tag:blogger.com,1999:blog-50800862409456157632024-03-18T22:16:42.024-07:00Professor . Mustapha Muktar ArchivesProfessor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.comBlogger39125tag:blogger.com,1999:blog-5080086240945615763.post-59058885989805229482022-01-30T01:26:00.000-08:002022-01-30T01:26:18.716-08:00INTRODUCTION TO PRIMARY HEALTH CARE<p> </p><p align="center" class="MsoNormal" style="line-height: 150%; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"> INTRODUCTION TO PRIMARY HEALTH CARE<o:p></o:p></span></b></p>
<p align="center" class="MsoNormal" style="line-height: 150%; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><o:p> </o:p></span></b></p>
<p class="MsoNoSpacing"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">Professor
<b style="mso-bidi-font-weight: normal;">Mustapha Mukhtar</b><o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">Bayero
University, Kano-Nigeria<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">mmukhtar.eco@buk.edu.ng<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">http//:www.mustaphamuktar.blogspot.com<o:p></o:p></span></p>
<p class="MsoNoSpacing" style="line-height: 150%;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Introduction <o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Health
is one of the major determinants of human socioeconomic development. It is also
one of the major components of human capital development as well. Individual
health is composed of many parts ranging from biological, social and physical wellbeing.
<span style="mso-spacerun: yes;"> </span>Health is a fundamental human right.
Article 25 of the Universal Declaration of Human Rights grants everyone: the
right to a standard of living adequate for the health and well-being of himself
and his family, including food, clothing, housing, medical care and necessary
social services. Health is the </span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">state of complete
emotional and physical wellbeing. Healthcare exists to help people maintain an
optimal state of health. In 1948, the </span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">World Health Organization WHO</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;"> defined health as a state of complete physical,
mental and social wellbeing and nor merely the absence of disease or infirmity.
</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="background: white; font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">Healthcare is the prevention,
treatment, and management of illness and the preservation of mental and
physical well-being through the services offered by the medical, nursing, and
allied <span style="mso-bidi-font-weight: bold;">health</span> professions.
</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Health
care is a fundamental human good because it affects our opportunity to pursue
life goals, reduces our pain and suffering, helps prevent premature loss of
life, and provides information needed to plan for our lives. Society therefore,
has an obligation to make access to an adequate level of care available to all
its members, regardless of ability to pay.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><o:p> </o:p></span></b></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Primary Health Care (PHC)<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Primary
health care is a means of protecting this right. Primary health care: is essential
care based on practical, scientifically sound and socially acceptable methods
and technology made universally accessible to individuals and families in the
community through their full participation and at a cost that the community and
country can afford to maintain at every stage of their development in the self-reliance
and self-determination: it forms an integral part both of the country</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman";">’</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">s health system, of which it is
the central function and main focus, and of the overall social and economic development
of the community. It is the first level of contact of individuals, the family
and the community with the national health system, bringing health care as
close as possible to where people live and work and constitutes the first
element of a continuing health care process.(Alma Ata 1978 primary Health Care
Conference, Geneva; WHO, UNICEF)<o:p></o:p></span></p>
<p style="line-height: 150%; text-align: justify;"><em><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">"PHC
is a whole-of-society approach to health that aims at ensuring the highest
possible level of health and well-being and their equitable distribution by
focusing on people’s needs and as early as possible along the continuum from
health promotion and disease prevention to treatment, rehabilitation and
palliative care, and as close as feasible to people’s everyday
environment."</span></em><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;"> WHO and UNICEF.
A vision for primary health care in the 21st century: Towards UHC and the SDGs.<o:p></o:p></span></p>
<p style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">PHC
entails three inter-related and synergistic components, including:
comprehensive integrated health services that embrace primary care as well as
public health goods and functions as central pieces; multi-sectoral policies
and actions to address the upstream and wider determinants of health; and
engaging and empowering individuals, families, and communities for increased
social participation and enhanced self-care and self-reliance in health. PHC is
rooted in a commitment to social justice, equity, solidarity and participation.
It is based on the recognition that the enjoyment of the highest attainable
standard of health is one of the fundamental rights of every human being
without distinction.<o:p></o:p></span></p>
<p style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">For
universal health coverage UHC. (UHC means that all individuals and communities
receive the health services they need without suffering financial hardship. It
includes the full spectrum of essential, quality health services, from health
promotion to prevention, treatment, rehabilitation, and palliative care across
the life course) to be truly universal, a shift is needed from health systems
designed around diseases and institutions towards health systems designed for
people, with people. PHC requires governments at all levels to underscore the
importance of action beyond the health sector in order to pursue a whole-of
government approach to health, including health-in-all-policies, a strong focus
on equity and interventions that encompass the entire life-course.<o:p></o:p></span></p>
<p style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">PHC
addresses the broader determinants of health and focuses on the comprehensive
and interrelated aspects of physical, mental and social health and wellbeing.
It provides whole-person care for health needs throughout the lifespan, not
just for a set of specific diseases. Primary health care ensures people receive
quality comprehensive care ranging from promotion and prevention to treatment,
rehabilitation and palliative care as close as feasible to people’s everyday
environment.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">The
basic points in the above definition are:<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">i.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Essential health care: Group of functions
essential for the health of the people given at lower level of health service.
E.g. Medical care, MCH, school health, environmental health, control of
communicable diseases, health education, referral, etc.<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">ii.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Scientifically sound: Scientifically explainable
and acceptable socially acceptable methods and technology: intervention should
consider the local value culture and belief.<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">iii.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Universally accessible: Because of the
inequitable distribution of the available resources, the services are not
reachable by all who need them. Only a few can afford or within the reach to
use them, while the majority are excluded from the service. Therefore, PHC
being <span style="mso-spacerun: yes;"> </span>health care as close as possible to
where people live and work, guarantee universal accessibility<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Evolution of Primary Health Care<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">The
definition of health, in the Charter of WHO as a complete state of physical,
mental, and social well-being is demanding and irrelevance to states struggling
to provide even minimal care in adverse economic, social and environmental
conditions. <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">i.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Despite health being a fundamental human right
the health status of hundreds of millions people in the world was unacceptable.
<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">ii.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">In spite of the tremendous efforts in medicine
and technology, the health status of people in disadvantaged areas of most
countries remained low.<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">iii.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">The organized limited health institutions failed
to meet the demands of those most in need who are usually too poor or
geographically or socially remote to benefit from such facilities
(Accessibility).<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">iv.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">The health services often created were in
isolations, neglecting other sector (Agriculture, Education, Water Supply etc),
which are relevant to the improvement and development of health.<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">v.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Health institutions stressed curative services
with insufficient priority to preventive, promotive and rehabilitative care. <o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="line-height: 150%; margin-left: .75in; mso-add-space: auto; mso-list: l2 level1 lfo3; text-align: justify; text-indent: -.5in;"><!--[if !supportLists]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Garamond; mso-fareast-font-family: Garamond;"><span style="mso-list: Ignore;">vi.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">The community has already been given the
opportunity to play an active role in deciding the types of activities they
want and have not participated in the actual services they receive. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">The
above reasons led WHO and UNICEF to evaluate and reexamine the existing policies
in 1978, Alma-Ata, and the concept of Primary Health Care emerged. <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">An
important preparatory meeting was held in Halifax, Nova Scotia, where nongovernmental
organizations (NGOs), ranging from large, internationally active humanitarian
organizations to small religious groups active in only one country, were able
to review the final draft of the actual conference document. After such extensive
preparation, delegates from 134 nations of the world, plus representatives from
those NGO</span><span style="font-family: "Times New Roman",serif; font-size: 14.0pt; line-height: 150%;">‟</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">s officially accredited by WHO, met during
September 1978 in what was then known as Alma Ata, USSR (now Almaty,
Kazakhstan). In that historic meeting, the nations of the world committed
themselves and their resources to the achievement of health for all the year
2000 through PHC<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">The Alma Ata Conference <o:p></o:p></span></b></p>
<p class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">In <span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">1978</span>, at an international conference convened by the World
Health Organization (WHO) and UNICEF (United Nations Children’s Fund) in
Kazakhstan, the 134 members of the World Health Assembly of World Health
Organization ratified the Declaration of Alma-Ata (World Health
Organization, <span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;"><a href="https://oxfordre.com/publichealth/view/10.1093/acrefore/9780190632366.001.0001/acrefore-9780190632366-e-55#acrefore-9780190632366-e-55-bibItem-0088"><span style="color: windowtext; text-decoration: none; text-underline: none;">1978</span></a></span>).
The declaration committed member states to supporting Primary Health Care (PHC)
as a policy to achieve the WHO definition of health as a “state of complete
physical, mental and social well-being and not merely the absence of disease or
infirmity” (WHO, <span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;"><a href="https://oxfordre.com/publichealth/view/10.1093/acrefore/9780190632366.001.0001/acrefore-9780190632366-e-55#acrefore-9780190632366-e-55-bibItem-0090"><span style="color: windowtext; text-decoration: none; text-underline: none;">2006a</span></a></span>).
PHC was grounded in the concern for social justice created by the devastation
in Europe and rapid decolonization of Asia and Africa following the end of the
Second World War. <o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">The
motivation to support the policy arose out of the belief of most of the
national governments of the victorious countries that it was imperative to
eradicate pervasive poverty and ensure human rights. PHC was built on the
principles of equity in access to health services and the right of people to
participate in decisions about their own healthcare. Underpinning these
principles was support for preventive and promotive health services,
appropriate technology, and intersectoral collaboration. It has been argued
that PHC began a shift in health paradigms from a definition of health as
limited to biomedical research, the provision of health services by
professionals, and institutional care in hospitals and sub health units such as
health centers to a broader focus that included the social determinants of
health. <span style="mso-spacerun: yes;"> </span>This was a visionary concept
that pushed the conventional understanding of how health improves from the
realm of biomedicine into a realm of social, economic, and political
investigation and action.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p> </o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">To
implement the declaration, WHO declared “Health for all by the Year <span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">2000</span>,” creating a goal for national governments that
coincided with other UN efforts to address the global and political situation
in the 1970s. These efforts included recognizing that health was an integral
part of other national development strategies, addressing peoples’ basic needs,
and calling for a “new economic order” that was focused on restructuring the
world economy to ensure more participation for the developing countries <o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Extracts from Alma Ata Conference <o:p></o:p></span></b></p>
<ul type="disc">
<li class="MsoNormal" style="line-height: 150%; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">The Conference strongly reaffirms that health, which is a state of
complete physical, mental, and social well-being, and not merely the
absence of disease or infirmity, is a fundamental human right and that the
attainment of the highest possible level of health is a most important
world-wide social goal whose realization requires the action of many other
social and economic sectors in addition to the health sector.<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">The existing gross inequality in the health status of the people, particularly
between developed and developing countries as well as within countries, is
politically, socially, and economically unacceptable and is, therefore, of
common concern to all countries.<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">The people have a right and duty to participate individually and
collectively in the planning and implementation of their health care.<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Primary health care is essential health care based on practical,
scientifically sound, and socially acceptable methods and technology made
universally accessible to individuals and families in the community
through their full participation and at a cost that the community and
country can afford to maintain at every stage of their development in the
spirit of self-reliance and self-determination. It forms an integral part
both of the country's health system, of which it is the central function
and main focus, and of the overall social and economic development of the
community. It is the first level of contact of individuals, the family,
and community with the national health system bringing health care as
close as possible to where people live and work, and constitutes the first
elements of a continuing health care process.<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: 150%; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">An acceptable level of health for all the people of the world by
the year 2000 can be attained through a fuller and better use of the
world's resources, a considerable part of which is now spent on armaments
and military conflicts. A genuine policy of independence, peace, détente,
and disarmament could and should release additional resources that could
well be devoted to peaceful aims and in particular to the acceleration of
social and economic development of which primary health care, as an
essential part, should be allotted its proper share.<o:p></o:p></span></li>
</ul>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;">Objectives of Primary Health Care<o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">1. To make health
services accessible and available to everyone<span style="mso-spacerun: yes;">
</span>wherever they live or work.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">2. To tackle the health
problems causing the highest mortality and morbidity at the cost that the
community can afford <o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">3. To ensure that
whatever technology is used, must be within the ability of the community to use
effectively and maintain<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">4. To ensure that in
implementing the health program, the community must be fully involved in
planning the delivery and evaluation of the services in the spirit of self reliance<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt;">5.</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> To increase the
programs and services that affect the healthy growth and development of
children and youth.</span><span style="font-family: "Garamond",serif; font-size: 14.0pt;"><o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 3.75pt; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">6. To develop community satisfaction
with the primary health care system.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 3.75pt; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">7. To support and advocate for healthy
public policy within all sectors and levels of government.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 3.75pt; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">8. To provide reasonable and timely
access to primary health care services.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 3.75pt; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">9. To apply the standards of
accountability in professional practice.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 3.75pt; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">10. To establish, within available
resources, primary health care teams and networks.<o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 3.75pt; text-align: justify; vertical-align: baseline;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">11. To support the provision of
comprehensive, integrated, and evidence-based primary health care services.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt;"><o:p> </o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 2; text-align: justify;"><b><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Importance
of Primary Health Care <o:p></o:p></span></b></p>
<p class="MsoNormal" style="line-height: 150%; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="background: white; color: #2f2e2e; font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">Primary health care is the first level of healthcare that
forms the foundation for the formal health care system. Provision for this can
be through a variety of settings from community clinics to private practices.
Primary health care helps to promote health and prevent illness. It also helps
to identify, treat, and refer patients to specialists when appropriate</span><o:p></o:p></p>
<p class="MsoNormal" style="line-height: 150%; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="background: white; color: #2f2e2e; font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial;">According to the World Health Organization, primary health
care can address most of an individual’s health needs throughout their life.
This includes prevention, treatment, rehabilitation, and palliative care. With
proper usage, primary health care is also able to provide empowering education.
This ensures that people are able to take timely health-related decisions about
themselves and their family members. Also, it reduces deaths and disability</span><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">PHC is the most inclusive, equitable,
cost-effective and efficient approach to enhance people’s physical and mental
health, as well as social well-being. Evidence of wide-ranging impact of
investment in PHC continues to grow around the world, particularly in times of
crisis.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Across the world, investments in PHC improve equity
and access, health care performance, accountability of health systems, and
health outcomes. While some of these factors are directly related to the health
system and access to health services, the evidence is clear that a broad range
of factors beyond health services play a critical role in shaping health and
well-being. These include social protection, food systems, education, and
environmental factors, among others.<o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Primary Health Care is also critical to make health
systems more resilient to situations of crisis, more proactive in detecting
early signs of epidemics and more prepared to act early in response to surges
in demand for services. <o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: baseline;"><span style="border: none windowtext 1.0pt; color: #2f2e2e; font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Access to Primary Health Care therefore, is a way of achieving the
Universal Health Coverage (all people have access to the health services they
need) </span><span style="color: #2f2e2e; font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></p>
<p class="MsoNormal" style="line-height: 150%; text-align: justify;"><span style="font-family: "Garamond",serif; font-size: 14.0pt; line-height: 150%;"><o:p> </o:p></span></p>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-24817199401735173562019-03-03T11:59:00.001-08:002019-03-03T11:59:07.031-08:00Theories of Wages Determination<br />
<h3 align="center" style="background: white; line-height: 150%; text-align: center; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 18.0pt; line-height: 150%; mso-border-alt: none windowtext 0in; padding: 0in;">Theories of Wages Determination</span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 18.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;"><o:p></o:p></span></h3>
<h3 align="center" style="background: white; line-height: 150%; text-align: center; vertical-align: baseline;">
<span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-weight: normal;">Professor Mustapha Muktar<o:p></o:p></span></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-weight: normal;">Introduction<o:p></o:p></span></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial;">A
factor of production is</span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"> an economic
term that describes </span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial;">the</span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><span style="-webkit-text-stroke-width: 0px; float: none; font-variant-caps: normal; font-variant-ligatures: normal; orphans: 2; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;"> inputs used
in </span></span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial;">the production</span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><span style="-webkit-text-stroke-width: 0px; float: none; font-variant-caps: normal; font-variant-ligatures: normal; orphans: 2; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;"> of goods or
services in order to make an economic profit</span>. </span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold;">Factors of
production are the resources people use to produce goods and services; they are
the building blocks of any economy. Economists they are basically four: land,
labor, capital, and entrepreneurship.</span><o:p></o:p></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">The term “land” in economics is
used in </span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">technical
</span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">sense. It </span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">includes </span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">the surface of the soil </span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">and</span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;"> all those natural resources
which are the free gift of nature like farm land, forest, fishing areas and
mineral wealth (such as coal, gold, iron, ore, tin, petroleum, etc)</span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">. </span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold;">Land resources
are the raw materials in the production process. These resources can be
renewable, such as forests, or nonrenewable such as oil or natural gas. The
income that resource owners earn in return for land resources is called. </span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">The return
to land is rent</span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">.</span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold;"><o:p></o:p></span></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold;">Labour is </span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">human mental and physical effort
that is used in production. In other words, it is human energy and brain that
is used in any production process. The number of people willing to work is
called the labour force; the total number of hours they are willing to work is
called the su</span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">p</span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">ply of labour. Supply of labour
may also mean the supply of labour services available for production</span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">.<span style="mso-spacerun: yes;"> </span></span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold;">Labor resources include the work done by soldiers,
teachers and engineers. </span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">The return to labour are salaries, wages,
bonuses<span style="mso-spacerun: yes;"> </span>and other payments</span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;"> </span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;"><o:p></o:p></span></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">The capital stock consists of all
those produced goods that are used in the production of other goods and
services. Factories, machines, tools, computers, roads, bridges, houses and
railways are a few examples. According to Marshall “capital consists of all
kind of wealth, other than free gift of nature, which yields income”. <o:p></o:p></span></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold;">The income
earned by owners of capital resources is interest. </span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">The pure return on capital is the
amount that capital could earn in a favorable investment </span><span lang="HA" style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">at
equilibrium</span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">. When expressed as a
return per N1 worth of capital invested, the result is called the interest<o:p></o:p></span></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial;">Entrepreneurship</span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><span style="-webkit-text-stroke-width: 0px; float: none; font-variant-caps: normal; font-variant-ligatures: normal; orphans: 2; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;"> is the
process of designing, launching and running a new business, which is often
initially a small business. The people who create these businesses are called </span></span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial;">entrepreneurs</span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><span style="-webkit-text-stroke-width: 0px; float: none; font-variant-caps: normal; font-variant-ligatures: normal; orphans: 2; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;">.</span></span><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;"> </span><span style="background: white; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold;">An entrepreneur is a person who
combines the other factors of production - land, labor, and capital - to earn a
profit. The most successful entrepreneurs are innovators who find new ways
produce goods and services or who develop new goods and services to bring to
market. Without the entrepreneur combining land, labor, and capital in new
ways, many of the innovations we see around us would not exist. The reward to
entrepreneur is profits.<o:p></o:p></span></h3>
<h3 style="background: white; line-height: 150%; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%;">Theories
of Wages Determination<o:p></o:p></span></h3>
<h4 style="background: white; line-height: 150%; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; line-height: 150%; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;">Subsistence theory of Wages determination<o:p></o:p></span></h4>
<h4 style="background: white; line-height: 150%; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Subsistence theory of Wages determination
was put forward by economists prominent among them is David Ricardo and Karl Marx<o:p></o:p></span></h4>
<h4 style="background: white; line-height: 150%; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Assumptions:</span><span style="color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;"><o:p></o:p></span></h4>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">According to Ricardo, this theory is based on the
following two assumptions:</span><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";"><span style="mso-spacerun: yes;"> </span>1. Population increases at a faster rate.<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif";"> 2. Food production is subject to
the law of diminishing returns.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">According to this theory,
wages of a worker in the long run are determined at that level of wages which
is just sufficient to meet the necessaries of life. This level is called the
subsistence level. The classical economists called it the neutral level of
wages. In this way, the pro-pounders of the theory believed in the bargaining
power of the workers. In such a situation, trade unions play an important role
in increasing wages.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">Wages
of labour are equal to subsistence level in the long run. If wages fall below
this level, workers would starve. It will reduce their supply. Thus, the wage
rate will rise to the subsistence level. On the other hand, if wages tend to
rise above the subsistence level, workers would be encouraged to bear more
children which will increase the supply of workers, which in turn will bring
wages down to the subsistence level. <strong style="outline: 0px;"><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-weight: normal; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">It
can be shown with the help of the following figure:</span></strong><o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;"><a href="http://cdn.economicsdiscussion.net/wp-content/uploads/2015/05/clip_image00248.jpg" style="outline: 0px;"><span style="color: windowtext; font-family: "Georgia","serif"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shapetype
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alt="Decrease in Wages Due to Increase in Labour Supply"
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</v:shape><![endif]--><!--[if !vml]--><span style="mso-ignore: vglayout;"><img alt="Decrease in Wages Due to Increase in Labour Supply" border="0" height="236" src="file:///C:\Users\PROFES~1\AppData\Local\Temp\msohtmlclip1\01\clip_image001.jpg" v:shapes="Picture_x0020_6" width="249" /></span><!--[endif]--></span></a></span><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">In
Fig. 1 demand and supply of labour has been measured on OX-axis and wage rate
on OY-axis. OW is the subsistence level of wages. At OW wage rate supply of
labour is perfectly elastic. Since, supply of labour is perfectly elastic, wage
rate neither can fall below OW nor can increase above the level of OW. Although
demand increases from DD to D<sub style="bottom: -0.25em; outline: 0px;"><span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">1</span></sub>D<sub style="bottom: -0.25em; outline: 0px;"><span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">1</span></sub> yet the wage rate remains the same at OW.<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<br /></div>
<div style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Limitations of the theory<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">One Sided Theory:</span><span style="font-family: "Georgia","serif";"> This theory examines the wage determination from the side
of supply and ignores the demand side.<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Pessimistic:</span><span style="font-family: "Georgia","serif";">
Subsistence theory of wages is highly pessimistic for the working class. It
presents a dark picture of the future of the society.<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif";">This theory is based on the assumption of
long run. It does not explain the determination of wages at in the shortrun<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif";">The theory assumes that all the workers
get equal wages. As we know, the workers differ in their productivity, and
hence, wages have to be different<o:p></o:p></span></div>
<h3 style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%; mso-border-alt: none windowtext 0in; padding: 0in;"><o:p> </o:p></span></h3>
<h3 style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%; mso-border-alt: none windowtext 0in; padding: 0in;"><o:p> </o:p></span></h3>
<h3 style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%; mso-border-alt: none windowtext 0in; padding: 0in;">Marginal Productivity Theory of
Wages Determination</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></h3>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">This theory was first of all
propounded by Thunnen. Later on, economists like Wicksteed, Walras, J.B Clark
etc. modified the theory. The marginal productivity theory states that labour
is paid according to his contribution in production. A producer hires the
services of labour because he possesses the ability to contribute in
production. If worker contributes more to production he is paid more wages and
if he contributes less, wages also will be low. Marginal productivity of labour
refers to change in total revenue by putting one more labourer, keeping all the
other factors constant.<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif";">As a result of competition between
employees for labour and between workers for employment, a wage-rate is
determined that is equal to the marginal productivity of the labour-force.<o:p></o:p></span></div>
<h4 style="background: white; line-height: 150%; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Assumptions:</span><span style="color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;"><o:p></o:p></span></h4>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">1. All labourers are equally
efficient.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">2. Constant technology<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">3. Perfect competition
prevails both in factor and product markets.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">4. There is full employment of
resources<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">5. Law of diminishing marginal
returns apply on the marginal productivity of labour.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">6. Labour is perfectly mobile.<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif";">Under the conditions of perfect
competition, wages are determined by the value of marginal product of labour.
Marginal product of labour in any industry refers to the amount by which output
increases when one more labour is employed.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">Value of marginal product of
labour is the price which the marginal product can fetch in the market. Under
the conditions of perfect competition, an employer will go on employing more
labourers but, due to the operation of the law of diminishing returns, the
marginal product of labour will diminish until a point comes when the value of
the increase in the product will be equal to the wages paid to that labourer.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<strong style="outline: 0px;"><span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-weight: normal; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">The
marginal productivity theory can be explained with the help of the following
figure:</span></strong><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;"><a href="http://cdn.economicsdiscussion.net/wp-content/uploads/2015/05/clip_image00440.jpg" style="outline: 0px;"><span style="color: windowtext; font-family: "Georgia","serif"; mso-no-proof: yes; text-decoration: none; text-underline: none;"><!--[if gte vml 1]><v:shape
id="Picture_x0020_11" o:spid="_x0000_i1025" type="#_x0000_t75" alt="Marginal Productivity Theory of Wages "
href="http://cdn.economicsdiscussion.net/wp-content/uploads/2015/05/clip_image00440.jpg"
style='width:183.75pt;height:171pt;visibility:visible;mso-wrap-style:square'
o:button="t">
<v:imagedata src="file:///C:\Users\PROFES~1\AppData\Local\Temp\msohtmlclip1\01\clip_image002.jpg"
o:title="Marginal Productivity Theory of Wages "/>
</v:shape><![endif]--><!--[if !vml]--><span style="mso-ignore: vglayout;"><img alt="Marginal Productivity Theory of Wages " border="0" height="228" src="file:///C:\Users\PROFES~1\AppData\Local\Temp\msohtmlclip1\01\clip_image002.jpg" v:shapes="Picture_x0020_11" width="245" /></span><!--[endif]--></span></a></span><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">In Fig. 2 number of labourers
is measured on OX-axis and wage rate on OY-axis. ARP and MRP are average
revenue productivity and marginal revenue productivity curves respectively. The
equilibrium wage rate will be determined at a point where both the ARP and MRP
are equal to each other.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">In the figure, the equilibrium
wage rate (OW) is determined at point E because at this point both the ARP and
MRP are equal. The firm at OW wage rate will employ OX number of labourers. If
the firm employs more workers than OX, it will have to face more losses or
fewer profits. Therefore, the ideal situation for a firm is to employ workers
up to the point where ARP and MRP are equal.<o:p></o:p></span></div>
<h4 style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="border: none windowtext 1.0pt; color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; line-height: 150%; mso-bidi-font-style: italic; mso-border-alt: none windowtext 0in; padding: 0in;">Limitations
of the Theory</span><span style="color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; line-height: 150%; mso-bidi-font-style: italic;"><o:p></o:p></span></h4>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Unrealistic Assumptions:</span><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">The foremost defect of the
theory is that it is based on unrealistic assumptions like perfect competition,
homogeneous character of labour and others<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif";">The theory fails to take into account
that labour is also a function of wages. Less productivity may be the effect of
low wages which adversely affects the efficiency of labour and in turn reduces
the labour productivity. <o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">The marginal productivity
theory is one sided. It takes into consideration only the demand side and
ignores the supply side. It also failed <span style="border: none windowtext 1.0pt; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">to
determine Wages</span> since it only guides the employer to employ workers up
to the level where their marginal productivity equals price. But, it does not
tell how the wages are determined.<o:p></o:p></span></div>
<h3 style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; font-weight: normal; line-height: 150%; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;"><o:p> </o:p></span></h3>
<h3 style="background: white; line-height: 150%; margin-bottom: .0001pt; margin: 0in; text-align: justify; vertical-align: baseline;">
<span style="border: none windowtext 1.0pt; font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%; mso-border-alt: none windowtext 0in; padding: 0in;">Modern Theory of Wages Determination</span><span style="font-family: "Georgia","serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></h3>
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<span style="font-family: "Georgia","serif";">Modern theory of wages regards
wages as a price of labour and all other prices determined by the usual supply
and demand analysis. According to this approach, wages are determined by the
interaction of market forces of demand and supply.<o:p></o:p></span></div>
<h4 style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="border: none windowtext 1.0pt; color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Demand for Labour:</span><span style="color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;"><o:p></o:p></span></h4>
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<span style="font-family: "Georgia","serif";">The demand for labour comes
from the entrepreneurs as it is used for the production of goods and services.
Thus, the demand for labour depends upon the productivity of labour i.e., the
higher the productivity of labour, the greater will be the demand for it from
employers. Thus, demand for labour depends upon the marginal productivity of
labour; since the marginal productivity of labour will slope downwards after a
stage, the demand curve of labour will also slope downward.<o:p></o:p></span></div>
<h4 style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="border: none windowtext 1.0pt; color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-border-alt: none windowtext 0in; padding: 0in;">Supply of Labour:</span><span style="color: windowtext; font-family: "Georgia","serif"; font-size: 12.0pt; font-style: normal; font-weight: normal; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;"><o:p></o:p></span></h4>
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<span style="font-family: "Georgia","serif";">Supply of labour in an economy
depends upon both economic as well as non-economic factors. Economic factors
influencing the supply of labour comprises of existing employment, desire to
increase monetary income, bargaining power of the labourers, size of population,
income distribution etc. while the non-economic factors consist of family
affection, social conditions, domestic environment etc.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">Psychological factors also
affect the supply of labour. It is only due to the psychological factors that a
worker decides how much time he should devote to work and how much to leisure.
Moreover, the supply of labour also depends on the elasticity.<o:p></o:p></span></div>
<div style="-webkit-text-stroke-width: 0px; background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; orphans: 2; outline: 0px; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; vertical-align: baseline; widows: 2; word-spacing: 0px;">
<span style="font-family: "Georgia","serif";">The supply of labour for a
firm is perfectly elastic, so, the firm at current wages can employ as many
workers as it wishes. On the contrary the nature of supply of labour for an
industry is not infinitely elastic. Thus, it cannot employ more and more
labourers at the current wage rate. The industry can do so by attracting
labourers from other industries by offering them higher wages. <o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<span style="font-family: "Georgia","serif";">According to the modern theory, wages are
determined at the point of intersection of demand and supply for labour.<o:p></o:p></span></div>
<div style="background: white; line-height: 150%; margin-bottom: .2in; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: baseline;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Georgia","serif";">Factors
that Determines wages in reality<o:p></o:p></span></b></div>
<div style="background: white; margin-bottom: .2in; margin-left: .5in; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; vertical-align: baseline;">
<!--[if !supportLists]--><span style="font-family: "Georgia","serif"; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Georgia","serif";">Demand
and supply conditions of labour<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Georgia","serif"; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Georgia","serif";">Length
of training and working experience<o:p></o:p></span></div>
<div style="background: white; margin-bottom: .2in; margin-left: .5in; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; vertical-align: baseline;">
<!--[if !supportLists]--><span style="font-family: "Georgia","serif"; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Georgia","serif";">Trade
or Workers Union<o:p></o:p></span></div>
<div style="background: white; margin-bottom: .2in; margin-left: .5in; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; vertical-align: baseline;">
<!--[if !supportLists]--><span style="font-family: "Georgia","serif"; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Georgia","serif";">Social
Importance of Job<o:p></o:p></span></div>
<div style="background: white; margin-bottom: .2in; margin-left: .5in; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; vertical-align: baseline;">
<!--[if !supportLists]--><span style="font-family: "Georgia","serif"; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Georgia","serif";">Government
and or employers Policy<o:p></o:p></span></div>
<div style="background: white; margin-bottom: .2in; margin-left: .5in; margin-right: 0in; margin-top: 0in; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -.25in; vertical-align: baseline;">
<!--[if !supportLists]--><span style="font-family: "Georgia","serif"; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">6.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Georgia","serif";">Other
factors <o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal">
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<br />Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-79872070828349115742018-07-15T13:13:00.002-07:002018-07-15T13:14:36.513-07:00STEM EDUCATION AS AN INSTRUMENT FOR ACHIEVING ECONOMIC DIVERSIFICATION IN NIGERIA<span style="font-family: "calibri light"; font-weight: bold;">STEM EDUCATION AS AN INSTRUMENT FOR ACHIEVING ECONOMIC
DIVERSIFICATION IN NIGERIA</span><br />
<span style="font-family: "calibri light"; font-weight: bold;"><br /></span>
<br />
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<span style="color: black; font-weight: bold;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Professor
Mustapha Muktar</span></span></div>
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<span style="color: black;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Department
of Economics</span></span></div>
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<span style="color: black;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Bayero
University Kano</span></span></div>
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<span style="color: black;"><a href="mailto:muktaronline@yahoo.com"><span style="font-family: "arial" , "helvetica" , sans-serif;">muktaronline@gmail.com</span></a></span></div>
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<span style="color: red;"><span style="font-family: "arial" , "helvetica" , sans-serif;">http//:www.mustaphamuktar.blogspot.com</span></span></div>
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<span style="color: red;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span></div>
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<span style="color: red;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span></div>
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<span style="color: red;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span></div>
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Outline</div>
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<span style="font-family: "arial";">•</span><span style="font-family: "calibri";">Introduction</span></div>
<br />
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Concept of Diversification</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Economic Diversification</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Need for Economic Diversification in
Nigeria</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM Education</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM Fields</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Target Sectors for Economic
Diversification through STEM Education</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Challenges to STEM Education in Nigeria</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Conclusion</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">The Way forward</span></div>
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<span style="color: red;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span></div>
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<span style="color: red;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Introduction</span></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Nigeria
is the most populated African nation with a population of about 160 million.
The nation is made up of people of diverse cultures and religions endowed with
many natural resources scattered in different parts of the territory</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";"> At
independence in 1960, the main source of the nation’s revenue was agriculture
and extraction of solid minerals. The discovery of petroleum in the country in
the 1960s and the blooming of petroleum in the global market led to her over
dependence on petroleum and a gradual but consistent neglect of agriculture and
other sectors of the economy.</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Today
petroleum accounts for over 90% of Nigeria’s export revenue and over 80% of the
government’s budget Most of this petroleum revenue has been mismanaged through
corruption, and myopic short term economic programmes. The situation has left
the economy of the country at the mercy of the vagaries (Jekwe, 2015)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">With
the continuing decline in global oil prices coupled with decline in crude oil
output due to the activities of militants in the Niger Delta region, declining in the demand of the crude oil from
our major </span><span style="font-family: "calibri";">importers,
</span><span style="font-family: "calibri";">and
sourcing for alternative energy by other crude oil importing countries </span><span style="font-family: "calibri";">left
Nigeria with </span><span style="font-family: "calibri";">no
other choice than diversification of </span><span style="font-family: "calibri";">its economy </span><span style="font-family: "calibri";">from
mono product economy to diverse </span><span style="font-family: "calibri";">one</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Nigeria’s
intrinsic potential lies beyond oil; harnessing this potential has become an
imperative given the expectations of lower for longer oil prices based on
recent trends</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">Diversification</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Diversification
entails the creation of many productive avenues such as in agriculture and
industry, by the introduction of a greater variety of agricultural and
industrial produce, or in terms of creation of entirely new productive sectors</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">It is
the process whereby a growing range of economic outputs are produced, It can
also refer to the diversification of markets for exports or of income sources. </span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">To
diversify an economy first, there is need to give priority to the development
of agriculture and industrial raw-materials locally</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Initially
industrial capability of the country in producing exportables will be greatly
enhanced and food security would also be achieved</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Secondly,
policies must be deliberately shifted away from inward-looking
industrialization around the home market towards systematic efforts to export
industrial products</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Third
is marketing and export promotion strategy such that marketing will help to
export the manufactured products to earn foreign exchange</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">Economic diversification</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">According
</span><span style="font-family: "calibri";">to
Anthony </span><span style="font-family: "calibri";">and
Chukwudi (</span><span style="font-family: "calibri";">2015)Economic
</span><span style="font-family: "calibri";">diversification
refers to broadening the range of economic activities both in production and
distribution of goods and </span><span style="font-family: "calibri";">services</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">It </span><span style="font-family: "calibri";">is a
process that helps and immunes a country from volatility of a single commodity.
Economic diversification is generally taken as the process in which a growing
range of economic outputs is </span><span style="font-family: "calibri";">produced</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">To
Samuelson </span><span style="font-family: "calibri";">(1968,
in Ojefia 2016) </span><span style="font-family: "calibri";">economic
</span><span style="font-family: "calibri";">diversification
</span><span style="font-family: "calibri";">is </span><span style="font-family: "calibri";">an
act of investing in a variety of assets. Its benefit is that it reduces the
risk, especially in the time of recession, inflation, deflation, etc. </span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Economic
</span><span style="font-family: "calibri";">diversification
has been used as a strategy to transform the economy from using a single source
to multiple sources of income spread over primary, secondary and tertiary
sectors, involving large sections of the </span><span style="font-family: "calibri";">population</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";"> </span><span style="font-family: "calibri";">By
implication economic diversification implies a large-scale of structural
transformation in the way value is crated in an economy and the way it is
distributed across the different </span><span style="font-family: "calibri";">sectors</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">Economic Diersification</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">To
insulate the economy from the risk of being vulnerable to a single commodity
(oil) as oil price is volatile (it exhibits shocks)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">To
create jobs that can raise the standard of living of an average Nigerian: Oil
and Gas jobs account for less than 1% of total employment and the working
population can no longer be absorbed by the public sector</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">To
prepare for life beyond the oil resource. Thus, diversification has been the
subject of numerous plans and initiatives by various governments</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">To
explore and tap opportunities and potentialities from other sectors of the
economy (agriculture, manufacturing, education, construction and tourism)</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">STEM Education</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
is the abbreviation for Science Technology, Engineering and Mathematics</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">It
may include curriculum for career clusters other than engineering and computer
science it can include </span><span style="font-family: "calibri";">healthcare
science, agricultural science, biotechnology, </span><span style="font-family: "calibri";">and food </span><span style="font-family: "calibri";">and nutrition </span><span style="font-family: "calibri";">science</span></div>
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<br />
<!--[endif]--></div>
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<span style="font-family: "arial";">STEM Fields</span></div>
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<span style="font-family: "arial";"><br /></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Science
is </span><span style="font-family: "calibri";">the systematic study of the nature and
behavior of the material and physical universe, based on observation,
experiment, and measurement, and the formulation of laws to describe these
facts in general terms (Science, 2012</span><span style="font-family: "calibri";">)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">
Technology is </span><span style="font-family: "calibri";">the
branch of knowledge that deals with the creation and use of technical means and
their interrelation with life, society, and the </span><span style="font-family: "calibri";">environment </span><span style="font-family: "calibri";">(Technology,
2012</span><span style="font-family: "calibri";">)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">
Engineering is the </span><span style="font-family: "calibri";">art
or science of making practical application of the knowledge of pure sciences,
as physics or chemistry, as in the construction of engines, bridges, buildings,
mines, ships, and chemical plants (Engineering, 2012</span><span style="font-family: "calibri";">)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Mathematics</span><span style="font-family: "calibri";">: </span><span style="font-family: "calibri";">is a </span><span style="font-family: "calibri";">group
of related sciences, including algebra, geometry, and calculus, concerned with
the study of number, quantity, shape, and space and their interrelationships by
using a specialized notation (Mathematics, 2012).</span></div>
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<span style="font-family: "calibri";"><b><br /></b></span></div>
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<span style="font-family: "calibri";"><b>Target Sectors for Diversification</b></span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri"; font-weight: bold;">Agriculture</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Besides
being a potential source of export revenues, agriculture is estimated to
account for close to 60% of GDP and 50% of employment making it a sector with a
key multiplier impact</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">The
agricultural sector has the potentials of reducing food insecurity, providing
raw materials to industries and feeding the west African markets as well</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
Education can help transform agriculture through research and development of
modern methods of farming, high yielding variety seeds, modern implements, as
well as modern animal husbandry,
horticulture, fishery and other in the sector</span></div>
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<span style="text-indent: -0.25in;"><span style="font-family: "arial"; mso-special-format: bullet;">•</span></span><span style="font-family: "calibri"; text-indent: -0.25in;">By
and large information technology which is a product of STEM education can be
used to transform the sector by providing information on inputs prices, output
prices and better marketing</span><span style="font-family: "calibri";"> </span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Manufacturing
sector in Nigeria have a vast potential for contributing to growth and
development due to abundant labour force coupled with the agrarian nature of
the economy. If well organized it would </span><span style="font-family: "calibri";">create more jobs and wealth for the </span><span style="font-family: "calibri";">citizens
</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">It
will </span><span style="font-family: "calibri";">produce
what we consume as a nation and generate foreign exchange by exporting </span><span style="font-family: "calibri";"> surpluses</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
Education if implemented well have the capacity of transforming the sector,
this can be achieved through scientific researches and innovation and
implementing the findings to develop manufacturing</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
also have the potentials of transforming relevant researches </span><span style="font-family: "calibri";">into
a discovery and problem-solving arena. This encourages creativity </span><span style="font-family: "calibri";">and
hence growth and development</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";"> The </span><span style="font-family: "calibri";">technological
process of conversion and transformation of raw materials into varying degrees
and classes of goods and services for human consumption holds the ace for
prosperity and national development</span></div>
</div>
</div>
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<span style="font-family: "arial"; mso-special-format: bullet;"><br /></span></div>
</div>
</div>
</div>
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<span style="font-family: "calibri"; font-weight: bold;">C</span><span style="font-family: "calibri"; font-weight: bold;">hemical
and nonmetallic mineral products</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Diversification
of downstream sector of petroleum will develop petrochemicals, fertilizers,
methanol and refining, industries relevant in both industrial and consumer
products which Nigeria currently imports</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
Education if enhanced will produce labour force and facilities that can be able
to transform and handle the sector locally thereby reaping all the benefits
associated to the mining sector</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">The
development of the mining sector means a reduction in imports and increase in
exports and consequently and increase in the foreign earnings and availability
of products from the sector</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri"; font-weight: bold;">Information
Communication Technology (ICT)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Information
communication technology is one of the issues that occupy the international
economic order. With globalization, the world is now integrated into an entity</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
Education is the backbone of ICT worldwide, therefore if well adopted, it has
the propensity of tapping the potentialities and making Nigeria among the
competitive economies of the world</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">With
a large population of young urban people, Nigeria has the opportunity to
leverage mobile technology to generate improved social and economic outcomes
across the consumer sector through e-commerce, e-banking, mobile banking and
mobile insurance and other electronic based economic activities</span></div>
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<div style="direction: ltr; language: en-US; line-height: 90%; margin-bottom: 0pt; margin-left: 0in; margin-top: 10.0pt; mso-line-break-override: none; punctuation-wrap: hanging; text-align: center; text-indent: 0in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "calibri"; font-weight: bold;">Trade
and Commerce</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Trade
accounts for 17% of GDP and 23% of employment and has recorded average real GDP
growth rate of 5.48 in Nigeria(LCCI 2016)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">The
current retail distribution range from the traditional street trading and open
market, to neighborhood groceries and now modern shopping malls</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";"> The
potential of this sector can be improved with effective STEM Education, through
modernization of trade to conform to global best practices, this can manifest
in trading online, making use of electronic payments, electronic marketing, and
the design/utilization of business software's that are consistent with Nigerian
socioeconomic and demographic experiences</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
Education if well embraced will overhaul Nigerian trading practices and make
the goods and services traded to be competitive and to penetrate the west
African markets as well as the global market at large</span></div>
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<div style="direction: ltr; language: en-US; line-height: 90%; margin-bottom: 0pt; margin-left: 0in; margin-top: 10.0pt; mso-line-break-override: none; punctuation-wrap: hanging; text-align: center; text-indent: 0in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "calibri"; font-weight: bold;">Healthcare
and Biotechnology Industry</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Health
</span><span style="font-family: "calibri";">has
been defined as a complete state of physical, spiritual, emotional and social
wellbeing and not just merely the absence of infirmity (WHO</span><span style="font-family: "calibri";">)</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">A
healthy population </span><span style="font-family: "calibri";">can
create </span><span style="font-family: "calibri";">wealth,
an </span><span style="font-family: "calibri";">unhealthy
</span><span style="font-family: "calibri";">population
</span><span style="font-family: "calibri";">cannot
deliver a healthy economy. </span><span style="font-family: "calibri";">Through STEM Education</span><span style="font-family: "calibri";"> </span><span style="font-family: "calibri";">scientific
</span><span style="font-family: "calibri";">achievements
</span><span style="font-family: "calibri";">would
</span><span style="font-family: "calibri";">led
to longer, healthier, better </span><span style="font-family: "calibri";">lives</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">And </span><span style="font-family: "calibri";">a
healthier society means a more productive </span><span style="font-family: "calibri";">society that can harness resources and
diversify the economic base </span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">STEM
is central to biotechnology, molecular and robotic engineering which are
importance in improving access to health care, provision of food and medicine
necessary for human survival </span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">Challenges to STEM Education in Nigeria</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Inadequate
Funding</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Inadequacy
of instructional materials</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Teaching
methodology</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Lopsided
curriculum</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Inadequate
STEM tutors</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Poor
remuneration </span><span style="font-family: "calibri";">and
improved work conditions of </span><span style="font-family: "calibri";">STEM tutors</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Poor
Infrastructures</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">Conclusion </span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Economic
Diversification </span><span style="font-family: "calibri";">is
the widening of the economy to create opportunities for diverse </span><span style="font-family: "calibri";">activities
</span><span style="font-family: "calibri";">to
create a broad based </span><span style="font-family: "calibri";">economy</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">It </span><span style="font-family: "calibri";">provides
job for wide spectrum of people and stabilizes the economy against economic
fluctuations of commodities, and sustains the developmental prospects of </span><span style="font-family: "calibri";">nations</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";"> </span><span style="font-family: "calibri";">Nigeria
needs to use </span><span style="font-family: "calibri";">STEM
education as a conduit pipe to diversify the economy </span><span style="font-family: "calibri";">to
create job opportunities and satisfy the basic needs of her large population
and sustain the quest for </span><span style="font-family: "calibri";">development </span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Economic
Diversification revolves </span><span style="font-family: "calibri";">around
</span><span style="font-family: "calibri";">STEM
Education </span><span style="font-family: "calibri";">and </span><span style="font-family: "calibri";">it should be exploited in Nigeria </span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Science
</span><span style="font-family: "calibri";">and
technology is </span><span style="font-family: "calibri";">universal.
