College of Management and Social Sciences

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Author: search.filters.author.Covenant University DissertationStart date: 2025

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    ASSESSMENT OF THE IMPACT OF CENTRAL BANK OF NIGERIA AGRICULTURAL INTERVENTION FUNDS ON ECONOMIC GROWTH IN NIGERIA
    (Covenant University, Ota, 2026-08) Emmanuel, Abimbola Iyanu; Covenant University Dissertation
    This research examined the nexus between the various Central Bank of Nigeria (CBN) intervention funds in the agricultural sector and the economic growth of Nigeria. The study specifically examined the effects of Interest Drawback (IDB), Agricultural Credit Guarantee Scheme Fund (ACGSF) Anchors Borrowers Program (ABP), Nigerian Incentive-Based Risk sharing System for Agricultural Lending (NIRSAL), AND Financial Inclusion on Nigeria’s Economic Growth. Secondary data from 1995 to 2024, sourced from the CBN Bulletin, NIRSAL Website, National Bureau of Statistics, and Federal Ministry of Finance Website, was utilized for the study. The data were analysed using the Autoregressive Distributed Lag (ARDL) Model. The ARDL results revealed the existence of a long-run equilibrium relationship among the variables. IDB, ACGSF, ABP, NIRSAL, and Financial Inclusion exerted positive and statistically significant effects on GDP in the long run. The CBN should strengthen and expand agricultural intervention programmes while improving monitoring and evaluation mechanisms to enhance their contribution to economic growth.
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    EFFECT OF FINANCIAL CONDITIONS INDEX ON MONETARY POLICY EFFECTIVENESS IN NIGERIA
    (Covenant University, Ota, 2026-08) EGBE, IWASAM EJA; Covenant University Dissertation
    This study evaluated the impact of the Financial Conditions Index (FCI) on the effectiveness of monetary policy in Nigeria. Existing studies on Nigeria's FCI suffer from an outdated scope, exclusion of critical financial variables, and limited representation of the country's inflationary and growth dynamics. This study, therefore, aimed to construct a comprehensive FCI and assess its usefulness as a diagnostic and predictive tool for monetary policy in Nigeria. Specifically, the study examined the financial variables most suitable for constructing a robust FCI for Nigeria, analysed the dynamic response of the constructed FCI to monetary shocks and evaluated its predictive capacity for real GDP growth and inflation. A quantitative research design was employed for this study, using quarterly data from the Central Bank of Nigeria Statistical Bulletin, covering the period 2010Q1 to 2024Q4. Two FCI construction methodologies were adopted: Principal Component Analysis (PCA) and the Weighted-Sum Vector Autoregression (VAR) method. Impulse Response Functions, Pairwise Granger Causality tests, and out-of-sample Root Mean Squared Error (RMSE) evaluations were used to assess the index's responsiveness and predictive power. The findings revealed that the selected financial variables significantly contributed to FCI construction, with the first three principal components capturing about 93.05% of the total variance. Both FCIs responded significantly to monetary policy shocks primarily through the interest rate and exchange rate channels. The PCA-FCI demonstrated superior predictive power for real GDP growth, while inflation was found to Granger-cause both indices, indicating reverse causality. The study concludes that monetary policy effectiveness in Nigeria is better assessed through a composite financial conditions framework than through isolated policy rate indicators. It is therefore recommended that the Central Bank of Nigeria formally incorporate the PCA-based FCI into its policy diagnostic toolbox and place greater emphasis on price-based transmission instruments over credit volume controls.
