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Purpose West Africa represents a very good case of a sub-region currently plagued with the problem of food insecurity. Traditional theories have attributed the increasing food insecurity in the region to problems of poor governance, corruption and climate change. In view of the persistent and increasing nature of armed conflict in the sub-region, the purpose of this paper is to examine the effect of increasing armed conflict on food security in Economic Community of West African States (ECOWAS) member countries. Design/methodology/approach The study utilized the dynamic generalized method of moments (GMM) to investigate the effect of conflict intensity on food security in the 14 member states of the ECOWAS using annualized panel data from 2005 to 2015. Findings The findings reveal that armed conflict is a significant predictor of food security in West Africa. Research limitations/implications The findings of the study bring to fore, the urgent need to rethink global initiative for combating food insecurity. The effort must also identify the causes of armed conflicts and design sound strategies for de-escalating the armed conflicts. Resolving the escalating armed conflict entails developing a conflict resolution framework that is extremely sensitive to the causes of conflict in Africa and adopting localized ex ante institutional diagnostics that would help in understanding the nature of the conflicts. Originality/value Traditional theory perceives climate change, social injustices, property right, food insecurity, religious extremism and bad governance as the predictors of armed conflicts. In this study, the authors departed from the traditional theory by demonstrating that the nature and trend of armed conflict could also pose a serious threat to food security.

This work was set out to measure the responsiveness of foreign reserves to exchange rate variables with a focus on the Nigerian economy. Foreign reserve was used as a dependent variable and all the exchange rate related variables used as independent variables. Time series data spanning 1996 to 2016 was used. A combined use of the Auto Regressive Distributed Lag Model (ARDL) and correlation matrix were employed. It was found that a positively significant relationship exists between real exchange rate and reserves with nominal exchange rate sharing a positive but nonsignificant relationship with foreign reserves. This makes a case for proper policy direction in the management of exchange rate in a manner that produces the best economic results for the Nigerian economy. The results are considered useful for economies in the shape of Nigeria for generalization and policy direction in the management of foreign reserve and its interface with exchange rate and its related factors. . Contribution/Originality:This study contributes to the existing literature by uncoupling exchange rate into nominal and real in measuring the nexus with foreign reserves. This study uses new estimation methodology which is the ARDL approach unlike prior studies that used OLS predominantly. The paper contributes the first logical analysis by carrying out pre-test, estimation proper and diagnostic analyses. The paper's primary contribution is that it exposes the fact that a nexus exists between foreign reserves and changes in exchange rate.

Purpose The purpose of this study is to investigate the energy–growth linkage in sub-Saharan Africa (SSA), with emphasis on real sectors’ contribution to aggregate growth using dynamic panel estimation techniques that are practically and conceptually superior to the static models. Design/methodology/approach Dynamic panel econometric techniques pooled mean group, mean group and dynamic fixed effect were used to investigate the linkage among energy consumption, real sector value added and economic growth from 1967 to 2016 in 48 SSA countries. Findings A strong empirical evidence in favor of energy dependence and growth hypothesis in the investigated SSA countries was found. The finding that real sector value added and overall growth rate adjust reasonably to the shocks and dynamics of the energy consumption variables makes energy consumption an enabler for growth. This indicates that well thought-out and implemented energy development policy will not only increase energy consumption but also elicit multi-sectoral growth while addressing the obvious energy deficiency in the SSA region. Research limitations/implications It is also important to note the policy implications of the high adjustment profiles indicated by the error correction representations. All the speeds of adjustment of the three models denominated in time are slightly above a year and are all within predictable limits (they fall below unity or 100%). We found that when agriculture value added, manufacturing value added and overall economic growth rate in our SSA panel estimation exceed equilibrium levels as a result of deviations arising from energy related variables, downward adjustments at 66%, 62% and 78% per year, respectively, take place. Practical implications The study indicates that well thought-out and implemented energy development policy will not only increase energy consumption but also elicit multi-sectoral growth while addressing the obvious energy deficiency in the SSA region. Social implications Much as this study has made some addition to the literature on energy-growth nexus in the SSA region, which undoubtedly is an unveiling of economic forces in a collection of developing and energy deficient economies, it will be of great research significance if the form and style of this study is adopted for other economic blocs in the shapes and sizes of the SSA region. Originality/value This study ensured currency of data, novelty of approach and disaggregated energy consumption into emerging sources, traditional sources and geographical access.

This paper examined the impact of social entrepreneurship on sustainability of business development in Nigeria. The objectives of the study include: to identify major evolution experienced by social enterprise in Nigeria, to identify key challenges in social entrepreneurship in Nigeria, to identify current trends in social entrepreneurship in Nigeria, and to carry out an analysis on sources of funds for financing the social entrepreneurs. Survey approach was the research design used with particular reference to selected small and medium enterprises (SME) in Nigeria. It was observed that political factors, economic factors, socio-cultural factors, cross country factors and technological factors are the major evolution experienced by social enterprise in Nigeria. It was also observed that lack of education in entrepreneurship, lack of financial assistance, comparative disadvantages to business, lack of government support and lack of skilled manpower are the key challenges in social entrepreneurship in Nigeria. The current trends in social entrepreneurship in Nigeria are social media and the role of technology, rise of decentralized micro-giving opportunities, cross-sector partnerships and government drive for an all-inclusive economic growth and development through SME. The analysis carried out on sources of funds for financing the social entrepreneurs are contributions from social entrepreneurs, subventions from government, donor supports, loans and advances and retained earnings/reserves.