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URBANIZATION A PROBLEM TO FOOD PRODUCTION AND AGRICULTURAL DEVELOPMENT.

URBANIZATION A PROBLEM TO FOOD PRODUCTION AND AGRICULTURAL DEVELOPMENT.

A CASE STUDY OF ENUGU STATE

 

CHAPTER ONE: INTRODUCTION

  • Background of Study
  • Statement of Problem
  • Objective of Study
  • Scope of Study
  • Significant of Study
  • Research Question

 

CHAPTER TWO

  • Literature Review
  • Agriculture Products Distribution Markets
  • The Signs of Agriculture Backwardness
  • Price of Food Crisis in our markets
  • Urbanization And Food Supply Easis

 

CHAPTER TWO

  • Research Methodology

3.1     Research Design

  • Area of Study
  • Population of Study
  • Sample and Sampling Technique
  • Instrument for data Collection
  • Valuation of Research Instrument
  • Sources of data Collection
  • Method of Data Collection
  • Method of data analysis

CHAPTER FOUR

  • Results, Analysis and presentation of data

4.1     Table of facilitators

  • Table (A) Questionnaire number Distributed
  • Table A/ Participants
  • Table (B) Questionnaires distributed and returned from participants.
  • Table (C) Analysis of age brackets of participant group.
  • Table (D) Qualification of Interest Groups
  • Table (E) Responses of respondents Opion on Causes and spread of Urbanization.
  • Table (F) Causes effect to Food production and Agricultural development
  • Table (G) Testing the level of awareness.
  • Table (H) Testing level of Participation.
  • Testing of Hypothesis.

 

 

 

CHAPTER FIVE

  • Introduction

5.1     Discussion of findings

  • Causes effects of urbanization
  • Effects Urbanization to food Production man and his environment
  • The Failure of Agricultural sectors
  • Recommendation and Conclusion.

 

 

 

 

 

 

 

 

 

 

 

ABSTRACT

 

In this research on Urbanization – A problem to Food Production and Agricultural development in Enugu State, effort were made to address issues that are related to the problems, cause, effects, challenges, practice and solutions to the future management as it Concerns man and his environment and his economic system, health security as well as food through agriculture and its related sectors.

However, urbanization has been the problem of the world today especially in Enugu State it has taken its stand through the regional development which was enhanced by Evolution of Industrial Technologies, coupled with migration population movement of the people, which contributed grossly to the problem facing food and Agriculture in the state.

These has been found as the major causes of food scarcity, disease, hunger and other related environmental hazards across the state.

Furthermore, there is need for an legend attention to be given as to arrest its havoc and by may doing.  Create a good system of equitable redistribution of technological method to agricultural sector, and provide funding to all the sectors.  And to check mate the raising harzard which Urbanization Constitutes in our environment today.

CHAPTER ONE

 

INTRODUCTION

  • BACKGROUND OF STUDY:

In this study, we are focusing on two major issues, which are closely related to one aspect of development that has posed a great threat to the other and can easily engulf it.  If adequate attention is not given to arrest and manage each problem as it concerns the other.

In this topic, the problem here rests on urbanization-a PROBLEM TO FOOD PRODUCTION AND AGRICULTURAL DEVELOPMENT IN ENUGU STATE.

In definition, the word Urbanization are derived from the former word urban, which were mainly known as a place where different people with different interest from other parts of the services in Country or state exchange goods and services in Common, with higher concentration of people dwelling in such place for their enormous activities.  The latter Urbanization is based on the larger development of certain environment in our society, for example, State, Local Towns and Villages by higher Concentration of people and infrastructures, such as high network roads, school, markets Churches, hospitals offices, Industries, railways and airports factories communication outfits, as well as dwelling places, which were enhanced by evolution of industrial technologies.

While the other food production and Agricultural Development were based on natural resources.

Surrounding Our environment, for example, rich fertile Soil, Plants crops, animals of all kind and other minerals that system the people in their given environment.

However it has been a problem based on inability to produce enough food materials and to the sustainability of its growth and development in our Society as enough consideration has not been given to our natural and physical resources another agricultural sector.

Today, due to high rate of Urbanization in Enugu State and its environs, most natural and physical elements that promote good health and agricultural – occupational development of the economic well being of the people are easily neglected to Urbanization and its socio-politics-economic pursuits.

In recent past as the activities of trade merchants increased in certain towns, such places were placed to be the seat of authority, so as to maintain law and order and to regulate rules, which will guide the people, especially for collection of taxes in such areas.

Basically, the advent of technology which come to stay completed more people to focus on new ideas of sustaining a living, and people also began to develop by increasing mental knowledge, thereby Greating more easy going jobs.

In any way, this did not go down well especially in Enugu State, because of lack of equal redistribution of technological ideas to different sectors, of the people.

Even through among the institutions of higher learning, in the state, eg. Institute of management and technology (I.M.T) Enugu, University of Science and Technology (ESUT) Enugu, University of Nigeria Nuskka etc.

In these mentioned institutions there are faculties of Agricultural Science and Engineering, where brilliant students of this state are produced every year for agricultural practices, these brilliant students have been neglected and due to lack of motivation and support, some have gone beyond teaching and joined the train of get-rich-quick syndrome, as a result of failure to redistribute equally the dividends of technology to agriculture for growth and production development.

In fact, more reasons than earlier said brought in this problem on food production and agricultural backwardness in the state, to mention but a few, lack of manpower  resources, poor plaint and none recognition of the importance of agriculture by the authority in power.

Even the existing places for food and agricultural produce were exposed to environment disasters and insecurity to timber merchants,  through bush burring and deforestation and uncontrolled  erosion took another stage .Rating does into so man heaters of farm lands. Although in Recent past ,there had been a programmes unrich in every state of the awareness on agriculture of all sector.

For instance, the operation  Feed Nation were introduced and luched on every state of the Federation on September 1979, by the then Head of States  Gen. Olusegen Obasenjo.

The queen revolution also were introduced followed by Operation feed yourselves.  However the activities of this  said programes did not in any way created any impact on food production and Agricultural development in the state because it either ended up on radio broadcast, news papers head lines reports and television broadcast  news, why because it did not touch ground.

