SOYE, Yinka Augustine and MALIKI, TAIYE O. (2021) Macroeconomic environment and its implication on the penetration of insurance business in Nigeria. Research Journal of Management Sciences. ISSN 2319–1171
![[img]](http://eprints.federalpolyilaro.edu.ng/style/images/fileicons/text.png) |
Text
SOYE & MALIKI JOURNAL.pdf Download (515kB) |
Abstract
The Nigeria complex environment coupled with terms of business penetration and market share both nationally and across the border. This study carried out to investigate the how macroeconomic environment has affected the susta adopted expo-facto research design, using correlation analysis to established the present relationship, whiles ordinary least square (OLS) regression model was employed to predict the future re of insurance business proxies by Insurance Gross Premium (LIGP) (LUMP), interest rate (LINT), Bank Money Supply Secondary data were sourced from the Statistical Bulletin of Central Bank of Nigeria (CBN) and the Digest report of Nigeria Insurers Association (NIA), from 1988 (LINF) for the periods of this study has a positive relationship with insurance business penetration (LIGP) in Nigeria, but not significant. Also, bank money supply (LBMS) has affected insurance business pe and significantly; and furthermore, the population growth rate (PGRT) has a positive and significant effect on Nigeria insurance business (LIGP) penetration. However, business penetration (LIGP) in Nigeria effect on insurance penetration (LIGP), nonetheless, significant within the time of this research. The study recomme there should be compulsory of some insurance policies in the economy, such as health insurance should be compulsory for all citizens. Also, the government on its part should enact and enforce enabling laws the will create enabling atmosphere for the insurance companies in Nigeria to boom, because this is one of the ways the state can make deeper inclusion in the industry to boost the economy.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Unnamed user with email [email protected] |
| Date Deposited: | 04 Mar 2023 19:51 |
| Last Modified: | 03 Apr 2023 12:05 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/2086 |
Actions (login required)
 |
View Item |
