ECONOMIC DEVELOPMENT

This study investigates the magnitude of the direction of government expenditure and its impact on the wellbeing of the people with the aim of alleviating poverty. Some social indicators were employed in the study which reflects the living standard of the people and they include health, agriculture, education, microfinance and life expectancy. By employing these indicators, the rate at which government expenditure affect the lives of people and also us relative impact on poverty reduction were determined In this study, the Ordinary Least Squares method of analysis was used with Poverty as the dependent variable and five independent variables. They are government expenditure on education, health, agriculture, microfinance and life expectancy. The data used in this research was collected from secondary data obtained from the CBN statistical bulletin. The major findings shows that government expenditure on health education and agriculture are significant and a unit increase of government expenditure in these sectors can reduce poverty level. While that of life expectancy and microfinance are insignificant and a unit increase will increase poverty level. Recommendation were proffered based on the findings of this research that government at all levels should gear up its investment in agricultural research, health and education and ensure that its expenditure are channeled towards projects that will reduce poverty level in Nigeria so as to drive the economy towards growth and development.

Financial crimes pose a major challenge to Nigeria’s economic stability, affecting investment, governance, and public trust in financial institutions. This study examines the types, causes, and effects of financial crimes, with a focus on money laundering, fraud, and corruption. It also explores the role of economic, institutional, technological, and regulatory factors in driving financial crimes. A descriptive survey research design was employed, using a structured questionnaire to collect data. Multiple regression analysis was conducted to assess the relationship between financial crimes and its underlying causes. The findings reveal that economic hardship, weak institutional governance, technological vulnerabilities, and regulatory inefficiencies significantly contribute to financial crimes in Nigeria. Among these, economic factors (β = 0.432, p = 0.000) had the strongest influence, followed by institutional weaknesses (β = 0.389, p = 0.000), regulatory inefficiencies (β = 0.317, p = 0.000), and technological factors (β = 0.278, p = 0.000). The high R² value (0.659) confirms that these factors collectively explain a substantial portion of financial crimes in the country. The study concludes that financial crimes reduce foreign direct investment (FDI), weaken financial institutions, and hinder economic development. To combat these issues, it recommends strengthening economic policies, improving institutional governance, enhancing cybersecurity measures, and enforcing stricter financial regulations. These findings provide valuable insights for policymakers and financial regulators in developing more effective strategies to curb financial crimes and promote economic stability in Nigeria

In many African societies, traditional institutions are integral to governance, community development, and cultural identity. Despite the dominance of Western democratic systems introduced during colonial rule, traditional authority structures such as monarchies, chieftaincies, and councils of elders-have remained resilient, adapting to socio-political changes while maintaining their relevance in the contemporary era. For instance, N. C. Okonkwo points out in his study on the Warri Kingdom that traditional institutions serve as custodians of indigenous governance and facilitators of communal development, often filling the gaps left by formal state systems. In Nigeria, traditional rulers such as the Oba, Emir, or Olu have historically played a significant role in not just governance but also in economic regulation and local resource management. According to H. Obi and F. Asiazobor, these institutions have evolved into hybrid structures that engage both with the grassroots and state-level actors in pursuit of development.2 Their influence spans land allocation, dispute resolution, youth mobilization, and even mediation between communities and corporate or government
actors.

