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BANKS PARTICIPATION IN
THE INDUSTRIAL DEVELOPMENT OF NIGERIA. (A CASE STUDY OF ENUGU STATE)
ABSTRACT
This work aims at satisfy those who have interest in banks
participation in the industrial development of Nigeria, especially the bankers
throughout the world who are involved in financing industrialization process.
For the purpose of the study, the researcher used the
following methods in collecting data to enable her carryout an effective study.
Related literatures were received, Primary and Secondary data such as oral
interviews, news, newspapers, Journals, CBN Bullion were used. These were not enough to supply the
information needed and to that effect, the researcher made use of
questionnaires, which she designed and distributed to the staff of banks that
are currently participating in the industrial development of Nigeria and the
general public to test hypothesis, using Chi-Square as a test techniques.
From the questionnaire collected the researcher made these
major findings:
-That banks can participate extensively in financing of
industrial development in Nigeria.
3 That banks
participation does not have any significant impact in industrial development in
Nigeria.
4 That the rapid
growing of banks has in some ways contributed to the industrialization process of
the country.
TABLE OF CONTENT
CHAPTER ONE
Introduction
1.1 Statement of
the problem & Purpose of Study
1.2 The rational
of the study
1.3 Significant
of the study
1.4 Background of
the study
1.5 Definition of
terms
CHAPTER TWOLiterature Review
2.1 Theoretical
Review
2.2 Empirical
Review
CHAPTER THREE
Hypothesis of the study, Research Tool And Procedure, Source
of data and Limitation of study
1.1 Hypothesis of
the study
1.2 Methodology
of the study
1.3 Sources of
data
1.4 Limitation of
the study
CHAPTER FIVE
5.1 Summary
5.2 Conclusion
5.3A Recommendation
5.3B recommendation
for future Scholars
CHAPTER ONE
INTRODUCTION
1.1 STATEMENT OF
THE PROBLEM AND PURPOSE OF THE STUDY
For any country to attain any degree of industrialization, it
must have to over-come some series of obstacles and difficulties and it has to
depend some how on some financial institutions to facilitate the
industrialization.
This research work is then designed to investigate the banks
participation in the industrial development.
A country becomes famous among other countries of the world when it has
been able to attain a remarkable degree of industrialization.
The aim of this study is to investigate how and the level of
participation of the banks to the industrial development of Nigeria, hence to
determine the impact of financial institutions on the industrial growth in the
country. This study will also investigate on the gains and losses of this banks
that participate in one ways or the other to industrial growth. And why some
financial institution developed cold feet in participating in industrial
development.
This, this is an attempt to draw the mind of every Nigeria to
this question below.
- How far has our country advanced in industrial development
through the assistance of bank?
1.2 THE RATIONAL
OF THE STUDY
Industrialization means the development of country through
industries; A developing country like Nigeria is characterized by a high degree
of subsistence production. Whether a country developed or not depends on the
existing level of wealth and material welfare. The measure of development of
any country is based on its per capital income i.e dividing net national income
by the total population to get per capital income.
The banks
has a major role to play the development of any industry and the nation at
large. This impact of banks to the industrial development ranges from loan
assistance, financial advices and other areas which the bank may assist. That
is why it is pertinent to research into industries to know how far they have
gone in the development of Enugu State, and suggest more possible ways the bank
could help more to our nation
1.3 SIGNIFICANTS
OF THE STUDY
This study is very important to the industrial development
of this country through Bank Participation, since the study
focused on its activities. It will help the Management to know the problems
faced by industrialists in Nigeria in obtaining funs and see how best to assist
in the circumstances like this.
The
industrialists will equally gain from the study to express their own views on
how they see the role played by banks to their development in Nigeria.
Finally,
academicians will also gain from the study, it will serve as reference material
to them and will enhances their views on industrial growth in Nigeria.
1.4 BACKGROUND OF
THE STUDY
There are types and classes of banks established to
developed respective
sectors in the economy and they are
developments banks,
Commercial banks for Commerce and
industries, Merchant
banks, Agricultural development banks and other. Nigeria’s engagement in
economic activities is on a subsistence basis e.g Agriculture, Poultry,
Fishing, Weaving and Mining etc. These are small and medium Scale industries.
The above mentioned banks are given credit guideline by the
Central bank of Nigeria (CBN) on how to lend to the industrials and these
guidelines are not normally adhered to by these banks with reasons. The 1972
indiganization decree was necessary so as to direct financial institutions
through Central Bank of Nigeria (CBN)’s credit guideline to extend certain
percentages of their total loans and advances to indigenous borrowers to
promote industrialization. Banks have their reasons for inadequate credit to
small scale and medium size enterprises like;
(i) Their attitude
towards risk makes them restrictive in their lending policy.
(ii)
Many Small Scale enterprises have all conceived projects in which they
have estimate which is often ridiculously valued.
Also problem may arise when there are stipulations for small
Scale industrialists to meet certain requirements before they are granted loan.
One of the identified problems with credit facilities more especially the ones
obtained from commercial banks to the individualists, it’s short-term nature
and high interest rate, which will not enable the individual have enough time
to recoup the funds invested e.g investment on farm implements lime tractors
and lorvesters e.t.c. To recoup the money invested on these implements will
take some time because they are capital investment and need a long tenure of
repayment.
1.5
DEFINITION OF TERMS
1. Development
Banks:- Refers to institutions established to encourage the economic growth of
a nation. The banks are seen as a
vehicle for mobilization of channeling medium and long term Capital with the
production sector of entrepreneurship and technical assistance.
2.
Industrialization: Is the process of developing the capacity of a
country to master and locate within its borders the whole industrial production
process of intermediate products for other industries, fabrication of the
machines and tools required for the manufacture of the desired product and of
other machines, skills to operate.
3. Bank: A bank
can be defined as an institution or establishment for safe keeping lending and
exchange of money.
4. Credit
Facilities: This refers to those facilities which the bank grants to their
customer. This include loans and advances as well as overdraft.
5. Loan: This
refers to a facility which a bank grant to its customers of which the customer
is expected to repay the amount at a due date. Interest is paid at the end of
each mouth.
6. overdraft:
Is a situation whereby a customer is a allowed to overdraw his account subject
to a maximum limit during a given period of time, usually a year. This is
short-term financing.
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