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    ASSESSMENT OF GREEN FINANCE ON ECONOMIC GROWTH AND INCOME INEQUALITY IN NIGERIA
    (Covenant University, Ota, 2026-05) Ojo, Abigail Victory; Covenant University Dissertation
    This study examines the impact of green finance on economic growth and income inequality in Nigeria over the period 1990-2024. The motivation for the study arises from the increasing global emphasis on green finance as a tool to curb the effects of climate change and promotion of economic growth that is beneficial to all and this raises the need to understand its macroeconomic and distributional implications in a developing economy like Nigeria. Specifically, the study investigates the effect of green finance on economic growth and income inequality while incorporating key control variables such as inflation, unemployment, foreign direct investment, labour force participation, and Trade openness. The study employs annual time-series data and adopts the Autoregressive Distributed Lag (ARDL) bounds testing approach and a robustness test to confirm results. The empirical findings reveal that green finance has a significant but negative impact on economic growth in the short and long-run and also a positive and statistically significant effect on income inequality in both the short run and long run. The robustness test revealed that a higher level of renewable energy consumption reduces income inequality in Nigeria. Overall, the study suggests that the green finance sector in Nigeria is still at a developmental stage and may involve transitional costs, inefficiencies, and delayed returns. Additionally, the results indicate that macro-economic indicators have mixed effects on economic growth and income inequality, It recommends the promotion of inclusive green finance policies, strengthening of regulatory frameworks, and improved access to green funding for small and medium enterprises and low-income groups to ensure that green finance contributes to both economic growth and equitable income distribution.
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    ASSESSMENT OF INTRNATIONAL TRADE ON SELECTED SECTORAL PERFORMANCE IN ECOWAS COUNTRIES: A MEDIATING ROLE OF INDUSTRIALISATION
    (Covenant University, Ota, 2026-08) Kayode, Maria Oluwabukola; Covenant University Dissertation
    This study investigates the impact of international trade on sectoral performance across the agricultural, manufacturing, and services sectors in fifteen Economic Community of West African States (ECOWAS) member countries, with a emphasis on the mediating role of industrialisation. Using panel dataset covering the period 2005–2024., sourced from World Development Indicators (WDI) and International Financial Statistics (IMF Data Portal). The study employs the Panel Autoregressive Distributed Lag (P-ARDL) model estimated through the Pooled Mean Group (PMG) approach to capture both short-run dynamics and long-run equilibrium relationships. Pre-estimation diagnostics confirmed the absence of significant cross-sectional dependence and mixed orders of integration among variables, validating the suitability of PMG-ARDL framework. The empirical findings reveal heterogeneous relationships across sectors. International trade proxied by Merchandise export significantly affects sectoral performance in the long run.Trade positively affects the agricultural sector, reflecting the dominance of primary commodity exports in ECOWAS economies. However, it negatively affects the manufacturing and services sectors, indicating weak spillover effects and limited structural transformation within the region. No significant short-run effects of trade were observed across the three sectors. The mediation analysis further reveals that industrialisation does not significantly mediate the relationship between trade and services sector performance. However, industrialisation partially mediates the relationship between trade and agricultural performance by transforming trade’s initial negative direct effect into a positive overall effect. In the manufacturing sector, industrialisation exhibits a suppression effect by intensifying the adverse impact of trade on manufacturing performance. The study concludes that although international trade significantly influences sectoral performance and promotes industrial development, the mediating role of industrialisation remains constrained by persistent dependence on primary commodity exports and weak industrial linkages across ECOWAS countries. The study therefore recommends policies aimed at export diversification toward higher value-added manufactured products, alongside increased investment in agro-industrialisation to strengthen productive capacity, enhance inter-sectoral linkages, and improve sectoral performance within the region.