Infact, it lacked mobilization, motivation, and direction of any aspect.  There were no infrastructure mapped out in place to mutate these ideas being carried out to reach the  people in their different local  localities.

Most of the existing farms were only regional farms under Enugu State Agricultural development projects.  Created then by Federal government during the last boad on agriculture sector of economy in early 70’s.

These farms were located at Uzouwani Adani (Farm settlement site) Amagunze in Nkanu and Nenwe farm site, respectively.

These farms were located to take care of food production in the eastern part of the country were not adequately equipped to meet the rising demand and supply of food and some agricultural produce.

Migration and political instability has turned these farms into individual efforts on production and subsistensive farming took the role moreover, owing to urbanization and civilization migration of young ones to major cities brought a change into the number one economic foundation of the state and the nation as well.  Going through the state of 14 local government Areas with a teaming population of 2, 124, 974 as at 1991, with a projection number of 2,381, 113 persons as at 2004 population census, a total number in different occupation shows a collective number of 70,567,097 in 5 identified occupations, (U) professional technical and related workers, Administrative and managerial workers.  Clerical and related worker, sales workers transport equipment’s operators and labourers, as well as agricultural, animal husbandry, forestry workers, fishermen, and hunters and other Occupations that cannot be adequately defined Investigation through research shows a  very low rate of peoples participation in Agriculture and its related sectors.

An admiring law rate of about 8, 821,87 number o

 

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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INVENTORY VALUATION, MANAGEMENT ORGANIZATION

INVENTORY VALUATION, MANAGEMENT ORGANIZATION (A CASE STUDY OF EMENITE LIMITED, ENUGU)

 

ABSTRACT

 

The need for holding inventories is inherited in any business organization. The space of the inventory will be proper controlled so that the objectives of carrying or maintaining adequate inventory levels at minimum cost can be realized.

The study therefore, examined the system of stock valuation, controlled and management in Emenite limited. Considering the nature of the study and the company, a lot of data were generated from questionnaire administration and proposal interview conducted on staff of the industry.

Based on the method of data collection, the researcher found out that the system of inventory control is adequate in design and effective in operation as regards the determination of stock levels which could be attributed to the use of scientific method in deterring the quantity and time to order.

The researcher strongly believe that proper and accurate recording of the him cards, the use of scientific method in stock level determination will enhance the inventory control system of the company.

 

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION                                                                     1

  • Background Of The Study 1
  • Statement Of Problems 3
  • Purpose Of The Study           4
  • Scope Of The Study 5
  • Research Questions 6
  • Research Hypothesis 6
  • Significance Of The Study 7
  • Limitations Of The Study 8
  • Definition Of Terms 10

          References                                                                         13

CHAPTER TWO:

LITERATURE REVIEW                                                  14

  • Purchasing Procedure 20
  • Receipt Of Material 22
  • Accounting Treatment 23
  • Stores Routine 25
  • Inventory Control Terminology 26
  • Stock Cost 28
  • Inventory Control Terminology                                        30
  • Types Control System 32
  • Method of Valuing Materials. 43

Reference                                                                           49

CHAPTER THREE

  • Research Design 51
  • Area Of Study 51
  • Population Of Study 51
  • Sample And Sampling Procedure 52
  • Instruments Of Data Collection 52
  • Reliability Of The Instrument 52
  • Validation Of The Instrument 53
  • Method Data Collection 54
  • Method Of Data Analysis                                                 55

          References                                                                         57

CHAPTER FOUR

  • Presentation And Analysis Data 58
  • Testing Of Hypothesis 59
  • Summary Of Result 70
  • First Null Hypothesis Testing 71

Reference                                                                           78

CHAPTER FIVE          

Discussion Of Result / Findings                                                   79

  • Findings 79
  • Conclusions 81
  • Implications Of Research 83
  • Recommendations 84
  • Suggestion For Further Research 85

References                                                                         86

Appendix                                                                           91

Bibliography                                                                      92

 

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

Enter Amount

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

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AN EVALUATION OF PRIVATIZATION PROGRAMME AS AN EFFECTIVE TOOLS FOR ENHANCING PRODUCTIVITY PUBLIC ENTERPRISE IN NIGERIA

(A CASE STUDY OF POWER HOLDING COMPANY NIGERIA PLC)

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MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
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Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

Enter Amount

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

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1.1            Introduction-        –        –        –        –        –        –        –        1

1.2            Historical background of study-       –        –        –        –        –        1

1.3            Statement of problems- –        –        –        –        –        –        9

1.4            Significance of Study-    –        –        –        –        –        –        10

1.5            Objective of study-        –        –        –        –        –        –        10

1.6            Hypothesis-          –        –        –        –        –        –        –        –        12

1.7            Scope and Limitations of the study- –        –        –        –        12

1.8            Definition of terms-       –        –        –        –        –        –        13

 

CHAPTER TWO- Literature review

2.0            Introduction-        –        –        –        –        –        –        –        15

2.1            Theoretical Framework –        –        –        –        –        –        17

2.2            Historical Background of Privatization      –        –        –        34

2.3            Policies of Privatization of Commercialization in Nigeria                 44

2.4            Reasons for Privatization and Commercialization –       –        –        56

2.5            Problems of Privatization and Commercialization in Nigeria 58

2.6            The Gains of Privatization and Commercialization in Nigeria          64

2.7            Conclusion –        –        –        –        –        –        –        –        67

 

CHAPTER THREE – Research Methodology

3.1            Research Design – –        –        –        –        –        –        –        68

3.2            Research Population and sample Size –                –        –        68

3.3            Instrument for Data Collection         –        –        –        –        –        69

3.4            Justification of method Used   –        –        –        –        –        70

3.5            Method of Data Analysis        –        –        –        –        –        71

3.6            Justification for the Instrument Used  –      –        –        –        73

 

CHAPTER FOUR – Presentation and Data Analysis

4.1            Introduction-        –        –        –        –        –        –        –        73

4.2            Data Presentation and Analysis  –     –        –        –        –        73

4.0            Summary of the finding-         –        –        –        –        –        –        82

4.1            Test of hypothesis-        –        –        –        –        –        –        –        56

 

CHAPTER FIVE – Summary, Conclusion and Recommendations

5.1            Summary –  –        –        –        –        –        –        –        –        86

5.2            Conclusion-          –        –        –        –        –        –        –        –        87

5.3            Recommendations–       –        –        –        –        –        –        88

Bibliography-       –        –        –        –        –        –        –        91

Appendix I

Appendix II

 

CHAPTER ONE

INTRODUCTION

1.0            BACKGROUND OF THE STUDY

Privatization of state-owned enterprises (SOEs) has become a key component of the structural reform process and globalization strategy in many economies. Several developing and transition economies have embarked on extensive privatization and commercialization programmes in the last one and a half decades or so, as a means of fostering economic growth, attaining macroeconomic stability, and reducing public sector borrowing requirements arising from corruption, subsidies and subventions to unprofitable SOEs. By the end of 1996, all but five countries in Africa had divested some public enterprises within the framework of macroeconomic reform and liberalization (White and Bhatia, 1998).

