This paper decomposes and estimates the impact of foreign trade on economic growth and evaluates the relevance of financial openness in the relationship in Nigeria using annual time series data between 1987 and 2020. The key findings of the paper are that although trade positively drives economic growth, the effect is due largely to the contribution of the non-oil export component in the long run and short run. This, however, does not rule out the fact that non-oil import over the long run and short run or the overall value of import in the long run lead to a high economic growth in the economy provided higher degree of financial openness is tolerated. In that, subject to broadening the scope of financial openness, Nigeria’s participation in international trade will result in rapid economic growth both in the long run and short run.

This study seeks to determine the impact of public health financing on health outcomes, and also, determine the impact of health outcomes on labour productivity and economic growth by collecting data on the relevant variable between 1981 and 2021 and employing the Two-Stage Least Squares (2SLS) approach. The study found that: rising public health spending significantly improves health outcomes including infant mortality, neonatal mortality and under-five mortality; improved health outcomes enhance labour productivity, but the neonatal mortality rate has the largest labour productivity elasticity. This suggests that a persistent decline in child deaths would contribute to building healthy individuals who grow up to become a healthy and productive workforce. In addition, the study established that improved health outcomes stimulate economic growth. This reflects the magnified impact of good health on labour productivity with multiplier effects on national output. The study suggests some measures and policy options. JEL Codes: H51; I12; J11, J24; J33; O40

This paper investigated the decline of capital importation to Nigeria and specifically banking business in Nigeria in the pre-COVID-19 pandemic era and during the COVID-19 pandemic era. The investigation became necessary considering the high prevalence of the COVID-19 pandemic in most of the top countries with capital exportation into Nigeria and the sharp decline in the importation of capital. Bringing, liquidity and stability of the banking business into concern. Data on capital importation were extracted from the CBN Statistical Bulletin and analyzed using a test for equality of means with both the Anova and Welch F-tests. We found that there is statistically significant difference in the averages of the capital importation to the banking business and Nigeria as a whole between the two periods of concern. We recommend that this [the reduction in the capital importation] should be monitored intermittently to ensure survival, stability, liquidity and enhanced share premiums of the banks. Also, the regulating authorities should regulate towards promotion of liquidity and stability in the financial system by permitting certain policies to take effect, such as transforming from Plc. to HoldCo structure.

This paper extends the previous studies to re-examine the functional relations and causal links between environmental degradation and its possible determinants in Nigeria, covering 1977 to 2015. With the aid of ARDL model estimation, the study found a positive relationship between economic growth and environmental degradation (measured by carbon emission). A positive relation was also established between energy consumption and carbon emission. Similarly, this study reported a positive relationship between transport services in the import and export sectors and carbon emission. Through the Granger causality test, the study established a unidirectional causality running from carbon emission to economic growth. Similarly, there was a unidirectional causality running from economic growth to transport services in the export sector. Based on these findings, there is an increasing need for the authorities to regulate economic activities that directly and indirectly contribute to systematic environmental degradation in Nigeria.