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CHAPTER ONE INTRODUCTION 1.1       BACKGROUND TO THE STUDY The advanced and developed economies of the world today would not have been what they are today without relying on effective power generation for their rapid growth recorded. According to Mulegeta et al (2010), power generation is an indispensable component in economic performance, directly or indirectly as a complement to capital and labor as an input in the production process. However, this ...

CHAPTER ONE 1.0  INTRODUCTION Budgeting is essentially concerned with planning. According to Hausen .O. (1990). Dr. Jones discovered, failure of plan, either formally or informally, can lead to financial disaster. Careful planning is vital to the health of any organization. If that is the case, what role does budgeting play in planning and control. Simply put, plans identify objectives and action needed to achieve them. Budgets are the actions needed ...

ABSTRACT The adoption of the International Monetary Fund (IMF) Structural Adjustment Programme (SAP) in 1986 resulted in the transition from fixed exchange rate regime to floating exchange rate regime in Nigeria. Ever since, the exchange rate of naira vis-à-vis the U.S dollar has attained varying rates all through different time horizons. On this basis, this study examines the reliability, persistency, and severity (degree) of volatility in exchange rate of Nigerian ...

CHAPTER 1 INTRODUCTION Background of the study A budget is a detailed financial plan that quantifies future expectations and actions relative to acquiring and using resources (Barro et al, 2007). It is a method of communicating the goals of an organization to the appropriate managers in order to facilitate, coordinate and control various sections of the organization so the desired outcomes are achieved (Argyris, 1953). According Abel and Andrew, (2005) ...

CHAPTER ONE INTRODUCTION Background of the study Budgeting is essentially concerned with planning. According to Hausen .O. (1990). Dr. Jones discovered, failure of plan, either formally or informally, can lead to financial disaster. Careful planning is vital to the health of any organization. If that is the case, what role does budgeting play in planning and control? Simply put, plans identify objectives and action needed to achieve them. Budgets are ...

CHAPTER ONE INTRODUCTION 1.1     Background of the Study The Nigerian economy has witnessed a slow pace of growth of less than 5 percent in the last two decades. Various reasons have been advanced to this development but the most apparent has been the poor investment climate in the economy and this has been attributed to the low available investable funds. The stimulation of sustained economic growth requires a balance investment ...

CHAPTER ONE INTRODUCTION 1.1   BACKGROUND OF THE STUDY The concept of the societal marketing known in modem term as corporate social responsibility is relatively, a new marketing philosophy at least in Nigeria and under-developed worlds. The concept of corporate social responsibility calls for practical support business organization to improve the society. Corporate social responsibility should direct attention to the performance of such practical and life improving areas of the society ...

CHAPTER ONE INTRODUCTION 1.1    BACKGROUND TO THE STUDY The agricultural sector in Nigeria was a source of foreign prior to the discovery of oil in commercial quantity. Then Nigeria was reckoned with the production and export of groundnut, cocoa, rubber, and other agricultural crops in Nigeria. The discovery of oil at large exploration in the 1970s turned the tide against the agricultural sector in favor of the oil sector. For ...

CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY Over the years, the South Africa pension funds have experienced different phases of growth and development through the implementation of various strategies. According to (OECD 2008, Yermo, 2002) stated that a pension fund is a kind of a legally separated pool of assets that are brought with the contributions to a pension funds for the exclusive purpose of financing pension funds retirement ...

CHAPTER ONE INTRODUCTION 1.1 Background of the study The importance of managing the economy effectively cannot be over emphasized. ICT has the power to change, transform lives, influence economic activities and the society. The banking sector is not an exception of this whole change and transformation. Just as the entrance of God’s word gives life, the entrance of information technology into the banking industry gives life and definition to banking ...

CHAPTER ONE               INTRODUCTION                           1.1 BACKGROUND OF THE STUDY A typical multinational corporation normally functions with a head quarter that is based in one country, while other facilities are based in the host country.  In   some circles, a multinational corporation is referred to as the multinational enterprise (MNE) or a transnational corporation (TNC) ...

CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY There are several factor that are considered with view of the economic development of Nigeria, some of this factors include taxation, fiscal policies and social policies etc; but for the purpose of this study we shall consider the effect of taxation on fiscal policy development in Nigeria; taxation is one of the major pivot to consider when dealing with fiscal policy; Olanifa ...

CHAPTER ONE INTRODUCTION Background of study In recent times, Nigerian economy has been characterized by high levels of public debt along with persistent low economic growth. As such, an understanding of the dynamics between public debt and growth is critical in addressing the obstacles to economic growth and to improve debt sustainability in Nigeria (Omet, Aktham&Fadwa, 2002). Traditionally, the main drivers of economic growth are the level and quality of ...

CHAPTER ONE 1.1   BACK GROUND OF THE STUDY Nigeria as a sovereign nation operates a federal system of government i.e the federal government, state government and the local government councils. Onwo (1992) Observed that each level of the three tiers of government derive its powers not from the magnanimity of the central government but from the constitution; each level of government has defined responsibilities assigned to it by the constitution. ...

CHAPTER ONE INTRODUCTION Background of study In recent times, Nigerian economy has been characterized by high levels of public debt along with persistent low economic growth. As such, an understanding of the dynamics between public debt and growth is critical in addressing the obstacles to economic growth and to improve debt sustainability in Nigeria (Omet, Aktham&Fadwa, 2002). Traditionally, the main drivers of economic growth are the level and quality of ...

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY The introduction of electronic banking, online transactions and mobile banking in Nigeria has paved way for a new era of development where the use and demand for physical cash is gradually declining. These recent evolution of technology in the Nigerian financial institutions posses interesting questions for economist, financial institutions, business analyst and the government regarding the current economical status, logistics, and availability ...

ABSTRACT The decline of non-oil exports has had adverse effect on the economy. Since 1986, the federal government has formulated policies to enhance non-oil exports, put in place incentives and institutional support framework effective implementation. This paper examines these policies to investigate the extent to which the exchange rate can boost non-oil exports especially agricultural, manufactured and mining exports. This paper is derived from the recognition that the country’s current ...

CHAPTER ONE INTRODUCTION BACKGROUND TO THE STUDY As Africa’s most populous country, Nigeria boasts of the continent’s second largest oil reserves and has a very promising growth outlook. Poised to eclipse Africa’s largest economy by 2016, Nigeria is becoming a rather worthy recipient of foreign capital, receiving anywhere from $10-$12 billion per year. However, in order to take full advantage of what foreign investment has to offer, Nigeria has been ...

Abstract The objective of the study is to examine empirically the impact of financial intermediation on the real sector of the Nigerian economy with the aim of determining the impact of financial intermediation on the real sector growth. Both theoretical and econometric analysis are used in this study to examine the impact of financial intermediation on the real sector growth; using real GDP growth rate as the dependent variable and ...

Abstract It is because of social issues like economic inequalities, unemployment that made the state to interfere in economy of Nigeria. Government chose public sector as a means or medium for economic and social development due to poor managerial skill, weak technological base etc, this enhanced the zeal to establish various enterprise institutions in Nigeria. Then, due to inadequate capital and lack of finance, public enterprises in Nigeria are confronted ...