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    EFFECT OF DIGITAL INFRASTRUCTURE AND GREEN INNOVATION ON ENVIRONMENTAL OUTCOMES IN SUB-SAHARAN AFRICA
    (Covenant University, Ota, 2026-08) Obi, Chibuzor Happiness; Covenant University Dissertation
    Digital infrastructure has been seen as a force of change for sustainable development, but in Sub-Saharan Africa, the environmental impact of digital infrastructure is poorly understood. This study investigates the impact of digital infrastructure on environmental outcomes in Sub-Saharan Africa, focusing on the potential intermediate path of green innovation, but also identifying threshold conditions where digital growth can foster emissions reductions. The study employs a balanced panel of 40 Sub-Saharan African countries from 2001 to 2022 and uses a dynamic panel-data framework to examine how digital infrastructure is linked to carbon dioxide emissions. It also applies mediation analysis to test whether green innovation mediates the impact of digital infrastructures on environmental outcomes, and threshold analysis to see if such impact is different after a specific level of connectivity is attained. The composite index of key information and communication technology indicators is used to measure digital infrastructure. The main environmental indicator is CO2 emissions per capita, with wider environmental indicators also checked. Renewable energy use as a percentage of total final energy use serves as a proxy for green innovation, as well as renewable electricity output as a percentage of total electricity generation. The study demonstrates that digital infrastructure can have a positive impact on environmental effects, but its effectiveness is conditioned on the quality of connectivity, how much digital infrastructure expansion can foster green innovation, and the availability of cleaner energy systems. An important point to emphasize, however, is the need for suitable green innovation indicators in low-income settings, as traditional use of biomass does not necessarily indicate modern use of clean energy. The study adds to the literature by bringing together direct, mediation and threshold approaches under one umbrella and offers policy recommendations for digital economy planning, climate finance, clean energy investment and sustainability measurement in Sub-Saharan Africa
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    EFFECTS OF MICROFINANCE BANK’S ASSETS AND PRODUCTS ON POVERTY REDUCTION IN NIGERIA
    (Covenant University Ota, 2025-03) MAKINDE, Damilola Ayomiposi; Covenant University Dissertation
    This study investigates the effect of microfinance banks assets and products on poverty reduction in Nigeria. Specifically, it examines the impact of capital adequacy ratio, liquidity ratio, loan-to-deposit ratio, and monetary policy rate on the poverty rate. Using secondary data from the first quarter of 2008 to the fourth quarter of 2023, the study employs Vector Autoregression (VAR) analysis to assess these relationships. The findings indicate that the monetary policy rate has a positive and significant impact on the poverty rate, whereas the loan-to-deposit ratio, liquidity ratio, and capital adequacy ratio exhibit a negative and significant influence on poverty reduction. Based on these insights, the study recommends that microfinance banks enhance loan accessibility, strengthen capital reserves, and promote financial inclusion. Additionally, policymakers should regulate interest rates effectively and implement gender-inclusive strategies to support poverty alleviation efforts
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    LAWS OF WAR AND MILITARY ENGAGEMENTS: A STUDY OF INTERNAL SECURITY OPERATIONS IN NIGERIA
    (Covenant University Ota, 2025-08) SUNDAY, Victor Henry; Covenant University Dissertation
    This study investigates the impact of Lafarge Africa Plc’s corporate community relations on local development in Ewekoro, Ogun State, Nigeria. As corporate social responsibility (CSR) becomes increasingly important in industrial communities, the research evaluates how Lafarge’s initiatives align with stakeholder expectations across four key areas: education, health and safety, economic empowerment, and infrastructure. The study used a mixed-methods approach to gather data through structured questionnaires, interviews, and focus group discussions in four host communities—Itori, Papalanto, Oke-Oko-Egbado, and Olapeleke. Participants were selected to reflect diverse stakeholder groups across Lafarge’s CSR pillars. Quantitative data were analysed using SPSS, while qualitative responses were examined thematically. Findings reveal that while Lafarge’s efforts have improved infrastructure and contributed to community stability, significant gaps remain in education, healthcare, empowerment, and inclusive communication. Many residents feel excluded from decision-making, and projects are often perceived as short-term or misaligned with pressing community needs. Anchored in Stakeholder Theory and Social Responsibility Theory, the study underscores the need for transparent, participatory, and context-driven CSR. It contributes to CSR literature in Nigeria’s cement industry and offers practical recommendations for improving inclusion, trust, and development outcomes in corporate-community engagement.
