Programme: Economics

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Promoting female economic inclusion for tax performance in Sub-Saharan Africa
(Economic Analysis and Policy Volume 69 (Published byElsevier), 2020) Asongu A.; Adegboye Alex; Nnanna Joseph
This study explores whether female economic inclusion enhances tax performance in a sample of 48 countries in Sub-Saharan Africa from 2000 to 2018. The study’s empirical evidence is based on the generalized method of moments in order to account for endogeneity concerns. Three tax performance measurements are used, notably, total taxes revenue excluding social contributions, reported tax revenue derived from natural resources sources, and total non-resource tax revenue. Three female inclusion indicators are used, namely, female employment in industry, female labour force participation, and female employment. The following empirical evidences are documented; (i) There is a negative net effect from the enhancement of female employment in the industry on the total tax revenue. (ii) There is a positive net effect of female employment in the industry on the non-resource taxes. An extended threshold analysis is performed to establish the critical masses that could further influence tax performance positively. The following thresholds are established. (i) a minimum of 15.35 “employment in industry, female (% of female employment)” for the total tax revenue and (ii) a maximum of 23.75 “employment in industry, female (% of female employment)” for the non-resource tax revenue. These critical masses are crucial for sustainable development because, below or beyond these thresholds, policymakers should complement the female economic inclusion with other economic measures designed to improve tax performance in Sub-Saharan Africa.
The mobile phone technology, gender inclusive education and public accountability in Sub-Saharan Africa
(Telecommunications Policy Volume 45, Issue 4,, 2021-05) Asongu A.; Adegboye Alex; Ejemeyovwi Jeremiah O.; Umukoro O. E.
This study assesses the relevance of mobile phone technology in complementing gender inclusive education (i.e. primary, secondary and tertiary) to promote public accountability (i.e. involving horizontal, vertical and diagonal accountability dynamics). The study utilizes the generalized method of moments (GMM) technique to establish the empirical evidence based on 48 Sub-Saharan African countries for the period 2005– 2018. The following findings are documented from the linkages between mobile phone technology, inclusive education and public accountability. First, the interactions between mobile phone technology and inclusive education promote public accountability. Second, with regard to net effects, while unexpected negative signs are established, the corresponding positive interactive effects indicate that enhancing the penetration of mobile phone technology beyond some critical thresholds ensures positive net effects. Hence, policy makers should ensure that mobile phone technology penetration exceeds the established thresholds in order for gender inclusive education to positively affect public accountability.
EFFCTS OF DIGITAL PAYMENT AND FINANCIAL INCLUSION ON ECONOMIC GROWTH IN SELECTED WEST AFRICAN COUNTRIES
(Covenant University Ota, 2025-04) ADEKOYA, Oluwasegun Ayomide; Covenant University Dissertation
This study examined the effect of digital payment and financial inclusion on economic growth in selected West African countries. The financial sector remains a key driver of economic growth globally, especially as countries employ more technology-driven systems; this shift has profound effects across all sectors, including the financial sector. Meanwhile, despite the ongoing policy efforts to promote digital transactions, West Africa still lags behind in financial inclusion as compared to the global standards. Hence, the study examined the interactive effect of digital payment and financial inclusion on economic growth in selected West African countries. This study employed the Pooled Ordinary Least Squares (POLS) estimation technique to analyse data for ten (10) West African countries from 2014 to 2022. The data was sourced from the World Bank’s World Development Indicators. The explanatory variables used in the model were; mobile transfer payment, mobile money, account ownership at a financial institution or with a mobile-moneyservice provider, labour force and gross fixed capital formation, the dependent variable was real gross domestic product. The findings of the study revealed that both digital payments and financial inclusion independently contribute positively and significantly to economic growth. However, the interaction of digital payments (proxied by mobile transfers) and financial inclusion had a negative and statistically significant impact on economic growth. In contrast, the interaction of mobile money and financial inclusion showed a positive and significant effect on economic growth. The study concludes thus, that the interactive effect between digital payment and financial inclusion has a positive impact on economic growth in the selected West African countries. Based on the findings, this study recommended that mobile money offers a stronger economic potential, and should therefore, be used more as a preferred digital payment channel to enhance financial inclusion and economic expansion in West Africa. The study concluded that economic growth will be boosted if digital payments is strengthened more in financial inclusivity
IMPACT OF FINANCIAL INCLUSION AND ENERGY CONSUMPTION ON ENVIRONMENTAL QUALITY IN SELECTED SUB-SAHARAN AFRICAN COUNTRIES
(Covenant University Ota, 2025-08) OLAOYE, Olugbenga Olaposi; Covenant University Dissertation
Sub-Saharan Africa (SSA) faces a pressing development dilemma: rising energy demand, weak financial inclusion, and worsening environmental degradation. The region’s reliance on fossil fuels such as coal, gas, and oil has intensified carbon emissions and undermined environmental sustainability, while the exclusion of a significant share of the population from formal financial systems constrains their ability to invest in clean energy and sustainable practices. Despite growing global advocacy for inclusive finance and clean energy adoption, existing research provides limited evidence on how financial inclusion moderates the energy–environment nexus, particularly within SSA. Furthermore, the potential influence of structural breaks—such as global financial crises, international climate agreements, and pandemics—on this relationship remains underexplored. These gaps informed the motivation for this study. This research examined the impact of financial inclusion on the relationship between energy consumption and environmental quality across 38 low- and middle-income SSA countries between 1991 and 2022. Anchored on the Environmental Kuznets Curve (EKC) hypothesis, the study employed annual secondary data sourced from the World Bank’s World Development Indicators. The Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) model was the principal estimation technique, as it accounts for cross-sectional dependence and heterogeneity while capturing both short- and longrun dynamics. To ensure robustness, the Pooled Mean Group (PMG) estimator was also applied. The empirical results show that energy consumption significantly worsens environmental quality across the region, with middle-income countries exhibiting a stronger positive association between energy use, capital investment, and carbon emissions. Real GDP and gross capital investment further contributed to emissions, reflecting the industrial expansion of African economies. In contrast, the quality of environmental regulation was negatively associated with emissions, indicating its mitigating role, though implementation remains uneven across countries. Financial inclusion was found to be a critical determinant of environmental outcomes: in middle-income economies, greater inclusion significantly reduced emissions by enabling access to credit, green finance, and adoption of cleaner technologies. However, in low-income countries, the short-term effects of financial inclusion on environmental quality were positive but statistically insignificant, reflecting structural constraints in their financial systems. The study concludes that financial inclusion can serve as a viable policy instrument for environmental sustainability in SSA. Expanding inclusive finance, strengthening regulatory enforcement, and aligning financial innovations with Nationally Determined Contributions (NDCs), the Sustainable Development Goals (SDGs), and Africa’s Agenda 2063 are vital for promoting clean energy adoption and building climate-resilient economies.
