This study sought to appraise the relationship between external debt management policies on the economic growth of Nigeria from 1970-2006. One null hypothesis was formulated to determine the effect of external debt on Gross domestic investment, exchange rate, fiscal deficit, and terms of trade. Ex-post facto research design was adopted for the study. Ordinary least square multiple regression technique was used to analyzed data gathered for the study. The result of the findings revealed that, GDP, exchange rate, fiscal deficit, London Interbank offered rate, and terms of trade are the major determinants of external debt in Nigeria. The severity of the debt within the period is reflected in the country's inability to meet the debt service obligations particularly scheduled debt services in relation to its foreign currency earnings, it explains why the country had rescheduled its debt from time to time (first in 1986(first in , 1989(first in , 1991(first in , and last in October 2000. Recommendations are made that the federal government should lay down well considered guideline for external loans. Defining the purpose, duration, moratorium requirements and commitments, negotiation fees etc including the conditions under which the government can approve and guarantee external loans. Also In view of the debt relief, government should ensure that spending impact on poverty reduction halts HIV/AIDS and malaria and addresses child and material mortality. Thus, the government should priorities its spending on health, education, water, infrastructure, power and agriculture.
The study investigated the operational efficiency of the Nigerian stock market between 1986-2010. This was necessary given the degree of thinness of the market. The objectives of the study were: to investigate the extent to which the operations of the market have contributed to the growth of the Nigerian economy and also to determine the functionality of the market. To achieve these objectives data were gathered on some capital market indicators from the stock exchange factbook of various years on market capitalization (MCAP), all share index (ASI) volume of transaction (VOLT) value of transaction (VALT) and number of listed companies (NLC) on the stock exchange. The data were tabulated, analyzed and tested using the ordinary least square statistical technique. Findings resulting from the test of data showed that NLC, VOLT, VALT, ASI and MCAP were positive and that increase in any of the above parameters would in turn cause an increase in the growth of the Nigerian economy at five and ten percent levels of significance. It further showed that the market was operationally weak form efficient. It was therefore recommended that government should continue to provide better macro-economic environment for the private sector to lead the economy on the part of sustainable growth and development.
The study examined the impact of performance based budget on projects effectiveness, quality and sustainability in Fako and Meme Divisions of the South West Region, Cameroon. Three specific objectives were formulated to guide this study. The objectives investigated the impact of performance based budget on the effectiveness of projects, the impact of performance based budget on the quality of projects and the impact of performance based budget on the sustainability of projects. Ex-post facto research design was used for this study. The sample of this study was made up 420 respondents comprising of service providers, beneficiaries of the projects and staff of the Regional Delegation of Water and Energy and the Regional Delegation of Public Works in Fako and Meme Divisions. A well validated structured questionnaire was used for data collection. Data collected were analyzed using descriptive statistics and dependent t-test. Findings revealed that there exist a significant difference in the quality of roads, water and electricity projects before and after implementation of performance based budget with the quality of roads higher after the full implementation than before the implementation of PBB. There exist a significant difference in the effectiveness of road, water and electricity projects before and after implementation of water projects, and there exist a significant difference in the sustainability of road, water and electricity projects before and after implementation of performance based budget. The study recommended that the effectiveness of the budgetary system should be improved so that the quality and sustainability of projects will be obtained. Moreover, good budget begets good results.
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