Browsing by Author "Fakunmoju, S.K."
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Item Evaluating the Causality Effect of Exchange Rate and Nigeria Balance of Payment(College of Management and Social Sciences, Fountain University, Osogbo, Nigeria, 2017) Abdullahi, Ibrahim Bello; Fakunmoju, S.K.; Abubarkar, M.A.; Giwa, K.O.A country's exchange rate and balance of payment are usually regarded as one of the indicator by which a nation's strength can be measured especially its economic strength. Exchange rate plays a major role in international trade because no nation can remain in autarky due to varying factor endowments. Nigerian economy experienced chronic deficit on the balance of payment account, fall in the price ofNaira and gross domestic product growth rate due to over-dependency on imported products, reliance of revenues from oil exports, massive imports of refined petroleum, and other related products. The study evaluates the causality effect of foreign exchange rate and Nigeria balance of payment between the periods of 1970 and 2015. The data obtained were subjected to VECM Granger Causality method of analysis. The results revealed that exchange rate and balance of payment granger cause each other at 5 level of significance. The study recommended that there should be a restriction on trade openness of goods or services that can be produced locally and diversification of Nigerian economy by the economy managers. The study concluded that there is high propensity for Nigerian economy to achieve favourable balance of payment, if the above recommendations are implemented.Item Financial Inclusion and Small and Medium Enterprises Performance in Nigeria(Department of Finance, University of Ilorin, 2017) Abdullahi, Ibrahim Bello; Fakunmoju, S.K.Inclusive financial arrangement is becoming a global economies policy as it has been perceived as measure for improveJ1lellt ill Small and Medium. Enterprises (SMEs) output performance. Financial exclusion of SMEs investors had led to fall in SMEs output rate and continuous collapsed of SMEs. This study examines the effect of financial inclusion Oil SMEs performance in Nigeria. Data were subjected to Ordinary Least Squares technique. The results revealed that bank branches and money supply to circulation have positive and significantly affect SMEs performance while bank lending rate, bank liquidity ratio and loan to SMEs investors have positive but insignificant at 5 level of signijical1ce. The study concludes that there is high propensity for SM Es output growth rate to increase of' all the financial inclusion policies are well implemented by the Nigeria monetary authorities. The study therefore recommends that Nigeria government should put in place appropriate financial inclusion policies that enable SMEs easy access to loan facilities at reduce cost and government should stand as a grantor to the facility.