Faculty of Social Sciences

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Achieving Vision 20: 2020: The Role of the Nigerian Capital Market
(IOSR Journal of Economics and Finance (IOSR-JEF), 2014-04) Oke, M. A.
This study examined the role of the Nigerian Capital Market in achieving the vision 20: 2020 in Nigeria. However, the main aim of vision 20:2020 is to improve the standard of living of the average Nigerian. Applying co-integration and error correction modeling to stock market performance and per capital income time series data, this study has helped in highlighting the specific roles of major indicators of the capital market, which are relevant in testing the stock market-economic growth nexus. The findings indicate the separate roles played by the primary capital market and the secondary capital market in the growth of the Nigerian economy are capable of achieving vision 20:2020. By and large, the evidence from this study revealed that while activities in the secondary capital market tend to grow the Nigerian economy through its wealth effect that of the primary market ironically did not
The administration of FADAMA and agricultural sector performance in Nigeria
(Elixir, 2013-07-27) Omonona, B. T.; Oke, M. A.
Agriculture was the mainstay of the Nigerian economy before the discovery of oil in commercial quantity in the late 1960s to early 1970s. The sector provides employment opportunity for a larger portion of the nation’s population. So also is the provision of raw materials for most industries and provision of food for the nation. With the discovery of oil in the country, the sector has been witnessing decline in terms of performance. This has prompted the government in the early 1990s to establish fadama among many other measures aim at alleviating the problem facing agriculture. This study therefore examines the impact of fadama administration on the performance of agricultural sector in Nigeria. The study adopted qualitative analysis by comparing agricultural sector’s performance pre and post fadama establishment. The findings show mixed fortune in the performance of the sector. Whereas the total agricultural production has been on the increase, it has not been enough to meet the domestic consumption as the nation still import some agricultural products especially food items. Also the contribution of the sector to GDP is declining much as labour mobility from the sector to more lucrative sector is becoming rampant. The study therefore concludes that more funding be allocated to fadama in particular and the entire sector in general so as to address the problems detected by the findings.
Appraisal of Change in Investors’ Behaviour During and After the Speculative Bubbles and Crashes of the Nigerian Capital Market
(Journal of Business and Organizational Development, 2013) Oke, M. A.
The high appraisal of the aggregate market in respect to high price earnings ratio and high asset prices experienced in the equity and asset markets in the end of 1990s and the imminent fall 2008 ascribed to the speculative bubble crash and consistent with investors’ irrational behaviour, wrong human judgement of the 2008 market decline due to bad credit lending. It is against this background, that the study appraises how both active private and institutional investors’ are influenced by these biases and what influences them to change their investment portfolio during and after the speculative bubble and crash of 1998 to 2009. The use of questionnaires was adopted and directed to both institutional and private investors to get an understanding of what their trading pattern was like; and looks at the behavioural bias that influenced their method of stock picking in the past. The result obtained during the analysis shows that market participants during the speculative bubble and decline of the market are irrational in their decision and this change the composition of the market. During the high valuation in equity price of companies, behavioural factors influenced investors’ decision. This result shows that the fundamental value of a company did not affect market overvaluation. The media also played an important role in disseminating information to both investors. Media proved to be most effective in determining the fundamental valuation of assets today when personal intuition has a great impact on investment decision. The overconfidence bias also influences the decision of investors’ greatly during the speculative bubble this explains the self-attribution and hindsight bias in investors. The fact that most investors’ consider the market overvalued shows the manifestation of this bias. This supports the EMH theory that investors’ think that they can predict and outperform the market. Conclusively, the common knowledge of the factors underlying the speculative bubble before its imminent burst and the way psychological factors influences our decisionmaking should stand as a guide against a reoccurrence of this phenomenon and improve the efficiency of today’s reviving financial market.
APPRAISING INDIA’S ROLE IN UNITED NATIONS PEACE KEEPING OPERATION IN AFRICA: THE CASE OF SOUTH SUDAN
(Assumption University-eJournal of Interdisciplinary Research (AU-eJIR), 2017) Omede, Jolade; Ngwube, Arinze; Aluko, Opeyemi Idowu
India has long invested in promoting goodwill among African states by participating in United Nations Peace keeping operations. India is the third largest contributor of personnel to UN peacekeeping operations and has contributed to various missions across the world including in Somalia, Mozambique, Angola, Sierra Leone, and more recently, the Democratic Republic of Congo and South Sudan. As part of a broader push to build stronger ties to African countries, India has redoubled its commitment to peacekeeping efforts over the past decade, and in the views of many in the UN peacekeeping system, the capacity of Indian peacekeepers makes them essential to any peacekeeping effort on the continent. India also possess the capacity to provide well trained troops who are accustomed to operating in a diverse array of terrain. In addition, the paper will assess India’s strategy of using peacekeeping as a tool of foreign policy. This paper will assess the role of India in the South Sudan Crisis. The paper’s source of data will be essentially secondary involving books, journals; articles on the subject matter under review.
