Deregulation of Foreign Exchange Market and its Effect on Industrial Produce in Nigeria
The problem of the effect of high regulation in the foreign exchange market which in advertently have a determining factor on the performance of business organizations is an issue of concern most especially in industries in Nigeria. Data on variables which are relevant to this study like industrial produce, exchange rate, and inflation rate, labour force per time, capital stock and political regulations/ instability were gathered from secondary source like the Central Bank of Nigeria statistical bulletin. The data were analyzed using the ordinary least square econometric technique and the result showed that while both labour and capital are positively significant in explaining industrial produce, inflation was negatively significant in explaining it. This paper thus recommended amongst others that the educational sector should be prioritized by the government in order to have a strong labour force, and also long term funds should be provided for the growth of the manufacturing sector.
Ochei Ailemen I, Areghan Akhanolu I*and Tochukwu Chibuzor O