An international, multidisciplinary, open-access journal publishing high-quality original research in social sciences, management, and related studies in African and related economies.
This study presents a microeconomic assessment of the impact of the May 2023 fuel subsidy removal on real estate affordability and housing access in Nigeria, utilizing cross-sectional data from 400 respondents across the six geopolitical zones. Employing Binary Logistic Regression complemented by a Keynesian multiplier framework, the research investigates the multiplier effects of subsidy removal on Nigeria's real estate affordability. The findings reveal that subsidy removal exerts a coefficient of −40.388 on household income, significantly undermining real estate affordability through two primary channels: the erosion of household income and the cost-push transmission of fuel price increases into construction costs, rents, and property prices (price change effect = −2.494, p = 0.017). Personal finance, with a coefficient of 2.953 (p = 0.008), emerges as the strongest positive determinant of real estate affordability, while the subsidy removal poverty effect (−3.879, p = 0.020) records the most significant compounding negative impact. Low-income earners particularly those earning ₦20,000 and below, who account for 52% of those most affected; middle-aged individuals between 41 and 55 years, and male-headed households, comprising 70% of those impacted, bear the greatest burden of subsidy-induced affordability shocks. These findings underscore the cascading nature of fuel subsidy removal on Nigeria's housing market and call for deliberate policy interventions, including social housing investment, rent stabilisation, and targeted income support programmes.
Ikechukwu Eze Okereke, Ikwor Ogbonnaya, Okereke Chukwu Ugwu, Walter K. Ohagoro
Persistent fluctuations in oil prices remain a major source of macroeconomic instability in Nigeria. Against this backdrop, this study examines the impact of oil price volatility on economic growth in Nigeria using annual data from 1970 to 2022. Specifically, it evaluates how volatility in petrol, diesel, gas, and kerosene pump prices influences the growth rate of real gross domestic product (RGDP). The study relies on secondary data obtained from the World Bank database, the Central Bank of Nigeria (CBN) Statistical Bulletin, and volatility series generated using the GARCH framework. The Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) tests confirm a mixture of I(0) and I(1) variables, justifying the use of the Autoregressive Distributed Lag (ARDL) model. The results indicate that, in the long run, petrol and kerosene price volatilities have negative and statistically significant effects on RGDP, suggesting that instability in these key energy prices constrains economic growth. In contrast, diesel and gas price volatilities are not statistically significant, indicating no meaningful long-run impact on aggregate output. Evidence from the EGARCH model further reveals asymmetric volatility in petrol prices, where negative shocks exert stronger disruptive effects than positive shocks. The study concludes that volatility in petrol and kerosene prices poses significant risks to economic stability in Nigeria. It recommends the adoption of effective price stabilization measures, including strategic reserves, hedging mechanisms, and targeted subsidies, alongside broader structural reforms aimed at economic diversification and resilience to external shocks.
Rita Amarachi Kalu, Kelechi Charity Ojide, and Cecilia Kalu Onuoha
The Nigerian economy has for decades, relied heavily on crude oil, resulting in a mono-product structure, which has consequently led to an unstable growth trajectory driven by fluctuation in oil prices. This study uses annual data from 1986 to 2021 to assess the impact of non-oil trade on Nigerian economic growth. This study checks how trade outside oil shapes Nigeria economy. The Autoregressive Distributed Lag (ARDL) model was employed to analyze both the short-run and long-run of non-oil exports, non-oil imports, and the rate of exchange on real GDP. The findings reveal that non-oil exports, non-oil imports, and exchange rate exert significant (p < 0.05) effect economic growth in the short run, while their long-run impacts are not statistically significant. The error correction term confirms a steady long-term relationship with a moderate rate of adjustment. To promote long-term economic growth in Nigeria, this study suggests boosting non-oil sectors, increasing export competitiveness, and maintaining a stable currency rate regime.
African Journal of Social Science and Management (AJSSM) is an international, multidisciplinary, open-access, and peer-reviewed journal that aims to publish high-quality original articles, both theoretical and empirical, in all areas of social sciences, management, and related studies in African and related economies.
AJSSM is one of the top preferred journals among early and mid-career researchers, owing to its research mentorship approach to manuscript review using MS Word Track Changes.
Journal Details
TypeOpen Access, Peer-Reviewed
ModeOnline
FrequencyQuarterly (4 issues/year)
CitationAPA 7th Edition
Similarity Index≤ 25% threshold
IndexingProcessing
LicenseCC BY 4.0
Article Processing Charges
FREE
for Volume 1 & 2
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Our reviewers do more than evaluate — they mentor. Reviewers provide detailed, constructive feedback that helps authors improve their work while learning the craft of academic writing.
Every submitted manuscript undergoes initial editorial screening, followed by evaluation by 2–3 independent expert reviewers. Both author and reviewer identities remain confidential throughout the process.
AJSSM covers a broad multidisciplinary range across social sciences, management, and related studies. Research falling within any of the following fields is welcome for submission.
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