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The study examined the effect of foreign direct investment on agricultural sector performance in Nigeria. The specific objective was to determine the extent to which foreign direct investment affects crop production, livestock, forestry, and fishery real output. This study utilized an ex-post facto research design. Secondary data were obtained from the Central Bank of Nigeria from 1986 to 2023. The time series data were analyzed using
Ordinary Least Square regression technique. The findings revealed that foreign direct investment has a significant (0.0002 < 0.05) positive effect on crop production; significant (0.0004 < 0.05) positive effect on livestock; significant (0.0044 < 0.05) positive effect on forestry; and significant (0.0010 < 0.05) positive effect on fishery real output in Nigeria. The study concludes that foreign direct investment is a panacea for agricultural sector
performance in Nigeria. It will be an innovative approach if the Federal Ministry of Agriculture and Rural Development should actively seek and attract more foreign direct investment by creating favourable policies and incentives for foreign investors to continue enhancing crop production in Nigeria. The Nigerian Investment Promotion Commission should collaborate with international agribusiness firms to introduce more advanced livestock farming technologies and practices to further boost livestock output.

Keywords: foreign direct investment, crop production, livestock, forestry, fishery
JEL Codes: C22, F15, L73, N5, Q22

The real estate development sector faces increasing financial complexities due to rising capital costs, regulatory constraints, and economic fluctuations. Traditional financing models, which require significant equity contributions and conventional bank loans, often limit developers’ ability to undertake large-scale projects. This paper explores alternative debt financing mechanisms that mitigate financial constraints while enhancing capital efficiency. Key instruments discussed include credit-enhanced bonds, debt securitization, Real Estate Investment Trusts (REITs), mezzanine financing, preferred equity, and public-private partnerships (PPPs). 

Credit-enhanced bonds, supported by bond insurance or government-backed guarantees, reduce borrowing costs and improve creditworthiness, enabling developers and municipalities to access capital at favorable terms. Debt securitization transforms illiquid real estate assets into tradable securities, increasing liquidity and diversifying investment risk. REITs provide developers with access to public and private capital markets, enhancing investment scalability while offering investors steady income and liquidity benefits.

Mezzanine financing and preferred equity serve as hybrid instruments that bridge the gap between traditional debt and equity, providing flexible funding solutions with structured return expectations. While these instruments allow developers to reduce direct equity contributions, their higher costs necessitate strategic financial planning to ensure sustainable debt servicing. Public-private partnerships (PPPs) leverage government-backed incentives and long-term investment structures to facilitate large-scale infrastructure and mixed-use developments. Case studies such as the Denver Union Station Redevelopment Project and the WestConnex toll road in Sydney illustrate the effectiveness of PPP models in aligning public and private sector interests while mitigating financial risk.

Alternative financing mechanisms provide developers with greater financial flexibility, optimize capital structures, and attract diverse investor participation. While these instruments offer substantial advantages, they also introduce regulatory, market, and risk considerations that must be carefully managed.

Keywords: Alternative finance, real estate development, credit-enhanced bonds, securitization, REITs, mezzanine financing, preferred equity, public-private partnerships, debt financing, economics, infrastructure investment.

The paper empirically investigates the impact of the external-induced shocked of COVID-19 pandemic on the stock market volatility for 15 African countries. Stock returns volatility is generated using the GARCH approach and is regressed on infectioninduced shock and death-induced shock, respectively. The pooled Ordinary Least Squares (OLS) and System-GMM estimation procedures were adopted. The empirical findings show that these COVID-19 pandemic generated severe negative shocks that led to strong volatiles in the stock markets of the countries examined. The paper recommends strong economic interventionist policies and resilience to mitigate external shocks associated with uncertainties like the COVID-19.

Keywords: External-induced shock, COVID-19 pandemic, Stock market volatility, Economic vulnerability
JEL Classification: I10, I15, F1

This study aims to empirically examine the relationship between human capital disclosure and the value of listed service firms in Nigeria. Using 23 samples of listed service firms in Nigeria, data were collected from annual reports from 2010 to 2022. The study employed regression analysis to explore the relationship between human capital disclosure and firm value, controlling for other variables. The findings of this study provided that while emotional capital disclosure indicated a negative relationship, knowledge and the social capital dimension on a firm’s value showed a positive linear relationship. The study concluded that human capital disclosure proxy by knowledge, emotional, and social capital disclosures significantly influence the value of listed service firms in Nigeria. The study recommends that information regarding knowledge, emotional, and social capital should be explicitly stated in both narrative and numerical form, in the account notes and on the financial statement face, with broad headings designating these dimensions of human capital disclosure. The study’s scope only covered the service sector of the economy while other sectors can be studied.

Keywords: Emotional capital disclosure, Firm value, Human capital disclosure, Knowledge capital disclosure, Social capital disclosure.
JEL Classification: D83, G32, J24, O34