</span><span style="font-family: "calibri";">It is
in every </span><span style="font-family: "calibri";">sector.
</span><span style="font-family: "calibri";">There
is no sector that science and technology does not </span><span style="font-family: "calibri";">influence</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Money
can not </span><span style="font-family: "calibri";">buy </span><span style="font-family: "calibri";">technology it has to be acquired through
STEM education and skills</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">The Way Foward</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Improvement
in funding Infrastructures and teaching materials is recommended by the
respective governments</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">There
is </span><span style="font-family: "calibri";">the </span><span style="font-family: "calibri";">need
for the </span><span style="font-family: "calibri";">curricula
</span><span style="font-family: "calibri";">to
address issues that are typical to </span><span style="font-family: "calibri";">integrate STEM education in all aspects
of learning, in </span><span style="font-family: "calibri";">this
way, We can rework education curriculum and re-engineer the structural system
in such a way to give emphasis to </span><span style="font-family: "calibri";">STEM</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Tutors
</span><span style="font-family: "calibri";">should
be carried along in </span><span style="font-family: "calibri";">education
</span><span style="font-family: "calibri";">policy
and be trained </span><span style="font-family: "calibri";">and
well compensated to </span><span style="font-family: "calibri";">be
able to </span><span style="font-family: "calibri";">deliver
STEM effectively</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">The
nation needs to invest its resources through technological development, skill
acquisition and human development, and provision of economic and social
infrastructure for her to be on the path of economic diversification (this can
be achieved through STEM education)</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
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<span style="font-family: "calibri";">References</span></div>
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<span style="font-family: "calibri";"><br /></span></div>
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";"> </span><span style="font-family: "calibri";">Aigbedion</span><span style="font-family: "calibri";">, I.,
& </span><span style="font-family: "calibri";">Iyayi</span><span style="font-family: "calibri";">, S.
E. (2007). Diversifying Nigeria’s Petroleum Industry. International Journal of
Physical Sciences, 2, 263-270.
http://www.academicjournals.org/IJPS </span><span style="font-family: "calibri";"><a href="http://www.academicjournals.org/ijps/pdf/pdf2007/oct/aigbedion%20and%20iyayi.pdf">http://www.academicjournals.org/ijps/pdf/pdf2007/oct/aigbedion%20and%20iyayi.pdf</a></span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Anthony,
I. Chukwudi, E.E. and Wilfred, I.U. (2015) Impact of Non-Oil Sector on Economic
Growth : A Managerial Economic
Perspective, Problems and Perspectives on Management,
Volume 13, Issue 2, 2015</span></div>
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Engineering.
(</span><span style="font-family: "calibri";">n.d.</span><span style="font-family: "calibri";">).
Dictionary.com Unabridged. Retrieved May 20, 2012, from Dictionary.com website:
http://dictionary.reference.com/browse/engineering</span></div>
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">International
</span><span style="font-family: "calibri";">Monetary
Fund (2014). Economic Diversification in the GCC: The Past, the Present, and
the Future</span><span style="font-family: "calibri";">.</span></div>
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Jekwe</span><span style="font-family: "calibri";">,
I.(2015) Assessing the Future of Nigeria’s Economy: Ignored Threats from the
Global Climate Change Debacle. Africa Economic Analysis. </span><span style="font-family: "calibri";"><a href="http://www.afbis.com/analysis/climate_change.htm">http://www.afbis.com/analysis/climate_change.htm</a></span></div>
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Lagos
</span><span style="font-family: "calibri";">Chamber
of Commerce and Industries LCCI (2016) Nigeria: “Looking beyond Oil” Published
by the LCCI</span></div>
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Mathematics.
(</span><span style="font-family: "calibri";">n.d.</span><span style="font-family: "calibri";">).
Collins English Dictionary - Complete & Unabridged 10th Edition. Retrieved
May 20, 2012, from Dictionary.com website: http://dictionary.
reference.com/browse/mathematics.</span></div>
<div style="direction: ltr; line-height: 90%; margin-bottom: 0pt; margin-left: 0.25in; margin-top: 10pt; text-indent: -0.25in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Ogbu</span><span style="font-family: "calibri";">, O.
(2012) Toward Inclusive Growth in Nigeria. </span><span style="font-family: "calibri"; font-style: italic;">The Brookings Institution’s Global
Economy and Development Policy Paper</span><span style="font-family: "calibri";">. No. 2012-03, June, pp. </span><span style="font-family: "calibri";">1-7</span><span style="font-family: "calibri";"><br />
</span><span style="font-family: "calibri";">Olamade</span><span style="font-family: "calibri";">, O.
O.; </span><span style="font-family: "calibri";">Oyebisi</span><span style="font-family: "calibri";">, T.
O. and </span><span style="font-family: "calibri";">Olabode</span><span style="font-family: "calibri";">, S.
O. (2014) “Strategic ICT-Use Intensity of Manufacturing Companies in
Nigeria”. </span><span style="font-family: "calibri"; font-style: italic;">Journal of Asian Business Strategy</span><span style="font-family: "calibri";">.
Vol. 4, no. 1, pp. 1-17</span><span style="font-family: "calibri";">.</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Ojefia,
I.A (2016) Economic Diversification: Linking Vision to Action, Nigeria world, </span><span style="font-family: "calibri";">2016</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Sanusi</span><span style="font-family: "calibri";">, L.
S. (2010). Growth Prospects for the Nigerian Economy. Convocation Lecture
Delivered at the </span><span style="font-family: "calibri";">Igbinedion</span><span style="font-family: "calibri";">
University Eighth Convocation Ceremony, Okada.
http://www.cenbank.org/out/speeches/2010/gov_convocation_lecture-igbinedion-university-okada_2010.pdf
</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Science.
(</span><span style="font-family: "calibri";">n.d.</span><span style="font-family: "calibri";">).
Collins English Dictionary - Complete & Unabridged 10th Edition. Retrieved
May 20, 2012, from Dictionary.com website: http://dictionary. </span><span style="font-family: "calibri";">reference.com/browse/science</span></div>
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<span style="font-family: "arial"; mso-special-format: bullet;">•</span><span style="font-family: "calibri";">Technology.
(</span><span style="font-family: "calibri";">n.d.</span><span style="font-family: "calibri";">).
Dictionary.com Unabridged. Retrieved May 20, 2012, from Dictionary.com website:
http://dictionary.reference.com/browse/technology</span></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
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<span style="font-family: "calibri light"; font-weight: bold;"></span>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com3tag:blogger.com,1999:blog-5080086240945615763.post-6257633489379959382017-09-15T11:58:00.001-07:002017-09-15T12:02:23.437-07:00OVERVIEW OF URBAN TRANSPORTATION PROBLEMS IN NIGERIA<span style="color: #222222; font-family: "times new roman" , sans-serif;"><span style="font-size: 15.9697px;"><b>OVERVIEW OF URBAN TRANSPORTATION PROBLEMS IN NIGERIA</b></span></span><br />
<span style="color: black; font-family: "georgia" , sans-serif;"><span style="font-size: 11.4982pt;"><br /></span></span>
<span style="color: black; font-family: "georgia" , sans-serif;"><span style="font-size: 11.4982pt;">Professor </span></span><span style="color: black; font-family: "georgia" , sans-serif;"><span style="font-size: 11.4982pt;">Mustapha Muktar, PhD </span></span><br />
<span style="color: black; font-family: "georgia" , sans-serif;"><span style="font-size: 11.4982pt;">Department of Economics </span></span><br />
<span style="color: black; font-family: "georgia" , sans-serif;"><span style="font-size: 11.4982pt;">Bayero University, Kano-Nigeria </span></span><br />
<span style="color: black; font-family: "georgia" , sans-serif;"><span style="font-size: 11.4982pt;"> </span></span><span style="color: blue; font-family: "georgia" , sans-serif;"><span style="font-size: 11.4982pt;">muktaronline@gmail.com </span></span><br />
<span style="color: #222222; font-family: "times new roman" , sans-serif;"><b><span style="font-size: 11.9773pt;"><br /></span></b></span>
<br />
<div style="margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<b><span style="color: #222222;">Introduction <o:p></o:p></span></b></div>
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<br /></div>
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<span style="color: #222222;">One of the key factors that play a pivotal role in a
region’s economic growth is the presence of a reliable and efficient
transportation system, this is mainly due to the fact that a well
developed transportation system provides adequate access to the region
which in turn is a necessary condition for the efficient operation of
manufacturing, retail, labor and housing markets. Transportation is a
critical factor in the economic growth and development. It is a
wealth creating industry on its own inadequate transportation limits a
nation’s ability to utilize its natural resources, distributes foods and
other finished goods; integrate the manufacturing and agriculture sectors
and supply education, medical and other infrastructural facilities. There is
the need therefore to maintain and improve the existing transportation and
build new infrastructures for a national wealth. Transportation
infrastructure is critical to sustain economic growth because people want
to improve their standard of living and they see increased income as the way
to achieve that goal, transportation system enhancement are in turns a means
of maintaining or improving economic opportunities, quality of life and
ultimately income for people in a particular region. Transportation also
contributes to the economy by providing millions of jobs. It allows men
and women to earn their living by manufacturing vehicles and by
driving, maintaining, and regulating them to allow for the safe and
efficient movement of goods and people. <o:p></o:p></span></div>
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<br /></div>
<div style="margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<b>Urban Transportation Problems </b>Urban transport problems remain one of the most nagging
problems in urban transportation today. All over the world, attempts have
been made to tackle the problems, yet the situation seems to get worse.
Cities are centres of economic, social, cultural and intellectual activities.<span style="font-size: 13.5pt;"><o:p></o:p></span></div>
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These activities result in the drift of the population from rural to urban centres and these congregations have caused cities to expand without control in many areas, causing congestion, environmental and social problems. Various approaches have been taken to combat urban transport problems. In ancient Rome for example, Julius Caesar once prohibited the movement of cars during day light to relieve traffic congestion on roads. Among the most notable urban transport problems are traffic congestion and parking difficulties; longer commuting; public transport inadequacy; difficulties for non-motorized transport, less of public space, environmental impacts and energy consumption, accident and safety, land consumption and freight distribution. Also many dimensions of the urban transport problem are linked with the dominance of the automobile. Transportation problems are related to urban land use. Indeed, transportation is regarded as the heart of urban land-use function. The intimate relationship between transportation and land-use is acknowledged by the fact that at the heart of every city’s master plan is a long-run transportation network. The distribution of land uses within a city varies greatly and determines the transportation requirements. But in general, cities consume about 3 percent of the total landmass at the global level. Although, variation exists on the distribution of land uses depending on the city, residential land-use is the most common occupying between 65 – 75 percent of the surface of a city. Commercial and industrial land uses occupy 5 – 15 percent and 15 – 25 percent of the surface respectively. Since each type of land-use has its own specific mobility requirements, transportation is a factor of activity location and is therefore associated intimately with land use. Transportation and land-use interactions mostly consider the retroactive relationships between activities which are, land use-related and accessibility which is transportation related. These relationships have often been described as a classic „chicken-and-egg‟ problem since it is difficult to identify the triggering cause of change; do transportation changes precede land-use changes or vice-versa?</div>
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Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-10351097448000571092017-08-12T10:14:00.000-07:002018-12-04T21:55:18.204-08:00BASIC GUIDELINES FOR WRITING RESEARCH PROJECT AT UNDERGRADUATE LEVEL<div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;">
<div align="center" class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: center;">
<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Basic Guidelines for Writing
Research Project</span></b><span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; mso-bidi-font-family: Georgia;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none;">
<span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; mso-bidi-font-family: Georgia;"><o:p> </o:p></span></div>
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<span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; mso-bidi-font-family: Georgia;"> Professor<span style="mso-spacerun: yes;"> </span>Mustapha
Muktar<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none;">
<span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; mso-bidi-font-family: Georgia;">Department
of Economics<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none;">
<span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; mso-bidi-font-family: Georgia;"> Bayero
University, Kano-Nigeria<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none;">
<span style="color: blue; font-family: "Georgia","serif"; font-size: 12pt; mso-bidi-font-family: Georgia;">muktaronline@gmail.com<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; mso-bidi-font-family: Georgia;"> http//:www.mustaphamuktar.blogspot.com</span><b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Introduction<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">The followings are some
basic guidelines that can be followed in writing an </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">a</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"> research project, while they are not exhaustive
it is believed that they form the basic requirements and can guide students for
the smooth conduct of their researches.</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"> </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Basically
the research should contain either four or five chapters, the contents of each
chapter are presented below</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">,
however at postgraduate level five chapters are recommended<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><o:p> </o:p></span></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Chapter One: General Introductiom<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo5; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Introduction/Background to the Study<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo5; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Statement of the Research Problem<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo5; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Aim and Objectives of the Research<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo5; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Justification/Significance of the Research</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">(at proposal justification is included while
significance is included at the main work)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo5; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Hypotheses or<span style="mso-spacerun: yes;">
</span>Research Questions(or both)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo5; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Scope and Limitations<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Methodology<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l0 level1 lfo5; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Outline of Chapters/Plan of the Study<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><o:p> </o:p></span></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Chapter Two: Literature review and Theoretical
Framework<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin: 0in 0in 0pt 0.5in; mso-add-space: auto; mso-layout-grid-align: none; mso-list: l2 level1 lfo6; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Review of Conceptual Literature<b><o:p></o:p></b></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Review of Empirical Literature<b><o:p></o:p></b></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Theoretical Framework<b><o:p></o:p></b></span></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></b></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Chapter Three: Methodology<o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Research Design</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Sources and types of data used<b><o:p></o:p></b></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Methods of data Collection<b><o:p></o:p></b></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Sample and Sampling techniques (where applicable)<b><o:p></o:p></b></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Model Specification(where applicable)<b><o:p></o:p></b></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Techniques of data Analysis<b><o:p></o:p></b></span></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></b></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Chapter Four: Data Presentation and Analysis<o:p></o:p></span></b></div>
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</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Background of the study area/case study (where
applicable)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Presentation of data <o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Data Analysis<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Discussion and Policy Implications of the result<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Test of Hypotheses</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"> and or answers to the earlier research questions formulated</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></b></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Chapter Five: Summary, Conclusion and
Recommendations<o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Summary of Findings<o:p></o:p></span></div>
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</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Conclusion<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Policy Recommendations<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">References/Bibliography<o:p></o:p></span></div>
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<!--[if !supportLists]--><span lang="HA" style="font-family: Symbol; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Appendices<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;">Where a researcher
intends to have four chapters, then methodology is fully presented in chapter
one and data analysis become chapter three while concluding remarks is
presented in chapter four.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">Choice of a Topic<o:p></o:p></span></b></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">A topic is normally choosed by</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"> brainstorming </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">and
reveiwing literatures</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">, collecting information, taking a lot of notes,
and asking a lot of questions</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"> to identify a gap that should be filled. Once a topic is coined then every
aspect of the research ha</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">s</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"> to be alligned to it for consistency. Literatures are reviewed in order to
get an insight on the topic, to ascertain the current trends and to justify the
choice of methodology and other </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">important issues.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Depending on the nature of the topic and at the
same time the objectives of the researcher as well as the problem at hand,
usually quantitative based researches are associated with hypotheses, while
qualitative based researches in most cases seek to ask research questions
(however, this may not<span style="mso-spacerun: yes;"> </span>always be </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">necessary</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">). The important thing here is
to allign the hypotheses/ research questions with their respective objectives
on a one-to-one basis.</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt;">
<o:p><span style="font-family: Calibri;"> </span></o:p></div>
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<span style="font-family: "Georgia","serif"; font-size: 13pt;">Conceptual
literatures are reviewed in order to have a good understanding of key concepts
and terms related to the research, empirical literature is based on empirical
studies done in the past that are related closely to the chosen topic either
internationally, regionally and locally such that a gap is identified and that
gives room for a value addition at the end of the research. The theoretical
review is based on review of theories related to the research topic which
should lead to a choice of theoretical framework that can be adopted to explain
the research or to give it a theoretical base.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 13pt;"><o:p> </o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 13pt;">Methodology
is aimed at presenting a method of gathering data for the purpose of achieving
the objective of a research; it consists of modeling in some cases and the
presentation of tools of analysis that will lead to solid findings at the end
of the research. Tools of data collection are also presented and discussed under
the methodology.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">The Section on data presentation and analysis
should contain the findings of the research, as well as the test of hypotheses,
the findings are expected to provide answers to the research questions earlier
stated in chapter one. </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">The </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">last chapter should </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">summarize</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"> major findings; </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">conclusion should </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">be</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"> </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">based on </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">the </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">findings of the work so also recommendations.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Important Tips</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"> to Researchers<o:p></o:p></span></b></div>
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<span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">Organize your </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">research</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"> - Develop an outline to help you stay on track as you write</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"> (it should contain time frame and activity for
each period and if possible the strategy intended to achieve it)<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"><o:p> </o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">Become familiar with the vocabulary of your </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">choosen area of research</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">. For example, </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">time series
econometrics use terms such as random walk, white noise, and cointegration. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><o:p> </o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">Facts </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">should be</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"> logically and inevitably </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">presented so as to lead to a good</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;"> conclusion and/or
the solution presented. </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Always </span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">Proof</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">-</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">read</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"> before presenting chapters to your supervisors (you can also </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">correct and </span><span style="font-family: "Georgia","serif"; font-size: 13pt;"><span style="mso-spacerun: yes;"> </span>perfect your writing</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">
through</span><span style="font-family: "Georgia","serif"; font-size: 13pt;">
checking grammar, correcting grammar, spelling, word choice and style mistakes
with unmatched accuracy</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">). This can be done via the use of computer
softwares like <i style="mso-bidi-font-style: normal;">Grammarly, White smoke,
ghotit</i> and other grammer checking softwares that can be found <b style="mso-bidi-font-weight: normal;">free </b>online.</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt;"> </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Aknowledge all sources consulted.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-family: Arial;">(For proposal, candidates are to
present chapters 1 to 3 as sections 1 to 3 only)<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 10pt; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Candidates can mine literatures and data as well as
its management through the following useful sites:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="line-height: normal; margin: 0in 0in 0pt 0.75in; mso-add-space: auto; mso-list: l3 level1 lfo1; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">a.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">Search Robots such as; </span><a href="http://www.lycos.com/"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><span style="color: blue;">www.lycos.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">, </span><a href="http://www.altavista.com/"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><span style="color: blue;">www.altavista.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">, </span><a href="http://www.google.com/"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><span style="color: blue;">www.google.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">, </span><a href="http://www.googlescholar.com/"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><span style="color: blue;">www.googlescholar.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;">, </span><a href="http://www.exite.com/"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Arial;"><span style="color: blue;">www.exite.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;"><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.75in; mso-add-space: auto; mso-list: l3 level1 lfo1; text-align: justify; text-indent: -0.25in;">
<!--[if !supportLists]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">b.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">Metasearch Tools like; </span><a href="http://www.metacrawler.com/"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;"><span style="color: blue;">www.metacrawler.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">, and </span><a href="http://www.metaresults.copemic.com/"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;"><span style="color: blue;">www.metaresults.copemic.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;"><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="line-height: normal; margin: 0in 0in 0pt 0.5in; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">c. Search Data Banks like; </span><a href="http://www.acu.ac.uk/cudos"><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;"><span style="color: blue;">www.acu.ac.uk/cudos</span></span></a><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;">(Commonwealth Universities
Database Online Service)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">, </span><a href="http://www.aau.org/datad/"><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;"><span style="color: blue;">www.aau.org/datad/</span></span></a><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;">(Database of African Theses and Dissertations)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">, </span><a href="http://www.theses.org/"><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;"><span style="color: blue;">www.theses.org</span></span></a><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;">OR </span><a href="http://www.ndltd.org/"><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;"><span style="color: blue;">www.ndltd.org</span></span></a><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: EN-GB;"> (networked Digital Library of Theses and Dissertations)<b><o:p></o:p></b></span></div>
<div class="MsoListParagraphCxSpLast" style="line-height: normal; margin: 0in 0in 10pt 0.25in; mso-add-space: auto; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">d.<span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">Open Archives</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;"> such as;</span><a href="http://arxiv.org/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">http://arxiv.org</span></span></a><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 10pt 0.5in; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">e.</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">Specialized Search Robots</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">such as;</span><a href="http://www.ojose.com/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.ojose.com</span></span></a><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"> (Online J</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-weight: bold;">o</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;">urnal Search Engine)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-weight: bold;">, </span><a href="http://www.scirus.com/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.scirus.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-weight: bold;">,
</span><a href="http://www.phibot.org/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.phibot.org</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-weight: bold;"> and </span><a href="http://www.sciseek.com/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.sciseek.com</span></span></a><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 10pt 0.5in; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">f.</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">Directories of<span style="mso-spacerun: yes;">
</span>Online Journals and Books</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">such as</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">:</span><a href="http://www.doaj.org/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.doaj.org</span></span></a><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;">(Directory of Open Access Journals) </span><a href="http://www.ingentaconnect.com/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.ingentaconnect.com</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-weight: bold;">, </span><a href="http://www.academicpress.com/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.academicpress.com</span></span></a><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"> (electronic bookstore)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-weight: bold;">, </span><a href="http://www.amazon.com/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.amazon.com</span></span></a><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"> (electronic bookstore)<o:p></o:p></span></div>
<div class="MsoListParagraph" style="line-height: normal; margin: 0in 0in 10pt 33pt; mso-add-space: auto; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">g.</span><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">Electronic
Libraries (digital archives)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;"> such as:</span><a href="http://www.ibiblio.org/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.ibiblio.org</span></span></a><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="mso-spacerun: yes;"> </span>(rich in
Humanities / Social Sciences)<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 10pt 0.5in; text-align: justify; text-indent: 0.75pt;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">h.Other Sources such as: </span><a href="http://www.sist-sciencesdev.net/"><span style="font-family: "Georgia","serif"; font-size: 13pt; mso-bidi-font-weight: bold;"><span style="color: blue;">www.sist-sciencesdev.net</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;">, </span><a href="http://www.soros.org/openaccess/software"><span style="font-family: "Georgia","serif"; font-size: 13pt;"><span style="color: blue;">www.soros.org/openaccess/software</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;"> and </span><a href="http://www.eprints.org/"><span style="font-family: "Georgia","serif"; font-size: 13pt;"><span style="color: blue;">www.eprints.org</span></span></a><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; mso-ansi-language: HA;"><o:p></o:p></span></div>
<div class="MsoListParagraph" style="margin: 0in 0in 10pt 0.5in; text-align: justify;">
<i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-ansi-language: HA;">Avoid using “</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-bidi-font-weight: bold;">A wiki</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-ansi-language: HA; mso-bidi-font-weight: bold;">”</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-bidi-font-weight: bold;"> (quickweb</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-ansi-language: HA; mso-bidi-font-weight: bold;">, such as wikipedia</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-bidi-font-weight: bold;">) </span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-ansi-language: HA; mso-bidi-font-weight: bold;"><span style="mso-spacerun: yes;"> </span>because it </span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-bidi-font-weight: bold;">is a user
editable site.<span style="mso-spacerun: yes;"> </span>Content on a wiki can be
modified by a user who has </span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-ansi-language: HA; mso-bidi-font-weight: bold;">little or </span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-bidi-font-weight: bold;">no knowledge of
the </span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-ansi-language: HA; mso-bidi-font-weight: bold;">subject matter</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%; mso-bidi-font-weight: bold;">)</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 13pt; line-height: 115%;"><o:p></o:p></span></i></div>
</div>
Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-36981023925078506582016-09-26T22:56:00.001-07:002016-09-26T22:56:09.214-07:00SOLUTIONS TO THE CURRENT NIGERIAS ECONOMIC RECESSION
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 150%;">SOLUTIONS TO THE CURRENT NIGERIAS ECONOMIC RECESSION</span></b></div>
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<div align="center" style="line-height: 150%; margin: 0in 0in 8pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; line-height: 150%;">By</span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt;">Mustapha
Muktar, Ph.D</span></b></div>
<br />
<div align="center" style="margin: 0in 0in 0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt;">Department
of Economics</span></b></div>
<br />
<div align="center" style="margin: 0in 0in 0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt;">Bayero
University Kano</span></b></div>
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<span style="font-size: 12.0pt; line-height: 150%;">Economic recession are Short run
fluctuations in output, income, employment and prices of goods and services
that countries may found itself. It is mainly a product of poor macroeconomic
policies and mismatch of government policies. The current Nigerian recession
can be attributed to overdependence on oil revenue and its subsequent crash in
the world market which makes it difficult for government to meet its budgetary
obligations. Other factors that contributed to putting the country into
recession include but not limited to inability of the nation to diversify its
economic base and over dependence on imports, high interest rate and
deterioration of exchange rate. </span></div>
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<div style="line-height: 150%; margin: 0in 0in 8pt; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">It is pertinent to know that a
country does not enter into recession overnight so also going out of it will
not be overnight, however to get of the recession I recommend the following short
term and long term <span style="mso-spacerun: yes;"> </span>measures;</span></div>
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<div style="line-height: 150%; margin: 0in 0in 8pt; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">In the short term, the government as
a matter of urgency should</span></div>
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<li style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; font-style: normal; font-weight: normal;"><div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 0pt; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo1; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">Enlarge
its economic management team to include all stake holders and charged them with
the task of brainstorming and coming with solid and workable solutions that are
feasible and sustainable. A broader consultation is needed to tackle the
problem.</span></div>
</li>
<li style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; font-style: normal; font-weight: normal;"><div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 0pt; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo1; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">There
is the need to further reduce the cost of governance by all tears of government
in order to get surplus income to finance the budget. A rider to this is
prioritization of expenditures that are contained in the budget in order to
achieve the most pressing.</span></div>
</li>
<li style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; font-style: normal; font-weight: normal;"><div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 0pt; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo1; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">Government
should revisit its trade policies and give concessions to local manufacturers
especially small scale industries. Products in which government deemed as not
necessary should attract heavy taxes so that revenue can be realized and their
importation discouraged, these products may include, alcoholic drinks,
perfumes, furniture materials and others in which Nigerians can produced
locally. However necessary support and concessions should be given to the local
producers of the substitutes for these products at the same time the relevant
regulatory bodies should ensure strict compliance to standard and quality of
these locally produced goods in order to make them competitive and meet the
demand of consumers.</span></div>
</li>
<li style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; font-style: normal; font-weight: normal;"><div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 0pt; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo1; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">Government
should try to stabilize the exchange rate to stop Naira from further
deteriorating relative to foreign currencies.</span></div>
</li>
<li style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; font-style: normal; font-weight: normal;"><div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 0pt; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo1; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">State
and local government should be charged with the task of coming up with their
immediate and short term measures of improving their conditions not necessarily
depending on the allocation from the federation account which has already been
declining.</span></div>
</li>
<li style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; font-style: normal; font-weight: normal;"><div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 0pt; margin-top: 0in; mso-add-space: auto; mso-list: l1 level1 lfo1; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">An
effective Public Private Partnership (PPP) is needed in order to stimulate the
economy and bring it back to the path of sustainable growth and development,
therefore as a way of raising the required funds, an effective PPP may be an
option.</span></div>
<div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 8pt; margin-top: 0in; mso-add-space: auto; text-align: justify;">
<br /></div>
</li>
</ol>
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<div style="line-height: 150%; margin: 0in 0in 8pt; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">In the long term government should;</span></div>
<br />
<ol style="direction: ltr; list-style-type: lower-roman;">
<li style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; font-style: normal; font-weight: normal;"><div style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; font-style: normal; font-weight: normal; line-height: 150%; margin-bottom: 8pt; margin-top: 0in; mso-add-space: auto; mso-list: l0 level1 lfo2; text-align: justify;">
<span style="font-size: 12.0pt; line-height: 150%;">Diversify
the economic base and empower non-oil sectors like manufacturing, agriculture,
transportation, construction and others. The enabling environment and
concessions that will attract the private sector and business men should be put
in place. This diversification policy should be well conceived, designed,
planned and implemented based on the forecasted domestic and global
macroeconomic indices. </span></div>
</li>
</ol>
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<b></b><i></i><u></u><sub></sub><sup></sup><strike></strike>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com2tag:blogger.com,1999:blog-5080086240945615763.post-77904440339972580652014-09-18T16:13:00.000-07:002014-09-18T16:13:29.024-07:00Introduction to Data Management Using Econometric Views (E-Views) Computer Software for Students of Social and Management SciencesIntroduction to Data Management Using Econometric Views (E-Views) Computer Software for Students of Social and Management Sciences By Mustapha Muktar, PhD Department of Economics Bayero University, Kano-Nigeria mmukhtar.eco@buk.edu.ng and muktaronline@gmail.com http//:www.mustaphamuktar.blogspot.com Introduction There are several software or packages for undertaking rigorous analysis. These include the Statistical Package for Social Sciences (SPSS), PC GIVE, MICROFIT, STATA and E- VIEWS as major and commonly known ones. The focus here is on E-Views. E- Views provide sophisticated data management and analysis tools on window based computers. With E- Views one can easily develope a statistical relation from a set of data and then use the relation to forecast future values and perform other functions. E- Views have been found useful in the following areas; 1. Scientific Data Analysis and evaluation 2. Financial analysis 3. Macroeconomic Forecasting 4. Sales Forecasting 5. Cost Analysis 6. Profitability Analysis and etc. E- Views is a new version of set of tools for manipulating a set of data developed especially on time series and cross section basis. E- Views have a convenient visual way to enter data series from the key board or from disk files, to create new series from existing ones, to display and print series, and to carry out statistical analysis of the relationship among series. This is made possible as it uses the visual features of Morden windows software. One can therefore use the mouse to guide the operation with standard windows, menus and dialogs. Results appear on windows and can be manipulated with standard windows techniques. Alternatively, one may use E- Views command and batch processing language. Commands can be entered and edited in the command window, one can also create and store the commands in programs that documents information for later execution. E- Views Screen Upon starting E- views the main screen will be presented, it consists of the top menu, command window, middle work area and the lower status bar; The Main Menu File: Basic file operations Edit: Basic editing operations Objects: Commands for creating and manipulating E-views objects View: Viewing options Process: Import and exporting data; sample options Quick: Shortcuts to many E- views operations Options: Set program options Window: Switch between windows Help: Online help system Note: further Details about each of the above items can be found in the help/menu items The command window The command window is the empty area with white background immediately below the main menu. This is where E- Views command is entered. The command typed, is executed immediately the enter key is pushed; this window supports cut and paste which enables the movement of text between the command window. The work area This is the area in the middle of the window where various objects are displayed. If many windows are open, they will overlap each other with the foremost window being in focus or active. A window can be moved by clicking on its title bar and dragging it to a new location. Status line This is divided into several sections. The left section will sometimes contain status messages sent by E- Views. The next section shows the default directory that E views uses to look for data and programs. The last section displays the name of the default database and work file. Help system Since it is window based software, it is user friendly. But in cases of operational problems or difficulties, the help system is always handy to provide useful assistance. To access the help, simply go to the main menu and select HELP and the help topic will appear from there one can search and digest it. The Work File To start any work in E- Views one must create or load a work file. Work file organize and contain the objects that are used in analysis. To create a new work file, use the FILE/NEW/WORKFILE command. This brings up a dialog box where you describe the type of data you will be working with. It allows you to work with time series data, as well as cross sectional data. Date formats Annual example 1999 – 2009, Quarterly example 2000:1 – 2006:4, Monthly 1990:1 – 1990:12 for weekly the week is identified by the first day of the week example 3:10:98 is March 10, 1998. And for the undated observations the start and end observations are applicable. The work file just opened is empty except for two default objects labelled c and resid these are the constant and error terms usually associated with modelling. One may wish to effect a change in the sample period by double clicking on sample command to change it. Saving Work file The work file remains untitled, it can be given title and saved either by clicking save button on the work file tool bar or by choosing File/save from the main menu as below; Importing Data E- Views can easily import excel data the data is organized in rows and columns. Before importing data a work file must have been created. The procedures for creating work file are; Step 1: Click File/New/Work file Step 2: Choose the right frequency for your data (for example annual or monthly) and impute the start date and end date and click OK Step 3: data can now be imported from an external source by clicking file/import/, and choosing the Read-Text-Lotus-Excel... Option; At this stage, the file from which you want to import data is selected and the open button is clicked as below; Entering data from the keyboard As an alternative to importing data, data can also be entered directly into a work file from the keyboard. To do so, a series object needs to be created and then data is entered using the e-views editor. The following steps are required; Step 1: File/New /Work file Step 2: Choose the start and end date Step 3: Select Objects/New objects from the main menu as below; By clicking the ENTER button the new object dialog box is displayed, then the type of object which one needs has to be selected and a title given as well. The empty series will be added to the work file as below; Step 4: To enter data into the series do the following; Double click on the GDP to open the spread sheet view (NA sequences are seen) Click the (Edit +/-) to activate the edit mode Click on the first data cell Enter the data for that cell and press ENTER. Or copy and paste from another source After entering the data press the (Edit +/-) mode to de-activate edit mode and then click the close box. Data Transformation New data sets or variables can be generated from the set of initial data sets or variables. To do this, choose GENR from the work file main menu and the dialog box open as below; The formula for generating new series/variable can be typed in the enter equation space in the dialog box and click OK for example suppose we generate the grow rate of GDP which we call ggdp, the formula is typed as ggdp = (gdp-gdp(-1)/gdp(-1)*100 and then click OK. If we want generate the logarithm of gdp as LGDP, then we type LGDP = log GDP and press OK. Statistical Computations on E- Views Statistical measures are important in data analysis and drawing conclusions. Measures such as descriptive statistics (mean, median, maximum, standard deviation, skewness and kurtosis etc) are very important in data analysis, so also measures of association such as the correlation and regression analysis are crucial in in-depth studies and monitoring/evaluation as well as impact studies. Procedure for Carrying out Statistical Analysis on E-Views The approach for doing this is very interactive using E-Views. To perform statistical analysis such as descriptive statistics (mean median, maximum, standard deviation, skewness etc) on E-Views, one needs to create a work file and enter the data as well. Graphs To represent information on a graph, first one has to generate series, open the QUICK window and select graph then one will be prompted to list the series after listing/selecting it then the OK button is pressed, from there options will be selected of the type of graph as either line scatter, pie chart etc. Descriptive Statistics To compute descriptive statistics, first one has to generate series, open the QUICK window and select SERIES STATISTICS-HISTOGRAM AND STATS then one will be prompted to list the series after listing/selecting it then the OK button is pressed, from there the descriptive statistics will be displayed; After getting the basic descriptive statistics one can obtain a wide range of parameters by clicking on VIEW in the dialog box these include but not limited to bar graph and one-way tabulation and others as below; Correlation Coefficient Correlations are computed between two or more variables to ascertain their co-variability for policy making analysis. To compute the correlation between say GDP and FDI. Go to QUICK –GROUP STATISTICS-CORRELATIONS, then a dialog box will be opened where one will be prompted to list series, groups and/or series expressions: from there the variables that are to be correlated are listed separated by space, and OK is pressed as below; It should be noted that by clicking on VIEW a combined range of measures like N-Way tabulation descriptive statistics, Chi square, Pearson coefficient and so on can be ascertained Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com3tag:blogger.com,1999:blog-5080086240945615763.post-76342501639015011632014-09-05T14:41:00.001-07:002014-09-05T14:41:40.999-07:00INTRODUCTION TO ECONOMIC EVALUATION IN HEALTH CAREINTRODUCTION TO ECONOMIC EVALUATION
IN HEALTH CARE
By
Mustapha Muktar, PhD
Department of Economics
Bayero University, Kano-Nigeria
mmukhtar.eco@buk.edu.ng
http//:www.mustaphamuktar.blogspot.com
Introduction
Economic evaluation applies analytic methods to identify, measure, value, and compare the costs and outcomes of alternative interventions. Economic evaluation is a way of using the scientific approach to determine the costs and benefits of public health activities. It can also be viewed as the quantitative analysis of the relative desirability to the whole community of investing in alternative projects or programmes. It is not simple to decide on which alternatives to choose, but with evaluation decision makers can make the difficult choices when resources are limited. Economic evaluation allows us to compare the costs and outcomes of different alternatives. You can then compare programs and give recommendations on the most efficient way to use scarce resources.
Process of Economic Evaluation
The overall economic evaluation process is to:
identify all of the relevant costs and outcomes involved in a program
find ways to measure the appropriate outcomes and costs and assign values to them and
compare the cost per unit outcome or, in the case of cost-benefit analysis,
compare the net benefits between programs.
Economic evaluation therefore answers the following questions;
how much does it cost to achieve a certain level of program performance?
how can a fixed budget best be allocated across program priorities?
what are the costs and benefits of choosing one program instead of another?
Why use economic evaluation methods
In most cases, something can be done in more than one way. For example, there may be more than one way to screen for a disease or different alternative ways to deliver a program or service. Also, you may have few resources, but many things that you need to do:
every choice you make has an associated opportunity cost.
Trade-offs must be made (for everything you choose to do, something else will not get done).
To achieve a particular health objective, you may need to:
find the most effective and efficient way to deliver a program or service
spend the least possible amount to achieve the objective
Justification of Economic Evaluation
As early as the seventeenth century, the British physician Richard Petty advocated greater social investment in medicine. This was based on his belief that the value of a saved human life far exceeded the cost. Health care resources are limited by the total funds available, as well as through competition with other areas, such as housing and education. This raises the question of how to decide where the money should be allocated most appropriately. The establishment of a benchmark for an efficient level of health care provision is still to be found, and it must always be questioned whether the allocation of health care resources is efficient and equitable. It has been proposed that, faced with increased demands, but little increase in resources, the National Health Service has several options which include but not limited to; to become more efficient so that more individuals can be treated with the same resources; to extend means testing so that some people may be excluded from certain services due to their wealth; to increase ‘rationing’ or to provide a smaller range of services. However, there is no doubt that resources are scarce and choices have to be made regarding their use. The aim is to maximize health from available resources whilst paying due concern to issues of equity. Economic evaluation is important because without systematic analysis, it is not possible to identify the relevant alternatives. In addition, the assumed viewpoint is important. A programme that looks attractive from a patient's viewpoint may look decidedly unattractive from the government's budget.
Advantages of Economic Evaluation
It Compels the collection and analysis of information about programs and interventions
helps you to organize data
helps you to understand that resources are limited and that there are opportunity costs associated with making public health decisions: often, you must give up one thing to get another
Makes it possible to demonstrate to policymakers and funders the value of resources used
Limitations of Economic Evaluation
It Requires the assigning of values to variables that may be difficult to measure (for example, quantifying pain and suffering)
It analyzes a limited number of factors
It takes time and skill to do properly
Common Methods of Economic Evaluation in Public Health
Economic evaluations within public health consist of partial economic evaluations and full economic evaluations.
Partial economic evaluations assess either the cost or the health outcome components of public health programs, or they assess both costs and health outcomes of a single program without reference to an alternative program. Examples: cost description, outcome description, efficacy or effectiveness evaluation, cost-outcome description, and cost analysis.
Full economic evaluations assess both costs and health outcomes; they also compare these across different health interventions or compare a health intervention with a no-health intervention. Examples: cost-effectiveness analysis, cost-utility analysis, and cost-benefit analysis.
The choice of evaluation method is dictated by evaluation objectives, policy priorities, and data availability. The methods that constitute the category of full economic evaluations are the most comprehensive of all methods, with the partial economic evaluations serving as components of the full evaluations. In most studies, the economic evaluations draw on a variety of data types and sources, using program cost and outcome data.
The basic task of evaluation efforts are therefore; to identify, to measure, to value, and to compare the costs and consequences of the alternatives being considered.
Overview of Cost Analysis
Economists define a cost as the value of resources used to produce a good or services. However, the way these resources are measured can differ. There are two main alternatives with respect to measurement of these resources: financial and economic costing.
Financial cost represents actual expenditure on goods and services purchased. Costs are thus described in terms of how much money has been paid for the resources used in the project or services. In order to ascertain the financial costs of a project, we need to know the price and quantity of all the resources used or, alternatively, the level of expenditure on these goods and services.
Economists define costs in terms of the alternative uses that have been forgone by using resources in a particular way. These economic or opportunity costs recognize the cost of using resources as these resources are then unavailable for productive use elsewhere. The basic idea is that things have a value that might not be fully captured in their prices. It is not difficult in many health programmes to identify resources inputs for which little or no money is paid: volunteers working without payment; health messages broadcasts without charge; vaccines or other suppliers donated or provided at large discount by organizations or individuals. Thus, the values of these resources to society, regardless of who pays for them, are measured by opportunity cost. Economic cost then include the estimated value of goods or services for which there were no financial transaction or when the price of a specific good did not reflect the cost of using it productivity elsewhere. The main ways that financial and economic costs differ is in the way they treat donated goods and services and other inputs.
Costs can also be assessed based on costs borne by the ministry of health (like drug and equipment), by patients and their relatives (like transport and food) and by the rest of society (like health education), in monetary terms; direct costs, like wages, indirect costs (like time spent in hospital) . Costs could also be further subdivided in to average, marginal and joint costs, which help decisions on how much of a service, should be provided.There are also capital costs (investment in plant, buildings, and machinery).
Costs to be Included in Evaluation
If the evaluation is being made from the widest perspective the viewpoint of society as a whole then three main categories of costs must be considered: Health Service Costs, these will include staff time, medical supplies (including drugs), bed and food services in the case of inpatients, use of capital equipment, and overheads such as water, heating and lighting. These items may be divided into variable costs, which vary according to the level of activity (for example, staff time) and fixed costs, which are, incurred whatever the level of activity (for example, heating and lighting). In the long run, practically all costs become variable since those that are fixed in the short run may be varied-for example, by opening and closing wards, and by building new hospitals. In economic evaluation all such health service costs-both fixed and variable-are referred to as direct costs. Costs Borne By Patients and Their Families; These will include out of pocket expenses such as travel, and any cost resulting from caring activities undertaken by the family. These are also direct cost items. In addition, there may also be indirect costs (productivity costs) such as income lost because of absence from work (which is a production loss to society) and any psychological stress experienced by patients, or their families or both.
External Costs: These occur when people not directly involved in a programme experience increased costs because of it. For example, public health legislation enforcing antipollution standards or specifying water purification levels may lead to increase in manufacturing costs and consumer prices (as well as providing health benefits).
Valuation of Costs
The costs identified in physical units (such as hours of staff time, hours of operating theatre use, quantities of drugs and so on) must be valued in monetary terms. For most direct cost items market prices will be available. Consultation time can therefore be valued at the appropriate hourly rate; Medical and surgical supplies can be valued at the prices charged by suppliers; Indirect costs, for which there are no market prices, pose a more difficult problem of evaluation. Some method has to be used to impute values to them. This is known as “shadow pricing”, and time costs provide a good example. When time is spent in hospital by a patient, or on caring by a relative, and this displaces work time, it is usual practice to use the relevant wage to value the
lost time.
Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com2tag:blogger.com,1999:blog-5080086240945615763.post-14957442807111778832013-09-05T12:33:00.002-07:002013-09-05T12:35:01.773-07:00INVESTMENT OPPORTUNITIES IN THE PHARMACEUTICAL SECTOR IN NORTHERN NIGERIAINVESTMENT OPPORTUNITIES IN THE PHARMACEUTICAL <br />
SECTOR IN NORTHERN NIGERIA<br />
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<b><span lang="HA" style="font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<span lang="HA" style="font-family: "Georgia","serif"; mso-ansi-language: HA;">By</span><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 16pt; line-height: 115%; mso-ansi-language: HA;">Mustapha Muktar, P.hD</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Georgia","serif"; font-size: 16pt; line-height: 115%;"><o:p></o:p></span></b></div>
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<span lang="HA" style="color: red; font-family: "Georgia","serif"; font-size: 14pt; mso-ansi-language: HA;">mmuktar75@yahoo.com</span><span style="color: red; font-family: "Georgia","serif"; font-size: 14pt;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; mso-ansi-language: HA;">Department
of Economics</span><span style="font-family: "Georgia","serif"; font-size: 14pt;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; mso-ansi-language: HA;">Bayero
University Kano<o:p></o:p></span></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Introduction</span></b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">The
pharmaceutical industry develops, produces, and</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">markets</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> drugs or pharmaceuticals liscensed for use as
medications</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Pharmaceutical companies deal in medications and medical
devices</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">They are subject to vareity of laws and regulations
regarding the production, patenting, testing, safety, efficacy and marketing of
drugs. </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Pharmaceuticals are crictical for the health and well
being of populations</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Importance of pharmaceutical Industry<o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">It contributes significantly to any nation’s economy</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">It helps in ensuring the health of citizens</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">It helps in wealth creation</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">It helps in poverty reduction</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">It helps in employment creation </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">It helps in improving the general well being of the
populace and hence an improvement in the societal welfare</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Overview of the Nigerian Pharmaceutical
Industry<o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">The
pharmaceutical industry in Nigeria is fairly well developed in comparison to</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">most of the other developing countries in
Sub-Saharan Africa</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">There
are </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">over </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">200 local manufacturers</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">, some</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> were affiliated with multinational
companies</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Some of the </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">companies repackage medicines
and/or produce</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">pharmaceutical products from
imported raw materials</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">T</span><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: EN-GB;">he
existing large market size, strong demand and the need for management of
infectious diseases, especially HIV/AIDS, malaria, TB, and neglected childhood
diseases constitute enormous opportunity for pharmaceutical firms to produce
drugs to meet the health needs of Nigerians.</span><span lang="EN-GB" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Investment Opportunities in Northern
Nigeria: The Case of Kano State<o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Kano
State is the commercial and investment</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">hub of
Northern Nigeria and the third largest</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">non-
oil and gas economy in Nigeria with an</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">estimated
Gross State Product of </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">$</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">15-</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">19 billion.</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Its
economy is driven largely by</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">commerce,
manufacturing and subsistence</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">agricultur</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">e </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">- which is the dominant activity</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Its
huge population of approximately 12</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">million
</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">people
would provide enormous</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">market
opportunities and serve as a</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">potential
reservoir of skills</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Investment opportunities in Kano State
(Economic factors)<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l8 level1 lfo5; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Large </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">population of approximately 12</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">million people would provide enormous</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">market opportunities </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">for pharmaceutical products</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l8 level1 lfo5; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">potential
reservoir of skills; In terms of</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">population
Kano State is 7% of Nigeria,</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">13% of
Northern Nigeria and is even bigger</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> than </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Switzerland,
Singapore and United Arab</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Emirates</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">( Kano<span style="mso-spacerun: yes;"> </span>Sate
investors hand book, 2013)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l8 level1 lfo5; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Gross
State Product of $15-</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">19
billion.</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l8 level1 lfo5; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">T</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">hird largest commercial centre</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> in Nigeria</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l8 level1 lfo5; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">A pharmaceutical market valued at $ 66 Million (BMI,
2013) </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Other
factors ( Financial institutions, airport, railway links, road networks,
industrial estates etc)<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Investment opportunities in Kano State
(Medical factors)<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l7 level1 lfo6; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">The
growth of the pandemics and</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">increasing
</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">n</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">umber of people on</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">treatment</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l7 level1 lfo6; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">An
improving health insurance</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">and
coverage </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">environment,
and a</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">consequent increase in the</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">number of people with access to</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">healthcare</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l7 level1 lfo6; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">An
ageing population leading to</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">increased
</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">prevalence
of old</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> age </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">disorders</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l7 level1 lfo6; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">An
increase in lifestyle diseases</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">associated
with growing</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">economic prosperity and</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">urbanization</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l7 level1 lfo6; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Health care reforms, by the state government and
intervention by NGO’s and etc</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 18pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Kano State
Incentives for Investment<o:p></o:p></span></b></div>
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<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Availability
of land on concessionary basis</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">for the
construction of both factories and</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">staff
quarters to any investor wishing to</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">invest
in the rural areas</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l6 level1 lfo7; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Long
lease on land for industrial</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">development</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l6 level1 lfo7; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Fast-tracking
the issuance of construction</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">permits
and the registration of property by</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">investors</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l6 level1 lfo7; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Establishment
of Kano One-Stop</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Investment
Center KOSIC to facilitate</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">ease of
doing business for the investors</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> and etc</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">
</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 18pt; text-align: justify;">
<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Kano State Incentives for Investment (Free Trade Zone)<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo8; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Access
to a large Nigerian Market</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">estimated
at about 160 million people</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo8; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Nigeria's
membership off Economic</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">Community
of West African States</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">[ECOWAS]
provides access to the West</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">African markets</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo8; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-spacerun: yes;"> </span>Favorable</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">business
environment and strong support<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">by the
Government to provide sector</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">initiative
</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">through
the government economic</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">reform
agenda that is private sector driven</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l0 level1 lfo9; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Tax incentives<span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l0 level1 lfo9; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Customs and Immigration incentives and etc</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Challenges Facing Investment in Pharmaceutical Industry
in Kano State<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo10; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Inadequate infrastructures which lead to high cost of
production</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo10; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Influx of foreign brands into the country</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo10; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Low capacity utilization due to low demand and poverty </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo10; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Influx of counterfeit and fake drugs</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo10; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Undercapitalization/weak financial base</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo10; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Upward swing in exchange rate</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo10; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">High interest rate and comparative cost disadvantage</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Concluding
Remarks<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l9 level1 lfo11; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">There exist untapped investment opportunites in </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-spacerun: yes;"> </span>pharmaceutical industry in </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Northen Nigeria</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">that if well utilized will </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">respond to the health
needs of<span style="mso-spacerun: yes;"> </span></span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Nigerians and </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">will contribute to</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">the overall socioeconomic development of the </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">country and West Africa as well</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l9 level1 lfo11; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Investors need </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">improved infrastructure</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> to enable them produce at low cost<span style="mso-spacerun: yes;"> </span>so as to compete favourably with the foreign
companies (respective governments should make concerted efforts to improve the
infrastructures)</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l9 level1 lfo11; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Kano State government should enhence and<span style="mso-spacerun: yes;"> </span>contenue its </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-spacerun: yes;"> </span>anti-counterfeiting </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">and illegal marketing </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;">measures </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">as it will</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> make the Nigerian manufacturing
companies grow and invest more</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l9 level1 lfo11; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Respective governments should mediate on high interest
rate to enable investors access funds and have strong financial base</span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt 36pt; mso-list: l9 level1 lfo11; tab-stops: list 36.0pt; text-align: justify; text-indent: -18pt;">
<!--[if !supportLists]--><span style="font-family: "Arial","sans-serif"; font-size: 14pt; line-height: 115%; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">•<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><!--[endif]--><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">The Investors and state government should collaborate
with educational institutions to embark on research and development for
effecient and profitable investment in the industry</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"> </span><span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></div>
Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-25922663916145358182013-03-06T13:19:00.001-08:002013-03-06T13:19:31.573-08:00THE ROLE OF ENTREPRENEURSHIP TOWARDS EMPLOYMENT GENERATION AND POVERTY REDUCTION: A THEORETICAL DISCOURSE
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">THE ROLE OF ENTREPRENEURSHIP
TOWARDS EMPLOYMENT GENERATION AND POVERTY REDUCTION: A THEORETICAL DISCOURSE<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="margin: 0cm 0cm 10pt; tab-stops: 54.75pt;">
<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-tab-count: 1;"> </span><o:p></o:p></span></b></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">By<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">Dr. Mustapha Muktar <o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">mustmuk@umyu.edu.ng<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">Department of Economics,<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">Umaru Musa Yar’adua University Katsina<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">A Lecture Presented at First Annual Students’ Entrepreneurship Lecture,<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">Organized by the Students’ Union Government,<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">Umaru Musa yar’adua University, Katsina.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">5<sup>th</sup>March, 2013<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; mso-ansi-language: HA;">INTRODUCTION<o:p></o:p></span></b></div>
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<span style="color: black; font-family: "Georgia","serif";">The concept of
entrepreneurship was first established in the 1700s, and the meaning has evolved
ever since. Many simply equate it with starting one’s own business. </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">However, </span><span style="color: black; font-family: "Georgia","serif";">most
</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">scholars</span><span style="color: black; font-family: "Georgia","serif";"> believe</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">d</span><span style="color: black; font-family: "Georgia","serif";"> it is more than that.</span><span style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="color: black; font-family: "Georgia","serif";">To some, </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">an</span><span style="color: black; font-family: "Georgia","serif";"> entrepreneur is one who is willing to bear the risk of a new
venture if there is a significant chance for profit. Others emphasize the
entrepreneur’s role as an innovator who markets his innovation. Still other</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">s </span><span style="color: black; font-family: "Georgia","serif";">say that
entrepreneurs develop new goods or processes that the market demands and are
not currently being supplied. Entrepreneur can also be viewed as a person that
wants to work</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">s</span><span style="color: black; font-family: "Georgia","serif";"> for himself; it is sometimes synonymous with self employment</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span style="color: black; font-family: "Georgia","serif";">In the 20th century,
economist Joseph Schumpeter (1883-1950) focused on how the entrepreneur’s drive
for innovation and improvement creates change. Schumpeter viewed entrepreneurship
as a force of “creative destruction.” The entrepreneur carries out “new
combinations,” thereby helping render old industries obsolete. Established ways
of doing business are destroyed by the creation of new and better ways to do
them.</span><span style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">Entrepreneurship </span><span lang="HA" style="font-family: "Georgia","serif"; mso-ansi-language: HA;">therefore, </span><span style="font-family: "Georgia","serif";">is more than simply “starting a</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">business.” It is a process through which
individuals</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">identify opportunities,
allocate resources, and create</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">value.
This creation of value is often through the</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">identification
of un</span><span lang="HA" style="font-family: "Georgia","serif"; mso-ansi-language: HA;">satisfied</span><span style="font-family: "Georgia","serif";"> needs or
through the identification</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">of
opportunities for change. It is the act of being an</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">entrepreneur which is seen as "one
who undertakes</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">innovations with
finance and business acumen in an</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">effort
to transform innovations into economic goods</span><span style="font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif";">hence
entrepreneurs see “problems” as “opportunities,”<o:p></o:p></span></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Entrepreneurship therefore by implication is the act of being an
entrepreneur, it involves all the activities and function undertaken by an
entrepreneur</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">.</span><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> </span></b><span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Entrepreneurship is believed to provide an important avenue for
individuals to advance up the income ladder. For some, it may provide a better
route than paid employment, while for others, who may be disadvantaged when
pursuing paid employment; it may provide the only route. <span style="mso-bidi-font-weight: bold;">Entrepreneurs are charged with the
responsibility of innovating new products, better production method, creation
of markets and managing the production process. They are in a nutshell engaged
in wealth creation. Financing therefore is needed by entrepreneurs to enable
them carry out their function effectively.<o:p></o:p></span></span></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">WHY BECOME AN ENTREPRENEUR <o:p></o:p></span></b></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Entrepreneurs are their own bosses they make the
decisions</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">,</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> they
choose whom to do business with and what work they will do. They decide what
hours to work, as well as what to pay and whether to take vacations</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> or not</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Entrepreneurship offers a greater possibility of
achieving significant financial rewards than working for someone else.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">It provides the ability to be involved in the
total operation of the business, from concept to design and creation, from
sales to business operations and customer response.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">It offers the prestige of being the person in
charge.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">5.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">It gives an individual the opportunity to build
equity, which can be kept, sold, or passed on to the next generation.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">6.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Entrepreneurship creates an opportunity for a
person to make a contribution. Most new entrepreneurs help the local economy.
A few</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">through their innovations</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">contribute to society as a whole. <o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">CHARACTERISTICS OF AN ENTREPRENEUR<o:p></o:p></span></b></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Creativity</span></b><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">: this </span><span style="color: black; font-family: "Georgia","serif";">is
the spark that drives the development</span><span class="A21"><span style="font-family: "Georgia","serif";"> </span></span><span style="color: black; font-family: "Georgia","serif";">of new products or services or ways to do
business. It is the push for innovation and improvement. It is continuous
learning, questioning, and thinking outside of prescribed formulas.</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Dedication</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">:</span></b><span lang="HA" style="color: black; font-family: "Georgia","serif";"> </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">this </span><span style="color: black; font-family: "Georgia","serif";">is what motivates the entrepreneur to</span><span class="A21"><span style="font-family: "Georgia","serif";"> </span></span><span style="color: black; font-family: "Georgia","serif";">work hard, 12 hours a day or more, even seven
days a week, especially in the beginning, to get the endeavor off the ground.
Planning and ideas must be joined by hard work to succeed. Dedication makes it
happen.</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span lang="HA" style="mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Determination</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">:</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif";"> </span></b><span style="color: black; font-family: "Georgia","serif";">is the extremely strong
desire to</span><span class="A21"><span style="font-family: "Georgia","serif";"> </span></span><span style="color: black; font-family: "Georgia","serif";">achieve success. It includes
persistence and the ability to bounce back after rough times. It persuades the
entrepreneur to </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">put extra effort</span><span style="color: black; font-family: "Georgia","serif";">. For the true entrepreneur,
money is not the motivation. Success is the motivator; money is the reward. </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span lang="HA" style="mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Flexibility</span></b><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">: </span><span style="color: black; font-family: "Georgia","serif";"><span style="mso-spacerun: yes;"> </span>is the ability to move quickly in response </span><span class="A21"><span style="font-family: "Georgia","serif";">to</span></span><span style="color: black; font-family: "Georgia","serif";"> changing market needs. It is
being true to a dream while also being mindful of market realities. A story is
told about an entrepreneur who started a </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">provision store,</span><span lang="HA" style="color: black; font-family: "Georgia","serif";"> </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="color: black; font-family: "Georgia","serif";">but customers wanted </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">a barbing
saloon</span><span style="color: black; font-family: "Georgia","serif";"> as well.
Rather than risking the loss of these customers, the entrepreneur modified </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">his</span><span style="color: black; font-family: "Georgia","serif";"> vision
to accommodate these needs. </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span lang="HA" style="mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">5.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Leadership</span></b><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">:</span><span style="color: black; font-family: "Georgia","serif";"> is the
ability to create rules and to set </span><span class="A21"><span style="font-family: "Georgia","serif";">goals</span></span><span style="color: black; font-family: "Georgia","serif";">. It is the capacity to
follow through to see that rules are followed and goals are accomplished.</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="Default" style="margin: 1em 0px;">
<span lang="HA" style="mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<div class="Pa11" style="line-height: 150%; margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">6.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Passion</span></b><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">:</span><span style="color: black; font-family: "Georgia","serif";"> is what
gets entrepreneurs started and </span><span class="A21"><span style="font-family: "Georgia","serif";">keeps</span></span><span style="color: black; font-family: "Georgia","serif";"> them there. It gives entrepreneurs the ability to convince others
to believe in their vision. It can’t substitute for planning, but it will help
them to stay focused and to get others to look at their plans.</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="Default" style="margin: 1em 0px;">
<span lang="HA" style="mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<div class="Pa11" style="line-height: 150%; margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">7.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Self-confidence</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">:</span></b><span lang="HA" style="color: black; font-family: "Georgia","serif";"> </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">this </span><span style="color: black; font-family: "Georgia","serif";">comes from thorough planning,</span><span class="A21"><span style="font-family: "Georgia","serif";"> </span></span><span style="color: black; font-family: "Georgia","serif";">which reduces uncertainty and the level of risk.
It also comes from expertise. Self-confidence gives the entrepreneur the
ability to listen without being easily swayed or intimidated.</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="Default" style="margin: 1em 0px;">
<span lang="HA" style="mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<div class="Pa11" style="line-height: 150%; margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo2; text-align: justify; text-indent: -18pt;">
<span style="color: black; font-family: "Georgia","serif"; mso-bidi-font-family: Georgia; mso-fareast-font-family: Georgia;"><span style="mso-list: Ignore;">8.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Georgia","serif";">Smart</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">ness:</span></b><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="color: black; font-family: "Georgia","serif";">consists of common sense joined with </span><span class="A21"><span style="font-family: "Georgia","serif";">knowledge</span></span><span style="color: black; font-family: "Georgia","serif";"> or experience in a related
business or endeavor. The former gives person good instincts, the latter,
expertise. Many people have smarts they don’t recognize. A person who
successfully keeps a household on a budget has organizational and financial
skills. </span><span style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="color: black; font-family: "Georgia","serif";">Education</span><span style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"> </span><span style="color: black; font-family: "Georgia","serif";">and life experiences all
contribute to smart</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;">nes</span><span style="color: black; font-family: "Georgia","serif";">s. <o:p></o:p></span></div>
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<div class="Pa01" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<span lang="HA" style="color: black; font-family: "Georgia","serif"; mso-ansi-language: HA;"><o:p> </o:p></span></div>
<br />
<div class="MsoNoSpacing" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Every entrepreneur has these qualities in different degrees. </span><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">However</span><span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> if a person lacks
one or more</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">, then they</span><span style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> can be learned. Or, someone can be hired who has strengths that
the entrepreneur lacks. The most important strategy is to be aware of
strengths and to build on</span><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> it.<o:p></o:p></span></div>
<br />
<div class="MsoNoSpacing" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
<br />
<div class="MsoNoSpacing" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">ROLES OF
ENTREPRENEURSHIP TO ECONOMIC DEVELOPMENT<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">Employment Generation/Reduction of Unemployment<o:p></o:p></span></b></div>
<br />
<div class="MsoNoSpacing" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Unemployment
refers to a situation</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">where
people who are willing and capable of working</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">are
unable to find employment</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">/jobs to
do</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">.
It is one</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">of the macro-economic problems
which every</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">responsible government is
expected to monitor and</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">regulate.</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> <o:p></o:p></span></div>
<br />
<div class="MsoNoSpacing" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
<br />
<div class="MsoNoSpacing" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">The
process of entrepreneurship activity reducing</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">unemployment
situation in the economy is termed</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">“Schumpeter
effect”. </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">It has been observed that, </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>unemployment is negatively related to new-firm
startups,</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">that is, as new businesses are
established</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> e</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">mploy</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">ment of resources</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> is stimulated and unemployment</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">reduces substantially. In the same vein, </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">it was </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">note</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">d</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> that
high unemployment</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">in the
society is associated with a low degree of</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">entrepreneurial
activities, that is, where propensity to</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">set up
enterprises is low; the rate of unemployment</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">would
be very high. The implication of the above</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">assertions
is that those who are unemployed tend to</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">remain
so because they possess lower endowments of</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">human
capital and entrepreneurial talents required to</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">start
and sustain new firms to keep them going. A</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">low
rate of entrepreneurship culture and skills in any</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">society may be a consequence of the low economic</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">growth, which also reflects higher levels of</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">unemployment</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">.</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Wealth
Creation</span></b><b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> and Poverty Reduction</span></b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Entrepreneurship
enables individuals to use their potentials</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">and
energies to create</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> wealth through the
creation of goods and services. </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Poverty is a condition of
living that is</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">characterized </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">by</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> lack of the basic necessities of life.</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> One of the major cause of poverty is unemployment<span style="mso-spacerun: yes;"> </span>and since entrepreneurship is preoccupied with
employment generation, then by extension </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">the generation of employment
will therefore reduce the level of poverty.</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> Wealth if created will definately reduce the incidence
of poverty by empowering the citizens and increasing their access to basic
necessities of life (food, clothing, shelter, security and education)<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">Reduction
in</span></b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Rural</span></b><b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span></b><b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">- Urban Migration: </span></b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">The
burgeoning problems of urban un</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">employment
and</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">population congestion owing to the rapid rural
urban drift find its ultimate solution in the</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">restoration
of a proper balance between urban and rural economic opportunity. Rural</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">entrepreneurial activity in generating
employment is the link achieving this balance.</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Reduction
of Crime Rate: </span></b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">It is strongly believe</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">d</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> that unemployment is responsible to</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">a large extent for the level of social
complication of armed robbery, political thuggery, drugs peddling,
prostitution, </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">money</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">
laundering, currency counterfeiting, e-mail scam, and other such related
crimes. When individual</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">s</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"> are
unable</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">to satisfy their needs, most often, frustration
occurs. These frustrations breed fraudulent</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">practices.
Employment generation therefore will</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">reduce
the level of frustration and consequently, crime rate.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
<br />
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span></span><b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Rais</span></b><b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">ing the </span></b><b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Standard of Living: </span></b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">entrepreneurship
through job and wealth creation</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">raises
the standard of </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">living of people</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">. Owing
to higher income earning and</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">availability
of disposable income, they can therefore, afford the basic necessities of</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">life such as housing, clothing and food,
education, good health care delivery, etc.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Rural
Development: </span></b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Rural enterprises through employment generation
stimulate<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">r</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">ural development and the achievement of a
meaningful level of broad economic<o:p></o:p></span></div>
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<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;">
<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">d</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">evelopment. It decreases inequality in
distribution of rural income and reduces urban</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">-</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">rural</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">imbalances
in income and economic opportunities.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Encourages
Capital Formation: </span></b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">One factor responsible for the poor state of </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">an<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">economy
is </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">low </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">capital</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> formation</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">. When individuals are
employed, they can afford to save out of their</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">disposable
income. Entrepreneurs can therefore, facilitate the use of these savings
thereby stimulating capital formation, which is the engine of economic</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">growth</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">
and development</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">.</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span></span><b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Skills Acquisition and Increase
in </span></b><b><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">the Level of </span></b><b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Productivity
</span></b><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">Employment
</span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">generated by entrepreneurship </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">can be
a training ground where individual acquires and develops</span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">skills for creativity leading to a general
increase in </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">the </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">level </span><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">of </span><span style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%;">productivity.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">Conclusion<o:p></o:p></span></b></div>
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<span lang="HA" style="font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">Entrepreneurship has been recorgnized as an
important<span style="mso-spacerun: yes;"> </span>Economic activity that is
involved in providing unique product and process of doing things, it<span style="mso-spacerun: yes;"> </span>is<span style="mso-spacerun: yes;"> </span>the
act of being an entrepreneur and have been playing the role of<span style="mso-spacerun: yes;"> </span>employment generation, wealth creation,
poverty alleviation among others, it is therefore considered to be the engine
for growth and development especially in developing countries like Nigeria.
Based on its centra<span style="color: black;">l role in economic development,
respective governments, non governmental organizations, community based
organizations and other stake holders should promote its development in order
to reap its full benefits.<o:p></o:p></span></span></div>
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<span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-family: "Georgia","serif"; font-size: 12pt; line-height: 150%; mso-ansi-language: HA;">Thank You all for Listening<o:p></o:p></span></b></div>
Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com316tag:blogger.com,1999:blog-5080086240945615763.post-59105636319254343482013-01-18T15:04:00.002-08:002013-01-18T15:09:47.932-08:00INTRODUCTION TO ENVIRONMENTAL VALUATION AND COST BENEFIT ANALYSIS
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">INTRODUCTION TO </span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">ENVIRONMENTAL
VALUATION AND </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">C</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">OST </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">B</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">ENEFIT </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">A</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">NALYSIS<o:p></o:p></span></b></div>
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<span lang="HA" style="color: black; font-family: "Times New Roman","serif"; font-size: 11.5pt; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">By<o:p></o:p></span></div>
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<span style="color: black; font-family: "Times New Roman","serif"; font-size: 11.5pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">Mustapha Muktar, PhD<o:p></o:p></span></div>
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<span style="color: black; font-family: "Times New Roman","serif"; font-size: 11.5pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">Department of Economics<o:p></o:p></span></div>
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<span style="color: black; font-family: "Times New Roman","serif"; font-size: 11.5pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">Bayero University</span><span style="color: black; font-size: 10.5pt; mso-bidi-font-family: Calibri; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><span style="font-family: Calibri;">, </span></span><span style="color: black; font-family: "Times New Roman","serif"; font-size: 11.5pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">Kano-Nigeria<o:p></o:p></span></div>
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<span style="color: blue; font-family: MSUIGothic-WinCharSetFFFF-H; font-size: 11.5pt; mso-bidi-font-family: MSUIGothic-WinCharSetFFFF-H; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">mmukhtar.eco@buk.edu.ng </span><span style="color: black; font-family: MSUIGothic-WinCharSetFFFF-H; font-size: 11.5pt; mso-bidi-font-family: MSUIGothic-WinCharSetFFFF-H; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">and </span><span style="color: blue; font-family: MSUIGothic-WinCharSetFFFF-H; font-size: 11.5pt; mso-bidi-font-family: MSUIGothic-WinCharSetFFFF-H; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">muktaronline@gmail.com<o:p></o:p></span></div>
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<span style="color: black; font-family: MSUIGothic-WinCharSetFFFF-H; font-size: 11.5pt; line-height: 150%; mso-bidi-font-family: MSUIGothic-WinCharSetFFFF-H; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">http//:www.mustaphamuktar.blogspot.com</span><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></u></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Introduction<o:p></o:p></span></b></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">C</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">ost </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">B</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">enefit </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">A</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">nalysis
(CBA)</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
is a procedure for compa</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">ring</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
alternative possible causes of action </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">with</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
reference to the net benefits that they are likely to produce. Net benefit
refers to the differences between benefit</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">s</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
and cost</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">s</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">.
The cost</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">s</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
and benefits are measured in money terms. CBA is aimed at finding out whether
the welfare of a society would rise or fall as a result of contemplated
project. Cost-Benefit Analysis is an important tool of environmental decision
making in environmental m</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">anagement</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">.<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">After
the necessary valuation, the costs and benefits are compared using pro</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">fitability</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> indicators </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">of benefit cost ratio (BCR) and Net present value
technique (NPV), algebrically;<o:p></o:p></span></div>
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<i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">BCR=<u>∑Bt</u>, <span style="mso-tab-count: 2;"> </span>NPV=
<u>∑Bt-∑ct</u> <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></i></div>
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<i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>∑</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">Ct</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><span style="mso-tab-count: 3;"> </span><span style="mso-spacerun: yes;"> </span>(1+r)<sup>n</sup></span></i><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">d</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">eci</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">sion </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">i</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">s
taken thereof. A project is a viable if BCR is </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">greater than one or </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">if it has a pos</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">itive</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> NPV, however for</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> choice</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> among mutually exclusive projects, we
chose one </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">with<span style="mso-spacerun: yes;"> </span>the</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> highest BCR or NPV, if the
BCR=1 or NPV=0, then the cost of project is exactly equals to the benefit. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Environmental Cost-Benefit Analysis </span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">The
objective of every project is to increase welfare of the beneficiaries, any
project or investment which does not have the pro</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">spect</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> of improving the socio-economic well
being of the majority of population is irrational. governments therefore face
resource allocation decisions guided by CBA. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">One unique feature of environmental CBA is how the
changes associated with environmental assests are valued.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Valuing Environmental Changes <o:p></o:p></span></b></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">Valuation can simply be defined “<span style="mso-bidi-font-style: italic;">as an attempt to put monetary values or to</span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-bidi-font-style: italic; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">environmental
goods and services or natural resources”</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">. It is a key exercise in economic</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">analysis
and its results provide important information about values of environmental</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">goods and
services. This information can be used to influence decisions about wise use</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">and
conservation of forests and other ecosystems. The basic aim of valuation is to</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">determine
people’s preferences by gauging how much they are willing to pay (WTP) for</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">given
benefits or certain environmental attributes e.g. keep a forest ecosystem
intact. In</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">other words, valuation also tries
to gauge how much worse off they would consider</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">themselves
to be as a result of changes in the state of the environment such as</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">degradation
of a forest.</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">Economic valuation never refers to a stock, but only the change in
a stock. If one speaks</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">of the economic value of
biodiversity, then one always means the economic value of a</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">change of
biodiversity. It is not a question of determining the ‘true’ value of
biodiversity</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">or ecosystems <span style="mso-bidi-font-weight: bold;">but valuing changes and comparing them with
their alternatives</span>, e.g.</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">with a golf
course vs without a golf course. Thus </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">is meaningless
here to for example, ask</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">“how much are the</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">African
National Parks worth?”. A</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">reasonable question in this case
would be: ‘</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">If governments</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> ha</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">ve </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">proposed a
new policy to prevent the huge losses of wildlife species from African</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">National
Parks. What is the monetary value of the benefits of this policy (i.e., the</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">economic
damages avoided)? Economists thus stress that the valuation should focus <span style="mso-bidi-font-weight: bold;">on</span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-bidi-font-weight: bold; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">changes rather than levels </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">of biodiversity or ecosystem. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">The policy relevance of valuation information is extensive, but
might include:<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• demonstrating the value of biodiversity: awareness rising;<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• land use decisions: for conservation or other uses;<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• setting priorities for biodiversity conservation (within a
limited budget);<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• limiting biodiversity invasions;<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• assessing biodiversity impacts of non-biodiversity investments;<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• determining damages for loss of biodiversity: liability regimes;<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• limiting or banning trade in endangered species;<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• revising the national economic accounts</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> and<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• choosing economic instruments for saving biodiversity (e.g.
taxes, subsidies)</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> etc.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">Valuation has an important role to play in environmental planning
and management</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">activities because it helps to
answer many questions including the following about any</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">given
natural resource:</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> <span lang="HA"><o:p></o:p></span></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• What is the value of conserving a certain natural resource (e.g.
forest)? <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• To whom does the value accrue?<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• How does degradation and loss of the natural resource lead to
costs to different</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">segments of society?<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• Who gains and who loses when a natural resource is conserved or
degraded?<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• How can natural resource conservation be efficiently and
equitably financed?<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• How can people be motivated to take into account natural
resource benefits and costs</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">of its loss
in the course of their economic activities?<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">• How can policy, planning and decision making with regard to
natural resources be</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin;">better influenced?<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></b></div>
<br />
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Some Basic
Valuation Tecnniques<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">The S</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">tated</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> Preference Methods (SP) <o:p></o:p></span></b></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">This
is an umbrella term used to explain various methods. The most widely applied SP
is the contingent valuation (CV) method. Using an appropriately designed
questionnaire were environmental assets will serve as a good in question </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">to</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> be traded. Example </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">of traded assests are; </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">human health, water
sources to be financed, parks to be build or land to be mined. The CV define
the good, then the institutional context to which it should be provided and the
way it would be financed. Respondents are then asked to express their </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">maximum </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">willingness to pay (WTP) or minimum
willingness to accept compensation </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">(WTA) </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">for
a hypothetical change in the level of provision of good</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> or service</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">. This method is used to
assess all benefits associated with a change in the level of provision of goods
or services. This method has been applied in both developed and developing
countries to address, water quality, outdoor recreation, species preservation,
forest protection, air quality, visibility, waste management, health, natural
resource damage etc. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Other
less frequent method under the SP methods </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">includes</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> choice-modeling based on choice
experiment (CE). In (CE) survey respondents are required to choose their most
pr</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">e</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">ffered out of a set
of alternative policy options, for example in case of improving the quality of
water such as river, the attributes might be boost the rivers ecology
(indicated by fewer fish death), decrease health risk to those who are exposed
to water (swimmers and rowers</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> etc</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">).
CE is applied where changes are multi-dimensional and where trade</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">-</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">offs between these dimensions are of
particular interest. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Revealed Preference Methods (RP)</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">This
looks at the “second market” that is it analyses or make information for
non-market goods as implied by past behavior in associated market.<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">RP
is based on central behavior and hence enjoy higher credibility</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">,</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> for example if a person pay N20</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">0</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> for dispos</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">al</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> of his waste</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">/refuse</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">, then that is where his preference is
revealed. But one of its limitations is its inability to estimate non use
values, as it is based on market footprints of some form of user related behavior.
The two main RP techniques are Travel Cost method and hedo</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">nic</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> pricing method. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><o:p> </o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Travel
Cost Method (TC) has been used to value sp</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">artial</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> non market goods, particularly outdoor
locations (parks, wood land</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">,</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
beaches</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> etc</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">).
Individuals produce recreational experiences th</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">r</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">ough a number of factors which in some way
attract prices, the factors are </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">for
example, </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">and recreational areas, travel to and fro, and staying
overnight </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">etc, </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">the
information about these factors are collected and carefully analyzed. From
there the total utility is estimated and compared with the total cost; this is
however being estimated using econometric techniques. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">The
Hedo</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">nic</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Pricing
Method (HP)- the starting point here is that price of most goods is function of
a number of characteristics. For example, price of a house is likely to
reflect, safety, sanitation facilities, access to roads, utilities etc. The HP
method is sometimes used to estimate the value of avoiding risk, death or
injury by looking for price differentiates between two alternatives with
different exposures to risk. It is used to identify the value of non-market
goods (or b</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">a</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">ds)
affecting housing prices such as road traffic, air craft noise, and air
pollution, water quality, planning restrictions to open spaces in and around
the urban areas</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> etc</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">.
This technique depends on collection of large </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">sample</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> of data on prices and characteristics
of properties in an area and applying </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">econometric as well as </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">statistical techniques to estimate </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">the </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">hedo</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">nic</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> price functions, relating to each
characteristics of interest to the house price. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Combining
SP and RP however is most appropriate as they are found to be comp</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">lementary</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> to each other and can be used to
jointly estimate preference and that can be facilitated by using Geographical
Information System (GIS), which provide geo</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">-</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">coded data especially in the context of
recreation demand res</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">earches</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
and hedoure analysis. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">SUMMARY OF </span></b><b><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">BASIC </span></b><b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">TECNIQUES
</span></b><b><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">OF </span></b><b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">VALUATION</span></b><b><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p></o:p></span></b></div>
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<b><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Market Price Method: Estimates economic values for ecosystem products or
services that are</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">bought
and sold in commercial markets<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Productivity Method (net factor method, derived value method, effect on
production): Estimates economic values for ecosystem products or services that
contribute to the production</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">of commercially marketed goods<o:p></o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Hedonic Pricing Method (HPM): Estimates economic values for ecosystem or
environmental</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">services
that directly affect market prices of some other good. Most commonly applied to</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">variations
in housing prices that reflect the value of local environmental attributes.</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> <o:p></o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Travel Cost Method (TCM): Estimates economic values associated with ecosystems
or sites</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">that
are used for recreation. Assumes that the value of a site is reflected in how
much people</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">are
willing to pay to travel to visit the site.<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Damage cost Avoided, Replacement Cost, Substitute Cost Method, Avertive behavior:</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">Estimate
economic values based on costs of avoided damages resulting from lost ecosystem</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">services,
costs of replacing </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">ecosystem services,
or costs of providing substitute services<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Contingent Valuation Method (CVM): Estimates economic values for virtually any
ecosystem</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">or
environmental service. The most widely used method for estimating non-use, or “passive</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">use”
values. Asks people to directly state their willingness to pay for specific
environmental</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">services,
based on a hypothetical scenario<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Contingent Choice Method (CM): Estimates economic values for virtually any
ecosystem or</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">environmental
service. Based on asking people to make tradeoffs among sets of ecosystem or</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">environmental
services or characteristics. Does not directly ask for willingness to pay—this
is</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">inferred
from tradeoffs that include cost as an attribute</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">•
Benefit Transfer Method: Estimates economic values by transferring existing
benefit estimates</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> <span lang="HA">f</span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">rom studies</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">already
completed for another location or issue</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><o:p> </o:p></span></div>
Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-34498835890980502482013-01-11T14:24:00.005-08:002013-01-11T14:24:50.629-08:00Environmental Economics Lecture Note
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Arial Black","sans-serif"; font-size: 16pt; line-height: 115%; mso-ansi-language: HA; mso-bidi-font-family: Tahoma;">ENVIRONMENTAL
ECONOMICS LECTURE NOTE<o:p></o:p></span></b></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-ansi-language: HA;">Mustapha Muktar, Ph.D<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-ansi-language: HA;">Department of Economics<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-ansi-language: HA;">Bayero University</span><span lang="HA" style="mso-ansi-language: HA;"><span style="font-family: Calibri;">, </span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-ansi-language: HA;">Kano-Nigeria</span><span lang="HA" style="mso-ansi-language: HA;"><o:p></o:p></span></div>
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<a href="mailto:mmukhtar.eco@buk.edu.ng"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "MS UI Gothic","sans-serif"; font-size: 12pt; mso-ansi-language: HA; mso-bidi-font-family: Tahoma;"><span style="color: blue;">mmukhtar.eco@buk.edu.ng</span></span></b></a><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "MS UI Gothic","sans-serif"; font-size: 12pt; mso-ansi-language: HA;"> and <a href="mailto:muktaronline@gmail.com"><span style="mso-bidi-font-family: Tahoma;"><span style="color: blue;">muktaronline@gmail.com</span></span></a> <o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "MS UI Gothic","sans-serif"; font-size: 12pt; mso-ansi-language: HA;">http//:www.mustaphamuktar.blogspot.com <o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">NATURE AND SCOPE OF ENVIRONMENTAL
ECONOMICS<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;">Introduction <o:p></o:p></span></b></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">The environment become one of the major concerns to the
present economy because of the activities of man. The relationship between man
and environment have been changing along the development process from
generation to generation. Economists are concerned with increasing demand of
resourcess and its implication on the natural environment, therefore, a
controversey on the limits to growth. The environment provides food shelter,
clothing, medicine, raw materials and other resources.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Economics is concerned with making best allocation of
resources among competing alternatives, it is concerned with utilization of
resourcess to ensure an improvement in welfare. There is therefore, a strong
link between the environment and economics, humanity are faced with alot of
environmental problems which have economic dimensions.<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Environmental Economics is that aspect of economics that
deals with the interelationships between the environment and economic
development, it studies <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>the ways by which a balance is striked between
the two, it is also concerned with how the damage done can come to a halt or
reversed.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Scope
of Environmental Economics <o:p></o:p></span></b></div>
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<div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin: 0cm 0cm 0pt 22.5pt; mso-add-space: auto; mso-list: l3 level1 lfo1; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">To strike a balance between economic growth and the
environment<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 22.5pt; mso-add-space: auto; mso-list: l3 level1 lfo1; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Pollution control from economic point of view<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 22.5pt; mso-add-space: auto; mso-list: l3 level1 lfo1; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">The nature of consumption and utilization of resources as
they are being depleted, therefore optimal use with minimal level of wastage is
needed<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin: 0cm 0cm 10pt 22.5pt; mso-add-space: auto; mso-list: l3 level1 lfo1; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Limits to growth as growth must be controlled through
taxes and other fiscal measures to make it optimal <o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Relationship between Environment and the Economy<o:p></o:p></span></b></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Since the environment provides resources for economic
activities, all economies should therefore be concerned with the following
basic objectives, they are;<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin: 0cm 0cm 0pt 22.5pt; mso-add-space: auto; mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Effeciency in the utilization of resourcess<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 22.5pt; mso-add-space: auto; mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Equity in terms of distribution of income and resourcess
as well as compensations<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 22.5pt; mso-add-space: auto; mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Stability, such that taxes, charges and other control
measures should not be too high to discourage/reduce output<o:p></o:p></span></div>
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<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin: 0cm 0cm 10pt 22.5pt; mso-add-space: auto; mso-list: l1 level1 lfo2; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Growth, all economies aim at sustainable economic growth<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Man and Environment <o:p></o:p></span></b></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">The evolution and process of human civilization is a
story of man in his struggles against nature man has to subject nature to
satisfy his wants because he needs basic necessities of life and in his attemp
to satisfy them, he not only conquers the immediate environment but jeopardizes
the future of the next generation to come. This interrelationship is presented
below;<o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="mso-ansi-language: HA;"><span style="font-family: Calibri;">Environmental Factors:<o:p></o:p></span></span></b></div>
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<span lang="HA" style="mso-ansi-language: HA;"><span style="font-family: Calibri;">Land,
Climate, Vegetation, Menirals, Water, Atmosphere etc<o:p></o:p></span></span></div>
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<span lang="HA" style="mso-ansi-language: HA;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
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<span style="font-family: Calibri;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="mso-ansi-language: HA;">Human Factors:</span></b><span lang="HA" style="mso-ansi-language: HA;"> Demography, Economy,<span style="mso-spacerun: yes;"> </span>and Culture<o:p></o:p></span></span></div>
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<span lang="HA" style="mso-ansi-language: HA;"><span style="font-family: Calibri;">Technology<o:p></o:p></span></span></div>
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<span lang="HA" style="mso-ansi-language: HA;"><span style="font-family: Calibri;">Use of
Natural Environment<o:p></o:p></span></span></div>
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<table cellpadding="0" cellspacing="0" style="width: 100%px;">
<tbody>
<tr>
<td style="background-color: transparent; border: rgb(0, 0, 0);">
<div class="shape" style="padding: 4.35pt 7.95pt;" v:shape="_x0000_s1030">
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span lang="HA" style="mso-ansi-language: HA;"><span style="font-family: Calibri;">The
Environment Changes<o:p></o:p></span></span></div>
</div>
</td>
</tr>
</tbody></table>
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</span><br />
<table cellpadding="0" cellspacing="0" style="width: 100%px;">
<tbody>
<tr>
<td style="background-color: transparent; border: rgb(0, 0, 0);">
<div class="shape" style="padding: 4.35pt 7.95pt;" v:shape="_x0000_s1029">
<div class="MsoNormal" style="margin: 0cm 0cm 10pt;">
<span lang="HA" style="mso-ansi-language: HA;"><span style="font-family: Calibri;">Feedback and
Alteration<o:p></o:p></span></span></div>
</div>
</td>
</tr>
</tbody></table>
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%; mso-ansi-language: HA;"><span style="mso-tab-count: 15;"> </span><span style="mso-tab-count: 15;"> </span><span style="mso-tab-count: 15;"> </span><span style="mso-tab-count: 15;"> </span><span style="mso-tab-count: 15;"> </span><span style="mso-tab-count: 15;"> </span><span style="mso-tab-count: 13;"> </span>From
<o:p></o:p></span><br />
<br />
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 4.5pt; text-align: justify;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">From the figure above, one can see how the environment
provides land, climate, forests, water bodies and other assets. Human factors
inform of demography, culture and economy used technology to decide on how to
use the assets provided by the environment and in so doing, the environment
changes and the feedback is that it is altered from its natural formation.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">ENVIRONMENTAL
POLLUTION </span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></b></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Introduction</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></b></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Pollution
is the release by man of substances, chemicals and other products into the
environment that adversely affects life and properties. It can also be a
consequence of natural disaster. For example hurricanes often involve water
contamination, oil spills or the release of hazardous materials into the
environment. The substances that are released into the environment are term
pollutants. Pollutants can cause disease including cancer, allergies, asthma
and etc. pollution can take various forms depending on the nature of pollutants
and the damage it caused to the environment. We can therefore identify
pollution to include that of air, water, land</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> and </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">noise pollution.<span style="mso-spacerun: yes;"> </span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Economics of Pollution </span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Pollution
developed from the concept of externalities. Pollutants results from a
production or consumption process in which the conversion of inputs into
outputs is not efficient in a physical sense, that is some of the inputs become
waste products. Residuals from economic process enter into the environment and
damage it. The extent of this damage however, depends on the absorptive
capacity of the natural environment. Whenever the residuals outweigh the
absorptive capacity of the environment then, pollution occurs. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Economic Activity and Environmental
Pollution </span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></b></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<v:group coordorigin="1325,10236" coordsize="9279,4357" id="_x0000_s1038" style="height: 217.85pt; left: 0px; margin-left: -5.75pt; margin-top: 0.45pt; position: absolute; text-align: left; width: 463.95pt; z-index: 251673600;"><span style="font-family: Calibri;">
</span><v:shape id="_x0000_s1039" style="mso-height-relative: margin; mso-width-relative: margin; position: absolute;" type="#_x0000_t202"><span style="font-family: Calibri;">
<v:textbox>
</v:textbox></span></v:shape></v:group><table cellpadding="0" cellspacing="0" style="width: 100%px;">
<tbody>
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<td style="background-color: transparent; border: rgb(0, 0, 0);">
<div>
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: center;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;">Economic
Activity<o:p></o:p></span></div>
</div>
</td>
</tr>
</tbody></table>
<v:shape id="_x0000_s1040" style="mso-height-relative: margin; mso-width-relative: margin; position: absolute;" type="#_x0000_t202">
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<tbody>
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<div>
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: center;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;">Emissions
into the environment<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
</div>
</td>
</tr>
</tbody></table>
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<div>
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: center;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;">Absorption
into Harmless Form<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
</div>
</td>
</tr>
</tbody></table>
<v:shape id="_x0000_s1042" style="mso-height-relative: margin; mso-width-relative: margin; position: absolute;" type="#_x0000_t202">
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</v:textbox></v:shape><br />
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<tbody>
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<div>
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: center;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;">Non
Absorned Emissions<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
</div>
</td>
</tr>
</tbody></table>
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</v:textbox></v:shape><br />
<table cellpadding="0" cellspacing="0" style="width: 100%px;">
<tbody>
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<td style="background-color: transparent; border: rgb(0, 0, 0);">
<div>
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: center;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;">Accumulation
of stock Pollutants<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
</div>
</td>
</tr>
</tbody></table>
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</v:textbox></v:shape><br />
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<tbody>
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<div>
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: center;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;">Damage
to the Environment <o:p></o:p></span></div>
</div>
</td>
</tr>
</tbody></table>
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<v:stroke endarrow="block">
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<v:stroke endarrow="block">
</v:stroke></v:shape><v:shape id="_x0000_s1047" o:connectortype="straight" strokeweight="3pt" style="flip: x; position: absolute;" type="#_x0000_t32">
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<v:stroke endarrow="block">
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<v:stroke endarrow="block">
</v:stroke></v:shape><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><o:p></o:p></span><br />
<br />
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Economists
are concerned with the effects of pollution on welfare and are therefore
interested in the damage done to the environment as a whole as such pollution
can be defined as the net flows exceeding the absorptive capacity of the
environment and which have damaging effects upon human welfare and the
ecological system in general. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Pollution
affects the magnitude and size of environmental resources example it affects
the growth of plants, animals, as well as the quality of physical assets. It
can also affect the quality of Air and water that exist in the
environment.<span style="mso-spacerun: yes;"> </span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Efficient Level of Pollution </span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Identifying
efficient level of pollution is very crucial in pollution abatement and
control. Existing technology cannot produce goods and services without pollution
and hence a tradeoff between production and pollution exists as </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">un</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">desirable ones (pollution) are created. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Below summarises the argument.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Net
benefits of pollution = Benefits of outputs associated with pollution<span style="mso-spacerun: yes;"> </span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><span style="mso-spacerun: yes;"> </span>minus </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">damages resulting
from pollution<span style="mso-spacerun: yes;"> </span></span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">Economic
Instruments and </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Pollution
Control</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">The
following are some of the policy tools of controlling pollution:<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin: 0cm 0cm 0pt 36pt; mso-add-space: auto; mso-list: l0 level1 lfo3; text-align: justify; text-indent: -18pt;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">-<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Emission standards, this is a legal approach
in which the authorities impose emission standards on each source in economics,
this approach is referred to as “command-and-control approach.” An emission
standard is a legal limit on the amount of pollutant an individual source is
allowed to emit</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> failure to abide
attracts charges.</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 36pt; mso-add-space: auto; mso-list: l0 level1 lfo3; text-align: justify; text-indent: -18pt;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">-<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Transferable Emission Permits- Under this
system all sources are required to have permits to emit. Each permit specifies
how much a firm is allowed to emit and the permits are freely transferable and
can be bought or sold and any source exceeding the permit will cause severe
monetary sanctions.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin: 0cm 0cm 0pt 36pt; mso-add-space: auto; mso-list: l0 level1 lfo3; text-align: justify; text-indent: -18pt;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">-<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Product charges where it is not possible to
monitor the level of emissions, then the commodity that is most directly
responsible for pollution/emissions should be taxed. For example gasoline could
be taxes rather than the emissions, also fertilizer is taxed rather than the
contamination it did to the groundwater sources. The Irish have even tax
plastic bags to prevent littering; one limitation of this is that products are
taxes uniformly while they caused different level of emissions. <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></div>
<br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;">
<span style="font-family: Calibri;"><span style="font-size: 12pt;">Irish Bag </span><span lang="HA" style="font-size: 12pt; mso-ansi-language: HA;">Policy </span><span style="font-size: 12pt;">In</span><span style="font-size: 12pt; mso-ansi-language: HA;"> </span><span style="font-size: 12pt;">2002 a tax of $15 per plastic bag
was charged it brought about 95% reductions in bags and the revenue earned is
used by Government to manage the environment. (see
http//:www.Golby.edu/~thtieten/litter.html/.)<o:p></o:p></span></span></div>
<br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Agriculture and </span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">the </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Environment </span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Introduction <o:p></o:p></span></b></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Agriculture
is the science and art of tilling the soil and rearing of animals for the
purpose</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">s</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> of
producing food for man and raw materials for industries, population growth and
the need for foreign exchange have stimulated agricultural practices and
development and h</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">ence</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
this prompted environmental change. The impact of agricultural practices on the
environment is dependent on the type of the natural environment (desert,
rainforest, or m</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">ou</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">ntain
region). </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Some
of the negative effects of agriculture on environment are deforestation, soil
erosion, salinization, bush burning and overgrazing. <o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Deforestation:</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> is
the removal of vegetation cover and its consequences manifests itself in
several forms such as erosion, drought, firewood scarcity, sedimentation and
micro</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">-</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">climatic damages,
deforestation is caused by indiscriminate felling of tree</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">s</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> and large scale extraction of wood for
furniture as well as paper and pulp manufacturing. The developing world
deforests 11.3 million hectres per year; some consequences of deforestation are
species extinction, loss of fixed carbon and reduced capacity of water
retention by soils.<span style="mso-spacerun: yes;"> </span><b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span></b><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Soil
Erosion: </span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">This is a situation where by top soil are removed or
lost from land surface it can be caused by bad agricultural practices such as
bush burning, deforestation and overgrazing. Soil is removed and also where the
sediments are deposited, soil erosion results to low productivity. <b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span></b><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Salinization:</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
This is a form of environmental degradation associated with irrigation which
leads to reduction in crop productivity. Salinization connotes an increase in
the concentration of minerals due to inadequate drainage</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">,</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> and the groundwater becomes saline and
water logged the area, the affected land therefore becomes unsuitable for
production, since the present of salt and minerals in the roots of crops hinder</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">s</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> their growth. Salinity also increased due
to high water loss were evaporation is rapid. <o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Bush
Burning: </span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">In developing world especially, fire is used to clear
virgin lands for agricultural purposes. This indiscriminate burning caused loss
of most Nitrogen, sulphur and carbon, elimination of seedlings to grow,
destruction of humus as well as adverse effects on soil m</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">i</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">cro</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">-</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">fau</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">na</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> and destruction of micro</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">-</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">flora. All of the above have adverse effects
on the environment and results to low productivity in agriculture. <o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Overgrazing:
</span></b><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">This
is over exploitation of the grazing lands usually herdsmen and farmers; it
triggers soil erosion, desertification and other process of environmental
degradation. Productivity is diminished with a consequence on economy and the
welfare of people. Fertility of land will also decline since its botanical composition
has changed as more palatable and nutritious species are removed. <o:p></o:p></span></div>
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<div class="MsoListParagraph" style="margin: 0cm 0cm 10pt 36pt;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Control of Adverse Agricultural
Practices on Environment <o:p></o:p></span></b></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Deforestation
can be controlled by an effective forest policy, afforestation programmes and
tree planting campaigns. Policies should however be cont</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">inues</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> and sustainable. Soil erosion can be
converted by counter ploughing, mixed and intercropping, establishment of
vegetation cover, adoption of suitable land use measures and measures of early
detection so as to de</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">t</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">er
its occurrence. Salinization can however be reversed by creating canals, to
allow free passage of water and by appropriate agricultural practices. Bush
burning can be converted first by the introduction of leguminous plants to help
conserve soils nutrients by enhancing the process of nitrogen build-up in the
soil, and secondly by promulgating a law to stop it. Lastly overgrazing can be
controlled through collaborating on the local people and those involved limiting
their action on frequent and heavy grazing of lands. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;">
<span style="font-size: 12pt;"><span style="font-family: Calibri;">(Discuss other feasible
measures of controlling the above problems in your local communities)<o:p></o:p></span></span></div>
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">ENERGY
INDUSTRIALIZATION AND ENVIRONMENT </span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Introduction</span></b><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></b></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">As
society expands and become complex the need for various sources/types of energy
to support both domestic and industrial activities also expands,
industrialization is associated with the utilization of one form of energy or
another, since it converts raw materials into finished goods. Extraction of
mineral resources that yield energy is associated with environmental
degradation this can be in the forms of health risks, acid leached into streams
from mine operations as well as air pollution due to burning of fossils fuels.
