M.G. Ajao

This study investigates the effect of interest rate fluctuations on the performance of deposit money banks in Nigeria over the period 1981 to 2023. Specifically, the study examines the impact of lending interest rate (LIR), deposit interest rate (DIR), and interest rate volatility (IRV) on bank performance, measured by aggregate return on assets (ROA). Time-series data sourced from relevant financial and institutional databases were analysed using the Robust Least Squares (RLS) estimation technique, which accounts for heteroskedasticity and specification errors. The findings reveal that lending interest rate has a statistically significant positive effect on bank performance, while interest rate volatility exerts a significant negative influence. In contrast, deposit interest rate does not significantly affect performance. Based on these findings, the study recommends the implementation of flexible but well-structured lending rate policies to support bank profitability, dynamic deposit pricing strategies to improve funding stability, and consistent monetary policy frameworks to minimise interest rate volatility and promote financial system resilience.

This study empirically investigated the impact of fiscal policy on economic development in Nigeria, covering the period from 2005 to 2022. Driven by the persistent challenge of low growth and high poverty rates despite resource wealth, the research specifically assessed the influence of Government Expenditure, Taxation (Non-Oil Revenue), and Public Debt on key indicators like GDP growth and Non- Oil Sector Contribution. Utilizing an ex-post facto design and applying time series econometrics, including the Error Correction Model (ECM), the study confirmed a long-run relationship among the variables. Findings revealed that while Government Expenditure had a positive and significant effect on GDP growth, both Taxation and Public Debt posed challenges: non-oil revenue was insignificant in driving diversification, and public debt had a significant negative long-run impact on development. The study concludes that the effectiveness of Nigeria's fiscal policy is currently undermined by an ineffective tax regime and an unsustainable debt burden. The key recommendation is for the government to implement urgent and holistic tax reforms alongside a strict debt management strategy to redirect resources toward productive capital investment and achieve sustainable economic development.

This study examined the relationship financial system development and economic growth in Nigeria over the period of 1980 - 2022. The study’s objective is to determine the relationship between private sector credit and economic growth, ascertain the relationship between liquid liabilities ratio and economic growth in Nigeria, examine the relationship between market capitalization and economic growth in Nigeria, examine the relationship between turnover ratio and economic growth in Nigeria and examine the relationship between value of traded shares and economic growth in Nigeria. The ex-post facto research design was employed in this study, the ADF test for stationarity of was taken at difference and first levels, cointegration and ECM short run and Long run analysis was taken. The analysis of the data revealed that liquid liabilities ratio has a long run relationship with economic growth in Nigeria, private sector credit has a strong positive factor that drives economic growth in Nigeria in both the short and long run respectively. market capitalization has a positive significant impact on economic growth in Nigeria in the short and long run respectively, turnover ratio has a strong long run relationship with economic growth in Nigeria, values of shares traded has no long run relationship with economic growth in Nigeria. Also, turnover ratio (TRG) and market capitalization (MCG) are the most significant financial development measures which influences economic growth in the long run gauged from their respective t – ratios. The study recommended that that the ongoing reforms in the banking system and capital market should be intensified so as to boost the development of these segments of the financial system and by that increase their role in economic growth. Also the regulation and supervision of the financial system should be strengthened as it plays a great role in determining both its stability and the extent of the services provided