INTERNATIONAL JOURNAL OF FINANCE, MANAGEMENT AND GOVERNANCE
type: channel
description: International Journal of Finance, Management and Governance (IJFMG) is a quarterly publication by Word Astra Publishers. It is an open-access, peer-reviewed journal dedicated to advancing scholarly research and professional practice in finance, business management, corporate governance, public sector governance, and related fields. The journal provides a platform for researchers, practitioners, policy makers, and industry experts to interrogate contemporary issues in financial systems, organizational performance, leadership, accountability, regulation, and sustainable development across local, regional, and global contexts.
publisher: Word Astra Publishers
language: en
publication name: INTERNATIONAL JOURNAL OF FINANCE, MANAGEMENT AND GOVERNANCE
issn: 3092-9423
items: Examining the Financial Structure and Performance of Listed SMEs in Nigeria
items: Strategies for Post-Conflict Peacebuilding in Africa
items: Microfinance Institutions and Entrepreneurship Development in Nigeria
items: Assessing the Impact of Tourism on Revenue Generation, Employment Creation, and SMEs in Akwa Ibom State, Nigeria
items: Rural Financial Systems and Economic Development in Akwa Ibom State, Nigeria
items: Dynamics of Indigene/ Settler Conflicts in the Northern Senatorial Zone of Plateau State, Nigeria (1994-2012)
items: Exchange Rate Volatility and Economic Growth in Nigeria
items: The Double Burden of HIV/AIDS on Livelihoods in Akwa Ibom State, Nigeria
items: Militating Factors and Strategic Pathways for Nigeria's SocioEconomic Development in the 21st Century
items: The Impact of Small Arms and Light Weapons in the Indigene Settler Conflict in the Northern Senatorial Zone of Plateau State, Nigeria (2000-2012)
items: Community Policing and Crime Prevention in Nigeria
items: Borders Monitoring and Armed Banditry
items: Selected Macroeconomic Variables and Economic Growth in Nigeria
items: ESG-Driven Financing Strategy and Capital Structure Evolution
items: Economic Liberalisation and Employment Generation in Nigeria
items: Constitutionalising Infrastructure Governance
items: Agricultural Development and Sustainable Development Goal 2 in Akwa Ibom State
items: Entrepreneurial Skills and Operational Efficiency of Small-Scale Businesses in Akwa Ibom South Senatorial District
items: The Impact of Trade Balances and Inclusive Growth on Economic Development in Nigeria
items: Rural-Urban Migration and Criminal Activities in Uyo Local Government Area, Akwa Ibom State, Nigeria.
items: Optimal Government Debt and Economic Growth in Nigeria
items: Human Resource Diversity and Organisational Outcomes in Akwa Ibom State Secondary Education Board, Nigeria
items: Employee Relations and Organisational Productivity in Akwa Ibom State University

Examining the Financial Structure and Performance of Listed SMEs in Nigeria
type: item
description: Listed SMEs in the Alternative Securities Market have continued to perform below expectation in terms of profitability and return on investment, which made investors lose billions of Naira in the sector. Hence, many of these firms were delisted. This was in spite of the recent creation of these specialised boards for emerging and high-growth SMEs to access equity funds in the capital market to ease their financial need. It seemed that the optimal combination of this newly introduced equity with the hitherto used debt in their financial structure might pose a challenge, and that provided the motivation for this study. The main objective of this study was to examine the relationship between financial structure and the performance of listed SMEs in Nigeria. This relationship was examined after controlling for firm size and sales growth. An ex-post facto research design was adopted for the study. The population size was the 16 listed firms in these specialised boards. A sample size of 11 was selected based on the availability of their financial statements from 2012 to 2021. The independent variable was financial structure proxied by total debt to total equity ratio (TDTE), current ratio (CACL), long-term leverage ratio (LDTC), and total leverage ratio (TDTC). The dependent variable was financial performance measured by return on investment (ROI). The data were analysed using descriptive statistics, while the multiple regression technique was used to analyse the variables. From the analyses, TDTE indicated a negative, insignificant influence on ROI. The current ratio indicated a positive, insignificant influence on ROI, while both LDTC and TDTC indicated a negative, significant influence. It was concluded that financial structure has significant influence on the performance of listed SMEs in Nigeria. It is recommended that listed SMEs in Nigeria maintain a healthy leverage ratio, as too much debt may negatively influence their ROI. They should also devise new strategies …
subject: Articles
  topic: section
subject: Financial Structure
  topic: keywords
subject: Return on Investment
  topic: keywords
subject: Leverage Ratio,
  topic: keywords
subject: Liquidity Management
  topic: keywords
subject: Listed SMEs in Nigeria
  topic: keywords
creator: Adebimpe Umoren
creator: Inemesit Umoh
rights: Copyright (c) 2026 Author https://creativecommons.org/licenses/by/4.0
date: 2026-03-12
publication date: 2026-03-12
starting page: 123
ending page: 156

