Akinyemi A. Ajibola, Muideen A. Isiaka, Ikenna T. Nnoli and Christiana A. Abimbola
The study examined the impact of electricity supply on economic diversification in Nigeria, using time series data from 1981 to 2016. The study employed descriptive analysis and Autoregressive Distributed Lag (ARDL) techniques. The Augmented Dickey-Fuller unit root test showed that the variables are integrated of different orders.
The result from the Bounds co-integration test to show the presence of a long-run relationship among the variables was inconclusive. The short run (ARDL) model, however, indicated a positive insignificant relationship between electricity supply and economic diversification in Nigeria. The findings of the study revealed that the electricity supply had not played a fundamental role in enhancing economic diversification in Nigeria.
The study, therefore, recommended that for Nigeria to drive economic diversification through electricity supply, the government should fix the electricity supply problem which can be achieved by short-term action to reduce technical faults through maintenance of the transmission and distribution infrastructure or long-term interventions to expand generating capacity.
Nwosa Philip Ifeakachukwu and Ajibola Akinyemi Alao
This study examined the extent to which monetary policy has influenced export diversification in Nigeria for the period 1962 to 2014. The study employed descriptive and ordinary least squares techniques. The descriptive analysis revealed that the diversification exercise in Nigeria can only be expressed as average.
The regression estimate showed that monetary policy was insignificant in influencing export diversification in Nigeria. The study concluded that monetary policy has not played a fundamental role in enhancing export diversification in Nigeria. The study recommended that monetary policy should be purpose driven towards the achievement of export diversification.
This can be achieved by employing selective-sectoral monetary policy measures in accelerating investment in various non-oil sectors of the economy such as the mining, manufacturing and tourism sectors.
Olusogo Ogunleye, Akinyemi Ajibola, Oluwafemi Enilolobo and Olufolakemi Shogunle
The study investigated the effects of road transport infrastructure on agricultural sector development in Nigeria from 1985 to 2014, using secondary annual time series data on agricultural development (proxy by gross domestic product in the Agric sector) road transport infrastructure (proxy by length of paved road per square kilometer of area) export and capital, all obtained from the Central Bank of Nigeria (CBN) , and National Bureau of Statistics (NBS) , statistical bulletins. The data were analyzed using Granger Causality test and Ordinary Least Square estimation techniques. The study concluded that a positive and statistically significant relationship exists between road transport infrastructures (LRT) also evidence was found of a unidirectional causality from agricultural sector development to transport infrastructure. The study, therefore, recommends that adequate and timely maintenance of existing roads should be carried out as well as enacting appropriate regulations that ensure proper implementation and completion of new road construction contracts in the country in order to boost agricultural sector development, reduce wastage of farm produce and increase the possibility of economic diversification.