Dr. CHUKWUKA ERNEST JEBOLISE
Publication Title • Effect of Strategic Planning on the Performance of Small and Medium Scale Enterprises in Nigeria, Evidence from Delta State
Publication Type journal
Publisher Asian Journal of Economics, Business and Accounting
Publication Authors Chukwuka, Ernest Jebolise; Imide Grace
Year Published 2022-07-08
Abstract • The study investigated the connection between success in the SME sector and the adoption of strategic planning. Despite what appears to be improved institutional support for the sector and an apparent increase in interest in starting small and medium-sized businesses in Nigeria, performance seems to be falling short of expectations. According to several reports, the poor performance of SMEs may be caused by a variety of attitudes toward strategic planning. With the use of SPSS, a descriptive and regression analysis was performed. Findings of the study include the fact that market share growth in Delta state was significantly and favorably impacted by the implementation of strategic plans. In Delta State, there was a substantial and favorable correlation between the development of the strategic plan and the profitability of small and medium-sized enterprises. The examination of cross-functional decisions has a considerable and favorable impact on customer satisfaction in Delta State. The use of strategic planning as a concept and method to achieve organizational performance is recommended for the Small and Medium Enterprises in Delta State, Nigeria.
Publication Title • Effect of Human Resource Management Practices on Employee Retention and Performance in Nigerian Insurance Industry
Publication Type journal
Publisher World Journal of Research and Review
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2018-04-04
Abstract • This study presents an empirical investigation of the effect of Human Resource Management Practices on Employee Retention and Performance in Nigerian Insurance Industry. This study was motivated by the need to solve the problem of high employee turnover in Nigerian Insurance Industry.Employee turnover is an enemy of productivity and increases cost of running a business. Human Resources (HR) are the most valuable asset of any organization that is why incessant increase in turnover of skillful human resource in an organization will create a gap that will take time to fill at extra cost. This study was guided by two key objectives, from which appropriate research questions and hypotheses were formulated. The specific objectives of this study were:(1) determine the nature of relationship between Human Resource Management Practices and employee retention in Nigerian Insurance Industry.(2) Ascertain the extent of correlation between Human Resource Management Practices and employee performance in Nigerian Insurance Industry. A Sample size of 250 was determined from the population of 785 drawn from Management and staff of selected firms from insurance industry using Taro Yamene’s formula. The data collection was by questionnaire structured in five point Likert scale. The study concludes from the result as confirmed by the survey that there was a weak and insignificant effect of HRM practices on employee Retention in Nigerian Insurance Industry. However, the study also confirmed that HRM practices have a positive and significant effect on employee performance. This paper strongly recommends that Government through NAICOM should help to check the high handedness of some insurance firms on their employees. Some of the insurance firms fail to implement Nigerian labour laws and employee work benefits.
Publication Title • Sustainability-Oriented Practices of Eco-innovation, Eco-commitment on Organizational performance of Selected Manufacturing Firms in a Developing Economy
Publication Type journal
Publisher World Journal of Research and Review
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2018-04-04
Abstract • This study presents an empirical investigation of Sustainability oriented practices of Eco-innovation, Eco-commitment and organizational performance of a developing economy. This study was also motivated by the need to solve the environmental problems caused by the activities of profit driven entrepreneurs in developing economy as well as exploring the benefits to organizations. The study was guided by three key objectives, from which appropriate research question and hypotheses were formulated. The specific objectives of this study were (1) to ascertain the extent to which eco-commitment practice affect the selected manufacturing firms employee job satisfaction. (2) To establish the degree to which eco-innovation affect market share of selected manufacturing firms in a developing economy. This study adopted the survey design. Simple random sampling technique was used in selecting the 10 manufacturing firms in Nigeria. A sample size of 543 respondents was determined from the population of 5705 drawn from management, middle and lower cadre of the selected manufacturing firms using Cochran (1977) statistical formula. A stratified sampling technique was also used to determine the proportional allocation of questionnaire to management cadre, middle cadre and lower cadre. Designed questionnaire and personal interview were used for primary data collection. The questionnaire was structured on 5-point Likert scale. The validity of the instrument was ascertained using content validity. The instrument was checked for Reliability using test re-test method through Cronbach alpha with a value of 0.90, which shows consistency in the items of survey. Data were analyzed and the hypotheses were tested using linear regression analysis. Probability level of significance was given at 5%. Data were presented using simple percentage. Findings revealed that Eco-commitment practice had a significant and positive effect on employee job satisfaction (r=.514a;F=88.065;T=9.384;p-.000). Eco-innovation had a positive effect on the market share of selected manufacturing firms in a developing economy. In conclusion, the implementation of green business practices, principles and processes will lead to very positive outcome that will be visibly manifested in the organization and the environment.
Publication Title • Green business practice; Ecopreneur; developing economy; Productivity; Performance; Manufacturing firms
Publication Type journal
Publisher International Journal of Development and Management Review
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2018-06-13
Abstract • This study presents an empirical investigation of the effect of green business practices on organizational performance of selected manufacturing firms in Nigeria. This study was also motivated by the urgent need to solve the environmental problems caused by the activities of profit driven entrepreneurs in developing economy as well as exploring the benefits to organizations. The study was guided by one key objective, from which appropriate research question and hypothesis were formulated. The specific objective of this study was to determine the extent to which green business practices affect the manufacturing firm„s productivity in Nigeria. This study adopted the survey design. Simple random sampling technique was used in selecting the 10 manufacturing firms in Nigeria. A sample size of 543 respondents was determined from the population of 5705 drawn from management, middle and lower cadre of the selected manufacturing firms using Cochran (1977) statistical formula. A stratified sampling technique was also used to determine the proportional allocation of questionnaire to management cadre, middle cadre and lower cadre. Designed questionnaire and personal interview were used for primary data collection. The questionnaire was structured on 5-point Likert scale. The validity of the instrument was ascertained using content validity. The instrument was checked for reliability using test re-test method through Cronbach alpha, with a value of 0.90, which shows consistency in the items of survey. Data were analyzed and the hypotheses were tested using linear regression analysis. Probability level of significance was given at 5%. Data were presented using simple percentages. Findings revealed that green business initiatives had significant and positive effect on the selected manufacturing firm„s productivity (r=.756, F=346.024; T=18.602;p=.000). In conclusion, the implementation of green business practices, principles and processes -2- will lead to very positive outcome that will be visibly manifested in the organization and the environment.
