UMM Journal of Accounting and Financial Management

EFFECT OF ENTREPRENEURIAL SKILLS ACQUISITION ON GROWTH OF SMALL AND MEDIUM ENTERPRISES IN FCT ABUJA

Christopher Egu BEETSEH — Thu, 31 Jul 2025 00:00:00 +0000

This study examined the effect of entrepreneurial skills acquisition on growth of small and medium enterprises (SMEs) in the Federal Capital Territory (FCT), Abuja. Specifically, it investigated the effect of intellectual skills and vocational skills on SME growth. Survey research design was adopted, the population of the study consists of two hundred and fifty four thousand six hundred and sixty eight (38,003) SMEs registered with Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) as at (2021) operating in FCT Abuja. Primary data was used and it was collected through the use of five-point likert scale questionnaire on a sample size of four hundred and forty (440) owners/ managers of the SMEs. The hypothesis of the study was tested using multiple regression analysis. The result revealed that intellectual skills and vocational skills have a significant positive effect on the growth of small and medium enterprises in FCT Abuja. The study recommended that owners and managers of SMEs in FCT Abuja should prioritize continuous intellectual development through targeted training and capacity-building programs. This can be achieved by organizing regular workshops, enrolling in entrepreneurship and business management courses, and participating in mentorship or knowledge-sharing platforms. They should actively pursue vocational training relevant to their trade, also government agencies such as the (SMEDAN) and the National Directorate of Employment (NDE) should expand and promote vocational training centers that offer practical, hands-on skills development in areas such as tailoring, carpentry, catering, digital services, and manufacturing.

BOARD DIVERSITY, ESG REPORTING, AND MARKET VALUATION IN NIGERIA, GHANA, AND SOUTH AFRICA

Osarenren Osasere AIGIENOHUWA, Osariemen Mayowa IMONITIE — Thu, 31 Jul 2025 00:00:00 +0000

This study examined the impact of board diversity and ESG reporting on the market valuation of manufacturing firms in Nigeria, Ghana, and South Africa between 2012 and 2023. This study used a quantitative, panel data, and ex-post facto design to examine how board characteristics affect ESG disclosure in listed manufacturing firms across Nigeria, Ghana, and South Africa. A purposive sample of 100 firms (8 from Ghana, 49 from Nigeria, and 43 from South Africa) was drawn based on data availability. Using panel data regression models and country-level fixed effects, the research analyzed how board gender diversity, board size, ESG disclosures, and firm-specific characteristics influenced firm value. The results indicated that ESG reporting and board size had a statistically significant and positive effect on market valuation in the full sample. However, board gender diversity did not exhibit a consistent or significant relationship with firm value. These findings provided empirical support for the value relevance of sustainability disclosures and structural board attributes in emerging African markets. The study concluded that effective ESG integration and optimal board composition enhance firm performance and investor confidence in Sub-Saharan Africa. The study recommended strengthening ESG reporting frameworks, optimizing board size for strategic oversight, fostering genuine gender inclusion on boards, and enhancing regional cooperation to promote best practices and attract long-term investment across Sub-Saharan Africa.

PETROLEUM ACCOUNTING PRACTICE AND VARIABILITY OF EARNINGS IN NIGERIAN OIL AND GAS SECTOR

Johnmark Mkav KORNA, Paul Aondona ANGAHAR, Clement Christopher AJEKWE — Tue, 09 Sep 2025 00:00:00 +0000

The work investigated accounting practice and earnings variability in the Nigerian oil and gas industry. The specific objective was to determine the effect of full cost and successful efforts accounting on earnings variability. Secondary data was sourced from the director’s reports of annual financial statements for the sampled companies studied. The ex-post facto research design was adopted to determine the effect for 8 oil and gas companies purposively selected for the period of 2006-2023. The panel regression model estimation technique was employed using the STATA computer software version 21.0 for statistical analysis. Findings revealed that full cost accounting had a negative significant effect on earnings variability while successful efforts accounting had a positive insignificant effect on earnings variability. It was recommended that oil companies operating in Nigeria should adopt full cost accounting for their operations and practice.

