Browsing by Author "Inim Victor Edet"

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    Selected Economic Policies on the Growth of Small and Medium Enterprises in Nigeria
    (Scientific Research Publishing Inc., 2023-02-02) Udoh Francis Sylvanus; Inim Victor Edet; James Agama Emiesefia; Murat Akyuz
    In Nigeria, economic policy should set the parameters in the economic system of the country, which should constitute the key part of the economic practice thereby creating an environment affecting the development and functioning of either collective or individual Small and Medium Enterprises (SMEs) operators and thus logically affecting the sector(s) of the economy. This work examines the effect of selected economic policies on the growth of SMEs in Nigeria. Notwithstanding the attention placed on monetary, fiscal and trade policies, in the overseeing of the economy, the SMEs sector all encompassing, Nigerian economy particularly SMEs are up until the present time of this study not growing as expected. The time frame was from 1986 to 2017, a thirty-two-year study. Research design employed was ex-post facto and a population of seventy-two thousand eight hundred and thirty-eight (72,838) SMEs in Nigeria were used. The sample size was the entire 72,838 SMEs of which the study relied on reports from Central Bank Statistical Bulletin and SMEDAN, thereby employing the Error Correction Mechanism (ECM) tool of analysis to analyze the time series data. The study found that economic policy (proxies: monetary policy, fiscal policy and trade policy) had no positive significant effect on the growth of SMEs in Nigeria. Therefore, the study recommends that economic policy should be design and formulated in such a way that the goals the SMEs want to achieve through monetary, fiscal and trade policies should be realistic and feasible in terms of growth.
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    Sovereign wealth fund on sustainable economic growth in Nigeria
    (Asian Journal of Social Sciences and Management Studies, 2023-02-02) Inim Victor Edet; Udoh Francis Sylvanus; Lungu, Tumba Denis
    The Sovereign Wealth Fund (SWF) nations understood that having enough money in easily accessible foreign accounts would be beneficial to the government in times of fiscal crisis, currency devaluation, natural economic calamity, and even political upheaval to help cushion sustainable economic growth. Between Q1 2005 and Q4 2020, the study looked at the impact of Nigeria's sovereign wealth fund on the country's ability to sustain economic development. In order to conduct the empirical analysis, the study used the ARDL technique of analysis. In order to prevent erroneous regression results, unit root tests were performed on each of the variables. The co-integration test revealed that there is a long-term (or equilibrium) relationship between Nigeria's sovereign wealth fund and the sustainability of its economic growth. It was revealed that Nigeria's gross domestic product was significantly impacted by the Nigerian Infrastructural Fund. Last but not least, it was revealed that the stability Fund has a considerable impact on GDP in Nigeria. Future Generation Fund was also found to have a big impact. On the whole, SWF impact significantly on sustainable economic growth in Nigeria. If government wishes to maintain economic growth and improve the lives of Nigerians, it should demand and pursue effective control and monitoring of the infrastructure, future and stabilization funds.