NSUK Repository :: Browsing by Author "Salihu, Habibu Muhammed-Gani"

Browsing by Author "Salihu, Habibu Muhammed-Gani"

Now showing 1 - 20 of 33

Open Access
An Adjusted Classical Models For Interest-free Financing in Nigeria.
(Department of Economics, Nasarawa State University, Keffi., 2020-09-04) Ibrahim, Abdul; Salihu, Habibu Muhammed-Gani
This paper examines an interest-free macroeconomic models by adjusting the classical model into an interest-free macroeconomic model as a basis for developing a comparative analysis, The study adopted a descriptive approach by describing the mechanics for obtaining an interest-free macroeconomic model from a prototype western model. It was observed that most Muslims in Nigeria are interested in adopting interest free financing under the western system. This is a reason for converting a western model into an interest-free model.This conversion allows policy-makers to gain useful insight in the process in transition from the western system to the Islamic system. The Islamic principle of prohibition of interest is incorporated into the selected model to develop a general macroeconomic system applicable for those economies in which an interest-free financial system is prevalent, such as Nigeria. It was concluded that application of western scientific tools of analysis is accepted in Islam as long as they are free of anti-lslamic elements and this has also conform with the Central Bank of Nigeria draft guidelines for regulations of interest free banking in Nigeria.
Open Access
ANALYSIS OF INFLATION CONVERGENCE IN THE ECONOMIC COMMUNITY OF WEST AFRICAN STATES (ECOWAS) ZONE (1987-2021)
(Department of Economics, Nasarawa State University, Keffi., 2022-10-21) Salihu, Habibu Muhammed-Gani; Abdou Moussa, Maman Nansir; Ibrahim, Abdul
This study examines the convergence of inflation (country annual average inflation rate) through it determinants vis-a-vis the set convergence criteria in the Economic Community of West African States during the period 1987-2020. The study adopted ex-post factor design in order to answer the research questions. The study undertook unit root test employing Levin, Lin, and Chu (LLC) panel unit root method to check the stationarity of the variables, Auto Regressive Distributed Lag (ARDL) model and Error Correction Model (ECM) to determine whether or not they are co-integrated and a dynamic fixed effect panel data model covering 15 countries over the period under review. The study found that while West African Economic Monetary Union (WAEMU) countries inflation rates fall below the threshold, West African Monetary Zone (WAMZ) inflation rates are beyond the ECOWAS inflation convergence rate of less than or equal to 5 percent, that cross-country differences in inflation rates are attributed to the variation of the output gap, the increase in liquidity, the variation of exchange and interest rates, and the persistent increase in the price level. In the view of targeting the five percent (5 %) percent convergence criterion, the study recommended that Changes of traditional country monetary approaches to a supranational monetary authority that compels compliance to a regional monetary and inflation targets, stimulation of economic growth, lowering of interest rates as well as adoption of a strong and efficient exchange rate mechanism becomes imperative for the ECOWAS member states.
Open Access
An Analysis on the Causes and Effects of Recent Economic Recession on the Nigerian Economy
(Department of Economics, Nasarawa State University, Keffi., 2018-12-12) Ibrahim, Sadiq Abubakar; Lanhui, Wang; Salihu, Habibu Muhammed-Gani; Ekanayake, B.P.; Ibrahim, Abdul; Aree, Sasima
This research investigates the causes and effects of the recent economic recession on the Nigerian economy. Corruption, mismanagement of funds by past administration, windah/.ation of oil pipeline. Boko Ilaram insurgency, oil price shocks, delay in approving national budget are the main causes of the recent economic ierosion in Nigeria. The effect of recession in an economy result to a fall in aggregate demand, decrease in consumption, increase in unemployment, inflation and in general high cost of living. The study employed ordinary least square method in the analysis of this research and the result from findings shows ilw rate of inflation has negative effects on the Nigerian economy as it was evidenced from the result and when prices of commodities are mflaied, it affect all the economic activities in the country. The findings also rescaled that debt negatively affect Nigerian economy and this is because the money borrowed was diverted to illegal cliannel bv the corrupt instead of ii.-.e .iiug iato economy I'Memphis mciil rate and (il)P show-, to be podlis els ret tied and this was because of the increases in population of the country. Based on the results from findings it was recommended that instruments of monetary and fiscal policies should be effectively used to tackle the economic recession and bring the economic activities back on track and thus, effective used of both the monetary and fiscal policies is not only (he .sufficient condition hut a necessary condition.