Strategies for Post-Conflict Peacebuilding in Africa
type: item
description: Building a lasting peace in a post-conflict environment is one of the most daunting challenges to global peace and security. Peacebuilding requires sustained international supports for national efforts across the broadest range of activities. These include monitoring cease-fire, demilitarizing, demobilizing, and reintegrating combatants, assisting the return of refugees and displaced persons, helping to organize and monitor elections of the new government, enhancing human rights protection and fostering reconciliation, etc. The United Nations has been at the center of expanding international peacebuilding efforts in all the continents of the world. These UN efforts have paid off handsomely, with Africa being one of the greatest beneficiaries. This paper examines the strategies for post-conflict peacebuilding in Africa. It raises questions on the conception, logic, origin, ideology, and practice of post-conflict peacebuilding in the continent. It argues that extant peacebuilding in Africa is wrongly embedded in peacekeeping, and some of the present peacebuilding efforts on the continent are geared toward negative rather than positive peace, and in most cases, it is usually influenced by actors outside the continent. It concludes that the existing logic and practice of peacebuilding in Africa is aimed at ‘stability’ (especially at the macro level) rather than change and security rather than lasting peace.
subject: Articles
  topic: section
subject: Conflicts
  topic: keywords
subject: Security
  topic: keywords
subject: Peacebuilding
  topic: keywords
subject: Peacekeeping
  topic: keywords
subject: African Union
  topic: keywords
creator: Anthony Umoh
creator: Victoria Okon
rights: Copyright (c) 2026 https://creativecommons.org/licenses/by/4.0
date: 2026-03-12
publication date: 2026-03-12
starting page: 123
ending page: 144

Microfinance Institutions and Entrepreneurship Development in Nigeria
type: item
description: With an emphasis on how microfinance services support business expansion, financial inclusion, and economic development, this study investigated the connection between microfinance institutions (MFIs) and the growth of entrepreneurship in Nigeria. Utilizing time series data from the National Bureau of Statistics (NBS), World Bank publications, and the Central Bank of Nigeria (CBN) Statistical Bulletin, the study used the Autoregressive Distributed Lag (ARDL) model to estimate both short- and long-term relationships and the Phillips-Perron test to evaluate stationarity. A long-term cointegrating link between the variables was validated using the boundaries test. According to the research findings, microfinance credits have a major positive impact on the development of entrepreneurship, whereas microfinance deposits have a short-term but long-term positive impact on entrepreneurship. While the short-term effects were large, the long-term benefits of the number of microfinance bank branches were negligible. Furthermore, GDP growth and inflation both have major long-term effects on the rise of entrepreneurship, with inflation having a short-term detrimental effect on the ease of doing business. By enhancing financial access, lowering transaction costs, encouraging business formalization, and fostering the expansion of micro, small, and medium-sized businesses (MSMEs), MFIs are a vital driver of entrepreneurship development in Nigeria, according to the study's findings. Nonetheless, inflation, in particular, and other macroeconomic instability can stifle entrepreneurship. In order to manage inflation, the report suggests expanding the number of microfinance bank branches, particularly in rural and semi-urban areas, as well as implementing coordinated fiscal and monetary policies. To promote inclusive, sustainable entrepreneurship and make doing business in Nigeria easier, the microfinance industry must be strengthened in conjunction with prudent macroeconomic management.
subject: Articles
  topic: section
subject: Microfinance Institutions (MFIs)
  topic: keywords
subject: Entrepreneurship Development
  topic: keywords
subject: Financial Inclusion
  topic: keywords
subject: Economic Growth
  topic: keywords
subject: Autoregressive Distributed Lag (ARDL) Model
  topic: keywords
creator: Edward Wasurum
rights: Copyright (c) 2026 Author https://creativecommons.org/licenses/by/4.0
date: 2026-03-12
publication date: 2026-03-12
starting page: 25
ending page: 52

Assessing the Impact of Tourism on Revenue Generation, Employment Creation, and SMEs in Akwa Ibom State, Nigeria
type: item
description: This study investigates the impact of tourism on revenue generation, employment creation, and the development of small and medium-sized enterprises (SMEs) from 2019 to 2023. Utilizing a descriptive research design and secondary data from government and tourism publications, the analysis shows that tourist activities significantly boost revenue through spending and hospitality services. It also highlights that tourism generates direct and indirect employment across various sectors, including hotels and entertainment. Furthermore, the sector fosters the growth of SMEs by creating opportunities for local entrepreneurs in trade and related businesses. Despite these benefits, challenges such as inadequate infrastructure, limited investment, and insufficient promotion of tourist attractions hinder the sector's full potential. The study suggests that government initiatives should focus on investing in tourism infrastructure, enhancing marketing strategies, and ensuring a safe environment to support tourism growth and optimize economic gains.
subject: Articles
  topic: section
subject: Tourism development
  topic: keywords
subject: revenue generation
  topic: keywords
subject: employment creation
  topic: keywords
subject: SMEs
  topic: keywords
subject: socio-economic development
  topic: keywords
subject: Akwa Ibom State
  topic: keywords
creator: Ubong Iyoho
creator: Ekong Daniel
creator: Unwana-Abasi Udoh
rights: Copyright (c) 2026 Author https://creativecommons.org/licenses/by/4.0
date: 2026-03-12
publication date: 2026-03-12
starting page: 99
ending page: 122

