The lack of precise methodology to determine the capital structure mix on firm performance has generated a lot of mixed results. Empirical studies from emerging nations revealed a scarcity of empirical findings on the measures with a significant impact on firm performance. This paper examines capital structure measures on manufacturing firm's performance in Nigeria. Using annualized panel data for a sample of 15 quoted firms from diverse sectoral classifications from 1999-2018. Excluding the financial firms due to the uniqueness of their capital structure and the strict legal requirements for their financing choices. This study focus on non-financial firms. Capital structure measures book value and market value of the firm. Results indicate that performance proxy by ROE, and Tobin's Q, significantly influence SDTA, SIZE, LDTA, and TDTA while ROA negatively influences LDTA, D_E, and TDTA. Findings revealed a robust relationship between Tobin's Q and financial performance compared to other book value. Tobin's Q is a better measure of performance within the period under review. The study reveals that Nigerian firms are keenly financed by shortterm debt supporting the Pecking Order Theory. It's vital to note that no single theory can sufficiently explain the capital structure effect on firm performance.

Purpose of study: This study examines security expenditure as an economically contributive or a non-contributive expenditure on human capital development and economic growth in Nigeria. Methodology: Adopting the ARDL bounds test and Error Correction Model (ECM) on quarterly time-series data from January 2010-December 2018. Result: The findings and results indicate that security expenditure is economically a contributive expenditure. In the long-run a positive and significant impact on economic growth and human capital development, in the shot-run a negative relationship. The ECM model conveyed the speed of convergence from disequilibrium in the short-run back to long-run equilibrium by 86% quarterly. Implication/Application: The finding and results have critical implications for the government and policymakers, protection of life, properties, economic, and business assets positively stimulate economic growth. A unit increase in government expenditure on human capital development decreases insecurity and increase economic growth. Novelty/Originality of this study: Previous studies conducted globally and in Nigeria reported diverse results on the co-integrating relationship between security expenditure and economic growth, using diverse variables and annualized time series data predominantly. This study differs from the previous studies to adopt quarterly time-series data, the ARDL, and the ECM models as the major techniques of analysis along with a battery of pre-test and diagnostic tests.