Open Access
An Assessment of Human Poverty - Health Outcomes Nexus in Rural Communities of Nasarawa State, Nigeria
(Department of Economics, Nasarawa State University, Keffi., 2018-06-11) Itari, Abdul-Razaq Rilwan; Salihu, Habibu Muhammed-Gani; Yusuf, Muhammad Muazu
The study was set to explore the hitman poverty and health outcome nexus in rural communities of Nasarawa State, Nigeria. The study relied solely on primary data collected from 399 randomly selected rural community members in three rural communities from three sample local government areas spread across the senatorial zones of the Nasarawa state. An econometric model was specified and estimated using the Bivariate Correlation and the Logit Regression techniques. Majority of the rural community dwellers i.e.76% are poor. The Logit regression results reveal that state of health, the number of dependents , Education, Number of limes food is taken per day, poor utilization of health care facilities (and death of children below the age of five are the major determinants of poverty and health relationships, although the model has a good fit given the value of McFadden's Pseudo - R2 coefficient 0.72, however, overall, the model is highly statistically significant according to the LR of 28.9 which is rejected at 1% level of significance. The model is very suitable as it passed the econometric tests conducted. The study, therefore, recommends that poverty rate and health conditions among the rural communities in Nasarawa State are greatly underpinned by the deplorable state of infrastructures such as the roads linking the communities to the major towns as well as to the healthcare facilities. The government should extend and intensify community infrastructure projects to the rural communities.
Open Access
An Assessment Of The Social And Economic Impact Associated With Changes In Barites Mining Activities In Nasarawa State
(Department of Economics, Nasarawa State University, Keffi., 2017-04-10) Salihu, Habibu Muhammed-Gani
This work attempts an assessment of social and economic impacts of changes associated with Barites mining activities in Nasarawa state. The work employed the choice modelling technique and it identified certain attributes of interests to the mining communities and provided them with options for improvement. Therefore, it uses descriptive approach; it however employs both the chi-square test of independence or otherwise of event and one way analysis of variance to evaluate tire impact of changes in barites mining activities in the state, using changes in disposable income and employment opportunities as the basis for evaluation. The chisquare test- established that changes in Barites milling activities in Nasarawa state have impacted on the life of the people of the mining communities. The analysis of variation established that all the mining communities have the same interest for development options for their communities. The work posits that changes in the mining activities have brought some improvements in the area of employment opportunities, increase disposable income and wealth creation. It however collapses the social values of the inhabitants leading to high rate of crime, and alarming percentage of teenage pregnancy, HIV AIDS and broken marriages.
Open Access
Bank Service Quality in Kaduna Metropolis: An Assessment of the Automated Teller Machine (ATM)
(Department of Economics, Nasarawa State University, Keffi., 2018-08-15) Umaru, Ibrahim Gerarh; Salihu, Habibu Muhammed-Gani; Ibrahim, Abdul
The automated teller machine (ATM) was introduced to the Nigerian financial market initially by banks as a platform to deliver electronic banking. Its use was later promoted by the Central Bank of Nigeria (CBN) as an instrument to achieve some ofthe objectives of its cashless policyfirst introduced in 2012. The ultimate acceptability and patronage of this platform however depends on the general perception of the quality of service it delivers. This study evaluates bank customers' experience with the A TMusing the SER VP ERFfiximework and using Metropolitan Kaduna as a point of reference. The findings of the study reveal that the median score for the quality of ATM service adjudged by clients was4 out of 10. Further statistical analysis suggests that the seeming neglect of the attributes of responsiveness, assurance and empathy dimensions of bank service might have been responsible for the dismal rating of the quality of ATM service delivery by clients in the study area. The study identifies level of education, ATM monthly usage and monthly income and ability to timely deliver on promise as the major factors influencing customers' perception of quality of service. To improve on customer ATM experience, the study suggests, among others, alternative means of providing faster and safe ATM service, investing in newer technology and intensifying public enlightenment on the use and advantages of ATM.