Rural Financial Systems and Economic Development in Akwa Ibom State, Nigeria
type: item
description: Rural communities are endowed with natural resources and manpower, but their potentials are not properly explored to improve the well-being of the people because of their inability to access loans. This study was conducted to examine rural financial systems and economic development in Akwa Ibom, Nigeria. It is imperative to note that through collective savings, 'Etibe' and 'Ozu,' the rural people have been able to assist themselves financially and also assist the communities through their contributions to rural projects. Survey design was used in this study with secondary data analyzed using descriptive statistics. This study was guided by functionalism theory. Findings from the study have revealed that rural people were able to assist themselves through various financial systems by accessing loans to support their businesses. Findings have further shown that through financial support and interest from these financial systems, rural people were able to contribute to rural development across communities. This study suggests, among others, urgent advocacy for the establishment of more rural financial institutions. Government grants should be given to these groups, and more training should be given to their personnel in line with modern financial operations.
subject: Articles
  topic: section
subject: Financial systems
  topic: keywords
subject: economic development
  topic: keywords
subject: loans
  topic: keywords
subject: poverty reduction
  topic: keywords
subject: sustainability
  topic: keywords
creator: Esara Victor
creator: Mfon Asuquo
creator: Anthony Edet
rights: Copyright (c) 2026 Author https://creativecommons.org/licenses/by/4.0
date: 2026-03-12
publication date: 2026-03-12
starting page: 53
ending page: 63

Dynamics of Indigene/ Settler Conflicts in the Northern Senatorial Zone of Plateau State, Nigeria (1994-2012)
type: item
description: The Northern Senatorial Zone of Plateau State is a multi-ethnic, multi-lingual, multi-cultural, and highly complex society. With groups both indigenous and settlers, the zone from 1994 to 2010 struggled to grapple with the intricacies of the indigenous/settler and ethno-religious dichotomy. The perennial violent conflict in the zone was always between the Hausa/Fulani settlers and indigenous ethnic groups. The Hausa/Fulani claim they deserve the indigeneship of the zone, having been active participants in the political, economic, and resource development of the area, thereby contributing immensely to the development of Jos as a modern city. The indigenous groups, on the other hand, regarded the Hausa/Fulani as settlers who migrated to the place for greener pastures when tin ore was a foreign exchange earner for Nigeria. This paper examines the dynamics of indigene/settler conflicts in Plateau North, its dimension, and the zero-sum nature in which one group wanted to gain and the other lose. The paper argues that what made the conflicts in the zone more complex was the multiplicity of factors such as ethnicity, religion, competition for scarce resources, and an attempt to gain and control political and economic space. It concludes that these negative dynamics hindered and frustrated the dividend of democracy in the zone, as lives and property were lost and scores rendered homeless in the conflicts.
subject: Articles
  topic: section
subject: Dynamics
  topic: keywords
subject: Conflicts
  topic: keywords
subject: Trends
  topic: keywords
subject: Indigene/Settler
  topic: keywords
subject: Hausa/Fulani
  topic: keywords
subject: Plateau North
  topic: keywords
creator: Anthony Umoh
creator: Victoria Okon
rights: Copyright (c) 2026 Author https://creativecommons.org/licenses/by/4.0
date: 2026-03-12
publication date: 2026-03-12
starting page: 1
ending page: 24

Exchange Rate Volatility and Economic Growth in Nigeria
type: item
description: Given the persistent fluctuations in the naira and their implications for investment, trade, inflation, and overall economic performance, it is imperative for monetary authorities to adopt policies that enhance exchange rate stability and support sustainable growth. It is against this backdrop that this study seeks to investigate the impact of exchange rate volatility and economic growth in Nigeria: an investigation of monetary policy effects, using secondary annual time series data from 1981 to 2024 from the Central Bank of Nigeria Statistical Bulletin and data from World Development Indicators (WDI). The dependent variable is real gross domestic product (RGDP), while real effective exchange rate (REER), broad money supply (M2), credit to private sector (CTS), interest rate (INT), inflation rate (INFL), foreign direct investment (FDI), and trade openness (TOP) were the independent and control variables, respectively. The test mechanisms adopted were the unit root test for co-integration and the Autoregressive Distributed Lag (ARDL) technique. Findings revealed that there is a positive and significant relationship existing between the real effective exchange rate, interest rate, credit to the private sector, and foreign direct investment in both the long and short run periods, suggesting that these variables contribute immensely to economic growth and monetary policy effectiveness in Nigeria when properly harnessed. However, broad money supply, inflation rate, and trade openness exhibited a shocking negative and insignificant relationship with economic growth in both periods, showing that during the period under review, the underlisted variables were not properly or adequately harnessed to bring about monetary policy effectiveness, thereby improving growth in Nigeria. Therefore, for policy, the study recommended that Government should strengthen the monetary policy transmission mechanism by improving credit flow to the productive sectors and enhancing financial mark…
subject: Articles
  topic: section
subject: real GDP
  topic: keywords
subject: real effective exchange rate
  topic: keywords
subject: broad money supply
  topic: keywords
subject: foreign direct investment
  topic: keywords
subject: interest rate
  topic: keywords
subject: inflation rate
  topic: keywords
subject: trade openness
  topic: keywords
creator: Edet Benson
creator: Edet Victor
creator: Benson Unyime
rights: Copyright (c) 2026 Author https://creativecommons.org/licenses/by/4.0
date: 2026-03-12
publication date: 2026-03-12
starting page: 64
ending page: 98

