This study examined the impact of Government bond on economic growth in Nigeria for the period between 1999 and 2024. An ex-post-facto research design was adopted and the study was based on the theoretical framework of the Keynesian theory of public finance. Time series data on values of amount of government bonds issued (GBA), Number of government bond issues (GBN), average government bonds issued maturity period (GBM) and average government bonds yield (GBY) as independent variables and Gross Domestic Product Growth Rate (GDPr) as dependent variable were collected from publications of CBN, NBS and World Banks. The data collected were subjected to both pre-estimation and post estimation tests for variables trend characteristics, descriptive statistics, unit root, co-integration, causality, serial correlation and normality. Secondly, a VECM technique of estimation was employed to determine the variable coefficients and T-statistic test of hypotheses was employed to determine their significance. Generally, the study found a significant relationship between the government bond variables and Nigeria’s economic growth. On the individual variables findings, while amount of government bonds issued (GBA), Number of government bond issues (GBN) and Average bonds issued maturity period (GBM) have positive and significant impact, average government bonds yield (GBY) has negative but insignificant impact on economic growth during the period under review in Nigeria. While a unit change is GBA, GBN and GBM increases GDPr by 1%, 4.32% and 39.05% respectively, a unit increase in GBY decreases GDPr by 22.57%. The study recommended in addition to others that the Nigerian government should diversify and deepen its bond market by introducing various bond types and extending maturity profiles. This can attract a broader investor base, reduce borrowing costs, and ensure that the government can finance infrastructure projects more effectively over the long term, ultimately fostering more stable economic growth.

The study investigated the impacted of external debt and capital formation on economic growth in Nigeria (1980-2025). The Autoregressive Distributed Lag (ARDL) modelling approach was used because ARDL is an appropriate modelling approach for variables that are integrated of mixed orders, I(0) and I(1). The Augmented Dickey-Fuller (ADF) unit root test and the ARDL Bounds test for cointegration were performed as preliminary analyses. The ARDL Bounds test confirms the existence of a long run relationship between the variables since the value of F-statistic (8.543949) is above both the lower and upper bounds at all the levels of significance (1%, 2.5%, 5% and 10%). The short-run error correction model suggested that the error correction term is negative and statistically significant (-0.318810, p < 0.01) which means that about 31.9% of short-run disequilibrium is corrected toward LR equilibrium per year. The results also indicated that the external debt had a negative effect on economic growth while the capital formation had a positive effect on the long-run economic growth. While inflation had both positive and negative short-run effects, the short-run effects of exchange rate and government expenditure were not statistically significant. The post-estimation diagnostic tests showed the absence of any serial correlation, heteroscedasticity and normal distribution of the residuals, thus the estimated ARDL model was robust and reliable. The study comes to the conclusion that while external borrowing is still a vital source of development financing, its impact is limited if it is not being used in a productive way or the debt management is unsustainable, whereas the quest to build more capital is still a key ingredient to a sustained economic growth in Nigeria. The study suggests that the government should implement prudent debt management of its external debt by investing the borrowed money in productive sectors with high return to the economy and improving its debt sustainability assessment.

Livestock production is central to the livelihoods and economies of pastoral and agro-pastoral communities in Kenya’s drylands, yet its commercial potential is constrained by fragmented production and marketing systems, weak institutional coordination, inadequate infrastructure, information asymmetries, insecurity, climatic shocks and unequal bargaining power. This study examined the evolution, institutional arrangements and business models underpinning livestock-market organization in Kenya’s drylands and developed a framework for sustainable market coordination. A qualitative-dominant multiple-case study design was employed, focusing on four models: the Organized Livestock Marketing Model, Livestock Marketing Associations (LMAs) and Co-management Model, Meat and Livestock Assembly Model, and Livestock Market-Yard Management Model. Turkana County constituted the principal empirical case, supplemented by evidence from Marsabit, Isiolo, Samburu, Baringo and Tana River. Data were collected through 45 semi-structured key-informant interviews, 10 focus group discussions, documentary review and direct market observation, and analyzed using thematic, historical, within-case and cross-case approaches. Findings show that the four models represent complementary dimensions of livestock-market development. The Organized Livestock Marketing Model provides market architecture by coordinating actors, information, livestock flows and market linkages. The LMA and Co-management Model strengthens collective action, representation and shared governance, although uneven implementation limits its effectiveness. The Meat and Livestock Assembly Model enhances aggregation, specialization, downstream linkages and value addition, while the Market-Yard Management Model institutionalizes infrastructure management, regulation, service delivery and commercial operations. The study concludes that sustainable livestock commercialization requires integration of these functions rather than isolated interventions. It proposes a Sustainable Livestock-Market Coordination Framework linking production, aggregation, market linkages, value addition and governance to improve connectivity, efficiency, competitiveness, commercial viability, resilience and institutional sustainability in Kenya’s drylands.

Livestock production and trade constitute an important component of livelihoods and local economic activity in Kenya's arid and semi-arid lands. In Turkana West Sub-County, which hosts refugees from approximately 24 countries, livestock markets operate within a complex and dynamic system shaped by pastoral production, cross-border mobility, refugee settlement, urbanisation, local consumption, and linkages to external markets. This article examines the organisation and performance of livestock markets in Turkana West, with particular attention to the influence of the growing refugee population and external livestock trade on livestock and livestock-product consumption. The study used qualitative and participatory approaches involving livestock producers, traders, livestock marketing associations, slaughterhouse representatives and other market actors. Remote open-ended interviews, focus group discussions, participatory rural appraisal, market observations and analysis of market records were used across key livestock markets, including Lokore, Kakuma, Letea, Kalobeyei, Lokichoggio and Nanam. Market records were used to examine livestock stocks, sales, slaughter and revenues. The findings show that livestock markets in Turkana West have evolved from predominantly informal and traditional trading arrangements towards a more structured network of primary and secondary markets. Kakuma functions as the principal secondary market and receives livestock from more than ten primary markets. The presence of refugees has expanded local demand, particularly through butcheries and livestock-product businesses, while host-community traders remain strongly involved in the supply of live animals. At the same time, substantial market inefficiencies remain. These include high levels of unsold livestock, inactive traders' working capital, weak market coordination, inadequate slaughter infrastructure, limited utilisation of livestock by-products, weak market information systems, inadequate access to finance and insurance, and constraints associated with disease, drought, insecurity and cross-border movement. The evidence suggests that market resilience depends not only on increasing livestock production but also on improving coordination between production catchments, primary markets, secondary markets, traders, consumers and external markets. Strengthening producer and trader organisations, improving market infrastructure, developing reliable market information, expanding value addition, facilitating formalised trade and strengthening host-community and refugee participation could improve the efficiency and sustainability of livestock markets in Turkana West.