In most cases the environmental damage is not borne by the owner and hence not
compensated as such is not part of the extraction decisions of the energy
source. </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">In
areas where minerals are extracted for energy purposes the environment changes
and the change relates to the way and manner the energy sources are being
extracted. The extraction of energy source may be in form of open cast, quarry</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">in</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">g, or deep cast</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">,</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> in case of oil and natural gas, it is deep
drilling.<o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Mining
of mineral/energy resources cause considerable environmental changes as
sometimes it</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> is</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
many kilometers deep and wide. It creates ponds and pits that accelerate
erosion rates disrupt local drainage networks and since it cannot supports
vegetation cover, then it paves way for desertification and desert encroachment
especially when it happens in savannah regions. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Another
environmental effect is that a lot of villages have to be relocated for the
mining activity to take place and hence farmlands as well as other ecological
assets will be lost forever. The relocation of people will however lead to
migration to urban areas and increasing the urban population. The lost of
sceneric value as well as recreational facilities. Sometimes collapse of rock
and accidents occur and a lot of people los</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">e</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> their lives. The collapse can occur in
working and abandoned mines. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">A
more disastrous effect of energy on the environment is seen from the pollution
generated in the course if utilizing the energy source. It results to
destruction of soil, aquatic and atmospheric quality. The use </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">of</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> fossil fuels is of most significant</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">t</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> here the inputs of these energy sources are
being accelerated when they are used in industrial process. The mining of coal
as well as radioactive elements for energy purposes have succeeded in polluting
groundwater as well as damaging both the flora and fa</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">u</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">na. <o:p></o:p></span></div>
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 115%;"><o:p> </o:p></span></div>
<br />
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<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">The
use of fossil fuels began with industrial relocation, concerned was mainly on
the increase in concentration of c</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">loro-</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">fluoro</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">carbons and green house gasses which affects
the climate. The deposition of the gasses is one of the most causes of aquatic
and terrestrial acidification, it has also rendered water supply unportable</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">.</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">T</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">hese
gasses may also pose threat to human health </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">which</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> include lead pollution from
automobiles and industrial process.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Sto</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">r</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">ed carbon from biomass and fossils </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">is</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> rapidly being transformed to atmosphere.
Increasing concentration of CO<sub>2</sub> into atmosphere due to emission of unburned
hydrocarbons could damage plants health and hence negatively affects
productivity and can also lead to global warming. <o:p></o:p></span></div>
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<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">The
release of gasses into the atmosphere as a result of industrialization may also
lead to acidification as precipitation because </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">it is </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">more acidic and hence lead to decline </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">in</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> fish stock and other water resources. Acid
rains occur and it corrodes paints and destroys other structures the formation
of acid rain can be demonstrated below:<o:p></o:p></span></div>
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<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">So<sub>2</sub>+H<sub>2</sub>O</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Bookman Old Style","serif"; font-size: 14pt; line-height: 150%; mso-bidi-font-family: Tahoma;">→</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">H<sub>2</sub>SO<sub>3</sub> </span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Bookman Old Style","serif"; font-size: 14pt; line-height: 150%; mso-bidi-font-family: Tahoma;">↔</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">H<sup>+</sup>+HSO<sub>3</sub><o:p></o:p></span></i></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">As
sulphurous acid can be oxidized by various oxidants. <o:p></o:p></span></div>
<br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span><sub>Oxidant <o:p></o:p></sub></span></div>
<br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;">
<i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">So<sub>2<span style="mso-spacerun: yes;"> </span></sub></span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Bookman Old Style","serif"; font-size: 14pt; mso-bidi-font-family: Tahoma;">→</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>S</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">o</span></i><i style="mso-bidi-font-style: normal;"><sub><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">3</span></sub></i><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"> and can therefore
form a weak sulphuric acid as below:<o:p></o:p></span></div>
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<i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></i></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">So<sub>3</sub>+H<sub>2</sub>O</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Bookman Old Style","serif"; font-size: 14pt; line-height: 150%; mso-bidi-font-family: Tahoma;">→</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">H<sub>2</sub>SO<sub>4</sub> </span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Bookman Old Style","serif"; font-size: 14pt; line-height: 150%; mso-bidi-font-family: Tahoma;">↔</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">H<sup>+</sup>+HSO<sub>4</sub></span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Bookman Old Style","serif"; font-size: 14pt; line-height: 150%; mso-bidi-font-family: Tahoma;">↔2</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">H<sup>+</sup>+SO<sub>4</sub><sup>2</sup></span></i><sup><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">-</span></sup><sup><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"> </span></sup><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">. </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">The
same applies to form nitrogen acids.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Other
environmental problems occur with the </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">cracking and </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">utilization of radioactive material/elements
to speed of the energy requirement of industrial process. Two major
environmental problems are <o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l2 level1 lfo4; text-align: justify; text-indent: -54pt;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">(i)<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Nuclear accidents and <o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin: 0cm 0cm 0pt 72pt; mso-add-space: auto; mso-list: l2 level1 lfo4; text-align: justify; text-indent: -54pt;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-fareast-font-family: Tahoma;"><span style="mso-list: Ignore;">(ii)<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Storage of radioactive wastes<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">In
the course of e</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">nerg</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">y
production</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">,</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
radioactive elements releases waste to the environment inform of heat and toxic
substances that damaged the environment, where these accidents do not occur,
the management and storage of the waste is another problem as is not easy to
end the nuclear cycle for example uranium onces used contain thorium 230 which
decays with half life of 78, 000 years to a Radon 222. Also strontium-90 and
cesium-137 decayed after approximately 1, 000 years as such once used today
they affect not only the current generation but the succeeding ones.</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">Lastly
industrialization is associated with the generation of toxic waste water as
well as solids that harmfully affects lives and properties as well as other
environmental assets. An example is the <i style="mso-bidi-font-style: normal;">koko</i>
waste that </span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">was</span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;">
once deposited in the southern part if Nigeria</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;">.</span><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"> </span><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p></o:p></span></div>
<br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;">
<i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">Examine how do the</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"> following forms of
energy damage the environment:<o:p></o:p></span></i></div>
<br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;">
<i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">Hydroelectricity</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">, </span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">Wind energy</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">, </span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">Solar energy</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">, </span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">Photovoltaic</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;"> and Bio</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;">-fuel (ethanol
generation)</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">.</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"> Is the synthesis</span></i><i style="mso-bidi-font-style: normal;"><span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; mso-ansi-language: HA;">s</span></i><i style="mso-bidi-font-style: normal;"><span style="font-family: "Tahoma","sans-serif"; font-size: 14pt;"> of bio-fuel economically feasible? <o:p></o:p></span></i></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span lang="HA" style="font-family: "Tahoma","sans-serif"; font-size: 14pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
</div>
</div>
</div>
Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-13148228872781408592012-10-18T14:42:00.003-07:002012-10-18T14:44:46.016-07:00Government fiscal bahaviour and Globalization of World Economy<br />
<div class="MsoListParagraphCxSpFirst" style="margin: 0cm 0cm 0pt 36pt;">
<span lang="HA" style="font-family: "Berlin Sans FB","sans-serif"; font-size: 12pt; line-height: 115%; mso-ansi-language: HA;">Compiled by Mustapha Muktar, Ph.D<o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpMiddle" style="margin: 0cm 0cm 0pt 36pt;">
<span lang="HA" style="font-family: "Berlin Sans FB","sans-serif"; font-size: 12pt; line-height: 115%; mso-ansi-language: HA;">Department of Economics <o:p></o:p></span></div>
<br />
<div class="MsoListParagraphCxSpLast" style="margin: 0cm 0cm 10pt 36pt;">
<span lang="HA" style="font-family: "Berlin Sans FB","sans-serif"; font-size: 12pt; line-height: 115%; mso-ansi-language: HA;">Bayero Univeristy Kano<o:p></o:p></span></div>
<br />
<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="mso-cellspacing: 0cm; mso-padding-alt: 0cm 0cm 0cm 0cm; mso-yfti-tbllook: 1184; width: 600px;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="background-color: transparent; border: rgb(0, 0, 0); padding: 0cm;"><div align="center" class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3; text-align: center;">
<b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Government’s </span></b><b><span style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-fareast-font-family: "Times New Roman";">Fiscal </span></b><b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Behaviour<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3;">
<b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Fiscal Policy<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="background-color: transparent; border: rgb(0, 0, 0); padding: 0cm;"><div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman";"> <o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2; mso-yfti-lastrow: yes;">
<td style="background-color: transparent; border: rgb(0, 0, 0); padding: 0cm;"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; text-align: justify;">
<a href="http://www.blogger.com/null" name="OLE_LINK104"><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-bidi-font-style: italic; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Fiscal
policy</span></a><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-bidi-font-style: italic; mso-fareast-font-family: "Times New Roman";"> involves the use of <span style="mso-bidi-font-weight: bold;">government spending, taxation and borrowing</span> to influence both
the pattern of economic activity and also the level and growth of </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-style: italic; mso-fareast-font-family: "Times New Roman";">an economy. Fiscal policy is a stabilization tool used to control and
stabilize an economy. Fiscal policy therefore is a deliberate attempt by the
government of a country or nation to stabilize economy using fiscal policy
tools. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">Fiscal
policy is said to be tight or contractionary when revenue is higher than
spending (i.e., the government budget is in surplus) and loose or
expansionary when spending is higher than revenue (i.e., the budget is in
deficit).</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; text-align: justify;">
<b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Objectives of Fiscal Policy<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To achieve
price stability<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To achieve
high rate of employment<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To reduce
income inequality among citizens<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To achieve
high rate of economic growth<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l1 level1 lfo1; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To achieve
balance of payment equilibrum<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; text-align: justify;">
<b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Instruments of Fiscal Policy<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l2 level1 lfo2; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Government
Budget/expenditure<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l2 level1 lfo2; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Taxes and
taxation<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l2 level1 lfo2; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Wages and
Salaries<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l2 level1 lfo2; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Subsidies
and other concessions.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; text-align: justify;">
<b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Fiscal policy in Developing Countries<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; text-align: justify;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">The objectives of fiscal
policy in developing countires like Nigeria are abit different because of the
backwardness, therefore the need is to have self sustaining economic growth
and stability in prices; specifically the objecitves are;<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo3; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To increase
revenue surplus for development expenditure<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo3; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To increase
agricultural and industrial production<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo3; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To reduce
import of unnecessary items<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo3; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To provide
incentives to savings and investments<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l4 level1 lfo3; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">To boost
economic growth<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 18pt; mso-margin-bottom-alt: auto; text-align: justify;">
<b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Measures of Achieving Fiscal Policy
Objectives in Developing Countries<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Deficit
financing<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Prioritization
of development expenditure<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Provision
of capital and credits <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Encouraging
exports<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Encouraging
of savings<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 36pt; mso-list: l3 level1 lfo4; mso-margin-bottom-alt: auto; text-align: justify; text-indent: -18pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Public
works programmes<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt 18pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-spacerun: yes;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 1;">
<b><span style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">Globalization</span></b><b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"> and the World
Economy<o:p></o:p></span></b></div>
<br />
<div class="MsoNormal" style="line-height: normal; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 1;">
<b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">Introduction</span></b><b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"> </span></b><b><span style="font-family: "Times New Roman","serif"; font-size: 16pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><o:p></o:p></span></b></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Globalization refers to the trend toward
countries joining together economically, through education, society and
politics, and viewing themselves not only through their national identity but
also as part of the world as a whole.</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"> It implied </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">multiplicity
of linkages and interconnections that transcend the nation</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;">s and economies</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;"> which make up the modern world system. </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;">Globalization is </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">a process through which events, decisions and
activities in one part of the world</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">can
come to have a significant consequence for individuals and communities in</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> other</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;"> parts of the globe. Alternatively,
globalization might be characterized functionally by an intrinsically related</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">series of economic phenomena. These include
the liberalization and deregulation of markets,</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">privatization
of assets, </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;">reduction in</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;"> state functions, and diffusion of</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">technology</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;">, </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">foreign direct investment,</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">and the integration of capital markets. In its
narrowest formulation, the term refers to the</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">worldwide
spread of sales, production facilities, and manufacturing processes, all of
which</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: Cambria;">reconstitute the international division of
labor.</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: Cambria;"><o:p> </o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">Economic
"globalization" is a historical process, the result of human
innovation and technological progress. It refers to the increasing integration
of economies around the world, particularly through the movement of goods,
services, and capital across borders. The term sometimes also refers to the
movement of people (labor) and knowledge (technology) across international
borders. There are also broader cultural, political, and environmental
dimensions of globalization.<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">The
term "globalization" began to be used more commonly in the 1980s,
reflecting technological advances that made it easier and quicker to complete
international transactions</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">both
trade and financial flows. It refers to an extension beyond national borders of
the same market forces that have operated for centuries at all levels of human
economic activity</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">village
markets, urban industries, or financial centers.</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">Some Indicators
of Globalization<o:p></o:p></span></b></div>
<br />
<ul type="disc">
<li class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 12pt; mso-list: l0 level1 lfo5; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">The
value of trade (goods and services) as a percentage of world</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">’</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">s GDP increased from 42.1
percent in 1980 to 62.1 percent in 2007<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 12pt; mso-list: l0 level1 lfo5; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">Foreign
direct investment increased from 6.5 percent of world GDP in 1980 to 31.8
percent in 2006<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 12pt; mso-list: l0 level1 lfo5; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">The
number of minutes spent on cross-border telephone calls, on a per-capita
basis, increased from 7.3 in 1991 to 28.8 in 2006<o:p></o:p></span></li>
<li class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-list: l0 level1 lfo5; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">The
number of foreign workers has increased from 78 million people (2.4
percent of the world population) in 1965 to 191 million people (3.0
percent of the world population) in 2005.<o:p></o:p></span></li>
</ul>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">The
growth in global markets has helped to promote efficiency through competition
and the division of labor</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">the
specialization that allows people and economies to focus on what they do best.
Global markets also offer greater opportunity for people to tap into more
diversified and larger markets around the world. It means that they can have
access to more capital, technology, cheaper imports, and larger export markets.
But markets do not necessarily ensure that the benefits of increased efficiency
are shared by all. Countries must be prepared to embrace the policies needed,
and, in the case of the poorest countries, may need the support of the
international community as they do so.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">The
broad reach of globalization easily extends to daily choices of personal,
economic, and political life. For example, greater access to modern
technologies, in the world of health care, could make the difference between
life and death. In the world of communications, it would facilitate commerce
and education, and allow access to independent media. Globalization can also
create a framework for cooperation among nations on a range of non-economic
issues that have cross-border implications, such as immigration, the
environment, and legal issues. At the same time, the influx of foreign goods,
services, and capital into a country can create incentives and demands for strengthening
the education system, as a country's citizens recognize the competitive
challenge before them.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">Globalization
implies that information and knowledge get dispersed and shared. Innovators</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"> <span lang="HA">either</span></span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"> in business or government</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">can draw on ideas that have been
successfully implemented in one jurisdiction and tailor them to suit their own
jurisdiction. Just as important, they can avoid the ideas that have a clear
track record of failure. <o:p></o:p></span></div>
<br />
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">Advantages of Globalization</span></b><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;"><br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">1. </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Increased free trade between nations <br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">2. </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Increased liquidity of capital allowing
investors in developed nations to invest in developing nations<br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">3. </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Corporations have greater flexibility to
operate across borders<br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">4. Easy flow of information and knowledge</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;"><br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">5.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Increased flow of communications allows
vital information to be shared between individuals and corporations around the
world<br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">6. </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Greater ease and speed of transportation
for goods and people<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">7.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Reduction
of cultural barriers</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"> and </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">greater
interdependence of </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">countries<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">8.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Increases
in environmental protection in developed nations.<o:p></o:p></span></div>
<br />
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<b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">Disadvantages of Globalization</span></b><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;"><br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">1. </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">International bodies like the World
Trade Organization infringe on national and</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"> </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">individual
sovereignty </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">2.increase the gap between rich and poor nations <o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;"><br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">3.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Increase in the chances of war </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">within and </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">between countries as
they vie for resources <br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">4.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Decreases in environmental integrity as
polluting corporations take advantage of weak regulatory rules in developing
countries <br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">5.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Increased </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">unemployment of labour as machine displaces labour.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">
<br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">6.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Increased likelihood of economic
disruptions in one nation effecting all nations <br />
</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">7.</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Greater risk of diseases being
transported unintentionally between nations </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";">Globalization seems to be gathering more and more momentum</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";"> as it has
come to stay</span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"> the
question frequently asked about globalization is not whether it will
continue, but at what pace</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA; mso-fareast-font-family: "Times New Roman";">?<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">Globalization
has contributed a lot to the world today. It boosts countries’ economies,
advance technologies and improve daily life of the people. But in the
meantime whether it is a blessing or a curse has sparked much debate. This is
because the benefit of globalization always comes with the drawbacks.
Convincing argument can be made that globalization has led to advancement in
technologies. This advancement has built the new world without boundaries.
So, the communication can be made with any other parts of the world through
technologies such as internet and telephone. Hence, ideas exchange can be
done among intellectuals, journalists, scientists or ordinary people. As a
result, the best ideas will be spread all over the world which led to enhance
the world achievements. <br />
<br />
However, there are some disadvantages of the globalization. The absence of
boundaries of the world through technologies could create harmful to the
people</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"> through for
example </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">access to the bad </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">and scandalous </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">website in internet
such as </span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;">fraud, </span><span style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%;">drugs
and pornography could affect people minds. <br />
There is no doubt that globalization has both good and bad effects towards
people and the world. However, the disadvantages of globalization could be
reduced if the responsible authorities provide best solution to curb these
problems.</span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p></o:p></span></div>
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<span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 13pt; line-height: 150%; mso-ansi-language: HA;"><o:p> </o:p></span></div>
Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-73259981175743090342012-08-21T16:34:00.000-07:002012-08-21T16:34:23.907-07:00BUS 8315: Fundamentals of Economic Theory: Module IIProfessor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-76300899041690130492012-08-14T16:06:00.000-07:002012-08-14T16:06:41.122-07:00Fundamentals of Economic Theory I<br />
<div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Bayero University Kano<o:p></o:p></span></b></div><br />
<div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Faculty of Social and Management Sciences<o:p></o:p></span></b></div><br />
<div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Department of Business Administration<o:p></o:p></span></b></div><br />
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</div><br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">BUS 8315:</span></b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Fundamentals of Economic Theory<b style="mso-bidi-font-weight: normal;"><o:p></o:p></b></span></div><br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Course Facilitator: </span></b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Dr. Mustapha Muktar<b style="mso-bidi-font-weight: normal;"><o:p></o:p></b></span></div><br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Lecture Schedule</span></b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">: Wednesday 11 – 1 am<o:p></o:p></span></div><br />
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</div><br />
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 10pt; tab-stops: 151.6pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%; mso-bidi-font-size: 12.0pt;">COURSE OUTLINE<o:p></o:p></span></b></div><br />
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; tab-stops: 151.6pt;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 115%;">Introduction<o:p></o:p></span></b></div><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; tab-stops: 151.6pt; text-align: justify;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">The aim of this course is equip students with morden economic theory so that<span style="mso-spacerun: yes;"> </span>they will have a clear understanding of key economic models relevant to firm level strategy. The topic to be covered ranges from theories of consumer bahaviour down to the theories of production to distribution.<o:p></o:p></span></div><br />
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<div class="MsoListParagraphCxSpFirst" style="line-height: 150%; margin: 0cm 0cm 0pt 18pt; mso-add-space: auto; mso-list: l0 level1 lfo1; tab-stops: 151.6pt; text-align: justify; text-indent: -18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">1.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Introduction to morden economic theory<o:p></o:p></span></div><br />
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 18pt; mso-add-space: auto; mso-list: l0 level1 lfo1; tab-stops: 151.6pt; text-align: justify; text-indent: -18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">2.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Theories of consumer behaviour<o:p></o:p></span></div><br />
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 18pt; mso-add-space: auto; mso-list: l0 level1 lfo1; tab-stops: 151.6pt; text-align: justify; text-indent: -18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">3.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Theories of production and distribution<o:p></o:p></span></div><br />
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 18pt; mso-add-space: auto; mso-list: l0 level1 lfo1; tab-stops: 151.6pt; text-align: justify; text-indent: -18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">4.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Theories of firm and market structure<o:p></o:p></span></div><br />
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 18pt; mso-add-space: auto; mso-list: l0 level1 lfo1; tab-stops: 151.6pt; text-align: justify; text-indent: -18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">5.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Theories of consumption<o:p></o:p></span></div><br />
<div class="MsoListParagraphCxSpMiddle" style="line-height: 150%; margin: 0cm 0cm 0pt 18pt; mso-add-space: auto; mso-list: l0 level1 lfo1; tab-stops: 151.6pt; text-align: justify; text-indent: -18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">6.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Government fiscal behaviour<o:p></o:p></span></div><br />
<div class="MsoListParagraphCxSpLast" style="line-height: 150%; margin: 0cm 0cm 10pt 18pt; mso-add-space: auto; mso-list: l0 level1 lfo1; tab-stops: 151.6pt; text-align: justify; text-indent: -18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%; mso-fareast-font-family: "Times New Roman";"><span style="mso-list: Ignore;">7.<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";"> </span></span></span><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Globalization and the world economy<o:p></o:p></span></div><br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Contact: </span></b><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">No 10 Department of Economics<o:p></o:p></span></div><br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt 18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">Blog:<span style="mso-spacerun: yes;"> </span>http//www.mustaphamuktar.blogspot.com<o:p></o:p></span></div><br />
<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt 18pt;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt;">e-mail: mmuktar75@yahoo.com<o:p></o:p></span></div><br />
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<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; tab-stops: 151.6pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="font-family: "Times New Roman","serif"; font-size: 12pt; line-height: 150%;">Reading Lists<o:p></o:p></span></b></div><br />
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</div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com2tag:blogger.com,1999:blog-5080086240945615763.post-85282494067980572002012-08-10T19:27:00.001-07:002012-08-10T19:27:39.672-07:00International Trade and the Challenges of Sustainable Development in Nigeria: Towards Conceptual and Theoretical Explanations<span style="color: black; font-family: "Arial Black"; font-size: 24pt; font-style: normal; font-variant: normal; font-weight: normal; language: en-US; mso-ascii-font-family: "Arial Black"; mso-bidi-font-family: Arial; mso-color-index: 1; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 12.0pt; mso-text-raise: 0%; text-transform: none; vertical-align: baseline;"><span style="font-family: Times New Roman; font-size: small;"> </span></span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><v:rect id="_x0000_s1026" stroked="f" style="height: 32.25pt; margin-left: -3.05pt; margin-top: -36.05pt; mso-position-horizontal-relative: text; mso-position-vertical-relative: text; position: absolute; width: 352.75pt; z-index: 251657728;"><b style="mso-bidi-font-weight: normal;"><span lang="HA" style="color: black; font-variant: small-caps; mso-ansi-language: HA; mso-themecolor: text1;"><o:p><span style="font-family: Times New Roman; font-size: small;"></span></o:p></span></b></v:rect></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div align="center" class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Charter Bd BT","serif"; font-size: 20pt; font-variant: small-caps; mso-bidi-font-size: 14.0pt; mso-themecolor: text1;">International Trade and The Challenges of Sustainable Development In Nigeria: A Review of Conceptual and Theoretical Issues<o:p></o:p></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div align="center" class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: center;"><i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">S. D. Dogon-daji, and M. Muktar<o:p></o:p></span></span></i></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 14pt; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Introduction<o:p></o:p></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="Default" style="margin: 1em 0px; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The importance of international trade to a nation’s economic welfare and sustainable development has been much recognised in the economics literature (Morgan and Katsikeas, 1997). The trade is based on the fact that no country can produce all goods and services, which people require for their consumption largely owing to resources differences and constraints (Mannur, 1995). As a result, this trade relationship suggests that economies need to export goods and services in order to generate revenue to finance imported goods and services, which cannot be produced domestically (Coutts and Godley, 1992; McCombie and Thirlwall, 1992 cited in Morgan and Katsikeas, 1997). Thus, as many countries have recorded sustainable growth and development through an export–led strategy, effective venturing into international trade is expected to assist Nigeria get sustained growth at the rates needed to make a visible impact on poverty reduction.<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify; text-indent: 18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">However, it has been observed that the Nigerian economy has grossly under-performed relative to its enormous resource endowment and her peer nations. With about 37 solid mineral types and a population of over 150 million persons, one of the largest gas and crude oil reserves in the world the economic performance of the country was described rather weak when compared to the emerging Asian countries such as Thailand, Malaysia, China, India and Indonesia. Those countries had by far lagged behind Nigeria in terms of GDP per capita in 1970, but later they were better able to<span style="mso-spacerun: yes;"> </span>transform their economies to emerge as major players on the global economic arena. In 1970 for instance, Nigeria had a GDP per capita of US$233.35 and was ranked 88th in the world, when China was ranked 114</span><sup><span style="font-size: x-small;">th</span></sup><span style="font-size: small;"> with a GDP per capita of US$111.82 (Sanusi, 2010). Today, China occupies an enviable position in the global scheme of affairs largely owing to her self-esteemed trade position.<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify; text-indent: 18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">It is against this background that this work attempts to review the challenges of sustainable development in Nigeria through international trade. The chapter is divided into four sections including the introduction. The second section deals with conceptual issues and reviews of theories on international trade. The third section draws the relevance of these theories to Nigeria and finally the fourth section concludes the chapter. <o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt 18pt; tab-stops: 156.0pt; text-align: justify; text-indent: -18pt;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 14pt; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Conceptual and Theoretical Issues<o:p></o:p></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Conceptual Issues<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Mannur (1995) defines international trade as an exchange of goods and services between the residents of a given country and those of the rest of the world. It is, therefore, a mechanism, which links the countries of the world through commodity trade, service flows and factor movements. As noted earlier, international trade was based on the fact that no country can produce all goods and services, which her people require for their consumption mainly due to resources constraints and differences (Mannur, 1995). Therefore, this trade relationship provides an opportunity for countries to export goods and services in order to generate revenue to finance imported goods and services, which cannot be produced domestically (Coutts and Godley, 1992; McCombie and Thirlwall, 1992 cited in Morgan and Katsikeas, 1997).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify; text-indent: 18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">On the other hand, sustainable development is described as a development that meets the needs of the present generation without compromising the needs of the future ones (WCED, 1987 cited in Ite, 2003 and Ikeme, 2000). It is a process of change in which the exploitation of resources, the direction of investments, the orientation of technological development, and institutional change are made consistent with future as well as present needs (Bonn, n. d.). It is also an alternative development strategy for improving the living conditions of the human population without degrading the quality of the environment. The concept thus came into being following the realisation that economic development and environment are closely linked, even though it was popularised by the report of the Brundtland Commission, which the United <span style="letter-spacing: -0.3pt;">Nations General Assembly assigned to serve as long-term environmental strategies for achieving sustainable development by the year 2000 and beyond (Boon, n. d.). <o:p></o:p></span></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify; text-indent: 18pt;"><span style="font-size: small;"><span style="color: black; font-family: "Calibri","sans-serif"; letter-spacing: -0.3pt; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;">The understanding that sustainable development encompasses a number of areas is very true (political and moral inclusive) but the three most essential elements are: economic, environmental, and social equity; and hence they are often referred to as the Sustainable Development Triangle (Daud and Nor Azam, 2011). Economic</span><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"> sustainability has to do with sound macro-economic management, poverty alleviating growth, appropriate agricultural policies, role of the state, and cost internalisation. Sustainable social development is concerned with equity in the distribution of wealth, resources and opportunity to all citizens at all levels and it implies amongst other things access to minimum standards of security, human rights, social benefits including food, health, education, shelter and opportunities for self-development. Environmental sustainability on the other hand deals with environmental <span style="letter-spacing: -0.2pt;">protection and thus it requires the use of environmental goods and services in such a way that their productive capacity are not reduced, nor their overall contribution to human well-being diminished (Ite, 2003). For the purpose of this work all three dimensions are relevant but</span> emphasis will be given on economic sustainability. <o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify; text-indent: 18pt;"><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 14pt; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Theories of Trade <o:p></o:p></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The Classical Trade Theory<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">According to the classical trade theory, countries are better able to gain and sustain development if each devotes resources to the generation of goods and services in which they have an economic advantage (Smith, 1776; Ricardo, 1817 cited in Morgan and Katsikeas, 1997). The theory thus explains the scenario where a country generates goods and services in which it has an advantage not only for domestic consumption but also exports (the surplus) and imports those goods and services in which they have an economic disadvantage. Economic advantages and disadvantages usually arise from country differences in factors such as resource endowments, labour, capital, technology or entrepreneurship. The classical trade theory, therefore, contends that the basis for international trade and sustainable development can be traced to differences in production characteristics and resource endowments which are founded on domestic differences in natural and acquired economic advantages (Morgan and Katsikeas, 1997). Specifically, the theory was based on the principles of comparative cost advantage and specialisation, which lead to gains for the trading partners (Umo, 2007). One of the weaknesses of this trade theory is that investment resources are not internationally mobile, i.e. only commodities can move and investment decisions are taken on a national basis (Caballero et al., n. d.). In today’s world, capital is highly mobile across national boundaries, and likewise technology (Caballero et al., n. d.).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The Factor Proportion Theory<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The factor proportion theory on the other hand is able to give an explanation for difference in advantage exhibited by trading countries. As explained by the theory, countries tend to generate and export goods and services that harness large amounts of abundant production factors that they possess, while they import those that need large amounts of production factors which are relatively scarce (Heckcher and Ohlin, 1933 cited in Morgan and Katsikeas, 1997). The theory explains the concept of economic advantage in the context of endowment and costs of factors of production.<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The Product Life Cycle Theory<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The Product Life Cycle Theory was developed in line with some developments to do with the changing commercial realities like the role played by technological progress and multinational enterprises in trade and sustainable development of their home countries. The theory suggests that a trade cycle emerges where a product is produced by a parent firm, then by its foreign subsidiaries and finally anywhere in the world where costs are at their lowest possible (Vernon, 1966, 1971; Wells, 1968, 1969 Morgan and Katsikeas, 1997). It also explains how a product may emerge as a country’s export and work through the life cycle to ultimately become an import (Morgan and Katsikeas, 1997). According to the theory, technological innovation and market size are very critical for gaining in international trade and of course sustainable development.<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 14pt; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Trade Theories and the Challenges of Sustainable Development in Nigeria <o:p></o:p></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Virtually, nothing is properly working in Nigeria and likewise the doctrines of trade theories are not much respected in the country. The classical trade theory for instance, had emphasised on <span style="letter-spacing: -0.3pt;">achieving sustainable development through international trade on the basis of comparative</span> economic advantages and disadvantages. Using the doctrines of this trade theory, Nigeria was supposed to specialise in agriculture, especially considering her enormous uncultivated arable land and abundant labour resources. Unfortunately, since the oil price boom of the early 1970s, the country abandoned the agricultural and industrial sectors of the economy<b>. </b>Both the public and private sectors of the economy concentrate their efforts in the oil and gas industry to the extent that <span style="letter-spacing: -0.2pt;">the mainstream economy is denied funding, requisite investment and even managerial capabilities. Thus, the mainstream economy has become uncompetitive globally while the country has turned into a trading outpost for foreign companies (Sanusi, 2010). The petroleum</span> industry in Nigeria is characterised by wastage, corruption, low productivity and unchecked dominance of foreign multinationals (Hassan et al., 2002). The country has been relegated to a mono-product economy with the bulk of government revenue coming from oil exports which is susceptible to shocks in the international oil market. Moreover, many other solid minerals with which the country is richly endowed with remain generally untapped. More fundamentally, the economy has dis-proportionately relied on the primary sector (subsistence <span style="letter-spacing: -0.2pt;">agriculture and the extractive industry) without any meaningful value addition. In light of this, the little growth recorded in the economy, thus far, has been without commensurate employment, positive</span> attitudinal change, value re-orientation, and equitable income distribution, among others. <o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 18.0pt; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;"><span style="mso-tab-count: 1;"> </span>Coming to the factor proportion theory, Nigerian had over the years massively been spending on the importation of technologically related items mostly from Western Europe, even though the country was not seriously exporting agricultural produce. An examination of the Nigeria’s import profile during the period from 1980-1985 for instance disclosed that the import category of machinery and equipment alone accounted for almost 40% of the country’s imports every year during the period. The introduction of SAP did change the situation as in 1990 for example; $2,755 million (89.8%) of the $3, 067 million of the country’s foreign exchange earnings was allocated to machinery, spare parts and raw materials. The figure went even higher in 1991 when it was increased to $3,344 million (93.3%) of the $3, 584.1 million totals, all in the name of industrialisation through technology transfer (Ogbimi, n. d.).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify; text-indent: 18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">As a technologically weak and backward country, the product life cycle theory is to some extent not relevant for Nigeria, even though the country used to be leading exporter of rice in the 60s but now turned to be a major importer of same rice. For example, the year 2008 ended in Nigeria with the massive importation of rice and grains into the country worth <s style="text-line-through: double;">N</s> 80 billion (Ikeokwu, 2008).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Nigeria is also unable to achieve sustainable development through international trade due to factors such as poor policy and hostile external environment, lack of good governance, corruption, poverty, insecurity, poor human capital and infrastructural development amongst others. Some of these are discussed below:<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Corruption<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span style="font-size: small;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-weight: bold; mso-themecolor: text1;">Corruption is a daunting obstacle to sustainable development as it adversely affects not only international trade but also education, healthcare and poverty alleviation. The 2004 Corruption Perceptions index by Transparency International (TI) ranked the country as the third most corrupt country in the world, against its second position in 2003 (Dike, 2008). </span><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;">A World Bank estimate has indicated that 80% of energy revenues benefit only 1% of the Nigerian population, owing to massive corruption in the country (Odularu, 2007).<span style="mso-bidi-font-weight: bold;"> The oil funds from the removal of oil subsidy are unlikely to bring sustainable development for Nigeria owing to massive corruption created by lack of accountability, respect for rule of law and check and balance in the country. Similarly, the alleged corruption case against Senator Faruk Lawal – a Chairman to the investigation of squandered oil subsidy money is a clear testimony to establish how corrupt the country is. </span>Thus, corruption serves as a clog in the wheel of economic growth by limiting the pace, reducing the amount of public resources, discouraging private investment and savings and it further impedes the efficiency use of foreign aid. Similarly, corruption is a growth retarding factor in any economy because resources which should be utilised for development are stolen and diverted to non-growth promoting activities like acquisition of luxurious goods, investment in other economies, promotion of conflicts, etc. More so, a number of studies have shown that corruption affects sustainable development directly and indirectly through both <span style="letter-spacing: -0.2pt;">domestic and foreign investments as well as low productivity.<span style="mso-bidi-font-weight: bold;"><o:p></o:p></span></span></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; tab-stops: 18.0pt; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;"><span style="mso-tab-count: 1;"> </span>Combating corruption however, requires international cooperation involving foreign governments, foreign banks and foreign financial supervisory and regulatory institutions, which also is not forthcoming (Daud and Nor Azam, 2011).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Poor Infrastructural Development<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Another major sustainable development challenge facing Nigeria through international trade is the poor state of infrastructures. Foreign aid can have beneficial effects on the economies of recipient countries when it helps in the development of social and physical infrastructures, thereby boosting employment and enhancing productivity (Daud and Nor Azam, 2011).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Bad Governance<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Trade offers opportunities for the poor and food security by creating a condition, which raises their incomes and lives, opening small farmers to international competition which can also undermine the agricultural sector with long term negative effects for poverty and hunger (Pingali et al., 2006). The process of the international trade between Nigeria and the West has largely created an opportunity for the International Financial Institutions (IFIs) and the West to exploit and force the country to debt crisis. Similarly, the process was used to create stolen wealth for Nigerians, by the IFIs and the West at the detriment of Nigeria (AFRODAD, 2007 cited in Ikejiaku, 2008). This is not surprising as Multinationals have taken advantage of trade to exploit the country through dumping and over-invoicing (Ogbimi, n. d.). The activities of transnational corporations have increased the level of environmental gradation in Nigeria (Ite, 2003). This is evident in terms of water, air and land pollutions owing to their hazardous and <span style="letter-spacing: -0.3pt;">selfish operations. Although good governance is at the centre of sustainable development and poverty alleviation, same is lacking in Nigeria. There is absence of rule of law and transparency, responsiveness, participation, equity, and accountability are denied by bad governance. In this situation we cannot expect international trade to serve as an engine of sustainable development for the country. There is no doubt that among the major manifestations of poor governance and</span> deficient leadership is misplaced policies and priorities, which have almost become permanent features of the country (Daud and Nor Azam, 2011).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Poor Technological and Educational Development<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Nigeria has implemented SAP for decades now, but none of the objectives has been achieved so far via the chosen programme instrument (Ogbimi, n. d.). International trade is supposed to make a decisive contribution to sustainable development by way of equitable integration of Nigeria into the global economy (Ahmed, 2006). The western induced policies like SAP and their existing conditionalities particularly the removal of oil subsidy have failed and could not bring sustainable development for the country. Sustainable development is usually achieved through appropriate technological development as supported by product life cycle theory. On the other hand, technological development is realised through learning and acquiring new knowledge, skills and capabilities (Ogbimi, n. d.). Human capital development (HCD) means the training and retraining which the workforce receives to become more competent and suitable to contribute positively and purposefully to sustainable development. Thus, he opines that human capital investment is an inevitable component of the development process, which must be given topmost priority (Daud and Nor Azam, 2011). Part of the reasons why Nigeria has failed to attain sustainable development is related to the poor state of its educational institutions. Unfortunately, investment in human capital is a critical area Nigeria has neglected for too long now (Dike, 2008).<span style="mso-spacerun: yes;"> </span>In Nigeria for instance, few people possess the necessary knowledge and skills in the productive sector and due to the mismatch between education and productive training; the country is for long experiencing mass unemployment (Ogbimi, n. d.). It is sad to note that at 50 years of independence Nigeria is not even near achieving sustainable development despite her vision 20, 2020 (Abdullahi <i style="mso-bidi-font-style: normal;">et al</i>., 2012).<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Poverty<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The incidence of poverty has been high and on the increase in Nigeria since 1980. Data from the Federal Office of Statistics (FOS) on poverty profile in Nigeria showed that the incidence of poverty rose from 28.1% in 1980 to 43.6% in 1985, but dropped slightly to 42.7% in 1992 from where it rose sharply to 65.6% in 1996 and steadily rose to 70.2% in 2003 (Chinedu et al., 2010). There is a saying that a poor man is a hungry man and a hungry man is an angry man, hence poverty tends Nigerians to become aggressive. Today, widespread of conflicts, kidnapping and hostage among others are not only gradually becoming common but also threatening international businesses and sustainable development in Nigeria (Oritsejafor, n. d.). <o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 14pt; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Conclusion and Recommendations</span></b><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><o:p></o:p></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Conclusion <o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt; text-align: justify;"><br />