The Double Burden of HIV/AIDS on Livelihoods in Akwa Ibom State, Nigeria
type: item
description: Akwa Ibom State consistently ranks among the Nigerian states with the highest burden of HIV/AIDS, facing the dual challenge of addressing a public health crisis while mitigating its profound impact on livelihoods (NACA Spectrum Estimates, 2024). This study critically examines how the spread of HIV/AIDS directly and indirectly erodes diverse aspects of livelihood, including financial and human assets, social support systems, and overall productivity. A mixed-methods approach was employed, combining quantitative economic indicators with qualitative insights from community leaders and healthcare providers. The findings reveal significant economic distress manifested in rising healthcare expenditures, asset depletion, and the loss of productive labour. The study also highlights adverse social consequences such as stigmatisation, weakened social capital, and disrupted educational attainment, underscoring the systemic nature of the epidemic's impact. The study recommends the formulation of policies aimed at strengthening resilience, enhancing social support systems, and promoting sustainable livelihoods for individuals and households affected by HIV/AIDS in the state.
subject: Articles
  topic: section
subject: Sustainable livelihoods
  topic: keywords
subject: public health
  topic: keywords
subject: HIV/AIDS
  topic: keywords
subject: vulnerable populations
  topic: keywords
creator: Lucky Abogoh
creator: Rosemary Thomas
creator: Ezekiel Peter
creator: Austin Asuquo
creator: Cecilia Asuquo
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by/4.0
date: 2025-09-01
publication date: 2025-09-01
starting page: 36
ending page: 43

Militating Factors and Strategic Pathways for Nigeria's SocioEconomic Development in the 21st Century
type: item
description: Nigeria's quest for socio-economic development remains constrained by persistent structural, institutional, and policyrelated challenges. Despite abundant human and natural resources, the country continues to grapple with factors such as weak governance, corruption, political instability, insecurity, inadequate infrastructure, poor policy implementation, and overdependence on external economies. These militating factors have collectively hindered Nigeria's ability to achieve sustainable development outcomes in critical areas such as income distribution, employment generation, education, healthcare, technological innovation, and industrialisation. Anchored on the national interest, dependency, and game theories, this study interrogates the impediments that obstruct Nigeria's development trajectory and identifies practical strategies to address them. Employing a qualitative research design, with reliance on both primary and secondary sources, the research adopts a historical and descriptive approach to provide an in-depth analysis of these developmental constraints. Findings reveal that the entrenchment of corruption, policy inconsistency, insecurity, and weak institutions are central barriers that perpetuate socio-economic stagnation. However, the study also highlights feasible pathways for transformation, including the institutionalisation of good governance practices, strengthening of policy frameworks, diversification of the economy beyond oil, investment in human capital development, and the adoption of technology-driven innovations. It was concluded that without a decisive and coordinated strategy to dismantle these militating factors, Nigeria's socio-economic aspirations will remain elusive. The study therefore recommends an integrated framework of reform-driven governance, inclusive economic policies, infrastructural renewal, and security sector reforms, aimed at repositioning the country on a sustainable development path in the 21st century.
subject: Articles
  topic: section
subject: Foreign policy
  topic: keywords
subject: socio-economic development
  topic: keywords
subject: pathways
  topic: keywords
subject: Nigeria
  topic: keywords
creator: Nsikak Edet
creator: Verra John
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by/4.0
date: 2025-09-01
publication date: 2025-09-01
starting page: 1
ending page: 17

The Impact of Small Arms and Light Weapons in the Indigene Settler Conflict in the Northern Senatorial Zone of Plateau State, Nigeria (2000-2012)
type: item
description: This study investigates the impact of small arms and light weapons (SALWs) proliferation on the indigene–settler conflict in the Northern Senatorial Zone of Plateau State, Nigeria, between 2000 and 2012. It argues that the circulation of illicit arms intensified the frequency and lethality of violence, particularly within the ethno-religious dynamics that set indigenous groups against Hausa/Fulani settlers. Using [insert methodology, e.g., qualitative interviews, archival analysis, or conflict event data], the study finds that weak security institutions, insufficient political will, and the partisan role of security agencies facilitated arms availability and conflict escalation. The research concludes that unless Nigeria's security apparatus is comprehensively restructured to regulate arms possession and prosecute offenders, the cycle of violence is likely to persist.
subject: Articles
  topic: section
subject: Small Arms
  topic: keywords
subject: Light Weapons
  topic: keywords
subject: Proliferation
  topic: keywords
subject: Indigene-Settler and Plateau North
  topic: keywords
creator: Anthony UMOH
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by/4.0
date: 2025-09-01
publication date: 2025-09-01
starting page: 57
ending page: 76

Community Policing and Crime Prevention in Nigeria
type: item
description: Nigeria faces persistent security challenges ranging from armed robbery and kidnapping to terrorism, cybercrime, and communal violence. In Akwa Ibom State, these threats undermine public safety, weaken institutions, and disrupt socio-economic development. Conventional policing has proven inadequate, prompting interest in community policing as an alternative. Anchored on strategic policing theory, this study adopts a qualitative, historical–descriptive approach using secondary sources, including academic works, policy documents, and civil society reports. Findings reveal that community policing enhances police–citizen trust, improves intelligence gathering, and fosters proactive crime prevention. However, weak institutional capacity, corruption, inadequate officer training, public distrust, and Nigeria's over-centralised policing structure limit its effectiveness. The study argues that while community policing is not a cure-all, systematic implementation, supported by decentralisation, improved police–community relations, inter-agency collaboration, and modern crimemapping technologies, can significantly reduce crime and strengthen social stability. Beyond Akwa Ibom, the research contributes to debates on security sector reform in developing democracies, emphasising the need to reframe policing as a shared responsibility between the state and communities to safeguard lives, property, and sustainable development.
subject: Articles
  topic: section
subject: community policing
  topic: keywords
subject: crime prevention
  topic: keywords
subject: security reform
  topic: keywords
subject: Akwa Ibom State
  topic: keywords
subject: Nigeria
  topic: keywords
creator: Ifiok Umanah
creator: Unwana-Abasi Udoh
creator: Imoh Imoh-Ita
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by/4.0
date: 2025-09-01
publication date: 2025-09-01
starting page: 18
ending page: 35