Publication Title Effect of Ecopreneurship on Organizational Performance of Selected Manufacturing Firms in Africa, Evidence from Nigeria.
Publication Type journal
Publisher Singaporean Journal of Business Economics and Management Studies (SJBEM)
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2018-06-02
Abstract • This study presents an empirical investigation of the effect of Ecopreneurship on organizational performance of selected manufacturing firms in Nigeria. This study was motivated by the need to solve the environmental problems caused by the activities of profit driven entrepreneurs as well as exploring the benefits to organizations. The study was guided by two key objectives, from which appropriate research questions and hypotheses were formulated. The specific objectives of this study were: (i) ascertain the extent to which ecological sustainability practices affect the profitability of selected manufacturing firms in Nigeria (ii) establish the degree to which eco-innovation affects market share of selected manufacturing firms in Nigeria. This study adopted the survey design. Simple random sampling technique was used in selecting the 10 manufacturing firms in Nigeria based on the rich ecopreneurship profiles and mode of operations of the manufacturing firms in Nigeria. A sample size of 543 respondents was determined from the population of 5705 drawn from management, middle and lower cadre of the selected manufacturing firms using Cochran (1977) statistical formula. A stratified sampling technique was also used to determine the proportional allocation of questionnaire to management cadre, middle cadre and lower cadre. Designed questionnaire and personal interview were used for primary data collection. The questionnaire was structured on 5-point Likert scale. The validity of the instrument was ascertained using content validity. The instrument was checked for Reliability using test re-test method through Cronbach alpha with a value of 0.90, which shows consistency in the items of survey. Data were analyzed and the hypotheses were tested using linear regression analysis. Probability level of significance was given at 5%. Data were presented using simple percentage. Findings revealed that Ecological sustainability had a positive and significant effect on the profitability of the selected manufacturing firms in Nigeria. Eco-innovation had a positive effect on the market share of selected manufacturing firms of south-south, Nigeria. In conclusion, the implementation of ecopreneurship practices, principles and processes will lead to very positive outcome that will be visibly manifested in the organization and the environment. The recommendations were ecopreneurship courses should be incorporated into the current entrepreneurship education curriculum. Governments should give incentives, subsidies to ecopreneurship firms by way of tax waivers and policy support.
Publication Title Entrepreneurial Potentials of COVID-19 Vaccination
Publication Type journal
Publisher International Journal of TROPICAL DISEASE & Health
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2021-10-29
Abstract The study investigated the entrepreneurial potentials of COVID-19 vaccination. The objective of the
study is to identify entrepreneurial potentials in COVID-19 vaccination, to determine the business
viability of COVID-19 vaccine production and to identify how an entrepreneur can contribute to
covid-19 vaccination. A descriptive survey research design was adopted for the study. The sample
of the study was achieved using random sampling technique. The sample for this study was 69
respondents. These respondents were selected sixty nine (69) employees of health Centres and
hospitals dispensing COVID-19 vaccines in Nigeria. The instrument used to collect data was the
questionnaire. The data collected were analyzed using simple percentage, mean, standard and chi
square. The overall finding of the study are that there is entrepreneurial potential in covid-19
vaccination, sales of vaccine, production of vaccine and distribution of vaccine are the
entrepreneurial potentials in COVID-19 vaccination; the study also revealed that there is significant
and positive relationship between Covid-19 vaccine production and profitability and It was also
discovered that entrepreneurial innovation made Covid-19 vaccines possible and a viable business
model. High demand of COVID-19 vaccine, global acceptance of the COVID-19 vaccine,
effectiveness of the vaccine has made COVID-19 vaccine production a viable business. Base on
the findings of the study, the following recommendations were made among others that government
officials should support a more productive interaction and collaboration between them and
pharmaceutical firms with a focus on capacity building for entrepreneurship development.
Publication Title Effect of Covid-19 on Small and Medium Scale Businesses in Nigeria
Publication Type journal
Publisher International Journal of Research and Innovation in Social Science (IJRISS)
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2021-11-11
Abstract The study examined the effect of COVID 19 on small
and medium businesses in Nigeria. The objective of the study is
to investigate the impact of COVID-19 on small and medium
businesses. To ascertain the impact of government COVID-19
safety protocols on the performance of small businesses and to
find out ways of minimizing the impact of COVID - 19 on small
and medium businesses in Nigeria. A descriptive survey research
design was adopted for the study. The sample of the study was
achieved using random sampling technique. The sample for this
study was 400 respondents. These respondents were selected
from proprietor/ proprietress of small and medium scale
enterprises in Asaba. The instrument used to collect data was
the questionnaire. The data collected were analyzed using simple
percentage, mean, standard and chi square. The overall findings
of the study are that Covid-19 safety protocols have significant
and positive effect on SMEs performance. The study discovered
that Covid-19 impact on small and medium businesses can be
reduced through increase engagement on digital online
businesses; the study also reveals that shortage of supplies,
production stoppage and suspension, reduces product
lines/ingredient and short?term change in production are impact
of COVID - 19 on small and medium businesses in Asaba
Metropolis and the study also discovered that government
guidelines related to Covid19 has impact on performance of
small businesses which are inflation, smooth transaction,
prevention of transmission of the virus in the cause of
transaction and reduction of crowd in business environment.
