{"title":"The Growth Opportunities for Nigeria in Joining the African Continental Free Trade Area.","authors":"Adejoke Oyebanji-Umaigba, silva Opuala-Charles","doi":"10.60089/dbebj.2024.4.1.15","DOIUrl":"https://doi.org/10.60089/dbebj.2024.4.1.15","url":null,"abstract":"This Article examines the African Continental Free Trade Area (AfCFTA), focusing on its inception, goals, challenges, and specific implications for Nigeria. Africa, with abundant natural resources and cultural diversity, faces hindrances like poor infrastructure and governance, limiting intra-African trade. Established in 2018, AfCFTA aims to create a competitive single African market by eliminating tariffs and barriers. AfCFTA objectives span tariff elimination, customs harmonization, dispute resolution, and cooperation on technical barriers. Challenges include infrastructure gaps, non-tariff barriers, economic diversity, competition adjustments, informal trade, political instability, capacity constraints, and financing issues. Mitigating these requires strategies like infrastructure development, trade facilitation, capacity building, and harmonizing standards. Nigeria, as Africa's largest economy, could benefit from AfCFTA by accessing cheaper goods. However, implementation faces delays due to unmet trade requirements. The National Action Committee outlines pillars for effective implementation, emphasizing institutional development, export growth, improved trade facilitation, and infrastructure development. Despite Nigeria's delay, the upcoming Guided Trade Initiative in October 2023 is anticipated to accelerate its participation in AfCFTA, fostering economic growth and trade relations within the continent. Keywords: Global trade, globalization, AfCFTA, Trade Block, Commerce.","PeriodicalId":502418,"journal":{"name":"DiamondBridge Economics and Business Journal","volume":"281 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140457502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exchange Rate Management Reforms and Restoring the Dignity of the Naira","authors":"Ukinebo Blessing Asemota-Osifo, silva Opuala-Charles","doi":"10.60089/dbebj.2024.4.1.14","DOIUrl":"https://doi.org/10.60089/dbebj.2024.4.1.14","url":null,"abstract":"This article provides comprehensive advice to the Federal Government of Nigeria (FGN) on exchange rate management in order to restore exchange rates to pre-President Buhari administration levels. Nigeria's exchange rate dynamics have witnessed significant changes in recent years, and this article presents a multifaceted approach to address the challenges faced by the FGN. By examining the historical context and global economic trends, this article offers policy recommendations encompassing fiscal, monetary, and structural reforms. It aims to guide the FGN in achieving stability and competitiveness in the international foreign exchange market. Keywords: Fiscal policy, Monetary policy, Exchange rate management, Structural reform","PeriodicalId":502418,"journal":{"name":"DiamondBridge Economics and Business Journal","volume":"36 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140465053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial Position and its Global Impact on Performance of First Bank of Nigeria","authors":"Chioma Happiness Wariboko, Onyebuchi Odianjo","doi":"10.60089/dbebj.2024.4.1.1","DOIUrl":"https://doi.org/10.60089/dbebj.2024.4.1.1","url":null,"abstract":"First bank is Nigeria’s oldest bank established since 1894 with global business network ranking within the top five hundred global banking brands. The bank’s core business is providing financial services to individuals, corporate customers and public institutions. The business segment includes the Group’s domestic, international and representative offices offering commercial banking services in ten countries including the UK, Gambia, Senegal, Sierra Leone, China, etc. First Bank has taken the lead in stimulating the Nigerian economy with the roll out of an array of products such as First Advance, USSD banking service, First gem, and Agent banking; to empower customers and boost their business initiatives. With over eighteen million customers, the bank specializes in retail banking and has the largest client base in West Africa. First Bank has played a critical role in financing and supporting the economic growth of Nigeria through Agricultural expansion support, providing multi sectoral business solutions, enterprise elevation of small and medium scale enterprises geared towards fostering sustainable socio-economic value in Nigeria This report aims to determine the bank's global impact and profitability using cash flow analysis and results reveal that the bank is currently thriving on strong market fundamentals and will make giant strides in future.","PeriodicalId":502418,"journal":{"name":"DiamondBridge Economics and Business Journal","volume":"25 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139600012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Clan Culture and Performance Organization","authors":"Bose Anya Udochukwu","doi":"10.60089/dbebj.2024.4.1.2","DOIUrl":"https://doi.org/10.60089/dbebj.2024.4.1.2","url":null,"abstract":"This paper seeks to understand the nature of the relationship that exists between clan culture and organisational performance. While numerous factors contribute to organizational performance, one aspect that holds immense potential is the cultivation of a clan culture. Clan culture, rooted in collaboration, shared values, and a strong sense of community, has proven to be a catalyst for driving organizational performance to new heights. We examined the influence of clan culture on organisational performance, while highlighting the benefits, and proposing ways to create a performance-focused clan culture. Theories such as organizational culture theory, social exchange theory, transformational leadership theory, and social identity theory were all discussed in the course of this research under the theoretical framework. While some authors through their studies revealed that there is a positive significant relationship between clan culture and organizational performance, others do not agree to it. On a different level, some researchers rather see this relationship as causal. After extant empirical and non-empirical reviews, this paper identifies a common ground for various positions and arguments from different authors. This work reveals that clan culture and organizational performance are not mutually exclusive; instead, they complement and reinforce each other. The synergy between clan culture and performance organization paves the way for sustained success, increased productivity, and a thriving organizational culture. Keywords: Clan Culture; Performance Organization; Collaboration; Teamwork","PeriodicalId":502418,"journal":{"name":"DiamondBridge Economics and Business Journal","volume":"26 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139599326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Creation of Ponitec Allied Limited for Manufacturing of Palm Fruit Products and By-Products","authors":"Abel-Tariah Ezekiel","doi":"10.60089/dbebj.2024.4.1.3","DOIUrl":"https://doi.org/10.60089/dbebj.2024.4.1.3","url":null,"abstract":"Ponitec Allied Limited is a startup business venture established in 2015 with core in Agriculture. It produces Crude Palm Oil (CPO), Palk Kernel Oil (PKO) including other associated by-products of Palm trees. One of its competitive advantage across the industry centers on manufacturing hygienic high quality products and the Activated Carbon Charcoal. The company operates in line with global standard through the use of latest machines, hygienic processing environment, cutting edge storage facilities and proper fruits handling. With ownership of about 136 hectares of land for plantation with 10 tonne factory, it has the capacity to produce 10 tonne of product per day. Some of its major customers cut across food refining companies, non-food industries plus wholesalers and retailers. The company competes with big players like; Okomu and Presco, Dufil Prima, Ibiae Oil Palm amongst others. Business revenue projection for a period of five years showed ₦186,212,500 in first year, ₦ 223,455.000 in second year; ₦246,249,500 for the third year; ₦ 420,651,000 in fourth year and ₦ 523,711,000 in the fifth year. The risk predominant with the business beckon on factors as; unstable exchange rate, theft, pest outbreak and reputational risk of quality.","PeriodicalId":502418,"journal":{"name":"DiamondBridge Economics and Business Journal","volume":"14 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139602535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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