Borders Monitoring and Armed Banditry
type: item
description: Border insecurity in the Republic of Niger has been exacerbated by porous entry points, weak institutional capacity, and inadequate surveillance, creating conditions for armed banditry, insurgency, and cross-border criminality. Despite government interventions, responses have been slow, costly, and largely ineffective, fuelling public scepticism about the state's capacity to guarantee safety and stability. This study examines the relationship between border monitoring and armed banditry as a central c h a l l e n g e t o p e a c e i n N i g e r. D r a w i n g o n frustration–aggression, resource access, and conspiracy theories, and employing a historical–descriptive method with secondary data, it identifies key drivers of banditry, including the proliferation of small arms, the influx of excombatants from neighbouring conflict zones, and rising youth unemployment. Findings reveal that weak surveillance, corruption at border points, and ungoverned rural spaces enable bandits to mount violent attacks, disrupt livelihoods, and intensify displacement. The study concludes that an effective response requires a multidimensional approach: integrating technology into border management, institutionalising intelligence-sharing and coordinated patrols with neighbouring states, and addressing socioeconomic triggers through employment creation and community engagement. Strengthening these measures is vital for safeguarding Niger's territorial integrity and promoting sustainable peace.
subject: Articles
  topic: section
subject: border security
  topic: keywords
subject: armed banditry
  topic: keywords
subject: porous borders
  topic: keywords
subject: peace
  topic: keywords
subject: stability
  topic: keywords
subject: Niger
  topic: keywords
creator: Nsikak Edet
creator: Anwana Etim
rights: Copyright (c) 2025 https://creativecommons.org/licenses/by/4.0
date: 2025-09-01
publication date: 2025-09-01
starting page: 44
ending page: 56

Selected Macroeconomic Variables and Economic Growth in Nigeria
type: item
description: This study examines the impact of specific macroeconomic factors on economic growth in Nigeria from 1981 to 2024. Per capita income is used as an indicator of economic growth, with the Johansen cointegration method and an error correction model (ECM) employed to analyse the dynamic interrelationships among exchange rate, inflation, trade openness, and balance of payments. Unit root tests indicate that all variables are integrated of order one, validating the use of cointegration analysis. The Johansen test reveals three cointegrating vectors, signifying a long-term equilibrium relationship among the variables. Long-term estimates indicate that the exchange rate adversely affects economic growth, while inflation and trade openness have a positive influence. In the short term, the error correction term is correctly signed and significant, indicating convergence to long-run equilibrium at an annual adjustment rate of 24%. In addition, the lagged values of trade openness and balance of payments exert a favourable impact on short-term economic growth. The findings underscore the importance of macroeconomic stability, especially in exchange rate regulation, inflation management, and trade policy, for promoting sustained economic growth in Nigeria. The study advocates for measures that encourage trade liberalisation, maintain moderate inflation, and improve external sector performance to support long-term economic development.
subject: Articles
  topic: section
subject: Macroeconomic variables
  topic: keywords
subject: economic growth
  topic: keywords
subject: Nigeria
  topic: keywords
subject: per capita income
  topic: keywords
creator: Esther Oriji
creator: Edward Wasurum
rights: Copyright (c) 2025
date: 2025-08-31
publication date: 2025-08-31
starting page: 80
ending page: 108

ESG-Driven Financing Strategy and Capital Structure Evolution
type: item
description: This research investigates how Tesla Inc. transformed conventional corporate financing approaches through the strategic integration of Environmental, Social, and Governance (ESG) principles between 2010 and 2024. Through comprehensive financial analysis and strategic assessment, the study examines Tesla's evolving capital structure, highlighting how sustainability-oriented strategies influenced investor relations, debt capacity, and equity valuation. The findings indicate that Tesla's genuine commitment to ESG generated significant financing advantages, including a 460-basis-point reduction in borrowing costs, 52 per cent institutional ESG fund holdings, and access to specialised green capital markets. The company's transition from a venture-backed start-up to a profitable industry leader illustrates how ESG positioning can yield measurable capital market benefits. Tesla's exclusive focus on electric vehicles mitigated stranded asset risks and provided natural hedges against carbon-pricing regulations. The results suggest that authentic ESG integration fundamentally reshapes traditional models of capital structure optimisation, creating sustainable competitive advantages in contemporary financial markets. This analysis offers valuable insights for organisations seeking to leverage sustainability positioning for financial competitiveness while simultaneously addressing global sustainability challenges.
subject: Articles
  topic: section
subject: Mathematical Modeling
  topic: keywords
subject: Corporate Finance
  topic: keywords
subject: ESG
  topic: keywords
subject: Tesla
  topic: keywords
subject: Sustainable Finance
  topic: keywords
subject: Educational Framework
  topic: keywords
creator: Pamela Bakare
creator: Jie Zhou
rights: Copyright (c) 2025
date: 2025-08-31
publication date: 2025-08-31
starting page: 62
ending page: 79