Open Access
COMMERCIAL TRICYCLE: JOB CREATION AND INCOME GENERATION IN NASARAWA STATE - NIGERIA
(Department of Economics, Nasarawa State University, Keffi., 2018-12-14) Umaru, Ibrahim Gerarh; Salihu, Habibu Muhammed-Gani; Ibrahim, Abdul
The study examines the contribution of commercial tricycle; job creation and income generation in Nasarawa State, Nigeria. This study adopted a survey research technique. The data used in this study was gathered from primary sources, collected from cross-sectional surveys of commercial tricycle operators, officials of relevant trade unions, Nasarawa State license office (Central Motor Registry Unit), Nasarawa State Board of Internal Revenue and end users of their services using a comprehensive and structured questionnaire /interview method, as well as Focus Group Discussion (FGD). The study employed an optimized ouput -revenue framework, which is a technique of finding the best possible of output and price level to give the most possible revenue. It was discovered that over the years, accidents involving Commercial tricycle, resulting from reckless driving and refusal to comply with traffic rules have been on the increase in direct proportion to the number of commercial tricycles for commercial purposes. The study also discovered that commercial tricycle riders or operators are confronted with high cost of setting up the business. The findings revealed that about 171,000 persons were employed by the business in 2017, but commercial tricycle business has the potential to create 29,050,728jobs to persons operating at full capacity. It also revealed that the business has the potential to contribute about N530million in taxes to the state coffers annually. The study recommends that there should be a purposeful regulation of the commercial tricycle business with the sole intention of widening the tax net to capture the activities of those currently edge to bridge the gap caused by the ban on motorcycle.
Open Access
DIAGNOSTIC TESTS IN ECONOMIC RESEARCH
(Department of Economics, Nasarawa State University, Keffi., 2018-02-19) Salihu, Habibu Muhammed-Gani
Open Access
Empirical Analysis of Effect of Non-oil Export on Economic Growth on Nigeria
(Department of Economics, Nasarawa State University, Keffi., 2018-11-12) Sabo, Ajidani Moses; Anzaku, Darlington Elias; Salihu, Habibu Muhammed-Gani
The Nigerian government has, over the years introduced various macroeconomic policies in order to develop the non-oil sector, with the aim of developing the overall economys but without success. This s/udv examined the effect of exports on economic growth in Nigeria.An autoregressive distributed lag model was used to carry out the analysis. It was found that non-oil agricultural exports have positive and significant effect on economic growth while non-oil manufacturing exports have negative relationships with it. Thus, it was recommended that there is need for concerted effort from the government at all levels and private sector at fighting the challenges of the non-oil manufacturing exports of the economy. Frantic efforts should be made in processing commodities before exporting them. This will enhance the economy's ability to export finished products as opposed to raw products.