Publication Title Effects of Medical Tourism on Economic Growth of Nigeria
Publication Type journal
Publisher International Journal of Research and Innovation in Social Science (IJRISS)
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2021-10-10
Abstract Tourism is one of the fastest growing industries in the
world. It embraces areas of Physical attractions like falls and
rocks and so on; Manmade like amusement and holiday resorts;
Wild life based attractions like games, gardens and fishing
grounds; Cultural attractions like festivals, arts and crafts;
Sports like local, regional and international; and Business
tourism like seminars conferences and meetings. The focus of
this study is to investigate the effects of medical Tourism on
Nigerian economic development. In line with the objectives of the
study, the researcher adopted survey design method which made
use of primary sources (mainly with questionnaire and
observation). This work was analyzed quantitatively with simple
percentage and the hypotheses were tested with Chi-square to
validate the findings. The result revealed that medical tourism
has significant effect on economic growth of Nigeria. The result
further shows that medical tourism has positive effect on small
and medium scale enterprise in Nigeria. The result also
highlights the problems facing medical tourism in Nigeria and
under-development of the health system. It was observed that the
culture of Nigerians preferring anything foreign is also a
contributory factor to the mass exodus of Nigerians for medical
treatment outside the country. The study therefore
recommended that there should be adequate funding, improved
health care facilities, better remuneration and motivation for
health workers in order to improve health care system and
reduce medical tourism, there should be immediate ban of
government sponsored medical treatment abroad, adequate
training, enforcement of legal action against medical negligence,
improved medical research and encouraging foreign investment
and that Government should intensify vigorously the marketing
and promotion of Nigeria cultural, historical and archaeological
treasures
Publication Title Effects of Medical Tourism on Economic Growth of Nigeria
Publication Type journal
Publisher International Journal of Research and Innovation in Social Science (IJRISS)
Publication Authors Dr. Ernest Jebolise Chukwuka
Year Published 2021-10-10
Abstract Tourism is one of the fastest growing industries in the
world. It embraces areas of Physical attractions like falls and
rocks and so on; Manmade like amusement and holiday resorts;
Wild life based attractions like games, gardens and fishing
grounds; Cultural attractions like festivals, arts and crafts;
Sports like local, regional and international; and Business
tourism like seminars conferences and meetings. The focus of
this study is to investigate the effects of medical Tourism on
Nigerian economic development. In line with the objectives of the
study, the researcher adopted survey design method which made
use of primary sources (mainly with questionnaire and
observation). This work was analyzed quantitatively with simple
percentage and the hypotheses were tested with Chi-square to
validate the findings. The result revealed that medical tourism
has significant effect on economic growth of Nigeria. The result
further shows that medical tourism has positive effect on small
and medium scale enterprise in Nigeria. The result also
highlights the problems facing medical tourism in Nigeria and
under-development of the health system. It was observed that the
culture of Nigerians preferring anything foreign is also a
contributory factor to the mass exodus of Nigerians for medical
treatment outside the country. The study therefore
recommended that there should be adequate funding, improved
health care facilities, better remuneration and motivation for
health workers in order to improve health care system and
reduce medical tourism, there should be immediate ban of
government sponsored medical treatment abroad, adequate
training, enforcement of legal action against medical negligence,
improved medical research and encouraging foreign investment
and that Government should intensify vigorously the marketing
and promotion of Nigeria cultural, historical and archaeological
treasures
Publication Title Assessing the Strategic Effect of Small and Medium Scale Enterprises on Economic Development: Evidence from Delta State
Publication Type Published Research
Publisher FUWJBAFS Journal of Banking and Financial Studies Volume 2 Number 2, January-June, 2022
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 2022-01-04
Abstract The main focus of this research is on SMEs in Nigeria, their effect on economic development, the challenges they face, and what the government can do to resolve them. The study looks at the perspectives of SME owners and collects data through interviews and surveys. A descriptive survey and poll methodology was used to gather data from 100 respondents. The study observes that SMEs in Nigeria have played and is still playing significant role in increasing household income and economic development of Nigeria. The study also concludes that there is a significant relationship between SMEs growth factors and economic development in Nigeria. The study maintained that there is a significant relationship between growth in SMEs and increases in family income in Nigeria
Publication Title Entrepreneurship Development as a Strategy for Curbing Youth Unemployment in Developing Economy
Publication Type Published Research
Publisher Ijagun Journal of Social and Management Sciences
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 2023-06-08
Abstract This study examined how entrepreneurship development could serve as a reliable
strategy for curbing youth unemployment in Nigeria. It thus attempted to determine
the degree to which entrepreneurship development can help to alleviate Nigeria's
youth unemployment challenge. The study which was a descriptive survey,
analysed the role of government in attempting to make the process aneffective
method of combating the threat of unemployment. To collect data for the study, a
structured questionnaire was utilised. The study's data was evaluated in two
sections: answers to research questions and testing of hypotheses. Whereas
percentage summary statistics were utilized to answer research questions that were
already in Likert scale format. The study discovered that entrepreneurship is one of
the most potent strategic solutions to the youth unemployment problems in Nigeria
and, in a broader sense, the entire globe. The finding revealed that entrepreneurship
development as a strategy had a significant and positive effect on youth
employment and job creation and it is a potent strategy in alleviating Nigeria's
youth unemployment situation. It was also shown that the high cost of conducting
business in Nigeria has a direct and negative impact on entrepreneurship in
Nigeria. Based on the study's findings, it was recommended that the government
intervene and make policies that will lower the cost of doing business so that both
the dormant and startup businesses can be resuscitated for value addition to the
economy.
Publication Title Role of Small and Medium Scale Enterprises in Boosting Foreign Direct Investment in Nigeria
Publication Type Published Research
Publisher Jalingo Journal of Social and Management Sciences
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 2023-07-04
Abstract The study examined the potential for small and medium-sized enterprises in Delta state and by
extension Nigeria, to attract more foreign direct investment. The study was motivated by the need
to solve the problems associated with foreign direct investment in Delta State. The study was
guided by three key objectives, and it was from these that appropriate research questions and
hypotheses were derived. Survey design was used for this investigation. The 200 staff members of
the chosen SMEs in Delta State were chosen using a simple random selection approach. Using the
Cochran (1977) statistical technique, a sample size of 120 respondents was picked from a
population of 200 recruited from the management, middle, and lower cadre of the chosen
manufacturing enterprises. The study confirmed that SMEs in Delta State have the potential to
draw foreign direct investment. Additionally, it was revealed that factors like the lowering of
labour movement from rural to urban regions by fair income distribution promote foreign direct
investment in Delta State. The study also discovered that SMEs in Delta State face considerable
challenges in attracting foreign direct investment. The study, therefore recommended the
promotion of policies that will support SMEs in Delta State.
