THE STRATEGIES FOR ENHANCING BUSINESS SURVIVAL (A Case Study Of Selected Small Scale Enterprises In Uyo)

CHAPTER ONE

INTRODUCTION

1.1     Background of the Study

Business is an institution organized and operated to provide goods and services under incentive of private gain. the fundamental purpose of any business in the society is to provide goods and services for consumption and the process make profit. business is any human activities that is involved in the production and distribution of goods and services through a socially organized system of exchange. business comprises a wide variety of activities aimed at satisfying the needs and desire of people. It is the sum of total of human activities involved in a production and distribution of goods and services for the purpose of satisfying human wants. Business also refers to the whole field of industry, trade and finance and comprises activities such as agriculture, mining, quarrying, manufacturing, processing and retail distribution and services of all kind (Etuk 1995).

Business survival is the continued existence of a business despite prevailing unfavorable environment. A business cannot survive for a long time if it does not make use of strategies that will enable it maximize sufficient profit. Profit can be used to meet the home for business man. It could also be used to pay salaries of employees, buying raw materials etc.

Upon this background therefore, this research work seeks to examine the strategies that can enhance the survival of small scale business enterprises.

1.2     Statement of the Problem

The contributions of small scale business to the growth of any economy cannot be over emphasized. A cursory survey of small scale business enterprises in Nigeria reveal the incessant case of collapse of such business enterprises within few years of their existence. the ugly situation is traceable to the use of ineffective business strategies by owners or operators of these enterprise. The continued collapse of small scale business enterprises will Leighton the level of unemployment and poverty in the country which will sub squally impact negative on the nation’s gross domestic product (GOP). These issues raised the concern of the researcher in examining the strategies for enhancing business survival in Nigeria.
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THE STRATEGIES FOR ENHANCING BUSINESS SURVIVAL (A Case Study Of Selected Small Scale Enterprises In Uyo)

THE ROLE OF CAPITAL MARKET IN DEVELOPMENT OF NIGERIA ECONOMY

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The capital market is a highly specialized and organized financial market and indeed essential agent of economic development because of its ability to facilitate and mobilize saving and investment. To a great extent, the positive relationship between capital accumulation real economic developments has long affirmed in economic theories (Anyanwu, 1993).

Success in capital accumulation and mobilization for development varies among nations, but it is largely dependent on domestic savings and inflows of foreign capital. Therefore, to arrest the menace of the current economic downturn, effort must be geared towards effective resources mobilization. It is in realization of this that consideration is given to measure for the development of capital market as an institution for the mobilization of finance from the surplus sectors to the deficit sectors. The development of capital market in Nigeria, as in other developing countries has been induced by the government. Though prior to the establishment of stock market in Nigeria, there existed some less formal market arrangements for the operation of capital market. It was not prominent until the visit of Mr. J. B. Lobynesion in 1959, on the invitation of the Federal government, to advice on the role the Central Bank could play in the development of local money and capital market. As a follow-up to this, the government commissioned and a set up the Barback Committee to study and make recommendations on the ways and means of establishing a stock market in Nigeria as a formal capital market.

Acting on the recommendation of the committee, the Lagos Stock Exchange (as it was called then) was set-up in March 1960, and in September 1961, it was incorporated under Section 2 cap 37, through the collaborative effort of Central Bank of Nigeria, the Business Community and Industrial Development Bank (Alile&Anao, 1990). With the establishment of the Central Bank of Nigeria in 1959 and the coming into existence of the Lagos Stock Exchange in 1961 and Subsequently, the Nigeria Stock Exchange by an Act in 1979, a sound foundation was laid for the operation of the Nigerian Capital Market for trading in securities of long term nature needed for the financing of the industrial sector and the economy at large. After the incorporation of the Lagos Stock Exchange, it was granted further protection under the law and its activities was placed under some sort of control by the government, hence the passing of the Lagos Stock Exchange Act.
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THE ROLE OF CAPITAL MARKET IN DEVELOPMENT OF NIGERIA ECONOMY

TESTING THE APPLICABILITY OF WAGNERS LAW IN NIGERIAS ECONOMY (1981-2013)

CHAPTER ONE

INTRODUCTION

1.1   Backgrounds To The Study

Adolph Wagner (1835-1917) was a German economist, politician, and public finance scholar. He put forward his law of increasing public expenditures in 1893 known as wagner’s hypothesis (WH) or Wagner’s law (WL). Adolph Wagner was perhaps the first to offer a direct economic account of the increasing public expenditures. Musgrave and Musgrave (1988) noted that he anticipated the trends to be realized fifty to hundred years later that development of modern industrial society would give rise to increase political pressure for social progress and a continuous increase in public sector.

Wagner’s law was derived from the historical experiences of the early stages of industrialization in Europe and Germany in particular. Wagner identified three main factors for increased government spending. First, administrative and protective role of government will increase as a country’s economy develops. Secondly, with the expansion of economy, government expenditures on “culture and welfare” would rise, particularly on education and health. Finally the technological progress of the industrialized nations requires government to undertake certain economic services for which private sector is shy (khan, 1990).

Wagner’s law since its emergence has been the subject of intensive and extensive investigations. In particular, after the Second World War (1939-1945), when public consumption declined in favour of the private activities development. In other words, Wagner’s law states that government expenditure grows because there is an increasing demand for public goods and for the control of externalities caused by growth and development of the economy. In effect, the law also suggests that causality runs from national income to public expenditure, indicating that public expenditure is considered endogenous to the growth of national income.

In contrast, Keynesian hypothesis emphasizes that economic growth occurs as a result of rising public expenditure and is considered as an independent exogenous variable to influence the economic growth. The direction of causality runs from public expenditure to national income (Keynes, 1963). Therefore, the Keynesian and the Wagnerian approaches represent two alternative points of views towards the causality between government expenditure and aggregate income.

Thus the growth of public expenditure as a proportion of Gross National product (GNP) has received considerable attention from economists around the world, Nigeria inclusively.
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TESTING THE APPLICABILITY OF WAGNERS LAW IN NIGERIAS ECONOMY (1981-2013)

IMPACT OF THE INDUSTRIALIZATION ON ECONOMIC GROWTH IN NIGERIA.

CHAPTER ONE

INTRODUCTION

  1. Background to the study

Economic growth and development remain keygoals desired by underdeveloped and developing nations. It is the process of transformations in national attitudes, structure and system of production and the distribution of output that leads to improvement in standard of living. According to Wilson (2002), industrialization dates back to the 18th and 19th centuries when the industrial revolution took place. This period was marked by the invention of machines and the setting up of factories and other industrial changes of that period.

 Industrialization is the bed rock of economic development to the extent that the process of economic development usually begin with industrialization and impossible without it. The pursuit of industrialization by developing economies is hinged on the theoretical and empirical evidences that development nations themselves are highly industrialized.