BACKDOOR POLITICS: PERMITTING INFORMALITY FOR FORMAL DEVELOPMENT IN AFRICAN DEMOCRACIES
(2020) Aluko, Opeyemi Idowu
The backdoor politics is a general term behind the study of effective and responsible public policy from the perspective of informal political processes. The study analyses informal input determinants that affect responsible public politics. The methodology utilises data from the Afrobarometer database, assessing three countries in Africa, from the east, west and southern parts – Kenya, Nigeria and South Africa, respectively. The starting point of this methodology is that policy is responsible and effective if it integrates formal and informal decision-making processes and decision implementation
BENUE VALLEY JOURNAL OF HERDER-FARMER CRISIS
(Catholic Diocese of Makurdi Foundation for Justice, Development and Peace (FJDP), 2020-04) Aluko, Opeyemi Idowu
Violence has the chance of escalating whenever the parties involved attain extreme ideologies and have access to weapons. Several crises in the world started with unabated localised violence.This violence becomes sustained when political powers are used against one group as opposed to other groups. The violence can take a new turn of sustenance whenever religion and ethnic cognitions and colorations are given to the crises. This study focuses on the theoretical construct of radicalisation of pastoralists and farmers in sustained violence in Nigeria. The variables of access to weapons, political power, economic interest, religious bigotry and ethnic chauvinism are related together to see how violence becomes radicalised using the violence between pastoralists and farmers in Nigeria as a case study. The game theory and tyre burning
Billet Democracy and Urban Violence in Nigeria
(Political Science Review, 2016) Aremu, Fatai A.; Aluko, Opeyemi I.
Democracy by all standards is meant to make every man's voice heard and attended to by the various state administrators. But in recent times, the opposite is the.case of most scenarios in most part of the world. No doubt, there are several vanants of democracies as there are various nations. Still democracy is a political platform of popular interaction among nations in which issues are resolved in an amicable manner. When democracy turns bad, the extreme form of anarchy as well as lawlessness is inevitable which are symptoms of urban violence in any developed or developing country. This paper considers questions of the level of relevance of democracy in Nigeria, to what extent is it acceptable among the citizens and the resultant effect of violence on the polity. The methodology adopted is the simple purposive random survey of perceptions across the country using afro barometer database. The analysis of findings shows that democracy is fairly satisfying but still the most preferred among other system of governance by Nigerians. Conclusion is premised on good governance and legitimate use of force in resolving civic issues so as to sustain the democratic regime.
BREAKING THE CYCLE OF CORRUPTION IN NIGERIA: THE MYTH AND REALITY
(Journal of Co-operative and Business Studies (JCBS), 2020) Opeyemi Idowu, Aluko,
Corruption is been the restriction to legitimacy, democratic stability, socio-economic and political development in Africa and indeed in Nigeria. Several political regimes had contributed to the spread of corruption and its various manifestations in Nigeria. In curbing the menace, several institutional mechanisms were invented by various governments. These instrumentalities have their impacts in Nigeria but there is yet more to be done. Therefore, how can Nigeria be free from wide spread corruption? Prebendal theory is used to explain the trend of corruption in Nigeria. The methodology utilises afrobarometer data to show the reality and the way forward from the menace. The paper concludes that the war against corruption can be successfully fought from both the public (prosecution) and private (psyche) realms.
Commercial Banking and Emerging Economies: Evidence from Nigeria
(Universal Journal of Management and Social Sciences, 2015-06) Oke, M. A.; Babalola, Adeyemi
Economic development is about enhancing the productive capacity of an economy, by using available resources to reduce risks, remove impediments which otherwise could lower costs and hinder investment. Invariably, the role of finance in economic development is often, widely, acknowledged in literature. It has been argued that financial intermediation through the banking system played a pivotal role in economic development by affecting the allocation of savings, thereby, improving productivity, technical change and the rate of economic growth. The main thrust of this paper was to examine whether there is any significant association among commercial banking institutions and the Nigerian economy. It was also set out to investigate whether commercial banks play any pivotal role in the smooth running of the financial and commercial operations of other sectors in the economy as well as establishing whether commercial banks have contributed to the growth and development of the Nigerian economy. Survey design method through the administration of structured questionnaires was employed and the techniques of data analysis adopted were analysis of variance, t-test statistic and chi-square statistics. The study found a significant association among the banking institutions and the economy and that banks have contributed relatively to the growth and development of the Nigerian economy.
Corporate Governance and Firm Performance: Case of Selected Oil Companies in Nigeria
(IOSR Journal of Economics and Finance (IOSR-JEF), 2020-04) Oke, M. A.; Ilemobayo, O. O.; Yusuf, S. A.