Publication Title Strategic Role of Policy Formulation and Implementation on National Economic Development of Nigeria: An Entrepreneurial Policy Approach
Publication Type Published Research
Publisher World Journal of Entrepreneurial Development Studies (WJEDS) E-ISSN 2579-0544 P-ISSN 2695-2483 Vol 9
Paper Link www.iiardjournals.org
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 0024-08-01
Abstract This research paper investigated the role of policy formulation and implementation on the
national economic development of Nigeria. The aim is to ascertain if there is a link and also to
determine the nature of the connection between policy formulation, implementation, and
Nigeria’s economic development. This study adopted a qualitative research methodology
through the extant and systematic, exploratory review of literature to carry out this study, which
is modified to understand the motivations, viewpoints, theories, and views of scholars in order to
address the study issue. This study relied on secondary sources of data. The study found that
policy formulation is essential to both social and economic progress. Good policies may advance
social fairness and equality, safeguard public health and safety, and stimulate economic
progress. A number of steps are involved in the policy-making process, such as agenda-setting,
policy drafting, adoption, and implementation. Accurate and trustworthy data, interaction with
stakeholders and decision-makers, and a dedication to evidence-based decision-making are
necessary for the effective design of policies. The study concludes, after an exhaustive review of
extant literature, that there’s a direct link between public policy formulation and implementation
and Nigeria’s economic development. The study also found that there is a positive connection
between good policy implementation and Nigeria’s economic development. The study
recommends a low-cost technique of training policy implementers and stakeholders as a
guarantee to effective policy implementation in Nigeria
Publication Title Strategic Role of Policy Formulation and Implementation on National Economic Development of Nigeria: An Entrepreneurial Policy Approach
Publication Type Published Research
Publisher World Journal of Entrepreneurial Development Studies (WJEDS) E-ISSN 2579-0544 P-ISSN 2695-2483 Vol 9
Paper Link www.iiardjournals.org
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 0024-08-01
Abstract This research paper investigated the role of policy formulation and implementation on the
national economic development of Nigeria. The aim is to ascertain if there is a link and also to
determine the nature of the connection between policy formulation, implementation, and
Nigeria’s economic development. This study adopted a qualitative research methodology
through the extant and systematic, exploratory review of literature to carry out this study, which
is modified to understand the motivations, viewpoints, theories, and views of scholars in order to
address the study issue. This study relied on secondary sources of data. The study found that
policy formulation is essential to both social and economic progress. Good policies may advance
social fairness and equality, safeguard public health and safety, and stimulate economic
progress. A number of steps are involved in the policy-making process, such as agenda-setting,
policy drafting, adoption, and implementation. Accurate and trustworthy data, interaction with
stakeholders and decision-makers, and a dedication to evidence-based decision-making are
necessary for the effective design of policies. The study concludes, after an exhaustive review of
extant literature, that there’s a direct link between public policy formulation and implementation
and Nigeria’s economic development. The study also found that there is a positive connection
between good policy implementation and Nigeria’s economic development. The study
recommends a low-cost technique of training policy implementers and stakeholders as a
guarantee to effective policy implementation in Nigeria
Publication Title Eco-Innovation, A New Business Profitability Strategy for Environmental Sustainability
Publication Type Published Research
Publisher Journal Innovation
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 2023-12-15
Abstract This paper presents an empirical investigation into an emerging field of study which seeks to ascertain the nature of
relationship or influence of eco-innovation on environmental sustainability, business profitability and viability. The failure
of market-based tools and government command and control systems to prevent harmful environmental externalities and the
undervaluation of natural resources due to the actions of profit-driven entrepreneurs leading to overexploitation and
depletion as well as climate change make this study necessary and in high demand. This study adopted the descriptive
survey design which allows for the collection of original data from the respondents of selected firms. The study discovered
that eco-innovation significantly and favorably influences the profitability and viability of businesses studied and also has a
positive and significant influence on environmental sustainability. The study also concludes that organizational practices of
eco-innovation have led to high degree of customer’s loyalty to firm’s product and sustainability of the environment. The
study concludes that Eco-innovation generates new technologies in product manufacturing and redesigns through ecoinnovation
practices and principles. The study also concludes by revealing that Eco-innovation generates new ideas and
process that’s positively associated with customer’s satisfaction.
Publication Title Effect of Air Safety Operations on Performance of Air transport Business in Nigeria
Publication Type Published Research
Publisher Journal Innovation
Publication Authors Ernest Jebolise Chukwuka, Amahi Fidelis
Year Published 2023-12-15
Abstract Nigeria aviation sector of the economy has witnessed some air mishaps in recent times hence the urgent need for this study.
The study's main objective is to determine to what extent flight safety operations, firefighting, and rescue activities affect the
Nigerian air transport Business. This research used a descriptive survey and quantitative approach to data gathering based
on the evaluation of documents and materials in order to meet its goals. 200 employees of Federal Airport Authority Abuja
were selected to make up the study's populace. The study's findings were drawn from the research work, which came to the
conclusion that Nigeria's air transportation Business is positively and significantly impacted by air safety operations which
showed a positive relationship. The implication of this conclusion is that while the air safety operations and practices of
Federal Airport Authority of Nigeria (FAAN), other regulatory bodies, and air transport companies have significantly
reduced the number of aircraft crashes in Nigeria, air safety operations still need to be strengthened. Additionally, the
research found a significant and advantageous connection between Nigerian firefighting operations and the air
transportation business. This result showed that in Nigeria, air operations are favorably and substantially correlated with
firefighting operations. This indicates that while the firefighting effort is moving in the correct way, it still requires work. The
finding recommends that government should encourage safety operations by equipping the federal Airport Authority of
Nigeria and other regulatory agencies with state of arte safety equipment and gadgets for the safety of Nigeria air space. The
air space government regulatory agencies should ensure that aircrafts that are outdated and obsolete should have no business
with Nigerian airspace.
Publication Title Strategic Role of Feasibility Study in Entrepreneurial Profitability and Project Management
Publication Type Published Research
Publisher International Journal of Business & Entrepreneurship Research ISSN: 2360-989X
Publication Authors Chukwuka, Ernest Jebolise ; Dr Igweh F
Year Published 2024-12-02
Abstract This Study investigates the Strategic role of Feasibility Study in Entrepreneurial Profitability and Project
Management as well as to ascertain the extent to which Small and medium-scale businesses undertook feasibility
studies prior to setting up their businesses. Specifically, the study was to determine the relationship between feasibility
study and entrepreneurial profitability and to ascertain the extent feasibility studies can affect project management.
One hypotheses was formulated in line with the objective of the study. Survey research design was adopted. Data were
obtained from questionnaires and analyzed with five-point liker’s scale and the three hypotheses formulated were
tested using t-test statistical tool with aid of SPSS statistical package version 20.0. From the analysis, the study
revealed that there is a significant and positive effect of feasibility study on entrepreneurial profitability and project
management. This means that feasibility study is very essential for any project success. Small and medium scale
businesses studied ensures adequate financing, considered competitors and embarked on market evaluation or
determination prior to commencement. Based on the findings, entrepreneurs should endeavour to carry out proper
feasibility studies before embarking on any business venture of their intent, as this helps them to ascertain if the
business is viable or not. The researcher recommended, among others, that Government should assist entrepreneurs in
documenting reliable market information and ensuring easy accessibility of fund, as this can increase their interest in
feasibility study.