Industrialization and economic growth are tied together as it provides a large scope for technological progress, on-the-job training and increases in productivity that give rise to wage increases. In addition, it leads to greater backward and forward linkages, more stable and easily controllable production process than agricultural and the most favorablecondition for growth occurs when a proper balance is achieved between industry and agriculture. Industrialization is the process of transforming raw material into consumer goods, producer goods, and services with the help of capital and as well as human resources (Amechi and Azubuike 2004). Today, nations are partitioned intotwo distinct categories as industrialized and unindustrialized. Developed nation are usually the industrialized nations with very high output figures. Industrialization has a trickle down effect on every other activity sector of the economy and the aggregate economy.
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IMPACT OF THE INDUSTRIALIZATION ON ECONOMIC GROWTH IN NIGERIA.

THE IMPACT OF GOVERNMENT EXPENDITURE ON NIGERIA’S ECONOMIC GROWTH BETWEEN THE PERIOD 1981-2013.

CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

The most critical function of government expenditure is to maintain reasonable degree of price level stability and an appropriate stable economic growth that will enhance the economy to achieve full development potential and stabilization (Musgrave, 1989). Economic stabilization is achieved when government spending, through its fiscal role succeeds in maintaining high employment, reasonable degree of price level stability and appropriate  rate of economic growth, with allowances for positive effects on trade, balance of payment, savings, investment and productivity (Noko, 2013). As long as the markets are imperfect, macroeconomic financial variables changes necessitate movement in government fiscal operations as well as fluctuation in price level and growth rate. It is the role of government expenditure (spending) to continue to restore this price stability and growth rate fluctuation through the budgetary mechanism. The economy will feel the effect of the government spending more positively when the economic growth rate is on the increase and the price level is relatively stable (Noko, 2013).

Thus, government spending is an aspect of public finance that deals with how government spends the money generated in meeting the needs of the public at large (Noko, 2013). Some scholars have argued that increase in government spending can be an effective tool to stimulate aggregate demand for a stagnant economy and to bring about crowed-in effects on private sector. According to Keynesian view, government could reverse economic downturns by borrowing money from the private sector and then returning the money to the private sector through various spending programs. High levels of government consumption are likely to increase employment, profitability and investment via multiplier effects on aggregate demand (Abdullahi, 2010).

For instance, Lipsey and Crystal (2007), advocate that government spending through its fiscal operations has important effects on the level of Gross Domestic Product in both the short run and long run. It has also been hypothesized that when government spends too much or very little money relative to the availability of goods and services in the economy, there would be corresponding pressures (increase or decrease) on prices, which may give rise to inflation, deflation or stagnation.
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THE IMPACT OF GOVERNMENT EXPENDITURE ON NIGERIA’S ECONOMIC GROWTH BETWEEN THE PERIOD 1981-2013.

THE IMPACT OF EXTERNAL TRADE ON ECONOMIC GROWTH IN NIGERIA USING SECONDARY DATA ON GROSS DOMESTIC PRODUCT (GDP) EXPORT (EXP)

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

Trade is generally accepted as a major engine of economic growth of countries. This has been the experience of Nigeria since 1960s even though the composition of trade has changed over years. Economists have been long concerned with what causes different countries to grow at different rates and achieve different level of economic growth and development. One of such factors is external trade in the work of Edwards (1992) external trade is referred to as buying and selling of goods and services between nationals of different countries, or trade agencies of the government of different counties. 

According to Adewuyi (2000) external trade is the exchange of capital goods and services between countries. External trade allows a country or nation to expand her markets for both goods and services that may otherwise not have been available to her citizens.

External trade consists of export and import trade. Export trade involves sale of goods and services to other countries while import trade consists of purchases from other countries. When goods are traded by ways of imports and exports, the transactions are regarded as visible trade. External trade in service is referred to as invisible trade. Thus, for example, if Nigerian exporters avail of British shipping services for transportation of goods, they have to pay for transport services. Hence, services used may be called invisible import by Nigeria sale of services would also regarded as invisible exports. Likewise other services such as banking, warehousing, insurance and railway services are also required in external trade.

Nigeria is basically an open economy with international transactions constituting a significant proportion to her aggregate outputs. To large extent, Nigeria’s economic development depends significantly on the prospects of her export and import trade with other countries. Trade provides both foreign exchange earnings and market stimulus for accelerated economic growth of countries. 
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THE IMPACT OF EXTERNAL TRADE ON ECONOMIC GROWTH IN NIGERIA USING SECONDARY DATA ON GROSS DOMESTIC PRODUCT (GDP) EXPORT (EXP)

THE IMPACT OF EXPORT EARNINGS IN THE ECONOMIC GROWTH OF NIGERIA.

CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

The study of economic growth cannot be properly Discussed without mentioning trade as an engine of economic growth, be it domestic trade or trade with other  countries. The new classical economists, for example, drawing from historical evidence from the nineteenth Century, likened trade to an “engine of growth” (Nurske, 1961). Also, Kravis (1970) dubbed trade to be the “handmaiden of growth”. It has, therefore, become imperative for every Government to pay keen attention to matters relating to trade especially how to attain a higher real productivity in the export sector.

       Exports are goods and services produced domestically and purchased by foreigners. Net  exports are the difference between total exports and total imports. According to Afolabi (2011) Export can be defined as surplus goods and services of a country that are sent to other countries in the world for sale.

    Samuelson and Nordhaus (2010) see exports as the mirror image of imports. That one countries export is another’s imports. However, export is any goods or commodity transported from one country to another country in a legitimate fashion typically for use in trade (Oluchi, 2007).

            Just as there have been a continue increase in the importance of foreign trade so, also have the study of the concept by researchers been on an increase. This however, has led to the evolvement of several theories to analyze the impact of export on economic growth. According to Bbaale and Mutenyo (2011) as cited in Ugwuegbe and Uruakpa 2013) the present literature presents several plausible theoretical arguments supporting the view that exporting activities and overall economic growth are positively associated. On the one hand, exporting implies that a country gains access to the wider external demand, which acts as a stimulus to domestic output and hence economic growth. Second, it is frequently argued that small domestic markets may not grow continuously and that any positive economic shock leading to the expansion of the domestic markets is more likely to decay quickly. On the other hand, large external markets do not always encompass growth restrictions of economies of scale. However, the relationship between exporting and economic growth remains controversial as some authors have argued that export growth precedes economic growth hence giving a stance to the export-led growth (ELG) hypothesis (Arnade et al, 1995; Fosuthornton, 1996).on the other hand, others have provided evidence in support of the growth-led export hypothesis (GLE) by arguing that economic growth comes before export growth (Krugman,1984,Lancester,1980;Henriques and Sadorsky, 1996; Al-Yousif, 1999;Kernel et al, 2002).
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THE IMPACT OF EXPORT EARNINGS IN THE ECONOMIC GROWTH OF NIGERIA.