Economic Liberalisation and Employment Generation in Nigeria
type: item
description: The relationship between economic liberalisation and employment is of growing significance to policymakers, particularly in developing countries. This has become a veritable source of public debate, and the scope of that debate is broadening. Economic liberalisation is a m u l t i d i m e n s i o n a l c o n c e p t e n c o m p a s s i n g telecommunications, trade, finance, and other sectors. This study investigates the relationship between economic liberalisation and employment generation in Nigeria from 1985 to 2023 using the auto-regressive distributed lag (ARDL) bounds testing approach. Labour force participation rate is used to measure employment generation, while current account as a ratio of GDP, real exchange rate, foreign direct investment as a ratio of GDP, and trade openness are used to measure economic liberalisation. The unit root test is conducted using the Augmented Dickey-Fuller test. The results reveal that all the variables are integrated of order one, except FDI, which is integrated of order zero. The CUSUM and CUSUMSQ stability tests show that all the parameters in the error correction model are dynamically stable. The empirical results of the ARDL model indicate mixed effects. The liberalisation of the current account reveals a significant long-run negative relationship with employment generation. However, the liberalisation of exchange rate, foreign direct investment, and trade openness enhances the level of employment generation in Nigeria. The Granger causality test indicates that causality runs from labour force participation rate to foreign direct investment. The study concludes that economic liberalisation significantly promotes employment generation in Nigeria. Therefore, it recommends that policies should be targeted at promoting foreign direct investment, export promotion strategies, and the creation of a conducive environment for investment.
subject: Articles
  topic: section
subject: Economic Liberalisation
  topic: keywords
subject: Employment Generation
  topic: keywords
subject: Auto-regressive Distributed Lag (ARDL)
  topic: keywords
subject: Current Account and Labour Force Participation Rate
  topic: keywords
creator: Godwin Ekpo
creator: Imowo Udobia
rights: Copyright (c) 2025
date: 2025-12-01
publication date: 2025-12-01
starting page: 34
ending page: 58

Constitutionalising Infrastructure Governance
type: item
description: Infrastructure is a foundational pillar of national development; however, the governance architecture underpinning its planning and delivery in Nigeria is often characterised by fragmentation, politicisation, and implementation gaps. This study critically examines whether infrastructural policy in Nigeria is most effective when expressed as a binding legal framework, a strategic master plan, or a hybrid of both. Employing a qualitative, doctrinal, and comparative research design, the paper analyses statutory instruments and planning documents from Nigeria, the United Kingdom, and Singapore. The analysis is framed by Institutional Theory, New Public Management, and Developmental State Theory. Findings reveal that purely strategic blueprints, such as Nigeria's National Integrated Infrastructure Master Plan (NIIMP), while visionary, lack the enforceability and continuity required to withstand political transitions and administrative changes. By contrast, legal frameworks such as the UK's Planning Act and Singapore's statutory master plans provide regulatory clarity, cross-party legitimacy, and institutional resilience. The paper proposes that Nigeria adopt a hybrid model by elevating infrastructural policy to a constitutional-like status through the enactment of a National Infrastructure Development Act. This would codify planning instruments into law, institutionalise implementation structures, and secure long-term alignment with national and global development goals. The recommendations include legislative codification, enhanced intergovernmental coordination, targeted capacity building, and judicial recognition of infrastructure as a public good. By advancing a governance model that transcends partisan, ethnic, and administrative divides, the study offers a durable framework for infrastructure-led national transformation in Nigeria and other comparable developmental contexts.
subject: Articles
  topic: section
subject: infrastructural policy
  topic: keywords
subject: legal framework
  topic: keywords
subject: national development
  topic: keywords
subject: blueprint
  topic: keywords
subject: policy implementation
  topic: keywords
subject: institutional coordination
  topic: keywords
creator: Victor Etim
rights: Copyright (c) 2025
date: 2025-08-31
publication date: 2025-08-31
starting page: 19
ending page: 32

Agricultural Development and Sustainable Development Goal 2 in Akwa Ibom State
type: item
description: Food security is paramount for the development of any nation. A healthy population makes up a healthy workforce; thus, it is pertinent for government to initiate and implement agricultural programmes capable of improving food production, accessibility, and affordability. Akwa Ibom State is endowed with vast arable land for agriculture; however, these lands are not effectively utilised to address food insecurity. The state still largely depends on other states for food consumption, as the bulk of garri, beans, rice, millet, and maize, among others, are externally sourced. Despite the existence of various agricultural programmes, the agricultural sector in Akwa Ibom State continues to grapple with issues such as low productivity, limited access to resources, and lack of effective implementation and coordination, thereby hampering its ability to contribute to sustainable development. This paper assessed the impact of the Akwa Ibom Agricultural Development Programme (AKADEP) on achieving SDG 2 in Akwa Ibom State, which focuses on reducing hunger, improving food availability, enhancing nutrition, and promoting sustainable agriculture. Sustainable agriculture theory was adopted as the theoretical framework to guide the study. The study employed descriptive and documentary methods. It was found that the majority of Nigerians, including Akwa Ibom residents, live on less than USD 1 per day, which is insufficient to meet the daily dietary intake approved by the United Nations. Data from the National Bureau of Statistics indicated a high level of food inflation in Akwa Ibom State, resulting in widespread hunger due to the high poverty rate. The study recommended, among other measures, that government should properly monitor and fund agricultural programmes to achieve the envisaged objectives.
subject: Articles
  topic: section
subject: Agriculture
  topic: keywords
subject: Agricultural Programmes
  topic: keywords
subject: Food Security
  topic: keywords
subject: Sustainable Development
  topic: keywords
creator: Benjamin Washington
creator: B. C. Onuoha
creator: Udoyiu Udoyiu
creator: Itoro Ebong
rights: Copyright (c) 2025 INTERNATIONAL JOURNAL OF FINANCE, MANAGEMENT AND GOVERNANCE
date: 2025-08-30
publication date: 2025-08-30

