E. J. Idolor

This study examined the effect of exchange rate volatility, and the blue economy on the financial
performance of Nigeria’s shipping industry from 1990 to 2024. A longitudinal research design was adopted, allowing for the analysis of cause-and-effect relationships across time. Secondary data were sourced from the World Bank Development Indicators, and the Central Bank of Nigeria Statistical Bulletin, while exchange rate volatility was derived using the GARCH (1,1) model. The study employed an econometric framework grounded in the Traditional Flow Theory and the Balance of Payments (BoP) Theory to investigate how volatility in exchange rates and blue economy activities affect shipping sector financial performance. Financial performance was measured using container throughput revenue, shipping costs, and port revenue, while blue economy proxies include fisheries, aquaculture, and desalination, controlled by macroeconomic variables such as inflation, labour force, and trade freedom. The analysis adopted the autoregressive distributed lags (ARDL) framework to capture both short-run and long-run among the variables. Empirical findings showed that exchange rate volatility reduced container throughput revenue and port revenues while increasing shipping costs. Fisheries had a short-term positive impact, while, aquaculture significantly boosted long-run performance by lowering costs and raising revenues. Desalination has limited influence, showing short-term benefits but long-term drawbacks. The study recommended that the Central Bank of Nigeria (CBN) and other statutory Ministries Departments and Agencies (MDA’s) connected with blue economy, and, the shipping and maritime sector of the economy; formulate policies and embark on activities that will help stabilize the naira, promote risk hedging instruments, and encourage investments in fisheries terminals, aquaculture integration, and desalination facilities

This study examined the effect of financial development and carbon financing on carbon emission in Sub-Sahara Africa. The study adopted stratified sampling technique. The population of the study is the Sub-Sahara African Countries, while the sample of the study was made up of seven (7) Sub-Saharan African Countries. The study employed secondary data collected from World Bank Development Indicators (WBDI) and the International Monetary Fund (IMF) Financial Structure Database. In order to present a robust outcome in the relationships, the pooled mean group (PMG) technique which is an autoregressive distributed lags (ARDL) approach to panel data estimation was adopted for the empirical analysis. However, the presence of cross-sectional dependence in the panel data ensured that the panel correlated standard errors (PCSE) technique was used for robustness tests. Data used for the study is annual panel data for seven SSA countries with developing capital markets covering the period of 2000 to 2023. The findings from the study revealed that financial development exerts divergent effects on carbon emissions in Sub-Sahara African Countries. In particular, the study found that the level of financial liquidity supports sustainability by significantly reducing carbon emissions in SSA, private credit allocation still favours high-emission activities in the region. Thus, it shown that increased credit penetration significantly increases carbon emission. The economic implication is that, financial deepening mitigates climate degradation in SSA economies while the standard of credit and formal funds allocation is highly inefficient in addressing the climate crisis in SSA. The study recommends that, financial flows in SSA countries should be directed toward sustainable sectors while disincentivising carbon-intensive financing either through regulations or explicit incentive measure.