Dr Benedict Benedict Ozurumba

Lecturer I

Biography

Monetary Policy is a tool that the Central bank uses to influence the supply and availability of money in an economy in an attempt to achieve the overall macroeconomic objectives. Dr Ozurumba’s research is concerned with the evaluation of the effectiveness of monetary policy in stimulating aggregate demand and growth of the real gross domestic product in the ECOWAS region. The primary goal of deficit budgeting is to maintain government expenditures at a level that would be sufficient to ensure the attainment of the broad macroeconomic objectives of fiscal policy. The macroeconomic objectives are usually price stability, real economic growth, full employment and balance of payments equilibrium while the main instruments of fiscal policy are taxation and total expenditure. When total expenditures exceed tax revenues, a budgetary gap or deficit exists and has to be financed.In his recent researches, Dr Ozurumba examined the mode of financing the budget deficit and its implications for growth in monetary aggregates and macroeconomic performance. Private capital flows have had pervasive effects on the Nigerian economy in the recent times. The acceleration of the process of financial sector reform and the liberalization of exchange controls in Nigerians were the most decisive factors. The concerted programmes of liberalization and reform were a decisive factor in stimulating new private capital inflows. The reforms also, however, heightened the macroeconomic impact of private capital movements. By freeing key prices in the economics most importantly the exchange rate and interest rates – the reforms created a set of transmission mechanisms through which changes in cross-border capital flows had important real and monetary effects on the economy. The author x-rays the above implications on growth of the Nigerian economy vis-à-vis other economies of the ECOWAS sub-region.

Academic and Professional Qualification

B.Sc., 1997 Economics, Abia State University , Uturu
M.Sc., 2004 Financial Management Technology , FUTO, Owerri.
M. Sc.,2008 Economics,Imo State University, Owerri
Ph.D., 2008Financial Management Technology, FUTO, Owerri.

Membership of professional bodies

Member, FUTO Senate Committee on Exams 2006 to date
Member, SMAT Seminar and Conference Committee 2011
Member, The Nigerian Economic Society (NES) 2008 to date
Member, International Academy of Business and Behavioural Sciences (IABBS) USA 2009 to date
Member, Microfinance Training Service Providers of Nigeria (MTSPN) 2009 to date
Member, Internet Economists (INOMICS) 2008to date
Faculty Adviser, Association of Management Students (AMTS) 2011

Publications

Ozurumba, B.A (2005): “The External debt Crises Causes and Consequences”, Debt Burden and Development in Africa; Problems and Prospects (Okere T-I. edit) Assumpta Press, Owerri.
Ozurumba, B.A and Chigbu E.E. (2006): “An Assessment of the Impact of External Debt on the Growth of the Nigerian Economy”, Journal of Business and Social Science, Vol 2, Owerri, Department of Marketing, Imo State University Owerri&Avan Publication Owerri.
Ozurumba, B.A (2007); “Corporate Collapse and Bank Failures in Nigeria” A case of Collusive Corruption, International Journal of Development and Management Review Vol 1. No.1, Owerri, Development and Management Study Group.
Ozurumba, B.A and Idi, R.E. (2008); Energy Crisis in Nigeria; A Case Study of the Niger Delta Region. The Nigerian Journal of Energy and Environmental Economics, Awka, Department of Economics, NnamdiAzikiweUnivesityAwka.
Ozurumba, B.A (2008); “Commercial Bank Credit on Agricultural Development in Nigeria; An Evaluation Issues on Development – A Multidisciplinary International Journal on Sustainable Development, South Africa, International Center for Constructive Research(ICCR)
Ozurumba, B.A (2009) “Strategies for Bank Supervision for Effective Bank Management in Nigeria, African Journal of Economics and Financial Research, De-Caritas Center for Studies on Human Development in Africa Port Harcourt.
Ozurumba, B.A (2009); Impact of Public Sector Deficit on Private Sector Investment in Nigeria, De- Caritas Journal of Management and Social Science. De- Caritas Center for Studies of Human Development in Africa, Port Harcourt.
Ozurumba, B.A &Chigbu E.E (2009) Impact of public Sector Deficits on Economic Development of Nigeria, African Journal Professional Research in Human Development, De- Caritas Center of Studies on Human Development in Africa, Port Harcourt.
Ozurumba, B.A &Chigbu E.E (2011) Fiscal Deficits And Inflation In Nigeria: The Causality Approach, Journal of Business and Accounting, USA.

Working Experience

Economics, Banking and Finance