IMPACT OF CASHLESS POLICY ON THE NIGERIA ECONOMY

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study   

          The recent evolution of technology for financial transactions poses interesting questions for policy makers and financial institutions regarding the suitability of current institutional arrangements and availability of instruments to guarantee financial stability, efficiency and effectiveness of monetary policy. Over the course of history, different forms of payment systems have been in existence. Initially, ‘trade by barter’ was common; however, the problems of barter such as the double coincidence of wants necessitated the introduction of various forms of money (Swartz et al, 2004). Nevertheless, analysts have been predicting the complete demise of study instruments and the emergence of potentially superior substitute for cash or monetary exchanges, that is, ‘cashless society’.

Unlike the barter system which involves the exchange of one good for another, a cashless environment refers to one in which transactions are carried out with minimal exchange of physical cash. It implies that the payment instrument is not physical cash but other instruments such as cheques, electronic transfers, e-payment and so on. The rapid advancement in electronic distribution channels has produced tremendous changes in the financial industry in recent years, with an increasing rate of change in technology, competition among players and consumer needs as argued (Hughes, 2001). Since Nigeria‘s Independence in 1960, there have been different governments, constitutional reforms, change in economic policies and banking reforms, mainly directed at enhancing social welfare and achieving developmental goals but there has been no substantial positive change in Nigeria‘s Human Development Indicators.
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GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA (1981 – 2015)

CHAPTER ONE

INTRODUCTION

1.1       Background to the Study

Government Expenditure no doubt is an important instrument for a government to control the economy of a nation Economists have been well aware of the effects in promoting economic growth Anyway, the general view is that government expenditure notably on social and economic infrastructure can be growth enhancing although the financing of such expenditure to provide essential infrastructural facilities including transport, electricity, telecommunication, water and sanitation, waste disposal, education and health can be growth retarding (Olukayode, 2009).

Nowadays, the relationship between government expenditure and economic growth has continues to generate sense or controversies among scholars in economic literature (lnuwa, 2012) According to him, the nature of the impact of government expenditure on economic growth is in conclusion, and from the view point of the student researcher is still not incontrovertible As a matter of fact, while some author or researchers believed that the impact of government expenditure on economic growth is negative or non-significant (Tuban, 2010). Others believed that the impact is positive and significant ‘Alexiou. 2009).

The structure of Nigeria government expenditure can bawdily be categorized into capital and recurrent expenditure (Muritala 2011). The recurrent expenditure is basically government expenses on administration such as wages, salaries, interest on loans, maintenance cost. etc However, the expenses on capital project like roads, airports, education, telecommunication, Electricity, generator, etc are generally referred to as capital expenditure (Muritala. 2011).

Ironically, the effect of government spending in Nigeria in relation to the economic growth is still a puzzle and an unresolved issue indeed theoretically. it is an unresolved issue Although the theoretical positions on the subject are quite diverse, the conventional wisdom is that or spending is a source of economic instability or stagnation Empirical research does not conclusive support the conventional wisdom, a few studies report position and significant negative relationship between government spending and economic growth while others find significantly negative or no relation between an increase in government spending and growth in real output. It is against this backdrop, the study is undertaken to empirically evaluate the impact of government expenditure on economic growth in Nigeria.
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GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN NIGERIA (1981 – 2015)

GENDER ISSUES AND THE CHALLENGES OF RURAL DEVELOPMENT IN NIGERIA: A CASE STUDY OF IKWO LOCAL GOVERNMENT AREA OF EBONYI STATE 2006-2011

CHAPTER ONE

INTRODUCTION

1.1       Background of the Study

          Gender is a social construction and codification of differences between the sexes and social relationship between women and men (Oppong 1987, Mason 1984). The fundamental contributions of women in their households and national economies are increasingly acknowledged in Nigeria and by international community mainly because of their energetic efforts to organize, articulate their concerns and make their voices heard. At both grassroots and national levels, more women associations are taking advantage of the new political openings to assert their leadership roles.

          Gender issues and the challenges of rural development in Nigeria has attracted attention of national discuss from the academia, economist, cultural and political class. They are pressing for an expansion of women’s economic and social opportunities and the advancement of women rights. By improving their own positions, women enhances the country’s broader development prospects. Hence, it is pertinent to note that, women in Nigeria have continued to face enormous challenges.

          A nation’s population is almost divided evenly between males and females except under peculiar circumstances such as war or highly selective immigration which normally affect males more than females (Fapohunda 2012). Furthermore, Fapohunda (2012) states that nevertheless, throughout the ages, the sharing of power, wealth, influence, employment etc between men and women have faced daunting challenges of joblessness, absence of source of livelihood, widowhood and single parenthood. These challenges not withstanding the roles played by women in rural development in Nigeria and in all facts of human endeavours have been quite commendable and notable in the country.           Thus, the growing recognition of women contributions to rural development has not translated into significantly improved access to resources or increased decision-makingpowers. Neither has the dynamism that women displace in the economic, cultural and social lives of their rural communities through their associations and informal networks been channeled into creating new models of participation and leadership. Apart from the political challenges the material conditions under which most rural women live and work continue to deteriorate due to conflict, economic and social decline, spread of disease and neglect on the rights of rural women.
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GENDER ISSUES AND THE CHALLENGES OF RURAL DEVELOPMENT IN NIGERIA: A CASE STUDY OF IKWO LOCAL GOVERNMENT AREA OF EBONYI STATE 2006-2011

ENTREPRENEURIAL DEVELOPMENT INITIATIVE AND MICRO ENTERPRISE SUSTENANCE (A STUDY OF AWKA METROPOLIS) 

CHAPTER ONE

INTRODUCTION

1.1.       BACKGROUND OF STUDY

In recent times entrepreneurs have been referred to as necessary pre-requisite to mobilize capital exploit natural resources and create markets to carry on trade (Harbison &myers 2004). Entrepreneurs are agents who perform a vital role in the economic growth of a country and are linked to the overall industrial development of a linked tothe overall industrial development of a nation, some of this characteristics are risk-takers, decision-maker, perseverance, organizers and planner, innovative function, and Gap filling ability.

In today’s world where technological change, liberalization, outsourcing, and restructuring rule the business enterprises, the subject of entrepreneurship has gained greater interest. This is because entrepreneurship is seen as a method for bridging the gap between science and the marketplace, creating new enterprises, and bringing new products and services to the market.   Entrepreneurial activities impact on both the overall economy by building economic base and providing jobs.  The role of entrepreneurship in economic development is wide as it involves initiating and constituting change in the structure of business and society.  This change is accompanied by growth and increased output, which allows more wealth to be divided by the various participants, Hisrich and Peters (2002). Entrepreneurs are driven by the desire to be their own bosses, do what they want to do, and turn passions into profit-making businesses. An Entrepreneur is one who initiates a new business in the face of risks and uncertainty for the purpose of satisfying human needs and making a profit. An Entrepreneur carves out a niche for himself by scanning the environment, identifying opportunities and threats and combining and utilising the necessary resources to capitalize on opportunities identified. 
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ENTREPRENEURIAL DEVELOPMENT INITIATIVE AND MICRO ENTERPRISE SUSTENANCE (A STUDY OF AWKA METROPOLIS) 

