Search results for: Chigozie Azunna

Authors: Chigozie Azunna

Abstract:

Various studies have been carried out in several countries to determine the relationship between inflation and unemployment. The study was carried out to review this relationship in South Africa. Secondary data was obtained from Statistics South Africa, Reserve bank, and other reliable secondary sources to review this relationship. The study incorporated yearly inflation and unemployment data in South Africa from 2000 to 2022 to explain the relationship between inflation and unemployment in South Africa. The study found the relationship to be nonlinear and lacking any significant association or relationship. Various economic schools of thought postulations were incorporated in the review as it is applied to South Africa. Essentially, the Phillips Curve was reviewed in-line with the study objective.

Keywords: inflation and unemployment in south africa, philips curve, monetarists, neo keynesian, new-classical

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Authors: Godwin Chigozie Okpara, William Chimee Nwaoha

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The paper set out to stress on how financial inclusion index could be calculated and also investigated the impact of inclusive finance on inclusive growth in an emerging economy. In the light of these objectives, chi-wins method was used to calculate indexes of financial inclusion while co-integration and error correction model were used for evaluation of the impact of financial inclusion on inclusive growth. The result of the analysis revealed that financial inclusion while having a long-run relationship with GDP growth is an insignificant function of the growth of the economy. The speed of adjustment is correctly signed and significant. On the basis of these results, the researchers called for tireless efforts of government and banking sector in promoting financial inclusion in developing countries.

Keywords: chi-wins index, co-integration, error correction model, financial inclusion

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Authors: M. Azugama, P. Okoro Ugo Chigozie, A. O. Nnamocha

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Emotional Intelligence constitutes powerful psychological forces that can strongly influence performance in behaviour, interaction and relationship management. Surprisingly how emotions are interpreted and employed in marketing of hospitality experience have had limited comprehension. Marketing of hospitality experiences have important emotional dimensions which the traditional marketing techniques tend to underplay. Guest and host relationship are challenged by mutual hospitableness obligations; suggesting that the commercial practice of delivering satisfactory guest experience has much to gain from traditional understanding of hospitality. By understanding the emotion-based hospitality transaction between guests and hosts, customers’ experiences can be delivered over and against competitor pressure. In this paper, marketing strategies and tactics in hospitality and tourism are principally concerned with adjusting each of the 6P & T elements (i.e. product, place, price and promotion; and adding people, processes and Time in service contexts), to provide a competitive offer (experience) to customers.

Keywords: Emotional intelligence, hospitality and tourism, relationship management, marketing

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Authors: Chigozie P. Ugochukwu Okoro

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While the needs of the traveling public are becoming more evolving due to the ever-changing tourism ecosphere; there is a seeming inability to sustain competitive advantage through hospitality enterprise service quality differentials and effective service delivery. Contending with these evolving needs demands a re-assessment of the notions that drive service evolvement thoughts pattern and service delivery processes management in the hospitality enterprise. The intent of this study was to explicate the trends of the evolving needs of the traveling public that are critical to hospitality enterprise service management. The hypothetical study used customer satisfaction to dissect the strategic implication of perception, experience, and socio-cultural engagements in customization of hospitality enterprise services. The study found out that customer perception is cognitive and does not shape service customization. The study also elucidated that customer experience which can be evaluated, is critical in service structure determination and delivery. Socio-cultural engagement is intrinsic in driving service diversification. The study recommends tourists’ audit and cognitive insights as strategic actions for re-designing service efficiency and delivery in hospitality enterprise service management.

Keywords: hospitality enterprise services, strategic management, quality service delivery, notions of criticality

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Authors: Igbozuruike Chigozie Jude, Agwu Agwu Ejem

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This study investigated that advertisement has an impact on audience retention on YouTube Comedy skits, which is the most watched content on YouTube in Lagos, Nigeria. The main objective was to determine if the advertisements affect the average number of times they spend watching YouTube comedy skits. The study was anchored on Festinger's (1952) cognitive dissonance theory. The research method for this exercise was a survey to get responses from people in Lagos state on how they react to the advertisements they face when watching YouTube comedy skits in Lagos state. The sample size derived from the Krejcie and Morgan (1970) Table was 384 YouTube users. The instrument that was used to gather data was a questionnaire. The findings showed that the adverts have far-reaching exposure by the target audience, but most of the audience perceived them to be intrusive. It was also found that there is not enough evidence to infer that advertisement is indeed impacting audience retention on YouTube comedy skits in Lagos, Nigeria. The reason is that, for a majority of the audience, adverts do not essentially affect their retention on those skits, but for a considerable percentage (34%), these adverts do break their concentration and affect how much time they end up spending on the YouTube comedy skits. It was recommended that, among others, there should be regular monitoring and adaptation of YouTube advertisements to the audience preferences and behaviors of the audience. Insights on changes or trends in audience preferences can be gained through surveys.

