Nigeria as an emerging economy? Making sense of expectations

Africa's hitherto negative image is now being rapidly replaced by a new persona: 'Africa on the rise'. Developed mainly from Africa's growth experience, this re-imaging of Africa has generated considerable interest even among Africanists concerned that the continent has often been the target of crisis jokes. Even more notably, the rebranding of Africa has gained traction in corridors of power and centres of finance. For this latter group, however, the narrative signals more than a cultural repackaging. It is about confirming that Africa is ripe and ready to host investment and to open up markets in areas where they did not exist or existed but were not capitalist in form. Either way, however, the 'Africa on the rise' narrative achieves a major political and economic goal. Neglecting ethical questions about sustainable jobs, inequality and ecological crisis, while extolling the virtues of capital accumulation, it extends a particular neoliberal ideology which favours people with market power, not the majority with precarious positions or their relationship with nature.

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“…Sources: Distilled from Jean-Yves and Verdier-Chouchane (2010), Enweremadu (2013), Kent and Ikgopoleng (2011) and Chibuye (2014).…”

Section: Jobs Distribution Poverty and Ecologymentioning

confidence: 99%

Africa: On the Rise, but to Where?

Obeng‐Odoom

2014

Forum for Social Economics

105

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“…After barely 15 years of democratic rule, Nigeria has again occupied the position as Africa's economic powerhouse-upstaging South Africa. Contrarily, Enweremadu (2013) claims that Nigeria's economic standing hardly translates to any image of a prosperous and affluent country. Added to this is the fact that Nigeria is not included in the top 10 countries in Africa in terms of GDP per capital income (IMF 2014).…”

Section: Nigeria's Soft Power Of Political Valuesmentioning

confidence: 97%

Nigeria’s Soft Power Sources: Between Potential and Illusion?

Ogunnubi

Isike

2017

Int J Polit Cult Soc

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A major requirement for regional power status is the location and deployment of soft power attributes which may range from culture, political ideology, diplomacy, to sporting achievements, foreign policy articulation, tourism, media exports and language. While contemporary analysis of Nigeria's regional and continental power profile is almost entirely focused on economic and military aspects, an objective account of the state's power portfolio would be incomplete without a careful estimation of its soft power potential and influence. This article contributes to the study of Nigeria's foreign policy by initiating the debate on the utility and prospect of its soft power characteristics. An assessment of the country's soft power resources in the form of culture, political values and foreign policy reveals that Abuja can indeed use these co-optive platforms to mitigate the negative contradictions that dampen its regional power status in Africa. The paper concludes that, although there are enormous limitations, a careful articulation of Nigeria's soft power assets has the potential to reinforce the country's regional leadership.

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“…Nigeria is an emerging economy and it is gradually gaining in quality and efficiency in its stock market performance (Enweremadu, 2013). The behavior of emerging markets is changing significantly over time with respect to their degree of integration with the global economy (Bekaert and Harvey 2000).…”

Section: Statement Of Problemmentioning

confidence: 99%

Working Capital Management Firm Liquidity and Stock Market Seasonality: Evidence from Nigeria

2020

EJAAFR

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This study examines the relationship between Working Capital Management Firm Liquidity and Stock Market Seasonality among quoted firms in Nigeria. Six hypotheses were formulated following the dependent variable of Stock Market Liquidity. The independent variables employed for this study include: Liquidity Ratio, Account Payable Day, Account Receivable Day, Inventory Day, Firm Leverage and Firm Size. This study is based on ex-post facto research design and employed a panel data set collected Fifty (50) non-financial companies over an eight year period ranging from 2011 to 2018 financial year. We analyzed the data set using descriptive statistics, correlation and Panel Ordinary Least Square Regression Analysis. Our finding lends credence to the efficient market theory which holds that share markets prices are unpredictable and as such cannot be forecasted. Specifically, the finding suggests that market liquidity cannot predict stock market returns irrespective of the season of the year. Hence, we carefully hold that the stock market in Nigeria is efficient due to its randomness and will rapidly respond to any information or anomalies presented to it. The study recommends among others that policy makers in emerging markets such as Nigeria should ease entry barriers for prospective firms so as to enhance liquidity. The study further recommends that, proper inventory management system should be put in place in order to avoid working capital mismanagement.

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Nigeria as an emerging economy? Making sense of expectations

Cited by 28 publications

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Africa: On the Rise, but to Where?

Africa: On the Rise, but to Where?

Nigeria’s Soft Power Sources: Between Potential and Illusion?

Working Capital Management Firm Liquidity and Stock Market Seasonality: Evidence from Nigeria

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