Department of Accounting

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Author: search.filters.author.Omodero, Cordelia OnyinyechiStart date: 2020

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Now showing 1 - 9 of 9
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    Agricultural financing to guarantee food safety in an emerging nation: a case study of Nigeria
    (Vilnius Gediminas Technical University, 2022) Omodero, Cordelia Onyinyechi; Ehikioya, Benjamin Ighodalo
    Summary/Abstract: Investment in agriculture is very crucial in the present situation of Nigeria. The effort to overcome food insecurity can only be efficacious if steps in the right direction will be taken. At this juncture in the Nigerian economic history, the right step to take is to adequately finance agriculture in order to ensure sufficient food production and safety that will save the future of the country. This study emphasizes on investment in agriculture to guarantee food security in Nigeria. Several other studies focus on the numerous challenges food production in Nigeria suffer, however, it is important to come to a conclusion that agriculture requires huge financial investment to thrive. This study examines the impact of agricultural financing and output on food production using data from 2007−2019. The regression result reveals that agricultural output is significant and positive in affecting food production and safety but agricultural financing is immaterial in guaranteeing sufficient food production in the country. This result gives evidence that investment in the agricultural sector will be the solution to food insecurity in Nigeria. The government is by this study encouraged to increase the budget on agriculture in order to boost food supply and safety in the country
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    A Cointegration Analysis of the Impact of Selected Macroeconomic Fundamentals on Stock Market Performance in Nigeria
    (Academy of Strategic Management Journal Vol: 20, 2021) Ehikioya, Benjamin Ighodalo; Omankhanlen, Alexander Ehimare; Omodero, Cordelia Onyinyechi; Isibor, Areghan Akhanolu; Akinjare, Victoria Abosede; Okoye, Lawrence Uchenna
    The stock market and macroeconomic fundamental variables are important elements with a significant impact on economic growth and development. Thus, using the Johansen cointegration technique and the Vector Error Correction Model, this paper examines the connection between stock market performance and macroeconomic fundamentals in Nigeria. The study employs data from the Nigerian Stock Exchange and the Central Bank of Nigeria from 2010 to 2019. The findings from the empirical analysis reveal evidence that a long-run equilibrium connection exists between stock market prices and several macroeconomic factors in Nigeria. The result of the study indicates that the exchange rate and inflation exerts a negative influence on stock prices. A positive connection exists between money supply, crude oil prices, financial openness and stock prices in Nigeria. However, the result from the post-2016 economic recession reveals a negative and significant influence of crude oil prices on stock prices while all other variables maintain their direction of relationship with stock prices. This result implies that there is a need for the government to embark on aggressive economic diversification to other sectors of the economy. Also, the government must reduce the interest rate to encourage investment in the stock market, in addition to creating an enabling environment through policies and programs that would stimulate the economy and boost investors’ confidence.
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    AMismatch between External Debt Finances and Consumption Cost in Nigeria
    (Journal of Open Innovation: Technology, Market, and Complexity, 2020) Omodero, Cordelia Onyinyechi; Egbide, Ben-Caleb; Madugba, Joseph Ugochukwu; Ehikioya, Benjamin Ighodalo
    This study scrutinizes the influence of external obligation on the cost of living in Nigeria. In recent times, Nigeria has been tagged as the headquarters of world poverty due to the unaffordable cost of living that has resulted in all manner of crimes prevailing in the country. However, the role of foreign loans being contracted by the government in reducing consumption cost has become a concern, hence this investigation. This study made use of a secondary form of statistical records covering the period 2000–2018. The result of the data analysis has shown that external debt does not improve consumption cost, but rather aids the rising cost of living in Nigeria. In a nutshell, the study suggests that the government should invest a large chunk of the borrowed funds into agriculture and local manufacturing for sufficient food supply and provision of goods and services at reasonable costs. This study recommends support for infant industries and entrepreneurship to reduce the consumption cost in the country. The study also encourages the government to seek debt rearrangement or outright revocation by the lending institutions and countries
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    Investigating The Impact of Managerial Entrenchment on Corporate Financial Structure Evidence from Nigeria
    (Asian Economic and Fiancial Review, 2021) Ehikioya, Benjamin Ighodalo; Omankhanlen, Alexander Ehimare; Omodero, Cordelia Onyinyechi; Mac-Ozigbo, Ada
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    Taxation and Consumers’ Spending Patterns in Nigeria: An Autoregressive Distributed Lag and Error Correction Model Approach
    (International Journal of Economics and Financial Issues, 2024) James, David; Omodero, Cordelia Onyinyechi; Nwobodo, Helen; Odhigu, Festus Onosakponome; Adeyemo, Kingsley Aderemi
    This study evaluates the effects of personal income tax and consumption tax on the spending system of consumers in Nigeria. The autoregressive distributed lag (ARDL) model has been employed for the co-integration test. The research additionally employs the Error Correction Model (ECM) to assess the pace at which any divergence from the long run equilibrium can return to normal in the current period. The findings show that Value added tax has an insignificant impact on purchasing power of consumers in both the short and long intervals. However, personal income tax and exchange rate exert substantial positive effect on consumer spending power in the long run but not in the short run. At the 1% level, the ECT coefficient is shown to be significant and unfavourable. This demonstrates a pretty slow convergence rate, with the model pushing itself towards equilibrium by 37% each year. The consequence is that any disequilibrium caused by shocks from the previous year requires 37% adjustment speed to return to long-run equilibrium in the current year. There have been several studies on how consumption tax affects households’ welfare without considering the effects of income tax and ever fluctuating exchange rate alongside these whole scenarios. This study puts all of these issues into consideration and contributes meaningfully to the existing literature that personal income tax is an integral part of the factors that affect households’ spending capacity. The study recommends that proper tax policy to enhance consumers’ spending capacity.
