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This paper aims to examine the quantile-based frequency connectedness between cryptocurrencies and palladium returns across different market conditions and investment horizons. In this paper, it is also aimed to evaluate the asymmetric and time-varying spillover dynamics between cryptocurrency markets and palladium returns in order to determine their diversification, hedging, and safe-haven characteristics. The study discussed the Heterogeneous Market Hypothesis together with the concepts of cryptocurrencies and palladium as part of the theoretical and conceptual foundation of the analysis. We employed a hybrid analytical framework combining Quantile Regression (QR), Quantile-on-Quantile Regression (QQR), and Ensemble Empirical Mode Decomposition (EEMD) to capture the non-linear and frequency-dependent relationships between the selected variables. Daily time-series data on palladium prices and major cryptocurrencies, namely Cardano (ADA), Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), TRON (TRX), Tether (USDT), Dogecoin (DOGE), and Ripple (XRP), sourced from CoinMarketCap and Bloomberg Terminal, were analysed over the study period. Main findings of the study demonstrate that (i) the connectedness between cryptocurrencies and palladium returns is generally weak in the short term, indicating limited immediate spillover effects between the two markets, (ii) medium- and long-term horizons exhibit stronger and predominantly positive connectedness across most quantiles, particularly from cryptocurrencies to palladium returns, suggesting increasing financial integration over time, and finally (iii) the cryptocurrency–palladium return nexus is asymmetric and state-dependent, with palladium occasionally displaying limited hedging and safe-haven properties during periods of market distress. The study concludes that cryptocurrencies primarily function as diversification instruments rather than consistent hedging assets against palladium market risks. Based on the findings, investors and portfolio managers are encouraged to adopt medium- to long-term investment strategies when integrating cryptocurrencies and palladium within diversified portfolios, while closely monitoring persistent cryptocurrency market trends that may influence palladium price dynamics over time.

This paper aims to develop a conceptual and measurement framework for assessing environmental, social and governance (ESG) disclosure quality in Nigerian banks. It also aims to demonstrate how ESG disclosure quality can be distinguished from ESG disclosure quantity, ESG performance, ESG practices, ESG ratings and sustainability reporting. We employed a conceptual review and framework development approach by synthesising stakeholder theory, institutional theory, Nigerian sustainable banking regulation, international sustainability reporting standards and related banking literature. The materials analysed include the CBN Sustainable Banking Principles, SEC Sustainable Financial Principles, NGX Sustainability Disclosure Guidelines, Nigeria’s IFRS Sustainability Disclosure Standards adoption roadmap, IFRS S1/S2, GRI, TCFD, PCAF, the Basel Core Principles for Effective Banking Supervision and literature on ESG disclosure, banking risk, financial stability and disclosure quality. The main findings of the study demonstrate that: (i) ESG disclosure quality is a distinct construct; and (ii) bank ESG disclosure quality should be assessed across environmental, social and governance dimensions. The paper proposes the ESG Disclosure Quality Index framework which provides a graded 0–5 scoring scale and three empirical model specifications for future panel data studies. The framework provides a basis for assessing ESG disclosure quality and examining its relationship with bank-level outcomes in Nigeria and comparable emerging market banking systems.               

This research investigates the influence of project management practices (PMP) on sustainable development among oil-producing villages in the Ilaje Local Government Area of Ondo State, Nigeria. This study examines the impact of Project Management Practices (PMPs)—including planning, implementation, monitoring, and evaluation—on the sustainable development (SD) dimensions of the environmental, economic, and social aspects of inhabitants in oil-producing areas within Ilaje LGA, Ondo State. Data were gathered from 154 household heads through structured questionnaires using a survey methodology and analysed with descriptive and inferential statistics, including multiple linear regression. The findings indicated a modest level of PMP, with Mean Index Scores between 2.14 and 2.44, signifying restricted community engagement. The results of the multiple linear regression indicate that the construct and implementation significantly impacted all three dimensions of sustainability: environmental, economic, and social. This indicates that financial benefits are received by the residents of the host community, notwithstanding their limited participation as casual workers during project execution. Nevertheless, oil companies exhibit minimal care for the aspirations of the populace concerning the impact of their projects on the local environment.  The study's geographic limitations restrict generalisability, indicating the necessity for further extensive comparative research. It advises oil companies to use inclusive project management frameworks that improve stakeholder engagement, therefore promoting sustainable socio-economic development and environmental stewardship in host communities