Open Access
An Empirical Analysis of the Impact of ECOWAS Trade Liberalisation Scheme on Economic Growth in Nigeria
(Department of Economics, Nasarawa State University, Keffi., 2021-06-08) Ibrahim, Abdul; Salihu, Habibu Muhammed-Gani; Ahmed, Bala I.; Shitu, Shuaibu Umar
This study empirically analyses the impact of ECOWAS Trade Liberalisation Scheme (ETLS) on Economic Growth in Nigeria for the period 1990 -2018. Data from the CBN Statistical Bulletin and ECOWAS annual year book were used for the study.while the Auto Regressive Distributive Lag Model (ARDL) was employed to analyse the data. The findings reveal that ETLS is statistically significant in stimulating economic growth in Nigeria in both the long and short run for the period under review. Diagnostic tests confirm that the model is free from serial correlation, with residuals normally distributed. The CUSUM and CUSUMSQ show that the model is structurally stable while the Error Correction Mechanism (ECM) indicates that once there is disequilibrium in the system, it takes an average (high) speed of 42.6% to adjust itself back towards long-run equilibrium level. The study recommends that Nigerian government must as a matter of urgency come up with policies and programmes that will make Nigeria a key player in the effective implementation of the ECOWAS Trade Liberalization Scheme so as to stimulate economic growth and also the need to strengthen the mechanisms and streamline the procedures involved in the ETLS to be able to improve the intra-ECOWAS trade to desired levels as well as Nigeria should also initiate the process of the review of the ETLS Protocols in line with current realities and happenings in the trade arena such as the AFCFTA negotiation ongoing in the African Continent.
Open Access
Governance treasury single account and sustainable development in Nigeria
(Department of Economics, Nasarawa State University, Keffi., 2019-04-09) Salihu, Habibu Muhammed-Gani; Sabo, Ajidani Moses; Ibrahim, Abdul
Some of the problems bedevilling Nigeria economy in the recent times include corruption, mismanagement, wastages and financial leakages. These have caused inadequate funds for public investments in the economy. This study is designed to evaluate treasury single account (TSA) policy as it affects sustainable development in the country. Questionnaire method was adopted in collecting data used for the study. Results showed that TSA has impacted positively on Nigeria in general and public finance in particular and hence sustainable development in the country. Thus, it is recommended that the implementation of TSA in Nigeria should be sustained so as to accumulate enough funds for present as well as future use, to achieve sustainable development. Keywords: government treasury single account, sustainable development, wastages, corruption and financial leakages.
Open Access
THE ILLUSION OF GDP GROWTH RATE AND EMPLOYMENT GENERATION IN NIGERIA
(Department of Economics, Nasarawa State University, Keffi., 2011-07-23) Salihu, Habibu Muhammed-Gani; Enyinna, Chuta
This work attempts to look at the illusion about GDP growth rate, in relation to employment generation in Nigeria, within the backdrop of Irish and other experiences, with simultaneous growth in GDP and employment. The study also uses econometric technique to evaluate the impact of GDP growth rate on employment. It is clear that sluggish GDP growth rate that was experienced in Nigeria, from 1991-1999, which improve significantly from 2000-2006, failed to improve labour market situation. It established that GDP growth rate in Nigeria has not been consistent and sustained enough to impact on employment growth. It therefore, suggests that, if GDP is to remain a good indicator of growth in employment, it growth rate must be consistent and sustained at least in the medium term.
Open Access
Impact of Border Closure in Nigeria: Pains and Gains
(Department of Economics, Nasarawa State University, Keffi., 2021-12-23) Ibrahim, Abdul; Salihu, Habibu Muhammed-Gani; Musa, Sale Ibrahim; Sulaiman, Alhaji Ismaila
This paper analyzes impact of border closurein Nigeria. The study adopted a survey research design. Primary data was used which was obtained through the administration questionnaire. Several threats to Nigeria that lead to the consideration of border significant impact on Nigeria's infant firms, a coordinated terrorist attack or raising insecurity, smuggling and illegal immigration. The results shows that rice imports banned through land borders, and the economic •"^relationship between the two countries, both members of the Economic Community of West African States (ECOWAS), is already asymmetric, with Nigeria exerting much more influence on Benin than vice versa. The result also shows that given Nigeria's larger population, economy, and natural resource wealth, Benin has adopted a strategy centered on being "entrepot state," i.e., serving as a trading hub, importing goods and re-exporting them legally but most often illegally to Nigeria, thus profiting from distortions in Nigeria's economy.lt was concluded that if a country is trying to grow strong in a new industry, tariffs protect it from foreign competitors and this will give the new industry time to develop their own comparative advantage as well as temporarily creates jobs for domestic's workers in Nigeria.