EMPIRICAL RELATIONSHIP BETWEEN UNEMPLOYMENT AND ECONOMIC GROWTH IN NIGERIA

CHAPTER ONE                                               

INTRODUCTION

1.1       Background to the Study

Unemployment constitutes the major impediments to social progress. A part from representing a colossal waste of a country’s manpower resources, it generates welfare loss in terms of lower output thereby leading to lower income and well-being. It is see as both macro and   socio-economic problem; which arises as a result of insufficient and non- availability of jobs to correspond with the growing population (Uwazie & Ihugba, 2009). It is defined by the international labour organization (1982) as comprising all the persons above a specified age who during the reference period, are without work, that is, are  not in paid employment.  Feridun and Akindele (2006) identified unemployment as one of the major challenges confronting the Nigeria economy. Bello (2003) defined unemployment as the percentage of the labour force that is without job, but is able and willingness to work.  According to Noko (2013), unemployment in Nigeria is defined as the proportion of labour force that was available for work but did not work in the week proceeding the survey period for at least 39hours. Muhammand, Inuwa, and Oye (2011) submitted that unemployment constitutes a series of serious development problems and is increasingly more serious all over Nigeria.

There is actually no nation that is absolutely free from unemployment. The major difference is the degree and pervasiveness of this plight. According to the central intelligence Agency (CIA ) (2014), Nigeria with an estimated population of about 177million (2014 est.) following an  April 2014 statistical “rebasing “ exercise, Nigeria emerged as Africa’s  Largest economy, with 2013 GDP estimated at US &502 billion with a GDP growth rate of 6.2 percent (CIA). As impressive as the above figures may appear, youth unemployment has been one of the major problems facing Nigeria. A high level of unemployment and unemployment is one of the critical socio-economic problems facing Nigeria as the labour face with an increasing proportion of youths who are unable to get absorbed into the labour market.
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EMPIRICAL RELATIONSHIP BETWEEN UNEMPLOYMENT AND ECONOMIC GROWTH IN NIGERIA

EFFECTS AND ADMINISTRATION OF VALUE ADDED TAX IN THE NIGERIA ECONOMY

CHAPTER ONE

INTRODUCTION

According to Journal of Economic and International Finance vol. 3(8), 492-503, August 2011, Nigeria is a developing country and emerging economy whose exports are mainly crude oil. Her other natural resources asserted by Economic watch (2011) include: Natural gas, tin, iron ore, coal, limestone, lead, zinc and arable land. Her land mass covers about 923,768sqkm and she has a population of about 149,229,090.

According to Tran (2008), emerging economies are nations that have large territories and populations, and they are undertaking extraordinary development projects that call for new infrastructures, such as power — generation plants and telecommunication systems. These countries have pursued economic policies leading to faster growth and expanding trade and investments with the rest of the world.

These infrastructural developments demand a lot of resources and funding. By assertion of Access Bank (2011), Value-Added-Tax (VAT) is one of the ways of funding infrastructural developments. And to proceed further in this work are unfolding of detailed information on VAT.

1.1    BACKGROUND OF THE STUDY

Governments the world over have devised various means of obtaining and paying for the resources needed to meet their ever increasing responsibilities. In civilized societies, requisition of financial resources by funds raised from several sources such as borrowing, sale of goods and services et cetera and taxation is the oldest and the most significant source of fund to the Government. Taxation is considered significant to Government because it is one of the most useful tools for achieving the objectives of economic stabilization.
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EFFECTS AND ADMINISTRATION OF VALUE ADDED TAX IN THE NIGERIA ECONOMY

THE EFFECT OF INTEREST RATE MARGIN ON THE PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA

CHAPTER ONE

INTRODUCTION

  1. Background of the Study

The financial systems of most developing nations have come under stress as a result of the economic shocks of the 1980s. The economic shock largely manifested through indiscriminate distortions of financial prices which includes interest rates, has tended to reduce the real rate of growth and real size of the financial system relative to non-financial magnitudes (Davidson and Gabriel, 2004). Rasheed (2010), states that Nigerian economy saw different sectors in 1970s through the mid-1980s (regulated regime, 1960-1985).

Since 1986, the inception of interest rate deregulation, the government of Nigeria has been pursuing a market determined interest rate regime, which does not permit a direct state intervention in the general direct of the economy (Adebiyi and Babatope-Obasa, 2004).

Deposit Money Banks are the most important savings mobilization and financial resource allocation institutions. Consequently, these roles make them an important phenomenon in economic growth and development. In performing this role, it must be realized that banks have the potential, scope and prospects for mobilizing financial resources and allocating them to productive investments and in return promote their performances. Therefore, no matter the sources of the generation of income or the economic policies of the country, Deposit Money Bank would be interested in giving out loans and advances to their numerous customers bearing in mind the three principles guiding their operations which are profitability, liquidity and solvency (Adolphus, 2011). Depositors are paid some amount as interest for parting with their fund while borrowers are charged some amount as lending rates for making use of the funds. The difference between the lending and the deposit rate constitutes the margin. Net interest margin or interest rate margin and interest rate spread are used interchangeably in most literature. However, some authors prefer to use the term net interest margin when using ex-post data (difference between banks quoted lending and deposit interest rate) (see Enendu, 2003).
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THE EFFECT OF INTEREST RATE MARGIN ON THE PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA

FINANCIAL FEASIBILITY STUDY OF FIVE BROWN SUGAR MINI-PROCESSING FIRMS IN NIGERIA

ABSTRACT

Sugar generally has been described as an international commodity that has become the economic base of some developing countries (Wohlgenant 2008). Countries like Mauritius, Jamaica, and Sudan among others have gained enormous economic benefits like employment generation, increase in living standard of the citizenry from brown sugar processing, thus justifying their existence and improvement (Baron, 1975; 1979; TD, 2001). Why then Nigeria has not developed brown sugar?The broad objective of this project was to study the financial feasibility of five brown sugar mini-processing firms in Nigeria (Baizare, in Kaduna State, Sara in Jigawa State, Konar-Mada in Abuja – FCT, Gbajigi in Niger State and Omor in Anambra State). A reconnaissance survey was carried out to identify the locations and number of sugarcane farmers and sugar traders in the study areas as sample frame. Random sampling technique was used in selecting one hundred and sixty-three (163) sugarcane farmers and Purposive Sampling technique was used in selecting the five Brown Sugar Mini – Processing Firms/Processors.