 

In line with the trend worldwide, the spate of empirical works on privatization has also increased, albeit with a microeconomic orientation that emphasizes efficiency gains (La Porta and López-de-Silanes, 1997; D’Souza and Megginson, 1999; Boubakri and Cosset, 1998; Dewenter and Malatesta, 2001). Yet despite the upsurge in research, our empirical knowledge of the privatization programme in Africa is limited. Aside from theoretical predictions, not much is known about the process and outcome of privatization exercises in Africa in spite of the impressive level of activism in its implementation.

Current research is yet to provide useful insights into the peculiar circumstances of Africa, such as the presence of embryonic financial markets and weak regulatory institutions and the manner in which they influence the pace and outcome of privatization efforts. Most objective observers agree, however, that the high expectations of the 1980s about the “magical power” of privatization bailing Africa out of its quagmire remain unrealized (Adam et al., 1992; World Bank, 1995; Ariyo and Jerome, 1999; Jerome, 2005).

 

As in most developing countries, Nigeria until recently witnessed the growing involvement of the state in economic activities. The expansion of SOEs into diverse economic activities was viewed as an important strategy for fostering rapid economic growth and development. This view was reinforced by massive foreign exchange earnings from crude oil, which fuelled unbridled Federal Government of Nigeria (FGN) investment in public enterprises. Unfortunately, most of the enterprises were poorly conceived and economically inefficient. They accumulated huge financial losses and absorbed a disproportionate share of domestic credit. By l985, they had become an unsustainable burden on the budget.

 

With the adoption of the structural adjustment programme (SAP) in 1986, privatization of public enterprises came to the forefront as a major component of Nigeria’s economic reform process at the behest of the World Bank and other international organizations

 

 

1.1.1  HISTORICAL BACKGROUND OF POWER HOLDING COMPANY          NIGERIA

A major energy product which has emerged from the development of Nigeria’s energy resources is electricity. Although at independence in 1960 the country inherited a rudimentary electric power generation and distribution system under the Electricity Corporation of Nigeria (ECN) and later changed to NEPA.

 

Nigeria’s Electric Grid is being run on hydroelectric and thermal plants. The former are predominantly utilized in the northern part of Nigeria while the later which are fueled by petroleum appear to be largely favoured in the southern parts. The disadvantages of these approaches become evident in the harmattan seasons when the water level drops and in the chronic spate of fuel scarcity.

 

Nigeria has about 5,900MW of installed electric generating capacity consisting of 3 hydro-based stations and 5 thermal power plants. Nigeria faces a serious energy crisis due to declining electricity generation from the power plants. Power outages are frequent and the power sector operates well below its capacity. NEPA is in charge of a sector which is grossly inefficient.

 

The Nigerian government has set a 10,000MW target capacity for electricity generation by 2007 as a way of increasing power supply which has been epileptic over a long period.

 

When the present administration came on board in May of 1999 one of the first tasks it undertook was to charge the then Minister of Power and Steel to put an end to power outages. The minister wasted no time in making some necessary changes in the composition of NEPA. NEPA was reconstituted and new appointments were made bringing a team of specialists and technocrats to replace most of the politically appointed members of the management board. Yet the country recorded no significant improvement in its power sector. Indeed somewhat that the situation got much worse.

 

A new technical board directly answerable to Mr. President under the chairmanship of senator Liyel Imoke was appointed in 2006 to oversee the administration of NEPA and its eventual privatization. An improvement is still yet to be seen.

 

On July, 1st 2006, NEPA was transformed to PHCN in line with the on-going government power sector reform programme.

 

The Nigeria Electricity Regulatory Commission (NERC) was thereby established under the Electric Power Sector Reforms Act 2005 to provide regulatory oversight in electricity sector. PHCN was set up to have a life span of one year after which successor companies owned by private operations would take over from the firm. But, however, exactly a year after the company was established and the exact date it was scheduled to cease to exist, nothing happened.

 

Part of the efforts to realize this ambition is the on going power plants construction in different parts of the country. Ten power stations are in the pipeline. They include the 414MW Geregu power station in Kogi State, 335MW Omotosho Gas Turbine Power Station in Ondo State, 335MW Papalanto Thermal Station in Ogun State, all these are at various stages of completion. Others include the Mambilla Station in Taraba State, a 250MW in Calabar, a 500MW plant in Eyaea, Edo State, a 270MW in Ikot Abasi, Akwa Ibom State, a 500MW in Sapele, Delta State and a 230MW plant in Omoku, River State. The existing power stations and their installed capacities are Egbin Thermal Statio, Lagos (1320MW) Afam Thermal Station, Delta State (1020MW) Ijoro Thermal Plant, Lagos (40MW), Kainji Hydro Station, Niger State (760MW), Jebba Hydro Station, Niger State (578MW) and Shiroro Hydro, Niger State (600MW). But the actual power capacity currently generating in the country is presumed to be below 4000MW.

