Faculty of Management Sciences
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Item 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 IfeomaThe 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.Item Green Product Demand And Brand Performance(ResearchGate, 2024-02-02) Emieseifa James Agama; Muritala Taiwo Adewale; Abubakar Hadiza SaiduGreen product demand increases as consumers become more conscious of the world's worsening environmental problems. This study investigates the impact of green product demand on brand performance. Despite the attention paid by FMCG firms in Nigeria to green product demand (green product design and green promotion), brand reputation still needs to improve. The study used a descriptive survey approach, using 121 workers from the identified firms as participants. The total sample size for the research was 121. A systematic questionnaire was used to obtain information from respondents using primary data. In addition, Cronbach's alpha and the Statistical Package for Social Sciences (SPSS) version 20.00 were used in this study to regress the data obtained from the respondents. The results show that green product demand [green product design (.01+2.24) and green advertising (.01+1.41)] had a positive and significant impact on FMCG brand performance (brand reputation) in Nigeria. Based on this finding, the study recommends that the chosen FMCG's managers and quality control department continue to use green product demand to improve brand performance. This is the new method of getting product consumers to be more patriotic by helping build a better brand reputation for the organisation. Furthermore, FMCG in Nigeria should continue to improve their green design and use green advertising to attract more customers to their product since it is favourably associated with itItem 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 AfolabiThe 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.Item Impact of Workplace Diversity Management on Employee Commitment in the Nigerian Public Sector(Scientific Research Publishing, 2023-02-02) Uchechi Chinazom Ekejiuba; Muritala Taiwo Adewale; Abubakar Hauwa Lamino; Aarti Sharmahe study analyses workplace diversity management on employee commitment in the Nigerian public sector. The study used a quantitative approach and adopted a stratified random sampling technique by electronically distributing questions to a sample of 39 employees on the supervisory cadre across respective departments in Abuja office only. Descriptive statistics and multiple regression model were used to analyse and estimate the impact of workplace diversity management on employee commitment. The findings showed that the constructs of Inclusion and Fairness have positive and significant impact on affective commitment with probability values of 0.000 and 0.003 and coefficients of 0.920 and 0.572 respectively. Alternatively, the study also showed that the constructs of Equal Opportunity and Policies and Programs have negative and insignificant impact on affective commitment with probability values of 0.320 and 0.062 and coefficients of −0.172 and −0.443 respectively. The study concludes that Workplace diversity management has both positive and negative impacts on affective commitment the findings also revealed that workplace diversity management policies in multicultural nations like Nigeria were poorly implemented even though they existed, and this reflected in lopsided appointments, promotions, and nominations at the top government level. From the foregoing conclusion, the review recommends that organizations assimilate minorities, integrate diversity and leverage on the variety.Item 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 StanleyObjective: 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.Item Joint Venture, Technology Transfer And The Performance Of Nigerian Oil And Gas Industry(International Journal of Professionals Bussiness Review, 2024-02-02) Nwoko Marshall Olakada; Bakare Akeem Adewale; Muritala Taiwo Adewale; Abbas Umar Ibrahim; Abubakar Hauwa LaminoPurpose: The objective of this study is to examine joint venture, technology transfer on the performance of Nigeria's oil and gas sector between 1981-2021. Theoretical Framework: It is indisputable that the Nigerian oil and gas sector is not at peak performance when compared to what is obtainable from its peers in the Organization of Petroleum Exporting Countries (OPEC) (Iheukwumere, 2021; OPEC, ASB 2020). One of the factors responsible for the abysmal performance is ineffective and incoherent technology transfer management through joint venture arrangements (Odusina, 2022). Therefore, there is a need to empirically investigate the impact of joint venture arrangements on Nigeria's oil and gas sector production which lacks sufficient research. Methodology: The ex-post facto design was used where data were collected through secondary sources on the aggregate output of the joint venture companies and the total yearly output of the upstream sector of Nigeria’s oil and gas industry represented the performance of the Nigerian oil and gas sector in the period 1980 to 2021. The collected data were analyzed using the Quantile Autoregressive Distributed Lag (QARDL) approach to test for short and long-run impacts. Findings: The study revealed that there is a significant impact of joint venture arrangements on oil and gas production in both the short run and long run. Research, Practical & Social Implication: The study therefore recommends that policymakers and industry stakeholders should carefully evaluate the terms and conditions of joint ventures to ensure their alignment with the goals of maximizing oil and gas production. Originality/Value: The use of joint venture as a proxy for technology transfer in the production of oil and gas in Nigeria and use of secondary data between 1980-2021 for joint ventures is an eye-opener for further exploration of the study areas in oil and gas production management, particularly in the area of technology transfer, which lacks sufficient research.Item Effect of Payments System Innovations on the Financial Performance of Commercial Banks in Nigeria(Scientific Research Publishing, 2022-02-02) Zayyanu Mohammed; Abbas Umar Ibrahim; Muritala Taiwo AdewaleThe study examines the effect of payments system innovations on the performance of commercial banks in Nigeria, Ex post factor research design was adopted for the study. The population of the study comprises all the banks operating in Nigeria. Data were collected from the economic reports and statistical bulletin of central bank of Nigeria. The Auto-Regressive Distributed Lags (ARDL) bounds approach to co-integration was adopted on quarterly time-series data from Q1 2007 to Q4 2020 to test the causal relationship between payments system innovations and financial performance of commercial banks in Nigeria. The results indicated that mobile payment, POS trans actions and internet payment have positive and significant impact on return on assets of commercial banks in Nigeria, while RTGS has negative impact on the return of assets. The results of the study will fill the knowledge gap and will benefit both regulators and operators in making decision-making process and development of new policies that will aid the promotion of innovative products for safe reliable, and credible payments system and in identify payments system technology, projects and initiatives that are significantly viable, respectively. The study recommends the need for the commercial banks in Nigeria to undertake massive mass media enlightenment campaigns on all payments system innovations/initiatives.Item 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 LaminoPurpose: 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.Item Impact of Training and Development on the Performance of Public Hospitals in Abuja-FCT, Nigeria(Scientific Research Publishing Inc., 2022-02-02) Yusuf Salami; Cross Ogohi Daniel; Muritala Taiwo Adewale; Abbas Umar IbrahimToday, the business environment is highly competitive and faced with continuously changing technology. Globalization and the changing needs of customers contribute to the challenges of business organizations. To meet up these challenges, organizations need to properly and continuously train and develop their employees. As a result, this research looks into the impact of training and development on the performance of public hospitals in Abuja-FCT, Nigeria. The distribution of a structured questionnaire was required by a survey research design of a (5-point Likert scale). 353 from the total population of 2997 randomly selected employees in the Fourteen (14) general hospitals in Abuja-FCT, Nigeria. 305 questionnaires were filled out by the respondents. Hypotheses tests were carried out and they revealed that there was a major connection between orientation as a training and development method and patient waiting time.