Volume 2

Volume 2 (2025)

Published in 2025

Issues in this Volume

Issue 1 (April)

Articles in this Volume

7 articles
1
Research Article

RETIREMENT SAVINGS AND RETIREE'S LIFE ANNUITY: DEFINED BENEFIT SCHEME REINVENTED

Joshua Solomon Adeyele*

Defined benefit (DB) pensions have long served as a crucial tool for addressing old-age security challenges globally. However, in Nigeria, their relevance diminished after June 2004, reflecting a broader trend where these schemes lost favour due to the financial strains of an aging population. In this context, the discussion has shifted toward retiree life annuities, which provide income contingen...

Apr, 2025 pp. 1-16
2
Research Article

VALUATION OF PENSION PLAN OBLIGATIONS THROUGH SPOT AND IMPLICIT CONTRACT APPROACH

Joshua Solomon Adeyele*, Bright Igbinosa Oni

As individuals approach retirement, they face a complex web of factors that can impact their financial security. Our study sheds light on the intricate relationship between life expectancy, years of service, and pension benefits, with a focus on spot contract liability and implicit contract liability analysis. By exploring the intersection of these factors, we reveal how employees can maximize the...

Apr, 2025 pp. 17-32
3
Research Article

INTEGRATING CHRONIC HEALTH RISK FACTORS INTO PENSION LIABILITY AND MORTALITY ANALYSIS

OGWU KINGSLEY JOEL*, Imoseme Marian Izedomi

This study examines how chronic health conditions influence pension liabilities by modeling long-term mortality risks associated with diseases such as cardiovascular disease, diabetes, and respiratory illnesses. Using a hypothetical dataset based on actuarial principles and mortality tables, it simulates the impact of these conditions on mortality rates and pension obligations under different inte...

Apr, 2025 pp. 73-83
4
Research Article

EXPLORING THE INFLUENCE OF SOCIOECONOMIC AND POLICY FACTORS ON INFORMAL WORKERS' ENROLLMENT IN NIGERIA'S HEALTH INSURANCE SCHEME

A.K ONAFALUJO*, O. S BAMGBOSE, H.S OLUFAWO

This study examines factors influencing enrollment in Nigeria's National Health Insurance Act 2022 (NHIA) healthcare program among informal economy workers, who often face poor safety, health conditions, and limited insurance coverage, leading to preventable health issues. A sample of 389 workers from Ikorodu, Lagos, completed structured questionnaires. Using Least Square statistics, results show ...

Apr, 2025 pp. 55-62
5
Research Article

ASSESSING OUT-OF-POCKET HEALTHCARE EXPENDITURE AND UTILIZATION IN NORTHWESTERN NIGERIA

Aminu Ma'aruf Nass*, Adeleke Ismail Adedeji

This study investigates healthcare utilization and out-of-pocket (OOP) expenses across Nigeria's northwestern states. Using primary data from household surveys and secondary data on state healthcare budgets, the study employs the frequency method and generalised logit regression model, it examines socio-economic and demographic determinants affecting healthcare access and expenditure. Results reve...

Apr, 2025 pp. 63-72
6
Research Article

THE RELATIONSHIP BETWEEN CARBON FOOTPRINTS AND ECONOMIC GROWTH IN NIGERIA: AN EMPIRICAL ANALYSIS

Shehu Tijani Umoru*, Isibor Britney Osaigbovo

This study investigated the impact of carbon emissions on Nigeria's economic growth from 1990 to 2022. The research focused on key variables including carbon dioxide (CO2), energy consumption, methane emissions (NH4), and inflation rate. Using the Fully Modified Ordinary Least Squares (FMOLS) method, the analysis revealed that CO2 emissions have a significant positive effect on economic growth, in...

Apr, 2025 pp. 46-54
7
Research Article

ACTUARIAL UTILIZATION OF GM (1,2) MODEL IN SURVIVORSHIP ANALYSIS

Alfred Timzing Chakfa*, Gbenga M. Ogungbenle, F.M Abdulkarim, A.A Muhammad, S.D Bello,, S. Rawal

"This study aims to provide an analytical utilization of the GM (1,2) model in survivorship estimation, with specific objectives as to determining the force of mortality, estimating the number and curve of survivors, and ascertaining the number and curve of deaths. The data used in this research was sourced from the National Center for Health Statistics 2022 (United States) provisional life table....

Apr, 2025 pp. 33-45
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