Publication Title Strategic Impact of Artificial Intelligence (AI) on Entrepreneurial Creativity and Management
Publication Type Published Research
Publisher Interna?onal Journal of Business & Entrepreneurship Research
Publication Authors Chukwuka, Ernest Jebolise ; Dr. Igweh Florence
Year Published 2024-01-02
Abstract One of the rapidly expanding disciplines that are gaining greater attention in the corporate sector is
artificial intelligence (AI). Artificial intelligence is already being used in a wide range of industries, including
everyday life and commerce or entrepreneurship. This study examines the strategic impact of AI on Entrepreneurial
Creativity and management. The study adopted qualitative and expository analysis through the extensive review of
literature as a methodology. The corporate sector may become dependent on quicker, less expensive, and more
accurate marketing strategies as a result of the use of AI. By utilizing AI in marketing strategies, an entrepreneur may
increase audience reaction and establish a strong competitive advantage over other online firms. In addition to
marketing, it may revitalize businesses through creative ideas. Additionally, it provides solutions for challenging jobs,
which aids in the rapid expansion of businesses. As a result, we will talk about the development of the business sector,
how entrepreneurs use AI topology, and how it plays a variety of roles in the business. The study concludes that
artificial intelligence (AI) significantly and positively affects entrepreneurial creativity and management as well as
also having a significant and negative effect on human creativity. This conclusion explains the finding that as AI is
taking all aspect of works from humans, it will lead to lack of creativity and redundancy on the part of humans while
on the other hand it will inspire more creativity and innovation on some humans in their quest to keep their jobs. This
study recommends more robust top-level AI design and implementation within the entrepreneurial ecosystem.
Publication Title STRATEGIC ROLE OF ARTIFICIAL INTELLIGENCE (AI) ON HUMAN RESOURCE MANAGEMENT (HR) EMPLOYEE PERFORMANCE EVALUATION FUNCTION
Publication Type Published Research
Publisher International Journal of Entrepreneurship and Business Innovation
Publication Authors Chukwuka, Ernest Jebolise; Dibie, K.E
Year Published 2024-02-07
Abstract Purpose – This research paper aims to create a realistic
understanding of the favorable and unfavorable experiences that
employees have as a result of adopting artificial intelligence (AI) or
resorting to the old manual HR methods. It explains the difficulties and
the benefits associated with developing human resources in light of the
use of artificial intelligence or the old manual HR methods.
Design/Methodology/Approach – For this study, the researcher
employed a qualitative and exploratory research methodology. The
primary element of the qualitative method which is adjusted to
comprehend the literature, theories, motivations, viewpoints, and views
in order to answer the study issue is exploratory research. This research
used data from secondary sources.
Findings – The study found that some firms spend over two million
hours annually conducting manual HR performance reviews and
evaluations. This is a significant amount of time spent on a process that
is unreliable because it relies on people's opinions and prior
performance. Real-time Artificial intelligence AI-driven assessments not
only enable incentives and praise for good performances immediately,
but they also ensure accuracy throughout the entire process and sound
an alarm if targets are not met on time or performance standards are
declining. From the extensive review of literature, it was found that
Artificial Intelligence has a positive and significant influence on HR
function of employee performance evaluation.
Practical Implications – The study recommends a more robust top-level
AI design and implementation within the entrepreneurial ecosystem and
a robust application of Artificial Intelligence on HR function of
employee performance evaluation.
Originality/value – This research makes the unique contribution of
establishing a qualitative finding that will revolutionize the
entrepreneurial ecosystem for more employee productivity and
satisfaction.
Publication Title THE ROLE OF ENTREPRENEURIAL LEADERSHIP ON ENTREPRENEURIAL SUCCESS: THE PLACE OF LEADERSHIP AND ENTREPRENEURIAL SKILLS
Publication Type Published Research
Publisher British Journal of Management and Marketing Studies
Publication Authors Chukwuka, Ernest Jebolise ; Okonta, C. E
Year Published 2024-08-23
Abstract This research paper investigated the nature of
correlation between Entrepreneurial Leadership (EL) and
Entrepreneurial Success (ES) with the aim of ascertaining their
impacts in the organizations. It’s often said that everything rises
and falls on leadership; this statement was confirmed from the
findings of this study. The researcher adopted a qualitative
research for the exploratory and systematic review of literature.
This research used data from secondary sources. This study
found a positive and significant relationship between
Entrepreneurial Leadership (EL), and Entrepreneurial Success
(ES). First, this study found that EL had a favorable impact on
ES, indicating that the results are consistent with the findings of
some scholars which also found that EL had a positive
correlation with organizational performance. This demonstrates
that a proactive, risk-taking, creative thinking, effective use of
appropriate leadership abilities, and a greater inclination
toward emotional intelligence and stability are characteristics of
a leadership style. Furthermore, in a competitive setting, leaders
can attain Entrepreneurial Success (ES) by applying their
entrepreneurial abilities. In order to assist people in achieving
their intended level of entrepreneurial success (ES), the study
recommends that mentors or trainers should emphasize the
significance of having strong leadership skills or qualities as
well as precise entrepreneurial skills before venturing into any
business.
Publication Title DIGITAL ENTREPRENEURSHIP, THE RISK AND BUSINESS VIABILITY ASSESSMENT IN NIGERIA
Publication Type Published Research
Publisher British Journal of Management and Marketing Studies
Paper Link DOI: 10.52589/BJMMSUWFVAO0V
Publication Authors Chukwuka, Ernest Jebolise; Abude, Peter
Year Published 2024-07-03
Abstract The study assessed digital entrepreneurship, the
risk and the business viability in Nigeria. The study's specific goal
is to ascertain the degree of viability and risk assessment of digital
entrepreneurship in Nigeria’s economic space. Digital
entrepreneurship is a 21st century business model because it is an
enterprise that relies only on a digital platform that is pursued and
managed by a digital entrepreneur. Digital entrepreneurs rely on
internet resources to create and expand their digital services
enterprises. The study's sample included 400 respondents who
were chosen from Delta State's small and medium-sized business
owners and proprietors. The adopted descriptive survey method
and simple percentages were used to evaluate the data. The
overall conclusion of the study is that digital entrepreneurship is
a highly effective and viable business model in Nigeria and it is
fantastic in bringing goods and services to customers' doorsteps,
provides business owners with a platform for brand development
and content creation as well as business growth. The study
identified five major risks associated with digital entrepreneurship
as cyber security risk, information security and privacy risk, fraud
risk, copyright violation risk, infringement of trademark risk. The
study confirmed that digital entrepreneurship creates business
values at profit with lower cost of production when compared to
the cost of operating physically established businesses or other
means of doing business offline. The study also concludes
empirically that digital entrepreneurship has a low possibility of
loss but high profit possibility with the ability to manage the four
identified risks.