MACRO ECONOMIC DETERMINANTS AND TAX REVENUE IN NIGERIA

John Chika ONWUCHEKWA, Unoma Chioma JEROME — Thu, 31 Jul 2025 00:00:00 +0000

This research aims to investigate how macroeconomic factors impact Nigeria's tax revenue. To be precise, the study looked at how Nigeria's tax income is affected by GDP, trade openness, and exchange rates. Ex post facto research design was used in the study, while the data came from Federal Inland Revenue (FIRS) and Central Bank of Nigeria (CBN) statistical records covering the years 1970–2023. Data collected were analyzed using auto regressive distribution lag model (ARDL) and the result revealed that Nigeria's tax revenue is not significantly affected by GDP in the near term and also over time, GDP has a negligible negative effect on tax income. It also showed that, in the near term, trade openness significantly increases Nigeria's tax revenue and over time it has a large positive effect on tax revenue. Finally, the exchange rate has a positive but slight impact on Nigeria's tax collection in the near term, but over time, it has a major positive impact. We recommend that, government officials should closely control macroeconomic factors like GDP and exchange rates to promote higher tax revenue; the Nigerian government should continue trade liberalization policies to improve trade openness in the country; new technologies, production innovation, and policies that support sustainable resources should be put into place to boost tax revenue bases.

PETROLEUM SUBSIDY REMOVAL AS CORRELATE OF ADMINISTRATION OF PUBLIC SECONDARY SCHOOLS IN BENUE STATE, NIGERIA

Benjamin Toryila SHAAYONGO, Jacob Ternenge NEVKAA — Thu, 31 Jul 2025 00:00:00 +0000

This study investigated petroleum subsidy removal as a correlate of administration of public secondary schools in Benue State, Nigeria. The study was guided by two specific objectives which were to determine the correlation of petroleum subsidy removal with payment of staff salaries and provision of school health care facilities. Two null hypotheses were tested for the study at 0.05 level of significance. Correlational research design was adopted for the study. The population of the study comprised 2,472 teachers in 319 public secondary schools in Benue State, Nigeria. The sample size comprised 247 teachers which were selected using multi-stage sampling procedure. Questionnaires were used for data collection. Cronbach Alpha statistic was used to determine internal consistency of the instrument using 40 teachers. The result yielded co-efficient values of 0.86 for PSRQ and 0.81 for APSSQ. Pearson’s Product Moment Coefficient was used for test of hypotheses. Findings showed that petroleum subsidy removal has a strong significant positive correlation with administration public secondary schools in terms of payment of staff salaries and provision of health care facilities. The study concluded that petroleum subsidy removal has enhanced administration of public secondary schools. Therefore, it was recommended that there should be strengthening of provision of funds by government to cater for payment of staff salaries and educational planners should ensure proper planning for the provision of health care facilities in public secondary schools in the face of petroleum subsidy removal.

IMPACT OF SMALL AND MEDIUM SCALE ENTERPRISES DEVELOPMENT AGENCY OF NIGERIA’S FINANCIAL ENHANCEMENT PROGRAMME ON WOMEN AND YOUTHS EMPOWERMENT IN ABIA STATE

