THE PERSISTENT DEPRECIATION OF NAIRA (CASUSES AND POSSIBLE SOLUTION)
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study was carried out on the causes and possible solutions to the persistent depreciation of Naira. To achieve this significant research objectives were formulated. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprise of all the staff of CBN illorin branch, Kwara State. In determining the sample size, the researcher conveniently selected 67 respondents while 50 were received and validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables and percentage. The result of the findings reveals that the possible causes of naira devaluation include; economic fundamentals, political instability, interest rate differentials, risk aversion among investors and corruption practices, More so, the study disclosed that among the challenges of naira devaluation include; lack of adequate infrastructures, lack of advanced technology and the danger of corruption. And economy instability, increase in crime rate, and curtailing foreign investment are the notable consequences of naira devaluation. In regard to the findings, the study recommends that Naira should not be devalued further until there is improvement on the quality of goods being exported through industrialization so that global competitiveness will be achieved and it can have a positive effect on the balance of payment. Contractionary policies should also be put in place to curb the associated increase in inflation. There is no doubt that initially a common man in Nigeria will not enjoy it because the policy is channeled towards encouraging exportation and discouraging importation. Furthermore, Nigeria should diversify her economic base, create an enabling environment for export oriented manufacturing to grow and instead of devaluation, trade restriction, ban on some selected imports. Other monetary measures should be introduced to address the country’s balance of payment position, and monetary authorities should execute the right measures to reduce the temporary increase in prices lest it become permanent. Timing at this point becomes very crucial. More so, the Nigerian government should consider devaluation of currency as the last resort to the economic imbalance.
Related Project Materials
THE CONTRIBUTION OF AGRICULTURE COOPERATIVE SOCIETIES TO FOOD PRODUCTION (A CASE STUDY SELECTED AGRICULTURAL COOPERATIVE SOCIETIES IN ENUGU NORTH LOCAL GOVERNMENT AREA, ENUGU STATE)
ABSTRACT
Modern form of Co-operative leaves their origin in the tension and opportunities created by industrialization...
THE CHALLENGES OF ENTREPRENEURSHIP IN HOME AND RURAL ECONOMICS EDUCATION
ABSTRACT
This study attempts to find out the challenges of entrepreneurship in Home and Rural Economics Education. The s...
DESIGN AND CONSTRUCTION OF 12V BATTERY CHARGER
ABSTRACT
This project presents the design and construction of a battery charger. A bat...
IMPACT OF AUTOMATED ACCOUNTING SYSTEM ON PAYROLL PREPARATION IN SOME SELECTED LARGE ORGANISATIONS
BACKGROUND OF THE STUDY
Business organization, especially the large ones...
ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENT AS A MANAGERIAL TOOL FOR DECISION MAKING
Abstract
Financial Statement Analysis and Interpretation is a very vital instrument of good management decision-making in business enterp...
THE ROLE OF FINANCIAL INTERMEDIATION ON THE CAPITAL MARKET AND ECONOMIC DEVELOPMENT
Abstract
This study investigates the impact of financial intermediaries on capital market development in Nigeria employing c...
THE EFFECT OF AUDITING IN THE DEVELOPMENT OF NIGERIAN ECONOMY
ABSTRACT
The primary objective of carrying out this research was to have an overview of “The Effect of Auditing in the development...
THE IMPACT OF STAFF WELFARE SCHEME ON WORKERS PRODUCTIVITY: A CASE STUDY OF COLBEN
ABSTRACT
This study examined the place of welfare programme on worker’s productivity in an instit...
A CRITICAL EXAMINATION OF VIOLENT FILM AND ITS EFFECTS ON NIGERIA FEMALE CHILDREN
EXCERPT FROM THE STUDY
The goal of this study was to examine the effect of violent film on Nigerian female children in O...
PROBLEMS OF TEACHING SOCIAL STUDIES IN SECONDARY SCHOOL
ABSTRACT
This study focused on the problems of teaching social studies in secondary schools in Awgu oca...