Both primary and secondary data were collected for this study. Analytical tools used include; Descriptive statistics, Undiscounted cash flow Measures, Discounted cash flow Measures and Sensitivity Analysis Test models. The results established that; (i). Over 250, 000 hectares of sugarcane land were available in Nigeria. (ii). An average yield of 55 tonnes per hectare was recorded from the respondents across the studied areas. (iii). The average simple rate of return of the brown sugar mini-processing firm was 64%, which was higher than the 25% interest rate prevailing in the capital market. (iv). The Pay-Back Period (PBP) for the investment was three years. (V). The Benefit-Cost Ratio (BCR) of 3.2 was obtained at a suitable discount rate of 25%, which was quite greater than

  1. (vi). The average Net Present Value (NPV) at interest rate of 25% was N54,005,492.58. (vii).The Internal Rate of Return (IRR) was positive and even greater than 50%, which made the project worthwhile and financially viable and (viii). The sensitivity analysis test carried out using pooled data showed that both 10% and 20% either in increase in cost of processing or decline in prices of output had no negative impact on the project. (ix)The sensitivity indicators were less than 2%, the switching values ranges between 54% – 71%.      The Null Hypothesis, that       brown sugar Mini
  2. processing     firm in Nigeria is not profitable ‘was  rejected, while the alternative hypothesis that ‘brown sugar mini -processing firm in Nigeria is Profitable’  was     accepted.  The  study  recommends  that;  (i).  Nigerian government  should  encourage       brown  sugar  processing  using  Mini- Processing   firms    to help in bridging     the   gap (about 98%)     between domestic sugar production and consumption in Nigeria and reducing the
heavy  amount  of  foreign exchange   being  spent annually  on  sugar
importation. It will also be of assistance in providing rural employment and
reducing rural-urban migration of youths therby assist in alleviating the
poverty of the rural poor. It will also play a part in the realization of the

country’s vission 20 : 2020. (ii). Financial institutions such as micro-finance banks and Nigerian Agricultural co- operatives and Rural-Development Bank should be well-informed and given courage to grant credit facilities to both sugarcane farmers and prospective investors so as to enhance the brown sugar production in Nigeria .


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FINANCIAL FEASIBILITY STUDY OF FIVE BROWN SUGAR MINI-PROCESSING FIRMS IN NIGERIA

MARKET PENETRATION PRICING ON ORGANIZATIONAL PROFITABILITY CASE STUDY UNILEVER NIGERIA PLC

EFFECT OF MARKET PENETRATION PRICING ON ORGANIZATIONAL PROFITABILITY CASE STUDY UNILEVER NIGERIA PLC

Abstract

This research is an academic attempt to identify the impact of penetration pricing on organizational profitability.the study employed a survey research technique using Questionnaires the main instruments used in collecting primary data for the study while secondary data were obtained from textbooks, journals and materials the internet. The primary data were used in analyzing the research questions and testing the research hypotheses formulated respectively. A descriptive statistical analysis carried out through the use of simple percentages and t-test was the statistical tool used in testing the research hypotheses. The major findings obtained from the analyses that unilever adopted  market penetration price. It was also discovered from the findings that the goods and quality of services rendered to clients, the profitability objective of the firms was affected by the incident.

CHAPTER ONE

INTRODUCTION

Background to study

Price management is a critical element in marketing and competitive strategy and a key determinant of performance. Price is the measure by which industrial and commercial customers judge the value of an offering, and it strongly impacts brand selection among competing alternatives (Shipley and Jobber, 2001).Apart from world-class product development, pricing is key to success. Pricing is vital in attracting and capturing demand. Pricing is also fundamental in optimizing your product’s true worth out there in the real market place (Yeoman and McMahon, 2004). Furthermore, pricing is the only element of the marketing mix that generates revenue for the firm, while it is also the most flexible element of this mix in the sense that pricing decisions can be implemented relatively quickly (e.g. price changes) and be adapted easily to the conditions surrounding a company’s internal or external environment (Lewengart and Mizrahi, 2000). The objective functions of companies are multifaceted in that the viability of companies rests on a combination of different pricing objectives (Diamantopoulos, 1991). These objectives are flexible and change over time due to environmental or organizational conditions (Shipley and Jobber, 2001). Pricing objectives may be either supportive or conflictual. Thus, there are objectives that are compatible with each other e.g. market share increase and sales increase and objectives that oppose one another e.g. sales maximizations versus profit maximization (Myers, et al., 2002).MARKET PENETRATION

Penetration pricing strategy is a strategy in which prices of a  product or a service are set at less than its normal, long range market price set in order to gain more rapid market acceptance or to increase existing market share. This strategy can sometimes discourage new competitors from entering a market niche if they mistakenly view the penetration price as long range price (Justin, et al. 2004). Companies do their pricing in a variety of ways. In small companies, prices are often set by the boss. In large companies, pricing is handled by division and product – line managers. In industries where pricing is a key factor, pricing departments are set to assist others in determining appropriate prices. This departmental report is then disseminated to the marketing department, finance department and even top management. Others who exert an influence on pricing include sales managers, production managers, finance managers and accountants. Executives do complain that pricing is a big headache – and one that is getting worse by the day. Many companies do not handle pricing well and throw up their hands with strategies such as this: “We determine our costs and take our industry’s traditional margins”(htt://www.mbaknol.com/marketing – management/factors to consider when setting prices). Other common mistakes are not revising price often enough to capitalize on market changes; setting price independently of the rest of the marketing mix rather than as an intrinsic element of market positioning strategy; and not varying price enough for different product items, market segments, distribution channels and purchasing occasions. Firms must therefore set a price for the first time when it develops a new product, when it introduces its regular product into a new distribution channel or geographical area and when it enters bids on new contract. The firm must decide where to position its product on quality and price (Kottler and Keller, 2009).MARKET PENETRATION

Pricing therefore refers to the process of setting a price for a product or service and more than any other element of your marketing mix, will have the biggest impact on the amount of profit you make. Price for any product or a service will inevitably fall somewhere between that which is too low to produce a profit and that which is too high to generate any demand. Strategy is the set of actions through which an organization by accident or design develops resources and uses them to deliver services or products in a way which its users find valuable, while meeting the financial and other objectives and constraints imposed by key stakeholders. Most successful strategies give an organization some property that is unique or at least distinctive and the means for renewing its competitive advantage as the environment changes (Haberberg and Rieple, 2008).MARKET PENETRATION

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EFFECT OF MARKET PENETRATION PRICING ON ORGANIZATIONAL PROFITABILITY CASE STUDY UNILEVER NIGERIA PLC

EFFECT OF GOVERNMENT EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA (1981-2017)

EFFECT OF GOVERNMENT EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA (1981-2017)

ABSTRACT

In this study, attempt was made to investigate the effect of government expenditure on economic growth in Nigeria. The study covers a period between 1980 and 2017 and uses aggregate time series data from secondary source. Relevant time series data used in the model includes those on gross domestic Product (GDP} and different structures of government. Results of the study show government expenditure has a significant effect on economic growth though the significance is form dependent. i.e. the form of government expenditure considered. Also, capital and recurrent expenditure have significant effect on economic growth but in varying degrees and extent. Finally, it was found out that capital expenditure would have exert positive impact on the level of economic growth but for the issue of corruption and institutional oddity in Nigeria though the intended capital expenditure is indirectly converted to recurrent expenditure somehow which has its own effect on the Economic growth.