Publication Title THE NEXUS BETWEEN LEADERSHIP STYLE AND PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
Publication Type Published Research
Publisher African Journal of Economics and Sustainable Development
Publication Authors Chukwuka, Ernest Jebolise; Dibie, K.E
Year Published 2024-05-09
Abstract The right leadership style can facilitateemployees
motivation, inspiration, and persuade them to accomplish their
individual and organizational goals with the support of
management. Many SMEs in Nigeria do not include their staff in
the decision-making process due to a lack of strong leadership
abilities, which hinders their capacity to flourish. This study
investigated how the leadership styles of SME in Asaba, Delta
State impacts the organizational efficiency of those businesses.
The study gathered information from SME managers and owners
using a cross-sectional survey research methodology. The study
found a weak but positive nexus between authoritarian
leadership style and performance of SME. The study also
discovered that the performance of SMEs in Delta State is
significantly impacted by democratic leadership style. As a
result, it may be concluded that a democratic leadership style
impacted positively on SME performance in Delta State at the
rate of 17%. Finally, the study concludes that laissez-faire
leadership has the highest positive impact on the performance of
SMEs in Delta State. This indicated that laissez-faire leadership
had the most significant impact amongst the three leadership
styles or philosophies examined. It showed that Delta State's
small and medium-sized firms would perform 48% percent better
for every 1 percent increase in Laissez-Faire leadership.
Therefore, this study recommends that in SME management, a
laissez-faire leadership style should be applied in appropriate
situations to foster creativity
Publication Title Strategic impact of knowledge entrepreneurship on foreign direct investment in Nigeria
Publication Type Published Research
Publisher World Journal of Advanced Research and Reviews
Publication Authors Ernest Jebolise Chukwuka, Dr. Igweh F
Year Published 2024-11-07
Abstract The study investigated the strategic impact of knowledge entrepreneurship on Foreign Direct investment in Nigeria.
This study examined the rate of foreign Direct Investment (FDI) in Nigeria because the country has witnessed massive
downward sliding of foreign direct investment in recent times. To solve this problem, this study is aimed at ascertaining
the nature of impact Knowledge entrepreneurship has on foreign direct investment. The study also investigated the
cause of the massive downward sliding of foreign direct investment in Nigeria. This study adopted the survey design.
Simple random sampling technique was used in selecting the 200 staff of selected foreign direct investment firms in
Nigeria. Findings revealed that there is a positive and significant relationship between knowledge entrepreneurship
and Foreign Direct investment in Nigeria. This means that the knowledge of Foreign Direct Investment opportunity in
another country will accelerate the action of the entrepreneur in taking advantage of the opportunity to make profit in
that country. This is in tandem with Knowledge Spillover Theory of Entrepreneurship. Knowledge entrepreneurship
has the potency to attract foreign direct investment hence the positive and significant correlation. The study also found
that knowledge entrepreneurship has resulted in technological transfer to Nigeria and employment generation as well
as increased profitability and market share of the FDI operating in Nigeria.The study concludes that knowledge
entrepreneurship is a viable business model in Nigeria and that the reason for the massive and downward sliding of
Foreign Direct Investment in Nigeria currently is as a result of the national challenges of high insecurity and exchange
rate volatility
Publication Title THE NEXUS BETWEEN CULTURAL FACTORS AND ENTREPRENEURIAL PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
Publication Type Published Research
Publisher International Journal of Entrepreneurship and Business Innovation
Publication Authors Ernest Jebolise Chukwuka
Year Published 2024-08-08
Abstract This research paper presents an empirical
investigation into the nexus between cultural factors and
entrepreneurial performance of small and Medium Scale
Businesses in Nigeria. Africa is a continent dominated by Culture
and culture affects daily sales and it also affects demands and
supply as well as patronage of any business. This paper is aimed
at investigating the effect of cultural factors on entrepreneurial
performance as well as ascertaining the nature of relationship
between cultural factors and entrepreneurial performance. This
research adopted a descriptive survey method. This research used
a quantitative approach to data gathering of 200 SME employees
through a Likert scaled questionnaire for data analysis. The study
concludes through its findings that social network capital, cultural
factors, Risk-taking behavior and Work ethic and perseverance
have a significant, positive and direct effect on entrepreneurial
performance of SMEs in Delta state. The study also revealed that
other cultural factors like Attitudes toward Failure and religious
beliefs have a significant and direct effect on entrepreneurial
performance of SMEs in Delta state. The research paper
empirically showed that there is a great and significant
relationship between cultural factors and entrepreneurial
performance of SMEs in Delta state. The study has proven that
people’s culture does affect entrepreneurial performance.
Therefore this study recommends that before setting up businesses
in any location, a smart entrepreneur should first observe the
culture of the people living in that geographical location of the
proposed business to ascertain the kind of business that will be
most appropriate for the culture of the people there.
Publication Title THE NEXUS BETWEEN CULTURAL FACTORS AND ENTREPRENEURIAL PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA
Publication Type Published Research
Publisher International Journal of Entrepreneurship and Business Innovation
Publication Authors Ernest Jebolise Chukwuka
Year Published 2024-08-08
Abstract This research paper presents an empirical
investigation into the nexus between cultural factors and
entrepreneurial performance of small and Medium Scale
Businesses in Nigeria. Africa is a continent dominated by Culture
and culture affects daily sales and it also affects demands and
supply as well as patronage of any business. This paper is aimed
at investigating the effect of cultural factors on entrepreneurial
performance as well as ascertaining the nature of relationship
between cultural factors and entrepreneurial performance. This
research adopted a descriptive survey method. This research used
a quantitative approach to data gathering of 200 SME employees
through a Likert scaled questionnaire for data analysis. The study
concludes through its findings that social network capital, cultural
factors, Risk-taking behavior and Work ethic and perseverance
have a significant, positive and direct effect on entrepreneurial
performance of SMEs in Delta state. The study also revealed that
other cultural factors like Attitudes toward Failure and religious
beliefs have a significant and direct effect on entrepreneurial
performance of SMEs in Delta state. The research paper
empirically showed that there is a great and significant
relationship between cultural factors and entrepreneurial
performance of SMEs in Delta state. The study has proven that
people’s culture does affect entrepreneurial performance.
