Open Access Original Research Article

Testing the Applicability of a Privatization Model on State Owned Enterprises in Namibia

Astro K. Kabuku, Jacob M. Nyambe

Journal of Economics, Management and Trade, Page 1-13
DOI: 10.9734/JEMT/2018/40987

Namibia has several State Owned Enterprises (SOEs) some of which are sustainable while others are state-revenue draining. This study was conceived to explore the factors that lead to success and failure of SOEs in Namibia to attempt to develop a privatisation model that could serve as a pilot model for future privatization efforts within the Namibian context. In Namibia, SOEs are faced with a myriad of challenges ranging from politically motivated appointment of poorly skilled boards, lack of monitoring and evaluation mechanisms, ineffective performance management systems, high remuneration for executives which is not paralleled to productivity of the SOEs, corruption, unsustainable debts, burdensome expenditures, financial mismanagement and poor financial performance. Within the Namibian context, SOEs are classified into four categories, namely regulatory enterprises, service rendering enterprises, general enterprises, and economic and productive enterprises. The economic and productive SOEs were selected by their potential for self-sustainability. A semi-structured questionnaire was used to collect primary data from 31 respondents who occupied management positions within the various departments from the 12 economic and productive SOEs. An Exploratory Factor Analysis model was applied for                   analytical purposes using a Statistical Package for the Social Sciences version 23. The results of this study have several implications for Namibia in the sense that the privatisation model                  identified the factors attributable to the private sector as follow: service experience,                 organisational learning and operational efficiency. The study also identified the following factors with attributes to the public sector: poor corporate governance, low levels of risk management and lack of enterprise sustainability. Reform initiatives in the form of privatisation would, therefore, lead to an improvement in sound corporate governance, improve risk management and enterprise sustainability.

Open Access Original Research Article

Environmental Factors and the Performance of Micro and Small Scale Enterprises (MSEs) in Nigeria: Lessons from Some Selected MSEs in Ondo State Nigeria

Olakunle Jayeola, Timothy Ihinmoyan, Yusau Kunle Kazeem

Journal of Economics, Management and Trade, Page 1-14
DOI: 10.9734/JEMT/2018/42079

Micro and small-scale enterprises (MSEs) are very vital for economic growth and development. Despite their importance, they still contend with myriad of environmental factors (internal and external) which negatively affect their performance. This paper examines the relationship between environmental factors and the performance of MSEs focusing on two commercial towns (Ikare and Ugbe Akoko) in Akoko North East local government of Ondo State, Nigeria. Data were gathered through a structured questionnaire and analysed using descriptive statistics and Spearman Product-Moment Correlations. A purposive sampling technique was employed and a sample of 204 owners/managers of MSEs was surveyed.  The findings revealed that environmental factors (inadequate finance, inadequate infrastructure and poor managerial skills) have a significant                    (p =.05) and negative relationship with MSEs performance (profit, revenue and employees). The findings imply that majority of MSEs are chronically underfinanced as a result of funding inaccessibility. Owners/managers of MSEs do not possess the requisite managerial skills because of the ignorance of training benefits. Lastly, inadequate infrastructure affects MSEs performance minimally because of substitute like generators, sachet water, etc.

Open Access Original Research Article

Public Health Expenditure and Economic Growth in Nigeria: An Error Correction Model

Oladele O. Aluko, Aigbedion I. Marvelous

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/JEMT/2018/37345

This study examines the impact of public health expenditure on economic growth in Nigeria from 1995-2016. Time series data and econometrics tools were used to test for the stationarity, causality and co-integration while Ordinary Least Squares (OLS) and Error Correction Model (ECM) were adopted to estimate the long-run and short run impact of public health expenditure on economic growth in Nigeria The OLS regression result shows that there is a positive relationship between public health expenditure and economic growth in Nigeria at the long run. Similarly, the Error Correction Model (ECM) result shows that public health expenditure has short run impact on economic growth in Nigeria. This implies that public health expenditure has that potency to faster economic growth in Nigeria but government health expenditure and Corruption Perception Index have little or no significant impact of economic growth in Nigeria this may be due to inequitable availability of health care services, poor public and private partnership, poor physical infrastructure and equipment; poor human resources availability and management, inadequate drug supplies, high level of political interference, financial constraints and funds mismanagement, resource allocation and lack of effective regulation or legislation to mention few. Therefore, government should put in place monitoring and evaluation mechanism to ensure that the money released is utilised for the right projects in the health sector for effective health service delivery and for sustainable economic growth in Nigeria.

Open Access Original Research Article

Organisational Culture and Quality Management in the Nigerian Banking Industry

Oladele Michael Ayotunde, Olanipon Olaoluwa Omotayo, K. O. Osotimehin

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/JEMT/2018/37724

This study enumerated different management styles in the Nigerian banks and also analysed the impact/effect of organisational culture on managerial quality styles in the Nigerian banks.

Primary data was used for the study. The study made use of questionnaire to elicit information from 100 middle and top management employees in transaction units and marketing unit of four Deposit Money Banks in Lagos. Data collected were analysed using descriptive and inferential statistics.

The study revealed that the top five quality management styles adopted by banks in the area of study were: leadership styles with a mean score of (4.43); customers’ focus (4.41); team work (4.17); training and education (4.04) and employees’ relation (4.00). The result finally showed that there was significant positive effect of organisational culture on quality of management of Nigerian banks (F= 3.658, p < 0.05), with group culture (t= 2.354, p< 0.05); adhocracy work culture                            (t= 2.325, p< 0.05); macho culture (t= 2.499, p< 0.05) and work hard/play hard culture (t= 4.340,               p< 0.05) making the most significant contributions to quality management in Nigerian banks.

The study concluded that organisational culture had significant effect on the quality of management of Nigerian banks.

Open Access Review Article

Entrepreneurship Development for Diversification of Nigerian Economy

Shuaibu Mukhtar, Umar Garba Gwazawa, Aliyu Musa Jega

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/JEMT/2018/41679

Nigerian economy is mono-cultural dependence on a single commodity-oil, while other sectors of the economy have been relegated or neglected since the discovery of oil, and the management of oil revenues has proven inefficacious in driving the economy to bring about the needed level of growth talk less of development. This has the serious negative implementation of the nation’s development, as good percentage of Nigerians still live in abject poverty and unemployment is on the increase in the country. In respect of this, the paper seeks possible ways to diversify the productive base of the Nigerian economy. It is revealed that considering Nigeria’s peculiar circumstances and successes recorded before the advent of oil, for Nigeria to break loose from the problems inherent in a monotype-economy dominated by oil, which is subject to depletion, international price shocks and unfavourable quota arrangement, there is a need for diversification of Nigerian economy for National development. This paper, therefore, describes the importance of Entrepreneurship as a realistic mechanism for the diversification of Nigerian economic development. It discusses that entrepreneurship has been instrumental in the economic development and job creation in most of the developing economies, and training on entrepreneurship is one of the possible options for diversification of the Nigerian economy. The paper recommended that government should have interest and support entrepreneurship with finance, access to                   licences/ permits, taxes and to be included in the curriculum of studies from primary school to tertiary level.