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    ASSESSMENT OF CRISIS COMMUNICATION AND SOCIAL MEDIA USAGE FOR CRISIS MANAGEMENT: A STUDY OF FLUTTERWAVE AND PAYSTACK
    (Covenant University Ota, 2025-08) NWITE, Juliet Ngozi; Covenant University Dissertation
    This study assessed crisis communication and social media usage for crisis management in the Nigerian Fintech sector, focusing on Flutterwave and Paystack. Guided by the Situational Crisis Communication Theory and the Social-Mediated Crisis Communication Model, the research adopted a mixed-methods approach, combining a cross-sectional survey of 400 respondents with descriptive content analysis of official crisis-related communications from the two companies. The objectives were to examine the extent of social media utilization for crisis management, identify the strategies employed, evaluate the influence of social media use on public reaction, and analyze public complaints regarding crisis communication on social media. The findings revealed that both Flutterwave and Paystack actively used social media platforms, particularly X (formerly Twitter), during crises. Flutterwave’s communication was characterized by frequent, real-time updates and direct engagement, while Paystack adopted a more measured approach with fewer but more detailed updates. Timeliness, transparency, and interactive engagement emerged as significant factors influencing public trust and perception. However, common complaints included delayed responses, insufficient detail in updates, and perceived lack of empathy in crisis communication. The study concludes that effective use of social media is essential for Fintech crisis management, as it directly impacts stakeholder trust and brand reputation. The study recommends enhancing real-time communication capacity, ensuring consistency of messages across platforms, integrating empathy and transparency into crisis communication, and using public sentiment analysis to refine crisis strategies. The research contributes to existing knowledge by providing empirical evidence on Fintech crisis communication in Nigeria, extending theoretical applications of SCCT and SMCC to an African context, and offering practical strategies for improving corporate crisis responses in the digital era.
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    GREEN FINANCE STRATEGIES AND SUSTAINABLE FASHION MANUFACTURING AMIDST SECOND-HAND CLOTHING IMPORTS IN NIGERIA
    (Covenant University Ota, 2025-08) EFFIONG, Esther Uduak; Covenant University Dissertation
    Nigeria's fashion industry confronts significant environmental and social challenges due to overwhelming second-hand clothing imports, undermining local manufacturing and increasing textile waste, exacerbated by a nascent green finance sector. This dissertation investigated green finance's role as a catalyst for sustainable fashion manufacturing and its influence on second-hand clothing imports in Nigeria, examining its effect on green and sustained fashion manufacturing and sustainable fashion manufacturing's mediating role. A quantitative survey gathered primary data from 105 staff across Nigerian fashion manufacturing organizations. Analysis employed descriptive statistics, correlation, and regression models, including a three-condition mediation framework. Findings reveal green finance positively affects green fashion manufacturing (boosting it by 96.3%) and sustained fashion manufacturing (boosting it by 102.6%). Crucially, sustainable fashion manufacturing fully mediates this relationship, demonstrating green finance reduces second-hand clothing imports primarily through fostering local sustainable production. The study recommends enhancing access to green finance, implementing robust incentives for green practices, and leveraging sustainable local production growth to reduce second-hand clothing import dependence.
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    DEEPFAKES IN NEWS SOURCING: A STUDY OF LAGOS JOURNALISTS’ KNOWLEDGE, ATTITUDES AND PRACTICES
    (Covenant University Ota, 2025-08) OLUWAGBILE, Dabira Precious; Covenant University Dissertation
    The increasing prevalence of deepfakes; artificially generated videos, images, and audio, poses a substantial threat to news sourcing and the credibility of journalistic practice. This study critically examines the knowledge, attitudes, and practices of journalists in Lagos, Nigeria, concerning deepfakes, with the objective of assessing their levels of awareness, perceived ability to identify deepfakes, and experiences confronting such content in professional contexts. Utilizing a quantitative approach, data were collected from 400 journalists drawn from print, radio, television, and online platforms in Lagos, Nigeria. For the quantitative approach, four news gatekeepers were also interviewed. Analysis reveals high levels of awareness (93.5%) and self-reported confidence in identifying deepfakes (93%), yet exposes notable gaps in technical knowledge and a lack of clear distinction between deepfakes and other misinformation forms. The study recommends sustained training, the integration of deepfake detection skills into professional development and newsroom policy, and investment in technological tools to enhance detection and verification practices. These measures are vital to safeguarding journalistic integrity in an evolving digital information landscape.