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THE ROLE OF SMALL SCALE INDUSTRY IN THE DEVELOPMENT OF
NIGERIA ECONOMY
ABSTRACT
Nigeria
is presently one of the under developed countries of the world and to change
the situation, a lot need to be done in all sectors of her economy,
particularly the industrial sector. To develop the industrial sector,
small-scale enterprise comes under a special focus because they dominate a
large portion of Nigeria’s industrial sector.
These
small-scale enterprises play a significant role in economic development in
Nigeria, setting it on the path towards development of self-reliance.
It
is in recognition of the importance of these small-scale industries that this
project is written to examine what small-scale industry really are, to look at
their contribution to the Nigeria economy as well as problems they face in
carrying out their activities with a view to making useful suggestions on the
way to curtail these problems.
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
Small-scale industries have been in existence since time
immemorial. They are earliest form of business that the early men use to get
their needs, basically food, cloths and shelter. They exchanged what they had
for what they wanted. It was latter on that large-scale business started to
emerge and they are now found in a large number, in every country of the world.
However, small-scale
industries still form a dormant part of business enterprises particularly in
developing nations, which includes Nigeria. In recent years, since the adoption
of the economic reforms program in Nigeria (1986), there have been a device
switch of emphasis from the grandiose capital intensive large-scale industrial
project to small and medium scale enterprises linkages for rapid sustainable
industrial development based on the philosophy of input substitution.
Small-scale industry is an industry whole total project cost excluding cost of
land but including working capital above #1million but does not exceed
#10million. However, in most developed countries and the newly industrializing
countries of the world, Small and Medium Enterprises (SME) are generally
defined on the basis of number of people employed to take account of Small and
Medium Enterprises (SME) labour intensive characteristics
At independent in
1966, Nigeria economy was mainly agrarians industry plays a vital role in
economic development in fact, it provided the brightest hope for generating
sustained growth employment improved spinning and investment.
1.1 AIMS AND OBJECTIVES OF THE STUDY
This project has been designed to serve as an
aid to the understanding of the roles played by small-scale enterprises to the
development of Nigeria economy and also to suggest effective possible ways of
improving small-scale enterprises in Nigeria so as to feel the contribution of
small-scale industries. The following are considered to be the basic objectives
of the aims or the study:
(i)
To examine the activities and contributions
of small-scale industries.
(ii)
To identify the need for improving the
small-scale industries.
(iii)
To identify problems associated with
small-scale industries.
(iv)
To provide with useful suggestions and
solutions how to improve small-scale industries in an economy.
IMPORTANCE
v It
will help an individual to know the necessary requirement need in setting up
small-scale industry.
v An
individual will be able to know what appropriate types of business ownership
one should choose.
v It
will help an individual to identify the various problems associated with small-scale
industry.
v It will
provide useful suggestions and solutions on how to improve small-scale in an
economy.
1.2
THE SCOPE OF THE STUDY
The research carried out covers Federal
ministry of Small and Medium scale industry Abuja. The research could have been
successful but unfortunately, the minister for the Federal ministry of
information went out with the Director for the Federal ministry of Small-scale
industry in order to conduct an interview for new employee of NBC, which is a
bank under the ministry of (SSI). Later a member of staff of the industry gave
a note on the promotion of small scale and medium scale enterprises as a
strategy for Nigeria economic development.
1.3
STATEMENT OF PROBLEMS OF STUDY
Despite the achievement recorded in the Small-scale
Enterprises (SSE) sub-sector, we are mindful of the fact that we need to
further address certain issues in order to match or even surpass those recorded
by developed and the newly industrializing countries of this world. These
issues includes:
(a) Inadequate
infrastructural facilities: both the Federal and State government are currently
intensifying their programmes to provide industrial estate layouts and
technology for promotion of SME.
(b) Lack
of inter and intra sectorial linkages: as at now, there are low level of
linkages between the cottage industries and Small-scale Enterprises (SSES)
ministry has conducted studies and recommendation of the studies are currently
being appraised.
(c) Poor
managerial capacity: since 1986, the Federal Government has been exposing our
small and medium scale industries to training through various entrepreneurship
development programme like EDPI working- for yourself programme.
(d) Lack
of stable and generally acceptable definition for small and medium enterprises:
such tends to question the basic policy under which activities and programmes
an SMES evolve.
1.4
SIGNIFICANCE OF THE STUDY
I hope this
extended essay will be of a greatz significance to an organization as
suggestion which shall be given in this study will go a long way in assisting
them to improve on small scale management. The study will also help those who
want to start small business especially in rural areas.
1.5 LIMITATION OF THE STUDY
Small-scale business is not easy to define as
viewed casually due to certain reasons, which are stated below:
(i)
The term Small medium and large relatively
differs from industrial countries to country and they’re no unique or
universally accepted definition of these terms.
(ii)
It is also important to recognize that the
definition change over a period of time and depend to a large extent or
countries level of development. For example, “what large scale is in the 1950s
may be regarded as small-scale today.
(iii)
Different parameters are used in defining
small business. Among the yard stick used are asset value. Turnover rates
number of employees and size within the industries. However, examples find it
difficult to give a single sentence in defining Small business that could be
accepted universally. Reference to the British committee that was set up in
1969 to enquire on Small firms. They found it difficult to agree on a single
definition that will cover manufacturing, whole selling and retailing
industries thus, the committee used eight (8) definitions for various groups
which ranged form 200 employees for manufacturing under 50 turn over for
retailing 5 vehicles or less for transport.
1.6 DEFINITION OF KEY TERMS
Small
– Scale Industries: This can be define an industry with a total
capital employed of at least N 1.5 million, including working capital but excluding cost of land, or a labour size of 11
– 150 workers.
Development:
Can be seen as a process of acquiring new ideas and skill
process of Acquiring new ideas and skill for the purpose of achieving
individual growth and societal advancement. Thus development involves a complex
of mutual related economic social and political changes.
Quality
and Standard: Small entrepreneur are generally unaware of
the importance of standard and quality. They may not have the facilities for
and knowledge about standard.
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