Mr. Mustapha Rafiu Ayobanji

Lecturer II

Historical Background

Native of Ilorin, Kawara State

Educational History

  • Attended University of Ilorin for both M.Sc. and B.Sc. in Economics


B.Sc. M.Sc.

Research Interest

Financial Economics, International Finance and Econometrics




        1.Akande, A., Jimoh, S. & Mustapha, R. A. (2017). Exchange rate fluctuation and output of industrial sector in Nigeria. International Journal of Entrepreneurship and Management, 2 (2&3) pp 99-106, 

        A publication of the Kwara State University, Malete 

        2.Mustapha, R. A., Bakare-Aremu B. & Mustapha S. (2019). Financial development in    Nigeria: the Role of Remittances. Entrepreneurship Journal of Management Sciences, vol. 6 (1), pp 58-74, A publication of the Faculty of Management Sciences, Al-Hikmah University, Ilorin

        3.BAKARE-AREMU, T. A. MUSTAPHA R. A. and BAKARE-SALISU, BOLAJOKO OLANIKE (2021. Globalisation and African development: The Nigeria experience Journal of Social and Administrative Sciences Studies Vol. 5 (1),Western Delta University, Nigeria



        1.Mustapha, R. A. Akande, A. & Jimoh, S. (2017). Impact of the poverty alleviation programme of the Kwara State government on on the Beneficiary.  International Journal of Economics, Commerce and beneficiaries Management, V (3), pp 247-262. 

        UK International Journal of Economics, Commerce and Management 

        A publication of the Department of Economics, the Islamia University of Bahawalpur, Pakistan.

        2.Abubakar, Y. I. Mustapha, R. A. & Ajiboye,  E. S. (2020).  Impact of Governance on Financial Development in West African Countries. Hasanuddin Economics and Business Review 03:3 (2020) 103–111

        A Faculty of Economics and Business, Hasanuddin University, 


        3.Babalola, A. Onikosi-Alliyu, S.O.  & Mustapha, R.A. (2021). Fiscal Financing and Money Supply in Nigeria: An Empirical Analysis. Pakistan Journal of Economic Studies, (1) 1, 79-93

        1. Mustapha, R. A. Onikosi-Alliyu, S.O. and Babalola, A. (2021), Impact                                                                                                                                                                                                                                                                                                                                                            of Government Health Expenditure on Health Outcomes in the West African Sub-Region. Folia Oeconomica Stetinensia 21(1):48-59