The country’s power generating potential is said to be the highest in Africa. This is attributed to her abundant natural resources. With natural gas reserve of about 188 trillion cubic feet, the country has enough associated gas potential to power the biggest thermal station in Africa. While other countries are busy encouraging investment in nuclear power in addition to the sources of energy. Nigeria is still struggling to meet the areas other countries have left behind. South Africa for instance has hit a power generating capacity of 26,000MW and is planning to construct additional 5,000MW by 2010. 4000MW is not enough for the country and the projected target of 10,000MW of electricity in 2007 might be hampered. There is still over dependence on the aged plants and obsolete equipment, and also the incessant vandalization of election cables nationwide

 

POWER HOLDING COMPANY OF NIGERIA PLC DOKA BUSINESS UNIT

ORGANOGRAM OF THE BUSINESS UNIT

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           

SOURCE: PHCN          Brochure, 2008                                                                                                             

 

1.2     STATEMENT OF THE PROBLEM

The first problem recorded with the privatization programme in Nigeria was lack of relevant fundamental economic environment needed before taking off. Some public enterprises that were not ripe enough in terms of competitiveness were privatized. Consideration was not given to capable buyers but to political cronies who could not successfully manage their new enterprises. This led to closure of some of these privatized firms. Lack of transparency in the entire sales has shown up its negative repercaution.

 

 

 

It is reported that privatized firms in Nigeria are refusing monitoring by Bureau of Public Enterprises. In this wise there has been no substantial studies on the operational activities of the privatized firms. The expected difference in the perception of efficiency after privatization could not be proved. In all, it is therefore difficult to identify the performing and non-performing privatized firms.

Among the pertinent issues to be addressed are: What is the extent and pattern of privatization and commercialization? What have been the results of privatization in Nigeria? Has privatization and commercialization improved enterprise performance as anticipated? Finally, what policy lessons are to be learned from the privatization experience so far? These are the issues that come into focus in the study.

 

1.3     OBJECTIVES OF THE STUDY

The objective of the study are

  1.                          i.                  To assess the effort of privatization in Nigeria, by examining the antecedent, pattern, volume and status of privatization undertaken so far.
  2.                        ii.                  Find out the prospects and problems of the implementation of the privatization programme on public enterprises.
  3.                     iii.                  Find out to what extend the programme can be able to get rid of ineffectiveness and inefficiency of public enterprises.
  4.                     iv.                  Find out its possibilities of fostering development on the Nigeria economy.
  5.                        v.                  Find out if will improve the welfare and standard of public workers.

1.4            SIGNIFICANCE OF STUDY

NAIRA EXCHANGE RATE DEPRECIATION AND DOMESTIC INFLATION IN NIGERIA

NAIRA EXCHANGE RATE DEPRECIATION AND DOMESTIC INFLATION IN NIGERIA

Click here to download our android mobile app to your phone  for more materials and others

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COMPLETE MATERIAL  COST  N2,500 Or $10.  FRESH  PROJECT MATERIAL  COST 50,000 NAIRA FOR UNDERGRADUATE, OTHERS 100,000 -200,000 NAIRA.

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

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ABSTRACT

The research work critically examined the extent to which naira exchange rate depreciation had affected domestic inflationary rate in Nigeria between 1985 – 2000. Therefore, in this study, the researcher examined the trend of inflation and exchange and the relationship between the two variables.   A model was specified to show the relationship between both variables.  Also interest rate was included in the model as one of the variables that affect inflation.The model was then estimated using multiple regression method and variable statistical tests where carried out on the regression equation. The result was analyzed accordingly. Moreover, the result of the statistical test shows that exchange rate depreciation of Naira is significant in explaining variation in the rate of inflation.

Finally, the data for the project work was collected from most recent years in order to make finding, adequate in explaining the cause of inflation in recent times.

 

 

TABLE OF CONTENTS

Title page                                                                                          ii

Approval page                                                                                  iii

Dedication                                                                                         iv

Certification                                                                                                v

Acknowledgement                                                                                      vi

Abstract                                                                                            vii

Table of contents                                                                              viii

CHAPTER ONE

Introduction                                                                                                1

1.1            Background to the study                                                                   1

1.2            Statement of problem                                                              3

1.3            Significance of study                                                               5

1.4            Objective of the study                                                             5

1.5            Research hypothesis                                                                6

1.6            Scope of study                                                                        7

1.7            Definition of terms                                                                            7

Reference                                                                                 8

CHAPTER TWO                                     

Literature review                                                                               9

2.1            The concept of exchange rate                                                  9

2.2            Exchange rate management in Nigeria                                     19

2.3            Inflation – a concept                                                                28

2.4            Theories of inflation                                                                32

2.5            Inflation in Nigeria                                                                  37

2.6            Exchange rate depreciation and inflation in Nigeria                          41

2.7            Empirical evidence                                                                  43

Reference                                                                                 46

CHAPTER THREE

Research methodology                                                                      48

3.1            Method of data collection and analysis                                   48

3.2            Theoretical framework and model specification                      48

Reference                                                                                 53

CHAPTER FOUR      

Analysis of result                                                                    54

4.1            Presentation of result                                                              54

4.2            Analysis of result                                                                    55

CHAPTER FIVE

Summary, conclusion and recommendation                                               57

5.1            Summary                                                                                 57

5.2            Conclusion                                                                              58

5.3            Recommendation                                                                     58

 

 

 

CHAPTER ONE

 

INTRODUCTION

1.1            BACKGROUND TO THE STUDY

The naira exchange rate depreciation coupled with persist increase in the inflationary rate has been a major bane on economy of Nigeria.  To a layman inflation is a phenomena to embrace as his income increases daily without knowing the harmful side of such an increase.  Whether there is anything like depreciation or an improvement in the exchange or whether is income is nominal or real the layman do not know.

But this complementary problems so to say of naira exchange rate depreciation and inflation has been a thought of obesity in the hearts of Nigerians past and present governments and many patriotic Nigerians.

The pegging of, inflation in Nigeria can be said to be a direct result of the policies of the country’s governments to stimulate a fast rate of economic growth and development, since 1951 when the ministerial government was introduced between 1984 and 1986, the naira was quoted against dollar and pounds as the only intervening currencies which was in line with the International Monetary Fund (I.M.F) demand.  I.M.F had earlier complained that naira exchange rate was rising above the stipulated 2% limit.  The naira was then devalued at 1.000 4 US dollar.  The inflation rate in Nigeria was not serious problem before her independence.  But immediately after the civil war i.e. from 1970’s, the inflation rate in Nigeria took another dimension.  The value of naira as against dollar and pounds sterling started to deteriorate, in 1970, it was a naira to 1.400 dollar and 0.584 pounds sterling.  In 1971, it was 1.44 dollar and 0.582 pounds sterling to a naira.  In 1973, it was 1.519 dollar and 0.614 pounds sterling to a naira.  In 1974 it was 1.589 and 0.675 pounds sterling to naira which increased to 1.623 dollars and 0.734 pounds sterling in 1975 as a result of Udoji salary award of 1974 increased wage extensively.  Higher wages increased the purchasing power of consumers thus, leading to increase in their prices.

