PRE-DEGREE/CERTIFICATE REGISTRATION/SCHOOL FEES

PUBLICATIONS

1. THE  AFRICAN DEVELOPMENT BANK: IS IT REALLY THE WORLD BANK OF AFRICA?

BY Augustus N. Gbosi

Abstract

The African Development Bank (ADB) was established in 1964 and charged with the responsibility of financing the economic and social development of Africa. The primary task of this paper was to analyze the operations of the ADB and to determine whether or not it has functioned like the World Bank of Africa. Our analysis  showed that the ADB is not yet the World Bank of Africa. One of the major problems facing the ADB is inadequate capital base. This has adversely affected the performance of the Bank. Therefore, it is recommended that member countries should endeavour to pay their annual subscriptions whenever they are due and on time too. 

NIGERIA’S RECENT FOREIGN POLICY AND ITS IMPLICATIONS FOR AFRICA

BY Dr. Bamanga Tukur

Abstract

The primary objective of this paper was to present an overview of Nigeria’s foreign policy. The analysis showed that over the years, Nigeria has pursued modest foreign policy. In recent years, however, there are several challenges facing Nigeria’s foreign policy. One of the challenges is that Nigeria’s ambassadors have performed below expectation. Therefore, it is recommended that there should be periodic training programmes for our diplomats. This will enable them have sound knowledge of the art and science of diplomacy.

THE UNITED STATES’ GREAT RECESSION AND CHALLENGES TO NIGERIA’S POLICY MAKER

By Uko, Aham Kelvin, Imoisi, Anthony Ilegbinosa

Abstract

Global financial crisis is not a new phenomenon in the economic and financial literature. However, the current global financial crisis which originated from the United States in late 2007 appeared to have thrown the whole world into another depression. Our analysis showed that the United States 2008 recession has led to poor performance of the Nigerian macro economy. Specifically, the Nigerian economy has been characterized by rising and unstable interest and exchange rates. Therefore, it is recommended that the Central Bank of Nigeria (CBN) should ensure proper management of our external reserves to stabilize the naira exchange rate.

THE DYNAMICS OF AFRICAN TRADE IN HISTORICAL PERSPECTIVE

BY Orji, Kingdom Eke (Phd)

Abstract

Trading at local, regional and inter-continental levels played a vital role in the economic history of Africa. This paper traces the evolution and potentialities of African trade spanning various stages ranging from crude barter of the Communual epoch, the undercurrents of the Trans-Saharan and Trans-Atlantic Slave Trades and Legitimate Commerce cum the economic underpinnings of colonial and neo-colonial distributive exchange networks in a globalized milieu. A discourse on trade demonstrates obvious implications for surplus production, market economy, inter-group relations, class formation and provides a bulwark for erstwhile Eurocentric ideas that portrayed African indigenous economies as banal and barely subsistent. The nexus between external trade and the integration of Africa into the world capitalist system on the one hand and creation of dependency and underdevelopment will be delineated.

TRADE FACILITATION FOR MOVEMENT OF GOODS AND SERVICES: THE ECOWAS EXPERIENCE

BY Dr. GBENGA GREG. OBIDEYI

Abstract

Trade facilitation programmes in  a narrow sense,  simply address the logistics and/or efficiency of moving goods through ports or more efficiently moving documentation associated with cross-border  trade. A broader definition includes streamlined regulatory environments, deeper harmonization of standards, and conformance to international regulations (Woo and Wilson, 2000). Regulatory environment and availability of infrastructure to enable e-business usage have also been floated as parameters for measuring trade facilitation. To all these should be added a legal regime that complements e-transactions, including e-management in the trade sense. The relationship between trade facilitation, trade flows, income growth, and human development is complex and challenging in empirical design and estimation. Economic theory generates a relatively simple chain of causality: human development is enhanced through income growth; income growth is a positive function of trade; trade facilitation measures accelerate the growth of trade. Studies on trade facilitation have found that enhanced port efficiency has a large and positive effect on trade, and that regulatory barriers deter trade.

Studies on the subject further suggest that improvements in customs and greater e-business usage (and therefore availability of e-business  infrastructure) significantly expand trade, but to a lesser degree than the effect of ports or regulations. According to Limao and Venables (2004),  “infrastructure is an important determinant of transport costs – and hence facilitation of trade, especially for landlocked countries”.  Analysis of bilateral trade data confirms the importance of infrastructure and gives an estimate of the elasticity of trade flows with respect to the trade cost factor of around -3.

Mutahunga (2005) declared that Trade facilitation is an important aspect and tool for economic development, and the causal effect would need to be explored for trade facilitation measures to be prudently formulated and implemented. Whereas a number of countries  acknowledge that trade facilitation is important for their development, they cannot afford the huge investments associated with trade facilitation measures such as investment in trade facilitation infrastructure, customs  modernization, information and, communication technology, and human resource development. Coupled with the above, unscrupulous business practices also make the relationship between trade or customs authorities and the business community a little bit strained.

NAIRA EXCHANGE RATE FLUCTUATIONS AND IMPLICATIONS FOR AFRICAN ECONOMIES

BY Emeka Obi

Abstract

This paper critically analysed the historical developments in Nigeria’s Foreign Exchange Market since its inception and its implications for Africa. The market evolved principally in direct response to the dynamic changes in the domestic economy and the international environment. Structurally, it is composed of the official, inter-bank, bureaux de change (BDC_s) and the parallel markets. Over the years, the market is yet to constantly establish a realistic and stable exchange rate for the naira and is not yet fully diversified. Nonetheless, the paper showed that there have been a remarkable improvement in the exchange rate of the naira over other exchangeable foreign currencies of the world. It therefore recommends that other sources of supply of the foreign exchange(like the private sector)  should be highly encouraged. In addition, the activities of the parallel market should be completely outlawed.

GLOBALIZATION AND SUSTAINABLE DEVELOPMENT IN NIGERIA

BY Prof. Samuel Bankole Arokoyu

Abstract

Globalization is an important process structuring and restructuring the globe today. This process which engenders diverse impacts and spatio-economic changes is a product of the global information economy and the restructuring of the corporate world. Globalization is inherently geographical and involves how space, place and time are configured and reconfigured in the unending search for a spatial fix to the crisis tendencies of capitalism. Globalization is implicated in the production of new geographical patterns of flows and activity and contingent on trade, industrialization, and innovation in the technologies of transport and communication. Thus, this paper contends that developing countries must critically analyze the process to determine how it could be made to produce concrete and sustainable development structures and be a catalyst for permanent socio-economic engineering. The paper therefore identified the distinctive features of modern globalization, the basic challenges and the window of opportunities it offers for the production of sustainable development in Nigeria.

• Prev