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<div class="Default" style="margin: 1em 0px; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">From the foregoing explanations, the work has concluded that Nigeria has been unable to attain sustainable development through international trade owing to obvious violation of trade doctrines particularly specialisation based on factor proportion and endowment.<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="Default" style="margin: 1em 0px; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">Recommendations<o:p></o:p></span></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="Default" style="margin: 1em 0px; text-align: justify;"><span style="color: black; font-family: "Calibri","sans-serif"; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><span style="font-size: small;">The work thus recommended that Nigeria should give more emphasis to specialisation on agriculture so as to diversify her production and export base in order to enable the country gain all the benefits of trade including sustainable development. This would go a long way in harnessing the Nigeria’s abundant land and labour resources, which in turn would help in reducing present unemployment and poverty crises in the country. Similarly, government <span style="letter-spacing: -0.3pt;">should take serious measures with a view to overcoming the trade related challenges of sustainable development identified by the study</span>.<o:p></o:p></span></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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</div><span style="font-family: Times New Roman; font-size: small;"> </span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 12pt; mso-ansi-language: EN-US; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-US; mso-themecolor: text1;"><br clear="all" style="page-break-before: always;" /> </span></b><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 156.0pt;"><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 14pt; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">References</span></b><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Calibri","sans-serif"; font-variant: small-caps; mso-bidi-font-family: "Times New Roman"; mso-themecolor: text1;"><o:p></o:p></span></b></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Abdullahi, H., Abdullahi, Y. Z., and Bello, A. A. (2012). “Nigeria at 50 years and the Achievement of Sustainable Economic Development through Vision 20-2020: Myth or Reality?, Paper Presented at the Annual Conference of the Faculty of Social Sciences, UDUS, on <i style="mso-bidi-font-style: normal;">50 years of Nigeria’s Nationhood: Issues and Challenges for Sustainable Development,</i> at Sokoto Energy Research Centre (SERC)<i style="mso-bidi-font-style: normal;"> </i>Auditorium, UDUS, 16<sup>th</sup> – 18<sup>th</sup> April, 18 pages.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">African Forum and Network on Debt and Development. (2007). Nigeria: Foreign Debts, Stolen Wealth, IFIs and the West, A Case Study: AFRODAD.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Ahmed, M. S. (2006). “Is Globalisation Capable of Raising Living Standard through International Trade in Nigeria?”, htt://www.hollerafrica.com/showArticle.php?artId=143&catId=2&page=1. <o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Boon, E. K. (n.d.). “An Overview of Sustainable Development in Africa”, <i style="mso-bidi-font-style: normal;">Regional Sustainable Development Review</i>, Vol. 1.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Caballero, J. M., Quieti, M. G., and Maetz,<span style="mso-spacerun: yes;"> </span>M. (n. d.). “International Trade: Some Basic Theories and Concepts”, </span><span style="color: black; mso-themecolor: text1;"><a href="http://www.fao.org/docrep/003/x7352e/x7352e02.htm"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">http://www.fao.org/docrep/003/x7352e/x7352e02.htm</span></a><span style="font-family: Times New Roman; font-size: small;">.</span></span><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;"> <o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Chinedu, E. A., Tinus, O. C. and Thaddeus, E. O. (2010), “Achieving Vision 2020 in Nigeria: A Review of the Economic and Market Oriented Business Reforms”, <i style="mso-bidi-font-style: normal;">Journal of Sustainable Development in Africa</i>, Vol. 12, No. 4.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Coutts, K. and Godley, W. (1992), “Does Britain’s balance of payments matter any more?”, in Michie, J. (Ed.), <i style="mso-bidi-font-style: normal;">The Economic Legacy 1979-1992</i>, Academic Press, London, pp.60-67.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;"><span style="mso-spacerun: yes;"> </span>Daud, M. and Nor Azam, A. (March, 2011). “Islamic Development Bank (IDB), Foreign Aid and the Challenges for Sustainable Development in Africa”, <i style="mso-bidi-font-style: normal;">International Journal of Business and Social Science</i>, Vol. 2, No. 4, USA, </span><span style="color: black; mso-themecolor: text1;"><a href="http://www.ijbssnet.com/"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">www.ijbssnet.com</span></a></span><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;"><o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Dike, V. E. (2008). “Why has Nigeria Failed to Develop?”, htt://www.nigeriavillagesquare.com/articles/victor-dike/why-has-nigeria-failed-to-develop…<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Ekpe, A. E. (2011). “Poverty Alleviation in Nigeria through Capitalism Economic Framework: Problems and Challenges”, <i style="mso-bidi-font-style: normal;">Journal of Sustainable Development in Africa</i>, Vol. 13, No. 2.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Feridun, M. and Akindele, S. T. (January, 2005). <i style="mso-bidi-font-style: normal;">Nigerian Economy: Essays on Economic Development</i>, 1<sup>st</sup> Edition. Morrisville, North Carolina, USA: Lulu Press Inc.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Hassan, C., Olawoye, J. and Nnadozie, K. (September, 2002). “Impact of International Trade and Multinational Corporations on the Environment and Sustainable Livelihoods of Rural Women in Akwa-Ibom State”, Niger-Delta Region, Nigeria.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">McCombie, J. S. L. and Thirlwall, A. (1992), “The re-emergence of the balance of payments constraint”, in Michie, J. (Ed.), <i style="mso-bidi-font-style: normal;">The Economic Legacy 1979-1982</i>, Academic Press, London, pp.678-688.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Morgan, R. and Katsikeas, C. S. (1997). “Theories of International Trade, Foreign Direct Investment and Firm Internationalisation: A Critique, <i style="mso-bidi-font-style: normal;">Management Decision</i>, pp. 68 - 78 Cardiff Business School, University of Wales, UK. MCB University Press.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Odularu, G. O. (2007). “Crude Oil and the Nigerian Economic Performance”, <i style="mso-bidi-font-style: normal;">Oil and Gas Business</i>, </span><span style="color: black; mso-themecolor: text1;"><a href="http://www.ogbus.ru/eng/"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">www.ogbus.ru/eng/</span></a></span><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;"> <o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Ogbimi, F. E. (n.d.). “Structural Adjustment is the Wrong Policy”, </span><span style="color: black; mso-themecolor: text1;"><a href="http://web.mit.edu/africantech/www/articles/PlannningAdjust.htm"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">http://web.mit.edu/africantech/www/articles/PlannningAdjust.htm</span></a></span><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;"> <o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Oritsejafor, E. O. (n. d.). “Development in Nigeria: A Political and Economic Challenge”, <i style="mso-bidi-font-style: normal;">Research Effort</i>.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; letter-spacing: -0.2pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Sanusi, S.L. (November, 2010). “Growth Prospects for the Nigerian Economy”, Convocation Lecture Delivered at the Igbinedion University Eighth Convocation Ceremony</span><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">, Okada, Edo State.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Smith, A. (1776), An Inquiry into the Nature and Causes of the Wealth of Nations, edited by E. Cannan (1961) and reprinted by Methuen, London.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Umo, J. U. (2007). “Gains from International Trade” in <i style="mso-bidi-font-style: normal;">Economics: An African Perspective</i>, Second Edition. Plot 6B, Block 22, Humanities Road, Unilag Estate, Magodo, Isheri, Lagos, Nigeria: Millennium Text Publishers Limited,.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Vernon, R. (1966), “International Investment and International Trade in the Product cycle”, <i style="mso-bidi-font-style: normal;">Quarterly Journal of Economics</i>, May, pp.190-207.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
<div class="MsoNormal" style="margin: 0cm 0cm 6pt 18pt; text-align: justify; text-indent: -18pt;"><span style="color: black; font-family: "Calibri","sans-serif"; font-size: 11pt; mso-bidi-font-family: "Times New Roman"; mso-bidi-font-size: 12.0pt; mso-themecolor: text1;">Wells, L. T. (1968), “A Product life cycle for International Trade?”, <i style="mso-bidi-font-style: normal;">Journal of Marketing</i>, Vol. 33, July, pp.1-6.<o:p></o:p></span></div><span style="font-family: Times New Roman; font-size: small;"> </span><br />
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</div><span style="font-family: Times New Roman; font-size: small;"> </span>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-11711267425285008072011-02-28T13:29:00.001-08:002011-02-28T13:32:30.854-08:00My interview with Daily Trust Newspaper on the Recent Recommendation by the International Monetary Fund to Devalue the Nigerian Naira<div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;"><span style="font-family: 'Times New Roman','serif'; font-size: 14pt;">Dr. Mustapha Muktar</span></div><div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;"><span style="font-family: 'Times New Roman','serif'; font-size: 14pt;">Department of Economics </span></div><div class="MsoNoSpacing" style="margin: 0cm 0cm 0pt;"><span style="font-family: 'Times New Roman','serif'; font-size: 14pt;">Bayero University, Kano</span><br />
28/2/2011</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;">The IMF had in its 2010 article IV constitution with Nigeria released last week noted that the Naira was currently overvalued and advised the CBN to devalue it. Devaluation of currency is the decision of a government to reduce the </span><a href="http://financial-dictionary.thefreedictionary.com/value"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"><span style="color: blue;">value</span></span></a><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"> of its own </span><a href="http://financial-dictionary.thefreedictionary.com/Currency"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"><span style="color: blue;">currency</span></span></a><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"> vis a vis other currencies. Devaluation occurs exclusively in fixed currencies, when the currency in question is pegged to another currency. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;">Governments devalue their own currencies to make their </span><a href="http://financial-dictionary.thefreedictionary.com/Exports"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"><span style="color: blue;">exports</span></span></a><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"> less </span><a href="http://financial-dictionary.thefreedictionary.com/Expensive"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"><span style="color: blue;">expensive</span></span></a><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"> in foreign </span><a href="http://financial-dictionary.thefreedictionary.com/Market"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"><span style="color: blue;">markets</span></span></a><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;">. For example if a company exports its products for the same price in the local (devalued) currency, it is cheaper for consumers to </span><a href="http://financial-dictionary.thefreedictionary.com/Buy"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"><span style="color: blue;">buy</span></span></a><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"> those products in their own currency. However Countries devalue their currencies only when they have no other way to correct their economic problems.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">The ills of devaluation are in most cases more than its advantages. Crictically, devaluation does encourage exports and discourage imports to some extents and for a limited period of time. Devaluation is mostly manifested in a higher inflation, </span><span lang="NL" style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%; mso-ansi-language: NL; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">promotion of importation of finished goods, including substandard products, leading to the unfortunate winding up of local/indigenous industries country-wide,</span><span lang="NL" style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;"> </span><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;">rise in energy costs, increased cost of fund and a reduction in welfare </span><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">especially in an import<span style="mso-spacerun: yes;"> </span>dependent country like Nigeria.</span><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;"><span lang="NL" style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%; mso-ansi-language: NL;">It could be recalled that Since the 1980s, the devaluation of the Nigerian currency has never augured well with the country and its people. One of IMFs conditionalties is usually the devaluation of a loan applicant country’s currency in order for them to be granted such loan.</span><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"></span></div><h2 style="line-height: 150%; margin: 10pt 0cm 0pt; text-align: justify;"><span style="color: windowtext; font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;"></span></h2><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 10pt; text-align: justify;"><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;">If the Naira is devalued, Nigerians will lose their international buying power. Their ability to purchase goods or services from other countries will also diminish. The overall implication is that, government will be forced to purchase the Naira with foreign reserves, and hence undermining our country’s ability to service debts. This occurred in Russia after its 1998 currency crises. Currently</span><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;"> the exchange rate is about N157 to US1. Based on current development in some of the Nigeria’s macroeconomic indicators where by the oil price is moving up and the rate of growth of real gross domestic product is encouraging the central Bank of Nigeria is supposed to </span><span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%;">REVALUE the Naira so as to lower inflation, and at the same time attract foreign Direct Investment, investors and trading partners. There is also the need for strengthening an effective monetary tightening to further suppress inflation pressures. </span><span lang="NL" style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 150%; mso-ansi-language: NL; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">The government should also improve the the enabling environment by making sure that the basic socio-economic infrastructures, especially energy, water, roads and security are guaranteed in thecountry <br style="mso-special-character: line-break;" /></span></div><div class="MsoNormal" style="background: white; line-height: 150%; margin: 0cm 0cm 3.05pt; text-align: justify;"><br />
</div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-8744242213016265502011-01-31T13:23:00.000-08:002011-01-31T13:38:10.617-08:00The Youth and Waste Scavenging in Kano State, Nigeria: Implications For Socioeconomic And Health Hazards<h2> (a modified version of my paper on "The Economics of Waste Scavenging in Kano)</h2><div align="left">Mustapha Muktar,Ph.D<br />
Department of Economics,<br />
Bayero University<br />
PMB 3011, <br />
Kano, Nigeria</div><br />
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<span style="font-family: Verdana; font-size: medium;"></span><br />
<div align="left"><span style="font-family: Verdana; font-size: x-small;"> Scavengers are not refuse workers and they are not concerned with waste management, they enter into trade for socioeconomic reasons, and their relationship with waste is as a resource, they only collect those materials for which there is market. Scavenging is a reality in almost all cities of developing countries and in many wealthy nations as well. <br />
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In Nigeria, like other developing countries, Scavenging among youths begin with the collection of plastic bags, bottles, papers, cardboards and cans, and it mostly takes place in the informal sector. Scavengers provide informal collection, recovering additional materials at the curve, dumps and landfills.<br />
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In Kano state, the realization of very large dumps of waste tend to attract local scavengers called “Baban Bola” . These scavengers play an important role in the process of waste recycling. They sort out the useful materials like paper, aluminum, glass etc and sell them to the recycling industries. Unemployed youths engage in activities that earn income for their survival and that of their families. Youths have now begun to ravage the dustbin, courtesy of the economic downstream of the country, they've certainly begun to earn their means of livelihood from the dustbin. In the past, youths were assumed to be leaders of tomorrow and they are still considered to be future leaders, but the uncompromising stance of the economy and government's unfavorable policies towards youths have compelled them to scavenge refuse dumps with the hope of finding scraps of metals, aluminum, rubber and plastics which they could fabricate or sell out in order for them to make ends meet and also to enhance their relevance in the society. It has become a common scene in Kano state to see youth carrying sacks and sticks while they roam garbage dumps. They use sticks for scavenging for any hidden treasure beneath trashes, and any identified material despite its dirt, was quickly stored away in their sacks. Youths who have been scavenging refuse dumps for long, claimed ownership of specific refuse dumps especially those located in highbrow areas, thereby preventing others from trespassing into their territories, while at certain circumstances one sees some of them engaged in waste scavenging over legitimate ownership of a particular piece of broken plastic bowl. <br />
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The preoccupations of government on environmental policies are in the areas of environmental sanitation, degradation and pollution control. Hence, one can see that there is no linkage between government formulated policies on environment and the activities of waste scavengers. Government has failed to recognize and formalize scavenging, despite its importance in terms of job creation and income generation to a large number of youths. The article therefore, explores the socioeconomic implications of waste scavenging among youth, with special reference to Kano state. </span><b><span style="font-family: Verdana; font-size: medium;"></span></b><span style="font-family: Verdana; font-size: x-small;">The picture of scavenging that emerges from reviewing literature is that of an occupation that provides a livelihood for the poor. Scavenging is an important survival strategy in which impoverished individuals coped with scarcity. Scavengers typically specialize in recovering only one or a few types of materials from waste. To Medina (1997), Scavenging takes place in all stages along the waste management system that is; source separation at household or place generating waste material; here materials are reused, sold or given away, for example, old newspapers are used for packing. During collection, scavengers sort out recyclables for sale. Scavengers also retrieve recyclables at dumps, on the streets or public places, in canals and rivers, at landfills prior to burial and purchased source of separated recyclables from residents. Scavenging is ubiquitous occurrence throughout the developing world. The World Bank has estimated that up to 2% of the population in third world countries survive by recovering materials from waste. Scavengers salvage materials to sell for recycling, as well as repairable and re-usable items that can sell or use themselves. The recovery of materials from waste by scavengers in developing countries takes place in a wide variety of settings; although the circumstances in which materials are recovered in a particular place may be unique. It is obvious that scavengers source their materials from two major ways that is either sorting or collecting freely from dumps and landfills, or by buying the already sorted materials from households.<br />
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Poverty is prevalent in most developing countries and this forces the poor to make the most of the resources available to them. Given their very low incomes, scavenging provides them with reusable and sellable materials. In doing so, the poor have developed creative ways in order to satisfy their needs, including the recovery of items not necessarily part of the waste stream: In Mali, many farmers search and dig artifacts produced by ancient Mali Empire in order to sell them to art collectors (Brentt, 1994; French, 1995). In Calcutta, scavengers work along the rail road tracks in order to recover the pieces of coal that fall from the train (Lapierre, 1985). In Cairo, scavengers search ox dung for undigested kernels of corn to eat ( Linden , 1993). In Vietnam scavengers dig on agricultural fields and jungles, searching for scrap metal left over from the war (Donohue, 1994). <br />
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<div align="left"><span style="font-family: Verdana; font-size: x-small;">The following features can be generalized for scavengers;<br />
Scavengers are poor relatives to the rest of the society, their incomes are low, scavenging is an informal activity and labor intensive in nature. It can render economic and social benefits (such as; work for the unemployed youths, raw materials for industry etc), on the other hand scavenging generates cost to society such as high health risk associated with the type of labor. Scavenging supplies raw materials largely to either artisans or industries. In dumpsites located near agricultural areas, scavengers recover organic materials to be used as fertilizers as well as food for goats and pigs ( Medina , 1997)</span><b><span style="font-family: Arial;">Socioeconomic impacts</span></b><span style="font-family: Verdana; font-size: x-small;">Scavenging contributes to reduction of the amount of solid waste to be disposed and also helps to save the natural resources that leads to sustainable development. It creates jobs and extra income for people especially the poor. Scavenging encourages family members to sort out materials from wastes in exchange for money. It supplies raw materials for a lot of recycling enterprises and this creates more jobs for people especially the youths who dominate the profession. Scavenging renders economic and environmental benefits, such as providing income to unemployed individuals, supplying inexpensive raw materials to industries, reducing the demand for collection, transportation and disposal of waste. Further, material recycling has a lower environmental impact that is accelerated by scavengers. Diaz (2000) argued that Scavenging is a process that is well practiced in developing countries, in fact scavenging is a source of employment, that attempts made to abolish the practice in some cities have been met with strong resistance. Scavengers roam the streets looking for items that can be reused; other scavengers conduct their activities at disposal sites. Generally scavengers have an agreement with a middle man, and the middleman is an individual who has contract with end users, who can process, prepare and sell the quantities of materials desired by users and he provides the scavengers with compensation and in some cases a collection vehicle (e.g. a cart). The families and social background of scavengers are such that scavenging is the only option available to them to earn a living. In most developing countries, scavenging played important role on the economic survival of a number of industries (e.g. steel, pulp and paper). <br />
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Scavengers have contributed significantly towards the provision and separation of recyclables for the recycling industries; moreover, they are doing their activities in an informal setting. On the average scavengers that buy recyclables from households generate an income that is equivalent to 50% of the cost of purchase (e.g. for each recyclable they bought at N1.00, they would get 50k as profit), besides these scavengers have been responsible for the separation of waste materials and in some cases upgrading it through washing for the recycling industries. <br />
Youth scavengers in Kano state are not organized in any formal way, yet their contribution to economic growth is significant. The scavengers are of two types; the primary and secondary scavengers. The secondary scavenger gave the primary scavenger a token amount of money to buy recyclables from the neighboring areas and in return, the materials are weighed and priced accordingly. A kilogram of rubber shoes or plastic on the average costs N22 – N30, and the companies that recycle these materials include Balley plastic, and Standard plastic. On the average, a secondary scavenger employs 6 primary scavengers or more, by doing this, a lot of youths are employed by the profession. One of the problems facing scavengers is the fact that they do not receive any assistance from the government, and worst of all, the government levy heavy taxes on the secondary scavengers who are mostly salvage dealers. As long as poverty and garbage exist in combination, waste scavenging and recycling are likely to prevail and the reality of these system can be seen as basis for development. Birkbeck (1979) analyzed the labor relations of scavengers using the Marxist perspective. He described the situation in terms of self employed informal sector workers, who like factory laborers, engaged in piece work of which the surplus benefited the middlemen. The relationship between scavengers, the middlemen (salvage dealers) and factories can however, be characterized as patron – client relationship based on mutual trust and cemented by rather stable product delivery and money lending patterns. These relations reduce the vulnerability of the scavengers by guaranteeing a certain security of living, albeit at a low standard, as the middleman uses this dependence to fix prices of the recovered materials at very low levels. Because of this basic survival strategy, the scavenging system was describe by Singular (1992) as hunting and gathering societies, who survive under conditions of common source exploitation. They gather ‘ores’ and hunt for ‘valuables’ in the same way as hunters and gatherers use forests and planes. The exploitation of scavengers by middlemen occurs through market relations and not by means of employment relations as in a capitalist industrial setting. The informal production relations of scavengers are intertwined with the formal sector since they paid various types of taxes to government. </span><b><span style="font-family: Arial;">Health hazards</span></b><span style="font-family: Verdana; font-size: x-small;">Scavenging has some detrimental effects on the health of the scavengers, who suffer from eye irritation; respiratory diseases, with coughing, sneezing, etc.; skin diseases, especially scabies; minor injuries from stepping on broken bottles or sharp objects in the refuse; headaches from working in the sun; and backaches from bending down most of the time. Other infections associated with waste scavenging includes, skin and blood infections resulting from direct contact with waste and from infected wounds; eye and respiratory infections resulting from exposure to infected dust; zoonoses resulting from bites by wild or stray animals feeding on wastes; and enteric infections transmitted by flies on wastes, chronic diseases like respiratory diseases and cancers resulting from exposure to dust and hazardous compounds, accidental injuries that include skeletal disorders resulting from the handling of heavy containers, infected wounds from contact with sharp items; poisoning and chemical burns resulting from contact with small amounts of hazardous chemical waste mixed with general waste; burns and other injuries from occupational accidents at waste disposal sites or from methane-gas explosions at landfill sites.</span><span style="font-family: Arial;"><b>Waste scavenging in Kano state.</b></span><span style="font-family: Verdana; font-size: x-small;">Waste scavenging in Kano state represents an adaptive response to chronic poverty; however the benchmark appeared to be the structural adjustment programme (SAP), which imposed barn on the importation of some industrial inputs with the objective of making the economy diversified and self reliant. Waste scavenging in Kano state has contributed to the development of the informal sector by providing a labor-intensive, low technology and low paid activities. Scavenging has also rendered economic and environmental benefits such as work for unemployed individuals, supply of cheap raw materials to industries, reduction in the demand and cost of waste collection, transportation and disposal equipment facilities. Waste scavenging also evolves partly due to the prevalence of dump sites and some industries that utilize recyclables as part of their input requirements. <br />
Scavenging in Kano state is not equally divided between male and female youths; male youths have dominated the profession. Only few among the youth scavengers had some knowledge of formal education and they are in many cases primary school drop outs between classes 2 – 5. It is mainly practiced by those with no formal education. <br />
The various reasons that attracted the people to scavenging are due to income and employment it provides to them, as a result of poverty, while some are due to their low social status which includes lack of shelter, education orientation and parental care. Others are engaged in scavenging due to personal interest, by chance and some due to lack of career guidance. Majority of the youth scavengers lived with their families and contributed to household income. It was observed that young children usually accompanied their mothers from an early age. <br />
The major type of materials recovered by scavengers are plastics, metals, glass bottles and others. The materials categorized under others were identified to be old car batteries, used grain bags, papers, rags, wood, and so on. The source where the scavengers got these materials is mainly two; namely open dumps that are considered to be no man’s land and households. In case of materials from the households a token amount is given in exchange for recyclable materials, sometimes new plastic plate, matches box, are given to the household members in exchange. Most scavengers worked between the hours of 8am to 6pm (10 hours a day).<br />
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Salvage dealers are located at specific depots in Kofar Wambai, Sharada, Jakara, Dakata and Tudun Murtala areas all in Kano metropolis. Metals/Iron and Old car battery have a higher value and hence a higher earning potential. Soft drink bottles, though very heavy, have the lowest price. Plastics and used plastic gallons have moderate prices. The average quantity of waste materials collected by a scavenger in a day was estimated to be 15kg. The average daily income of a scavenger was estimated to be N400; it was observed by Muktar (2005) that male scavengers earn more than their female counterparts, and that in some cases scavengers recovered materials and used them for their personal use, these materials include fire wood and clothes. <br />
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A lot of factors have contributed in determining the income of youths in scavenging, and they include; hours of work, age of scavengers and the location of dumps. In higher income areas like the government reserve areas (GRA), scavengers found more useful materials in dumps, this is due to the fact that households located in higher income areas do not care to collect useful materials from their waste before discharge, by and large their consumption pattern and nature of the products consumed is another contributing factor. This suggests that scavenging is an unorganized activity that requires little or no skill. Attempt to find the total number of scavengers in Kano state was made by Abubakar (2005) who estimated that about two thousand or more youths are employed scavengers. The average monthly income of youth scavengers is estimated to be N12000. This monthly income is however above the minimum wage paid by the state civil service. Using the figure 2000 for the total youth scavengers in Kano state then, scavengers generate an annual income of 24million Naira.<br />
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One problem facing scavengers in the state is the issue of multiple taxes levied against them by both the local governments and the state Ministry of Environment. It was discovered that government officials harass scavengers and claim that they are responsible for littering areas. Taxes are levied directly on the salvage dealers. A salvage dealer was quoted to have said “imagine that they (Ministry of environment) are accusing us of littering the place with junks, where as we are the ones who are assisting them in reducing the massive mountains of refuse in the state (Abubakar, 2005). Due to the low bargaining power and the unorganized nature of scavenging, part or the entire tax burden is passed to the scavengers. <br />
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The health of scavengers is however vulnerable to diseases, as garbage dumps contain sharp objects like disposable syringes that were used on patients at home and discarded. This could easily harm any one that is not careful and result in contracting HIV/AIDS or hepatitis diseases depending on whom it was used for. Razor blades, broken bottles and pieces of metals found in garbage dumps may cause injuries that could also lead to tetanus diseases, which may even result in death. Other diseases which could also be contracted by scavengers include typhoid fever and cholera which may be transmitted to others, while animal and human faeces may cause intestinal worms to those infested. Most youth that engage in waste scavenging are drug addicts and one can see that they are visibly intoxicated, hence they need some counseling. Most of these youths should have been in school rather than collecting refuse in that hour when their colleagues are in school learning. </span></div><div align="left"><span style="font-family: Verdana; font-size: x-small;"><br />
</span><b><span style="font-family: Verdana; font-size: medium;"></span></b><span style="font-family: Verdana; font-size: x-small;"></span><br />
<div align="left">One major problem facing scavengers is the informality of their profession and lack of bargaining power. It is recommended that scavengers should form cooperatives so that they can pool their efforts and resources together and bargain collectively, Government and non governmental organizations should therefore; enlighten them through seminars, and campaigns. The campaigns should include education and information. Local politicians, policy makers and educational institutions should be the facilitators of these programmes.<br />
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Kano state government should train the youth scavengers on how to go about their business in a way that maximizes profit. Attached to this point is the need for the state government to encourage scavenging and make the profession less vulnerable and more efficient, this can take the form of provision of necessary working equipments like hand globes, boots, wheel barrows and capital. The scavengers should receive basic health training (first aid) to learn how to take care of themselves in case of any minor injury. They should also be trained to wear a type of uniform, such as overalls, jungle boots, gloves, helmets, and nose masks, which would further enhance their dignity and health status.</div></div><h3 align="left">Conclusion</h3><div align="left">Waste scavenging among youth arises mainly due to the existence of waste dumps and recycling enterprises on one hand, and the income earned as well as poverty on the other hand. Scavenging as an informal activity has employed a number of youths. The average monthly income earned by a scavenger in Kano , is found to be above the minimum wage paid by Kano state government. The number of children below the age of 15 working as scavengers can be seen as child labor, though poverty is what necessitates them to be engaged. Scavengers have faced problems of informality and vulnerability to diseases, hence they need government assistance.</div><div align="left"></div><div align="left"></div><br />
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<h3 align="left">Recommendations</h3><div align="left">One major problem facing scavengers is the informality of their profession and lack of bargaining power. It is recommended that scavengers should form cooperatives so that they can pool their efforts and resources together and bargain collectively, Government and non governmental organizations should therefore; enlighten them through seminars, and campaigns. The campaigns should include education and information. Local politicians, policy makers and educational institutions should be the facilitators of these programmes.<br />
<br />
Kano state government should train the youth scavengers on how to go about their business in a way that maximizes profit. Attached to this point is the need for the state government to encourage scavenging and make the profession less vulnerable and more efficient, this can take the form of provision of necessary working equipments like hand globes, boots, wheel barrows and capital. The scavengers should receive basic health training (first aid) to learn how to take care of themselves in case of any minor injury. They should also be trained to wear a type of uniform, such as overalls, jungle boots, gloves, helmets, and nose masks, which would further enhance their dignity and health status.</div></div><h3 align="left">Waste Scavenging.</h3><div align="left"></div><br />
<div align="center"><blockquote><div align="left"><b></b></div><h3 align="left">Introduction</h3></blockquote></div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-24722344448381735312011-01-30T12:36:00.000-08:002011-01-30T12:36:45.994-08:00NATURE AND CHARATERISTICS OF SCIENTIFIC APPROACH TO THE STUDY OF ECONOMICS<div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-family: 'Verdana','sans-serif'; font-size: 14pt; line-height: 150%;">MUSTAPHA MUKTAR, Ph.D</span></div><div align="center" class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">DEPARTMENT OF ECONOMICS</span></div><div align="center" class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">BAYERO UNIVERSITY KANO-NIGERIA</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">ABSTRACT</span></i></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">To Research is to search again, to take a more careful look, to find out more. Economics and other related social survey researches are scientific in nature bused on observation description, explanation and prediction of a given phenomenon with a view to testing it based on facts. Economic problems can be positive, normative or analytical, it can also be approached from inductive or deductive perspective. Other alternative methodology includes apriorism, falsificationism and conventionalism.</span></i></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">INTRODUCTION</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Research methodology may be defined as a description of explanation and justification of various methods of conducting researchers. The method may either be general techniques such as experiments and surveys or logical procedures such as formulating research problems. The methodology that is employed in the study of economics and other related social sciences such as other related social sciences such as psychology and sociology is scientific in nature, it is scientific because they are sciences, but not physical sciences (which need laboratories for controlled experiments).</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Sciences can be defined as a body of a systematized knowledge that involves observation, collection, densification and analysis of data with a view of matching evidence with theory. Science can also be seen as a strategy of explanation. Social scientists are explaining why events occur and why people behave as they do. In advancing explanations and description of events, scientists do three kinds of things they exercise imagination and creative insights, they perform logical analysis, and they make judgments that are based on<span style="mso-spacerun: yes;"> </span>observation of events that they wish to explain Selltiz (1976).</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Characteristics of scientific researches</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">The ultimate objective of science is to describe explain and predict, however all fields of science have in common the basic rules of evidence and logic. However the following are some of the characteristics of a scientific research.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Description</span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">- This attempt to answer the question of who, what, where, when or how much, it reports what happen, description is an indispensable part of science an usually precedes explanation and prediction.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Explanation:</span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;"> It attempts to answer why types of questions for example why is it that there exist high rate of crimes in urban areas than in rural areas? Providing answer to such kind of question needs scientific inquiry and methodology.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Prediction</span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">: This involves answering questions of what will occur in the future, so that forecast can be made in the above example a researcher may be interested in predicting the effect of high rate of crime on the welfare of the citizens as well as on the security of an area? Economist may also predict in circulation on the general prices of goods and services.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Observation</span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">: Observation makes description explanation, and forecasting possible. A phenomenon that is not observable is not amendable to scientific inquiry. An event have to be observed before the application of other scientific characteristics hence observation is the initial stage to any scientific research. Adam Smith observed than other countries of western Europe an that lead him to conduct a scientific research which was published as a book in 1776 titled “An inquiry into the nature and causes of wealth of natures. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Objectivity – </span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">This means that the claims of science can in principle be tested by any competent procedure, this means different competent people can test the scientific claims on neutral grounds. It should be noted that only claims open to repeatable <span style="mso-spacerun: yes;"> </span>public tests qualify as scientific.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Logical:</span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;"> Scientific researches are guided by the accepted rules of reasoning, such as the rules of definition, inductive and deductive reasoning, probability theory and other scientific rules.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Systematic</span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">: This means that scientific researches must be coherent and logically organized, such that they are open to modifications and falsification by new evidence. For example in the last 50 years block and white television set is a luxury but an inferior good hence its demand curve is different from the one when it was considered as a luxury.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Methodology in Economies</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Economies have been defined as a study of human behaviours in relation to allocation of resources so that a balance can be achieved between scarce resources and unlimited wants, it is a social science and therefore apply scientific methodology in the analysis. Economic problems can either be positive, normative or analytical. The identification of a problem is to be one of them is dependent of the goal of the researcher as well as the type of problem he is working with.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Positive Economic – Some economic problems are positive in nature and they involve “what was” positive statements are testable statements and they are otherwise known as empherical <span style="mso-spacerun: yes;"> </span>problems, they depends on the concept of emphericism (based on our senses of hearing, seeing, feeling and testing) they are the most reliable source of knowledge. Example the lower the price, the higher the quantity demanded statement can be tested by observing the behaviour of consumers under different prices of a given commodity. Another example of a positive statement is the lower the supplied to the market, all things being equal.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Normative statement on the other hand are statements which includes “what ought to be” they are not testable statements but depends on value judgment example between inflation and unemployment which one is a more serious social problems? Question of such nature depends on value judgment as different individuals may have a different perception on the problems are sometimes consistent with analytical problems. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Analytical problems are such problems that are guided by definitions; hence their judgment depends on the type of definition given example a researcher may categorize social problems as of two grades A and B and may rank A as most serious and dangerous while category B as less serious and dangerous. Now equipped with the above definition if for example unemployment falls in A while inflation in B (as defined by the researcher) than it is easy to judge which is more dangerous and exploitative. Economists also use the concept of dummy variables in quantitative analysis to categorize qualitative variables for judgement. For example a consumption function can be estimated in two periods of war and peace a dummy variable can be used and if it is a war period it takes a value of 0 and for peace period it is I hence the functions can be estimated below: -</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">C<span style="mso-tab-count: 1;"> </span>=<span style="mso-tab-count: 1;"> </span>b<sub>o</sub> + b<sub>i</sub>Y<span style="mso-spacerun: yes;"> </span>+ b<sub>2</sub><span style="mso-text-raise: -2.0pt; position: relative; top: 2pt;"><shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"> <stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype><shape id="_x0000_i1025" o:ole="" style="height: 12.75pt; width: 11.25pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><span style="mso-tab-count: 1;"> </span><span style="mso-text-raise: -2.0pt; position: relative; top: 2pt;"><shape id="_x0000_i1026" o:ole="" style="height: 12.75pt; width: 11.25pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><span style="mso-spacerun: yes;"> </span>= 0 during</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">War and <span style="mso-text-raise: -2.0pt; position: relative; top: 2pt;"><shape id="_x0000_i1027" o:ole="" style="height: 12.75pt; width: 11.25pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><span style="mso-spacerun: yes;"> </span>= 1 during peace</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">C = b<sub>o</sub> + b<sub>i</sub>Y<span style="mso-spacerun: yes;"> </span>+ b<sub>2 </sub><span style="mso-spacerun: yes;"> </span>peace time</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">C = b<sub>o</sub> + b<sub>i</sub>Y <span style="mso-tab-count: 2;"> </span>war time</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Scientific Reasoning Employed by Economics</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">The study of economics and other related social science are also based on inductive or deductive reasoning. Deductive reasoning as the name implied is a process where by researches start their reasoning from a generated statements so that conclusion can be made, example a researcher can observe “the law of demand that is “ceteris paribus. The lower the price the higher will be the quantity demanded of a commodity” he then collects data and analyze it to see whether it is true or false from there he can also move ahead to see whether the law applies to all types/classes of commodities.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Inductive reasoning is the name implied start from observation of a given phenomenon and arriving at a generalized stament or theory. An individual may be interested in the persistence of object poverty among households headed by women, after collecting necessary data and testing it accordingly the findings can be generalized to form a theory, otherwise it is rejected and more observations will continue. Other aspect of scientific reasoning that are employed by economics includes reorganizing a problem, defining a problem, development of hypothesis around the problem that has been experienced, the development of techniques as well as instruments of measurement and lastly drawing conclusions. It should be noted that where a hypothesis is tested and accepted then it becomes a theory otherwise. It is not and need to be re-formulated.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Latsis (1976) identified three alternative methodologies of economics as Apriorism, falsificationism and conventionalism. Aprriorism claims that the assumption of rationality is an absolute pre-requisite for describing and explaining human actions, and in particular economic actions. According to this approach the fundamental prepositions of economic science are “time” or “hold” independently of the vagaries of experience. The fundamental apriori category is that of purposeful action. Every attempt to prove them (the prori categories) must presuppose their validity. It is impossible to explain them to a being who does not possess them on his own account. Latsis (1976).</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Falsification is quite the opposite of apriorism. Its purpose is to expose maximally theories is logical possibility of empheircal counter-example. The criterion of goodness of a theory is a function of its falsification together with its success in withstanding attempts to falsify it. If, other things being equal, theory A is more falsifiable than theory B and have survived non trivial efforts to falsify it, then theory A better than theory B. Latsis (1976). The justification of this approach is due to the fact that knowledge is dynamic hence what is regarded as truth at one point in time may often be rejected at another point in time by new evidence or interpretation.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Conventionalism this was introduced to economics by Vilfredo Pareto in his (1909) book, he wrote: “The same facts may be explained by an infinity of theories equally true because they all reproduce facts to be explained…” More recently conventionalist methodologies of economics were put forward in 1940s and 50s by Machlup and Friedman. An example is that there exist various theories to welfare maximization ranging from the increase in GNP criterion, the Pareto second best criterion, the Jeremy Bethany’s criterion up to the compensation criterion each aimed at maximizing the total social welfare of a given society and each with its unique assumptions and approach.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">Conclusion</span></b><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt; line-height: 150%;">: The study of economics and other related social sciences such as psychology employed a scientific method of reasoning, which is systematic and based on facts. Scientific method is however subject to test before confirmation. The ability of a statement to resist forces of falsification makes it a theory, otherwise it is rejected.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">References</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">American Psychological Association (1973) “Ethical Issues in the conduct of research with human participants<span style="mso-spacerun: yes;"> </span><place w:st="on"><city w:st="on">Washington</city> <state w:st="on">DC</state></place>.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Garba G. (2000) “The leadings of Economics” NES, <city w:st="on"><place w:st="on">Ibadan</place></city>.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Howard K & Sharp J. A. (1983) The management of a student research project. Aldershout, Hauls Gower.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Idisi P. and Oshionebo B. (1998) Practical Guide to theses and project work. Kings and <place w:st="on">Queens</place> system ltd.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Iwayemi A. (2002) “Survey of recent developments in micro economics NES publication, <city w:st="on"><place w:st="on">Ibadan</place></city>.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Latsis S. (1976) (ED) Methods and appraisal in Economics. <place w:st="on"><placename w:st="on">Cambridge</placename> <placetype w:st="on">University</placetype></place> Press.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Muktar M. and Dandago K.I (2003) “Ethics in Accounting Research: The Nigerian Perspective” BUK.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Seiltiz C. and et. al (1976) Research methods in social relations 3<sup>rd</sup> ed. Holt-Saunders.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Garamond','serif'; font-size: 14pt;">Turubian L. K. (1973) A manual for writers of terms papers, these and dissertations fourth ed. <place w:st="on"><placetype w:st="on">University</placetype> of <placename w:st="on">Chicago</placename></place> press. </span></div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-23004579946137238692011-01-29T11:40:00.000-08:002011-01-29T11:40:35.165-08:00COMPUTABLE GENERAL EQUILIBRIUM MODELS: SOME POLICY DEDUCTIONS<div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Mustapha Muktar, Ph.D</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Department of Economics</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Bayero University, Kano-Nigeria</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Introduction</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">Equilibrium can be seen as a situation whereby the forces determining a state are in balance so that there is no tendency for the variables of a system to change. Equilibrium can either be static or dynamic. General equilibrium analysis was developed by French economist Kon Walras, and he developed a general equilibrium model based on interdependencies that exist in an Economy, since then a lot of general equilibrium models were developed and they include the Leontiet input-output model, Walras – Cassel model, Arrow- Debreu model, Zeutham model, John Von - Neumann model, Paratian general equilibrium model and etc. General equilibrium analysis is a disaggregative structure of macroeconomic theory, since all economic units are interdependent and an equilibrium point is revolved simultaneously by all.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">Computable general equilibrium (CGE) modeling is an attempt to use general equilibrium theory a san operational tool for emphatically oriented analyses of resources allocation issues in market economies (Bergam 2003). Following this the introduction paper is arrived at highling the concept of computable general equilibrium model and to appreciate the practical application of the models to economic analysis.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">Computable general equilibrium modeling general equilibrium refers to an analytic approach were an economy is regarded as a complete system of interdependent components (different market, industries, households and etc.) and all discussions are taken according to fully optimizing behaviour. Economic shocks affecting away one of these components may produce repercussions through out the whole system. Assessing the effects of the shocks can be means of simulation i.e. by measuring the repercussions that are triggered by shocking the system in various ways. The models are called “Computable” in the sense that they should produce numerical results that are applicable to particular situation in particular countries (Rumter 1999).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">C.G.E models are constructed in order to capture the multi sectoral nature of the chain reaction in the economy resulting from a change from the economy within the general equilibrium frame work, the repercussions in the economy are taking place through changed relative prices, to which agents adjust their production and consumption. A common feature of C.G.E models is that quantities and relative prices are endogenously determined within the model (Unemo 1993).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Computation of C.G.E. models.</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">There are two main ways of computing C.G.E. models, namely the non linear programming approach was not used widely, and it is based on the idea that the solution to a C.G.E. model can be deduced form the solution to an optimizing problem. Although this method has been applied successfully in solving C.G.E. models, the experience of most researchers in C.G.E. suggests that the derivative approach is more convenient and flexible, and therefore and more suitable for practical policy analysis and forecasting Rumter (1999).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">The derivative approach to solving C.G.E. models otherwise known as Johansen/Euler method was first used by Johansen in 1960 it involves restricting the model so that it is linear in its derivative and solving for perturbations of endogenous variables due to exogenous changes matrix inversion. However the development of piecewise linear approximations by <place w:st="on"><city w:st="on">Dixon</city></place> etal (1984) has come to be applied to models with non linear derivatives.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">To introduce the main idea of this method we have to consider a model in which equilibrium is described by a vector, V, of length n satisfying a system of equations of the form f (V) = 0.--------------------------------------------------------------- (1). </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">Where f is a vector function of length m we further assume that f (is twice continuously) differentiable and that the number of variables, n, exceeds the number equations, m, by (n-m), The components of vector V typically represent demand for and supply commodities or factors, policy variables, technological coefficients and other economic variables. The function f imposes relations such as demands equals supplies and prices equals costs, while preferences and technologies are represented by differentiable a utility and production functions in system (1) finally let’s assume that we know an initial solution to the model V<sup>1</sup>, which implies that we have known vector V<sup>1</sup> satisfying F (V<sup>1</sup>)= 0---------------------------------------------- (2).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><span lang="EN-US">Now re-writing equation (1) as F (V<sub>1</sub>,V<sub>2</sub>) = 0 ---------------------------------------- (3) The Euler method has been satisfied where V<sub>1</sub> is a vector of length m containing all endogenous variables and V<sub>2</sub> is the vector of length n – m of exogenous variables. By differentiation equation (3) totally the deviations dV<sub>1</sub> and dV<sub>2 </sub>from the known solution V<sub>1</sub> must, to an approximation, satisfy.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; tab-stops: 171.0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US"><span style="mso-tab-count: 2;"> </span>F<sub>1</sub>(V<sub>1</sub>)dV<sub>1</sub> + F<sub>2</sub> (V<sub>1</sub>)dV<sub>2</sub> = 0 -------------------------------------------------(4)</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Where F<sub>1</sub> and F<sub>2</sub> are matrices of partial derivations of F evaluated at V<sub>1</sub>, Now solving for the impact of movements in the exogenous variables, dV<sub>2</sub>, on the endogenous variables dV<sub>1</sub>, on the endogenous variables dV<sub>1</sub>, in the vicinity of V<sub>1</sub>, i.e. calculating a one-step Euler or Johansen approximation, gives</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US"><span style="mso-tab-count: 1;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify; text-indent: 36pt;"><span lang="EN-US">dV1 = B (V1)dV2------------------------------------------------------------(5)</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">where B(V<sup>1</sup>) = - F<sub>1</sub> <sup>-1</sup> (V<sup>1</sup>) F<sub>2</sub> (V<sub>1</sub>) -----------------------------------------------(6)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">provided that we can evaluate B (V<sup>1</sup>) which directly hinges on the inveritability or equivalency non- singularity of F<sub>1</sub> (V<sup>1</sup>)3. The MX (n -m) matrix B(V<sup>1</sup>) show the partial derivatives, evaluated at V<sup>1</sup>, of the endogenous variables V<sub>1</sub> with respect to the exogenous variable V<sub>2</sub>. In other words B(.) is the Jacobian matrix of the implicit solution function G<sup>4</sup>. Therefore for a given change in exogenous variables equation 5 provides only a first order approximation to the effects on the endogenous variables of the solution function G is highly non linear i.e. if the higher order terms in the associated Tailors series approximation are not negligible, then serious approximation errors may arise requiring further refinements to be done, one way out of this problem is to compute multi-step Johansen/Euler solutions.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Another computational approach regards the equilibrium condition of CGE models as simultaneous set of non-linear equations and solves such equations for the equilibrium values of the endogenous variables using a fixed point algorithms or an alternatives method of numerical iteration. It is equally possible to classify CGE models on how such models are numerically specified. The best known method involves the deterministic calibration of the model. The procedure entails choosing benchmark equilibrium time period, constructing, a general equilibrium data set of the period, selecting the functional configuration of the model, the generating model parameters from benchmark data set or from independent econometric works. Mansur and Whalley (1984) examine this typology of CGE model and remarked that CGE model Calibration is often faced with problem of unavailability of social accounting practices and of econometric estimates of key model parameters in developing countries. The challenge that is posed by this problem will always be to construct a social accounting matrix to provide methodological framework for CGE models fashioned after deterministic calibration method.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Social Accounting Matrix</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">A social accounting matrix (SAM) is defined as a numerical representation of economic cycle with emphasis on distributive aspects. As in the complete system of national accounts and in the input-output framework, transactions in a particular year appear in a matrix format showing receipt on the rows and outlays in the columns. Indeed a SAM shows how sectoral value added accrues to production factors and their institution not owners, how these incomes, corrected for net current transaction are spent, and how expenditures on commodities lead to sectoral production and value added with the linkages from this cycle also shown (Keuning and Ruijter, 1988).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">SAM is a square matrix whose rows and columns sums must balance as required by budget constraint condition. The conventions of double entry book-keeping guarantee that these will be no linkages or injections into the system and there is no room for any statistical discrepancy”, suggesting that every flow must go to some actor. Hence a SAM is a synthesis of two well known ideas in economics, namely the input output table and the national income accounting. SAM requires a balance of in the accounts of every factor in the economy, such that the income from say, sales in the agricultural sector must equal to its total expenditure on intermediate inputs, labour, Imports and capital services.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Applications of CGE model to economic analysis since the invention of CGE model in 1960 it has been used as a powerful technique for quantitative analysis in economic terms, these includes analyzing the effects on, for instance industries, region the labour market, income and welfare induced by changes in e.g. government policies including taxes trade restrictions, and/or technology. More recently also dynamic CGE models have been put forth, enabling researchers to address also multi period (dynamic) problems by means of numerical general equilibrium analysis. (Rumler 1999). Other areas where CGE models are applied include income distribution, sectoral manpower planning and resources/environmental economics. <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Application of CGE to Environmental Economics</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">In order to apply CGE model to environmental resources, Bojo etal (1992) presented a modified version of a schematic social accounting matrix the matrix is shown below</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Table 1: <i style="mso-bidi-font-style: normal;">A Hypothetical Sam with Environmental Account</i></span></b></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; margin: auto auto auto -39.6pt; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-table-layout-alt: fixed; mso-yfti-tbllook: 480; width: 732px;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 64.85pt;" valign="top" width="86"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Institutions </span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 46.15pt;" valign="top" width="62"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Factors</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 69pt;" valign="top" width="92"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Production</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Savings investment</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 99pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Rest of the world</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Environment</span></div></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Institution</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 64.85pt;" valign="top" width="86"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 46.15pt;" valign="top" width="62"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">NNP</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 69pt;" valign="top" width="92"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 99pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Rent</span></div></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Factors </span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 64.85pt;" valign="top" width="86"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 46.15pt;" valign="top" width="62"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 69pt;" valign="top" width="92"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">NNP</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 99pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td></tr>
