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Energy generation has received a little or no attention over a period of time. Most scholars are focused on energy consumption and economic growth. This study empirically examined the asymmetric impact of energy generation on aggregate output in Nigeria between 1980 and 2019 using Nonlinear Autoregressive Distributed Lag (NARDL) Model. The stationarity test was conducted on the variables employed to avoid spurious regression. The result revealed that the variables were mixed at level and the first difference. The bound test result revealed that the variables are not cointegrated in the long run. Also, Wald test indicates that energy generation has short run impact on aggregate output in Nigeria. As revealed from the empirical results, from all sources of significant energy generation in Nigeria, gas generation brings the desired result to aggregate output in Nigeria. The study therefore suggests that action should refocus on the gas production subsector. This subsector needs to be developed carefully to avoid wasting this energy source by incineration. Also, the government should redirect those subsidies for petroleum products to the gas generation subsector.

The volatility in crude oil price in the global market has continuously heightened fiscal deficits in Nigeria, a net exporter of crude oil. Consequently, successive governments have often resorted to external borrowing to augment the available fiscal revenue. This has implications for economic growth. Therefore, this study evaluated the growth effect of external debt and accounted for structural break in the external debt-growth nexus in Nigeria. Annual data spanning 1981-2020 were sourced from global databases and analysed using the dynamic ordinary least square (DOLS) estimator. The result showed that external debt has growth-inhibiting effects on the Nigerian economy and that structural break matter in the analysis of the growth effect of external debt in Nigeria. The results imply that Nigeria needs to lower its external debt due to the high cost of debt servicing that accompany such debt while also improving the revenue-generating ventures in the country.

This study investigated the effect of exchange rates management on manufacturing sector in Nigeria from 1986-2019. Secondary data used in the analysis were sourced from Central Bank of Nigeria Statistical Bulletin, (2020) and World Development Indicators, (2020). Stationarity and orders of integration of the variables were examined with both Augmented-Dicky-Fuller (ADF) and Philip-Perron (PP) unit root tests. Having disaggregated manufacturing sector output into oil and non-oil source, two different models emerged. The results of Autoregressive Distributed Lag (ARDL) Bound test for co-integration revealed that the variables under oil sector model were co-integrated, while there was no evidence of co-integration in non-oil model. ARDL technique of estimation results showed that, both in the short-run and long-run, real exchange rates negatively and significantly impacted on oil manufacturing sector, while real interest rates negatively and significantly influenced the sector in the short-run. In the non-oil model, it was found that, both in the short-term and long-term, while real exchange rates negatively and significantly impacted on the sector, inflation produced positive and significant effect. Authority in Nigeria should improve on trade competitiveness of Nigeria with other countries via empowering the domestic currency to improve on domestic manufacturing sector performance.

Rural structural transformation is best defined as structural changes in the rural areas occasioned by government policies and programmes with the intention of altering the contributions of major sector of the economy for the enhancement of agricultural sector. The study aimed at investigating the impact of rural structural transformation on agricultural productivity in Nigeria. The methodology adopted for the study was Structural Autoregression (SVAR). Six variables of expenditure on education (EXPE), expenditure on health (EXPH), expenditure on electricity (EXPEL), expenditure on telecommunication (EXPTC), expenditure on roads and construction (EXPRC) and expenditure on agriculture (EXPA). Of the six explanatory variables only expenditure on agriculture was found to be negatively related to agricultural productivity, while the others were positively related to it. Several reasons of which of official corruption by the handlers of agricultural funds could possibly be one of the reasons for the negative relationship between expenditure on agriculture and agricultural productivity. Among many other recommendations was the need to provide clinics and health centres to the rural areas, provision of good and accessible roads, provision of electricity and internet facilities. This will act as motivating factors in curbing rural-urban migration, and by extension improve the lots of agricultural productivity in Nigeria. Keywords: rural, structural transformation, agricultural productivity, agricultural policies and structural VAR