The doctoral programme is an educational programme put in place to earn the degree of Doctor of Philosophy (Ph.D). A criterion for assessing the successful administration of doctoral degrees in universities is the timely completion of the programme.  Research indicates that several Ph.D. candidates at Nigerian universities fail to finish their programmes within the anticipated five-year timeframe. This research examined the determinants of efficient administration of PhD programmes in universities in southern Nigeria. A sample of 528 respondents (PhD students, supervisors and coordinators) was drawn from the University of Ibadan 305, Olabisi Onabanjo University 38, Ekiti State University 50 and the University of Lagos 135. Two questionnaires titled “Effective Management of Doctoral Programme Questionnaire” (EMDPQ r=0.83) and “Predictors of Effective Management of Ph.D Questionnaire” (PEMPQ r=0.82) were used to collect data. Multiple regression analysis was used to test two null hypotheses at the significance level of 0.05. The research found that the successful administration of PhD programs in institutions in southwest Nigeria was significantly influenced by student, supervisory, and institutional variables (F(3;461) =25.973, Adj. R2=0.13), accounting for 13% of its variance. It was also shown that institutional (? = 0.277, t = 2.892, p < 0.05) and student-related (? = 0.275, t = 2.425, p < 0.05) factors are more powerful predictors of effective management of doctoral programmes than supervisory variables. The findings indicated that to improve the effective management of doctoral programmes in universities in southwest Nigeria, stakeholders should prioritise collaboration on student, supervisory, and institutional factors.

This study examines the impacts of credit risk management on the growth of Nigerian banks. Specifically, the study focused mainly on the impacts of credit risk management among Deposit Money Banks in Nigeria. The study employed an ex-post facto research design, utilising secondary data from the financial information of 14 selected listed Deposit Money Banks from 2007 to 2022. The study population was defined as the total number of listed Deposit Money Banks, from which a sample of six banks was selected using a simple random sampling technique. The operationalisation of variables included (1) the use of natural logarithm for bank size, (2) a three-level scale for credit risk, and (3) alternative measurements for collateral management and credit scores. Data analysis involved the calculation of descriptive statistics, correlation analysis, variance inflation factors, and regression analysis. The research hypotheses are also validated to assess the significance of various factors in credit risk management. The findings revealed that credit scores significantly enhance the effectiveness of credit risk assessment, and collateral management did not significantly contribute to mitigating credit risk. The findings also revealed that default risk management significantly reduces the credit risk of Deposit Money Banks in Nigeria. These results highlight the intricate nature of credit risk management in the banking sector and emphasize the need for a multifaceted approach.

Petroleum is a gift of nature deposited under the earth’s surface. The ‘black gold’ as it is generally called, is viewed as a treasure that has the capabilities of transforming the social and economic fortunes of any country. This study explores risk management in Nigeria oil and gas sector with reference to management of government equities in the Nigerian oil and gas sector. A survey design was used for the study. By means of questionnaire, primary data was obtained from randomly selected members of the sampled organisations. The research hypotheses were subjected to chi-square analysis. Analysis was based on fifty-three copies of questionnaire filled and retrieved out of seventy-five questionnaires administered to employees of NNPC, NLNG and Shell companies in Nigeria. Findings from the study revealed some deficiencies in the way government equities in the Nigerian oil and gas sector are being managed, such lapses include government undue interference, lack of transparency, absence of established positive culture and too much bureaucracy. The study concludes that the Nigerian government equities in the oil and gas sector are not effectively managed; the fiscal policy in Nigeria’s oil and gas sector is inadequate; NNPC as presently constituted is not managing government equities invested in oil and gas JV agreements. Among the recommendations of the study include: the government should monitor returns on equities in the oil and gas sector in Nigeria; the government and stakeholders need the establishment a good culture and practice to ensure profitable ownership and collaboration.