<tr style="mso-yfti-irow: 3;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Production</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 64.85pt;" valign="top" width="86"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">C</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 46.15pt;" valign="top" width="62"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 69pt;" valign="top" width="92"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">GI</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 99pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">X-M</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td></tr>
<tr style="mso-yfti-irow: 4;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Savings investment</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 64.85pt;" valign="top" width="86"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">S</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 46.15pt;" valign="top" width="62"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 69pt;" valign="top" width="92"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">D</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 99pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td></tr>
<tr style="mso-yfti-irow: 5;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Rest of the World</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 64.85pt;" valign="top" width="86"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 46.15pt;" valign="top" width="62"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 69pt;" valign="top" width="92"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">X – M</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 99pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td></tr>
<tr style="mso-yfti-irow: 6; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Environment </span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 64.85pt;" valign="top" width="86"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">-ED</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 46.15pt;" valign="top" width="62"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 69pt;" valign="top" width="92"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Env U</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Est</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 99pt;" valign="top" width="132"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Source: Bojo et al (1992)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">In table 3.1, Net National Product (NNP) is the net value added production, net of the depreciation of real capital. The total income consists of NNP plus rent on environmental resources. This income is equal to purchase of consumption goods (C) plus savings (S) minus the damage to households from a degraded environment, (ED). In the product account, it is assumed that there is an imputed value (Env U) on the companies use of environmental resourcwes, including the harvest of forest resources Savings (S) plus the depreciation (D) equal;s gross investment (GI) in real capital plus the foreign net investment (X - M) plus the value of the change in the stock of environmental resources (Est). it is important to note that in this accounting framework, the sum in the first column, that is, (C + S - ED) gives the net “green” national product where environmental damage and changes in environmental stocks have been netted out, this represents the aggregated measure of human well being which is often differentiated from the System of National Accounts SNA by referring to the sum as the Net Welfare Measure (NWM). The sum is equal to the Net National Product (NNP) plus environmental rent.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Alabi in 1998 tried to apply the technique of CGE model to deforestation. Problem in Nigeria and used a static CGE model of an open economy, although the model have certain implicit dynamic features like inclusion of discount rate to account for future valuation of forested land. The model has two types of sectors, the tradable-producing sectors namely forest, agriculture and industry and the non-tradable-producing sectors which includes infrastructure and service. In addition to this there are two other sectors that clear land namely logging and squatting sectors. The model was solved using a special package called the general algebraic modeling system (GAMS) it was developed by team researchers at World Bank.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Criticism of Computable General Equilibrium Models</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">One of the general Criticism leveled against CGE models are “black boxes” that can not be understood by unintended. While CGE models and the techniques needed to solve them could easily be quite intimidating when first introduced, methodological and computational advances makes this untrue today. Also the development of packaged software to solve complex mathematical or statistical problems has permitted modeless to return their attention to economics.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Conclusion</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Computable general equilibrium models are very crucial to the understanding of intersectoral linkages within an economy, they are employed to address, multi-regional and multiperiod problems. They are capable of directly capturing inter industry inter action suggesting forward and backward linkages arising from the provision and purchase of intermediate inputs. The models have become a dominant methodology in the economic analysis of developing countries and some developed economies.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">References</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Alabi, O. G, (1998) “Environmental degradation and economy wide policies: a computable general equilibrium of deforestation in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>” PhD Economics Proposal University of Ibadan, Nigeria</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Bergman, L. (2003) “An introduction to computable general equilibrium modeling” Seminar Paper, <place w:st="on"><city w:st="on">Stockholm</city></place> school of economis.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Bojo etal (1992) Environmental and development an economic approach Kluwan Academic Publishers, <place w:st="on"><city w:st="on">London</city></place>.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Dixon etal (1984) “Extending the ORANI model of the Australian economy: adding foreign investment to miniature version” in Suraf, H and shoven J. (ed) Applied general equilibrium analysis, cambrige <place w:st="on"><city w:st="on">Univeristy Press</city>, <state w:st="on">New York</state></place>.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Howitt R.E. (1986) “Optimal Control of general equilibrium models: Discussion” American journal of Agricultural economics, Vol 68, No. 5, PP1219-1221</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Keuninh S. and Ruijter W. (1998) “Guideline for the construction of social accounting matrix” Review of income and wealth series 34 No. 1</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Unemo: (1993) “Environmental Impact of government policies and external shocks in <place w:st="on"><country-region w:st="on">Botswana</country-region></place>: A CGE model Approach” Beijer discussion paper series No 26.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Rumter F. (1999), “Computable general equilibrium modeling numerical simulations in a 2 country monetary General equilibrium model” Working paper No. 65 Vienna University of economic</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Tresch W.R. (1981), Public Finance, a normative approach, Irwin-Dorsey Limi <place w:st="on"><state w:st="on">Ontario</state></place></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Walras L. (1974), Elements of pure Economics or the theory of social wealth, Home wood <place w:st="on"><state w:st="on">Ill</state></place>: Richard Irwin,</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Mass-Colell A. (1998), The theory of general equilibrium economic <place w:st="on"><city w:st="on">London</city></place></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US">Monrishma M. (1964), Equilibrium, stability and growth: A multi sectoral analysis: Claredon press.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US"><span style="mso-tab-count: 2;"> </span></span></div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-63043766234352838592011-01-28T14:03:00.000-08:002011-01-28T14:03:02.694-08:00HOW TO WRITE AN ABSTRACT<div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><span style="font-family: 'Times New Roman','serif'; font-size: 14pt;">Mustapha Muktar, Ph.D</span></div><div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><span style="font-family: 'Times New Roman','serif'; font-size: 14pt;">Department of Economics</span></div><div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><span style="font-family: 'Times New Roman','serif'; font-size: 14pt;">Bayero University Kano-Nigeria</span></div><div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;"><span style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 115%;">Abstract is a very important component of scientific researches and papers/reports as well. Academic literature uses the abstract to succinctly communicate complex research. An abstract may act as a stand-alone entity instead of a full paper. As such, an abstract is used by many organizations as the basis for selecting research that is proposed for presentation in the form of a poster. It is therefore mandatory for all research projects to contain abstracts. This piece of note is therefore intended for my research project students (both undergraduate and postgraduate levels).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;"><br />
</div><span style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 115%; mso-ansi-language: EN-GB; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Abstract should contain brief introduction of the research, brief statement of the research problem, summary of main objective of the research, brief methodology employed. A summary of major findings and lastly summary of the main conclusion and major recommendation(s). Abstract length varies by discipline and publisher requirements. Typical length ranges from 100 to 500 words, but very rarely more than a page. Abstracts are written in single spacing and sometimes in italics but this are not necessary. However they should not be more than 500 words at the same time not more tha</span>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-61924680754132709892011-01-28T13:25:00.000-08:002011-01-28T13:25:14.647-08:00IMPACT OF HUMAN RESOURCE DEVELOPMENT ON THE PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA<div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">BY </span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">MUSTAPHA MUKTAR, Ph.D</span></b></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><a href="mailto:Mmuktar75@yahoo.com"><span style="text-decoration: none; text-underline: none;"><span style="color: blue;">mmuktar75@yahoo.com</span></span></a></span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">DEPARTMENT OF ECONOMICS</span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">BAYERO UNIVERSITYKANO-NIGERIA</span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
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</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Being a paper presented at the National Conference on Corporate Survival, performance & Satisfaction in competitive Nigerian Market.</span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
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</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">12<sup>th </sup>– 14<sup>th</sup> July, 2005</span></b></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
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</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="font-size: 11pt; line-height: 150%;">Abstract</span></i></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="font-size: 11pt; line-height: 150%;">Human resource development and training is one of the most important tools of enhancing staff quality and skills, and hence making them competent towards the achievement of organizations’ goals. The study explores the empirical relationship between human resource development and performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Multiple regression was used and the technique of ordinary least squares was adopted in estimating the parameters. The study further sheds light on the quality staff of commercial banks, using qualification, working experience and course duration as indicators. The basic findings are that, expenditure on training exerts a strong and positive impact on performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Also it was discovered that most of the staffs in commercial banks has low educational qualifications and have attended training courses with short duration of less than two weeks. It is recommended that there is the need to encourage commercial banks’ staff to earn higher qualification and join professional bodies such as ICAN and CIBN so as to enhance their quality. Banks need to raise their level of expenditure on training, so that their performance could equally be improved.</span></i></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
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</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">1. INTRODUCTION</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Perhaps the most important resource of an organization is the human resource. The human resources are men and women who are working in an organization. They constitute the active agents who harness and combine other resources towards the accomplishment of organizations goals. Consequently organizations must have competent employees who will be able to carry out assigned tasks for the purpose of attaining organizational goals. It has long been recognized that employees’ competence on a job is acquired not only by formal education but also through experience gained in the work environment and through the acquisition of specific skills and knowledge on the job through training and development. Studies of inter-firm comparisons of productivity and competitiveness reveal that the more skilled the firms’ employees are in meeting the strategic purpose of the firm. The better its performance visa- vis its rivals. Greater attention should therefore be placed on training and development as a means of obtaining competent employees that will help in achieving greater performance.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">One of the critical variables in the performance function of organizations is manpower training and development. This happens to be the vehicle through which the knowledge, skill, and attitudes requisite for the running of organizations are passed on to the people who make the organizations to be. The realization of this fact have made organizations, especially those interested in attaining and maintaining excellent performance, to pay close attention to training and development. Failure to do so can, and indeed does, spell doom for any organization. On the average, therefore, effectively performing organizations plan and invest optimally in training and development.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Banks as all result oriented organizations are aware of critical role of staff <span style="mso-spacerun: yes;"> </span>development in determining their performance, profitability, and competitiveness. Consequently conscious efforts are made to use training and development in order to enhance performance. These efforts can pay off handsomely where there is a good knowledge, and appropriate application of training and development. It is therefore, necessary for all banks to have a good grasp of training and development as an instrument for achieving corporate performance (Gapsiso, 2001).</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Despite the key role played by human resource development and training towards the achievement of corporate performance, most commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place> do not attach much importance to staff development and training. In most banks (especially the first generation banks) staff development centre (SDC) is often considered to be “cost centre” and hence it is being marginalized. Moreover, annual budgets allocated for staff training are meager despite the reimbursement assurance from the industrial training fund (ITF), and above all in adequacy of effective training and development personnel who can effectively handle training and development in banks. Training departments are thus believed to be punishment centers (for erring staffs or those not liked) and that they are dry as the prosperity in the banking industry does not flow there, which makes good materials posted there to resist. If staffs that resisted are finally forced to go there, they remain uncommitted (Daradara 2004)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The objective of this paper is to assess the impact of human resource development on the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Specifically, the paper will try to assess the relationship between performance of commercial banks and expenditure on training, it will also assess the quality of human resource employed by commercial banks. And lastly it will make policy recommendations based on the findings.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The scope of this paper is narrowed to the year 1990 – 2003 the choice of this period has to do with the availability of data; also the impact of staff development on the profitability of banks will only be covered. Other performance indicators are thus not considered. This is due to the constraint posed by insufficient data, time and finance. However the findings of the paper will be of great importance to corporate bodies, the policy makers and the entire economy at large.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">To this end, the paper is organized into four parts, following this introductory part section two contains <span style="mso-spacerun: yes;"> </span>literature review and theoretical issues, section three contain methodology and discussion of result. The last chapter contains concluding remarks.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2. LITERATURE REVIEW </span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Human Capital Development</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The concept of human capital formation refers to a conscious and continuous process of acquiring and increasing the number of people with the requisite knowledge, education, skills and experiences that are crucial for political and economic development of a country (Harbison 1973; Salleh 1992). The importance of human capital in the overall national development and the well-being of people is certainly not a new idea. It has been noted by Adam smith in his Classic writings in 1776 that the bases for national wealth are skill, dexterity and competence of individuals. This conception is further given prominence by the ancient proverb: “if you are planning for a year, sow rice. For ten years, plant trees. For hundred years, educate people. (Salleh 1992) The classical economists thus, commented on the role of human capital development through education towards the economic growth of a country at large. They believed that it is through education that human capital needed in areas in construction and heavy industries, schools, colleges, hospitals and a host of other activities associated with development can be provided. Smith further concluded that the acquisition of talents and skills by an individual through education, study or apprenticeship is a fortune not only to the person himself but to the society to which he belongs.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The concept of human capital has relevance to the issue of productivity, growth and marginal returns, as differences in productivity among workers may reflect different levels of skills acquired through investment in human capital formation. This will include the acquisition of knowledge, abilities, attitudes and sensitivities.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">At organizational level, Human resource development refers to the full range of strategies, tools, processes, procedures and structures that are employed in a given organization, aimed at improving the capability of the organizations workforce to achieve its goals (Itsede 2003) Although the focus here is at the level of individual, it should be noted that the abilities of individuals are constrained by the systems in which they work.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Staff training and development</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Training simply put, is the process of imparting knowledge, skills and attitudes in people in order to achieve some desired goals, on the other hand development refers to the process of making somebody or something more matured, advanced, or organized. In the light of the above, manpower training and development refers to the process of imparting knowledge, skills and attitudes in the staff of an organization, and making the staffs more mature. It is through these processes that staff knows what are to be done, how those things to be done are to be tackled, and the manner in which the things to be done are to be approached. In addition it is through these processes that the staff becomes more mature, capable, effective and efficient in the performance of their duties (Gapsiso, 2001)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Training and development in organization aims at enhancing the performance of staff and the organization at large. Improving the productivity of staff and organization and acquainting staff with changes so as to achieve the goals of the organization. It is obvious that he primary and indeed the ultimate aim of training is enhanced organizational performance. Once performance is enhanced, profitability and competitiveness will naturally follow, especially for commercial organizations.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Human resource development in Banks</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Banks pay close attention to training and development activities in order to enhance their performance, however, any bank desirous of exploiting the endeavor to advantage has to tailor the objectives of its training and development activities to be in tune with its corporate strategies. Such strategies are expected to make banks competitive so that, at the end of the day the bank can perform better. Staff trained should be expected to be equipped with knowledge, skills and attitude that will facilitate the achievement of corporate goals.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Staff in charge of, or involved with, training and development in banks have to clarify the objectives of their activities, endeavor to derive the objectives from the overall corporate goals and strategies. There are thus, three activities that make up training and development functions in banks. They are on- the- job, courses and self development activities. On-the- job, staff is trained through learning by doing attachements, acting appointment and relief appointments. Course organized by banks include, courses, workshops, seminars and symposia. For self development activities, staff is mainly attending part time programmes to get additional qualification <b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span></b></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Financing training and development activities in banks</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">One aspect of training and development in banks is the availability or otherwise of fund, for the purpose. Even though banks have money as their stock in trade, they do not have all they need all the time. It is therefore, necessary to note the available sources and work towards the exploitation of the sources. Banks have four major sources of finance for training and development. These are corporate budgetary allocations, assistance from other organizations, re-imbursement from the industrial training fund, and proceeds from commercial courses. Each of these sources should be known well, and appropriately exploited, so as to boost training and development activities (Gapsiso, 2001)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Empirical literature</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Uchendu (1995) attempted to investigate the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place> using the ordinary least squares (OLS) single equation estimation technique. He used a time series data 1970 – 1993, and concludes that whether you use all banks data, six banks data or three large banks data, the dominant factors affecting banks performance are banking structure, unit labour cost and interest rate. The study is important as it assists the industry managers in identifying the dominant variables to target in order to improve their performance.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Nyong (1996) Using simultaneous equation model studied the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. He however, considers profitability as a measure of banks performance in spite of the high level of undercapitalization. His study sheds more light on the effects of managerial efficiency on the performance of commercial banks. The findings of this study however, raised serious concern about the quality of human resource especially at managerial level, and the need for concerted efforts to promote staff development programme as a logical first step in preparing for dynamic banking.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">CBN in collaboration with NDIC and NISER (2000) studied the performance profile of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place> in relation to the quality of human resource.<span style="mso-spacerun: yes;"> </span>Banks performance was proxied by profit before tax divided by Asset base ratio, in the study. It was discovered that the performance of commercial banks is associated, to a great extent with the educational qualifications of its human resources. The study also found that there is a high percentage of staff in the industry with low qualifications. An encouraging development however is that, the percentage is declining as increasing number of staff who had no degrees are improving themselves, by acquiring more certificates. The study recommended that, if staff with experience of 3 years or more could be complemented with those with higher qualifications, performance will undoubtedly improve.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">3. METHODOLOGY</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">3.1 Model specification </span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The conventional neoclassical growth theory as modeled by Robert Solow (1965), holds the view that economic growth is as a result of accumulation of physical capital and an expansion of the labour force in conjunction with “exogenous” factor, technological progress that makes physical capital and labour more productive. The solow production function is of the form:</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Y<sub>t</sub> = A<sub>t</sub>F (K<sub>t</sub> L<sub>t</sub>)<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(1)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Where<span style="mso-spacerun: yes;"> </span>Y<sub>t </sub><span style="mso-spacerun: yes;"> </span>is the aggregate real output, K is the capital stock, L is the labour resource, A is the efficiency factor and t is the time dimension. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The emergence of endogenous growth theory and models (e.g. Romer 1986 and Barro 1991) suggest that other endogenous factors such as human capital and education, political stability and, etc, can also affect economic growth.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Mankiw (1992) and Grammy& Assane (1996) adopted the Cobb Douglass production function to formulate their growth model as;</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Y<sub>t</sub> = A<sub> (t)<span style="mso-spacerun: yes;"> </span></sub>K<sup><span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"> <stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype><shape id="_x0000_i1025" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span>1</sup>L <sup><span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1026" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span>2 </sup>H<sup> <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1027" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span>3<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></sup>(2)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Where H is the human capital, <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1028" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>1</sub> + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1029" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>2</sub> + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1030" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>3</sub> = 1 (assuming constant return to scale); other variables as defined earlier. Both A and L represent the number of effective units of labour, and it is expected to grow.<span style="mso-spacerun: yes;"> </span>Taking the natural logarithm of both sides of the equation produces a linear equation in the levels of the form:</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>LnY = a + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1031" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>1</sub>Ln K + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1032" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>2</sub>Ln L<sub> <span style="mso-spacerun: yes;"> </span></sub>+ <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1033" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>3 </sub>Ln H<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(3)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>In<span style="mso-spacerun: yes;"> </span>line with the above model the model adopted in this study will use commercial banks performance proxied by return on capital as depending on <span style="mso-spacerun: yes;"> </span>expenditure on local training and expenditure on overseas training. Empirically the model is given as; </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Ln CBF = <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1034" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>0 </sub>+ <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1035" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>1</sub> Ln ELT + <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1036" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>2</sub> Ln EOT <span style="mso-spacerun: yes;"> </span>+<span style="mso-spacerun: yes;"> </span>U<sub>t</sub> <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(4)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Where BF is commercial banks performance, ELT is expenditure on local training, EOT is the expenditure on overseas training and U is the disturbance term. On a priori ground <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1037" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>0,<span style="mso-spacerun: yes;"> </span></sub><span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1038" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>1, </sub>and <sub><span style="mso-spacerun: yes;"> </span></sub><span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1039" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"> <imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>2 <b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span></b></sub><b style="mso-bidi-font-weight: normal;">> </b>0. It should be noted that all the coefficients are positively related to bank’s performance. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Data sources and measurement</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the model it is evident that the needed data are banks performance, proxied by return on capital. Commercial banks’ expenditure on local training and commercial banks’ expenditure on overseas training.<b style="mso-bidi-font-weight: normal;"> </b>The data covered the period 1990 – 2003. The sources of the data are as follows return on capital was generated by dividing the profits on ordinary equity of commercial banks before interest and taxation by capital employed. And the data on profits and capital employed were obtained from Central Bank of <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>, CBN. Human resource development was proxied by the expenditure on local training and expenditure on overseas training. And the data were sourced from financial institutions’ training centre, FITC (see appendix). All data are converted into natural logarithm for ease of analysis.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Sample and Sampling Technique.</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The total population of this study is the entire commercial banks, however to be more specific and precise a sample of four banks was selected using stratified technique of sampling. The banks sampled are; First bank of Nigeria Plc, Bank of the North Ltd. Intercity bank Plc and Zenith international Bank PLc. This sampling technique is however adopted so that both the first generation and the new generation banks are covered.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Empirical Result</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The estimated results are presented in table 1. Multiple regression was used, and ordinary least squares (OLS) estimation technique was adopted in estimation the equation.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 1</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"> Regression Result.</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Variables</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Coefficients</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">T Stat.</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Standard Errors</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Other Results</span></b></div></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Constant </span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">12. 8137</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">19.9225</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.0624</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">R<sup>2 </sup>= 0.67</span></div></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Ln ELT</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.3364</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">1.8652</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.3121</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Adj.<span style="mso-spacerun: yes;"> </span>R<sup>2</sup>= 0.61</span></div></td></tr>
<tr style="mso-yfti-irow: 3; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Ln EOT</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.1265</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">1.0902</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.0625</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">DW=1.91,F=12.461</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Source : Computed using Micro fit 4.0 Computer Software.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">LnCBF=12.8137+<span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1040" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"> <imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>1</sub>Ln 0.3364 + <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1041" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>2</sub> Ln 0.1265 + <span style="mso-spacerun: yes;"> </span>U<sub>t</sub><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(5)<b style="mso-bidi-font-weight: normal;"></b></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the result of estimation of equation 5, the following facts emerge:</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">It is evident that he sign and sizes of all the parameters estimated are consistent with the a priori expectations. They all have the predicted positive signs. All the explanatory variables are statistically significant at the conventional 5% level of significance.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The dependent variable is commercial banks’ performance, and the equation shows a positive relationship between performance and expenditure on local training and that of overseas training. This is an indication that human development and training is vital to the performance of commercial banks’ staff and that have a direct and positive impact on the performance of the banks. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The values of R<sup>2</sup> and adjusted R<sup>2</sup><sub> </sub>are 67% and 61% respectively and it means 61% of the total variation in performance is explained by the explanatory variables. The F statistics is statistically significant at 5% level. The David Watson statistics is 1.91 and that shows that, there is no evidence of serial correlation of the first order. <span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Quality of human resource in commercial banks</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The issue of human resource quality is worthy of examining because of two reasons; the first relates to high incidence of fraud and forgeries in commercial banks. The second is the concern on the high level of non performing loans and assets. Given these, the relevant question that could be posed is whether there were not enough trained and qualified personnel to do the job?</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Qualification is an important factor in determining human resource quality, apart from pre employment formal education (University degrees, and etc) commercial banks require professional qualification from bodies like ICAN, CIBN and etc. The qualification mix of commercial banks as at 1997 is presented on table 2</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 2</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"> Qualification mix of staff in commercial banks, 1997</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Professional and degree</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Professionals only</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Non degree /Non professionals</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Total</span></div></td></tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2,499<span style="mso-spacerun: yes;"> </span>(5%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">14,461 (26%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">37,723 (69%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">54,683</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Source: Financial institution training centre FITC, 2000.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the table we can see that the highest percentage is that of staff with non degree / non professional qualification holders in their workforce in 1997, and hence it can be concluded that the human resource quality in terms of qualification is very low.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Experience as a factor in human resource quality</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The number of years spent on a job by a staff is a valid measure of the quality of human resource; this is because workers learn on the job. Table 3 presents this factor.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 3</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"> Experience profile of staff in commercial banks, 1997</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Less than 3 years</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">3 – 10 years</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Above 10 years</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Total</span></div></td></tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">5,260 (10%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">19,466 (35%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">29,997 (55%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">54,723</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Source: Financial institution training centre FITC, 2000.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The data shows that as at December 1997, 55% of the staff in commercial banks had experience of over 10 years, while 35% had 3-10 years and lastly only 10% had less than 3years of working experience. And we can conclude that about 90% of staff in commercial banks has 3 and above years of experience and hence have undergone different types of on the job training, as such the quality of human resource in terms of years of experience is encouraging.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Training and human resource quality</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The number and quality of training courses attended by each staff over time as well as the duration of such course are important determinants of human resource quality. The longer the period/contact hours trainees spend, the faster and more qualitative will be the human resource.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 4 Course duration in commercial banks, 1997</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Under 2 weeks</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2 – 3 weeks </span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Above 3 weeks</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Total</span></div></td></tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2,0447</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2,646</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">692</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">23,785</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Source: Financial institution training centre FITC, 2000.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the table above, majority of staff trained in 1997, were exposed to short courses of less than 2 weeks duration. This may perhaps be due to two reasons, namely; the need to reduce the overall cost of raining, and banks can ill afford to release staff for training period beyond two weeks, as a result of pressure of work. However from the point of view of banks, training should be considered as an investment rather than a cost. And the greater the contact hour trainees were exposed, the more they are likely to acquire relevant competence to cope with their complex and intricate job.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">4. CONCLUSION AND RECOMMENDATIONS</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Human resource development is a crucial factor in explaining the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Two important findings are observed in this study. First there is a strong and positive relationship between performance of commercial banks, and human resource development and training. Secondly the quality of commercial banks staff as at 1997 was evaluated using three factors, qualification, years of working experience and course duration. The study found that as at December 1997, about 70% of the staff in commercial banks neither has degree or its equivalent nor do they have any professional qualification. With regards to the working experience 90% of the total staff in commercial banks has at least 3 or more years of working experience. And lastly, courses attended by commercial banks’ staff in 1997 have short duration of less than 2 weeks.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">It is therefore, recommended that, there is the need to improve the quality of human resource in commercial banks through more rigorous training with longer duration and capacity utilization programmes. By and large there is the need to encourage staff to earn higher qualification and join professional bodies so that their skills can be increased and hence they will become more productive and capable of achieving corporate objectives.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">In addition since training expenditure is a significant factor in determining the performance of banks, then, there is the need to increase it, so that the performance can be increased too.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">REFERENCES</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Dara Dara, J.B (2004) “Human Resource Development and performance of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Tropical Commercial Bank” Unpublished Seminar, </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>BUK, <place w:st="on"><city w:st="on">Kano</city></place>.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Financial <place w:st="on"><placename w:st="on">Institution</placename> <placename w:st="on">Training</placename> <placetype w:st="on">Center</placetype></place> (2000) <u>Issues in Human Resource </u></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><u>Utilization: A study of the Nigerian </u></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><u>Banking Sector.</u> Published by FITC</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Gapsiso, V.H (2001) “Manpower Training and Development in Banks”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-tab-count: 1;"> </span><span style="mso-spacerun: yes;"> </span>Unpublished paper presented on Workshop at TCB </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><place w:st="on"><city w:st="on">Kano</city></place>. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Grammy, A.P and Assane, D. (1996) “New Evidence on the Effect of</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Human Capital on Economic Growth”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Applied Economic letters, Vol. 4</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Harbison, F.H (1973) <u>Human Resource as Wealth of Nations</u>. <place w:st="on"><city w:st="on">Oxford</city></place> </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>University press.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Itsede, C (2003) “The role of Human Resource Development in NEPAD”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Economic and Financial review, Vol. 41 No. 4</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Mankiw, N.G and Romer, D (1992) “Contribution to the Empirics of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Economic Growth”Quarterly journal of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Economics, vol. CVII, Issue 2, No. 429</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Nyong, M (1986) “Monetary policy and Banks performance in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>CBN Economic and Financial review, Vol.34, No. 3</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Odusola, A.Y (1998) Human capital investment and the empirics of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Economic growth. NES Annual conference.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Romer, P. (1987) “Crazy explanations for the productivity slowdown” </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>NBER, Macroeconomic annual.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Salleh, S.H (1992) “Overview of Human Resources Development” Kuala </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Lumpur, Asian Pacific and <place w:st="on"><placename w:st="on">development</placename> <placetype w:st="on">Center</placetype></place>.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Solow, R (1956) A Contribution to the theory of Economic Growth” Quarterly journal of Economics, LXX.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Stiff, L. (2004) “Training and Evaluation an analysis of talent management” </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><u>http//www.localhost/E/local.htm</u></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">Appendix</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US">Training Expenditure, Capital employed and Profits before Tax<span style="mso-spacerun: yes;"> </span>1990 – 2003.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><br />
</div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">Year</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">1</span></b><span lang="EN-US" style="font-size: 14pt;"> Expenditure on Training </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">in Million Naira.</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">2 </span></b><span lang="EN-US" style="font-size: 14pt;">Capital Employed in Million Naira.</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">3 </span></b><span lang="EN-US" style="font-size: 14pt;">Profits in Million Naira.</span></div></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1990</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">17.6</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">26625.88</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">31951.05</span></div></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1991</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">21.06</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">28458.32</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">42687.45</span></div></td></tr>
<tr style="mso-yfti-irow: 3;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1992</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">21.726</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">31838.16</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">382005.79</span></div></td></tr>
<tr style="mso-yfti-irow: 4;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1993</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">27.774</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">45232.56</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">50660.47</span></div></td></tr>
<tr style="mso-yfti-irow: 5;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1994</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">29.996</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">590066.44</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">598265.07</span></div></td></tr>
<tr style="mso-yfti-irow: 6;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1995</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">30.726</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">77028.36</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">130948.21</span></div></td></tr>
<tr style="mso-yfti-irow: 7;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1996</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">39.69</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">91755.44</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">137633.16</span></div></td></tr>
<tr style="mso-yfti-irow: 8;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1997</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">37.272</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">11687.50</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">198681.75</span></div></td></tr>
<tr style="mso-yfti-irow: 9;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1998</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">42.648</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">120021.64</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1137415.73</span></div></td></tr>
<tr style="mso-yfti-irow: 10;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1999</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">38.544</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">128807.24</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">6283372.07</span></div></td></tr>
<tr style="mso-yfti-irow: 11;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2000</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">41.604</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">204247.30</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">7627449.61</span></div></td></tr>
<tr style="mso-yfti-irow: 12;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2001</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">88.438</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">275254.84</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">24144193.65</span></div></td></tr>
<tr style="mso-yfti-irow: 13;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2002</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">111.438</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">391254.84</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">14655345.93</span></div></td></tr>
<tr style="mso-yfti-irow: 14; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2003</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">112.987</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">406305.30</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">16867878.22</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">Source: 1 Financial institution training Centre, FITC 2003.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>2 and 3 Central Bank of <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>, Research Department, 2004.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US"><span style="mso-spacerun: yes;"> </span></span></div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com0tag:blogger.com,1999:blog-5080086240945615763.post-5117706877257804642011-01-28T13:24:00.005-08:002011-01-28T13:24:57.878-08:00IMPACT OF HUMAN RESOURCE DEVELOPMENT ON THE PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA<div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">BY </span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">MUSTAPHA MUKTAR, Ph.D</span></b></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><a href="mailto:Mmuktar75@yahoo.com"><span style="text-decoration: none; text-underline: none;"><span style="color: blue;">mmuktar75@yahoo.com</span></span></a></span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">DEPARTMENT OF ECONOMICS</span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">BAYERO UNIVERSITYKANO-NIGERIA</span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
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</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Being a paper presented at the National Conference on Corporate Survival, performance & Satisfaction in competitive Nigerian Market.</span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">12<sup>th </sup>– 14<sup>th</sup> July, 2005</span></b></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
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</div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="font-size: 11pt; line-height: 150%;">Abstract</span></i></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="font-size: 11pt; line-height: 150%;">Human resource development and training is one of the most important tools of enhancing staff quality and skills, and hence making them competent towards the achievement of organizations’ goals. The study explores the empirical relationship between human resource development and performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Multiple regression was used and the technique of ordinary least squares was adopted in estimating the parameters. The study further sheds light on the quality staff of commercial banks, using qualification, working experience and course duration as indicators. The basic findings are that, expenditure on training exerts a strong and positive impact on performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Also it was discovered that most of the staffs in commercial banks has low educational qualifications and have attended training courses with short duration of less than two weeks. It is recommended that there is the need to encourage commercial banks’ staff to earn higher qualification and join professional bodies such as ICAN and CIBN so as to enhance their quality. Banks need to raise their level of expenditure on training, so that their performance could equally be improved.</span></i></div><div align="center" class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: center;"><br />