Accountability is a fundamental pillar of good governance and economic development. This study examined the role of accountability in economic development within Oredo Local Government Area of Edo State. The research aims to assess the current state of accountability, its impact on economic initiatives, public perceptions of government officials' accountability, existing mechanisms for ensuring transparency, and challenges impeding effective governance. A structured questionnaire was administered to 300 respondents, and data were analyzed using mean and standard deviation. Findings reveal that accountability within Oredo LGA is low, with a mean score of 2.32 for the general level of accountability and 1.88 for government transparency. Town hall meetings and public engagement scored 2.26, indicating limited opportunities for citizen participation in governance. The study found strong agreement that accountability significantly influences economic development initiatives (Mean = 4.67), while lack of accountability negatively impacts government-led programs (Mean = 4.48). However, confidence in officials' ability to manage public funds effectively was low (Mean = 2.68), and government accountability in cases of resource mismanagement also received a low rating (Mean = 2.67). Corruption was identified as a major hindrance to accountability (Mean = 4.66). Respondents recognized the existence of monitoring mechanisms (Mean = 4.1) but emphasized the need for stronger anti-corruption laws (Mean = 4.66) and enhanced transparency measures (Mean = 4.66). Major challenges to accountability include political influence (Mean = 4.51), lack of financial transparency (Mean = 4.58), and weak enforcement of laws (Mean = 4.61). The study concludes that weak accountability structures undermine economic development in Oredo LGA. Strengthening anti-corruption laws, increasing public transparency, enforcing legal frameworks, and fostering civic engagement are recommended to improve governance and economic growth in the region. This research provides valuable insights into local governance challenges and offers practical recommendations for enhancing accountability in Oredo Local
Government Area of Edo State.

This quantitative research study explores the relationship between Value Added Tax (VAT) and economic development in Nigeria, Ghana, Senegal, and Liberia, with a particular emphasis on the impact of VAT revenue on economic performance indicators. Utilizing a robust research design, the study analyzes secondary data spanning from 2000 to 2022 to examine the effects of VAT on economic growth, using the Human
Development Index (HDI) as a proxy for overall economic development, with the regression diagnostic including test for serial correlation, heteroskedasicity and modern specifications (Ramsey Reset) confirm the robustness of the model.The Ordinary Least Squares (OLS) regression results reveal that VAT exerts a positive and statistically significant impact on economic development in all four countries, although the
magnitude of this effect varies, with Nigeria displaying a notably stronger association. The study's findings underscore the critical role of VAT as a sustainable revenue- generating mechanism, capable of funding infrastructure, public services, and social welfare initiatives. The research highlights the importance of effective tax administration, improved compliance measures, and digital monitoring systems in leveraging VAT's potential to drive economic advancement. Furthermore, the study emphasizes the need for ongoing research to incorporate additional covariates and explore non-linear relationships to better understand the broader fiscal dynamics at play. The study's insights offer valuable recommendations for policymakers in these nations, emphasizing the need for enhanced tax policies and administrative frameworks to promote sustainable economic development.

This research investigates the effects of tax evasion and tax avoidance on Nigeria’s economic development, focusing on how these practices undermine government revenue, fiscal stability, and national growth. Taxation remains a major instrument for resource mobilization and economic management in developing nations, yet Nigeria continues to struggle with low tax compliance and weak revenue performance. Despite multiple tax reforms and the introduction of modern administrative frameworks, the Nigerian economy still suffers from pervasive evasion and avoidance, largely driven by legal loopholes, corruption, and ineffective enforcement mechanisms. The study adopted a survey research design, using structured questionnaires distributed to 100 staff members of State Boards of Internal Revenue across the six geopolitical zones of Nigeria. Data were analyzed using descriptive statistics and Chi-square (X²) tests to determine the relationship between tax evasion, tax avoidance, and economic development. The key variables examined included loopholes in tax laws, government spending perception, effectiveness of tax audits, and the impact of lawmaking and tax administration. Findings revealed that tax evasion and tax avoid ance have significant negative effects on economic development. Specifically, legal loopholes in tax legislation, weak enforcement capacity, and poor accountability in the use of public funds contribute to persistent revenue losses. Respondents also indicated that inadequate taxpayer education and corruption within taxagencies fur ther erode public trust and compliance. Consequently, the government’s ability to
finance infrastructure, healthcare, education, and other developmental programs is severely constrained, leading to economic stagnation and increased inequality. The study concludes that curbing tax evasion and avoidance is essential for achieving sustainable development in Nigeria. It recommends that the government strengthen its legal and institutional frameworks, digitalize tax administration processes, enhance transparency in public spending, and intensify taxpayer enlightenment campaigns. Furthermore, the study suggests stronger collaboration among tax authorities, financial institutions, and international bodies to curb profit-shifting and illicit financial flows by multinational corporations. Implementing these measures will promote voluntary compliance, increase revenue generation, and support inclusive economic growth in Nigeria.