DIGITAL TECHNOLOGY EXPOSURE AND FEMALE YOUTHS’ LABOUR FORCE PARTICIPATION IN NIGERIA
(Covenant University Ota, 2025-08) BABALOLA, Charity Ifelolorun; Covenant University Dissertation
Amidst the growing global attention on the role of technology in driving economic inclusion, it is important to understand the impact of digital technology exposure on young women in developing countries like Nigeria which is paramount for policy and development outcomes in transforming in human capital and the economy of the country. This study explores the effect of digital technology exposure on labour force participation among female youths in Nigeria, within the broader context of socioeconomic and regional inequality that exists in female employment and access to digital technology. The data for the study is from the 2018 Nigeria Demographic and Health Survey (NDHS), focusing on females between age 15 and 30. Three kind of analysis was conducted: univariate, bivariate (cross tabulation and chi-square), and multivariate (binary logistic regression analysis) to examine the effects of background factors (age, highest level of education, marital status, wealth, residence and Religion), contextual factors (region, and mass media exposure) and digital technology exposure (Use of internet, frequency of use, mobile phone ownership and use of mobile phone for financial transaction) on labour force participation. The key findings of this study revealed that digital technology exposure is a significant predictor of employment among female youths. However, disparities persist across regions, education levels, and socioeconomic groups in access to digital technology and labour force participation. Media exposure was also found to positively influence both digital access and labour participation. The study also revealed that access to and the use of digital tools such as mobile phones and mobile financial tools are strong predictors of female labour force participation. These results emphasise the need for targeted interventions to promote digital inclusion and economic opportunities for young women in Nigeria.
IMPACT OF CLIMATE CHANGE AND WAGE INCOME ON FOOD SECURITY OF FEMALE-HEADED HOUSEHOLDS IN SELECTED WEST AFRICAN COUNTRIES
(Covenant University Ota, 2025-09) ODE OMENKA, Loveth Chiduma; Covenant University Thesis
The critical relevance of food security in West Africa cannot be overemphasised due to the regional level of vulnerability which is driven by conflict, displacement, economic instability, and severe climate shocks. Food security in the West African region faces mounting challenges and climate change has emerged as one of the most significant drivers of the current food crisis. This study represents one of the few empirical investigations that analyzed the impact of climate change and wage income on food security, particularly by comparing households experiencing severe climate change to those without. The broad objective of this research is to examine how climate change and wage income affects food security across West African countries with a particular focus on Nigeria and Senegal. The study is supported by the Resilience Theory which explores household capacity to withstand environmental shocks and the Sustainable Finance Theory, which emphasises the importance of economic stability and inclusion in ensuring long-term food access. A mixed-methods approach was employed to capture both quantitative and qualitative dimensions of the research problem. Quantitative data were obtained from the Living Standards Measurement Study-Integrated Surveys on Agriculture (LSMS-ISA), while qualitative data were collected through fieldwork across selected rural communities. The study utilised Statistical techniques such as Logistic Regression and Propensity Score Matching (PSM) to estimate the effect of climate change exposure and livelihood factors on food consumption outcomes. Geospatial technique was also used to graphically represent the impact of Climate Change. The qualitative analysis complemented the statistical findings with insights from the field especially highlighting gendered dimensions of agricultural labour wage and food consumption. Findings from Nigeria revealed that households exposed to severe climate change experienced 11.1% reduction in food consumption adequacy. Households with female agricultural wage earners had significantly higher odds (55.3%) of achieving high food consumption levels. Climate change was associated with a 10.15% decrease in the likelihood of adequate food consumption (Coefficient: −0.102; T-statistic: −45.77, p<0.001), emphasising the negative impact of environmental stress on food access. Notably, the interaction between climate change and household wage (Coefficient: 0.724; z = 14.56, p<0.001) showed positive influence indicating that wage stability can moderate the adverse effects of climate disruptions. In contrast, findings from Senegal revealed a marginally positive relationship between severe climate change exposure and food consumption (Coefficient: 0.219; p = 0.056), likely due to the presence of food aid, adaptation strategies, and coping mechanisms. However, the absence of female agricultural wage earners significantly reduced food consumption (Coefficient: −0.485; p = 0.003), reinforcing the importance of gender inclusion in the agricultural sector economy. Food purchases emerged as a critical determinant of food consumption in both countries, linking market access and household income directly to food security. This study recommends that policymakers implement integrated strategies that promote climate resilience, increase household income through wage diversification and empower women in agriculture. Therefore, investment in climate-smart agriculture, social protection programs, market stabilisation mechanisms, and gender-sensitive employment policies are essential to ensure sustainable food security in West Africa. Keywords: Climate Change, Food Security,