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OALib Journal期刊

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Impact of Monetary Policy on Economic Growth in Nigeria  [PDF]
Ajibola Ayodeji, Adeyemi Oluwole
Open Access Library Journal (OALib Journal) , 2018, DOI: 10.4236/oalib.1104320
Abstract:
The paper examined the impact of monetary policy on economic growth in Nigeria by developing a model that is able to investigate how monetary policy of the government has affected economic growth through the use of multi-variable regression analysis. We proxied the variables of monetary policy instruments to include: Money Supply (MS), Exchange Rate (ER), Interest Rate (IR), and Liquidity Ratio (LR). Economic growth was represented by Gross Domestic Product (income) at constant prices. Unit root test was conducted and all our estimating variables were stationary at first difference except the component of interest rate which shows that our model interpretation would not be spurious and a true representation of the relationships that exists between the explained and explanatory variables. Error Correction Model was introduced in our estimation in order to have a parsimonious model. From our result, two variables (money supply and exchange rate) had a positive but fairly insignificant impact on economic growth. Measures of interest rate and liquidity ratio on the other hand, had a negative but highly significant impact on economic growth which supports the assertion by Busari et al. (2002) that monetary policies are better suited when they are used in targeting inflation rather than in stimulating growth. In addition, Engle-Granger co-integration test was done and showed the existence of a long run relationship between monetary policy and economic growth in Nigeria. Finally, granger causality test was done on our variables and the results showed the existence of a uni-directional causality between money supply and economic growth, economic growth granger causing liquidity ratio and exchange rates while a bi-directional causality exists between interest and economic growth. We recommend that partial autonomy should be replaced with full autonomy for the central banks in Nigeria which is invariably subjected to government interference and its politics. Finally, monetary policies should be used to create a favorable investment climate by facilitating the emergency of market based interest rate and exchange rate regimes that attract both domestic and foreign investments.
Stylized Facts and Review of the Relation between Contraceptive Use, Delinquency and Age Structure in Nigeria, and It’s Implications for Demographic Dividend  [PDF]
Ayodeji Ajibola, Oluwole Adeyemi Jacob, Ebenezer Omotosho
Open Access Library Journal (OALib Journal) , 2018, DOI: 10.4236/oalib.1104321
Abstract:
The young population structure of most African countries will serve as a driving force behind economic buoyancy in years to come, only if strategies are put in place to encourage smaller families. Forty percent of the Nigerian population is below 15 years, while 3 percent are 65 years and above. A large workforce with fewer children to support creates a window of opportunity to save money on health care and other social services. This study seeks to examine the association between contraceptive use, delinquency and age structure of Nigeria population; to identify ways of achieving the demographic dividend. Data were extracted from the Nigeria Demographic and Health Survey Report in 2008, United Nations World Population Prospects Report (2008) and World Population Data Sheets (2009-2016). Uses of trends (tables and charts) were adopted in presenting data in this study. Findings show that contraceptive prevalence level in the country is very low, it ranged from 11%-15% within the selected periods. The desire to limit childbearing as the number of living children increases was reported to be common among women with three or more children in both urban and rural areas. Mothers with post-secondary education on the average had 4 children, while those without education had 8 children. Education is that best contraceptive to achieve the age structure that would result in demographic dividend; hence more investments in women education are needed. Also, job opportunities for different levels of skill are required as this encourages dual role among women apart from rearing children.
Carbon Storage in Agroecosystems: A Case Study of the Cocoa Based Agroforestry in Ogbese Forest Reserve, Ekiti State, Nigeria  [PDF]
David Oke, Ayodeji Olatiilu
Journal of Environmental Protection (JEP) , 2011, DOI: 10.4236/jep.2011.28123
Abstract: Large areas of the indigenous tropical forests in the southwestern part of Nigeria are being converted into agricultural lands and this has been reported to have serious implications for biodiversity and the environment. Cocoa based agroforestry is one of the common agricultural practices in this region and comparative information on the carbon storage capacity of the cocoa agroforests is generally lacking. In this study the above-ground carbon storage and partitioning in a protected primary forest were evaluated and compared with those of the two categories of cocoa agroforests (sparse and dense) identified in the area. Above-ground biomass accumulation and carbon stock varied significantly with land use type, with the primary rainforest having the highest values and sparse cocoa agroforests having the lowest. A reduction in above-ground carbon stock of 89.82% and 71.20% was observed 10 years after conversion of tropical rainforest to sparse and dense cocoa agroforests respectively.
Forced Convection Thermal Boundary Layer Transfer for Non-Isothermal Surfaces Using the Modified Merk Series  [PDF]
Ayodeji Falana, Richard Olayiwola Fagbenle
Open Journal of Fluid Dynamics (OJFD) , 2014, DOI: 10.4236/ojfd.2014.42018
Abstract:

