Does the use of outsiders' fund enhance shareholders' wealth? Evidence from Nigeria

This paper is an attempt to extend the analysis of the links between the firm's financial structure and the objectives of the firm in maximizing shareholders' wealth. In theory, the financial goal of the firm should be shareholders' wealth maximization as reflected in the book value and the market value of the firm's share. However it is a challenge to management in our world of complex economic environments to achieve this objective. It is against this background that this paper empirically examined the impact of outsiders fund on the firms' shareholders wealth maximization objective using three value maximization indicators; net profit margin viz dividends per share and current ratio from 2004 to 2008 in the Nigerian economy. The study reveals that outsider fund has a positive though not significant impact on dividend per share and current ratio though it was negative and significant impact on net profit margin. Therefore, the study recommends the use of outsiders fund in the financial mix of firms as to magnify shareholders' wealth but an optimal level of outsiders' contribution should be sought for by management. This will reduce the possibility of trading on the equity of shareholders which may lead to bankruptcy of the firm

Clinical and Laboratory Predictors of Articular Disorders Among HIV‑infected Patients Seen at Teaching Hospital Southeast Nigeria

Background: HIV infection may be associated with different arthropathies that are often underdiagnosed. There is also paucity of reported studies of relationship between clinical and laboratory features of HIV‑infected patients and articular disorders. Aims: To determine the predictors of articular disorders among HIV‑infected patients seen at tertiary hospital Nigeria. Subjects and Methods: Hospital‑based cross‑sectional descriptive study. Subjects were recruited from outpatient clinics of the study centers. Persons aged 16 years and above were recruited via stratified sampling method. Subjects with trauma, degenerative arthritis, malignancy, hepatitis B surface antigen and anti‑hepatitis C virus positivity or previously known to have pulmonary tuberculosis or rheumatological disorders were excluded. Pretest‑improved semi‑structured questionnaire was administered to the recruited 480 subjects comprising 240 HIV positive subjects (HPS) and 240 HIV‑negative subjects (HNS). Blood for relevant laboratory tests and radiographs were done where necessary. Diagnosis of articular disorder was based on American College of Rheumatology and European Spondyloarthropathy Study Group classification guidelines. Statistical Package for Social Sciences version 15 (SPSS Inc., Chicago, IL, USA) was used for data entry, validation, and analysis. Results: Of the 480 participants, both HPS and HNS were made up of 95 males and 145 females. There was statistically significant difference between the frequency of occurrence of articular disorders among the HPS of 37.1% (89/240) and the HIV‑negative controls of 16.2% (39/240) (χ2 = 26.63 P = <0.01). Arthralgia frequency of 29.6% (71/240), HIV‑associated arthritis 4.6%, (11/240) (Reiter’s disease 1.3% (3/240), undifferentiated spondyloarthropathy 1.3%, (3/240) and gout 0.4% (1/240) (were seen among the HPS. Only arthralgia was found among HNS. Erythrocyte sedimentation rate (ESR) and age were the best predictors of arthralgia presence. CD4+ T‑cell count was predictive of HIV‑associated arthritis. Conclusions: Articular disorders are commoner among HIV patients than HNS. ESR and age were the best predictors of Arthralgia presence among HIV‑infected patients. CD4+ T‑cell count was predictive of HIV‑associated arthritis.Keywords: Articular disorders, HIV, Predictors, Southeast Nigeri

The Impact of Financial Deepening on Economic Growth: Evidence from Nigeria

This paper examined the impact of financial deepening on economic growth in Nigeria. Adopting the supply-leading hypothesis using variables such as broad money velocity, money stock diversification, economic volatility, market capitalization and market liquidity as proxies for financial deepening and gross domestic product growth rate for economic growth, we found that broad money velocity and market liquidity promote economic growth in Nigeria while money stock diversification, economic volatility and market capitalization did not within the period studied (1992-2008). Government policy should therefore be geared towards strategically increasing money supply and promoting efficient capital market that will enhance overall economic efficiency, create and expand liquidity, mobilize savings, enhance capital accumulation, transfer resources from traditional sectors to growth inducing sectors (such as manufacturing and industry, agriculture and the services sectors) and also promote competent entrepreneurial response in various sectors of the economy. Keywords: Financial Deepening, Economic Growth, Supply-leading Hypothesi

The availability, cost, and affordability of essential medicines for asthma and COPD in low-income and middle-income countries: a systematic review.

Asthma and chronic obstructive pulmonary disease (COPD) cause a considerable burden of morbidity and mortality in low-income and middle-income countries (LMICs). Access to safe, effective, quality-assured, and affordable essential medicines is variable. We aimed to review the existing literature relating to the availability, cost, and affordability of WHO's essential medicines for asthma and COPD in LMICs. A systematic review of the literature was done by searching seven databases to identify research articles published between Jan 1, 2010, and June 30, 2022. Studies on named essential medicines for asthma and COPD in LMICs were included and review articles were excluded. Two authors (MS and HT) screened and extracted data independently, and assessed bias using Joanna Briggs Institute appraisal tools. The main outcome measures were availability (WHO target of 80%), cost (compared with median price ratio [MPR]), and affordability (number of days of work of the lowest paid government worker). The study was registered with PROSPERO, CRD42021281069. Of 4742 studies identified, 29 met the inclusion criteria providing data from 60 LMICs. All studies had a low risk of bias. Six of 58 countries met the 80% availability target for short-acting beta-agonists (SABAs), three of 48 countries for inhaled corticosteroids (ICSs), and zero of four for inhaled corticosteroid-long-acting beta-agonist (ICS-LABA) combination inhalers. Costs were reported by 12 studies: the range of MPRs was 1·1-351 for SABAs, 2·6-340 for ICSs, and 24 for ICS-LABAs in the single study reporting this. Affordability was calculated in ten studies: SABA inhalers typically cost around 1-4 days' wages, ICSs 2-7 days, and ICS-LABAs at least 6 days. The included studies showed heterogeneity. Essential medicines for treating asthma and COPD were largely unavailable and unaffordable in LMICs. This was particularly true for inhalers containing corticosteroids. WHO and Wellcome Trust

