The paper examined the impact of monetary policy on economic growth in Nigeria by developing a model that is able to investigate how monetary policy of the government has affected economic growth through the use of multi-variable regression analysis. We proxied the variables of monetary policy instruments to include: Money Supply (MS), Exchange Rate (ER), Interest Rate (IR), and Liquidity Ratio (LR). Economic growth was represented by Gross Domestic Product (income) at constant prices. Unit root test was conducted and all our estimating variables were stationary at first difference except the component of interest rate which shows that our model interpretation would not be spurious and a true representation of the relationships that exists between the explained and explanatory variables. Error Correction Model was introduced in our estimation in order to have a parsimonious model. From our result, two variables (money supply and exchange rate) had a positive but fairly insignificant impact on economic growth. Measures of interest rate and liquidity ratio on the other hand, had a negative but highly significant impact on economic growth which supports the assertion by Busari et al. (2002) that monetary policies are better suited when they are used in targeting inflation rather than in stimulating growth. In addition, Engle-Granger co-integration test was done and showed the existence of a long run relationship between monetary policy and economic growth in Nigeria. Finally, granger causality test was done on our variables and the results showed the existence of a uni-directional causality between money supply and economic growth, economic growth granger causing liquidity ratio and exchange rates while a bi-directional causality exists between interest and economic growth. We recommend that partial autonomy should be replaced with full autonomy for the central banks in Nigeria which is invariably subjected to government interference and its politics. Finally, monetary policies should be used to create a favorable investment climate by facilitating the emergency of market based interest rate and exchange rate regimes that attract both domestic and foreign investments. Subject Areas Economics KeywordsMonetary Policy, Economic Growth, Engle-Granger, Instruments Background to the StudyMonetary policy as defined by many authors is concerned with discretionary control of money supply by monetary authorities (Central Bank with Central Government) with a view of achieving stated or desired economic objectives.Most governments try to control the rate of growth of money supply because of the nexus that it has an effect on the rate of inflation.In sum, monetary policies consist of those actions designed to influence the behavior of the monetary sector. Statement of ProblemOver Research QuestionsIn light of this, therefore, the questions to guide this research study include the following:1) Why has the monetary policies of the Central Bank through its instruments and targets not have any significant impact on econ...

This study assessed the level of ergonomics inclusions into small-scale industries (SSI) in Southwest Nigeria. The objective was to find out the type of ergonomics control measures (ECM) put in place to enhance occupational and health safety of workers. Machine hazard and safety checklists were used to carry out assessment of hazards control level of different machineries in 121 SSI. By observation, scores were assigned by research personnel team (RPT) to safety levels under engineering, administrative and personal protective measures of all operational machines and the workplace designs. Questionnaire was completed among 345 workers to measure occupation hazard (past or present) among the workers and various ECM adopted by the administrators and/or the workers to prevent injuries. SPSS version 16.0, was used to analyze the recorded data. 50.2% of all SSI were rated poor (insufficient HCM). Sandcrete block industry (SCBI) had the worse percentage (90.4%). 19.2% used engineering, 18.3% engaged personal protective while 10.2% used administrative measures. However, 1.6% used the combined measures. The mean of the rated SSI with poor ECM programme by RPT are significantly not different from that reported by SSI employees (t(24) =-0.563, p = 0.579). SCBI workers had the highest percentage (17.2%) of the reported work related injuries followed by printing press (17%), welding and/or metal cutting workshops (16.7%). The study concluded that ECM inclusion into SSI operations is very low and this may have lead to the high reported ergonomics hazards among the group of workers.