Therefore this study recommends that before setting up businesses
in any location, a smart entrepreneur should first observe the
culture of the people living in that geographical location of the
proposed business to ascertain the kind of business that will be
most appropriate for the culture of the people there.
Publication Title Contemporary Entrepreneurship: An International Entrepreneurship perspective for Economic Development of Nigeria
Publication Type Published Research
Publisher World Journal of Entrepreneurial Development Studies (WJEDS) E-ISSN 2579-0544
Paper Link www.iiardjournals.org.
Publication Authors Chukwuka, Ernest Jebolise; Dibie, K.E
Year Published 2024-05-12
Abstract This research paper extended the frontiers of knowledge in an emerging field through an
investigation of contemporary entrepreneurship and international entrepreneurship with the aim
of ascertaining the nature of connection between the aforementioned and Nigerian economic
development. With the use of references to contemporary and international entrepreneurial
literature, this article used a qualitative and analytical methodology. The theoretical evolution of
contemporary and international entrepreneurship theory is narrated, providing a framework for
evaluating its connections and linkages with theories of entrepreneurship and economic growth in
Nigeria. This is based on the classification of themes and sub-themes. Contemporary
entrepreneurship is defined by continual change, quick invention, and ever-intense competition.
Businesses employ a variety of modern strategies, including supply chain management,
information technology, and risk management, to deal with an ever-more complicated
contemporary business environment. By using these strategies, businesses may maintain their
competitiveness and quickly adjust to the ever-evolving business landscape. According to this
paper result, international entrepreneurship in the context of contemporary entrepreneurship is
still in its infancy. Still, the discipline is full with fresh thoughts and ideas that might encourage
scholars to continue studying topics like international entrepreneurial orientation and
internationalization. Through the foreign exchange remittances of Nigerian enterprises that have
internationalized, the research concludes that international entrepreneurship has had a positive
and considerable influence on Nigeria's economic development.
Publication Title The Role of Competitive Intelligence on Nigeria’s Economic Development
Publication Type Published Research
Publisher International Journal of Economics and Business Management
Paper Link DOI 10.56201/ijebm.v10.no7.2024.pg154.170.
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 2024-06-21
Abstract This research paper investigated the role of competitive intelligence in guaranteeing competitive
advantage against rival firms and ascertaining its contribution to Nigeria’s economic
development. In the constantly changing business environment of modern business, competitive
intelligence is a potent surviving strategy against turbulence that will amount to business failures.
This study adopted a qualitative research methodology through the extant and systematic
exploratory review of literature to carry out this study, which is modified to understand the
motivations, viewpoints, theories, and views of scholars in order to address the study issue. This
study relied on a secondary source of data. This study discovered and subsequently concludes that
competitive intelligence in business organizations helps organizations to have a competitive
advantage with rival firms through organizational financial return on assets (ROA) and return on
equity (ROE), as well as profitability, and contributes massively or significantly to Nigeria’s
economic development. Technology-based competitive intelligence is highly recommended for
business organizations for the fast-tracking and analysis of information, which guarantees the
competitive advantage of the firms and, in the long run contributes to Nigeria’s economic
development. Secondly, business organizations should devote more funds to competitive
intelligence in their organizations to guarantee competitive advantage.
Publication Title FEASIBILITY STUDIES AND ENTREPRENEURIAL SUCCESS OF SMALL AND MEDIUM SCALE BUSINESSES IN ASABA
Publication Type Published Research
Publisher Nigerian Journal of Management Sciences
Publication Authors Chukwuka, Ernest Jebolise; Dr. Igweh Florence
Year Published 2024-02-04
Abstract This study assesses the relationship between feasibility study and entrepreneurial success. A descriptive research
design was adopted. Data were obtained from questionnaire and tested using t-test statistical tool with aid of
SPSS statistical package version 20.0. From the analysis, the study found that small and medium scale
businesses ensure adequate financing, consider competitors and embarked on market evaluation or
determination prior to commencement. Based on the findings, entrepreneurs should endeavour to carry out
proper feasibility studies before embarking on any business venture of their intent as this helps them to ascertain
if the business is viable or not.
Publication Title Role of Small and Medium Scale Enterprises in Boosting Foreign Direct Investment in Nigeria
Publication Type Published Research
Publisher Jalingo Journal of Social and Management Sciences
Publication Authors Chukwuka, Ernest Jebolise; Imide, Israel
Year Published 2023-08-04
Abstract The study examined the potential for small and medium-sized enterprises in Delta state and by
extension Nigeria, to attract more foreign direct investment. The study was motivated by the need
to solve the problems associated with foreign direct investment in Delta State. The study was
guided by three key objectives, and it was from these that appropriate research questions and
hypotheses were derived. Survey design was used for this investigation. The 200 staff members of
the chosen SMEs in Delta State were chosen using a simple random selection approach. Using the
Cochran (1977) statistical technique, a sample size of 120 respondents was picked from a
population of 200 recruited from the management, middle, and lower cadre of the chosen
manufacturing enterprises. The study confirmed that SMEs in Delta State have the potential to
draw foreign direct investment. Additionally, it was revealed that factors like the lowering of
labour movement from rural to urban regions by fair income distribution promote foreign direct
investment in Delta State. The study also discovered that SMEs in Delta State face considerable
challenges in attracting foreign direct investment. The study, therefore recommended the
promotion of policies that will support SMEs in Delta State.
Publication Title Influence of Policy Implementation on Entrepreneurial Success and National Development
Publication Type Published Research
Publisher International Journal of Social Sciences and Management Research E-ISSN 2545-5303
Paper Link https://iiardjournals.org/journal/?j=IJSSMR
Publication Authors Chukwuka, Ernest Jebolise ; Dibie, K.E
Year Published 2024-08-07
Abstract This research paper investigated the influence of policy implementation on entrepreneurial
success and national development with the aim of ascertaining the exact nature of the influence of
policy implementation on entrepreneurial success and national development in Nigeria. This study
adopted a qualitative research methodology through the extant and systematic, exploratory review
of extant literature, which is modified to understand the motivations, viewpoints, theories, and
views of scholars in order to address the study policy implementation issues. This study relied on
secondary sources of data. The study found that there is a serious problem of implementation of
policies rather than their formulation, in Nigeria. This is a result of the upper class's competing
interests, which stem from their stark ideological differences, self-serving interests, and
manipulation of the policy-making process to their benefit. Consequently, this has left a hole or
missing piece in Nigeria's system for developing and implementing public policy. The study also
discovered that each country has its own procedure for drafting and implementing policies. For
example, in Nigeria, public policy is developed and carried out with sufficient focus solely on the
government and its agencies. In this process, civil society organizations, professional associations,
the organized business sector, and nonprofit organizations are all totally disregarded. The
numerous wonderful policies that have been developed throughout the years by the various
governments in the areas of social security, unemployment, poverty reduction, health, and
education are just a few examples. The study therefore concludes that 70% of government policies
in Nigeria are never implemented effectively, which has crippled the wheels of national
development and negatively affected entrepreneurial success. The study observed that private
sector businesses and entrepreneurial activities will thrive if good policies are effectively
implemented for national development, which fosters the ease of doing business.