The introduction of Structural Adjustment Programme (SAP), and second-Tier Foreign Exchange (SFEM) in 1986 on one of government’s major policy packages, was aimed at making the over, valued naira exchange rate more realistic and responsive to market forces.  Regrettably, C. Anyanwu (1989) observed, the SAP/SEFEM was a disaster that was fast destroying the foundation of Nigeria economy.  There was consequent persistence of exchange rate depreciation of the naira (from 1.5691 naira to 1.0 dollar at the end of September 1986, 7.8950 naira to 1.0 dollar by mid February 1990).  Also by August 1998, the dollar was sold for 21.9960 naira at the Foreign Exchange Market (FEM) while at parallel market it was sold for 45 naira.  The value of naira continued to depreciate to the extent that the exchange rate was less than one dollar to a naira before 1990.  It was 0.119 US dollar to a naira in 1990.  This depreciated to 115.7 to a dollar by the 12 April, 2001 (CBN) 1994.  By 2003, it has risen N130 to the US dollar.

 

1.2            STATEMENT OF PROBLEM

The depreciation of naira persistently, has various inflationary effects on the economy of Nigeria.  The effects of this macro-economic problem can be highlighted in different stages.  In the first place, when a currency is depreciated, it is designed to reduced or discourage the excessive dependence on a particular foreign or some foreign commodities.

This will make domestic prices of such imports may be intermediate goods and as a result tends to push the cost of production of final goods up.

In another way, deteriorating exchange rate of naira could bring about inflation of increase in wage rate or demand, when the naira is devalued, the price of important raw materials increases domestic firms may be willing to increase production reduction on their competition as a result of like in prices of raw materials.

Consequently, the output of the firms will attract high prices, therefore for consumers to meet their provisions level of consumption or maintain their real income, calls for wages increase which according to Sotersten (1994) will worsen the whole situation.

Nigerians as one of the developing nations that heavily depend on imported inputs, implements and machinery, the cost of these are usually very high due to poor exchange rate of naira.

This will discourage potential investors, how investment will lead to reduced national product, which is an indicator of stagnancy or retrogression of the economy.

For this reason, Obasanjo (1999) noted that any thing could happen of regulatory authorities did not take steps to tidy up the situation, so the researcher wants to find out the problems and suggest ways of remedying the situation.

 

1.3            SIGNIFICANT OF THE STUDY

For the purpose of this study, the researcher took a step further to determine the possible significances.

(i)                To give other researchers who which to write on this topic the process to follow

(ii)             To check the inflationary of deflationary gap

(iii)           To determine the cumulative impact of broad money growth and the sizeable devaluation of the naira

(iv)           To determine the fate of naira with other internal currencies.

(v)             To determine government policies.

1.4            OBJECTIVE OF THE STUDY

The objectives of this study include the following

(i)                To identify the causes of inflation and exchange rate depreciation.

(ii)             Examine the extent to which naira exchange rate depreciation heed affected domestic inflationary rate in Nation.

(iii)           Assess the effectiveness of government earlier introduced policies.

(iv)           Give suggestion and recommendation on appropriate policies for the future.

 

1.5            RESEARCH HYPOTHESIS

Since the research data was mainly from secondary sources, the hypothesis used will be in two forms to determine result.

The null hypothesis and the alternative hypothesis.  The null hypothesis (Ho) will be tested against the alternative hypothesis (Hi)

(a)     Ho:    There is no positive or significant relationship

between exchange rate depreciation and domestic inflation in Nigeria.

(b)     Hi:     There is significant or positive relationship between

exchange rate depreciation and domestic inflation in Nigeria.

1.6            SCOPE AND LIMITATION OF THE STUDY

The study covers the period from 1985 to 2000.  It concentrates on the trend of exchange rate depreciation and inflation in Nigeria.  The study is limited to the period because of the problems associated with the availability and collection of secondary data needed for the research work due partly to the level of development of the Nigeria economy.

BUDGETING: A SYSTEMATIC APPROACH TO PROFIT PLANNING AND CONTROL

(A CASE STUDY OF MOBILE TELECOMMUNICATION NETWORK NIGERIA LIMITED’ (MTN), ENUGU STATE)

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PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

Enter Amount

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

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PROPOSAL

          Budgeting – A systematic approach to profit planning and control is a work that will be centered on the use of budgeting a tool for planning and control in order to maximize profit using mobile Telecommunication Network Nigeria Limited (MTN) Enugu, as a case study.

This research will be carried out through series of oral interviews and distribution of questionnaires in the collection of data and relevant information to the employees of mobile telecommunication Network Nigeria Limited Enugu.  The data that will be collected, will be analyzed as well as interpreted by the research from the testing and proofing of hypothesis.  The researcher will also source information from secondary data which includes text books, magazines, journals etc.

The researcher will be faced with the following constraints:

–                     Insufficient money to distribute as much questionnaires as possible.

–                     Poor response from the employees because they will be afraid of losing their job

–                     Insufficient time

In order for the company to achieve their objectives, the researcher will recommend that there should be budgetary control so that workers will be aware of the objective of the organization and subordinates opinion considered in the preparation of the departmental or company’s budget estimate.  This will help in encouraging goal congruence.

 

ABSTRACT

 

          Budgeting – A systematic approach to profit planning and control is a work centered on the use of budgeting as a tool for planning and control for profit maximization in a mobile telecommunication network Nigeria Limited Enugu as a case study.

The objective of the study is to show the importance of budgeting as a tool for systematic profit planning and control in the mobile telecommunication network Nigeria limited which has profit maximization as its principal objective.

The research is also aimed at identifying the steps adopted in the formulation of annual budget of MTN Nigeria.

Consequent upon this, the following hypothetical question were used for the study.