The Chao and Fagbenle’s modification of Merk series has been employed for the analysis of forced convection laminar thermal boundary layer transfer for non-isothermal surfaces. In addition to the Prandtl number (Pr) and the pressure gradient (∧), a third parameter (temperature parameter, γ ) was introduced in the analysis. Solutions of the resulting universal functions for the thermal boundary layer have been obtained for Pr of 0.70, 1.0 and 10.0 and for a range of ∧ . The results obtained for the similarity equations agreed with published results within very close limits for all the ∧’s investigated.

Nitrogen retention and water balance in animals fed medium protein diet amidst limited water supply
A Ajibola
African Journal of Biomedical Research , 2006,
Abstract: Nitrogen metabolism of animals fed a medium protein diet (10.5% cp) ad libitum with restricted water consumption was studied. During the 8-day digestibility trial, 3 groups of five animals each were subjected to 30%, 50% and 100% water supply, with concomitant jugular blood samples taken daily to monitor their hydration status. Water loss via the urine reflects the animals water intake, thus control animals voided more urine (P < 0.05) than 50% and 30% groups. Treatment groups retain high amount of nitrogen, in contrast to control animals that lost 2.4% nitrogen via the faeces. Inadequate drinking caused decreased excretion of urea. The improved nitrogen retention coupled with high rates of urea recycling enhances nutrients digestion and consequently the animals’ absorptive capabilities. . (Afr. J. Biomed. Res. 9: 225 – 229, September 2006)
Uplink Performance Evaluation of CDMA Communication System with RAKE Receiver and Multiple Access Interference Cancellation  [PDF]
Ayodeji J. Bamisaye, Michael O. Kolawole
Int'l J. of Communications, Network and System Sciences (IJCNS) , 2010, DOI: 10.4236/ijcns.2010.36072
Abstract: In CDMA communication systems, all the subscribers share the common channel. The limitation factor on the system’s capacity is not the bandwidth, but multiuser interference and the near far problem. This paper models CDMA system from the perspective of mobile radio channels corrupted by additive white noise generated by multipath and multiple access interferences. The system’s receiver is assisted using different combining diversity techniques. Performance analysis of the system with these detection techniques is presented. The paper demonstrates that combining diversity techniques in the system’s receivers markedly improve the performance of CDMA systems.
Evaluation of Downlink Performance of a Multiple-Cell, Rake Receiver Assisted CDMA Mobile System  [PDF]
Ayodeji J. BAMISAYE, Michael O. KOLAWOLE
Wireless Sensor Network (WSN) , 2010, DOI: 10.4236/wsn.2010.21001
Abstract: In wireless Code Division Multiple Access (CDMA) system, the use of power control is indispensable to combat near-far and fading problems. Signals transmitted over a multipath propagation channel which exhibits inter-path interference and fading. The receiver has to employ measures to mitigate these effects or it will incur severe performance degradation. A classic approach in CDMA communications is the rake receiver. In this paper, the downlink performance is estimated for a CDMA mobile system at the vertex of multiple adjacent cells. At the base station the received signal is coherently dispread and demodulated using a rake receiver. The effects of power control, error correction and rake receiver were also investigated on the assumption that the received signals undergo Rayleigh fading, lognormal shadowing, and frequency selective fading. The evaluation of performance measures of base to mobile link (downlink) of a multiple-cell CDMA mobile system is presented. This study demonstrates that significant performance improvements are achievable with combined use of power control, rake receiver and error correction scheme.
Analysis of Storm Structure over Africa Using the Trmm Precipitation Radar Data  [PDF]
Ayodeji Richard Balogun, Zechariah Debo Adeyewa
Atmospheric and Climate Sciences (ACS) , 2013, DOI: 10.4236/acs.2013.34057
Abstract:

A 5-year mean seasonal analysis of mean storm height data and histograms from the Tropical Rainfall Measuring Mission (TRMM) Precipitation Radar (PR) have been used to study the storm structure of the major climatic regions in Africa and over the adjacent Atlantic ocean. The analysis was carried out in two ways. First, the mean storm height and histogram were analyzed for the entire continent bounded by 40?N to 40?S and 20?W to 60?E. Secondly, the analysis was carried out on sub-regional basis, on which Africa was structured into ten regions: Desert (North), Semi-desert (north), Deciduous forest (North), Brush Grass Savanna (North), Tropical Rainforest, Deciduous forest (South), Brush Grass-Savanna (South), Temperate Grassland/Montane Forest, Steppe (East) and Atlantic Ocean. As observed over Africa, and some parts of the Atlantic Ocean and the Indian Ocean, the storm height over the land is higher than that over the sea because ground surfaces tend to be heated more and convections are more easily developed over the land than over the Ocean. There are high storm counts over the land at 250 mb whereas the storm counts are high over the Ocean at 700 mb. Over the regions, the vertical structure of the histograms reveals a distinct bi-modal distribution in the northern hemisphere and the southern hemisphere, but a unimodal distribution

Preparation of Dye Using Selected Local Materials
LO Alamu, AT Ajibola
International Journal of Applied Agriculture and Apiculture Research , 2007,
Abstract: Many plant species in Ogbomoso area of Oyo Stale. Nigeria produce juice that can permanently stick to clothing materials. A few of such plants were selected, namely Kola nitida. Cmelina arhorca. Prosopis africana. Tcctona grandis. Pteleopsis habeensis. Khaya scnegalensis. Azanza garkeana and Lamea liumilis. Juice from these plants were extracted and found to be useful dye agents for fabrics such as calico. Dyeing with Pteleopsis habeensis produced a peach-coloured fabric; Khaya scnegalensis gave a pinecoloured fabric while a combination of the juices of Pteleopsis habeensis and Kola nitida gave an Ivorycoloured fabric. These locally available dyes, if improved upon would be a basis for the development of a dye-producing industry, small or large scale that may also assist in alleviating poverty in Nigeria.
Valuation Inaccuracy: An Examination of Causes in Lagos Metropolis
Mayowa Olusola Ajibola
Journal of Sustainable Development , 2010, DOI: 10.5539/jsd.v3n4p187
Abstract: Valuation plays essential roles in the property market either for loan purposes, sale transactions, and portfolio management or performance measurement. Previous studies had established that there was valuation inaccuracy everywhere in the world, including Nigeria. This study examined the causes of such inaccuracies. Survey approach was used in carrying out the study. 150questionnaire was retrieved out of 300 questionnaire (i.e. 50%) administered on the respondents selected from the Nigerian Institution of Estate Surveyors and Valuers’ Directory and this was used for the analysis. Descriptive statistics was employed in the analysis of the data collected. The study revealed that valuation inaccuracy in Lagos Metropolis result from dearth of market evidence (data), use of outdated valuation approach and clients’ influence. The study established that Valuers in the metropolis engaged in general practice. The paper recommends that Nigerian Valuers should join hands in providing centrally organised databank which will reduce the level of inaccuracy in valuation.
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