Open Access
Impact of Capital Market on growth of the Manufacturing Sector in Nigeria
(Department of Economics, Nasarawa State University, Keffi., 2022-06-07) Salihu, Habibu Muhammed-Gani; Ibrahim, Abdul; Shitu, Shuaibu Umar
The study examined the impact of Capital Market on the Growth of Manufacturing Sector in Nigeria. Time series data was used. Due to the nature of the data, they were subjected to various tests such as unit root, co-integration and Granger causality tests. The study adopted is error correction mechanism technique to in thesetimation of the model. The regression result shows that the R2 is about 0.87 implying that the independent variables has explained about 85% of the variations in dependent variable. The Durbin Watson statistics is 1.9 which indicates a little presence of Auto correlation. The result further revealed that the coefficients of market capitalization and total new issue were negatively signed and statistical significant of 5% level of significance but the coefficient of value of capital transaction shows positive sign and statistical significant at 5% level of significance. This shows that value of capital transaction has positive and strong influence on manufacturing sector output within the time under review. The co-integration result revealed that there exist long-run relationship between manufacturing output and market capitalization. Also the result revealed that there was unidirectional causality between manufacturing sector output and capital market capitalization. Therefore, it is recommended among others that monetary authorities should supervise the capital market effectively to ensure the growth of manufacturing sector in Nigeria.
Open Access
Impact of Coronavirus (Covid-19) on Socio-Economic Status of Households in the Federal Capital Territory of Nigeria
(Department of Economics, Nasarawa State University, Keffi., 2020-12-24) Salihu, Habibu Muhammed-Gani; Joel, Osekweyi Odonye; Francis, Uger Iorbee; Sabo, Ajidani Moses; Agot, Galadima James
The study' examine the impact of coronavirus (CO VID-I9) on socio-economic status of households in the federal capital territory. The study adopted stratified and simple random sampling techniques to draw the sample from the population. The respondents were randomly selectedfrom the six (6) A rea Councils Headquarters namely: A baji area council; Abuja Municipal Area Council; Bwari Area Council; Gwagwalada Area Council; Kuje Area Council, and KwaIi Area Council. The area council headquarters were chosen because they are more populous and constitute the main commercial centres in the territory. The respondents were stratified into six according to the area councils and a simple random sampling was usedfor the selection of households. The findings of the study revealed that CO VID-19 has severe impacts on health, education, employment, and income of residents in the Federal Capital Territory. The study recommends that governments should increase funds to National Centre for Disease Control to enable it perform better; in terms of prevention of diseases that will enhance health status among households in the FCT. To this end, increase in annual budgetary allocations to the health sector will assist in powering health institutions to render effective services to the people.
