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CAUSES OF FAILURE OF SMALL-SCALE INDUSTRIES IN NIGERIA

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CHAPTER ONE INTRODUCTION

1.1 Background of the Study

In Nigeria various criteria are use for its definition. The small-scale industries in 1973 defines, such enterprise as those having investment capital, (ie land, building, machinery, equipment and working capital of up to N 60,000 and employing not more than 50 persons). But according to the federal ministry of commerce and industry to the Nigeria bank for commerce and industry (NBCI) in 1981/82 (for the purpose of the revolving loan scheme for industries. Such enterprise where regarded as those costing not more than N 500,000) including the cost of land but excluding working capital. At a recent workshop on industries hold at the administrative sta college of Nigeria (ASCON) Badagry, participants agreed that a small-scale industry should be defined as an enterprise whose cost does not exceed N 750,000 (total cost excluding land). ASCON wants this definition to remain in force until 1990. Therefore, in 1972 the Nigeria enterprise promotions decree other wise known as industrialization decree was promulgated. The decree was aimed at aording Nigerians greater participation in economic activities especially in industrial sector of the economy, this sector in this organization-industries in Nigeria are principally concentrates in some part of the country like we have in Enugu and places in Nigeria including some local government areas that have a number of units engaged in transitional industries and it is estimated that over 5000 small-scale units are accounted to exist in this state according to the official published in 1987 by the Anambra State Ministry of Finance and Economic Development (statistics division) Enugu. Industries although have received very little government assistance, occupies a significant position in the nation asset which has the greatest alteration for and is indeed the prime mover in any manufacturing industry, is the existence of a large market.

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CAUSES OF FAILURE OF SMALL-SCALE INDUSTRIES IN NIGERIA
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  27. 585183 367509Great artical, I unfortunately had some issues printing this artcle out, The print formating looks a bit screwed more than, something you may want to appear into. 648548

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