There has been increasing studies that details the transmission channels through which financial development permeates to speed up growth to higher echelon. Studies have underpinned that financial development yield more growth when these channels are optimized. With studies on real sector performance sparse, this paper contributes to this discussion as it examined the effect of financial development in fostering industrial growth under the condition of high and low human capital endowment. This was investigated for a sample of five (5) West African Monetary Zone (WAMZ) countries from 1990 to 2022. The study developed a panel threshold regression (PTR) model where human capital functioned as threshold variable and data collected from the United Nations Conference on Trade and Development (UNCTAD), World Development Indicator (WDI) and International Monetary Fund (IMF) databases. The study finds a threshold effect of financial development on industrial sector growth. The PTR estimator shows financial development can produce more industrial growth if human capital exceeds a gross of 62.9493%. Additionally, other factors such as trade openness, natural resource rents and higher labour participation in economic activities support industrial sector growth. In the design of industrial growth enhancing policies, policy mandarins should implement measures that improve human capital and further develop the financial system by scaling up education expenditure to the UNESCO prescribed 26% of GDP, educating women, leveraging technology to improve human capital productivity and outcomes, reducing loan collateral requirements, strengthening legal frameworks, and boosting banking competition by allowing entrant of capitalized financial institutions and timely exist of insolvent ones.

Historically, corporations have leveraged the popularity of renowned celebrities as influencers to market their products in the hope that prospective clients will mimic the choice of these celebrities. This practice has become popular in recent times with the emergence of diverse social networking sites. With huge financial resources expended in retaining these celebrities, the question is whether the success achieved by brands can be attributable to them. This study investigates the use of celebrity influencers in building popularity and loyalty for American (iPhone), Korean (Samsung), and Chinese smartphones in the emerging Nigerian market. It employs a quantitative, cross-sectional design, working with 416 respondents. The findings indicate that the iPhone is the most popular brand in Nigeria and suggest that although participants express excitement with the notion of celebrity influencers and endorse their use in promotional pursuits, they hold the belief that the popularity of these brands cannot be attributable to the use of celebrities. It goes further to state that using celebrities may not foster brand loyalty. The study concludes that while it makes marketing sense, and indeed is exciting to use celebrity influencers in marketing activities, without other factors in consideration, such a strategy will not inspire customer loyalty.

Food prices in Nigeria have experienced significant increases due to rising fuel costs, unstable exchange rates, and socio-political challenges. This study examines the effects of fuel prices and exchange rate changes on food inflation using a Structural Vector Autoregressive (SVAR) model, which provides insights into both immediate and long-term impacts. Monthly data from June 2015 to May 2024 shows a stable long-term relationship between food inflation, energy prices, and exchange rates, making it clear that these factors are key drivers of inflationary trends in Nigeria. Our findings reveal that increases in fuel prices, particularly for petrol and diesel, drive up the cost of food production and transportation, with noticeable impacts appearing within three to six months. Similarly, shifts in exchange rates raise the cost of imported foods, with effects becoming evident in about two to ten months. Recent economic reforms, such as the fuel subsidy removal in 2023, have intensified inflationary pressures, exposing structural weaknesses in Nigeria’s food supply chain, including poor infrastructure and insecurity. The study recommended a direct approach to tackle food inflation, we recommend the creation of a Food Price Stabilization Fund (FPSF), which would help manage extreme price volatility caused by energy price fluctuations and exchange rate changes among others.

The study investigated the challenges confronting preparation of financial report of selected state governments in Southwestern Nigeria. Financial reporting in the Nigerian public sector is marred by a host of challenges that hinder transparency, accountability and effective governance. The study used a descriptive survey research design and primary data were collected from three states of Ondo, Ekiti and Ogun through structured questionnaires. The target population consisted of the Office of the Accountant General and the Office of the Auditor General within government departments. The total population of the study was 763 individuals, including 276 participants in Ondo State, 256 participants in Ekiti State and 231 participants in Ogun State. The sample size was 262 participants, selected using the Taro Yamane formula. The online survey was completed with 100% validity and a reliability test coefficient of 0.929 using Cronbach's alpha statistics. Data were analysed using descriptive statistics. The study examined the lack of technical expertise, inadequate accounting systems, complex regulatory environment, transparency and accountability concerns, inadequate funding and political interference. To address these challenges, it was recommended that Nigeria must invest in capacity-building, modernize its technology infrastructure, establish effective regulatory mechanisms, enhance transparency measures, allocate adequate resources and safeguard financial reporting from political interference. By doing so, Nigeria can pave the way for accurate, credible financial reporting, fostering trust, good governance and economic development. 

