-pocket medical expenses in such communities. Surprisingly, the literature remains sparse on getting alternative ways for such communities to finance their health expenditure. This paper examines the rural households’ willingness-to-pay for health programme of children under five years old in Gujba local government. Data were analysed using contingent valuation method and the result shows that 60% of the households spent less than ₦1,600 per month in medical expenditure on their children. Meanwhile, sizeable number of the farming households (45.2%) earned an annual farm income of ₦800,000 - ₦1,000,000. The analysis shows that the respondents are willing to pay ₦8,438 for health progamme to ensure their children have access to health programme. The study also found that the offered insurance premium, income, service satisfaction and numbers of under five children in the household have significant effect on willingness-to-pay (WTP) while marital status, gender, age and education had no statistically significant effect on the WTP. The study concludes that having health programme for children in Gujba local government area of Yobe State is feasible since rural farming communities are willing to pay positive price (insurance premium) if the service is made available.

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