This study assessed the significance of monetary policy on inflationary rate in Nigeria from 1986 to 2016. Quarterly and yearly secondary data sourced from CBN Statistical Bulletin 2016 and World Bank Development Index 2016 were used in this study. The Vector Autoregressive Model (VAR) was used for the estimation. The following variables were analyzed: Exchange Rate (EXR), Inflation Rate (INFR), Broad Money Supply (BMS, Interest Rate (INTR) and reserve ratio (RR). Total Adult Population (ADP) Bank Branches (BB) and Commercial Bank Deposits (CBD) were also used to assess the strength and weakness of monetary policy on inflationary rate in Nigeria through financial exclusion. However, it was found out based on co integration test that there is a long run relationship between the variables employed, the causality test shows a very weak transmission effect between the variables. More so the VAR estimates shows that, interest rate, broad money and reserve ratio are not statistically significant, but expectedly exchange rate is significant and therefore accounts for the variations in inflationary rate in Nigeria. In the same vein the impulse response function shows that exchange rate, inflation rate and money supply responded to shocks on interest rate though in different dimensions and finally, the assessment of financial exclusion shows that, the rate of exclusion has been decreasing overtime but still very high and far more than the rate of inclusion which has rendered monetary policy ineffective and inefficient in tackling inflation in Nigeria. Consequently, it was recommended that: The government should ensure proper coordination of policy instruments so that policy measures are can be transmitted or channeled in order to effectively meet and control target objectives especially inflationary rate in Nigeria. Also the government should ensure exchange rate stability and most importantly our multiple exchange rate system which is detrimental to our economy
This research work tends to explore the underlying hindrance of the Umunomo community in it's development and progress, and as well postulate a way for to ameliorate such situations.
As an investor, how and where do I put money or invest during this pandemic? In crisis like this, in the stock market, some stocks do perform well. Looking back at last recession, in U.S. for example, 34 stocks out of S&P 500 had positive returns. These stocks did better despite the recession because of one reason or the other. Therefore, x-raying the reasons and patterns as to what led to these stocks doing well can be a good guide. Healthcare service sector stocks are likely to post good return. You need health care to live and as much less likely to avoid expense on them when income declines. Technically, there is price inelasticity. That is consumers’ buying habit stay about the same even when prices go up; meaning that 1% change in the price of a good or service has less than 1% change in quantity demanded or supplied. So look for these sectors and invest in them.
Pig production is profitable and economically viable. You can easily break even and record profit within the first year of production.