This study investigates the validity of Thirlwall’s Law in Nigeria, examining whether balance-of-payments constraints affects economic growth in Nigeria. Utilizing annual data from 1980 to 2020, the analysis employs an autoregressive distributed lag (ARDL) model to estimate the income elasticity of imports and tests for cointegration to verify long-term equilibrium relationships. Findings reveal that Nigeria’s income elasticity of import demand exceeds unity, suggesting that income growth significantly heightens import dependency, which exacerbates balance-of-payments pressures. The results confirm Thirlwall’s hypothesis, indicating that Nigeria’s growth is constrained by its current account position. This study contributes to the literature by applying Thirlwall’s Law to a resource-dependent developing economy with high import reliance and limited export diversification. Key policy recommendations include the adoption of an import-substitution strategy to bolster domestic production in high-demand sectors, alongside export diversification efforts to reduce external dependency. These findings underscore the urgent need for structural reforms to stabilize the balance of payments and promote sustainable economic growth in Nigeria.

This paper investigates the asymmetric exchange rate pass-through (ERPT) to inflation in Nigeria. The study employed Autoregressive Distributed Lag (ARDL) and Nonlinear ARDL (NARDL) models from 2010Q1 to 2024Q2. The analysis incorporates key policy changes, such as the 2023 exchange rate unification, and explores both the short- and long-run impacts of exchange rate fluctuations on food and headline inflation. In particular, the study highlights the response and pass-through periods of exchange rate shocks, with depreciation demonstrating a stronger and more immediate effect on inflation than on appreciation. Results reveal that exchange rate depreciation exerts significant cost-push pressures, with a pass-through effect observed within 3 to 4 quarters, while the effect of appreciation is weaker and more prolonged. This asymmetry is especially pronounced for food inflation, where the dependency on imported goods accelerates the transmission of exchange rate shocks to consumer prices. The study also finds that cumulative depreciation has a much more pronounced effect on inflation. At the same time, appreciation offers minimal relief, reflecting Nigeria’s vulnerability to exchange rate volatility due to its reliance on imports. The findings show the importance of managing exchange rate fluctuations to control inflation, particularly given the asymmetry in how depreciation and appreciation affect prices. By providing a comprehensive analysis of both long- and short-run dynamics, this study contributes to the understanding of ERPT in Nigeria, offering insights for policymakers to implement targeted interventions to mitigate inflationary pressures in the context of exchange rate instability.

Conflict has been proven to be inescapable in the work environment because of the composite nature of organizations. The study on the Appraisal of the Relevance of Consultation in Organisational Conflict Management evaluated the relationship of consultation with conflict management in an organization. Deploying consultation strategies in conflict management douses the degree of impact and incidence of escalated conflict. The study administered a questionnaire to 200 respondents from Banking & Fintech, Manufacturing, Professional Institutes, Ministries, Departments and Agencies of Government, Telecommunication, and Oil & Gas sectors in Southwest Nigeria through Google Forms, while 177 responded. A questionnaire was designed and validated by Industrial and Labour Relations Experts before administering it. Data were analyzed using charts, tabulations, percentages, and Pearson Product Moment Correlation (PPMC) methods. Findings confirmed that relationships exist between conflict management and consultation as a form of social dialogue. Most respondents agreed in strong and mild terms that deploying social dialogue in conflict management can trim down conflict; facilitate collaboration; replace confrontational relationships; establish a harmonious industrial climate; and open and encourage channels for consensus building. Since conflict is an intrinsic feature of organizational relations, sustaining a mutual relationship requires a deliberate commitment to adopt conflict management strategies. Social dialogue through consultation proved to be a potent apparatus for promoting effective conflict management. This highlights the need for organizations to prioritize consultation as a strategic approach to conflict resolution, ensuring harmony and collaboration across workplace dynamics. Hence, it is recommended that consultation should be deployed as a procedure to manage conflict in an organization.

