EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIA
The study examined exchange rate on the performance of the manufacturing sector in Nigeria. The specific objectives were to; examine the impact of exchange rate and money supply on the performance of the manufacturing sector in Nigeria. Secondary data was extracted from Central Statistical Bulletin...
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| Format: | Article |
| Language: | English |
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Federal University Wukari
2023-07-01
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| Series: | International Studies Journal |
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| Online Access: | https://wissjournals.com.ng/index.php/wiss/article/view/118 |
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| author | Helen Walter Mboto Takon Samuel Manyo A. Omang Bekom Stephen Ekpo Nkamare Asukwo Joseph Ita |
| author_facet | Helen Walter Mboto Takon Samuel Manyo A. Omang Bekom Stephen Ekpo Nkamare Asukwo Joseph Ita |
| author_sort | Helen Walter Mboto |
| collection | DOAJ |
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The study examined exchange rate on the performance of the manufacturing sector in Nigeria. The specific objectives were to; examine the impact of exchange rate and money supply on the performance of the manufacturing sector in Nigeria. Secondary data was extracted from Central Statistical Bulletin, 2021. Ordinary least square of multiple regression technique was employed to examine the impact of independent on dependent variables. Based on the results, the findings revealed that exchange rate had negative and significant impact on performance of manufacturing sector, while money supply had a positive and significant effect on the performance of the manufacturing sector. The study recommended thatthere is need for local sourcing of raw materials and input through agriculture and technological policy. By so doing, it will lead to expansion of export base which would attract more foreign exchange into the country. Also, the monetary authority should introduce direct policies of regulating price stability in the economy via regulating money supply in order to decelerate the rising inflationary trend in the economy.
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| format | Article |
| id | doaj-art-70ae72105f024d4fabe7acae20f8e7bb |
| institution | Kabale University |
| issn | 2756-4649 |
| language | English |
| publishDate | 2023-07-01 |
| publisher | Federal University Wukari |
| record_format | Article |
| series | International Studies Journal |
| spelling | doaj-art-70ae72105f024d4fabe7acae20f8e7bb2025-02-10T10:01:16ZengFederal University WukariInternational Studies Journal2756-46492023-07-0171EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIAHelen Walter Mboto0Takon Samuel Manyo1A. Omang Bekom2Stephen Ekpo Nkamare3Asukwo Joseph Ita4University of CalabarUniversity of CalabarUniversity of CalabarUniversity of CalabarUniversity of Calabar The study examined exchange rate on the performance of the manufacturing sector in Nigeria. The specific objectives were to; examine the impact of exchange rate and money supply on the performance of the manufacturing sector in Nigeria. Secondary data was extracted from Central Statistical Bulletin, 2021. Ordinary least square of multiple regression technique was employed to examine the impact of independent on dependent variables. Based on the results, the findings revealed that exchange rate had negative and significant impact on performance of manufacturing sector, while money supply had a positive and significant effect on the performance of the manufacturing sector. The study recommended thatthere is need for local sourcing of raw materials and input through agriculture and technological policy. By so doing, it will lead to expansion of export base which would attract more foreign exchange into the country. Also, the monetary authority should introduce direct policies of regulating price stability in the economy via regulating money supply in order to decelerate the rising inflationary trend in the economy. https://wissjournals.com.ng/index.php/wiss/article/view/118Exchange ratemoney supplymanufacturing sector |
| spellingShingle | Helen Walter Mboto Takon Samuel Manyo A. Omang Bekom Stephen Ekpo Nkamare Asukwo Joseph Ita EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIA International Studies Journal Exchange rate money supply manufacturing sector |
| title | EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIA |
| title_full | EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIA |
| title_fullStr | EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIA |
| title_full_unstemmed | EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIA |
| title_short | EXCHANGE RATE ON THE PERFORMANCE OF THE MANUFACTURING SECTOR IN NIGERIA |
| title_sort | exchange rate on the performance of the manufacturing sector in nigeria |
| topic | Exchange rate money supply manufacturing sector |
| url | https://wissjournals.com.ng/index.php/wiss/article/view/118 |
| work_keys_str_mv | AT helenwaltermboto exchangerateontheperformanceofthemanufacturingsectorinnigeria AT takonsamuelmanyo exchangerateontheperformanceofthemanufacturingsectorinnigeria AT aomangbekom exchangerateontheperformanceofthemanufacturingsectorinnigeria AT stephenekponkamare exchangerateontheperformanceofthemanufacturingsectorinnigeria AT asukwojosephita exchangerateontheperformanceofthemanufacturingsectorinnigeria |