Perspectives from the 2nd International Post-Tuberculosis Symposium: mobilising advocacy and research for improved outcomes

In 2020, it was estimated that there were 155 million survivors of TB alive, all at risk of possible post TB disability. The 2nd International Post-Tuberculosis Symposium (Stellenbosch, South Africa) was held to increase global awareness and empower TB-affected communities to play an active role in driving the agenda. We aimed to update knowledge on post-TB life and illness, identify research priorities, build research collaborations and highlight the need to embed lung health outcomes in clinical TB trials and programmatic TB care services. The symposium was a multidisciplinary meeting that included clinicians, researchers, TB survivors, funders and policy makers. Ten academic working groups set their own goals and covered the following thematic areas: 1) patient engagement and perspectives; 2) epidemiology and modelling; 3) pathogenesis of post-TB sequelae; 4) post-TB lung disease; 5) cardiovascular and pulmonary vascular complications; 6) neuromuscular & skeletal complications; 7) paediatric complications; 8) economic-social and psychological (ESP) consequences; 9) prevention, treatment and management; 10) advocacy, policy and stakeholder engagement. The working groups provided important updates for their respective fields, highlighted research priorities, and made progress towards the standardisation and alignment of post-TB outcomes and definitions

Diffuse alveolar hemorrhage in a young woman with systemic lupus erythematosus: Case report and literature review

Diffuse Alveolar Hemorrhage (DAH) is rarely reported complication of Systemic Lupus Erythematosus (SLE). A young woman diagnosed SLE, with a previously normal plain chest radiograph, developed acute onset cough, dyspnoea and hemoptysis. The repeat urgent chest radiograph revealed alveolar opacities. The triad of acute onset respiratory symptoms on a background of SLE and previously normal chest radiography raised the suspicion of DAH in her. She made satisfactory clinical response to high dose corticosteroid and pulse intravenous cyclophosphamide. We conclude that high index of suspicion is required for recognition of DAH. Prompt diagnosis and management are keys to successful outcome. Key words: Systemic lupus erythematosus, Diffuse alveolar hemorrhage, Rare complicatio

The prevalence of self-reported smoking and validation with urinary cotinine among commercial drivers in major parks in Lagos, Nigeria

The validity of self-reported smoking is questionable because smokers are inclined to deny smoking. We aimed to determine the prevalence of self-reported smoking among intra-city commercial drivers in Lagos, and assess its validity based on urinary cotinine assessment. This study was conducted at three major motor parks in Lagos, Nigeria. Information on smoking status and habits was obtained from 500 consecutive male drivers using a structured questionnaire during a face-to-face interview. Eighty-one self-reported smokers and non-smokers were selected by systematic random sampling for urinary cotinine assessment using cotinine strips. The prevalence of self-reported smoking was compared to the prevalence of smoking based on urinary cotinine and the specificity and positive predictive values of self-reported smoking was determined. Prevalence of self-reported current smoking was 32% and 17.9% of nonsmokers were passive smokers. Among 81 drivers in whom urinary cotinine assessment was performed, the prevalence of smoking based on self-report was 34 (42%) compared to 41 (50.6%) when based on urinary cotinine, (X2=38.56, P<0.001). The rate of misclassification among self-reported non-smokers as smokers was 21.3% and misclassification rate for self-reported smokers as non-smokers was 8.8%. The sensitivity of self-reported smoking in accurately classifying smoking status was 91.2% and the specificity was 78.7%. The prevalence of self-reported cigarette smoking among commercial drivers in Lagos is high and a significant proportion of self-reported non-smokers are passive smokers. Self-reported smoking status obtained during face-to-face interview appears unreliable in obtaining accurate smoking data in our locality

Poverty Alleviation Programme and Poverty Reduction in Anambra State. Evidence from Women Business Ownership

The fight against poverty is one of the key components of the development of any country. If the percentage of poor people is high, there will be slow development. The government policies and program such as YOUWIN, Better Life is aimed at encouraging entrepreneurship and supporting women into business. Despite these efforts, poverty incidence still increases among women in micro business. This study examined government alleviation programs and dimension of poverty among women into micro business in Anambra state, Nigeria. It is a descriptive survey research. Probability and non- probability sampling technique were employed in which the samples were drawn using multi-stage sampling and purposive sampling technique. Questionnaire was used as an instrument for data collection. Data were analyzed using descriptive statistics, chi-square and Multidimensional Poverty Index (MPI). The findings of this study showed that most women participating in micro business are not aware of poverty reduction programs and do not have access to such programs. The study also found out that most of the women still experience hardship, no access to infrastructure, no good health care system and low standard of living which indicates that poverty has not reduced. The study recommended among others that the government should target its reduction policies towards the multidimensional indicators (good infrastructure, good health care system etc.) of poverty in order to eradicate poverty.</jats:p