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PETROLEUM HYDROCARBONS POLLUTION OF NIGERIAN WATERS AND SEDIMENTS AROUND LAGOS AND NIGER DELTA AREA OF NIGERIA
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- Generating massive investment for growth and development has been one of the main policy goals of most economies around the globe. Countries, most especially developing ones, are highly susceptible to investment volatility owing largely to the fragile nature of their economies as well as weaknesses in terms of dysfunctional institutions. Therefore, sound economic management suggests the need to better understand possible sources for mitigating the adverse effects of investment volatility. Remittances have been identified as important capital flows which do a good job of dousing macroeconomic volatilities. It is on this basis that the study sought to uncover the causal relationship between remittances and investment volatility via the intermediating role of institutions. Using a panel of 70 countries and the system Generalized Method of Moments (GMM) estimator, three insightful outcomes come to the fore. First, remittances played countercyclical roles across the estimated regressions. Second, institutional quality had no significant role in mitigating investment volatility and lastly, the interactive terms of both remittances and institutions significantly mitigated the negative impacts of investment volatility with the exception of the political component of the institutional architecture. Policy suggestions are drawn based on our results. 4 results 4
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- This paper contributes to the age-old debate on the link between financial development and economic growth by examining the role of monetary policy. There is a possibility that monetary policy enhances financial system performance with attendant impact on growth. To unveil this influence, this paper employs fixed effects and System GMM on data from 28 sub-Saharan African countries over the period 1996 to 2014. Results from the baseline estimation using fixed effects indicate that financial development indicators are negatively and significantly associated with growth for two of the three measures used (LGDP and PGDP), while money growth is positively related albeit insignificantly. The results largely remain the same on interaction with money growth. The coefficients of the interactive terms though largely negative are, however, not significant. The results from System GMM presents a different outcome. First, all measures of financial development turn out positive (except BBD) and insignificant. Financial development equally turns negative but insignificant after interacting with money growth. Overall, monetary policy measures, together with their interactions with financial development indicators, show up as weak growth predictors if not dampening, suggestive of the plausible independence of the nexus on the actions of monetary authorities in these countries. 3 results 3
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- A study was carried out the Evaluation of Effects of Heavy Metals on Abundance and Diversity of Soil Mites in a tropical landfill in Ibadan from April to July 2003. Heavy metal sources from natural and the anthropogenic factors have increased their bioavailability and ecological impacts in the ecosystem. The objective of the study was to assess the impact of heavy metals on soil mites in a tropical landfill site in Ibadan. Five demarcated study plots at the landfill were randomly selected and marked out with a dimension of 10 metres by 10 metres with a Control site of the same dimension located at an elevated location about 100 metres away from the edge of the landfill. Soil samples at a depth of <10 cm were collected from the study plots using a hand trowel on a monthly basis. Buckard –Model of Berlesce-Tullgren funnel extractor was used to extract soil mites while the soil samples were acid-digested for heavy metal analyses using Shimadzu Atomic Absorption Spectrophotometer. With the exception Pb (1.99 ppm) at Plot 3, all the other mean heavy metals were below that of the Control Plot (6). Soil mite taxa had higher abundance and diversity at the Control plots than in the landfill. Heavy metals Cr, Ni, Zn, Cu, Mn and Fe concentrations in the study exceeded guideline limits set by the Federal Ministry of Environment (FEPA, 1992). The study concludes that the soil in Aba- Eku landfill in Ibadan is contaminated by heavy metals. 2 results 2
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