Open Access
THE IMPACT OF EXPENDITURE PATTERN OF NASARAWA STATE GOVERNMENT ON EMPOWERMENT: AN ASSESSMENT OF HEALTH AND EDUCATION SECTORS (1999-2012
(Department of Economics, Nasarawa State University, Keffi, 2017-03-07) Salihu, Habibu Muhammed-Gani
This study attempts an evaluation of the impact of expenditure pattern of Nasarawa state government on empowerment. Its premise is to measure the influence of expenditure pattern on empowerment within the context of the developments in Health and Education sectors. The study adopted the Capability theory as its theoretical framework, because, it emphasized the creation and the enhancement of opportunity and freedom that are necessary for an individual to function effectively in the society; in this analysis both descriptive and inferential statistics were used; it however employed both the chi-square and multiple regression models using the ordinary least square method to measure the influence of expenditure pattern on empowerment. Hence, data were generated from both primary and secondary sources. The study found that the recurrent expenditure of the state tends to be more consistent and significant in empowerment of the people. However, the chi-square test and the regression technique established that expenditure pattern of the state has impacted on empowerment of the people in the state. Apart from these, the outcome of the interview and personal observation of government institutions and agencies revealed that the state government embarked on massive construction of infrastructure and renovation of existing infrastructures in the Health and Education sectors in the state within the years under review. IT also showed some improvement in the sectoral work plans with a well designed system setup, as well as the provision of technical skills to the teeming youth in the state and provision of adequate drugs supply to the expanded network of hospitals in the state through its performance enhancement scheme sponsored by World Bank and UNESCO. Therefore, the study posits that the state expenditure has improved the health and education situation in the state within the year under review, and it therefore, improved the productive capacity of the people in the state. However, the state should increase its expenditure to the health and education sectors, especially its releases to institutions in these sectors so as to increase the momentum of empowerment in the state.
Open Access
IMPACT OF GOVERNMENT MONETARY POLICY ON ENTREPRENEURSHIP FOR SUSTAINABLE DEVELOPMENT GOALS IN NASARAWA STATE, NIGERIA
(Department of Economics, Nasarawa State University, Keffi., 2017-06-05) Sabo, Ajidani Moses; Salihu, Habibu Muhammed-Gani; Joel, Osekweyi Odonye; Francis, Uger Iorbee
The role played by entrepreneur in economic growth of development countries cannot be over stressed. Now, it has been realised by government globally that increasing entrepreneurship both qualitatively and qualitatively will lead to the achievement sustainable economic development. This is because entrepreneurship development helps to create employment and make goods available everywhere. In view of the above, developing countries including Nigeria made several efforts towards entrepreneurship development at several times. On historical front, the sustainable development goals (SDGs) were bom at the United Nations Conference on Sustainable Development in Rio de Janeiro in 2012. The objective was to produce a set of universal goals that meet the urgent environmental, political, and econOmic challenges facing our world. The SDGs replaced the Millennium Development Goals (MDGs), which started a global effort in 2000 to tackle the indignity of poverty. Some of the objectives of MDGs include: reducing extreme poverty and hunger; preventing deadly diseases; and expanding primary education to all children; among others (UNDP, 2012). For about 15 years, the MDGs made some progress in some areas including: reducing income poverty, driving down child mortality, and improving maternal health as well as increasing literacy levels. The SDGs are built on the successes of the MDGs, while including new areas such as climate change, economic inequality, innovation, sustainable production and consumption, peace and justice, good governance, among other priorities. According to UNDP (2015), the SDGs are an inclusive agenda, and poverty eradication is at the heart of the 2030 agenda, and so is the commitment to include all and sundry to make a positive change for both people and planet. This means that SDGs are of the people, by the people and for the people
Open Access
IMPACT OF MINE CLOSURE ON THE BARITES MINING COMMUNITIES IN NASARAWA STATE: A QUALITATIVE RESPONES APPROARCH
(Department of Economics, Nasarawa State University, Keffi., 2021-08-12) Salihu, Habibu Muhammed-Gani; Ibrahim, Abdul; Ilemona, Adofu
This study attempts an evaluation of the impacts of mine closure on the Barites mining communities in Nasarawa state. It uses descriptive and inferential approaches; it employed changes in disposable income, aggregate demand, population, economic activities, and hectare of land degraded as the basis for the evaluation of the social and economic implication of mine closure on the livelihood of the Barites mining communities in the state. Data were generated from primary source and analyzed using Logistic regression technique. The study established that closure of Barites mining activities in the state has slowed down economic activities as well as the livelihood capabilities of the mining communities. The study posits that closure in the mining activities has brought some implications in the area of employment opportunities; decrease disposable income and wealth creation. It however dislocates the social values of the inhabitants leading to high rate of crime, and alarming percentage of teenage pregnancy, HIV AIDS and broken marriages. The study suggests that both the mining companies and the government should mitigate these challenges by providing the mining communities with the essential threshold of life that may re-engineer their livelihood back where it was before the mining activities. Apart from this, the closure of mines should follow a gradual and adaptive processes, as well as legal procedure with adequate consultation with the inhabitants taken into account that the mine is their chief source of livelihood.