CHAPTER ONE

INTRODUCTION

1.1       Background to the Study

Economic growth generally refers to a sustained increase in per capital national income or output over a long period of time.  It is an economic situation whereby the quantum of increase in national output must exceed the rate of growth in population.  As expressed in Nworji, I. D ,Okwu, A .T, Obiwuru T C and Nworji, L.O (2012) it means a growth in a nation’s potential GDP, depending on the way and manner it is measured.

The attainment of Economic growth is a pertinent macroeconomic objective of nations, most importantly after the Second World War (Kumar, 2010).  This is in view of the fact that almost all national economies and governments have lean towards to intervening and caring out the fundamental roles of allocation, stabilization, distribution and regulation of the economy especially in a situation where and when the market has proved to be inefficient and, or its activities has become socially unacceptable.  In order to carry out these function governments pursues fiscal and monetary policy instruments such as taxation and spending (expenditure) to achieve accelerated economic growth and influence the working of the economy. The essence is to maximize economic welfare and ultimately ensure permanent aims of stimulating long-term growth of national economy.

Importantly, the parity between government expenditure and economic growth has continually triggered off series of debates among scholars. Overtime, government has been involved in fiscal policy measures such as provisions of public goods such as defense, road, education, health and power to mention but the few.  Some scholar such as Abu and Abdullahi (2010) among others had argued that increase in government expenditure on social-economic and physical infrastructures encourages economic growth.  By implication then, it can be said that government expenditure on health and education raises productivity of labour and increase the growth of national output.  Also, scholars such as Abu and Abdullahi (2000), Al-Yousif (2000), Ranjan and Sharma (2008) and Cooray(2009) were of the opinion that; government expenditure on infrastructural amenities such as road, communication, power and soon reduces production cost, increases private sector investment and profitability of firms and, hitherto fosters economic growth.

Other scholars on the hand totally objected the above claims and submitted that increasing government expenditure tend to slow down the overall performances of the economic.  Laudau (1986), Baro (1991) were of the opinion that higher government expenditure leads to a disaggregated economy.  They were of position that increase taxes and/or borrowing by governments may discourage individual from working as higher income taxes discourages individual from working for long hours or being motivated to work.  This may consequently reduce aggregate national income and output vis-à-vis investment level.  They also contended that increase government expenditure will lead to more borrowings by government and crowd out private sector leading to lesser investment and national output.  The bottom-line of these studies as mentioned above is that higher government expenditure has a negative impact on economic growth.

A cursory look at the Nigeria economy since independence and more precisely since the end of civil war in 1970 and the oil boom that follows in the 1970s have shown that there has been continued increase in government expenditure as a result of huge receipts from production and sales of petroleum resources and an increase in the demand for public goods such education, health, transport, communication, defence and security, agriculture, electricity and energy to mention but the few.

The paradox of the above is that the rising government expenditure, both recurrent and capital has not shown no any appreciable contribution to growth and development. To add to the above is the fact that over 50 percent of Nigerians are poverty ridden and lives under US $2 per day.  To cap it, public infrastructures in Nigeria are in dilapidated state while industries are collapsing due to epileptic power supply and poor road network, all leading to higher rate of unemployment and insecurity.   The macroeconomic indicators in the country are nothing to write home about as indicators like balance of payments, import obligations, inflation rate, exchange rate, GDP and national saving rate are all in dwindling state in the last couples of years (CBN 2008).

It is in lieu of the above tha this research thesis is designed to investigate the effect of government expenditure on economic growth in in nigeriaa between 1981 and 2017. This research will be country specific as it seeks to investigate the effect of government expenditure on economic growth in Nigeria.

1.2        Statement of the Problem

There has been no consensus among various theoretical literatures in relation to the effect of public expenditure on economic growth. Empirically, there are plethoras of works on the effect of public expenditure on economic growth in developing countries. Other studies like Easterly and Rebelo (1993) Singh and Weber (1997), Semmle, S.K (2007) , Motmmell (1990) and Delome (1999) established that there are significant positive growth effects of public expenditure, others, studies like AbuBadaer and Abu-Quarn (2003) and schaltegger and Torgler (2006) indicated that large government size is disadvantageous to economic growth.  According to the CBN, a cursory look at the total government (capital and recurrent) expenditures between 1980 and 2017 shown that government expenditure has been on the rising. For example, figures from CBN show that between 1970 and 2099, capital expenditure on economic services rose from N15.5milliom to809120.5, that on social and community services from 1.4million to120049.2million, and transfers from 100.7milliom to 211758.1 million. Likewise, on recurrent side during the same period, expenditures on services rose from 25.95million to 340193.77million, that on social and community services from 43,55million to 346071.95million and on transfer from 511.42million to 622171.10million (CBN, 2009). With these gorgeous increments in these sectoral allocations, the expectation is that there will be a correspondent   growth trend in the economy. But what is the reality on ground? This is the crux of this study.  This study is a country specific analysis as it concentrates on Nigeria, its government spending and its effect on economic growth.

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EFFECT OF GOVERNMENT EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA (1981-2017)

EXCHANGE RATE VOLATILITY ON EXPORT GROWTH IN NIGERIA ABSTRACT

IMPACT OF EXCHANGE RATE VOLATILITY ON EXPORT GROWTH IN NIGERIA

ABSTRACT

This study investigates exchange rate volatilitys and export growth in Nigeria using the Mundell-Fleming model as the theoretical framework and an ordinary least square regression method for the period 1986 to 2015. Empirically, it was discovered that Exchange rate and exchange rate volatilitys are found to have a negative and significant effect on Nigeria’s export growth and output growth measured by growth in the real domestic product has a positive and significant relationship with export growth. The study recommends that policy-makers should encourage export diversification to improve output performance and Exporting Firms in conjunction with the government should minimize exchange rate risks through the use of future contracts.

TABLE OF CONTENT

Cover page      –           –           –           –           –           –           –           –           –           –           i

Declaration      –           –           –           –           –           –           –           –           –           –           ii

Certification    –           –           –           –           –           –           –           –           –           –           iii

Dedication      –           –           –           –           –           –           –           –           –           –           iv

Acknowledgements    –           –           –           –           –           –           –           –           –           v

Abstract          –           –           –           –           –           –           –           –           –           –           vi

Table of content          –           –           –           –           –           –           –           –           –           vii

CHAPTER ONE

1.0       Introduction    –           –           –           –           –           –           –           –           –           1

  • Background to study –           –           –           –           –           –           –           –           1
  • Statement of problem – –           –           –           –           –           –           –           2
  • Objective of the study –           –           –           –           –           –           –           –           3
  • Research questions –           –           –           –           –           –           –           –           3
  • Research hypotheses –           –           –           –           –           –           –           –           3
  • Significance of study –           –           –           –           –           –           –           –           4
  • Scope of the study –           –           –           –           –           –           –           –           4
  • Organization of study- –           –           –           –           –           –           –           4

CHAPTER TWO

LITERATURE REVIEW

2.1 Conceptual Review           –           –           –           –           –           –           –           –           5