In recent times, there have been worry over the emergence of substandard drugs in Nigeria. Tetracycline is a common POM (prescription-only medication) drug with diverse clinical and veterinary use. It is often preferred due to its low cost, comparable efficacy and ease of access. This research seeks to improve clinical decision-making, contribute to quality assurance measures and support regulatory endeavors within Benin City. Visual inspection was performed on each brand of tetracycline capsules using the World Health Organization Visual Inspection of Medicines Template. In-vitro release study was performed as outlined in the United States Pharmacopeia, 2023. A modified method of Ahmed et al., 2018 was used with absorbance read at 384nm. Visual inspection of different brands of tetracycline capsules revealed that 90% of the brand analyzed met the required standard. All brands analyzed had dissolution rate in the range of 91.31 to 99.57%, 92.62 to 99.57% and 95.23 to 99.57% at 20, 40 and 60 minutes respectively. Result from spectrophotometric analysis showed that all the brands analyzed had tetracycline
hydrochloride content between 91.17% and 98.58% of the label claim, with sample D7 having the least amount of tetracycline hydrochloride 91.1%. From the results above, the various brands of tetracycline available in Benin City are of good quality. However, there are concerns that the brand coded D7 may soon be substandard having failed the visual inspection test. Therefore, periodic checks need to be performed to ensure drug products available for use are of the highest quality so as to safeguard lives and ensure efficacy.

he purpose of the study is the relevance of business education to economic development. Three research questions were raised to guide the study. A descriptive survey research design was adopted. The entire population of one hundred and fifteen (115) was used. A questionnaire containing thirty items was the instrument used in obtaining responses from respondents. The data collected were analyzed using frequency, percentage, mean and standard deviation for research questions. The finding included; business education has relevance to economic development, that eight factors were identified as obstacles challenging business education programmed towards achieving economic development, that ten solutions were prescribed fir eliminating obstacles challenging business education programme towar5ds achieving economic development. The following recommendations were made; Nigerian youths should be encouraged to study business education through public enlightenment campaigns, only qualified business educators should be allowed to teach business education, there should be adequate funding for business programmes, government through their relevant agencies should provide adequate facilities as well as steady power supply for business education programmes to thrive properly, and that stakeholders in business education programmes should be able to strike a balance between theory and practical in business education curriculum

The study investigates the relationship between external debt and economic development in Asian countries. The study adopts a quantitative research approach, utilizing statistical analysis to examine the relationship between external debt and economic
development in Asia. The outcome of the study revealed that external debt has a negative impact on GDP growth rate(D(GDPGR) and was statistically significant at 5% level. Inflation have negative impact on GDP growth rate ; and statistically significant at the
conventional significance level of 0.05; poverty rate was found to have negative impact on GDP growth rate while holding other variables constant and this variable was statistically significant at 5%. The study however recommends that policymakers should exercise caution when accumulating external debt. It's essential to ensure that external borrowing is used for productive investments that generate economic returns to cover debt servicing costs;continue to monitor and manage inflation to ensure it remains within an acceptable range. High and volatile inflation can disrupt economic stability and erode the purchasing power of citizens. Policymakers should prioritize poverty alleviation measures as an integral part of economic development strategies and ef orts to reduce poverty can include targeted social programs, job creation initiatives, and access to education and healthcare. Develop economic policies that promote inclusive growth, ensuring that the benefits of economic development are distributed more equitably across society.

It is the dream of every entrepreneur to have a successful company or organization. No matter what the product or niche is, ever entrepreneur or business owner desires first to create their own unique identity (brand), and to increase to a large extent the people who purchase their products, which will therefore lead to the expansion of the business both nationally and internationally.¹ The big companies today, the ones who have successfully attracted very high number of purchasing and returning customers, and have even been more successful in creating branches within Nigeria and even beyond Nigeria did so by following some principles that are guaranteed to increase the output of the company.² Great companies like Dangote cement factory, Jumia, Global pm, and so on didn't just become great overnight, no they had successfully kept some principles for
business expansion and followed it to the core.