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    Agricultural Revamping via Major Capital Outlay the Antidote to Food Insecurity Challenges in Nigeria
    (Academy of Entrepreneurship Journal, 2020) Omodero, Cordelia Onyinyechi; Adetula, Dorcas; Iyoha, Francis Odianonsen
    Food insecurity in Nigeria has necessitated this study which emphasizes agricultural revamping as the antidote to the prevailing circumstance of food crisis in the country. This study draws the attention of the present administration to the urgent need for significant capital investment in agriculture as a means to proffer a permanent solution to food insecurity in Nigeria. This study employs literature review approach and discovers that the factors impeding food safety in Nigeria include farmers' lack of access to the credit facility, insufficient farmlands, security threat on farmers and farmers’ lack of education. However, relevant econometric techniques and statistical tools are specifically applied to examine the impact of government expenditure and agricultural output on food safety using a secondary source of data spanning from 2008 -2019. From the findings of this study, agricultural output has a considerable influence on food safety, but government expenditure on agriculture is yet to gain momentum in affecting adequate food production in the country. Thus, this study concludes that there is an urgent need for the government to invest significantly in agriculture which serves as an antidote to food security challenges in Nigeria.
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    SOVEREIGN BOND AND STOCK MARKET RETURNS IN A RISING ECONOMY
    (JOURNAL OF LAW AND SUSTAINABLE DEVELOPMENT, 2023) Omodero, Cordelia Onyinyechi; Jones, Ebieri; Ekundayo, Olugbenga; Eriabie, Sylvester
    Purpose: The aim of this study is to examine the impact of government bonds on Nigeria's stock market performance. Theoretical framework: This work adopted the model of Khan and Zaman (2012) which used multiple regression method to investigate the link between macroeconomic factors and stock values in Pakistan's Karachi Stock Exchange. Design/methodology/approach: The research period runs from 2005 to 2022, and uses the secondary form of data and the ordinary least squares approach. Other analytical examinations include normalcy, stability, interconnectivity, and autocorrelation testing. Findings: The results show that the Federal Government's unique bond does not considerably and favorably impact stock market performance. The stock outcome also demonstrates that interest rates are extremely unfavorable to stock market returns. Research, Practical & Social implications: The study concludes that the government can apply other techniques to diversify bonds sold in the stock market. It is imperative that the appropriate authorities manage interest rates and other economic elements that impact stock market performance. Originality/value: The study is valuable since it is one of the first to assess the influence of government bonds in boosting stock market performance in an emerging nation. Although the outcome of the study calls for government action to ensure that state bonds are fascinating to investors, it should also endeavour to improve the sustainability of the country's stock market.
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    Valued added taxation and industrial sector productivity: a granger causality approach
    (Cogent business and Management, 2022) Omodero, Cordelia Onyinyechi; Eriabie, Sylvester
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    Tertiary Education Tax, Information Technology Development Levy and Funding of Educational System in Nigeria
    (Journal of Educational and Social Research Vol 13, 2023) Omodero, Cordelia Onyinyechi; Adeyemo, Kingsley Aderemi; Ekundayo, Olugbenga; Omesue, Chukwudi Emmanuel; Eriabie, Sylvester; Lawrence, Imeokparia
    Due to poor funding of education in Nigeria, there has been a lot of instability in the educational system which ranges from frequent industrial revolt to a complete shutdown of schools in the country. The situation has become unbearable for families that now have their wards sitting at home due to no academic activities going on in the institutions of learning. This is not just because of poor governance but has been majorly attributed to limited sources of income available for school funding. The study assesses the effectiveness of tertiary education tax and information technology development levy in providing the needed funds for schools. The secondary data employed for this study cover a period from 2010 to 2021 and the multiple regression model is applied for the analysis. The result reveals that education in Nigeria requires more funds as the tertiary education tax lacks the capacity to adequately fund academic activities in the country. However, information technology development levy exerts a considerable impact on education financing. Therefore, the study proposes that the government should exploit other funding opportunities from other national income sources to augment the tertiary education tax. Also, the government should improve the fiscal planning for education expenditure by reducing the funds for other less essential expenditure responsibilities in the annual budget. The study also suggests that the government should endeavor to address the issues affecting the educators so that they can continue their classroom activities without grievances.