This study evaluates the Nigerian enterprise sector and policy uncertainty using the World Bank enterprise survey data for Nigeria 2010. Using the multinomial logistic regression model and the multivariate analysis to specifically analyze the impact of policy uncertainty on the enterprise sector and the factors that have influenced the growth of the Nigerian enterprise sector, the findings show that tax rate, customs and trade regulations and macroeconomic environment have impacted on the medium and large enterprise sector positively. The findings also showed that in the small enterprise sector, labour regulation, licensing and permits, policy uncertainty and political instability have negative impact on the medium and large sector enterprise sector in Nigeria. Meanwhile, electricity, unskilled workforce, cost of finance, practice of competitors, power outages and cost of raw materials or intermediate goods all have positive influence the growth of the Nigeria enterprise sector. The study recommends that proper macroeconomic environment, strong institutions, good leaderships and infrastructures will both enhance public and private sector productivity for economic competitiveness.Contribution/ Originality: This study contributes in the existing literature. This study is one of very few studies which have investigated policy uncertainty and enterprise sector, and factors affecting it. The paper contributes the first logical analysis, using superior data and methodology to other studies, that policy uncertainty affects Nigerian enterprise sector.
National security is as important as the existence of a nation. Nigeria has witnessed consistent rise in defense expenditure, with attendant opportunity costs. Internal threats have contributed immensely to the rise in defense expenditure as proliferation of arms and uprising of different ethno-rival groups and incipient militancy and insurgency have created insecurity in the country. Similar pressure and general insecurity has been intensified by increasing spate of kidnapping, politically motivated killings, ethno-religious uprisings, and terrorist web-like war by the Boko Haram sect. It is expedient to investigate the political motivation behind the military expenditure rise. This study is poised to estimate the politico-economic determinants of military expenditure in Nigeria using unrestricted VAR model for estimation. The data were sourced from World Bank's WDI, ICRG data, transparency international and SIPRI data, using Stata 13 software. The results show that ethnic violence, index of corruption, quality of governance, population growth, freedom from corruption affect military expenditure. The authors recommend that improved quality of governance will reduce corruption, ethnic violence, and improve welfare.
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