Kingsley Chukwudi ONYERI, Becky A. ALIEGBA — Thu, 31 Jul 2025 00:00:00 +0000

The study examined the impact of Small and Medium Scale Enterprises Development Agency of Nigeria (SMEDAN) financial enhancement programmes on women and youths empowerment in Abia State. A descriptive survey and documentary research design were adopted for the study. The target population consisted of women and youths in Abia State who had participated in SMEDAN's financial enhancement programmes. A sample size of 400 respondents was selected using the Taro Yamane sample size determination technique, from a total population of 2,000 participants in these programmes. A simple random sampling technique was employed to ensure that the sample was representative of the population. Both primary and secondary data collection methods were utilized. Primary data was gathered through a structured questionnaire, while secondary data were sourced from official organizational documents and publications from SMEDAN. Descriptive statistics were used to present the quantitative data. Inferential statistics, specifically regression analysis, were employed to test the hypotheses of the study. The findings of the study showed that both SMEDAN's Financial Assistance Programme and soft Loan Programme had a significant positive impact on the empowerment of women and youths in Abia State. Hypothesis one revealed a coefficient of 0.450 with a p-value of 0.000 (p < 0.05), indicating that the financial assistance programme significantly empowered women and youths. Hypothesis two showed a coefficient of 0.390 with a p-value of 0.002 (p < 0.05), confirming the positive impact of the loan skills programme on their empowerment. The study concluded that both SMEDAN's Financial Assistance and Loan Skills Programmes play crucial roles in enhancing the empowerment of women and youths in Abia State. Recommendations for future research and policy include: enhancing the accessibility of SMEDAN’s financial programmes, integrating more comprehensive financial literacy and entrepreneurial training, expanding the geographical scope of SMEDAN’s programmes, increasing the amount of financial assistance available to women and youths.

EFFECT OF BOARD SIZE AND BOARD COMPOSITION ON PROFITABILITY OF DEPOSIT MONEY BANKS IN NIGERIA

Thu, 31 Jul 2025 00:00:00 +0000

Profitability is an important goal of deposit money banks and where they cannot make sufficient or no profit such banks are not able to cover various costs and survive in business because of their inability to meet maturing obligations. It leads to stunted growth because of unavailability of capital for expansion, research and development into modern technology. The objective of this study was to examine the effect of board size and board composition on profitability of deposit money banks in Nigeria. The research design was ex-post facto, and the population comprised of 29 DMBs listed on the Nigeria Exchange Group as at 31^st December 2022. The sample included 12 banks which were selected based on specified criteria and secondary data were extracted from the annual reports and accounts of the sampled DMBs. Preliminary tests such as Ramsey reset test, Breuch-pagan lagrange multiplier test, Unit root test, Normality test and Hausman test were carried out. Random effect regression was used to analyse the data. The result shows that board size and board composition have positive significant effect on profitability of deposit money banks in Nigeria. The study recommends that the boards of banks should be robust, strong and with vast experience capable of making independent and fair judgments about the bank’s problems aimed at improving profitability.

EFFECT OF INTELLECTUAL CAPITAL ON PERFORMANCE OF LISTED FIRMS IN THE NON-FINANCIAL SECTOR IN NIGERIA

Sesugh IGYUSE , Patrick Iorlyam ZAYOL, Mike Terkuma SOOMYOL, Mkav Johnmark KORNA — Thu, 31 Jul 2025 00:00:00 +0000

The study investigated the effect of Intellectual capital on performance of listed firms in the non-financial sector in Nigeria, on all quoted non-financial firms in Nigeria from 2019-2023 using ex-post facto research design. The variables used were relational capital and human capital for intellectual capital, return on assets, return on equity and Tobin’s Q for firm performance. Panel regression analysis, using random effects model, as determined by Hausman specification test performed, was used for data analysis. Findings were that, there exists a negative and insignificant effect of relational capital m on both return on assets, return on equity and Tobin’s Q. However, human capital had a positive and significant effect on return on assets, return on equity and Tobin’s Q. Based on the results, the study recommended, among others, that owners and managers of firms should note that irrespective of whether the component of intellectual capital is relational or human if the process of investment and subsequent management is not planned, organized, well-coordinated, controlled and monitored such investment may not likely enhance firm performance.

