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This study makes a modest contribution to the debates by empirically analyzing the relationship between Nigeria inflation trend and investment growth (gross fixed capital formation), using time series data from 1980 to 2015, obtained from the World Economic Outlook (WEO) database of the IMF and World Development Indicators (World Data Bank Online Version). It employs the Engle-Granger two step modeling (EGM) procedure to co-integration based on unrestricted Error Correction Model and Pair wise Granger Causality tests. From the analysis, my findings indicate that inflation and gross fixed capital formation are cointegrated in this study. The error correction term of -0.76 is negatively signed and also significant at all conventional level indicating that when the variables wonder away from equilibrium following an exogenous shock, 76 percent of the disequilibrium is corrected after one year. Based on the result of granger causality, the paper concludes that causality exist between the two variables used in this study. Therefore, the policy implication of these findings is that government should adopt various policy measures (both monetary and fiscal) to reduce inflation to an acceptable level because the current inflationary trend in Nigeria is negatively affecting the realization of creativity and manufacturing of commodities with international competitive advantage.

This study examined the relationship between government spending on agriculture and its output over the period 1970-2015 using Engle-Granger (1987) two step modeling (EGM) procedure involving: cointegration analysis and error correction of parameter estimates. Additionally, Granger causality test was carried out to determine the direction of causation between government spending on agriculture and agriculture sectors output. Based on the data analysis, it was discovered that Total government spending on agriculture (TGSA) has significant effect on agriculture output (AGDP) in the long and short-run.; this relationship is statistically significant in the long run and in the short run. Spending on agriculture sector has the capacity to increase its output by 10.7% if the allocation increases by 1% in the long run while in the short run, one percent increase in government expenditure on agriculture will bring about 10% increase in agriculture output. The study concludes that public expenditure is very crucial instruments for economic growth at the disposal of policy makers in Nigeria and government expenditure on agriculture is basically related to agricultural development and recommends that efforts should be made to increase government funding on agricultural sector and also compliment it with stable macroeconomic policies in order to curtail the level of food shortage and overdependence on foreign food and as well increase funding on anti-graft or anti-corruption agencies like the Economic and Financial Crime Commission (EFCC), and the Independent Corrupt Practices Commission (ICPC) in order to arrest and penalize those who divert and embezzle public funds.

This paper investigates the relationship between Nigeria's capital expenditure and the growth of the manufacturing sector from 1971-2012. The ordinal least square method is used to show the relationship between capital expenditure and manufacturing output. Manufacturing Gross domestic product is taken as dependent variable while exchange rate, interest rate, political stability, recurrent expenditure, money supply, interest rate, index of energy consumption, credit to private sector, degree of openness and rate of growth of GDP as independent variables. All the variables used are integrated of order one except political stability which is a dummy variable. The results suggest that there is a positive relation between rate of growth of GDP, capital expenditure, money supply, openness of the economy, recurrent expenditure and manufacturing output in the country. In the light of the above, the papers recommends, among other things, government should increase the capital expenditure and reduce recurrent expenditure and also make sure that government funds are properly managed in a manner that it will raise the nation's production capacity and accelerate economic growth. DOI:10.5901/jesr.2014.v4n5p143

This paper attempts to provide a critical appraisal of the debate on the effectiveness of microfinance as an effective tool for eradicating poverty and also the history of microfinance banks in Nigeria. It argues that while microfinance has developed some innovative management and business strategies, its impact on poverty reduction remains in doubt. Micro finance impact on poverty reduction in Imo state was studied by a stratified sampling method in the selection of the customers. The study area was divided into 16 sample units based on the various local government areas in Imo state. Four (4) MFBs were purposefully selected from each of the 3 Senatorial Zones, making a total of 12 MFBs. In order to have unbiased selection of samples, Three Hundred and eighty two questionnaires (382) were randomly distributed to customers of these selected microfinance Banks in the three senatorial Zones as follows, namely: Owerri (82), Okigwe (100) and Orlu (200). The result revealed that majority of respondents were male constituting about 78 % while women 22 % and majority of the respondents were married (65 %), single (33 %) divorced (2 % ). 137 of the respondents do not have any formal education, 67 possess primary school leaving certificate. 81 indicated having secondary school certificate. 71 with diploma / NCE and its equivalent. 28 of them have first degree certificate and above representing 36 %, 17 %, 21 %, 19 % and 7 % respectively. The monthly income brackets of the respondents show that One hundred and eleven (111) respondents (29 %) indicated earning N10,000 N15,000, 95 respondents or 25 % indicated N15,001 – N20,000 as their income bracket, 94 or 24 % were earning above N20,000, while 84 (22 %) indicated earning below N10,000. From the result, high income class has more capacity to save than poor dwelling in rural areas. The finding appears to support the predication of Economics theory of savings which argues that saving is a function of the level of income. The implication of this study is that the federal government of Nigeria and financial institutions in the country should take up the challenge of establishing bank branches in the rural areas or make formidable arrangement for supplying more credit to the rural dwellers.

The success of generating income for majority of rural and urban dwellers with no formal paid employment highly depends on Entrepreneurship. They are the backbone of economic development all over the world and play important role for employment, income and societal changes, particularly in transition economies like Nigeria. This paper is concerned with the nature and the extent to which entrepreneurship in Nigeria has been developed so far, and outlines the initiative by government and also the main current and future challenges and perspectives for the development of entrepreneurship. The study revealed that such initiatives by government failed abysmally due to over bearing bureaucracies, corruption, inadequate and inefficient infrastructural facilities and maladministration. The paper concludes that entrepreneurship miracle in other country is an engine for job creation; innovation and diversity and Nigeria's entrepreneurs have a long way to go before they can effectively drive changes in the economy and recommends that Government (policy makers) should genuine recognize the essence of entrepreneurship to economic development by providing the enabling environment for private sector led investment for economic development and also provide adequate infra-structural facilities (water, electricity, road network, communications etc.) DOI:10.5901/ajis.2013.v2n5p25