2.1.1 Exchange Rate Regimes in Nigeria       –           –           –           –           –           –           6

2.1.2 Exchange Rate Volatilitys in Context of Nigeria          –           –           –           –           7

2.1.3 Export Performance in Nigeria  –           –           –           –           –           –           –           9

2.2 Theoretical literature         –           –           –           –           –           –           –           –           9

2.2.1 Alternatives        –           –           –           –           –           –           –           –           –           13

2.3 Empirical literature            –           –           –           –           –           –           –           –           14

2.4 Theoretical framework      –           –           –           –           –           –           –           –           17

2.4.1 Pick’s Expansion of the Mundell–Fleming model         –           –           –           –           17

2.5 Summary of related literature       –           –           –           –           –           –           –           20

2.6 Limitations of the previous studies           –           –           –           –           –           –           22

CHAPTER THREE

RESEARCH METHODOLOGY

3.1       Specification of the model      –           –           –           –           –           –           –           23

3.2       Data transformation    –           –           –           –           –           –           –           –           24

3.3       Description of variables and a priori expectations      –           –           –           –           24

3.4       Data Requirement Estimation –          –           –           –           –           –           –           25

3.5       Data evaluation technique      –           –           –           –           –           –           –           26

3.6       Description of statistics-         –           –           –           –           –           –           –           27

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS, INTERPRETATION AND DISCUSSION OF RESULT

4.1       stylized facts-  –           –           –           –           –           –           –           –           –           29

4.2       correlation analysis result        –           –           –           –           –           –           –           31

4.3       Unit root analysis and result   –           –           –           –           –           –           –           32

  1. 4 Cointegration analysis result –           –           –           –           –           –           –           34

4.5       Result of vector error correction model estimation    –           –           –           –           35

4.6       OLS result       –           –           –           –           –           –           –           –           –           37

4.7       Diagnostic test result  –           –           –           –           –           –           –           –           39

4.8       Granger causality test result    –           –           –           –           –           –           –           39

CHAPTER FIVE

CONCLUSIONS AND RECOMMENDATIONS

5.1       Conclusions     –           –                       –           –           –           –           –           –           41

5.2       Recommendations-     –           –           –           –           –           –           –           –           42

REFERENCES

APPENDIX A

APPENDIX B

CHAPTER ONE

1.0       INTRODUCTION

1.1       BACKGROUND TO SYUDY

Nigeria is well endowed with natural resources but like many well endowed African countries, Nigeria exports almost all of its natural resources in their unprocessed state to its trading partners for further processing. Consequently revenues accruing from export of these natural resources are highly dependent on the volume of export of these natural resources and the export prices. Thus the importance of export to the Nigerian economy cannot be over emphasized. The volume of export of an economy is determined by several factors of which exchange rate is cardinal (smith, 2004).

The exchange rate arrangements in Nigeria have undergone significant changes over the past four decades. It shifted from a fixed regime in the 1960s to a pegged arrangement between the 1970s and mid 1980s and finally, to the various types of floating regime since 1986 following the adoption of the structural adjustment program (SAP). A regime of managed float without any strong commitment to any particular parity, has been the predominant characteristic of the floating regime since 1986. (Sanusi, 2004).

Exchange rate is a predominant determinant of world trade, receiving much attention in the context of global imbalances. The subject of exchange rate came to be a topical issue in Nigeria because it is the goal of every economy to have a stable exchange rate with its trading partners. In Nigeria, this goal was not realized in spite of the fact that they embarked on the devaluation of the naira and the adoption of the structural adjustment program (SAP) in 1986.

The key element of the structural adjustment program (SAP) was the free market determination of the naira exchange through auction system. This was the beginning of the unstable exchange rate. The government had to establish the foreign exchange market (FEM) to stabilize the exchange rate depending on the balance of payments, the rate of inflation, domestic liquidity and employment. Between 1986 to 2003 the government had experimented different exchange rate policies without allowing any of them to make a remarkable impact in the economy before it was changed. This inconsistency in policies and lack of continuity in the exchange rate policies aggregated unstable natural of naira rate (Gbosi, 2005).

The volatility in exchange rate is a major constraint on development of an economy, making planning more problematic and investment more risky. For instance, volatility in exchange rate may reduce or increase the activities of potential investors because it increases uncertainty in the determination of the returns of a given investment. Potential investors will invest in a foreign location only if the expected returns are high enough to cover for the currency risk (Gerado, 2002). Risk in international commodity trade usually arise from two main sources changes in the world price or the changes in the exchange rate. A country’s exchange rate behavior is an important determinant of the growth rate of its exports and it serves as a measure of its international competitiveness (Bah and Amusa, 2003).

Chukwu (2007) observed the instability of the exchange rate as a determinant of trade (imports and exports) in Nigeria; having a positive influence on trade. Ajayi (1988) in his analysis on the effect of exchange rate volatility on foreign trade observed a negative relationship between exchange rate volatility and non-oil export in Nigeria and other LDCs. This contradicting result is the motivation for this research to determine empirically, the impact of exchange volatility on the Nigeria’s oil and non-oil export performance.

1.2       STATEMENT OF PROBLEM

Despite the existence of literature on the influence of exchange rate volatility on trade in Nigeria, theoretical and empirical works on the subject are yet to produce a consensus.  The first strand of literature argues that it might hamper the growth of international trade (Chowdhury, 1993, Cushman, 1983, Kenen, 1988 and Rodrik, 1986).

The second argues that if the economic agents are sufficiently risk lovers, an increase in the exchange rate raises expected marginal utility of export revenue and thus induce them to increase their export s in order to maximize their revenue. Therefore exchange rate volatilitys may actually catalyze trade flows (Klein, 1990, Chambers and Just, 1991). Only a few attempts have been made to examine them for developing countries Nigeria inclusive because of lack of reliable time-series data. The available instances include vergil (2002) for turkey, Bah and Amusa (2003) for south Africa, Ajayi (1988) for some selected developing countries, Adubi and Okunmadewa (1999) for Nigeria.

This research is aimed at providing an empirical insight into the relationship between exchange rate volatilitys and total export growth in Nigeria. Previous studies reviewed assessed either the influence of exchange rate volatility on oil export neglecting the non-oil export or on non-oil export neglecting the oil export. They fail to ascertain the general effect on the total export of all goods and services. Analyzing only the oil and non-oil export exclusively may not really give a value judgment and conclusion on the effect of exchange rate volatility on export performance in Nigeria. This research was designed to fill this gap in the reviewed literature.

1.3       OBJECTIVE OF THE STUDY

The broad objective of the study is to empirically examine the nature of the relationship between exchange rate volatility and export performance in Nigeria. Specifically, the study addresses the following objectives:

  1. To determine if exchange rate Volatility causes export growth in Nigeria.
  2. To determine the effect of exchange rate Volatility on Export Growth in Nigeria.
  • To determine if the output performance have a significant impact on export growth in Nigeria.