This paper explores the nonlinear dynamics relationship between petroleum product prices and inflation in Nigeria. By focusing on the role of exchange rate fluctuations in amplifying the relationships, the paper employs a multiplicative interaction approach to address the nonlinear effects of petroleum prices on inflation. Utilizing data from 2016: Q1 to 2024: Q2 from the National Bureau of Statistics and the Central Bank of Nigeria, the study introduces interaction terms to capture how petroleum prices and exchange rates interact to influence inflation. The methodology includes static and dynamic panel estimators, with a focus on the within effect model to account for unobserved state-specific factors. Key findings reveal that AGO and PMS prices significantly drive both headline and food inflation, while DPK's impact varies, and GAS shows minimal effect. The study highlights those geographical factors—proximity to seaports and fuel depots—significantly influence inflationary pressures. States closer to these facilities experience lower inflation due to reduced distribution costs. This suggests that policies aimed at partial subsidization for states farther from key infrastructure could mitigate regional inflation disparities. The findings contribute to the understanding of inflation dynamics, emphasizing the need for targeted policy interventions tailored to regional economic conditions in Nigeria.

Trade liberalization is a widely accepted policy for fostering economic growth, particularly in developing countries. Advocates argue that open economies, through increased competition, specialization, and access to global markets, outperform closed economies. However, the short-term effects on developing economies like Nigeria remain debated, especially within the manufacturing sector. Nigeria's trade policy has fluctuated between protectionism and openness, significantly influencing its manufacturing performance. Critics, drawing from dependency theory, argue that liberalization exposes weaker economies to exploitation by stronger nations, leading to trade imbalances and inhibiting industrial growth. This study investigates the nonlinear effects of trade liberalization on Nigeria’s manufacturing sector, addressing a gap in the literature by employing a quadratic approach to determine threshold effects. By incorporating a quadratic form of the trade variable, the study tests the hypothesis that trade liberalization initially boosts the manufacturing sector but results in diminishing returns as openness intensifies. The research is framed within the Laffer Curve of Trade, suggesting that beyond a certain threshold, excessive openness may harm the manufacturing sector. The AutoRegressive Distributed Lag (ARDL) model is used to assess both short-run and long-run effects, with findings indicating a convex relationship between trade liberalization and manufacturing output, highlighting the critical importance of identifying optimal policy thresholds to maximize industrial growth. 

The ever-evolving digital marketing landscape has continuously adapted to technological advancement, consumer behaviour and ecosystem trends. The 21st century marketplace needs traditional marketing practices, and digital platforms to ensure the actualisation of their growth and development in the ecosystem. The study examined how different digital marketing platforms can influence SMEs' operations and performance (Online marketing, and ICT initiatives). The study employed a quantitative design with primary data collection via a questionnaire designed based on 5-Likert’s Scale to answer the research questions; if there is a significant relationship between Online Marketing and SMEs' Business Competitiveness, and if ICT initiative has a positive relationship with SMEs' Business Growth. Two (2) hypotheses were formulated and tested using a statistical package for social sciences (SPSS). To ascertain the hypotheses formulated, both descriptive and regression analyses were carried out, and the output clearly showed a significant influence of digital marketing on the performance of SMEs. The result shows a positive impact of online marketing on SME business competitiveness. However, this study concluded that in the technology-driven environment, 21st-century SMEs will always see the usefulness and relevance of digital marketing because of its role in improving their performance. This study recommends that SMEs incorporate intensive digital platforms and engage in time-to-time updates of their online marketing channels.

The study contributes to the literature on propane's prospects and viability for off-grid energy, implications for stakeholders, and alignment with sustainable energy goal 7. It examines the prospects of propane-powered off-grid electricity in the Nigerian electricity supply industry (NESI). The study assessed propane’s economic viability and environmental implications as a replacement for diesel (AGO). Specifically, the analyses included comparative levelized cost of electricity (LCOE), net present value (NPV) modeling, Monte Carlo simulations, and carbon emissions estimation. The study found that the cost of energy from diesel (AGO) is 1.52 to 2.86 times of grid MYTO tariffs and 1.84 to 3.92 times of the MYTO tariffs for All-in LCOE. The average total LCOEs were 1.01 to 1.63 times for the commercial bank and 1.02 to 1.63 times for the residential estate. The LCOEs for the AGO generators ranged from $0.183 to $0.286 (fuel only) and $0.335 to $0.392 per kWh all-in. These comparative LCOEs are between 110% and 263.8% of the electricity tariff averages in the US (residential: $0.155/kWh and commercial: $0.127/kWh) and the UK (£0.245/kWh) and, accordingly, confirm the expensive nature of AGO-based electricity in Nigeria. Furthermore, the study found that propane-based off-grid energy is a viable substitute for AGO and cheaper than the current Band A tariff of N206.80KWh, with savings between 10.52% and 45.25%. The study also shows that propane is a cleaner and more efficient source of energy that can help reduce greenhouse gas emissions by at least 13.8% and as high as 31.1% depending on the generator-load match efficiency with the associated monetized savings between $9.18 and $20.62 per MT CO2e. The study recommends government incentives and private sector investments towards adopting propane for off-grid electricity, thereby reducing greenhouse gas emissions, achieving Nigeria’s nationally determined contribution (NDC) plan, and promoting sustainable development.  