  1. Managers use budgeting as a systematic approach to profit planning and control in attaining the goals of the business.
  2. Decision making is performed in mobile telecommunication using budgeting
  3. Utilization of resources is achieved with the use of budget and budgetary control

Following the investigation and analysis of data, the following findings were made

  1. The organization uses budgeting in achieving the goals and objectives
  2. The main objective of the organization is profit maximization
  3. Efficiency and effectiveness of the organization is achieved through the use of budgeting.

From the findings, the conclusions were arrived that budgeting is very essential and indispensable tool for profit planning and control.  It helps management to be well structured in sustaining the growth and expansion of the organization.

 

 

 

 

 

 

TABLE OF CONTENT

 

Title page                                                                                i

Approval                                                                                 ii

Dedication                                                                               iii

Acknowledgement                                                                             iv

Abstract                                                                                  v

Table of content                                                                      vi

 

CHAPTER ONE

1.0     Introduction                                                                            1

1.1     Historical Development of the Firm                              4

1.2     Background of mobile Telecommunication                    5

Network Nigeria Limited/Present state of Affairs

1.3     Statement of problem                                                    8

1.4     Objective of the study                                                    8

1.5     Research Question                                                                   9

1.6     Research Hypothesis                                                     10

1.7     Scope and limitation                                                      10

1.8     Significance of the study                                                         11

1.9     Definition of terms                                                                  12

 

CHAPTER TWO

2.0     Literature review                                                            14

2.1     Introduction                                                                            14

2.2     Definition of budget                                                       15

2.3     Types of Budget                                                            17

2.4     The Budget period                                                                   20

2.5     Administration of the Annual Budget                                     21

2.6     Stages in the Budget process                                         24

2.7     Appraisal of fixed, flexible and other budget                          43

2.8     Planning function                                                           45

2.9     Controlling function                                                      46

2.10   Budgeting control                                                          50

2.11   Variance analysis                                                           51

2.12       Additional Tool for Budgeting and Budgetary

control: Zero Base Budgeting (ZBB)                                       57

 

CHAPTER THREE

3.0     Research Design and methodology                                58

3.1     Research design                                                             58

3.2     sampling technique                                                        58

3.3     Sampling design and population size                                      58

3.4     Sources of data                                                              60

3.5     Interview questions                                                        60

3.6     Method of data analysis                                                60

 

CHAPTER FOUR

4.0     Presentation, Analysis and Interpretation of Data                  63

4.1     Analysis of questionnaires returned                              63

4.2     Hypothesis testing and proofing                                             71

 

CHAPTER FIVE

5.0     Summary of findings recommendations and conclusion         77

5.1            Summary of findings                                                     77

5.2            Recommendations                                                                   79

5.3            Conclusion                                                                     80

Bibliography                                                                  81

Appendix                                                                       83

 

 

CHAPTER ONE

 

1.0            INTRODUCTION

The growing complexity of the business environment and the ever increasing competition among firms in the modern time, make planning an invaluable tool for business success.  Successful management is no longer just a matter of flair, skill and determination, a conscious effort is needed to harness available resources towards the achievement of enterprise objectives.  Budgeting is one of the tools adopted by management for effective cost planning and control.

A budget is commonly understood  the forecast by a government, organization nor society of its expenditures and revenues for a specific period of time.  The  period covered  by a budget is usually a year known as financial year.  Budgeting is concerned with the utilization of financial resources to serve human needs.  Although a budget may be characterized by a series of goals with price tags attached.  It is mainly a mechanism for making choices among alternative expenditure.  When such are coordinated so as to achieve desired goals, the budget becomes a plan.  If there are specifications on how the goals are to be achieved, the budget becomes a psychological device to make administrators thin.  If however, the emphasis is placed on achieving the desired objective at the lowest possible cost, then the budget is an instrument for ensuring efficiency.

An enterprise which is effectively and efficiently managed produces good and rewarding result.  Management is efficient if it is able to accomplish the objectives with minimum efforts and costs.

Profit planning and control or budgeting is an integral part of management.  The financial manager has a particular interest in profits planning and control because he helps to regulate flows of funds which is his function.  The decision making process of management starts with planning.  ‘Planning is the design of a desired future and of effective ways of bringing it about.  In other words, planning involves the determination of the future course of action for accomplishing the objectives of the enterprise.  The basic purpose of planning is to provide guidelines for making decisions. It is a forward process to reducing uncertainty about the future.

Planning is a continuous process which would generally involve four fundamental steps.

  1. Establishing the objectives
  2. Determining the goals
  3. Developing strategies
  4. Formulating profits plans or budget.

Objectives are the statements of broad and long term desired state or position of the enterprise in the future. They are directional and motivational in nature and are generally the qualitative expressions of the desired future state.  For instance, the primary objective of an enterprise may be customers satisfaction, employee welfare, long-run- survival which depends upon the maximization of the long-run profit, that is wealth maximization.

Goals represent the operational specifications of the broad objective with time and quantity dimensions.  Goals are the quantified targets to be attained within a specific period e.g. long run profit maximization in order to increase the market value of the firm to shareholders is the broad objective of the firm.  But the goal for the next year may be to earn a 20% after tax profit on investment or a 5% profit on sales.

Strategies specify the ways of achieving the goal operationally.  For example, the strategies of a firm may include the use of retained earnings for expansion, keeping debt at a reasonable level, expanding sales through price reduction and aggressive advertisement.  Financial plans may take many forms, but any good plan must be related to the firm’s existing strength and weakness.  The strengths must understood, if they are to be used for proper advantage and the weakness must be recognized if corrective action is to be taken.

Finally, the formalization of objectives, goals and strategies for operational purposes is called the profit planning or budgeting.  It is called the profit plan or budget because it explicitly state the goals in terms of time expectations and expected financial results for each major segment of the entity.

 

1.1     HISTORICAL DEVELOPMENT OF THE FIRM

It is important at this point to review briefly the history of the company mobile telecommunication Network Nigeria Limited (MTN).  It was incorporated in Nigeria on November 8. 2000 as a private company.  It secured a license to operate digital (Global system for mobile telecommunications GSM) telephony on February 9 2001, from the Nigerian communications commission.  On May, 2001, MTN emerged as the first to make a call on its GSM network in the new dispensation. Thereafter, the company launched full commercial operations beginning with Lagos, Abuja and Port Harcourt in the company now provides coverage to 85 cities and well over 5,000 communities and villages, spanning every geo-political zone and 31 of Nigeria’s 36 states.