1.4 RESEARCH QUESTIONS

In view of the above objectives, the research questions raised are:

  1. Does exchange rate Volatility cause export growth in Nigeria?
  2. What is the effect of exchange rate Volatility on Export in Nigeria?
  • Does output performance have a significant impact on export growth in Nigeria?

1.5 RESEARCH HYPOTHESES

Based on the above objective of the study, the following hypothesis was formulated:

  1. HO: Exchange rate Volatility doesn’t cause export growth

H1: Exchange rate Volatility causes export growth

  1. HO: Exchange rate volatility has no significant effect on export growth

H1: Exchange rate volatility has a significant effect on export growth

  • HO: Output performance has no significant impact on export growth

H1: Output performance has a significant impact on export growth

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IMPACT OF EXCHANGE RATE VOLATILITY ON EXPORT GROWTH IN NIGERIA

 

THE ECONOMIC IMPORTANCE OF SELF HELP COMMUNITY DEVELOPMENT (CASE STUDY OVIA NORTH EAST LOCAL GOVERNMENT AREA OF EDO STATE)

THE ECONOMIC IMPORTANCE OF SELF HELP COMMUNITY DEVELOPMENT (CASE STUDY OVIA NORTH EAST LOCAL GOVERNMENT AREA OF EDO STATE). A RESEARCH PROJECT MATERIAL ON ECONOMICS

CHAPTER ONE

INTRODUCTION

1.1       BRIEF HISTORY OVIA NORTH EAST LOCAL GOVERNMENT

Ovia north east local government area is one of the twenty-two local government areas in Edo State of Nigeria. The local government area was created from the district council under the local government law in 1976, the local government which lies across the larger part of the local government. Ovia North East local government area is one of the largest local area in Edo State in term of land mass.

Eguake (1990) noted that it is situated between longitude 5°45 and 6°15 east and latitude 5°15 and 6°45 north of the Central province of Edo State. The local government consist of twelve wards for the purpose of easy administration, the wards are Egheta, Utese, Uhen, Oghese , Olumoye, Okada, Emma, other are Isiuua, Egbarha, Ovbiogie, Utekan, Iguegho. Therefore the local government area is made up of about 50 villages. Okada is the administrative headquarter of Ovia north East local government area.

By 1960 the population of the district councils that now make up Ovia north east local government area has one-hundred and seventy six thousand, four hundred and fifty three (76,453) but it was projected in 1976 to be two hundred an forty-two thousand, two hundred and seventy-six (242,276) according to local government report Journal of 1950.

  The inhabitants of the local government area are Edo speaking people, so they are said to be the same origin with Bini’s and the Yoruba’s who claimed to have migrated from Egypt in search of a more ferile land. The major occupation of the inhabitants of the area are farming and trading, of recent the people have attached much importance to education which they hope will place them in better position in white collar-jobs in order to be able to develop the local government.

The village head in Ovia North East local government is the “Odionwere” the Enogie is the hereditary position while the Odionwere is the position for the eldest man in the community concernment.

The local government area is situated in the centre of Edo State. It is bounded in some village by Emma by Ovia north east local government area (map to be attached).

Development in the local government are is slow due to lack of infrastructural facilities the insufficiency of these basic infrastructure have caused devastating affects to the economic development of the area. Such that the social aspect of life in the local government has been hindered. Little wonder that the various communities in the local government embraced self-help developmental project which the researcher is to examine.

1.2       STATEMENT OF PROBLEM

In economic, there is a fundamental assumption that we want are numerous i.e. unlimited but the means of resources to satisfy them are very limited this statement is responsible for the government inability to satisfy the want of the whole people in the area she governs.

Realizing fully well that the government can not provide every thing they need, most communities have decided and device a way of promoting economic growth in their area which result to the adoption of self-help development project.

 

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THE ECONOMIC IMPORTANCE OF SELF HELP COMMUNITY DEVELOPMENT (CASE STUDY OVIA NORTH EAST LOCAL GOVERNMENT AREA OF EDO STATE). A RESEARCH PROJECT MATERIAL ON ECONOMICS

THE STATISTICS ANALYSIS ON INFLATIONARY TREND IN NIGERIA FROM (2001-201). A RESEARCH  PROJECT MATERIAL ON ECONOMICS

THE STATISTICS ANALYSIS ON INFLATIONARY TREND IN NIGERIA FROM (2001-201). A RESEARCH  PROJECT MATERIAL ON ECONOMICS

ABSTRACT

One major target of Marco-economic polices is how to achieve stability in price level,  stability here does not mean a situation  where price  will remain fixed, but a situation  where  variation in pries  over a long period is minimal since there is no stability in price sellers in labour and capital market  kept increasing, there prices for some economic and other reasons while  the producers and sellers in commodity market also complains of increasing  cost of production or purchasing cost employees in labour market form union and fight for increased  wages to enable  them meet up with high cost of living and depreciation in purchasing power of money. The ultimate  effect is that price continues to  go up from time-to-time, if these increase  in price where  gradual may be one or two percent  per year, people can easily adjust without much complaints but when prices are generally rising at a very fast rate people become very worried and that is when the effect of rising pries  becomes  of more  significance to the economy and lead to a situation known as Inflation, which is a process of steady and persistent rising  pries caused  by too much money chasing too few goods. These however,  posses  great challenges to the citicizens in particular and federal government generally, because it affects those with a fixed income and causes distortion government  development and co-operate plans.

Based on these critical situation been experienced in the country due to inflation. This project work “The statistical analysis   on inflationary Trend in Nigeria from 1999 -2010 is desired  to achieve the following objectives.

  1. To estimate the quarterly trend of inflationary rate in Nigeria from 1999-2010
  2.  To investigate if these is any seasonal variation in the inflationary rate in Nigeria.
  3. To ascertain whether there is any significance difference in means quarterly inflationary rate from 1999-2010.
  4. To determine factors that are responsible for inflation in Nigeria and proffer  possible solutions to it.
  5. To make necessary recommendation based on influence drawn  from the findings.

Furthermore, the research hypothesis will be to determine whether there is a significant  increase  in the trend  and seasonal variation in the inflationary rate in Nigeria.

The data  will be collected  through secondary source,  like the annual publication of the National Beareu of statistics NBS forming known as  the Federal Office of Statistics, while the statistical tool that will  be sued for analyzing data’s that will be  collected is time series analysis and Analysis of variance (ANOVA)

Finally, this research work will be f great significant to the Federal government in particular and the citizenry in general since it will enable government fight the root causes of inflation by introducing corrective measures though making of well articulated economic polices towards reducing these ugly diseases called inflation in our economy.

 

CHAPTER ONE

            INTRODUCTION

     Introduction

In this contemporary society one major target of a macro economic polices is how to achieve stability in price level. stability here does not mean a situation where price will remain fixed, it means a situation where variation in price over a long period is minimal

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THE STATISTICS ANALYSIS ON INFLATIONARY TREND IN NIGERIA FROM (2001-201). A RESEARCH  PROJECT MATERIAL ON ECONOMICS