Oladipo Adenike

This study examined the impact of working capital management on the profitability of selected quoted agricultural and agro-allied companies (from 2012 to 2016) in Nigeria. Secondary data were extracted from eighteen quoted agricultural and agro-allied companies in Nigeria, four of which are agricultural companies out of the twenty-three in Nigeria. Descriptive research design and regression analysis were used. Working capital management was measured using the trade receivables collection period, trade payables, payment period, inventory turnover period, and cash conversion cycle, while profit before interest and tax measured profitability. This study found that working capital management and profitability are related to the agriculture and agro-allied sector in Nigeria. The result shows the trade receivables collection period and profitability are negatively related. The result also shows the trade payables payment period and profitability are positively related. The result shows that the inventory turnover period and profitability are related, the cash conversion cycle and profitability are positively related. The conclusion is that working capital management and profitability are related. If the management of firms takes efficient and effective decisions in managing the company’s working capital, all things being equal, the maximization of the firm’s profitability, value, and shareholders’ wealth can be guaranteed. Consequently, agency costs asserted by agency theory would be eliminated automatically.

Acknowledgment
All researchers and non-researchers that contributed to this paper are highly appreciated.

The essence of local government as contained in the Nigerian Constitution is bringing government closer to the people and make them feel the impact of governance. This study examined the responsiveness of rural development to three of the attributes of public budgeting (effectiveness, openness, and adequacy) in selected local governments in Ogun State, Nigeria. The objective was to establish the functional association and interconnectedness between the explained and explanatory variables. Data were gathered through the administration of a five-point Likert scale questionnaire distributed to 800 respondents in 8 local governments in Ogun States, out of which 348, representing 43.5%, were retrieved and used for analysis. Both descriptive statistics and ordinary least square regression were utilized in the study. The result showed that three explanatory variables, namely budget effectiveness, budget openness, and budget adequacy, are positively related to rural development, although the impact of budget adequacy was shown to be insignificant. The implication is that the effectiveness of budget management and the openness of the budget in terms of transparency and accountability are more responsive and influential determinants of rural development than the adequacy of the budget estimates. The paper, therefore, recommended improvement in budget openness through more consultations and accessibility to budget information by the public as well as monitoring of projects and programs within the local council to engender development and add value to the rural dwellers.

Type of article: Research Article

Abstract
Poverty remains a pressing challenge in developing economies, an necessitating analysis of financial and macroeconomic drivers of poverty reduction. Financial inclusion, particularly through access to savings and credit, has gained prominence as a pathway for households to build resilience, smooth consumption, and invest in productive ventures. This study examines the short-run and long-run effects of savings and credit from deposit money banks (DMBs) and microfinance banks (MFBs) on poverty reduction in Nigeria, with poverty headcount as the dependent variable. The Autoregressive Distributed Lag (ARDL) model was employed, using time-series data obtained from reputable national and international organizations. Findings show that DMB savings significantly reduce poverty in both the short run (coefficient = 0.0077, p = 0.0389) and long run (–0.0393, p = 0.0036), emphasizing their role in mobilizing resources that enhance household welfare. DMB credit also reduces poverty in the short run (0.0031, p = 0.0005) and demonstrates marginal long-run significance (0.0199, p = 0.0914), reflecting its contribution to productive opportunities. By contrast, MFB savings show only weak short-run significance (–0.0059, p = 0.0799) and no long-run effect (–0.0393, p = 0.2366), while MFB credit remains insignificant in both the short run (0.0025, p = 0.3973) and long run (0.0155, p = 0.5222). The study recommends that DMBs should extend short-term savings benefits into long-term poverty reduction and sustain credit facilities. MFBs should improve savings mobilization through government-backed incentives and restructure credit with lower rates, flexible repayment, and financial literacy to strengthen their poverty-reduction role.

Acknowledgment
We appreciate Landmark University for providing the platform and funding for this research work. We appreciate your involvement.