AN EVALUATION OF THE IMPACT OF THE CONSOLIDATION OF THE INSURANCE COMPANIES ON THE ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA.
AN EVALUATION OF THE IMPACT OF THE CONSOLIDATION OF THE INSURANCE COMPANIES ON THE ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA.
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Date
2011-06
Authors
AWWAL,YUSUF MOHAMMAD
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Abstract
The research carried out is on Evaluation of the impact of the consolidation of insurance
companies on Economic growth and development in Nigeria. The main objective is to
evaluate the impact of the Insurance Companies’ consolidation on the Gross Domestic
Product (GDP) in Nigeria. The Econometric technique method of analysis was used. The
econometric model was based on Capital Assets Pricing Model (CAPM). Relying on data
collected an in depth analysis from 1988 to 2008 shows that the Gross Domestic
Product (GDP) of the economy would increase by about 55 percent variation for a unit
change in the consolidation policy while holding other economic variables constant.
This scenario leads credence to the fact that consolidation policy has positive
impact on the economic growth and development of the country if all structural
bottlenecks to implementation are removed. It is also recognized that the impact of
consolidation policy on insurance companies to achieve the desired economic growth
and development may not be necessary contemporaneous, but long lived if properly
managed-especially as capital projects and human activities tends to have long gestation
periods. To achieve intermediate and long-term economic aspirations to make Nigeria
among the 20th most industrialized countries of the world (FSS 2020), efforts should be
directed to develop a modern, well-structured, efficient and competitive insurance sub
sector that caters for the long term needs of the economy.
Description
YUSUF MOHAMMAD AWWAL
M.SC/SOC-SCIE/06221/2006-2007
BEING A RESEARCH THESIS SUBMITTED TO THE DEPARTMENT OF
ECONOMICS FACULTY OF SOCIAL SCIENCES AHMADU BELLO UNIVERSITY, ZARIA.
IN PARTIAL FULFILMENT OF THE REQUIREMENT
FOR THE AWARD OF MASTERS DEGREE IN ECONOMICS
SUPERVISORS:
DR ISHAYA AUDU
PROF.(MRS) P.S.AKU
JUNE 2011