It is the first to erect a country wide microwave radio transmission backbone, offering unrivalled value for money evidenced by a loyal customer base attracted by MTN’s convenience, mobility, roaming on 30 international networks and economical Tarrifs.  MTN’s product and services are available at its friendship centres and a nationwide network of dealership, banks and convenience channels including entries, petrol stations and neighourhood stores.

 

1.2            BACKGROUND OF MOBILE ELECOMMUNICATION NETWORK NIGERIA LIMITED/PRESENT STATE OF AFFAIRS

The company through systematic planning and control represents several millions of Nara in investment.  The company as at May 31, 2004, had a total of 21 mobile switching centres and over 940 radio base stations across the country. Several more are in the process of being installed.  On January 20, 2003, MTN commissioned the first phase of its digital microwave transmission backbone, Y’ello Balm.  Constructed  at a cost of $120 million.  Y’elloBalm is Africa’s most extensive transmission infrastructure and has significantly helped to enhance call quality on MTN’s network.  Y’ello Balm spans 3,400 kilometers and traverses over 120 cities, villages and communities; while coverage has been extent to more than 90 major towns and a total of over 5,000 villages and communities across Nigeria.  The second phase of Ye’llo Balm is currently on going and will spand another 4,500 kilometers.

MTN subsists on the core brand values of leadership, integrity, innovation, relationships and a ‘can do’ attitude, a passionate optimistic focus on the future.  It prides itself on its ability to make the impossible possible – connecting people with friends, family and opportunities.  The ownership structure is currently as follows:  Mobile telephone Networks International Limited 76.44%

Nigerian partners                    20.56%

International finance corporation and infrastructure investment arm of the world bank                           3%

100%

TECHNICAL ASSISTANCE/COMEMRCIAL SERVICE AGREEMENT

          The company is technically supported by Nami Tech in south Africa who doe the prepaid voucher and supplier to MTN.

COMPAY’S CONTRIBUTION TO NIGERIA ECONOMY

          MTN currently employs more than 1,200 Nigerians.  In addition, more than 160 Nigerian companies are currently MTN distribution partners.  Of these, more htan 25 are banks, many of which have spun off subsidiary companies, many of the dealerships have branches nationwide and employ dozens of people.  Another 6,000 companies, including petrol statiosn, supermarkets and many others, serves as sub-dealerships.

Yet a great may other Nigerians earn a living as self-employed proprietors, recahrge card or mobile phone accessory vendors, many others operate the hundred of business centres scattred allover our cities.

VISION

–                     To improve telecommunications infrastructures and access throughout the countries in which we operate

–                     Quality service

–                     High profile distribution and accessibility of our services and products

–                     Setting up a good base for future expansion.

–                     Training and transferring skills to local staff.

–                     Becoming a good corporate citizen and becoming a major player in the Nigerian economy.

MISSION

–                     TO BE A CATALYST FOR Nigeira’s economic growth and development, helping to unleash Nigeira’s strong developmental potential not only through the provisionof world class communiations but also through innovative and impactful corporate social responsibility initiaties.

–                     We want the cals you make on our network to   be of the best quanlity in Nigeira

–                     We want our network to cover the broadest areas of Nigeira and athe continuous enhancing of convenience and value derived from using our network.

–                     Every call made shoukd  re-inforce your conviction that MTN is needed.

1.3            STATEMENT OF PROBLEM

THE ROLE OF COMMERCIAL BANKS IN FINANCING SMALL SCALE INDUSTRIES IN NIGERIA

(A CASE STUDY OF UNION BANK OF NIGERIA PLC).

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ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

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PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

Enter Amount

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

CALL OUR  CUSTOMERS CARE  OKEKE CHIDI C ON :  08074466939,08063386834.

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08074466939 or 08063386834, YOUR PROJECT TITLE  YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 1 HOUR ONCE WILL CONFIRM YOUR PAYMENT.

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ABSTRACT 

The topic of dissertation is The Role Of Commercial Banks In Financial Small Scale Industry In Nigeria. A case study of union bank of Nigeria plc. The  major objective of the study is to ascertain the extent to which union bank of Nigeria plc has helped to financial small scale industries.Instrument of data collection is questionnaires and research questions which formed the source of primary data, while materials from various published articles, textbooks, journals and newspaper formed the secondary data.

The method of analysis is the use of  tables, percentages and chi-square .

The major finding of the research is that union bank of Nigeria plc has helped to financial small scale industries period under review.

The recommendation based on the finding is that in order to reduce the risk in small scale industry lending, the central bank of Nigeria and the government can do more than they are doing currently scheme.

The study concluded that if the desired objective of using small scale industries as catalysts of development is to be achieved than the role of commercial banks should be mutually supportive.

TABLE OF CONTENTS

 

CHAPTER ONE

INTRODUTION ANALYSIS

1.1     Background to the problem

1.2     Problem statement

1.3     Objectives of the study

1.4     Research questions

1.5     Research hypothesis

1.6     Scope of study

1.7     Limitations of the study

1.8     Definition of study

Reference

 

CHAPTER TWO

LITERATURE REVIEW

2.1     Introduction

2.2     Meaning of small scale industry

2.3     Government policy

2.4     Support systems

2.5     Financing

2.6     Monetary policy development in favour of small scale industries

2.7     Benefits of small scale industry

2.8     Problems facing small scale industry

2.9.1  Financing the project

2.9.2  Technical knows how

2.9.3  Personnel, matters and general administration

2.10   Improving funding small scale industries

References

CHAPTER THREE:   

RESEARCH METHODOLGY

3.0     Introduction of the study

3.1     Research design

3.2     Area of study

3.3     Population of study

3.4     Sample size determination

3.5     Instrument for data collection

3.6     Validation of the instrument

3.7     Reliability of the instrument

3.8     Method of data collection

3.9     Data analytical techniques

 

CHAPTER FOUR:     

PRESENTATION AND ANALYSIS OF DATA

4.1     Presentation of data

4.2     Hypothesis testing

 

CHAPTER FIVE FINDINS:

CONCLUSIONS AND RECOMMENDATIONS

5.1     Findings

5.2     Conclusion

5.3     Recommendation

Bibliography

Appendices

 

 

CHAPTER ONE

 

INTRODUCTION

1.1     BACKGROUND TO PROBLEM

The successive development plans of Nigeria have laid emphasis on the attainment of self reliance.  The need for this national objective is because much is expected from individuals from the view point of providing employment opportunities self reliance in basic food and material production high per capital income, foreign exchange earnings and the production of industrial raw materials.