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</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">1. INTRODUCTION</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Perhaps the most important resource of an organization is the human resource. The human resources are men and women who are working in an organization. They constitute the active agents who harness and combine other resources towards the accomplishment of organizations goals. Consequently organizations must have competent employees who will be able to carry out assigned tasks for the purpose of attaining organizational goals. It has long been recognized that employees’ competence on a job is acquired not only by formal education but also through experience gained in the work environment and through the acquisition of specific skills and knowledge on the job through training and development. Studies of inter-firm comparisons of productivity and competitiveness reveal that the more skilled the firms’ employees are in meeting the strategic purpose of the firm. The better its performance visa- vis its rivals. Greater attention should therefore be placed on training and development as a means of obtaining competent employees that will help in achieving greater performance.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">One of the critical variables in the performance function of organizations is manpower training and development. This happens to be the vehicle through which the knowledge, skill, and attitudes requisite for the running of organizations are passed on to the people who make the organizations to be. The realization of this fact have made organizations, especially those interested in attaining and maintaining excellent performance, to pay close attention to training and development. Failure to do so can, and indeed does, spell doom for any organization. On the average, therefore, effectively performing organizations plan and invest optimally in training and development.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Banks as all result oriented organizations are aware of critical role of staff <span style="mso-spacerun: yes;"> </span>development in determining their performance, profitability, and competitiveness. Consequently conscious efforts are made to use training and development in order to enhance performance. These efforts can pay off handsomely where there is a good knowledge, and appropriate application of training and development. It is therefore, necessary for all banks to have a good grasp of training and development as an instrument for achieving corporate performance (Gapsiso, 2001).</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Despite the key role played by human resource development and training towards the achievement of corporate performance, most commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place> do not attach much importance to staff development and training. In most banks (especially the first generation banks) staff development centre (SDC) is often considered to be “cost centre” and hence it is being marginalized. Moreover, annual budgets allocated for staff training are meager despite the reimbursement assurance from the industrial training fund (ITF), and above all in adequacy of effective training and development personnel who can effectively handle training and development in banks. Training departments are thus believed to be punishment centers (for erring staffs or those not liked) and that they are dry as the prosperity in the banking industry does not flow there, which makes good materials posted there to resist. If staffs that resisted are finally forced to go there, they remain uncommitted (Daradara 2004)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The objective of this paper is to assess the impact of human resource development on the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Specifically, the paper will try to assess the relationship between performance of commercial banks and expenditure on training, it will also assess the quality of human resource employed by commercial banks. And lastly it will make policy recommendations based on the findings.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The scope of this paper is narrowed to the year 1990 – 2003 the choice of this period has to do with the availability of data; also the impact of staff development on the profitability of banks will only be covered. Other performance indicators are thus not considered. This is due to the constraint posed by insufficient data, time and finance. However the findings of the paper will be of great importance to corporate bodies, the policy makers and the entire economy at large.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">To this end, the paper is organized into four parts, following this introductory part section two contains <span style="mso-spacerun: yes;"> </span>literature review and theoretical issues, section three contain methodology and discussion of result. The last chapter contains concluding remarks.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2. LITERATURE REVIEW </span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Human Capital Development</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The concept of human capital formation refers to a conscious and continuous process of acquiring and increasing the number of people with the requisite knowledge, education, skills and experiences that are crucial for political and economic development of a country (Harbison 1973; Salleh 1992). The importance of human capital in the overall national development and the well-being of people is certainly not a new idea. It has been noted by Adam smith in his Classic writings in 1776 that the bases for national wealth are skill, dexterity and competence of individuals. This conception is further given prominence by the ancient proverb: “if you are planning for a year, sow rice. For ten years, plant trees. For hundred years, educate people. (Salleh 1992) The classical economists thus, commented on the role of human capital development through education towards the economic growth of a country at large. They believed that it is through education that human capital needed in areas in construction and heavy industries, schools, colleges, hospitals and a host of other activities associated with development can be provided. Smith further concluded that the acquisition of talents and skills by an individual through education, study or apprenticeship is a fortune not only to the person himself but to the society to which he belongs.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The concept of human capital has relevance to the issue of productivity, growth and marginal returns, as differences in productivity among workers may reflect different levels of skills acquired through investment in human capital formation. This will include the acquisition of knowledge, abilities, attitudes and sensitivities.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">At organizational level, Human resource development refers to the full range of strategies, tools, processes, procedures and structures that are employed in a given organization, aimed at improving the capability of the organizations workforce to achieve its goals (Itsede 2003) Although the focus here is at the level of individual, it should be noted that the abilities of individuals are constrained by the systems in which they work.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Staff training and development</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Training simply put, is the process of imparting knowledge, skills and attitudes in people in order to achieve some desired goals, on the other hand development refers to the process of making somebody or something more matured, advanced, or organized. In the light of the above, manpower training and development refers to the process of imparting knowledge, skills and attitudes in the staff of an organization, and making the staffs more mature. It is through these processes that staff knows what are to be done, how those things to be done are to be tackled, and the manner in which the things to be done are to be approached. In addition it is through these processes that the staff becomes more mature, capable, effective and efficient in the performance of their duties (Gapsiso, 2001)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Training and development in organization aims at enhancing the performance of staff and the organization at large. Improving the productivity of staff and organization and acquainting staff with changes so as to achieve the goals of the organization. It is obvious that he primary and indeed the ultimate aim of training is enhanced organizational performance. Once performance is enhanced, profitability and competitiveness will naturally follow, especially for commercial organizations.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Human resource development in Banks</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Banks pay close attention to training and development activities in order to enhance their performance, however, any bank desirous of exploiting the endeavor to advantage has to tailor the objectives of its training and development activities to be in tune with its corporate strategies. Such strategies are expected to make banks competitive so that, at the end of the day the bank can perform better. Staff trained should be expected to be equipped with knowledge, skills and attitude that will facilitate the achievement of corporate goals.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Staff in charge of, or involved with, training and development in banks have to clarify the objectives of their activities, endeavor to derive the objectives from the overall corporate goals and strategies. There are thus, three activities that make up training and development functions in banks. They are on- the- job, courses and self development activities. On-the- job, staff is trained through learning by doing attachements, acting appointment and relief appointments. Course organized by banks include, courses, workshops, seminars and symposia. For self development activities, staff is mainly attending part time programmes to get additional qualification <b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span></b></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Financing training and development activities in banks</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">One aspect of training and development in banks is the availability or otherwise of fund, for the purpose. Even though banks have money as their stock in trade, they do not have all they need all the time. It is therefore, necessary to note the available sources and work towards the exploitation of the sources. Banks have four major sources of finance for training and development. These are corporate budgetary allocations, assistance from other organizations, re-imbursement from the industrial training fund, and proceeds from commercial courses. Each of these sources should be known well, and appropriately exploited, so as to boost training and development activities (Gapsiso, 2001)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Empirical literature</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Uchendu (1995) attempted to investigate the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place> using the ordinary least squares (OLS) single equation estimation technique. He used a time series data 1970 – 1993, and concludes that whether you use all banks data, six banks data or three large banks data, the dominant factors affecting banks performance are banking structure, unit labour cost and interest rate. The study is important as it assists the industry managers in identifying the dominant variables to target in order to improve their performance.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Nyong (1996) Using simultaneous equation model studied the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. He however, considers profitability as a measure of banks performance in spite of the high level of undercapitalization. His study sheds more light on the effects of managerial efficiency on the performance of commercial banks. The findings of this study however, raised serious concern about the quality of human resource especially at managerial level, and the need for concerted efforts to promote staff development programme as a logical first step in preparing for dynamic banking.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">CBN in collaboration with NDIC and NISER (2000) studied the performance profile of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place> in relation to the quality of human resource.<span style="mso-spacerun: yes;"> </span>Banks performance was proxied by profit before tax divided by Asset base ratio, in the study. It was discovered that the performance of commercial banks is associated, to a great extent with the educational qualifications of its human resources. The study also found that there is a high percentage of staff in the industry with low qualifications. An encouraging development however is that, the percentage is declining as increasing number of staff who had no degrees are improving themselves, by acquiring more certificates. The study recommended that, if staff with experience of 3 years or more could be complemented with those with higher qualifications, performance will undoubtedly improve.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">3. METHODOLOGY</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">3.1 Model specification </span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The conventional neoclassical growth theory as modeled by Robert Solow (1965), holds the view that economic growth is as a result of accumulation of physical capital and an expansion of the labour force in conjunction with “exogenous” factor, technological progress that makes physical capital and labour more productive. The solow production function is of the form:</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Y<sub>t</sub> = A<sub>t</sub>F (K<sub>t</sub> L<sub>t</sub>)<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(1)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Where<span style="mso-spacerun: yes;"> </span>Y<sub>t </sub><span style="mso-spacerun: yes;"> </span>is the aggregate real output, K is the capital stock, L is the labour resource, A is the efficiency factor and t is the time dimension. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The emergence of endogenous growth theory and models (e.g. Romer 1986 and Barro 1991) suggest that other endogenous factors such as human capital and education, political stability and, etc, can also affect economic growth.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Mankiw (1992) and Grammy& Assane (1996) adopted the Cobb Douglass production function to formulate their growth model as;</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Y<sub>t</sub> = A<sub> (t)<span style="mso-spacerun: yes;"> </span></sub>K<sup><span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"> <stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype><shape id="_x0000_i1025" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span>1</sup>L <sup><span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1026" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span>2 </sup>H<sup> <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1027" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span>3<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></sup>(2)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Where H is the human capital, <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1028" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>1</sub> + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1029" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>2</sub> + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1030" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>3</sub> = 1 (assuming constant return to scale); other variables as defined earlier. Both A and L represent the number of effective units of labour, and it is expected to grow.<span style="mso-spacerun: yes;"> </span>Taking the natural logarithm of both sides of the equation produces a linear equation in the levels of the form:</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>LnY = a + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1031" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>1</sub>Ln K + <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1032" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>2</sub>Ln L<sub> <span style="mso-spacerun: yes;"> </span></sub>+ <span style="mso-text-raise: -3.0pt; position: relative; top: 3pt;"><shape id="_x0000_i1033" o:ole="" style="height: 11.25pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.wmz"></imagedata></shape></span><sub>3 </sub>Ln H<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(3)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>In<span style="mso-spacerun: yes;"> </span>line with the above model the model adopted in this study will use commercial banks performance proxied by return on capital as depending on <span style="mso-spacerun: yes;"> </span>expenditure on local training and expenditure on overseas training. Empirically the model is given as; </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Ln CBF = <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1034" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>0 </sub>+ <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1035" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>1</sub> Ln ELT + <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1036" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>2</sub> Ln EOT <span style="mso-spacerun: yes;"> </span>+<span style="mso-spacerun: yes;"> </span>U<sub>t</sub> <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(4)</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Where BF is commercial banks performance, ELT is expenditure on local training, EOT is the expenditure on overseas training and U is the disturbance term. On a priori ground <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1037" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>0,<span style="mso-spacerun: yes;"> </span></sub><span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1038" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>1, </sub>and <sub><span style="mso-spacerun: yes;"> </span></sub><span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1039" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"> <imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>2 <b style="mso-bidi-font-weight: normal;"><span style="mso-spacerun: yes;"> </span></b></sub><b style="mso-bidi-font-weight: normal;">> </b>0. It should be noted that all the coefficients are positively related to bank’s performance. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Data sources and measurement</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the model it is evident that the needed data are banks performance, proxied by return on capital. Commercial banks’ expenditure on local training and commercial banks’ expenditure on overseas training.<b style="mso-bidi-font-weight: normal;"> </b>The data covered the period 1990 – 2003. The sources of the data are as follows return on capital was generated by dividing the profits on ordinary equity of commercial banks before interest and taxation by capital employed. And the data on profits and capital employed were obtained from Central Bank of <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>, CBN. Human resource development was proxied by the expenditure on local training and expenditure on overseas training. And the data were sourced from financial institutions’ training centre, FITC (see appendix). All data are converted into natural logarithm for ease of analysis.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Sample and Sampling Technique.</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The total population of this study is the entire commercial banks, however to be more specific and precise a sample of four banks was selected using stratified technique of sampling. The banks sampled are; First bank of Nigeria Plc, Bank of the North Ltd. Intercity bank Plc and Zenith international Bank PLc. This sampling technique is however adopted so that both the first generation and the new generation banks are covered.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Empirical Result</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The estimated results are presented in table 1. Multiple regression was used, and ordinary least squares (OLS) estimation technique was adopted in estimation the equation.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 1</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"> Regression Result.</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Variables</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Coefficients</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">T Stat.</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Standard Errors</span></b></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Other Results</span></b></div></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Constant </span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">12. 8137</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">19.9225</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.0624</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">R<sup>2 </sup>= 0.67</span></div></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Ln ELT</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.3364</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">1.8652</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.3121</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Adj.<span style="mso-spacerun: yes;"> </span>R<sup>2</sup>= 0.61</span></div></td></tr>
<tr style="mso-yfti-irow: 3; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Ln EOT</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81.55pt;" valign="top" width="109"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.1265</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 62.45pt;" valign="top" width="83"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">1.0902</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">0.0625</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 4cm;" valign="top" width="151"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">DW=1.91,F=12.461</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Source : Computed using Micro fit 4.0 Computer Software.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">LnCBF=12.8137+<span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1040" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"> <imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>1</sub>Ln 0.3364 + <span style="mso-text-raise: -5.0pt; position: relative; top: 5pt;"><shape id="_x0000_i1041" o:ole="" style="height: 15.75pt; width: 12pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image003.wmz"></imagedata></shape></span><sub>2</sub> Ln 0.1265 + <span style="mso-spacerun: yes;"> </span>U<sub>t</sub><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>(5)<b style="mso-bidi-font-weight: normal;"></b></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the result of estimation of equation 5, the following facts emerge:</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">It is evident that he sign and sizes of all the parameters estimated are consistent with the a priori expectations. They all have the predicted positive signs. All the explanatory variables are statistically significant at the conventional 5% level of significance.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The dependent variable is commercial banks’ performance, and the equation shows a positive relationship between performance and expenditure on local training and that of overseas training. This is an indication that human development and training is vital to the performance of commercial banks’ staff and that have a direct and positive impact on the performance of the banks. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The values of R<sup>2</sup> and adjusted R<sup>2</sup><sub> </sub>are 67% and 61% respectively and it means 61% of the total variation in performance is explained by the explanatory variables. The F statistics is statistically significant at 5% level. The David Watson statistics is 1.91 and that shows that, there is no evidence of serial correlation of the first order. <span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Quality of human resource in commercial banks</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The issue of human resource quality is worthy of examining because of two reasons; the first relates to high incidence of fraud and forgeries in commercial banks. The second is the concern on the high level of non performing loans and assets. Given these, the relevant question that could be posed is whether there were not enough trained and qualified personnel to do the job?</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Qualification is an important factor in determining human resource quality, apart from pre employment formal education (University degrees, and etc) commercial banks require professional qualification from bodies like ICAN, CIBN and etc. The qualification mix of commercial banks as at 1997 is presented on table 2</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 2</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"> Qualification mix of staff in commercial banks, 1997</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Professional and degree</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Professionals only</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Non degree /Non professionals</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Total</span></div></td></tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2,499<span style="mso-spacerun: yes;"> </span>(5%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">14,461 (26%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">37,723 (69%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">54,683</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Source: Financial institution training centre FITC, 2000.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the table we can see that the highest percentage is that of staff with non degree / non professional qualification holders in their workforce in 1997, and hence it can be concluded that the human resource quality in terms of qualification is very low.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Experience as a factor in human resource quality</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The number of years spent on a job by a staff is a valid measure of the quality of human resource; this is because workers learn on the job. Table 3 presents this factor.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 3</span></b><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"> Experience profile of staff in commercial banks, 1997</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Less than 3 years</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">3 – 10 years</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Above 10 years</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Total</span></div></td></tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">5,260 (10%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">19,466 (35%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">29,997 (55%)</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">54,723</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Source: Financial institution training centre FITC, 2000.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The data shows that as at December 1997, 55% of the staff in commercial banks had experience of over 10 years, while 35% had 3-10 years and lastly only 10% had less than 3years of working experience. And we can conclude that about 90% of staff in commercial banks has 3 and above years of experience and hence have undergone different types of on the job training, as such the quality of human resource in terms of years of experience is encouraging.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Training and human resource quality</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">The number and quality of training courses attended by each staff over time as well as the duration of such course are important determinants of human resource quality. The longer the period/contact hours trainees spend, the faster and more qualitative will be the human resource.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Table 4 Course duration in commercial banks, 1997</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Under 2 weeks</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2 – 3 weeks </span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Above 3 weeks</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Total</span></div></td></tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2,0447</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">2,646</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">692</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 110.7pt;" valign="top" width="148"><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">23,785</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Source: Financial institution training centre FITC, 2000.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">From the table above, majority of staff trained in 1997, were exposed to short courses of less than 2 weeks duration. This may perhaps be due to two reasons, namely; the need to reduce the overall cost of raining, and banks can ill afford to release staff for training period beyond two weeks, as a result of pressure of work. However from the point of view of banks, training should be considered as an investment rather than a cost. And the greater the contact hour trainees were exposed, the more they are likely to acquire relevant competence to cope with their complex and intricate job.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">4. CONCLUSION AND RECOMMENDATIONS</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Human resource development is a crucial factor in explaining the performance of commercial banks in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>. Two important findings are observed in this study. First there is a strong and positive relationship between performance of commercial banks, and human resource development and training. Secondly the quality of commercial banks staff as at 1997 was evaluated using three factors, qualification, years of working experience and course duration. The study found that as at December 1997, about 70% of the staff in commercial banks neither has degree or its equivalent nor do they have any professional qualification. With regards to the working experience 90% of the total staff in commercial banks has at least 3 or more years of working experience. And lastly, courses attended by commercial banks’ staff in 1997 have short duration of less than 2 weeks.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">It is therefore, recommended that, there is the need to improve the quality of human resource in commercial banks through more rigorous training with longer duration and capacity utilization programmes. By and large there is the need to encourage staff to earn higher qualification and join professional bodies so that their skills can be increased and hence they will become more productive and capable of achieving corporate objectives.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">In addition since training expenditure is a significant factor in determining the performance of banks, then, there is the need to increase it, so that the performance can be increased too.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">REFERENCES</span></b></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Dara Dara, J.B (2004) “Human Resource Development and performance of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Tropical Commercial Bank” Unpublished Seminar, </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>BUK, <place w:st="on"><city w:st="on">Kano</city></place>.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Financial <place w:st="on"><placename w:st="on">Institution</placename> <placename w:st="on">Training</placename> <placetype w:st="on">Center</placetype></place> (2000) <u>Issues in Human Resource </u></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><u>Utilization: A study of the Nigerian </u></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><u>Banking Sector.</u> Published by FITC</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Gapsiso, V.H (2001) “Manpower Training and Development in Banks”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-tab-count: 1;"> </span><span style="mso-spacerun: yes;"> </span>Unpublished paper presented on Workshop at TCB </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><place w:st="on"><city w:st="on">Kano</city></place>. </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Grammy, A.P and Assane, D. (1996) “New Evidence on the Effect of</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Human Capital on Economic Growth”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Applied Economic letters, Vol. 4</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Harbison, F.H (1973) <u>Human Resource as Wealth of Nations</u>. <place w:st="on"><city w:st="on">Oxford</city></place> </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>University press.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Itsede, C (2003) “The role of Human Resource Development in NEPAD”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Economic and Financial review, Vol. 41 No. 4</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Mankiw, N.G and Romer, D (1992) “Contribution to the Empirics of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Economic Growth”Quarterly journal of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Economics, vol. CVII, Issue 2, No. 429</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Nyong, M (1986) “Monetary policy and Banks performance in <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>”</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>CBN Economic and Financial review, Vol.34, No. 3</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Odusola, A.Y (1998) Human capital investment and the empirics of </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span>Economic growth. NES Annual conference.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Romer, P. (1987) “Crazy explanations for the productivity slowdown” </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>NBER, Macroeconomic annual.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Salleh, S.H (1992) “Overview of Human Resources Development” Kuala </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Lumpur, Asian Pacific and <place w:st="on"><placename w:st="on">development</placename> <placetype w:st="on">Center</placetype></place>.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Solow, R (1956) A Contribution to the theory of Economic Growth” Quarterly journal of Economics, LXX.</span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;">Stiff, L. (2004) “Training and Evaluation an analysis of talent management” </span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 14pt; line-height: 150%;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><u>http//www.localhost/E/local.htm</u></span></div><div class="MsoNormal" style="line-height: 150%; margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">Appendix</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US">Training Expenditure, Capital employed and Profits before Tax<span style="mso-spacerun: yes;"> </span>1990 – 2003.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><br />
</div><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">Year</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">1</span></b><span lang="EN-US" style="font-size: 14pt;"> Expenditure on Training </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">in Million Naira.</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">2 </span></b><span lang="EN-US" style="font-size: 14pt;">Capital Employed in Million Naira.</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 14pt;">3 </span></b><span lang="EN-US" style="font-size: 14pt;">Profits in Million Naira.</span></div></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1990</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">17.6</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">26625.88</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">31951.05</span></div></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1991</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">21.06</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">28458.32</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">42687.45</span></div></td></tr>
<tr style="mso-yfti-irow: 3;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1992</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">21.726</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">31838.16</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">382005.79</span></div></td></tr>
<tr style="mso-yfti-irow: 4;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1993</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">27.774</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">45232.56</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">50660.47</span></div></td></tr>
<tr style="mso-yfti-irow: 5;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1994</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">29.996</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">590066.44</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">598265.07</span></div></td></tr>
<tr style="mso-yfti-irow: 6;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1995</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">30.726</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">77028.36</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">130948.21</span></div></td></tr>
<tr style="mso-yfti-irow: 7;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1996</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">39.69</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">91755.44</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">137633.16</span></div></td></tr>
<tr style="mso-yfti-irow: 8;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1997</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">37.272</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">11687.50</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">198681.75</span></div></td></tr>
<tr style="mso-yfti-irow: 9;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1998</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">42.648</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">120021.64</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1137415.73</span></div></td></tr>
<tr style="mso-yfti-irow: 10;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">1999</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">38.544</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">128807.24</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">6283372.07</span></div></td></tr>
<tr style="mso-yfti-irow: 11;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2000</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">41.604</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">204247.30</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">7627449.61</span></div></td></tr>
<tr style="mso-yfti-irow: 12;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2001</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">88.438</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">275254.84</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">24144193.65</span></div></td></tr>
<tr style="mso-yfti-irow: 13;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2002</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">111.438</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">391254.84</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">14655345.93</span></div></td></tr>
<tr style="mso-yfti-irow: 14; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 68.4pt;" valign="top" width="91"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">2003</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 117pt;" valign="top" width="156"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">112.987</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 108pt;" valign="top" width="144"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">406305.30</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">16867878.22</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;">Source: 1 Financial institution training Centre, FITC 2003.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US" style="font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>2 and 3 Central Bank of <place w:st="on"><country-region w:st="on">Nigeria</country-region></place>, Research Department, 2004.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt;"><span lang="EN-US"><span style="mso-spacerun: yes;"> </span></span></div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-81098037923382714352011-01-27T12:25:00.000-08:002011-01-27T12:25:17.809-08:00THE ECONOMICS OF WASTE SCAVENGING IN KANO STATE<div align="center" class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: center;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;">Mustapha Muktar, Ph.D</span></span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;">Department of Economics</span></span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;">Bayero University, Kano-Nigeria</span></span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"></span>Introduction</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Throughout the cities of Africa, Asia and <place w:st="on">Latin America</place>, varying number of poor individuals survive by salvaging materials from the waste stream. These people recover the materials to sell for the reuse or recycling as well as diverse items for their own consumption. Those individuals are generally known as ‘scavengers’ or rag pickers and the activity they undertake is called ‘scavenging’</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">(<city w:st="on"><place w:st="on">Medina</place></city> 1997). Scavenging is a labour process involved in the initial collection, purchase, and processing of recoverable material (Loan 2002). Scavengers are not refuse workers and they are not concerned with waste management, they enter into trade for economic reasons, and their relationship with waste is as a resource, they only collect those materials for which there is market.<span style="mso-spacerun: yes;"> </span>Scavenging is a reality in almost all cities of developing countries and in many wealthier nations as well.<span style="mso-spacerun: yes;"> </span>The respective governments have not recognized the economic impact of this activity; on the other hand the academics do not write much scientific analysis on the subject.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">In <country-region w:st="on"><place w:st="on">Nigeria</place></country-region>, like in other developing countries, Scavenging begins with the collection of plastic bags, bottles, papers, cardboards and cans, and mostly it takes place in the informal sector. Scavengers provide informal collection, recovering additional materials at the curve and at dumps and landfills.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">In <city w:st="on"><place w:st="on">Kano</place></city> state the realization of very large dumps of waste tend to attract scavengers locally called “Baban Bola” These scavengers play an important role in the process of waste recycling. They sort out the useful materials like paper, aluminum, glass etc and sell them to the recycling industries.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Unemployed engaged in activities that earn income for their survival and that of their families. The existence of many industries that utilize solid waste as their input is also an important factor that shall encourage scavenging in <city w:st="on"><place w:st="on">Kano</place></city> state. One of the factors responsible for waste scavenging in <city w:st="on">Kano</city> state is the uncompromising stance of the economy and government economic policies for youth; as a result it has become a common scene in <city w:st="on"><place w:st="on">Kano</place></city> state to see youth carrying sacks and sticks while they roam garbage dumps.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>The preoccupation of <city w:st="on"><place w:st="on">Kano</place></city> state government on environmental policy is in the area of environmental sanitation, degradation and pollution control. Hence, one can see that there is no linkage between government formulated policies on environment and the activities of waste scavengers in the state. Government has failed to recognize and formalize scavenging activity in <city w:st="on"><place w:st="on">Kano</place></city> state despite its importance in terms of job creation and income generation to some of the citizens.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The paper therefore, is aimed at finding out the impact of waste scavenging on employment and income generation in <place w:st="on"><city w:st="on">Kano</city></place> state. The scope of the paper is however, narrowed to Kano metropolitan area alone, and Kano metropolitan area consists of six local governments, that is Gwale, Tarauni, Nassarawa, Fagge, Dala, and Kano municipal local Government areas. The paper covered a period (1996 - 2004). The choice of this period is due to the fact that it was after the introduction of structural adjustment programme SAP that scavenging emerged in large scale. One of the limitations of the paper is lack of official records and figures on waste scavenging by relevant authorities like the <city w:st="on"><place w:st="on">Kano</place></city> state, Refuse Management and Sanitation Board (REMASB).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The paper is therefore, organized into four parts, after the introduction<span style="mso-spacerun: yes;"> </span>part two reviewed literature and theoretical issues, part three contain the results and discussion, and the last part contain concluding remarks. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Methodology</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The methodology that is employed is the use of both primary and secondary source of data. The primary data is gathered through oral interview with scavengers. A survey was conducted among scavengers in order to find out the hours they spent and income earned from their activities. Some dump sites were visited so that information was gathered too. Sixty scavengers were interviewed in three types of areas that is residential areas, commercial areas and at dumpsites. Additionally, group discussions were held to enable respondents to talk more freely about their activities and the social conditions. The out come of the interview is analyzed in section three. <span style="mso-spacerun: yes;"> </span>Secondary data was collected through the review of textbooks, journals, published seminar papers, reports of commission the internet and other published materials. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The use of descriptive statistics such as, frequency distribution tables, percentages, ratios and averages on one hand and inferential statistics such as correlation analysis are employed in the course of analyzing the collected data. The adoption of this technique is to find out the average income generated by scavenging as well as the average number of people that are engaged in waste employed by the profession.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Quota sampling is employed in the distribution of respondents from the six local government areas. And ten people were interviewed from each local government. In the local government simple random sampling is used to select the ten people interviewed. These sampling techniques were adopted so that the respondents will have the same chance of being selected. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Literature Review and Theoretical Issues</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Scavenging</span></b><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The picture of scavenging that emerges from reviewing literature is that of an occupation that provides a livelihood for the poor. Scavenging is an important survival strategy in which impoverished individuals coped with scarcity.<span style="mso-spacerun: yes;"> </span>Scavengers typically specialize in recovering only one or a few types of materials from waste. To <city w:st="on"><place w:st="on">Medina</place></city> (1997) Scavenging takes place in all stages along the waste management system that is; source separation at household or place generating waste material; here materials are reused, sold or given away examples old newspapers are used for packing. During collection, scavengers sort out recyclables for sale. Scavengers also retrieve recyclables at dumps, on the streets or public places, in canals and rivers, at landfills prior to burial and purchased source separated recyclables from residents. Scavenging is ubiquitous occurrence throughout the developing world. The World Bank has estimated that up to 2% of the population in third world countries survives by recovering materials from waste. Scavengers salvage materials to sell for recycling, as well as repairable and re-usable items that can sell or use themselves. The recovery of materials from waste by scavengers in developing countries takes place in a wide variety of settings; although the circumstances in which materials are recovered in a particular place may be unique.<span style="mso-spacerun: yes;"> </span>From the above one can say that scavengers source their materials from two major ways that is either sorting or collecting freely from dumps and landfills, or by buying the already sorted materials from households.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The poverty prevalent in most developing countries forces the poor to make the most of the resource available to them. Given their very low incomes, scavenging provides them with reusable and salable materials. In doing so, the poor have developed creative ways in order to satisfy their needs, including the recovery of items not necessarily part of the waste stream:</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>In <country-region w:st="on">Mali</country-region> many farmers search and dig artifacts produced by ancient <place w:st="on"><country-region w:st="on">Mali</country-region></place> empire in order to sell them to art collectors (Brentt, 1994; French, 1995). In <place w:st="on"><city w:st="on">Calcutta</city></place> scavengers work along the rail road tracks in order to recover the pieces of coal that fall from the train (Lapierre, 1985). In <city w:st="on">Cairo</city> scavengers search ox dung for undigested kernels of corn to eat (<place w:st="on"><city w:st="on">Linden</city></place>, 1993). In <country-region w:st="on"><place w:st="on">Vietnam</place></country-region> scavengers dig on agricultural fields and jungles, searching for scrap metal left over from the war (Donohue, 1994). </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Features of scavenging</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The following features can be generalized for scavengers;</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">That is, scavengers are poor relative to the rest of the society, their incomes are low, scavenging is an informal activity and labour intensive in nature, scavenging can render economic and social benefits (such as; work for the unemployed individuals, supply raw materials for industry, and etc), scavenging generate cost to society such as high health risk associated with the type of labour, scavenging supplies raw materials largely to either artisans or industry, in dumpsites located near agricultural areas, scavengers recover organic materials to be used as fertilizers as well as food for goats and pigs (Medina, 1997)</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Economic impacts of scavenging</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Scavenging contributes to reduce the amount of solid waste to be disposed and also helps to save the natural resources that leads to sustainable development. It creates jobs and extra income for people especially the poor. Scavenging encourage family members to sort out materials from wastes in exchange for money. Besides it supply raw materials for a lot of recycling enterprises and this creates more jobs for people as well as useful products for the society.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Scavenging renders economic and environmental benefits, such as providing income to unemployed individuals, supply inexpensive raw materials to industries, reduce the demand for collection, transport and disposal equipment and facilities. Further material recycling has a lower environmental impact that is accelerated by scavengers. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Empirical literature</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Various studies have highlighted the economic significance of scavenging activities. In Bangkok, Jakarta, Kanpur, Karachi, and Manila scavenging saves each city at least U.S $23 million a year in lower imports of raw materials and reduced need for collection, transport and disposal equipment, personnel and facilities. According to some estimates Indonesian scavengers reduce the amount of wastes that need final disposal by one third, which have significant economic and environmental benefits (<city w:st="on"><place w:st="on">Medina</place></city> 1997).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Diaz (2000) argued that Scavenging is a process that is well practiced in developing countries, in fact scavenging is a source of employment, that attempt made to abolish the practice in some cities have been met with strong resistance. Scavengers roam the streets looking for items that can be reused, other scavengers conduct their activities at disposal sites. Generally scavengers have an agreement with a middle man, and the middleman is an individual who has contract with end users, who can process, prepare and sell the quantities of materials desired by users and he provides the scavengers with compensation and in some cases a collection vehicle (e.g. a cart). The families and social background of scavengers are such that scavenging is the only option available to them to earn a living. In most developing countries scavenging played important role on the economic survival of a number of industries (e.g. steel, pulp and paper) <span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Loan (2002) studied the social impacts of solid waste recovery and recycling in <place w:st="on"><city w:st="on">Hanoi</city>, <country-region w:st="on">Vietnam</country-region></place>. The recovery system according to his findings consisted of collectors, buyers and traders. collectors gather materials from three groups of sources; dumping grounds, (dumpsite scavengers, in the public places, (itinerant scavengers) and in-house places (itinerant junk buyers). The materials from scavengers and junk buyers are bought by group of depot operators at dumping grounds and within the city. About 6000 people are working in the scavenging field. They came mainly from the rural areas, the largest group within the labour force are those under 20 years old (25%), adult male (31%), and adult female (44%).the system create jobs and extra income as it mobilizes all family members to work. On the other hand the negative side of the recovery system is that it encourage illegal immigration of rural people into the city to live in a bad condition and hence vulnerable to diseases and epidemics. <span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Adeyemi,<span style="mso-spacerun: yes;"> </span>Olorunfemi and<span style="mso-spacerun: yes;"> </span>Adewoye(2001) examined the role of waste scavengers in the waste recycling process in <place w:st="on"><city w:st="on">Ilorin</city>, <country-region w:st="on">Nigeria</country-region></place>. Using plastic waste as an example, it is demonstrated that such recycling is economically viable The preliminary findings reported indicates that, scavengers have contributed significantly towards the provision and separation of recyclables for the recycling industries, moreover, they are doing their activities in an informal setting. Scavenging is a source of employment to poor people. They finally recommended that, the waste scavenger could be incorporated formally into the recycling process. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Ado (1998) studied the economic importance of solid wastes in Kano metropolis his findings showed<span style="mso-spacerun: yes;"> </span>that on the average<span style="mso-spacerun: yes;"> </span>scavengers that buy recyclables from households generate an income that is equivalent to 50% of the cost of purchase (e.g. for each recyclable they bought at N1.00, they would get 50k as profit). He went a head to conclude that scavenging provided employment to youth that are hitherto not employed, besides these scavengers have been responsible for the separation of waste materials and in some cases upgrading it through washing for the recycling industries. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">In an effort to study the recycling efforts of industries in Kano Adisa (2000) studied 60 respondents and find out that; the scavengers in <city w:st="on"><place w:st="on">Kano</place></city> state are not organized in any formal way, yet their contribution to economic growth is significant. The scavengers are of two type namely; the primary and secondary scavengers. The secondary scavenger gave the primary scavenger a token amount of money to buy recyclables from the neighboring areas and in return, the materials are weighed and priced accordingly. A kilogram of rubber shoes or plastic on the average costs N22 – N30, and the companies that recycle these materials includes Balley plastic, and Standard plastic. On the average a secondary scavenger employ 6 primary scavengers or more, by doing this, a lot of youth are employed by the profession. On the problem that is facing scavengers he found out that; scavengers do not receive any assistance from the government, and the worst of all is that government levy heavy taxes on the secondary scavengers who are mostly salvage dealers.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Urbanization </span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Urbanization refers to a process in which an increasing proportion of an entire population lives in cities and the suburbs of cities. Historically it has been closely connected with industrialization. When more and more inanimate sources of energy were used to enhance human productivity, surpluses increased in both agriculture and industry. Larger and larger proportions of population could live in cities. Economic forces were such that cities became the ideal places to locate factories and their workers (Grand & Robinson, 1980)</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">A city refers to a place of relatively dense settlement, dense enough so that city residents can not grow their own food. Not until agriculture developed could hinterlands provide food for their own population and enough surpluses to feed a city population. Over the years, economic growth of a country, a region or a population, has relied on the development of cities. In fact, cities have two functions: a production function and a cultural one (Fabry 1999).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Lovelock and Margulis (1976) in Botkin & Keller (1998) posits that non human life affects the environment of our planet and has changed it over the course of several billion years. In the course of explaining the theory of urbanization they coined what is referred to as the Gaia Hypothesis. The hypothesis proposed that earth and all living things form a single system, with interdependent parts, communication among these parts and the ability to self regulate, the environment has been profoundly changed by life over the history of life on earth and that these changes have tended to improve the environment for life. Human actions have begun to change the environment at global level.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Partly a result of the rapid growth of human population, and changes in technology, we are becoming an urban species, and our effects on environment are more and more the effects of urban life. With economic development comes urbanization. People move from farms to cities and then perhaps to suburbs. Cities and towns increase in size. Urbanization therefore, is characterized by the following;</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Increasing population</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Environmental pollution and Degradation </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Prevalence of unemployment and poverty<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">High rate of crime and other social problems.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">In most urban areas the population is so high that such that it exceeds the productive capacity of the cities, unemployment is thus inevitable, and that leads to poverty since most of the unemployed appear to be dependents with little or no income. The prevalence of poverty leads to environmental degradation in form of indiscriminate dumping of waste materials, poor drainage system, air pollution and even deforestation. Goodall (1972) observed a cyclical relationship between urbanization, unemployment, poverty and environmental degradation. He argued that the poor degrades the environment more than the rich and as a result of urbanization immigrants and poor people have over utilized the natural resources and sometimes even resort to such activities that do not require any skill or capital like informal waste recovery(scavenging) so as to supplement their incomes and earn a living.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>As <city w:st="on"><place w:st="on">Medina</place></city> (1997) observed that, as long as poverty and garbage exist in combination, waste scavenging and recycling are likely to prevail and the reality of these system can be seen as basis for development.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Scavenging and Surplus Value </span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Birkbeck (1979) analyzed the labour relations of scavengers of <city w:st="on"><place w:st="on">Columbia</place></city> using the Marxist perspective. He described the situation in terms of self employed informal sector workers, who like factory laborers, engaged in piece work of which the surplus benefited the middlemen. The relationship between scavengers, the middlemen (salvage dealers) and factories can however, be characterized as Patron – client relationship based on mutual trust and cemented by rather stable product delivery and money lending patterns. These relations reduce the vulnerability of the scavengers by Guaranteeing a certain security of living, albeit at a low standard, as the middleman use this dependence to fix prices of the recovered materials at very low level. Because of this basic survival strategy, the scavenging system was describe by Singular (1992) as hunting and gathering societies, who survive under conditions of common source exploitation. They gather ‘ores’ and hunt for ‘valuables’ in the same way as hunters and gatherers use forests and planes. The exploitation of scavengers by middlemen occurs through market relations and not by means of employment relations as in a capitalist industrial setting. The informal production relations of scavengers are intertwined with the formal sector since they paid various types of taxes to government. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Waste scavenging in <place w:st="on"><city w:st="on">Kano</city></place> state represents an adaptive response to chronic poverty, however the benchmark appeared to be the structural adjustment programme (SAP), when barn was impose for the importation of some industrial inputs with the objective of making the economy to be diversified and self reliant. Waste scavenging in <city w:st="on"><place w:st="on">Kano</place></city> state has contributed to the development of the informal sector by providing a labour-intensive, low technology and low paid activity. scavenging have also rendered economic and environmental benefits such as work for unemployed individuals, supply of cheap raw materials to industries, reduces the demand and cost for waste collection, transport and disposal equipment facilities. <b style="mso-bidi-font-weight: normal;"></b></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Urbanization is applicable to this research work since <city w:st="on"><place w:st="on">Kano</place></city> state is an urban area characterized by high population, unemployment, poverty, environmental degradation and the prevalence of industrial enclaves. A lot of people are coming into the city of <city w:st="on"><place w:st="on">Kano</place></city> in search for jobs and that makes it more and more urban. Waste scavenging evolves due to the prevalence of dump sites and some industries that utilized recyclables as part of their input requirements. The exploitative relationship between scavengers and middle men is a true reflection of the case here in <city w:st="on"><place w:st="on">Kano</place></city> sate.<b style="mso-bidi-font-weight: normal;"></b></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Results and Discussion</span></b><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">As have been mentioned in the methodology a total of sixty scavengers were interviewed, this section will present and analyze the responses. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Scavengers’ profile</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The profile of scavengers interviewed is represented in Fig 3.1</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><shapetype coordsize="21600,21600" filled="f" id="_x0000_t75" o:preferrelative="t" o:spt="75" path="m@4@5l@4@11@9@11@9@5xe" stroked="f"><stroke joinstyle="miter"></stroke><formulas><f eqn="if lineDrawn pixelLineWidth 0"></f><f eqn="sum @0 1 0"></f><f eqn="sum 0 0 @1"></f><f eqn="prod @2 1 2"></f><f eqn="prod @3 21600 pixelWidth"></f><f eqn="prod @3 21600 pixelHeight"></f><f eqn="sum @0 0 1"></f><f eqn="prod @6 1 2"></f><f eqn="prod @7 21600 pixelWidth"></f><f eqn="sum @8 21600 0"></f><f eqn="prod @7 21600 pixelHeight"></f><f eqn="sum @10 21600 0"></f></formulas><path gradientshapeok="t" o:connecttype="rect" o:extrusionok="f"></path><lock aspectratio="t" v:ext="edit"></lock></shapetype><shape id="_x0000_i1025" style="height: 258.75pt; width: 315pt;" type="#_x0000_t75"><imagedata o:title="" src="file:///C:\Users\DRAA4B~1.MUS\AppData\Local\Temp\msohtmlclip1\01\clip_image001.emz"></imagedata></shape></span></div><div class="MsoCaption" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Out of the total number of 60 scavengers interviewed 54 are males while only 6 are females. Since respondents are selected at random, it can be deduced that scavenging in <city w:st="on"><place w:st="on">Kano</place></city> state is not equally divided between mal and female, this account for bias in favor of males. The bias may perhaps be due to the culture and religion that is prevailing in the study area which restrict females especially married women from coming out to scavenge for useful materials. The above figure also showed that 75% of the respondents are 30 years old or younger. Of this young workforce 30% of the sample was children of 15 years or less. The drop-out rate from the workforce particularly is pronounced at the age of 45. An explanation for this phenomenon may be that, scavenging is a profession that requires young and energetic people who can work the length and breadth of the city to search for useful materials. No female scavenger was recorded from the age of 15 years or less.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The illiteracy rate among the respondents was 70%. Only 18 scavengers had some knowledge of formal education and they are all primary school drop outs between classes 2 – 5.therefore, we can conclude that scavenging in <city w:st="on"><place w:st="on">Kano</place></city> state is practiced mainly by those with no formal education. Another important finding is the dominance of immigrants from villages in to the profession. All the 60 scavengers interviewed are however, Muslims and this may be due to the location of the study area.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Reason for waste scavenging</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The various reasons that attracted the people into scavenging are represented by Fig. 3.2 below</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Fig. 3.2</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><br clear="all" style="mso-special-character: line-break;" /></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">From the chart above, we can see 38% of the sampled scavengers are into the profession due to income and employment it provides to them, 27% joined scavenging due to poverty, while 20% are due to their low social status which includes lack of shelter, education orientation and parental care. The last category practiced scavenging due to personal interest, by chance and some of them say they don’t know the reason. 65% are into scavenging because of economic reasons (poverty, income and employment). Majority of the waste pickers lived with their families and contributed to household income. It was observed that young children usually accompanied their mothers from an early age. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Types and composition and of materials recovered</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Table 3.2 </span></b><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Composition of domestic waste in <city w:st="on"><place w:st="on">Kano</place></city> metropolitan area</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; margin: auto auto auto 36pt; mso-border-alt: solid windowtext .5pt; mso-border-insideh: .5pt solid windowtext; mso-border-insidev: .5pt solid windowtext; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 122.4pt;" valign="top" width="163"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Materials</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">% Composition.</span></div></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 122.4pt;" valign="top" width="163"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Plastic/Rubber</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">32.3</span></div></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 122.4pt;" valign="top" width="163"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Metals/Iron</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">26.7</span></div></td></tr>
<tr style="mso-yfti-irow: 3;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 122.4pt;" valign="top" width="163"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Glass Bottles</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">15.10</span></div></td></tr>
<tr style="mso-yfti-irow: 4; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 122.4pt;" valign="top" width="163"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Others</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 135pt;" valign="top" width="180"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">25.9</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Source: PAI Associates (2003)</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">From the above table it can be seen that the major type of materials recovered by scavengers are plastics, metals, glass bottles and other. The materials categorized under others were identified to be old car batteries, used grain bags, papers, rags, wood, and so on. The source were the scavengers got these materials are mainly two; namely open dumps that are considered to be no man’s land and households. In case of materials from the households a token amount is being given in exchange for a recyclable material, sometimes new plastic plate, matches box, are given to the household members in exchange (Adisa, 2000).</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Average hours worked</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Working hour in any profession is very crucial in determining the extent to which a particular economic activity contributed towards employment provision.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Table 3.4 hours worked by scavengers.</span></div><table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-border-insideh: .5pt solid windowtext; mso-border-insidev: .5pt solid windowtext; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 480;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 104.4pt;" valign="top" width="139"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Hours worked</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Frequency</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">percentage</span></div></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 104.4pt;" valign="top" width="139"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Less than 3hrs</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">12</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">20</span></div></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 104.4pt;" valign="top" width="139"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">4 – 6 hrs.</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">16</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">27</span></div></td></tr>
<tr style="mso-yfti-irow: 3;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 104.4pt;" valign="top" width="139"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">6 – 12 hrs.</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">32</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">53</span></div></td></tr>
<tr style="mso-yfti-irow: 4; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 104.4pt;" valign="top" width="139"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Total</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">60</span></div></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 81pt;" valign="top" width="108"><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">100</span></div></td></tr>