Microenterprises are crucial in sustaining the economy, especially in developing economies like Nigeria. Many of these microenterprises do not take cognizance of necessary determinants like organizational culture and its factors to ensure proper running of their day-to-day activities. The study aims to identify some demographic statistics of employers in technological microenterprises, investigate the factors influencing organizational culture and assess organizational culture's influence on business success among employers in selected technological microenterprises in southwest Nigeria. The study was carried out in three southwestern states in Nigeria with 213 business owners (employers) as respondents. Seventeen factors were explored, but eight were extracted to be considered in measuring the employers' organizational culture: climate, customer demand, technological changes, observed behaviour, norms, consistency, adaptability, and sense of mission. Linear regression analysis was also used to measure organizational culture's impact on technological microenterprises' business performance with SPSS as a statistical tool.   The study confirms a positive and significant relationship between organizational culture and business performance at 5% significance. This study concludes that the eight variables extracted are important factors to consider when measuring the organizational culture of employers in technological microenterprises in southwest Nigeria for better business production.

This research work examines the impacts of foreign aids and human capital on economic growth of African oil and non-oil producing countries. Adopting the time series data from 2000 to 2021, the study employs Westerlund Error Correction Based panel cointegration test to investigate the impacts of Physical Capital (FA, GCF, FDI), Human Capital (EDU, HLT) and Policy Variables (REV, EXR) on Gross Domestic Product growth rate (GDPgr). Findings from results of the study affirms that there is a long-term co-movement between the GDPgr and the explanatory variables (FA, GCF, FDI, EDU, HLT, REV, EXR) of both African oil and non-oil producing countries. The study also reveals that foreign aids are better effectively put into use in the African non-oil producing countries than in the oil producing countries. Findings in the study equally confirm that financial resources in the African non-oil producing countries are better efficiently spent on human capital and domestic investment than in the African oil producing countries. The study further shows that revenue generation and foreign exchange earnings stimulate growth better in the African oil producing countries than the non-oil countries counterparts in Africa.  

Sustainability of the rice production and farmers’ income in Nigeria raises a serious concern due to the rising costs of production inputs and other factors beyond farmers’ control. As a result, the study compared the cost and returns of rice production in North central, Nigeria. A multistage sampling technique was used to select 387 rice farmers in the study area. Descriptive statistics, gross margin analysis and seeming unrelated regression were used to analyze the dataset collected. The findings revealed that most of the rice farmers were male, averagely young and have at least 9 family members in their respectively households. Results from Kwara State showed that total cost is higher among the upland rice farmers compared to their lowland counterparts, but reverse was the case in term of net profit, as this favoured the lowland rice farmers. For Niger State and pooled data, the lowland rice farmers had higher net profit than the upland rice farmers. Seemingly unrelated regression estimates indicated that costs associated with fertilizer, herbicide, seed, pesticide and labour used were significant and influencing factors affecting the revenue of rice farmers in the study area. While inaccessibility to cheap farm inputs was the major constraint affecting the rice farmers, other challenges include lack of storage, inadequate rainfall and inadequate credit facilities.  The study recommended seamless access to improved rice varieties by the farmers as this can scale up adoption of improved technologies, boost production and ultimately the net revenue of rice farmers. Farmers are also advised to join and/or form a registered occupational groups through which credit facilities can easily be accessed, to expand the farming operations because of the positive and complementary role of social group and access to credit.