Keywords: advertisement, audience, YouTube, comedy skits, Lagos Nigeria

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Authors: Igbozuruike Chigozie Jude, Agwu Agwu Ejem

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This research examines the comparative influence of social media and TV campaigns on youth participation in the 2023 general elections in Nigeria. It interrogates the roles played by these two media in influencing youth participation, especially youths in Nigeria, while revealing the factors that influenced their exposure to the media and their participation. The study employed a survey design of quantitative research method to gather the data for this study. Data was collected through a questionnaire from 300 youths in Lagos. The sample size was selected using a multi-stage cluster sampling technique. Social media was the most media that was rated to have had the most impact on youth participation during the election period with its political campaigns. The elaborate likelihood model was used to underpin the study. The study concluded that social media campaigns played a major role in political participation among the youth during the 2023 general election. It revealed how social media contributed to the youths' participation and influenced them to engage in common forms of political participation. The main recommendation of this study is that since the majority of the youths are between the ages of 18 to 35, the media should work on coming up with more content around the year to sensitize them about their political rights and enlighten them socio-politically so that they grow up to become responsible citizens in the country both politically and socially.

Keywords: social media, general election, Nigeria, political apathy, youth

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Authors: P. Okoro Ugo Chigozie, P. A. Igbojekwe, E. N. Ukabuilu

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Tourism and terrorism experiences are best viewed as dynamic, complex systems with extreme diverse consequences on any nation’s economy. Tourism is one of the biggest industries in the world and one of the economical sectors which grows rapidly; tourism has positive impact on the nation’s economy. Terrorism is the method or the theory behind the method whereby an organized group or party seeks to achieve its avowed aims chiefly through the systematic use of violence; the consequences of terrorism on tourist destinations are inescapable and can be profound. Especially, it threatens the attractiveness of a tourist destination and strips the competitiveness of that destination. Destination’s vulnerability to politically motivated violence not only retracts tourists, but threatens sustainable tourism development. This paper examines the activities of the Jamaata Ahlis Sunna Liddaawati -an Islamic sect popularly known as Boko Haram – and its impact on sustainable tourism development in the Nigeria state. Possible triggers of this insurgency and potentially evolving measure against its influence on sustainable tourism including, strong image management of the tourism industry, feasible tourist safety policy, viable anti-terrorism measures, proactive respond to the challenge of terrorism, reinforcement of the legitimate frameworks and irrevocable penalty against menace of corruption; are discussed in this paper, as limiting the effects of insurgency on the attractiveness of Nigeria as safe tourists destination.

Keywords: Nigeria, terrorism, sustainable tourism development, corruption and competitiveness

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Authors: Godwin Chigozie Okpara

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This paper using standard GARCH, EGARCH, and TARCH models on day of the week return series (of 246 days) from the Nigerian Stock market estimated the model variants’ VaR. An asymmetric return distribution and fat-tail phenomenon in financial time series were considered by estimating the models with normal, student t and generalized error distributions. The analysis based on Akaike Information Criterion suggests that the EGARCH model with student t innovation distribution can furnish more accurate estimate of VaR. In the light of this, we apply the likelihood ratio tests of proportional failure rates to VaR derived from EGARCH model in order to determine the short and long positions VaR performances. The result shows that as alpha ranges from 0.05 to 0.005 for short positions, the failure rate significantly exceeds the prescribed quintiles while it however shows no significant difference between the failure rate and the prescribed quantiles for long positions. This suggests that investors and portfolio managers in the Nigeria stock market have long trading position or can buy assets with concern on when the asset prices will fall. Precisely, the VaR estimates for the long position range from -4.7% for 95 percent confidence level to -10.3% for 99.5 percent confidence level.