Okporobie (1989:10) observes that Nigeria small scale industries continued to decline despite the so called priority given to the sector

However, the discovery by the central bank  that this policy was not enough by it self led to the central bank request with effect from 1970/80 that all commercial bank must reserve a proportion of the minimum credit allocation to indigenous borrowers for small scale Nigeria enterprises.  The target prescribed in 1979 was ten percent (10%) which subsequently raised to sixteen percent (16%).

Even though available data showed that performance of commercial banks against this directive has been disappointing. The central bank intends to  spare no effort in ensuring that banks fully couple without compromising the smooth functioning of the nation banning system.

He observed also, that without the development of small scale industries in Nigeria, the nations quest for industrialization will certainly remain forever at stake. It is the opinion of the researcher that future development in our industrialization must address the basic issues of creating linkages without the economy to begin to produce real inputs to our manufacturing activities .

Priority attention must therefore be given to these industries for which domestic inputs could easily be produced.  This will bring about  agro-allied industries like food processing and other by-products.

The objective should be to maximize the value added in their processing and manufacturing as final goods immediately inputs.

Nzewi and Oze (1985:56) observed that empirical evidence indicates that strong producer incentives to small scale industrialists are necessary not also only to meet the food requirement but also to  provide growing input supplies and demand as a foundation for sustained industrial growth.

The present economic constraint may well turn out to be a blessing in disguise to our industrialization effect particularly for dynamic manufacturing sector.  For instance, the market determinate exchange rate through seeing with its result and high cost of imported inputs may serve as an impetus for industrialist to intensify their search for local substitutes.

Ekenyong and Nyong (1992) observed that small scale enterprises are regarded an organic part of a viable structure for the attainment meaningful economy development in developing economic like Nigeria.

They are significantly more cost effective in bringing about development than large enterprises because of the perceived linkage and multiplier effects which small scale enterprises have on the performance of the economy and economic growth in general.

 

Osayameh (1989) observes that the strength that make small scale enterprises more amendable for assistance areas as follows.

1.       Personal commitment of the proprietor whose life savings usually form the start up capital.

2.      Low initial capital out lay requirement

3.       Ease of entry and exit and prevalence of just minimal legal constraints

4.       Amenability to business advisory services because of their small size which makes than more responsive to improvement suggestions.

Olashore (1987) Observes that the four main sources of enterprises financing open to small scale industry in Nigeria are.

i.        Formal financial institutions such as commercial banks merchant banks, insurance companies and the development bank.

ii.       Informal financial landlords, credit and savings associations “esus” friends and relations personal savings and .

iii.      Other financial scheme, NERFUND NEXIM

in 2001, there was an introduction of small and medium industries equity investment scheme (SMIEIS) in which N359 million was set aside to date by banks under small medium industries equity investment scheme.

Through union bank small and medium scale enterprises (SMES) department, the bank has remain ed in fore front of SMES financing nations was extended to the SMES as at 31st March 2004.

Small scale industry is any industry not exceeding N750,000 including working capital  but excluding cost of land.

It is also defined by center for industrial research and development of Obafemi  Awolowo university Ile Ife as  those industries whose total assets in plant, equipment and working capital do not exceed N250,000 with not more than 50 employees.

 

1.2     STATEMENT OF THE PROBLEM

The problem of credit to small scale industries may not necessarily be as a result of financing insufficiency but rather for some other reasons among which are.

i.        Insufficient preparation on the part of small scale entrepreneurs in their request for credit assistance.

ii.       Information gaps as to range of funding institutions and scope of services available in these institution

iii.      Moreover, servicing of small business accounts is relatively experience, risky and difficult to monitor with low turn over of account.

However, the parishioners in the sector small scale industry do not display competence in preparing justification for their project.  It is are to see most of them coming up with cash flow projections, projected balance sheets, among others.  They are based on personal rudimentary in formation and speculation.  At times when they seek the advice of consultants, the outcome that are made figures project based on assumptions which are most of their time unrealistic.

As a result such proposals are out rightly rejected by banks.

There are suitable when credit demands in this sector are not in compliance in this government monetary policy and credit guidelines which must be adhered to by banks.

The researcher identifies these problem and considers it necessary to carry our study on them.

 

1.3     OBJECTIVES OF THE STUDY

The objectives of the study include:

a.       To ascertain the extent to which the union bank of Nigeria plc has helped to finance small scale industries.

b.       To identify the problems encountered by small scale industrialists in obtaining finance from union bank of Nigeria plc.

c.       To evaluate various measures introduced to boost industrial production and its financing and how this has affected realization of the set goals.

d.       To determine the causing changes in small scale industrial financing by union bank of Nigeria plc.

e.       To make suggestion and recommendations based on the data generated by the study.

 

1.4     RESEARCH QUESTIONS

The critical appraisal to give answers to the following questions.

a.       To what extent has  union bank of Nigeria plc helped to finance small scale industries?

b.       What are the problems encountered by the small scale industrialists in obtaining finance from union bank if Nigeria plc?

c.       What are the various measures introduced to boost industrial production and its  financing and how this has affected the realization of the set goals?

d.       What are the causes of changes in small scale industrial financing by union bank of Nigeria plc?

e.       Does any linear relationship exist between lending to small scale industries and economic recovery and self reliance on the economy?

1.5     RESEARCH HYPOTHESIS

a.       There is no linear relationship between lending to small scale industries and economic recovery and self-reliance of the economy.

b.       there is no relationship between union bank of Nigeria plc lending to small scale industries and the attitude of this customers

1.6     SCOPE OF STUDY

The scope of the study is the role of commercial banks in financing small scale industries in Nigeria. A case study of union bank of Nigeria plc.  It does not cover the role of commercial banks in financing medium and large scale industries.