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CHAPTER ONE 1.0            INTRODUCTION 1.1     Background of the Study Available literature on world history reveals that nothing bothers national leaders more than the thought of economic development. Hence outstanding world leaders are always formulating and carrying out policies aimed at economic development of their nations. No prospect is more alluring to nation leaders than the thought of bringing in businesses to develop their ...

CHAPTER ONE INTRODUCTION 1.1    BACKGROUND OF THE STUDY Foreign exchange is the means of payment for international transaction. It is made up of convertible currencies that are generally accepted for the settlement of international trade and other external obligation. Just like every other commodity, a market is established which works more like any other market having a supply curve, a demand curve and an equilibrium price and quantity. There are also ...

CHAPTER ONE     INTRODUCTION    1.1   BACKGROUND OF THE STUDY One of the major functions of the government especially developing countries such as Nigeria is the provision of infrastructural services such as electricity, schools, hospitals, pipe-borne water, good roads and as well as ensure a rise in per-capital income, poverty alleviation to mention a few.    For these services to be adequately provided, government should have enough revenue to ...

CHAPTER ONE INTRODUCTION BACKGROUND TO THE STUDY In West Africa before the advent of the European, trade by barter was a phenomenon of the economy. The early stage of monetary development in West African was characterized by crude or primitive saving structures, where valuables are personally hidden in placed not easily detected or kept with some money lenders for custody. Although the term “banking” was not in use “savings: had ...

CHAPTER ONE INTRODUCTION 1.1       Background of the Study The dynamic role of Small and Medium Enterprises (SMEs) in developing countries as engines through which the growth and development objectives of developing countries can be achieved has long been recognized and stated in the literature. The advantages claimed for Small and Medium Enterprises (SMEs) are various, including: the encouragement of entrepreneurship (Ayozie and Latinwo, 2010; Ayesha, 2007); the greater likelihood that ...

CHAPTER ONE INTRODUCTION 1.1       BACKGROUND OF THE STUDY One of the major functions of any government especially developing countries such as Nigeria is the provision of infrastructural services such as electricity, pipe-borne water, hospitals, schools, good roads and as well as ensure a rise in per capita income, poverty alleviation to mention a few. For these services to be adequately provided, government should have enough revenue to finance them.  The ...

CHAPTER ONE INTRODUCTIONS 1:1     BACKGROUND OF THE STUDY The ultimate goal of any credible and legitimate government is to ensure sustained improvement in the standard of living of the citizenry. Toward this end, the government usually evolves development plans that will facilitate effective mobilization, optimal allocation and efficient management of national resources. In such efforts, priority is usually given to the provision of development facilitators, such as transportation ...

CHAPTER ONE INTRODUCTION 1.1            Background of the Study The political, economic and social development of any country depends on the amount of revenue generated for the provision of infrastructure in that given country. However, one means of generating the amount of revenue for providing the needed infrastructure is through a well structured tax system. According to Azubike (2009), tax is a major player in every ...

CHAPTER ONE INTRODUCTION 1.1       BACKGROUND OF THE STUDY The economic system practiced by any country determines the type of economic policy that country produces, that is determines the monopoly of power of power in production and distribution activities with special reference to the ownership, decision making as well as incentive structure operating in the country. Karl Polory (1964) distinguishes three (3) main types of economic system as ...

CHAPTER ONE INTRODUCTION 1.1         BACKGROUND OF THE STUDY Agriculture sectors is one of the earliest sector, it starts when man has to survive as gathering of fruits and nuts. He has depended on the natural burning of the forest and water body. It is only recently as perhaps ten thousand year ago that man began to adopt and attempt to domesticate animals and plants. He began ...

CHAPTER ONE INTRODUCTION BACKGROUND TO THE STUDY Cooperative societies are a unit of business organization. In recent times, the importance of cooperatives have come into focus in West Africa countries. Cooperatives society origin is traced to the Rochadale Pioneers of 1844. It is believed that cooperative societies were in cooperative before 1844, but is the Rockdale Pioneers of 1844 who popularized the modern day cooperatives movement. The Rockdale consisted of ...

ABSTRACT The study examines the impact of inflation on economic growth of Nigeria. Other micro economic variable tested along with inflation in this study are Agriculture, manufacturing, and trade. In analyzing the data the simple percentage method was applied the empirical results demonstrated that there is a positive relationship between the dependent variable (agriculture and trade) and explanatory variable except in manufacturing. The relationship between inflation and economic growth is ...

CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY The survival of human beings that is man depends largely on some units of life. The most important of them is food, while others include housing pipe borne water, health, among others. In this present day’s basic essential of life are not obtained as gift rather that is purchased by those who demand for them. This is why they always say there is ...

CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY Nigeria behaviour towards home made goods have always been on the negative directions since the introduction of foreign goods, the reason behind this their act cannot be fat fetched, notably among them are poor quality of our home made goods. And the act of commanding respect and prestige through ostentation goods. In this research some home made goods will be examined and compared ...

ABSTRACT This study aims at evaluating the oil sector vis- a vis the agricultural sector in Nigeria from 1981-2007. The role of agriculture in the Nigerian society has been quite significant even in the pre-colonial times. The attractiveness of the Nigerian agricultural sector to the colonialist largely formed the basis for the development of the railway system from the north to the coast through the eastern and western of the ...

CHAPTER ONE INTRODUCTION 1.1       BACKGROUND OF THE STUDY One of the ways taken by all economy to make the banking sector effective is the use of the monetary policy introduced by the federal government and carried out by the apex bank of the country. Apparently, the existence of an effective banking industry is vital to every economy and it encourages economic growth and development via its role in financial interdiction ...

CHAPTER ONE INTRODUCTION 1.1      BACKGROUND OF THE BODY Privatization Appeared on standard dictionaries only in the early 1980s for many years up to 1980, the Nigerian government made fairly extensive use of the public enterprise for resource mobilization and allocation, particularly within the social service and utilities sector with the windfall from the crude oil sales during the boom of the 1970s, the economic activities of PES in ...

CHAPTER ONE INTRODUCTION 1.1    BACKGROUND TO THE STUDY Manufacturing sector plays a catalytic role in a modern economy and has many dynamic benefits crucial for economic transformation.  In a typical advanced Country, the manufacturing sector is a leading sector in many respects.  It is an avenue for increasing productivity related to import replacement and export expansion, creating foreign exchange earning capacity; and raising employment and per capital income which causes unique ...

CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY Generally, globalization can be viewed as the integration of national economics through trade, capital flows and the accompanying convergence of economic policies. It is the process whereby political, social, economic and cultural relations increasingly take on a global scale and which has a profound consequence for individual’s local experience and everyday lives (Bilton, 1997). The definition above implies that globalization operates both at ...

CHAPTER ONE INTRODUCTION 1.1       BACKGROUND OF THE STUDY The financial system is a collection of various institutions, markets, instruments and operators that interact within an economy to provide financial services. The services provided include resource mobilization and allocation, financial intermediation and foreign exchange transactions. The Nigeria financial system can be categorized into two viz; the formal or organized and informal or unorganized financial system. The informal sector comprises of local ...