Publication Title ENTREPRENEURIAL MICROBIOLOGY: A PERSPECTIVE OF MICROBIOLOGY FOR WEALTH CREATION
Publication Type Published Research
Publisher African Journal of Environment and Natural Science Research
Publication Authors Chukwuka, Glory E ; Chukwuka, Ernest Jebolise
Year Published 2024-10-09
Abstract This research paper frantically inquired to
ascertain the entrepreneurial potential of Microbiology for wealth
creation and poverty reduction. This study adopted a qualitative
research methodology through the extant and systematic,
exploratory review of literature to carry out this study which is
modified to understand the motivations, viewpoints, theories and
views of scholars in order to address the study issue. This study
relied on a secondary source of data. This study revealed that
there are many chances for innovation and expansion when
microbiology is pursued as a business or entrepreneurship.
Infectious illnesses, food safety, environmental pollution, and
renewable energy are some of the most urgent issues confronting
society today. The paper found that the worldwide market for
microbial goods, estimated at USD 160 billion in 2022, grew at a
compound annual growth rate (CAGR) of 6% between 2023 and
2033. The sector is expected to grow to be worth USD 286.53
billion by 2033. Entrepreneurs in this industry are creating new
goods and technology to solve these issues. The study discovered
that entrepreneurial microbiology has the potential to have a big
social and economic effect on the globe with the correct funding
and assistance. The study concluded that entrepreneurial
microbiology has the potential for wealth creation through the
increase in demands for microbial goods and biotechnology. The
study recommended a more robust top-level Microbiology and
biotechnology design and implementation within the
entrepreneurial ecosystem for wealth creation and poverty
reduction, as well as economic development of Nigeria.
Microbiologists should develop entrepreneurial mindset and
culture in opportunity identification and economic exploitation of
such business opportunities for self-sufficiency and self-actualization.
Publication Title ENTREPRENEURIAL MICROBIOLOGY: A PERSPECTIVE OF MICROBIOLOGY FOR WEALTH CREATION
Publication Type Published Research
Publisher African Journal of Environment and Natural Science Research
Publication Authors Chukwuka, Ernest Jebolise ; Glory Chukwuka
Year Published 2024-10-16
Abstract This research paper frantically inquired to
ascertain the entrepreneurial potential of Microbiology for wealth
creation and poverty reduction. This study adopted a qualitative
research methodology through the extant and systematic,
exploratory review of literature to carry out this study which is
modified to understand the motivations, viewpoints, theories and
views of scholars in order to address the study issue. This study
relied on a secondary source of data. This study revealed that
there are many chances for innovation and expansion when
microbiology is pursued as a business or entrepreneurship.
Infectious illnesses, food safety, environmental pollution, and
renewable energy are some of the most urgent issues confronting
society today. The paper found that the worldwide market for
microbial goods, estimated at USD 160 billion in 2022, grew at a
compound annual growth rate (CAGR) of 6% between 2023 and
2033. The sector is expected to grow to be worth USD 286.53
billion by 2033. Entrepreneurs in this industry are creating new
goods and technology to solve these issues. The study discovered
that entrepreneurial microbiology has the potential to have a big
social and economic effect on the globe with the correct funding
and assistance. The study concluded that entrepreneurial
microbiology has the potential for wealth creation through the
increase in demands for microbial goods and biotechnology. The
study recommended a more robust top-level Microbiology and
biotechnology design and implementation within the
entrepreneurial ecosystem for wealth creation and poverty
reduction, as well as economic development of Nigeria.
Microbiologists should develop entrepreneurial mindset and
culture in opportunity identification and economic exploitation of
such business opportunities for self-sufficiency and self-actualization.
KEYWORDS: Ent
Publication Title Monetary Policy and Exchange Rate Stability in Nigeria: A Poverty Reduction Approach for Entrepreneurial Success
Publication Type Published Research
Publisher International Journal of Economics and Financial Management (IJEFM)
Publication Authors Chukwuka, Ernest Jebolise; Uduh, Dominic
Year Published 2024-11-02
Abstract This study is a thorough research investigation into a Nigeria’s current exchange rate volatility
problem which has seen Naira become the worst performing currency in Africa. This is a major
economic problem in Nigeria right now. The aim of this study is to seek solution to Nigeria’s major
economic problem through a qualitative and exploratory review of extant literature of monetary
policy or policies, Exchange rate stability and its connection to poverty reduction. The study's
findings support the hypothesis that monetary policy and exchange rate stability had a significant
impact on Nigeria's poverty rate and reduction. Therefore, it is ideal that monetary authorities
implement a low-inflation monetary policy program that will concentrate on the small- and
medium-sized business-driven productive sectors of the economy in order to stabilize demand as
well as exchange rate and improve the position of the disadvantaged persons. The study confirms
a connection between poverty and exchange rate volatility, as well as the unfavorable effect of
monetary policy. The study associated fiscal dominance with the ineffectiveness of monetary
policy. It seems that during the financial system liberalization era, monetary policy had a very
strong effect on the stability of exchange rates. Additionally, the study discovered that exchange
rate volatility is typically linked to periods of low foreign exchange reserves and vice versa in
terms of external balance.This study discovered that Naira exchange rate stability can be
guaranteed when there’s more Export of Nigerian made products and less import of foreign
products which increases foreign reserves and strengthens Naira. Government can encourage this
through the incentivization of creativity, innovation and small business initiatives. In conclusion,
there is a chance that the CBN's monetary policy actions will stabilize the exchange rate.
Consequently, the paper notes that the CBN may find it difficult to achieve price stability if there
is a persistent exchange rate fluctuation.