Faculty of Management Sciences

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Author: search.filters.author.Muritala Taiwo AdewaleSubject: search.filters.subject.Nigeria

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    Impact of Project Cost Control on the Financial Performance of the Nigerian Construction Industry
    (Scientific Research Publishing Inc., 2024-02-02) Abani Joseph Alu; Muritala Taiwo Adewale; Ogedengbe Frank Alaba; Nasamu Gambo; Nwoye May Ifeoma
    The success of any construction project largely depends on the ability to manage project costs effectively. However, cost control in the Nigerian construction industry is characterized by numerous issues such as inadequate planning, poor communication, lack of accountability, and corruption. This conceptual review aims to examine the current state of project cost control in the Nigerian construction industry, identify the key factors affecting cost control, and provide insights into possible solutions to these challenges. The Nigerian construction industry has been plagued with cost overruns, delays, and poor project performance, which have led to a significant waste of resources and financial loss. The findings of this review will be useful to stakeholders in the construction industry, including project managers, policymakers, and researchers, and will help to improve the cost management practices in the Nigerian construction industry. The study reveals that ineffective cost control strategies, poor project planning, and inadequate monitoring and control systems are major issues affecting project cost control in Nigeria. The review also highlights the need for a shift towards more proactive and integrated cost control approaches, as well as the adoption of emerging technologies in project cost control. Ultimately, this study provides valuable insights into the challenges faced by project managers in controlling project costs in the Nigerian construction industry and offers recommendations for improving project cost control practices.
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    How Does Pension Funds Impact Stock Market Development? An Empirical Analysis from Nigeria Using ARDL Technique
    (Scientific Research Publishing Inc., 2023-02-02) Sule Yakubu; Muritala Taiwo Adewale; Abubakar Hauwa Lamino; Bakare Akeem Adewale; Wasiu Akintunde Yusuf; Hafsat Olatanwa Afolabi
    The study examined the impact of pension funds on capital market development in Nigeria from 1995-2022 using ex-post facto research design. Data were collected from the Central Bank of Nigeria statistical bulletin and annual report of the pension fund commission. Data were analyzed using descriptive statistics, unit root test and auto regressive lag model (ARDL). The findings show that there is a long run relationship between market capitalization as a ratio of gross domestic product and selected pension fund variables in Nigeria. Also, there is a no long run relationship between all share index as a ratio of gross domestic product and selected pension fund variables in Nigeria. This implies that there is a short run relationship between all share index as a ratio of gross domestic product and selected pension fund variables in Nigeria. Also, pension fund has positive and statistically insignificant implying that the present value of pension contributory fund does not impact positively on its immediate past state. Inflation has positive and significant impact on market capitalization as a ratio of gross domestic product in Nigeria. Also, inflation has negative and insignificant impact on all share index as a ratio of gross domestic product in Nigeria. Pension investment at precious value is positive and as a statistically significant impact on all share index as a ratio of gross domestic product in Nigeria implying that pension fund investment could be used as purchase of share to increase the total share index in the Nigeria for future benefit for the pensioner whose contribution yields greater impact or return for stable future. The study recommended that pension fund administrators in Nigeria should understand that the rate of inflation is dynamic in Nigeria and the value of money is being lost as money is not worth its values in the next five years.
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    The Impact Of Liquidity Risk On Profitability Of Listed Deposit Money Banks In Nigeria
    (International Journal of Professional Bussiness Review, 2024-02-02) Abiona Jeremiah Olofin; Muritala Taiwo Adewale; Maitala Faiza; Abubakar Hauwa Lamino; Ajalie Stanley
    Objective: The study examined the relationship between liquidity risk and the profitability of Nigeria's listed deposit money banks in Nigeria over a 16 years period from 2008 to 2023. Method: Panel data on cash reserve ratio, liquidity ratio, loan to deposit ratio, and return on equity were collected from the annual reports and financial statements of the five systemic banks listed on Nigerian Exchange Group from 2008-2023. Ordinary least square regression analysis, panel unit root test, Hausman test were used in analysing the data. Results: The study found a significant positive relationship between the cash reserve ratio, loan to deposit ratio and profitability of Nigerian deposit money banks. But liquidity ratio has a negative but insignificant relationship with profitability of deposit money banks in Nigeria. Conclusion: Based on the findings, the research recommends that the Central Bank of Nigeria (CBN) must act quickly to lower cash reserve ratios in order to help Nigeria's deposits banks operate more effectively. Banks should engage competent and qualified personnel in order to ensure that right decision are adopted with regard to the optimal level of liquidity and the loan-to-deposit ratio should be fully utilized by banks to support sales initiatives.
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    Effect Of Board Risk Committee Attributes On The Financial Performance Of Nigerian Insurance Companies
    (Journal Of Law And Sustainable Development, 2024-02-02) Abidemi Soladoye; Muritala Taiwo Adewale; Abubakar Hauwa Lamino
    Purpose: Given the importance of insurance companies to the national economy and the fact that sound financial performance is essential for them to play their stated roles, it is therefore useful to examine the effect of risk committee attributes on the financial performance of insurance companies in Nigeria from 2016 to 2022. Theoretical reference: Agency theory is incorporated in this study because ERM places significant responsibility on the board of directors and its delegates such as risk committees, thereby reducing agency costs. The theory underscores the need to promote sustainable growth and corporate governance. Method: The sample was however limited to the 20 companies that consistently published annual reports for the 7-year study period spanning 2016 to 2022. Using the expo facto research design and the census sampling technique, the study made use of descriptive and inferential statistical techniques, while multiple regression (pooled, fixed effects and random effects models) was used to determine the significance of the effect of risk committee size, independence, and diligence (which are the independent variables), and firm size (the control variable) on loss ratio, (the dependent variable) Results and Conclusion: The multiple regression analysis showed a negative but statistically insignificant relationship between risk committee size and financial performance measured as loss ratio. Risk committee independence and risk committee diligence on the other hand were positively related to loss ratio although the results were also statistically insignificant. However, the results showed a positive and statistically significant relationship between firm size and loss ratio. Thus, the study concludes that the risk committee attributes, size, independence and diligence do not have a significant effect on loss ratio. Implications of research: The practical implication of these findings is that insurance companies need to critically evaluate the structure and workings of their board risk committees to determine which attributes best contribute to their risk management and financial goals. However, given that none of the risk committee predictor variables showed a significant effect on loss ratio, there is a need to recommend a minimum committee size of five and initiatives to improve deliberations at meetings. Originality/Value: While a plethora of studies have been carried out to examine the effect of the characteristics, structure, or attributes of a risk committee on a company’s financial performance, the vast majority of them have been done on either banks specifically, or financial institutions in general. Only a few of the studies have specifically considered insurance companies. Fewer yet have studied the entire population of insurance companies with most preferring to limit their studies to listed insurance companies. Moreover, none of these studies has measured financial performance from the standpoint of loss ratio which is a measure of the insurance company’s capacity to pay claims. This study thus fills a gap in the literature by not only addressing this all-important function of insurance but also contributing to the relative dearth of studies that use the insurance industry as a domain.