Open Access
THE IMPACT OF NON-OIL SECTOR ON THE ECONOMIC GROWTH OF NIGERIA. (1980-2014)
(Department of Economics, Nasarawa State University, Keffi., 2016-09-02) Salihu, Habibu Muhammed-Gani; Yahaya, Yusuf; Ibrahim, Sadiq Abubakar; Ibrahim, Abdul
The research work examined the impact of non-oil sector on the economic growth of Nigeria between 1980 and 2014. The challenges of non^oi/ sector is not that.is being over shadowed by the oil sector, but traceable to declining non-oil export and loss of market share in the non-oil trade globally is a clear evidence of how the non-oil sector competitiveness of the Nigerian economy has been consistently eroded over the last three decades. The main objective of the study was to examine the impact of non-oil sector on the economic growth of Nigeria between 1980 and 2014. The data of this study was sourced from secondary data. Multiple regression model based on the econometric technique was used in the analysis of data collected. In the coursed of analysis, a unit root test, co integration test, Vector Autoregression, and correlation test was conducted in order to determine the stationary, long run relationship, the impacts of the independent variables on the dependent variable, and the strength and direction of the relationship among the variables was conducted. The finding shows that non-oil sector has a significant impact on the economic growth of Nigeria. Based on the findings, the following policies options were proffer; diversification of the economy is not only necessary but efficient in the Nigerian economy. Agriculture, manufacturing\ and industrial sectors should be more funded and equipped to ensure good outputs and contributions.
Open Access
IMPLICATIONS OF CHANGES IN ECONOMIC PLANNING FOR SUSTAINABLE DEVELOPMENT GOALS IN NIGERIA
(Department of Economics, Nasarawa State University, Keffi., 2017-06-23) Salihu, Habibu Muhammed-Gani; Joseph, Osekweyi Odonye; Francis, Uger Iorbee; Sabo, Ajidani Moses
The Nigerian economy has experienced booms, depressions and stagnation at various times in its history as a nation. Nigeria's economic managers have adopted several economic planning, and management techniques, including the classical, neo-classical, Keynesian and neo-Keynesian principles. Between 1962 and, 1985, Nigeria implemented four National Development Plans, which are woven around some specific objectives, including sectoral and regional balanced development, reduction in the levels of unemployment and underemployment and economic stability. Most of these objectives were achieved as it was reported by Anyanwu et al., (1997) that inflation rate, unemployment and poverty levels were quite low. But, the-worst- slump which started in early 1980s as a result ofcollapse in world oil market got Nigeria into a deep depression in 1986. The period 1980- 1986 was characterized by falling public expenditure; declining, productivity; high rates of inflation, unemployment and deterioration in the balance of payments; drastic decline in provision of social services, including education and health, and loss of confidence in those managing the economy (Ekpo, • 1992). Consequently, economic management technique has changed from economic planning of the 1962-1985 to economic recovery. Governments introduced a full blown Structural Adjustment Programme (SAP) in 1986, with the aim of recovering the economy and position it in the path of non-inflationary sustained growth and development within the medium term. In general, during the 1986 - 1994, the economy remained in a depression as shown by conventional economic indices of performance Thus the economy continued its journey in depression. Nonetheless, government continued to tpy to recover the system. The Abacha's regime dealt a heavy blow on SAP m 1994 by fixing theexchange rate of naira to other convertible