Entrepreneurial Skills and Operational Efficiency of Small-Scale Businesses in Akwa Ibom South Senatorial District
type: item
description: The study examined the influence of entrepreneurial skills on the operational efficiency of small-scale businesses in Akwa Ibom South Senatorial District, Nigeria. Two research questions and two hypotheses, derived from the study's specific objectives, guided the investigation. A descriptive survey design was adopted. The population comprised 890 managers of small-scale businesses in the district, from which a sample of 274 was drawn using the Taro Yamane formula. A simple random sampling technique was employed in selecting the participants, and data were collected using a researcher-developed instrument titled Entrepreneurial Skills and Operational Efficiency of SmallScale Businesses Questionnaire (ESOESSBQ). The instrument was face-validated by three research experts. Its reliability was established using Cronbach's Alpha, yielding a coefficient of 0.85, indicating an acceptable level of internal consistency. Data were analysed using simple linear regression, and the hypotheses were tested at the 0.05 level of significance. The analysis revealed, among others, that marketing skills and innovative skills had a very low level of influence on the operational efficiency of small-scale businesses in the study area. Based on the findings, it was recommended, among others, that the state government should organise seminars and workshops to train and equip managers of small-scale enterprises with marketing skills to enhance the effective operation of their businesses in Akwa Ibom South Senatorial District.
subject: Articles
  topic: section
subject: Entrepreneurial skills
  topic: keywords
subject: marketing skills
  topic: keywords
subject: innovative skills
  topic: keywords
subject: small scale businesses
  topic: keywords
subject: operation
  topic: keywords
creator: Otobong UKPOHO
creator: Uyai AKPANOBONG
creator: Etieneabasi OTU
rights: Copyright (c) 2025
date: 2025-07-31
publication date: 2025-07-31
starting page: 1
ending page: 16

The Impact of Trade Balances and Inclusive Growth on Economic Development in Nigeria
type: item
description: This study investigates the combined impact of trade balances, inclusive growth, and economic development. Accordingly, an inclusive growth index was computed for Nigeria using ten indicators through principal component analysis in EViews 9 to examine how trade balance and inclusive growth variables impact economic development. The error correction mechanism and autoregressive distributed lag model were employed to estimate the effect of trade balances and the inclusive growth index on economic development, given the order of integration. The results revealed a negative relationship between the inclusive growth index, openness, exchange rate, inflation rate, interest rate, and economic development in Nigeria. Conversely, a positive relationship was found between the balance of payments, foreign direct investment, reserves, capital market, total labour force, and economic development in both the long and short run. Overall, the model was relevant in explaining the dynamics of trade balances and inclusive growth in Nigeria, with a relatively high explanatory power of approximately 53 percent for the per capita gross domestic product equation. The paper recommends that the government consciously direct policy actions towards enhancing inclusivity in economic growth and trade balances to achieve their full potential and improve economic development in Nigeria. This should be facilitated by promoting specialisation in the export of primary commodities that match imports, improving capital market efficiency, creating employment through a well-managed labour force, and reducing poverty, inflation, and interest rates. A balanced trade policy that enhances inclusivity in economic growth is essential for sustainable development in Nigeria.
subject: Articles
  topic: section
subject: Inclusive growth
  topic: keywords
subject: foreign direct investment
  topic: keywords
subject: exchange rate
  topic: keywords
subject: interest rate
  topic: keywords
subject: poverty
  topic: keywords
subject: per capita gross domestic product
  topic: keywords
subject: economic development
  topic: keywords
creator: Victor Ebiefie
creator: Benson Ekpenyong
rights: Copyright (c) 2025
date: 2025-07-31
publication date: 2025-07-31
starting page: 106
ending page: 123

Rural-Urban Migration and Criminal Activities in Uyo Local Government Area, Akwa Ibom State, Nigeria.
type: item
description: This study examines the socio-economic factors contributing to the rise in criminal activities in Uyo Local Government Area. The area faces challenges such as low educational attainment, high unemployment rates, and inadequate infrastructure, all of which exacerbate crime rates. The research investigates the trend of criminal activities, identifies their root causes, assesses their impact on the community, and proposes effective prevention strategies. The study is guided by Siddique's (2015) urbanisation-crime linkage theory, which posits that urbanisation fosters social disorganisation, thereby increasing the incidence of crime. A social survey research design was employed, with a sample size of 300 respondents drawn from a population of 1,393,450, as reported by the World Population Review (2025). Taro Yamane's formula was used to determine the sample size, and random sampling ensured minimal bias. Structured questionnaires comprising demographic data and research questions served as the primary research instrument. Both primary and secondary data sources were utilised, while data analysis was carried out using simple percentages and chisquare tests to evaluate the hypotheses. The findings revealed that rural-urban migration significantly influences the trend of criminal activities in Uyo, with unemployment and poverty identified as key drivers. To address these challenges, the study recommends that both federal and state governments prioritise the development of rural communities through the provision of basic infrastructure such as electricity, potable water, and motorable roads. Furthermore, the establishment of local industries is advocated to create employment opportunities and reduce the pressure on urban centres, thereby helping to curb the rise in criminal activities.
subject: Articles
  topic: section
subject: Rural
  topic: keywords
subject: Urban
  topic: keywords
subject: Migration
  topic: keywords
subject: Criminal activities
  topic: keywords
creator: Mfon Asuquo
creator: Anietie UDOH
creator: Idongesit Johnson
creator: Enyongama THOMAS
rights: Copyright (c) 2025
date: 2025-07-31
publication date: 2025-07-31
starting page: 83
ending page: 105