</tbody></table><br />
<div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Source: </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Field Survey, 2005</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">From the table above we can see that 20% of the sampled scavengers worked for 3 hours or less, 27% worked for 4 – 6 hours, while 53% worked for 6 – 12 hours. It can be concluded therefore, that more than half of the scavengers worked for the whole day. It was observed that on the average scavengers worked between the hours of 8am to 6pm that is 10 hours in a day.<b style="mso-bidi-font-weight: normal;"></b></span></div><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt;"></span></b></h1><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt;"></span></b></h1><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt;"></span></b></h1><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt;"></span></b></h1><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt;"></span></b></h1><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt;"></span></b></h1><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;"><span style="mso-spacerun: yes;"> </span>Average price of materials collected by scavengers</span></span></b></h1><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-bottom: medium none; border-collapse: collapse; border-left: medium none; border-right: medium none; border-top: medium none; mso-border-alt: solid windowtext .5pt; mso-border-insideh: .5pt solid windowtext; mso-border-insidev: .5pt solid windowtext; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt;"><tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 194.4pt;" valign="top" width="259"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Type of Materials</span></span></h1></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: windowtext 1pt solid; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 153pt;" valign="top" width="204"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Price in Naira.</span></span></h1></td></tr>
<tr style="mso-yfti-irow: 1;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 194.4pt;" valign="top" width="259"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Plastic</span></span></h1></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 153pt;" valign="top" width="204"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">30 per kg</span></span></h1></td></tr>
<tr style="mso-yfti-irow: 2;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 194.4pt;" valign="top" width="259"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Metal/iron</span></span></h1></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 153pt;" valign="top" width="204"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">55 per kg</span></span></h1></td></tr>
<tr style="mso-yfti-irow: 3;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 194.4pt;" valign="top" width="259"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Used 5litre plastic gallon</span></span></h1></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 153pt;" valign="top" width="204"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">10 per 1</span></span></h1></td></tr>
<tr style="mso-yfti-irow: 4;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 194.4pt;" valign="top" width="259"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Old car battery</span></span></h1></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 153pt;" valign="top" width="204"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">50 per 1</span></span></h1></td></tr>
<tr style="mso-yfti-irow: 5; mso-yfti-lastrow: yes;"><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 194.4pt;" valign="top" width="259"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Sot drinks bottles</span></span></h1></td><td style="background-color: transparent; border-bottom: windowtext 1pt solid; border-left: #f0f0f0; border-right: windowtext 1pt solid; border-top: #f0f0f0; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding-bottom: 0cm; padding-left: 5.4pt; padding-right: 5.4pt; padding-top: 0cm; width: 153pt;" valign="top" width="204"><h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">5 per 1</span></span></h1></td></tr>
</tbody></table><br />
<h1 style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-size: 12pt;"><span style="font-family: Arial;">Extracted From Ahmed 2005</span></span></h1><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif'; mso-fareast-font-family: SimHei;">The table above presents the prices of various type of recovered materials by scavengers state, these prices are however, offered by the salvage dealers who later take the products to the recycling enterprises. These salvage dealers are located at specific depots in Kofar Wambai, Sharada, Jakara, Dakata and Tudun Murtala areas all in Kano metropolis. Metals/Iron and Old car battery have a higher value and hence a higher earning potential. Soft drinks bottles though are very heavy have a lowest price. Plastic and used plastic gallon however, have moderate price. The average quantity of waste materials collected by a scavenger in a day was estimated to be 15kg. The average daily income of a scavenger was estimated to be N400; it was also observed that male scavengers earn more than their female counterparts. Finally it was discovered that in some cases scavengers recovered materials and used it for their personal use, these materials include fire wood and clothes. It should be noted that the items that are recovered and used for personal consumption by scavengers are not included in the estimation of scavengers total earnings.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif'; mso-fareast-font-family: SimHei;">A correlation analysis was conducted in order to find out the factors tthat determines the income of scavengers. Hour of work and earnings were tested, and the coefficient of correlation showed that the two variables are uncorrelated at all. Age of scavengers and earnings were tested too, and it was found out that the correlation was very negligible. A strong relationship was however, observed between area of operation and earnings of scavengers. In higher income areas like the government reserve areas (GRA) scavengers found more useful materials in dumps, this is due to the fact that households located in higher income areas do not care to collect useful materials from their waste before discharge, by and large their consumption pattern and nature of the products consumed is another contributing factor. These findings suggest that scavenging is an unorganized activity that requires little or no skill.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif'; mso-fareast-font-family: SimHei;">Estimated income Generated by scavengers in Kano state</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif'; mso-fareast-font-family: SimHei;">Estimating the total in come generated by scavengers is constrained by the lack of official figures on the total number of scavengers in the state. Attempt to find the total number of scavengers in the state was made by Abubakar (2005) where he estimated that about two thousand or more people are being employed by scavenging. Now assuming the earlier estimated 15kg. of materials collected by one scavenger in a day, and using the estimated average income of N400 earned by a scavenger in a day we can now estimate the monthly income of a scavenger to be equal to N12000. The monthly income is however above the minimum wage paid by the state civil service. This finding is consistent with that of <city w:st="on">Medina</city> (2003) where he found out that in <city w:st="on">Cairo</city> scavengers earn three times the minimum wage, and in Mexican city of <city w:st="on"><place w:st="on">Nuero Laredo</place></city> scavengers earn five times the minimum wage.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif'; mso-fareast-font-family: SimHei;">Using the figure 2000 for the total scavengers in <city w:st="on"><place w:st="on">Kano</place></city> state then, scavengers will generate an annual income of 22million Naira.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif'; mso-fareast-font-family: SimHei;">Problems faced by scavengers.</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">One economic problem facing scavengers in the state is the issue of multiple taxes levied to them by both the local governments and the state Ministry of Environment. It was discovered government officials harass scavengers and claimed that they are responsible for littering areas. Taxes are levied directly on the salvage dealers. A salvage dealer was quoted to have said “imagine that they (Ministry of environment) are accusing us of littering the place with junks, where as we are the ones who are assisting them in reducing the massive mountains of refuse in the sate (Abubakar, 2005). Due the low bargaining power and the unorganized nature of scavenging, part or the entire tax burden is passed to the scavengers. This finding is consistent with that of Adisa (2000) and Muktar (2001). <span style="mso-spacerun: yes;"> </span>The surplus value analysis as applied by Birbeck (1979) and Singular (1992) have explained this phenomenon.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The health of scavengers is however, vulnerable to disease, as garbage dumps contain sharp objects like home use syringes, razor blade, broken bottles and pieces of metals which could easily harm anyone that is not careful and can result into contacting HIV/AIDS, hepatitis, tetanus or even result to death. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>When scavengers were asked whether they need any government assistance, all those interviewed said government should help to provide necessary working materials such as Hand gloves, masks, rubber boots, wheel barrows and small Capital so that their vulnerability to diseases can be reduced and the collection made efficient. </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Conclusion and Recommendations</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Conclusion</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Waste scavenging in <city w:st="on"><place w:st="on">Kano</place></city> state arises mainly due to the existence of waste dumps and recycling enterprises on one hand, and the income earned as well as poverty on the other hand. Scavenging as an informal activity has employed over 2000 people in <city w:st="on"><place w:st="on">Kano</place></city> state. The average monthly income earned by a scavenger is found to be above the minimum wage paid by <city w:st="on"><place w:st="on">Kano</place></city> sate government. The number of children below the age of 15 working as scavengers can be seen as child labour, though poverty is what necessitates them to be engaged. Scavengers have face problems of multiple taxes and vulnerability to disease, hence they need government assistance.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"><span style="mso-spacerun: yes;"> </span>Recommendations</span></b></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">The followings are recommended;</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">One major problem facing scavengers is the informality of their profession and lack of bargaining power. It is recommended that scavengers should form cooperatives so that they can pool their efforts and resources together and bargain collectively, Government and non governmental organizations should therefore; enlighten them through seminars, and campaigns. Scavenger cooperatives have been practiced in Latin American countries and have succeeded.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; text-align: justify;"><place w:st="on"><city w:st="on"><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';">Kano</span></city></place><span lang="EN-US" style="font-family: 'Tahoma','sans-serif';"> state government should mediate on the taxes charged by local governments and the state Ministry of environment so that scavengers can be made to pay a single and realistic tax. Attached to this point is the need for the state government to encourage scavenging and make the profession less vulnerable and more efficient, this can take the form of provision of necessary working equipments like hand globes, boots, wheel barrows and <span style="mso-spacerun: yes;"> </span>capital.</span></div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com1tag:blogger.com,1999:blog-5080086240945615763.post-80897372744078236182011-01-26T12:14:00.000-08:002011-01-26T12:14:16.056-08:00IMPACT OF TRANSPORTATION ON ECONOMIC GROWTH: AN ASSESSMENT OF ROAD AND RAIL TRANSPORT SYSTEMS<div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Mustapha Muktar, Ph.D</span></b></div><div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Department of Economics</span></b></div><div align="center" class="MsoNoSpacing" style="margin: 0cm 0cm 0pt; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US">Bayero University, Kano-Nigeria</span></b></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt;"><br />
</div><div align="left" class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: left;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 200%;"><strong>INTRODUCTION</strong></span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">One of the key factors that play a pivotal role in a region’s economic growth is the presence of a reliable and efficient transportation system, this is mainly due to the fact that a well developed transportation system provides adequate access to the region which in turn is a necessary condition for the efficient operation of manufacturing, retail, labour and housing markets.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Transportation is a critical factor in the economic growth and development. It is a wealth creating industry on its own inadequate transportation limits a nation’s ability to utilise its natural resources, distributes foods and other finished goods, integrate the manufacturing and agriculture sectors and supply education, medical and other infrastructural facilities. There is the need therefore to maintain and improve the existing transportation and build new infrastructures for a national wealth. The national wealth is the growth domestic products (GDP) which is an indicator or measures of the rate of economic growth.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Transportation infrastructure is critical to sustain economic growth because people want to improve their standard of living and they see<span style="mso-spacerun: yes;"> </span>increased income as the way to achieve that goal, transportation system enhancement are in turns a means of maintaining or improving economic opportunities, quality of life and ultimately income for people in a particular region Lucas (1998)</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Transportation also has a broader role in shaping development and the environment. Policy concerns in the next millennium will increasingly focus on the effects of transportation on where people live and on where businesses locate; and on the effects that these location decisions have on land use patterns, congestion of urban transportation systems, use of natural resources, air and water quality, and the overall quality of life Issues of urban sprawl, farmland preservation, and air and water quality have already pushed their way to the forefront of policy debates at both the national and local levels. To make prudent decisions, policy makers must be equipped with the best information and analysis possible about the interactions among these various factors. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Transportation becomes the back bone of any economy, especially countries like Nigeria, as such an anatomy of aspects relating to inefficiencies and lack of good transportation network in Nigeria coupled with low rate of economic growth (GDP) is crucial, attached to this is the poor government policy on transportation (Lack pf regulation of fees charged by private transporters, inadequate fuel. Lack of spare parts and above all the prevalence of bad roads and lack of security have succeeded in trimming down the transport system in Nigeria which have a negative effect on the economic growth.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt 36pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Investment in transportation infrastructure is critical to sustained economic growth. Mobility studies show that transportation is absolutely essential to economic productivity and remains competitive in the global economy. An international study found every 10 percent increase in travel speed; labour market expands 15 percent and productivity by 3 percent (Barrister and Berechinan. 2000). </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">It is universally recognized that transport is crucial for sustained economic growth and modernization of a nation. Adequacy of this vital infrastructure is an important determinant of the success of a nation's effort in diversifying its production base, expanding trade and linking together resources and markets into an integrated economy. It is also necessary for connecting villages with towns, market centres and in bringing together remote and developing regions closer to one another. Transport, therefore, forms a key input for production processes and adequate provision of transport infrastructure and services helps in increasing productivity and lowering production costs.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">The provision of transport infrastructure and services helps in reducing poverty. It needs no emphasis that various public actions aimed at reducing poverty cannot be successful without adequate transport infrastructure and services. It is difficult to visualize meeting the targets or universal education and healthcare for all without first providing adequate transport facilities. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">All sectors, including transport, operate within the socioeconomic framework provided by the State. Specific policies are designed within the framework for each sector in order to, meet national goals and objectives. Currently, the main objective of development planning in India is higher growth in Gross Domestic Product (GDP). The aim is to achieve a target of 8 percent growth in GDP by 2007, i.e. by the end of Tenth Five Year Plan. The higher rate of economic growth must also be accompanied by wider dispersal of economic activity and has to go together with the objectives of reduction in poverty, provision of gainful and high quality employment, improvement in literacy rates, reduction in the growth of population, reduction in gender inequality in illiteracy and wage rate, reduction in infant mortality, etc. As a service industry, transport does not exist for its own sake. It serves as a means to achieve other objectives. In formulating policy for the development of the transport sector, various macro objectives mentioned above therefore have to be taken into account. Some of these are economic in character while others are of a socio-political nature. Economic and non-economic objectives are not always consistent. However, their mix is one of the important factors which determine the pattern of investment and its funding in various sectors of economy. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Transport demand, both freight and passenger, is linked to the level of economic activity and development needs. It runs parallel to the growth of GDP. A higher rate of growth will therefore mean higher transport demand. <span style="mso-spacerun: yes;"> </span>However, as growth of GDP results in dispersal of economic activity, the demand for transport will go up further. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">The demand for transport services is also affected by the structural changes that are taking place in the Indian economy. As a result, the share of high value low volume commodities has been increasing, which in turn demands more flexible modes such as road transport. There has been an increase in the level of urbanization owing to migration and growth of population. The share of urban areas in the total GDP therefore has been on the rise. Such a spatial shift in the distribution and concentration of economic activity has a profound effect on the nature and level of transport demand. The most obvious result was the increase in demand for urban transport services. Taking various factors into account, it is expected that the elasticity of demand for freight traffic with respect to GDP growth will decline in the future but will still he more than one. With India's resolve to move to a higher growth path, it means that the demand for transport will continue to experience a high growth rate. </span></div><div align="left" class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: left;"><br />
</div><div align="left" class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: left;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 200%; mso-bidi-font-weight: normal;"><strong>TRANSPORTATION AND ECONOMIC GROWTH</strong></span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Transportation also contributes to the economy by providing millions of jobs. It allows men and women to earn their living by manufacturing vehicles and by driving, maintaining, and regulating them to allow for the safe and efficient movement of goods and people. One out of every seven jobs in the United States is transportation related Transportation jobs in transportation industries as well as in non-transportation industries employed nearly 20 million people in 2002, accounting for 16 percent of U.S. total occupational employment. For example, the for-hire transportation sector employed over 44 million workers In 2002 More than 60 percent of these for-hire workers are either in freight-related occupations or in Jobs that directly support freight transportation. An additional 1.7 million workers are employed in transportation equipment manufacturing and another 4.5 million in transportation-related industries such as automotive service and repair, highway construction, and motor vehicle and parts dealers (USDOT BTS 2004). Transportation-related occupations also make up a significant portion of the employment of non-transportation industries such as truck drivers, freight arrangement agents, and freight-moving workers in the wholesale and retail industries. In 2002, there were about 9.2 million people employed in transportation-related occupations in non-transportation industries.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Growth in productivity is the fundamental driving force for economic growth Productivity growth in freight transportation has long been a driving force for the growth of U.S. overall productivity and contributed directly to the growth of the U.S. GDP. For example, from 1991 to 2000 labor productivity rose 21 percent in the overall non-farm business sector' During the same time period, labor productivity rose 53 percent for rail, 23 percent for trucking, and 143 percent for pipeline. All three of these modes are primarily engaged in freight transportation. Such productivity gains result in lower transportation costs and lower prices for consumers. This brings savings to consumers and reduces business costs. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 200%; mso-bidi-font-weight: normal;"><strong>Measuring Economic Benefits of Transportation</strong></span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">If all of the steps described above were followed, planners and policy makers would be left with a list of investments that have the potential to generate economic benefits. The three part analysis is shown in Figure A-7 provide a reasonable comprehensive analysis of each project’s likely contribution to economic development.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">When a highway improvement is proposed, the economic evaluation must first identify which industries will be impacted. This involves the following sequence of three analytical steps within the Commodity Flow analysis.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt 36pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">1.<span style="mso-tab-count: 1;"> </span>Locate the improvement on the highway or rail network.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt 72pt; text-align: justify; text-indent: -36pt;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">2.<span style="mso-tab-count: 1;"> </span>Identify what commodities are being shipped and person trips on the roadway that will have the proposed improvements and forecast the growth of these commodities.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt 72pt; text-align: justify; text-indent: -36pt;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">3.<span style="mso-tab-count: 1;"> </span>Locate the origins and destinations of these commodities and identify the industries that are involved in shipping and receiving.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 200%; mso-bidi-font-weight: normal;"><strong>Road Transport</strong></span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">An <a href="http://en.wikipedia.org/wiki/Automobile" title="Automobile"><span style="color: windowtext; text-decoration: none; text-underline: none;">automobile</span></a> is a <a href="http://en.wikipedia.org/wiki/Wheel" title="Wheel"><span style="color: windowtext; text-decoration: none; text-underline: none;">wheeled</span></a> <a href="http://en.wikipedia.org/wiki/Passenger" title="Passenger"><span style="color: windowtext; text-decoration: none; text-underline: none;">passenger</span></a> <a href="http://en.wikipedia.org/wiki/Vehicle" title="Vehicle"><span style="color: windowtext; text-decoration: none; text-underline: none;">vehicle</span></a> that carries its own <a href="http://en.wikipedia.org/wiki/Car_engine" title="Car engine"><span style="color: windowtext; text-decoration: none; text-underline: none;">motor</span></a>. Different types of automobiles include cars, <a href="http://en.wikipedia.org/wiki/Bus" title="Bus"><span style="color: windowtext; text-decoration: none; text-underline: none;">buses</span></a>, <a href="http://en.wikipedia.org/wiki/Truck" title="Truck"><span style="color: windowtext; text-decoration: none; text-underline: none;">trucks</span></a>, and <a href="http://en.wikipedia.org/wiki/Van" title="Van"><span style="color: windowtext; text-decoration: none; text-underline: none;">vans</span></a>. Some include <a href="http://en.wikipedia.org/wiki/Motorcycles" title="Motorcycles"><span style="color: windowtext; text-decoration: none; text-underline: none;">motorcycles</span></a> in the category, but cars are the most typical automobiles. As of 2002 there were 590 million passenger cars worldwide (roughly one car for every ten people), of which 170 million in the <a href="http://en.wikipedia.org/wiki/United_States" title="United States"><span style="color: windowtext; text-decoration: none; text-underline: none;">U.S.</span></a> (roughly one car for every two people).Wikipedia, (2007) </span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">The automobile was thought of as an environmental improvement over horses when it was first introduced in the 1890s. Before its introduction, in <a href="http://en.wikipedia.org/wiki/New_York_City" title="New York City"><span style="color: windowtext; text-decoration: none; text-underline: none;">New York City</span></a> alone, more than 1,800 tons of <a href="http://en.wikipedia.org/wiki/Manure" title="Manure"><span style="color: windowtext; text-decoration: none; text-underline: none;">manure</span></a> had to be removed from the streets daily, although the manure was used as natural <a href="http://en.wikipedia.org/wiki/Fertilizer" title="Fertilizer"><span style="color: windowtext; text-decoration: none; text-underline: none;">fertilizer</span></a> for <a href="http://en.wikipedia.org/wiki/Crops" title="Crops"><span style="color: windowtext; text-decoration: none; text-underline: none;">crops</span></a> and to build top soil. In 2006, the automobile is recognized as one of the primary sources of world-wide <a href="http://en.wikipedia.org/wiki/Air_pollution" title="Air pollution"><span style="color: windowtext; text-decoration: none; text-underline: none;">air pollution</span></a> and a cause of substantial <a href="http://en.wikipedia.org/wiki/Noise_pollution" title="Noise pollution"><span style="color: windowtext; text-decoration: none; text-underline: none;">noise pollution</span></a> and adverse <a href="http://en.wikipedia.org/wiki/Health_effects" title="Health effects"><span style="color: windowtext; text-decoration: none; text-underline: none;">health effects</span></a>.</span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">The first forms of road transport were <a href="http://en.wikipedia.org/wiki/Horse" title="Horse"><span style="color: windowtext; text-decoration: none; text-underline: none;">horses</span></a>, <a href="http://en.wikipedia.org/wiki/Ox" title="Ox"><span style="color: windowtext; text-decoration: none; text-underline: none;">oxen</span></a> or even humans carrying goods over <a href="http://en.wikipedia.org/wiki/Soil" title="Soil"><span style="color: windowtext; text-decoration: none; text-underline: none;">dirt</span></a> tracks that often followed <a href="http://en.wikipedia.org/wiki/Game_%28food%29" title="Game (food)"><span style="color: windowtext; text-decoration: none; text-underline: none;">game</span></a> <a href="http://en.wikipedia.org/wiki/Trail" title="Trail"><span style="color: windowtext; text-decoration: none; text-underline: none;">trails</span></a>. As commerce increased, the tracks were often flattened or widened to accommodate the activities. Later, the <a href="http://en.wikipedia.org/wiki/Travois" title="Travois"><span style="color: windowtext; text-decoration: none; text-underline: none;">travois</span></a>, a frame used to drag loads, was developed. The <a href="http://en.wikipedia.org/wiki/Wheel" title="Wheel"><span style="color: windowtext; text-decoration: none; text-underline: none;">wheel</span></a> came still later, probably preceded by the use of <a href="http://en.wikipedia.org/wiki/Timber" title="Timber"><span style="color: windowtext; text-decoration: none; text-underline: none;">logs</span></a> as <a href="http://en.wikipedia.org/wiki/Cylindrical" title="Cylindrical"><span style="color: windowtext; text-decoration: none; text-underline: none;">rollers</span></a>.</span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">With the advent of the <a href="http://en.wikipedia.org/wiki/Roman_Empire" title="Roman Empire"><span style="color: windowtext; text-decoration: none; text-underline: none;">Roman Empire</span></a>, there was a need for armies to be able to travel quickly from one area to another, and the roads that existed were often muddy, which greatly delayed the movement of large masses of troops. To resolve this issue, the Romans built great roads. The <a href="http://en.wikipedia.org/wiki/Roman_road" title="Roman road"><span style="color: windowtext; text-decoration: none; text-underline: none;">Roman roads</span></a> used deep roadbeds of crushed stone as an underlying layer to ensure that they kept dry, as the water would flow out from the crushed stone, instead of becoming mud in clay soils.</span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">During the <a href="http://en.wikipedia.org/wiki/Industrial_Revolution" title="Industrial Revolution"><span style="color: windowtext; text-decoration: none; text-underline: none;">Industrial Revolution</span></a>, and because of the increased commerce that came with it, improved roadways became imperative. The problem was rain combined with dirt roads created commerce-miring mud. <a href="http://en.wikipedia.org/wiki/John_Loudon_McAdam" title="John Loudon McAdam"><span style="color: windowtext; text-decoration: none; text-underline: none;">John Loudon Mac Adam</span></a> (1756-1836) designed the first modern highways. He developed an inexpensive paving material of soil and stone aggregate (known as <a href="http://en.wikipedia.org/wiki/Macadam" title="Macadam"><span style="color: windowtext; text-decoration: none; text-underline: none;">macadam</span></a>), and he embanked roads a few feet higher than the surrounding terrain to cause water to drain away from the surface. </span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><br />
</div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">Various systems had been developed over centuries to reduce bogging and dust in cities, including <a href="http://en.wikipedia.org/wiki/Cobblestone" title="Cobblestone"><span style="color: windowtext; text-decoration: none; text-underline: none;">cobblestones</span></a> and wooden paving. Tar-bound macadam (<a href="http://en.wikipedia.org/wiki/Tarmac" title="Tarmac"><span style="color: windowtext; text-decoration: none; text-underline: none;">tarmac</span></a>) was applied to macadam roads towards the end of the 19th century in cities such as <a href="http://en.wikipedia.org/wiki/Paris" title="Paris"><span style="color: windowtext; text-decoration: none; text-underline: none;">Paris</span></a>. In the early 20th century tarmac and concrete paving were extended into the countryside.<a href="" name="Types_of_Road_Transportation_Services"></a></span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">Transport on roads can be roughly grouped into two categories: transportation of goods and transportation of people. In many countries licensing requirements and safety regulations ensure a separation of the two industries.</span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">The nature of road transportation of goods depends, apart from the degree of development of the local infrastructure, on the distance the goods are transported by road, the weight and volume of the individual shipment and the type of goods transported. For short distances and light, small shipments a <a href="http://en.wikipedia.org/wiki/Van" title="Van"><span style="color: windowtext; text-decoration: none; text-underline: none;">van</span></a> or <a href="http://en.wikipedia.org/wiki/Pickup_truck" title="Pickup truck"><span style="color: windowtext; text-decoration: none; text-underline: none;">pickup truck</span></a> may be used. For large shipments even if less than a full truckload (<a href="http://en.wikipedia.org/wiki/Less_than_truckload" title="Less than truckload"><span style="color: windowtext; text-decoration: none; text-underline: none;">Less than truckload</span></a>) a truck is more appropriate. In some countries <a href="http://en.wikipedia.org/wiki/Cargo" title="Cargo"><span style="color: windowtext; text-decoration: none; text-underline: none;">cargo</span></a> is transported by road in horse drawn carriages, donkey <a href="http://en.wikipedia.org/wiki/Cart" title="Cart"><span style="color: windowtext; text-decoration: none; text-underline: none;">carts</span></a> or other non-motorized mode. Delivery services are sometimes considered a separate category from cargo transport. In many places fast food is transported on roads by various types of <a href="http://en.wikipedia.org/wiki/Vehicle" title="Vehicle"><span style="color: windowtext; text-decoration: none; text-underline: none;">vehicles</span></a>. For inner city delivery of small packages and documents <a href="http://en.wikipedia.org/wiki/Bike_courier" title="Bike courier"><span style="color: windowtext; text-decoration: none; text-underline: none;">bike couriers</span></a> are quite common.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 200%; mso-bidi-font-weight: normal;"><strong>Rail Transport</strong></span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN; mso-bidi-font-weight: bold;">Rail transport</span><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;"> is the <a href="http://en.wikipedia.org/wiki/Transport" title="Transport"><span style="color: windowtext; text-decoration: none; text-underline: none;">transport</span></a> of <a href="http://en.wikipedia.org/wiki/Passenger" title="Passenger"><span style="color: windowtext; text-decoration: none; text-underline: none;">passengers</span></a> and <a href="http://en.wikipedia.org/wiki/Product_%28business%29" title="Product (business)"><span style="color: windowtext; text-decoration: none; text-underline: none;">goods</span></a> by means of wheeled vehicles specially designed to run along <span style="mso-bidi-font-weight: bold;">railways</span> or <span style="mso-bidi-font-weight: bold;">railroads</span>. Rail transport is part of the <a href="http://en.wikipedia.org/wiki/Logistics" title="Logistics"><span style="color: windowtext; text-decoration: none; text-underline: none;">logistics</span></a> chain, which facilitates the <a href="http://en.wikipedia.org/wiki/International" title="International"><span style="color: windowtext; text-decoration: none; text-underline: none;">international</span></a> <a href="http://en.wikipedia.org/wiki/Trading" title="Trading"><span style="color: windowtext; text-decoration: none; text-underline: none;">trading</span></a> and <a href="http://en.wikipedia.org/wiki/Economic" title="Economic"><span style="color: windowtext; text-decoration: none; text-underline: none;">economic</span></a> growth in most countries.</span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">Typical railway/railroad <a href="http://en.wikipedia.org/wiki/Rail_tracks" title="Rail tracks"><span style="color: windowtext; text-decoration: none; text-underline: none;">tracks</span></a> consist of two parallel <a href="http://en.wikipedia.org/wiki/Rail_profile" title="Rail profile"><span style="color: windowtext; text-decoration: none; text-underline: none;">rails</span></a>, normally made of <a href="http://en.wikipedia.org/wiki/Steel" title="Steel"><span style="color: windowtext; text-decoration: none; text-underline: none;">steel</span></a>, secured to cross-<a href="http://en.wikipedia.org/wiki/Beam_%28structure%29" title="Beam (structure)"><span style="color: windowtext; text-decoration: none; text-underline: none;">beams</span></a>, termed <a href="http://en.wikipedia.org/wiki/Railroad_tie" title="Railroad tie"><span style="color: windowtext; text-decoration: none; text-underline: none;">sleepers</span></a> (<a href="http://en.wikipedia.org/wiki/U.K." title="U.K."><span style="color: windowtext; text-decoration: none; text-underline: none;">U.K.</span></a>) or 'ties' (U.S.). The sleepers maintain a constant distance between the two rails; a measurement known as the '<a href="http://en.wikipedia.org/wiki/Rail_gauge" title="Rail gauge"><span style="color: windowtext; text-decoration: none; text-underline: none;">gauge</span></a>' of the track. To maintain the alignment of the track it is either laid on a bed of <a href="http://en.wikipedia.org/wiki/Track_ballast" title="Track ballast"><span style="color: windowtext; text-decoration: none; text-underline: none;">ballast</span></a> or else secured to a solid <a href="http://en.wikipedia.org/wiki/Concrete" title="Concrete"><span style="color: windowtext; text-decoration: none; text-underline: none;">concrete</span></a> foundation. The whole is referred to as <a href="http://en.wikipedia.org/wiki/Permanent_way" title="Permanent way"><span style="color: windowtext; text-decoration: none; text-underline: none;">permanent way</span></a> (UK usage) or <a href="http://en.wikipedia.org/wiki/Right-of-way_%28transportation%29" title="Right-of-way (transportation)"><span style="color: windowtext; text-decoration: none; text-underline: none;">right-of-way</span></a> (North American usage).</span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 7.2pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">Railway <a href="http://en.wikipedia.org/wiki/Rolling_stock" title="Rolling stock"><span style="color: windowtext; text-decoration: none; text-underline: none;">rolling stock</span></a>, which is fitted with metal wheels, moves with low frictional resistance when compared to road vehicles. On the other hand, <a href="http://en.wikipedia.org/wiki/Locomotive" title="Locomotive"><span style="color: windowtext; text-decoration: none; text-underline: none;">locomotives</span></a> and <a href="http://en.wikipedia.org/wiki/Power_car" title="Power car"><span style="color: windowtext; text-decoration: none; text-underline: none;">powered cars</span></a> normally rely on the point of contact of the wheel with the rail for traction and adhesion (the part of the transmitted axle load that makes the wheel "adheres" to the smooth rail). While this is usually sufficient under normal dry rail conditions, adhesion can be reduced or even lost through the presence of unwanted material on the rail surface, such as moisture, grease, ice or dead leaves. </span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">Rail transport is an <a href="http://en.wikipedia.org/wiki/Energy_efficiency" title="Energy efficiency"><span style="color: windowtext; text-decoration: none; text-underline: none;">energy-efficient</span></a> and <a href="http://en.wikipedia.org/wiki/Capital_intensive" title="Capital intensive"><span style="color: windowtext; text-decoration: none; text-underline: none;">capital-intensive</span></a> means of mechanized land transport and is a component of <a href="http://en.wikipedia.org/wiki/Logistics" title="Logistics"><span style="color: windowtext; text-decoration: none; text-underline: none;">logistics</span></a>. Along with various engineered components, rails constitute a large part of the permanent way. They provide smooth and hard surfaces on which the <a href="http://en.wikipedia.org/wiki/Wheel" title="Wheel"><span style="color: windowtext; text-decoration: none; text-underline: none;">wheels</span></a> of the train can roll with a minimum of <a href="http://en.wikipedia.org/wiki/Friction" title="Friction"><span style="color: windowtext; text-decoration: none; text-underline: none;">friction</span></a>. As an example, a typical modern wagon can hold up to 125 <a href="http://en.wikipedia.org/wiki/Ton" title="Ton"><span style="color: windowtext; text-decoration: none; text-underline: none;">tons</span></a> of freight on two four-wheel <a href="http://en.wikipedia.org/wiki/Bogie" title="Bogie"><span style="color: windowtext; text-decoration: none; text-underline: none;">bogies/trucks</span></a> (100 tons in UK). The contact area between each wheel and the rail is tiny, a strip no more than a few millimeters wide, which minimizes friction. In addition, the track distributes the weight of the train evenly, allowing significantly greater loads per <a href="http://en.wikipedia.org/wiki/Axle" title="Axle"><span style="color: windowtext; text-decoration: none; text-underline: none;">axle</span></a> / wheel than in <a href="http://en.wikipedia.org/wiki/Road_transport" title="Road transport"><span style="color: windowtext; text-decoration: none; text-underline: none;">road transport</span></a>, leading to less wear and tear on the permanent way. This can save energy compared with other forms of transportation, such as road transport, which depends on the friction between rubber tires and the road. Trains also have a small frontal area in relation to the load they are carrying, which cuts down on forward <a href="http://en.wikipedia.org/wiki/Air_resistance" title="Air resistance"><span style="color: windowtext; text-decoration: none; text-underline: none;">air resistance</span></a> and thus energy usage, although this does not necessarily reduce the effects of side winds.</span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">Due to these various benefits, rail transport is a major form of <a href="http://en.wikipedia.org/wiki/Public_transport" title="Public transport"><span style="color: windowtext; text-decoration: none; text-underline: none;">public transport</span></a> in many countries. In <a href="http://en.wikipedia.org/wiki/Asia" title="Asia"><span style="color: windowtext; text-decoration: none; text-underline: none;">Asia</span></a>, for example, many millions use trains as regular transport in <a href="http://en.wikipedia.org/wiki/India" title="India"><span style="color: windowtext; text-decoration: none; text-underline: none;">India</span></a>, <a href="http://en.wikipedia.org/wiki/China" title="China"><span style="color: windowtext; text-decoration: none; text-underline: none;">China</span></a>, <a href="http://en.wikipedia.org/wiki/South_Korea" title="South Korea"><span style="color: windowtext; text-decoration: none; text-underline: none;">South Korea</span></a> and <a href="http://en.wikipedia.org/wiki/Japan" title="Japan"><span style="color: windowtext; text-decoration: none; text-underline: none;">Japan</span></a>. It is also widespread in <a href="http://en.wikipedia.org/wiki/Europe" title="Europe"><span style="color: windowtext; text-decoration: none; text-underline: none;">European</span></a> countries. By comparison, intercity rail transport in the <a href="http://en.wikipedia.org/wiki/United_States" title="United States"><span style="color: windowtext; text-decoration: none; text-underline: none;">United States</span></a> is relatively scarce outside the <a href="http://en.wikipedia.org/wiki/Northeast_Corridor" title="Northeast Corridor"><span style="color: windowtext; text-decoration: none; text-underline: none;">Northeast Corridor</span></a>, although a number of major U.S. cities have heavily-used, local rail-based passenger transport systems or <a href="http://en.wikipedia.org/wiki/Light_rail" title="Light rail"><span style="color: windowtext; text-decoration: none; text-underline: none;">light rail</span></a> or <a href="http://en.wikipedia.org/wiki/Commuter_rail" title="Commuter rail"><span style="color: windowtext; text-decoration: none; text-underline: none;">commuter rail</span></a> operations. </span></div><div class="MsoNormal" style="background: #f8fcff; line-height: 200%; margin: 4.8pt 0cm 6pt; text-align: justify;"><span lang="EN" style="font-size: 14pt; line-height: 200%; mso-ansi-language: EN;">The vehicles travelling on the rails, collectively known as <span style="mso-bidi-font-style: italic;">rolling stock</span>, are arranged in a linked series of vehicles called a <a href="http://en.wikipedia.org/wiki/Train" title="Train"><span style="color: windowtext; text-decoration: none; text-underline: none;">train</span></a>, which can include a <a href="http://en.wikipedia.org/wiki/Locomotive" title="Locomotive"><span style="color: windowtext; text-decoration: none; text-underline: none;">locomotive</span></a> if the vehicles are not individually powered. A locomotive (or 'engine') is a powered vehicle used to haul a train of unpowered vehicles. In the U.S.A., individual unpowered vehicles are known generically as <span style="mso-bidi-font-style: italic;"><a href="http://en.wikipedia.org/wiki/Railroad_car" title="Railroad car"><span style="color: windowtext; text-decoration: none; text-underline: none;">cars</span></a></span>. These may be passenger carrying or used for freight purposes. For passenger-carrying vehicles, the term <span style="mso-bidi-font-style: italic;"><a href="http://en.wikipedia.org/wiki/Coach_%28rail%29" title="Coach (rail)"><span style="color: windowtext; text-decoration: none; text-underline: none;">carriage or coach</span></a></span> is used, while a freight-carrying vehicle is known as a <span style="mso-bidi-font-style: italic;">freight car</span> in the United States and a <span style="mso-bidi-font-style: italic;">wagon</span> or <span style="mso-bidi-font-style: italic;">truck</span> in Great Britain. An individually-powered passenger vehicle is known as a <span style="mso-bidi-font-style: italic;">railcar</span> or a <span style="mso-bidi-font-style: italic;">power car</span>; when one or more as these are coupled to one or more unpowered <span style="mso-bidi-font-style: italic;">trailer cars</span> as an inseparable unit, this is called a <span style="mso-bidi-font-style: italic;">railcar set</span>.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Previous studies on the economic development of the United States emphasized infrastructure, business climate, taxation, cost and availability of raw materials, labour, capital, access to markets, and climate when explaining growth of the region.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Plaut and Pluita (1983) in their state level analysis of industrial growth used labor and energy cost, availability and productivity variables, land and raw materials, environment, business climate, taxes and government expenditures as explanatory variables. They found market accessibility, labor variables, land, environment, business climate, and propel1y taxes to be highly significant in explaining all three measures of industrial growth production, employment and capital stock growth. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Carlino and Mills (1987) looked at the determinants of county growth. County level data were used to analyze what variables had an impact on the growth of population and employment during the 1970s and 1980s. Structural equations were estimated using a two-stage least-squares technique for total employment and population, and for manufacturing employment and population, since the manufacturing sector appeared to influence regional economic growth Eight regional dummies were used to identify the association of a county to a particular region Population density, interstate-highway density, and family income were shown to contribute significantly to the employment density growth, whereas employment, interstate-highway density, family income, and the central city dummy contributed to the population density growth. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Deller, Tsai, Marcouiller and English (200 I) looked at how amenities influence rural economic growth. Economic growth was represented in their study by three types of growth: growth in population, growth in employment, and growth in per capita income. Results of their analysis showed that higher levels of income inequality are associated with lower levels of growth in terms of population. Property taxes had a negative effect on population and income growth; population over age sixty-five was negatively related with economic growth; climate strongly influenced growth levels of population; all amenity attributes, such as levels of water amenities, developed recreational infrastructure; winter recreational activities, were statistically significant and positively related to economic growth. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Government policies can have an impact on the firm's decision- making process, particularly taxation and incentive policies. Corporate income and property tax rates can affect a firm's profits either directly or indirectly (Gerking and Morgan, 1991). It is obvious that a firm's profits will decrease if the burden of an increase in taxes is borne directly by the firm. This study proved that a firm's profits decrease if the increase in taxes is passed forward to the consumer. By passing the tax to the consumer through higher prices, the firm's market will decline, thus indirectly reducing profit.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">On the other hand, Newman and Sullivan argue that business taxes should not be viewed strictly as another cost to the firm (Newman and Sullivan, 1988). They perceive business taxes in part as benefit taxes. "Firms derive some benefit from local or state expenditures for fire, public safety, transportation, and perhaps education" (Newman and Sullivan, 1988, p. 216). The relevant question for the firm now would not be which location would minimize the tax burden to the firm, but what location would provide the firm with the most desirable overall fiscal package. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Agglomeration economies represent the cost savings that accrue to firms that locate in communities with a relatively large concentration of manufacturing commercial business activity (Hery and Drabenstott, 1996; Johnson, 2001; McNamara, Kriesel, and Rainey, 1995). The concentration of activity tends to provide broader access to markets, business services, and technological expertise. In addition, agglomeration forces are generally associated with an abundant supply of skilled labor. Thus, communities in or near large Metropolitan Statistical Areas (MSAs) have location advantages over smaller and more remote communities. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">As expected, agricultural agglomeration was highly significant and negatively related to the gross county product since agriculture represents an industry that offers an alternative way of land use (Blum, 1982) Wages in agriculture also tend to be lower than in other sectors Employment agglomeration in construction and retail industries were insignificant. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">The concentration of roads, measured as the number of miles in all roads divided by land area, represented infrastructure in this study. This variable was highly significant and positively related to the gross county product. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">The number of person-trips per year variable represented the ability of the county to attract outside residents for business and/or personal activities in the area. This variable was chosen for its relation to the business and personal travel and service usage. The number of person-trips was highly significant and positively related to the gross county product. The amenity index showed that rural amenities contributed to the increase in income growth in the county. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Another outcome of this research is that economic development was significantly and positively related to the level of human capital in the area. The coefficient for the percent of the population with high school diploma was the highest among all variables, followed by the coefficient on infrastructure. These results imply that counties seeking to increase income growth should insure that they have a comparative advantage or at least be comparable with competing communities regarding the level of human capital and infrastructure. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Large investments have been made for the development of the transport sector in India. This has resulted in the expansion of transport infrastructure and facilities. There have also been impressive qualitative developments. These include the emergence of the multi modal transport system, training centres of excellence and reduction in the arrears of over-aged assets. In spite of these impressive achievements, the transport infrastructure has not been developed to the extent that it can effectively address the problems of accessibility and mobility needs for the movement of people and goods. About 40 percent of villages are yet to be linked with all-weather roads. India has made remarkable progress in many areas while remain regressive in many others. The ongoing liberalization of Indian economy, despite some noticeable bumps, has rekindled a global interest in this slumbering giant. Indian economic growth accelerated to 6.9 percent in 2004-05 as compared to 5.8 percent in 2001-02, 6.1 percent in 1999-00, 6.7 percent in 1989-90, 5.2 percent in 1979-80 and 1.0 percent in 1971-72 in terms of real GDP at factor cost. The combined gross fiscal deficit as percentage of GDP was 8.3 percent in 2004-05RE as compared to 9.9 percent in 2001-02, 9.5 percent in 1999-00, 8.9 percent in 1989-90 and 7.5 percent in 1980-81. The gross domestic capital formation at constant price (a proxy for domestic real investment) as percentage of GDP was 16.8 percent in 2004-05 as compared to 14.8 percent in 2001-02,18.2 percent in 1999-00, 35.4 percent in 1989-90, 76.9 percent in 1979-80 and 136.3 percent in 1971 - 72.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Indian Railways is one of the largest railway systems in the world. By carrying about 1.1 million passengers and over 1.20 million tonnes of freight per day the rail system occupies a unique position in the socio-economic map of the country and is considered a means and a barometer of growth. Rail is one of the principal modes of transport for carrying long-haul bulk freight and passenger traffic. It also has an important role as the mass rapid transit mode in the suburban areas of large metropolitan cities. The growth of railway route length was 0.4 percent in 2004-05 as compared to 0.2 percent in 2001-02, -0.1 percent in 1999-00. 0.4 percent in 1989-90. 0.3 percent in 1979-80 and 0.5 percent in 1971-72.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">The road network in India is seemingly very large with a length of about 3 million kilometers. However, it cannot meet the accessibility and mobility requirements of a country of India's size and population. The growth of road length was higher in all the years as compared to the growth of railway route length. It was 1.8 percent in 2004-05 as compared to 1.5 percent in 2001-02, 0.8 percent in 1999-00, 3.3 percent in 1989-90, 3.2 percent in 1979-80 and 10.3 percent in 1971-72 It is also found that while the growth of road length continuously increasing since 1999-00, the growth of railway route length increasing since 2002-03. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">From the above trend it is clear that India's real economic growth is as a result of rail and road route length growth.<span style="mso-spacerun: yes;"> </span></span></div><div class="MsoBodyText2" style="line-height: normal; margin: 0cm 0cm 0pt;"><br />
</div><div class="MsoBodyText2" style="line-height: normal; margin: 0cm 0cm 0pt;"><br />
</div><div class="MsoBodyText2" style="line-height: normal; margin: 0cm 0cm 0pt;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">The next step is to divide the value added by transportation into the respective modes. Goods movement-intensive industries have less flexibility in the modes they use than is often understood by economic development officials and transportation planners. Careful analysis of each industry’s logistics indicates which mode dominates the industries shipping patterns. The analysis may reveal opportunities for mode shifts that in turn provide significant cost savings and/or improved productivity, but these opportunities are few and far between. The Alameda Corridor project in Los Angeles, for example, will probably increase the amount of containers moving out of the Port of LA and Long Beach by rail significantly, but only as on-dock rail capacity in increased by terminal operators and only over time. Figure A-4 illustrates the breakout of the value-added from transportation by mode at the national level.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">During the past few decades, continued shifts in the U.S. economy towards more services, increased production of high-value and light-weight goods, expanded trade with Mexico and China, and the current pattern of global production and distribution systems influenced trends in U.S. freight transportation As the nation's economy shifted towards more services, the goods share of GDP declined relative to total GDP. Thirty-four years ago, in 1970, goods accounted for 43 percent of US. GDP, only slightly lower than the 46-percent share of services in GDP But, by 2002 the share of goods in GDP decreased to 33 percent, while the share of services increased to 58 percent Because freight transportation is, in general, more closely associated with goods production than with services production, the decline in goods share of GDP contributed to a slower growth in freight transportation (measured in ton-miles) than the overall growth of GDP in the past few decades Between 1970 and 2002, U.S. real GDP, measured in 2000 chain-type dollars, grew 167 percent During the same time period, US freight transportation, measured in ton-miles, grew only 73 percent Consequently, the freight transportation intensity of the U.S. economy decreased from 059 ton-miles per dollar of GDP.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Freight transportation intensity declined even within the goods producing sector. In 1970, It took 2.1 ton-miles of freight transportation to produce $1 of goods GDP. In 2002, it took only half that amount, 1.1 ton-miles, to produce the same value of goods GDP (in real terms). This trend reflects two underlying changes in the U.S. economy:</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -36pt;"><span lang="EN-US" style="font-family: Symbol; font-size: 14pt; font-weight: normal; line-height: 200%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt 'Times New Roman';"> </span></span></span><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">the downsizing of products towards lighter weight products (such as computers, cell phones, and hand-held digital devices), and </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt 36pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -36pt;"><span lang="EN-US" style="font-family: Symbol; font-size: 14pt; font-weight: normal; line-height: 200%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7pt 'Times New Roman';"> </span></span></span><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Improvement in the efficiency of the freight transportation system, not only in terms of faster and timelier delivery, but also higher direct accessibility.</span></div><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: 'Times New Roman'; mso-fareast-language: EN-US;"><br clear="all" style="page-break-before: always;" /></span></b><br />
<div class="MsoBodyText2" style="line-height: normal; margin: 0cm 0cm 0pt;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Within those industries that need help and would likely benefit, an understanding of how much each industry uses various modes (both those currently located in Oregon and those targeted by economic development officials) provides the first step in targeting transportation investments. Figure A-5 presents a qualitative rating of the modal intensity for major industry groups based on national averages.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; font-weight: normal; line-height: 200%;">Unfortunately, it will not be sufficient to have this understanding at the national level and it may not suffice at the state level. The successes of most transportation investments vary by region and by rural versus urban corridors. Research on the role of highways and lane expansions in economic development, for example, shows that improvements to rural highway connections between communities can have significant benefits even if there is no congestion. </span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
</div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><span lang="EN-US" style="font-family: 'Times New Roman','serif'; font-size: 14pt; line-height: 200%; mso-bidi-font-weight: normal;"><strong>References</strong></span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none;"><span lang="EN-US" style="font-size: 14pt;">APPOL S & KOSARDA J. (2006) “Airport as New Urban Anchors” Capel Hill University North Cariolina.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none;"><br />
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</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">DfT (2003) <i>National Transport Model (NTM)</i>. Available from:</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;"><a href="http://www.dft.gov.uk/stellent/groups/dft_econappr/documents/page/dft_econappr_024013"><span style="color: windowtext;">http://www.dft.gov.uk/stellent/groups/dft_econappr/documents/page/dft_econappr_024013</span></a>. <span style="mso-spacerun: yes;"> </span>hcsp </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
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</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">LUNDQVIST, L. and MATTSSON, LG.(eds.), (2001). <i>National Transport Models: Recent Development and Prospects</i>, Berlin: Springer-Verlag.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">OCMLT 2000. <i>Transport Data and Model Center (TDMC)</i>. JMP (Thailand) </span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
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</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">MATTSSON, LG. (eds.), (2001) “National Transport Models: Recent Development and Prospects”. Berlin</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">PRUSTY S. (2006) “Rail-Road Transportation, Domestic Investment and Economic Growth: A co-integration Analysis For India” Goa Institute of management Working paper</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">RAINLEY D. B. (2002) “Transportation Infrastructures and Rural Economic Growth” Mack Blackwell Transportation Centre.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">SIKA (2002) <i>SAMPERS – Overview</i>. Available from: http://www.sikainstitute.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">se/utgivning/upph020521_08.pdf.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">Van de Velde, D. M. (2005), The Netherlands, in Calthrop, E. and Ludewig, J. (eds) “ Reforming Europes Railways An Assessment of Progress, Community of European Railway and Infrastructure Companies” (CER), Eurailpress, Hamburg</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">WORD BANK (2000) “Sustainable Transport: Priorities for Policy Reform” Published by the World Bank.</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><br />
</div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">WORSLEY, T.T. and HARRIS R.C.E.(2001) <span style="mso-spacerun: yes;"> </span>“<i>General Modeling Approaches: Top-down or Bottom up”?</i>,</span></div><div class="MsoNormal" style="margin: 0cm 0cm 0pt; mso-layout-grid-align: none; text-align: justify;"><span lang="EN-US" style="font-size: 14pt;">in LUNDQVIST, L., and MATTSSON, LG. (eds.), 2001. National Transport Models: <span style="mso-spacerun: yes;"> </span>Recent Development and Prospects. Berlin.</span></div><div class="MsoBodyText2" style="margin: 0cm 0cm 0pt; text-align: justify;"><br />
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</div>Professor Muktarhttp://www.blogger.com/profile/06547790235770167121noreply@blogger.com34