I. O. Onwuka

Bio: I. O. Onwuka is an academic researcher from University of Nigeria, Nsukka. The author has contributed to research in topics: Gross domestic product & Tax revenue. The author has an hindex of 2, co-authored 2 publications receiving 19 citations.

Resolving Nigerias dependency on oil The derivation model

Abstract: Since the discovery of oil in commercial quantity in Nigeria in 1956 and the oil boom of 1970s, oil has dominated the economy of the country. Oil accounts for more than 90 percent of the country’s exports, 25 percent of the Gross Domestic Product (GDP), and 80 percent of government total revenues. As a result, the economy of the country has been substantially unstable, a consequence of the heavy dependence on oil revenue, and the volatility in prices. The oil boom of the 1970s led to the neglect of agriculture and other non-oil tax revenue sectors, expansion of the public sector, and deterioration in financial discipline and accountability. In turn, oil-dependence exposed Nigeria to the vagaries associated with oil price volatility which threw the country’s public finance into disarray. Moreover, since oil revenue dominates Nigeria’s Federation Account, the sharing of oil rents govern intergovernmental fiscal relations in the country with an on-going tension between agitations by oil producing states for greater share of resources and demands for redistribution from other regions, particularly relatively less endowed ones. In this paper, the authors argue for a rethink in the current revenue sharing formula in Nigeria in favor of derivation. This will reduce ongoing tensions in the distribution of proceeds from oil between the federal government and states on one hand and between the federal government and oil producing states in Nigeria on the other hand. The authors argued for a rollback to the era when states/regions were accorded 50% retention of any proceeds accruing from their areas. This will make every state/region in Nigeria to look inwards and explore other resources that abound in their areas and will also help to diversify the economy of Nigeria away from oil. Key words: Oil dependency, economic diversification, derivation formula, economic development.

Microfinance Banks and Rural Development: The Nigeria Experience

Abstract: The Central Bank of Nigeria (CBN) launched the microfinance banking scheme on December 2005 as part of government strategies to achieve one of the cardinal agendas of the Millennium Development Goa...

SME financing innovation and SME development in Bangladesh: an application of ARDL

Abstract: With this study, we try to explore new evidence about financial innovation in small and medium enterprises (SME) financing impact on SME development in Bangladesh from 1985 to 2016. To bring insigh...

Micro-credit as catalyst for improving rural livelihoods through agribusiness sector in Indonesia

Abstract: This paper aims to analyse a simultaneous role of micro-credit in intensive farming to improve rural prosperity and to determine factors affecting farmers to access micro-credit and to adopt technologies.,This paper uses a concept of technological change as the underlying theory. The analysis is conducted using structural equation modelling based on data compiled from a survey that interviewed 220 of farm-households. Samples of the study were randomly selected from chili farming community in three regions of Java in 2013-2014.,The results show that micro-credit provides positive direct and indirect impacts on rural prosperity. The indirect effect of micro-credit was due to a mediation of technology adoption. Farmers’ personalities and agribusiness environment determined farmers’ decision to access micro-credit and to adopt the technology.,Policymakers should introduce more advanced technology and provide credit facilities at the same time to ensure technology adoption and welfare improvement of the community.,Using structural equation modelling enables analysis of simultaneous regression models. Along with technology here, micro-credit played roles as catalyst and reagent in improving rural livelihood.

Relevance of Financial Sector Development on Real Sector Productivity: 21 st Century Evidence from Nigerian Industrial Sector

Abstract: This study focuses on the Nigerian industrial sector to examine the relevance of financial sector development on real sector productivity in the 21 st century. The model adapts the financial sector development measures used in King and Levine (1993) as predictors of industrial sector production output. Estimating the model with Ordinary Least Square (OLS) method, the study reveals that there is a strong linear relationship between the financial sector and real sector because the coefficient of multiple determinations is relatively high; thus suggesting that financial sector development is crucial for real sector productivity.

Microcredit and technology adoption: Sustained pathways to improve farmers’ prosperity in Indonesia

Abstract: The purpose of this paper is to analyze the impact of microcredit and agronomic technology on farm households’ prosperity, and to determine important factors affecting farmers’ access to microcredit and technology adoption in Indonesian intensive farming,The focus of the study was farmers engaging with chili-based agribusiness in rural areas Data for this study were compiled from a survey that interviewed 250 farm households Samples of the study were randomly selected from chili farming community in three regions of Java during 2013–2014 Data were analyzed using structural equation modeling (SEM),Microcredit provided positive direct and indirect impacts on household prosperity Microcredit indirectly impacted the well-being through the mediation of technology adoption Farmers’ characteristics and agribusiness environment determined farmers’ decision to access microcredit and adopt advanced technology Microcredit and technology have enhanced farmers’ well-being through pathways that enabled farmers to develop farming scale,The government should offer more alternatives to advanced technology and flexible procedures of access to credit at the same time to ensure sustained pathways of rural economic growth in Indonesia,This paper applied a SEM to a proposition of simultaneous causal interrelations among microcredit, technology and farmers’ prosperity

Risk management in microfinance : identities, perceptions, behaviours and interests of microfinance stakeholders in Plateau State, Nigeria

Abstract: Studies on microfinance risk management in Nigeria are inclined to quantitative analysis of risk based on business and accounting principles without recourse to understanding and interpreting meanings from the lived experiences of relevant stakeholders. This thesis is an in-depth study of the contexts (economic, political, social and cultural) in which stakeholders interpret and manage risks based on a case study of two microfinance institutions (MFIs)-a microfinance bank (MFB) and a non-bank MFI (NMFI) in Plateau State, Nigeria. It is predicated on the understanding that risks are subjective and interpreted by stakeholders- board members, investors, staff, clients and community leaders as distinct entities. It aligns with the interpretivist philosophy in examining how meanings are created from experiences which are embedded in the contexts in which stakeholders engage with MFIs. Drawing on the Social Theories of Risk and Stakeholder Theory, this study adopts a qualitative approach and case study research design using data obtained from document reviews, observation, 33 individual interviews and 3 focus group discussions with purposefully selected stakeholders. Thematic analysis was facilitated using NVivo, a Computer-Aided Qualitative Data Analysis Software (CAQDAS), to generate and discuss themes based on participants’ perspectives. Its major findings show that risks are conceptualized in terms of unforeseen eventualities underpinned by social complexities in MFIs’ lending to micro clients which make their sustainability and outreach problematic. Major sources of risks for MFIs in the state addressed in this thesis include; low repayment rates, diversion or misuse of loans by clients, low level of knowledge and skills by practitioners, competition with commercial banks, inadequate support by the government, poor customer relationship management, low adoption of financial technology, influence of patriarchy, political interferences, recurring ethno-religious conflicts, poor orientation and awareness of the social mission of microfinance. Furthermore, the study found that risk management in the MFIs studied is hampered by their ownership structures and operating methodologies. The originality and contribution to knowledge of this thesis lie in developing a framework for subjective risk management in microfinance embedded in the identities, perceptions, behaviours and interests of stakeholders within the context of the study.