EFFECT OF FIRM ATTRIBUTES ON SUSTAINABILITY DISCLOSURE OF LISTED MANUFACTURING COMPANIES IN NIGERIA

Thu, 31 Jul 2025 00:00:00 +0000

The study examined the effect of firm attributes on sustainability disclosure of listed manufacturing companies in Nigeria. The study only test for the effect of firm attributes on the environmental aspect of sustainability disclosure. The study adopts the quantitative research approach, based on an ex-post facto research design. The study population consists of 56 manufacturing companies listed on the Nigerian Exchange Group (NGX) as at 31^st December, 2024. The sample size for the study consists of 30 companies which were selected based on the non-probability sampling technique. The data (2013-2023) gotten are analyzed using the panel regression technique. The study found that, market attributes (SHP & LEV) have no significant effect on environmental disclosure of listed manufacturing companies in Nigeria. Secondly, it is found that, profitability has a significant effect while liquidity has no significant effect on environmental disclosure of listed manufacturing companies in Nigeria. Thirdly, the study found that, governance attributes (BDS and BDC) has no significant effect on environmental disclosure of listed manufacturing companies in Nigeria. The study therefore recommended that, managers of listed manufacturing companies should prioritize voluntary environmental disclosures despite the study's finding of an insignificant effect of market attributes. To enhance transparency and sustainability, companies should prioritize integrating robust environmental policies, stakeholder engagement, and targeted training programs that foster a culture of environmental accountability beyond board composition or size.

AGRO-PARTNERSHIPS’ CAPITALIZATION AND AGRIBUSINESS DEVELOPMENT IN BENUE STATE, NIGERIA

Thu, 31 Jul 2025 00:00:00 +0000

This study examined the effect of agro-partnerships’ capitalization on agribusiness development in Benue State, Nigeria. Descriptive survey research design was adopted in conducting the study. The population of the study comprise stakeholders in the agricultural value chain. These include commercial farmers, academic accountants and agriculturists, civil servants working in relevant government ministries, departments and agencies; agro-processors and manufacturing firms. A sample size of 305 representative population elements was purposively and conveniently selected from the population. Structured questionnaire were used to collect the primary data that were analysed in the study. The reliability of the instrument was tested using Cronbach’s alpha tool. Both descriptive and inferential statistics were used in analysis of the collected data, with linear regression statistic serving as inferential statistic. Findings from the study revealed a significant effect of superior assets base of agro-partnerships on agro inputs production and supply, processing and value addition. The study therefore concludes that partnerships’ capitalization has significant effect on agribusiness development in Benue State, Nigeria. It recommends the formation of agro-partnerships by smallholder agripreneurs, as well as inter-governmental and religious bodies, as a deliberate steps towards raising substantial capital for agribusiness operations.

EXTERNAL DEBT AND GROWTH DYNAMICS IN SELECTED WEST AFRICAN COUNTRIES

Jacob Sesugh ANGAHAR — Thu, 31 Jul 2025 00:00:00 +0000

This study investigates the growth implications of external debt in six selected West African countries Nigeria, Ghana, Mali, Senegal, Côte d’Ivoire, and Burkina Faso covering the period 1990–2024. Anchored on a quantitative research design within a dynamic panel framework, the study applies the System Generalized Method of Moments (GMM) to account for endogeneity and dynamic interactions. The population comprises all West African states, while the sample is restricted to the six largest economies, representing over 85% of the region’s output. The study relies on secondary data sourced from the World Development Indicators (WDI), covering GDP growth, external debt stock, debt service, and macroeconomic controls. The findings reveal that external debt stock exerts a significant negative effect on economic growth, while debt servicing is positive but statistically insignificant. Real effective exchange rate appreciation further undermines growth, whereas foreign direct investment supports GDP performance. These results highlight the inefficiency of debt utilization and its limited role in stimulating growth dynamics. The study recommends that ECOWAS governments restructure borrowing strategies by linking new debt strictly to growth-enhancing projects, thereby strengthening the capacity of external debt to positively influence long-term growth dynamics in the sub-region.