All Articles

Artificial intelligence integration and Africa business growth: The Nigerian experience

A. Abiegbe, H. Osisioma, M. Chiekezie

Artificial Intelligence (AI) is increasingly recognized as a transformative force for economic growth and business innovation globally, with its impact in emerging economies such as Nigeria gaining particular attention. This study explores the potential of AI integration in Nigerian businesses, emphasizing its role in enhancing productivity, fostering innovation, and driving sustainable growth. Employing a qualitative research design, the study conducted a secondary data analysis of scholarly sources published between 2018 and 2024, sourced from databases such as Google Scholar, Scopus, JSTOR, and Science Direct. Thematic analysis revealed that AI applications are reshaping diverse sectors, including finance, where chatbots and predictive analytics enhance customer service and risk management, and agriculture, where AI-driven tools support yield optimization through real-time weather and soil data insights. Findings indicate that Nigeria's youthful, tech-savvy population and vibrant economy provide fertile ground for AI adoption; however, significant barriers such as poor infrastructure, limited access to quality data, inadequate regulatory frameworks, and insufficient AI-related skills remain.

Effect of firm performance and fuel subsidy removal on consumer goods firms listed in the Nigerian Exchange Group (NGX)

Ochuko Joy Edheku, Nelson Oke Egware, Samuel Ejiro Uwhejevwe-Togbolo

Fuel subsidy policy in Nigeria has been one of the major pillars of the economic management of the country over the decades, and it has significantly influenced the production and cost dynamics of the energy sector, state spending, and the cost regulation of the private industry. The research design applied in the study was quantitative research design guided by panel data analysis to investigate the impact of the removal of fuel subsidy on the performance of consumer goods firms listed in the Nigerian Exchange Group (NGX). The study population comprised all consumer goods companies listed on the NGX, of which 17 firms were sampled based on data availability. The result revealed that the removal of fuel subsidy (FSR) has a negative impact on all performance indicators (ROA, ROE, NPM, and MTB), which is statistically significant, indicating that the subsidy removal policy has had a negative impact on the profitability of firms and their market value.

Bridging dreams and resources: Cultivating entrepreneurial mindsets through social capital in Nigerian higher institutions

A. O. Agbeche, M. Iyamabhor, R. O. Akpubi, N. B. Okwechime, T. F. Ejumudo

This study investigates the role of social capital — specifically civic engagement and trust level — in cultivating entrepreneurial mindsets, proxied by risk-taking and innovativeness, among students in Nigerian higher institutions. With entrepreneurship increasingly recognized as a catalyst for national development, understanding the social conditions that foster entrepreneurial dispositions is vital. A sample of 150 students was selected using simple random sampling from various faculties across selected Nigerian universities. The study employed the Pearson Product Moment Correlation Coefficient to assess the relationship between elements of social capital and entrepreneurial mindset traits. Findings revealed a significant positive correlation between civic engagement and risk-taking, as well as between trust level and innovativeness. These results suggest that students who actively participate in civic activities and exhibit higher levels of interpersonal trust are more likely to demonstrate entrepreneurial tendencies such as risk-taking and innovation.

Influence of administration, social and community, economic, and transfer services on gross domestic product (GDP) in Nigeria

M. S. Ladan, A. Ayodeji, O. Falola

This study examines the relationship between various sectors of government expenditures and Gross Domestic Product (GDP) from 1981 to 2023. Utilizing a robust regression model, our analysis reveals that GDP is influenced by allocations in administrative, social and community services, economic services, and transfer sectors. The results of the robust regression analysis revealed significant coefficients for each sector of government expenditures. Administrative expenditures and social and community services expenditures were found to have a positive effect on GDP, indicating that investments in these areas contribute positively to economic growth. Conversely, economic services expenditures exhibited a negative impact on GDP, suggesting a potential need for further examination of the allocation and effectiveness of resources in this sector. Additionally, the transfer services sector showed a positive influence on GDP, emphasizing the importance of resource transfers in stimulating economic activity.