Keywords: downside risk, value-at-risk, failure rate, kupiec LR tests, GARCH models

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Authors: Godwin Chigozie Okpara, Eugene Iheanacho

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This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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Authors: Godwin Chigozie Okpara, Eugine Iheanacho

Abstract:

The paper set out to assess the sustainability of debt in the Nigerian economy. Precisely, it sought to determine the level of debt sustainability and its impact on the growth of the economy; whether internationalization of capital market has positively influenced debt sustainability’s impact on economic growth; and to ascertain the direction of causality between external debt sustainability and the growth of GDP. In the light of these objectives, ratio analysis was employed for the determination of debt sustainability. Our findings revealed that the periods 1986 – 1994 and 1999 – 2004 were periods of severe unsustainable borrowing. The unit root test showed that the variables of the growth model were integrated of order one, I(1) and the cointegration test provided evidence for long run stability. Considering the dawn of internationalization of capital market, the researcher employed the structural break approach using Chow Breakpoint test on the vector error correction model (VECM). The result of VECM showed that debt sustainability, measured by debt to GDP ratio exerts negative and significant impact on the growth of the economy while debt burden measured by debt-export ratio and debt service export ratio are negative though insignificant on the growth of GDP. The Cho test result indicated that internationalization of capital market has no significant effect on the debt overhang impact on the growth of the Economy. The granger causality test indicates a feedback effect from economic growth to debt sustainability growth indicators. On the bases of these findings, the researchers made some necessary recommendations which if followed religiously will go a long way to ameliorating debt burdens and engendering economic growth.

Keywords: debt sustainability, internalization, capital market, cointegration, chow test

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Authors: Chukwuma S. Ezeonu, Ikechukwu N. E. Onwurah, Uchechukwu U. Nwodo, Chibuike S. Ubani, Chigozie M. Ejikeme

Abstract:

Trichophyton soudanense and Trichophyton mentagrophyte were isolated from the rice mill environment, cultured and used singly and as di-culture in the treatment of measure quantities of preheated rice husk. Optimized conditions studied showed that carboxymethylcellulase (CMCellulase) activity of 57.61 µg/ml/min was optimum for Trichophyton mentagrophyte heat pretreated rice husk crude enzymes at 50oC and 80oC respectively. Duration of 120 hours (5 days) gave the highest CMcellulase activity of 75.84 µg/ml/min for crude enzyme of Trichophyton mentagrophyte heat pretreated rice husk. However, 96 hours (4 days) duration gave maximum activity of 58.21 µg/ml/min for crude enzyme of Trichophyton soudanense heat pretreated rice husk. Highest CMCellulase activities of 67.02 µg/ml/min and 69.02 µg/ml/min at pH of 5 were recorded for crude enzymes of monocultures of Trichophyton soudanense (TS) and Trichophyton mentagrophyte (TM) heat pretreated rice husk respectively. Biomass components showed that rice husk cooled after heating followed by treatment with Trichophyton mentagrophyte gave 44.50 ± 10.90 (% ± Standard Error of Mean) cellulose as the highest yield. Maximum total lignin value of 28.90 ± 1.80 (% ± SEM) was obtained from pre-heated rice husk treated with di-culture of Trichophyton soudanense and Trichophyton mentagrophyte (TS+TM). The hemicellulose content of 30.50 ± 2.12 (% ± SEM) from pre-heated rice husk treated with Trichophyton soudanense (TS); lignin value of 28.90 ± 1.80 from pre-heated rice husk treated with di-culture of Trichophyton soudanense and Trichophyton mentagrophyte (TS+TM); also carbohydrate content of 16.79 ± 9.14 (% ± SEM) , reducing and non-reducing sugar values of 2.66 ± 0.45 and 14.13 ± 8.69 (% ± SEM) were all obtained from for pre- heated rice husk treated with Trichophyton mentagrophyte (TM). All the values listed above were the highest values obtained from each rice husk treatment. The pre-heated rice husk treated with Trichophyton mentagrophyte (TM) fermented with palmwine yeast gave bio-ethanol value of 11.11 ± 0.21 (% ± Standard Deviation) as the highest yield.

Keywords: Trichophyton soudanense, Trichophyton mentagrophyte, biomass, bioethanol, rice husk

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