Background: Separating ownership from managerial control in publicly traded firms made corporate governance a matter of necessity, due to the possibility of principal agent problem. Mostly, managers protect their own self-interest without regard for shareholders’ returns on investment, this often lead to agency conflict andconsequent loss. Previous studies have focused mainly on manufacturing andbanking sector, however, paucity of information exists in areas of oil firms over the years. Hence, effect of corporate governance on performance of listed oil companies in Nigeria from 2009 to 2018 were investigated. Methodology: Secondary data sourced from Nigeria stock exchange covering 2009 to 2018 were used to examine effect of corporate governance on performance of six oil companies in Nigeria. Data collected include; board size, executive directors’ number, non-executive directors’ number, audit committees’ number, net annual income, shareholders’ equity, net profit/margin, assets for the period, while board composition, return on assets and equity were generated. Data collected were analysedusing Cross Sessional Random Effects Model (REM) of regression analysis. Results: Unit root test indicated that all variables were stationary at level. Audit committee (0.803277), (4.363851) exhibited a positive relationship with firms’ performance,though insignificant, while board composition (-2.647377)(-2.647377) and board size (-0.546097) (-2.948961) had an inverse relationship, though significant with ROE and ROA. All the variables jointly influence firms’ performance positively with R2(0.587999,0.597182) and adjusted R2 (0.544499,0.584174)value, respectively. Conclusion: Audit committees enhances firms’ performance, all variables jointly improve firms’ performance. Measures should be put in place to increase audit committees independence and the extent to which they disclose corporate governance information.
The Deficit of Human Security in Nigeria: The Youth Perspective
(2022) Agboola, Taiwo Grace
Although the definition of human security is a topic of much debate, its initial use was most frequently cited in the 1994 Human Development Report (UNDP) with the emphasis on human security, UNDP has expanded the concept of security by defining human security as "protection from chronic threats such as hunger, disease and oppression" and "protection from sudden and harmful disturbances in everyday patterns". This moved away from the centralized approach that existed to encompass seven key distinct components: economic security, food security, health security, perimeter security, personal safety, community security and political security. Judging by the seven components of human security, the failure of the human security system in Nigeria is a major problem with many ripple effects. This has led to the emigration of young people into the country, and also worsened the already bad situation in Nigeria by causing a stronger brain drain effect and a lack of experience in the country. This chapter will focus on explaining concepts and identifying defective components. In addition, this section will look at the effects of a failed human security system and finally suggests practical solutions to those effects.
Determinants of National Food Security in Nigeria
(Journal of Economics and Sustainable Development, 2015) Oke, M. A.
Food is a basic necessity of life and it is required for both human and economic development. Considering the massive movement of labour and other productive resources away from the agricultural sector as a result of the oil boom in the early 1970 which, constituted a lot of problems to the food security situation in Nigeria, this study examines the determinants of national food security in Nigeria. The study found out that the various problems encountered by the food sector in the economy include; policy ineffectiveness, high cost of production, high exchange rate, increasing population e.t.c. These factors cause inflationary pressures on food prices and they are the reasons why food security in Nigeria has worsened in the country over the yearss. However, this study recommends that food security situation in Nigeria can be greatly improved upon if the cost of production in agriculture can be reduced and if the exchange rate prevailing in our country can be lowered. The study also suggests that food production should be in line with the rapid population growth in order to save the country from the high rate of poverty
E-Governance and Corruption Impasse in Nigeria: A Developmental Expedition Synopsis
(E-Governance and Corruption Impasse in Nigeria, 2018) Aluko, Opeyemi Idowu; Temitope Aderinola, Gabriel
E-governance is a technological innovation that brings governance to the fore of integrity and accountability. It requires high technological commitment so as to bring the government closer to the people. Corruption on the other hand is a bane to growth and development in any country. E-governance is a corrective measure to corruption which prevents government officials from shady activities due to its transparency nature. The connection between e-governance and corruption is analyzed in this chapter, and Nigeria is selected as a case study in developing countries. The chapter concludes on the premise that e-governance reduces the strength of corruption in any country and more investment is needed to enhance this development.
Effect of Currency Fluctuations on the Economic Growth Potential of Nigeria
(European Journal of Business and Management, 2016) Oke, M. A.; Jerumeh, T. R.; Akinribido, B. B.; Popoola, O. A.; Ogunnubi, C.; Okoruwa, V. O.
The exchange rate is one of the most important determinants of a country's relative level of economic health. This study examines the effect of currency fluctuations on the economic growth potential of Nigeria using the World Bank Development Indicators data from 1970-2012. The study through the Augmented Dickey Fuller (ADF)/ unit root test found that the variables used in the model are integrated of the order one while export and interest rate are integrated of the order zero. Using the Johansen co integration tests shows the presence of long run relationship between variables. The Error Correction Model (ECM) results suggest that exchange rate has a negative significant impact on GDP in the short run and long run. The study therefore recommends that the competitiveness and stability of the exchange rate should be given due consideration as this will increase economic growth through increased investment.