Optimal Government Debt and Economic Growth in Nigeria
type: item
description: Developing economies rely on government debt to finance budget deficits. Nevertheless, debt incurred beyond a certain limit becomes detrimental to the economy. This study examined the optimal point beyond which government debt impairs economic performance in Nigeria, using annual time series data from various issues of the Statistical Bulletin of the Central Bank of Nigeria, the Debt Management Office, and data from the World Development Indicators (WDI). Gross Domestic Product (GDP) was used as a proxy for economic growth and served as the dependent variable, while external debt, domestic debt, debt servicing, interest rate, exchange rate, capital (proxied by gross capital formation), labour (proxied by the labour force participation rate), and foreign capital inflow (proxied by foreign direct investment) were considered as independent variables. The test mechanisms adopted were the unit root test, the bounds test for cointegration, and the Autoregressive Distributed Lag (ARDL) technique. The study revealed a debt inflection point for external debt in Nigeria at 66.1 percent and 43 percent for domestic debt, implying that beyond these points, external and domestic debts are not sustainable. The policy implication of this study is the need for the government to ensure that public debt management policies align with the established debt-growth maximising threshold. Moreover, the government is encouraged to implement fiscal reforms that would support improved public debt management
subject: Articles
  topic: section
subject: External debt threshold level
  topic: keywords
subject: domestic debt threshold level
  topic: keywords
subject: economic growth, debt servicing, ARDL
  topic: keywords
creator: Benson Ekpenyong
creator: Uduak Ekong
rights: Copyright (c) 2025
date: 2025-07-31
publication date: 2025-07-31
starting page: 40
ending page: 66

Human Resource Diversity and Organisational Outcomes in Akwa Ibom State Secondary Education Board, Nigeria
type: item
description: This study examined the influence of human resource diversity (HRD) on organisational outcomes within the State Secondary Education Board in Uyo, Akwa Ibom State, Nigeria. Specifically, it assessed how workforce diversity across gender, age, ethnicity, and educational qualifications relates to job satisfaction, retention intention, and perceived service quality. Anchored on social identity, equity, and cognitive diversity theories, the study employed a quantitative correlation survey design. A stratified random sample of 140 staff members participated, with data collected via structured questionnaires and analysed using descriptive statistics, Pearson's correlation, and multiple regression techniques. The results revealed generally positive perceptions of organisational outcomes, with service quality receiving the highest ratings. However, regression analyses showed no statistically significant relationship between the diversity dimensions and the outcomes measured. These findings suggest that while demographic diversity is present, it does not independently predict job satisfaction, retention, or service effectiveness in the context studied. The study concludes that non-demographic factors may play a more influential role in shaping staff experiences and recommends a broader human resource strategy that integrates inclusive leadership, recognition systems, and organisational climate assessments. This research contributes context-specific evidence to Nigeria's public sector diversity discourse and highlights the need for more nuanced approaches to diversity management in educational administration.
subject: Articles
  topic: section
subject: human resource diversity
  topic: keywords
subject: job satisfaction,
  topic: keywords
subject: retention
  topic: keywords
subject: service quality
  topic: keywords
subject: education board,
  topic: keywords
subject: Akwa Ibom State
  topic: keywords
creator: Nathaniel Udoh
rights: Copyright (c) 2025
date: 2025-07-31
publication date: 2025-07-31
starting page: 68
ending page: 82

Employee Relations and Organisational Productivity in Akwa Ibom State University
type: item
description: This study examines the relationship between employee relations and organisational productivity at Akwa Ibom State University (AKSU), Nigeria, with a focus on communication, reward systems, and participatory management. The objectives were to (1) assess employee relations practices, (2) evaluate their impact on performance, (3) determine their influence on productivity, and (4) identify implementation challenges. Grounded in social exchange theory (Blau, 1964), the study employed a quantitative survey design, collecting data from 367 staff via a structured questionnaire. Findings revealed moderate effectiveness in employee relations practices, with work-life balance initiatives scoring highest (mean=2.78) and participatory management lowest (mean=2.43). Reward systems and communication were perceived as inequitable, aligning with Equity Theory (Adams, 1965), while limited staff involvement in decision-making underscored gaps in Psychological Ownership Theory (Pierce et al., 2001). The study concludes that AKSU's productivity is hindered by bureaucratic inefficiencies and inconsistent policy implementation. Recommendations include strengthening communication channels, ensuring equitable rewards, and institutionalising participatory governance. These measures could enhance staff motivation and institutional performance in similar academic settings.
subject: Articles
  topic: section
subject: employee relations
  topic: keywords
subject: organisational productivity
  topic: keywords
subject: AKSU
  topic: keywords
subject: participatory management
  topic: keywords
creator: Odungide Odungide
creator: Calixtus Daniel
creator: Nnamdie Kierian
creator: Mbuk Mboho Mbuk
rights: Copyright (c) 2025
date: 2025-07-31
publication date: 2025-07-31
starting page: 17
ending page: 39