EFFECT OF INTEREST RATE DEREGULATION ON DEPOSIT MOBILIZATION IN THE NIGERIAN BANKING
(International Journal of reseach in Commerce, IT & Management, 2013-07) Oke, M. A.
This paper examine the effect of interest rate deregulation on deposit mobilization in the Nigerian Banking Industry.
THE EFFECT OF PENSION FUNDS ON THE GROWTH OF NIGERIAN ECONOMY
(INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE, ECONOMICS & MANAGEMENT, 2013-07) Oke, M. A.
This work evaluates the effects of pension funds on the growth of Nigerian economy. Pension funds are ranked among the largest institutional investors in developed countries by assets under management. According to the Organization for Economic Cooperation and Development (OECD), pension funds assets in six of the non-emerging OECD countries amounted to $8.5 trillion in 2001. Thus the main thrust of this study is to analyze the role of pension funds as an institutional investor on emerging market for the period 1970-2010 using Nigeria as a case study. The data used in this study are time series. A stationary test was conducted to know their various levels of stationary (levels of integration). Ordinary Least Square (OLS) was later conducted based on the data derived after this test. This is because the data of the variables were stationary at both levels and at difference. During the cause of the estimation and analysis, it was discovered that the major determinants of real GDP is the physical capital of the economy. It therefore suggests that the federal government should aim at proving more capital which will increase the level of growth in the country. It was also discovered that there was an insignificant relationship between pension funds and economic growth. This could be attributed to the poor economic conditions, unstable financial sector, lack of commitments on the part of the government, high rate of corruption and lack of trust worthiness within the system which could be corrected if proper policies are put in place and been fully implemented. Investment portfolios of pension funds should also be diversified towards private and international instruments in order to reduce risk. Also, pension reforms should needs to be complemented with other reforms in the economy such as social security, labour market and financial sector in order to have an overall effect on the economy. Finally, policies should be formulated towards the integration of the defined benefits and defined contributions plan and work towards institutionalizing the multi-pillar system of the economy.
An Empirical Investigation of the Liquidity-Profitability Relationship in Nigerian Commercial
(Journal of Economics and Sustainable Development, 2013) Oke, M. A.; Ayodele, Thomas
The study critically assessed the relationship between liquidity and profitability of Nigerian commercial banks. Purposive sampling method was used to select First Bank Nigeria Plc as the case study being the oldest and the biggest among the 24 commercial banks currently operating in Nigeria. Secondary data collated from First Bank’s annual reports of ten years (2002-2011) were used for the study. The regression analysis of ordinary least square was employed to analyses the data. Student’s test was also used to test the relevant hypothesis.Findings show that there is a very high correlation between liquidity of banks and their profitability.
Entangled in the “New World Order”: Africa’s (In-) Security Quandaries and Prospects
(African Books Collective, 2018) Aluko, Opeyemi Idowu
Exploring the Link between Total Quality Management and Business Performance
(European Journal of Business and Management, 2014) Oke, M. A.; Oke, O. D.
The study examined the influence of total quality management on business performance in manufacturing industry in Nigeria with a particular reference to Nestle Nigeria Plc. The broad objective of this study was to examine how leadership, supply quality management, employee participation, recognition and reward and quality system management predicted business performance. The study employed survey research. Primary data was used for the study with questionnaire as research instrument. The subjects were two hundred employees from Nestle Nigeria Plc. The six hypotheses formulated for this study were tested using multiple Regression and Pearson correlation. The findings for this study revealed that leadership, supply quality management, employee participation, recognition and reward and quality system management jointly and independently predicted business performance. Based on the findings of the study, it is recommended that management should try to update themselves on the various TQM practices so as to face the competitive environment.
GANG AND URBAN VIOLENCE PREVALENCE ON DEMOCRATIC SUSTENANCE
(ABAC Journal, 2018-06) Opeyemi Idowu*, Aluko
Violence is a phenomenon that occurs everywhere. It has severe consequences on the growth and development of any country. Gang syndicates in different urban and rural areas across the world are the major suppliers of violence in the world. The rate of growth of gang memberships across the rural and urban regions of the world is a challenge that all governments must proffer solutions to. In a democratic regime, the rate of growth of violence reduces the chances of good governance and democratic sustenance. This means that the more there is violence, the lesser democratic development and sustenance. The theoretical framework of tyre burning is used to explain the phenomenon of violence processes. This usually begins with a peaceful protest that degenerates into violence. The paper concludes on the premise that engaging the youths in productive activities will reduce gang membership and urban violence.

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