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CHAPTER ONE INTRODUCTION 1.1  BACKGROUND  THE STUDY. The period of between 1972 to 1990 was a period described in the history of Nigeria economy as the period of oil boom within which time incoherent application of generated revenue from sale of crude oil was made. The various government many medium scale industries in various parts of the country same of these industries so established import as much as 90% of ...

CHAPTER ONE INTRODUCTION 1.1  BACKGROUND OF THE STUDY In Nigeria the central bank which is at the apex of the banking apples a variety of policy measure and technique with which to control and regulate money and credit in other to attain the desire for necessary to sue the package of discussing the efficiency or other wise of general economic management strategies. Government policy statement clearly revered that inflation become a ...

CHAPTER ONE INTRODUCTION 1.1  BACKGROUND TO THE STUDY The Nigerian economy was propelled by the astronomical increase in petroleum prices and the subsequent increase in foreign exchange in flow in the 1970s sound uchendu (2014) this new wealth resulted to a consumption pattern and taste, which altered aggregate demand in favor of imported goods, services and technology. In view of this strong demand for oil in the 1970s, and the ...

CHAPTER ONE INTRODUCTION BACKGROUND TO THE STUDY Revenue allocation in a federal community like Nigeria, may be describe as an attempt by the central  government to reduce the inequalities among its different units, as regard to the financial  resources available in the country. Within the economy, there are several possible inequalities such as population, size, wealth, level of development etc. All these factors should be put into consideration to ensure rational allocation ...

CHAPTER ONE INTRODUCTION During recent years, Budgeting is one of techniques involve in the process to meet the increasing complexities of the business society. Budgeting has gained much recognition and is of general application. Oxford Advance learners dictionary explained that budget is an estimate or plan of the money available to somebody and how it will be spent over period of time.  Government invested huge sum of money in reliabilitating and ...

Abstract The Nigerian experience revealed much confusion for several reasons. Apart from getting involved in the turbulent politics of ocean-borne trade right from the start without grooming and nurturing local competence, first, it totally ignored the need to create a learning curve with the sheer absence of a Cabotage legislation. In seeking to implement the National Shipping Policy Act, the NMA left out the bulk of section 14 cargoes, in ...

  ABSTRACT The study explored the Local Content Law and its effect on Job Creation and having Capital Oil and Gas Nigeria Ltd as its case study. The Survey technique was adopted in the study. Structured questionnaires were used for data collection, data collected were analyzed using the statistical tools of frequency counts, charts and simple percentage for the demographic data while inferential statistics of chi-square (X2) was used to ...

CHAPTER ONE INTRODUCTION 1.1   BACKGROUND OF THE STUDY In Nigeria, there are manufacturing firms that manage to manufacture on small-scale basis.  The manufacturing enterprises make such local consumable as garri pomade, detergents, sachet water, foot wears, garment, corn flour, cassava flour, and pastries including bread, cake, meat pie, fish roll, toast etc other relevant manufactured products include furniture items cement blocks and so on.  It has however been observed that the quantity ...

ABSTRACT This study was on economic importance of coronavirus in Nigeria. The Nigerian government essentially must lead economic diversification drive. It is one practicable way to saddle through the current economic uncertainties and instabilities. What the consequences of COVID-19 pandemic should further offer the Nigerian economic managers and policymakers, is that the one-tracked, monolithic reliance on oil is failing. Diversification priorities to alternative sectors such as agriculture, solid minerals, manufacturing ...

ABSTRACT This research work was designed to determine the role of small and medium enterprise in the development of Nigeria economy. Some selected enterprises were used as a case study and questionnaires were administered in order to extract information on this project. The objectives of the study include to identify the roles of small and medium enterprises in the development of the Nigeria economy and to evaluate the problems the ...

CHAPTER ONE 1.0 INTRODUCTION 1.1     BACKGROUND OF THE STUDY There is no doubt that the type of education bequeathed to us in Nigeria by our Colonial Masters is devoid of reasoning. From the first Education Ordinance issued by the privy in England to our much cherished national policy on education of 1981 (reversed 1998), the whole idea and aims have been a process of remediation instead of redesign - a camouflage, ...

CHAPTER ONE 1.0     INTRODUCTION 1.1     BACKGROUND OF THE STUDY Life in Nigeria today is stressful and confusing; because of the way the government works. How will a community performs economically, politically and socially depends, in many ways, on the creativity (thinking up new things), innovation (doing new things’), boldness, and vision of its administrator. Nigeria will develop only when the rural communities are developing only when the rural communities are developed. And, ...

CHAPTER ONE INTRODUCTION 1.1   Background of the Study Cooperative is a voluntary organization that is established within the people with common interest in cooperative there are some principles that guided the operation of cooperative business as stated by (ICA 1995). The first among the seven (7) principle is voluntary and open membership which is the area of consideration in this study.   The principle require that membership of any cooperative ...

CHAPTER ONE INTRODUCTION 1.1  BACKGROUND TO THE STUDY Nigeria is largest oil exporting country in Africa and has a rapidly growing economy. The country follows a resource based growth strategy driven by the production and exporting of oil. With the volatility of global oil prices and often volatile growth of Nigeria’s economy, the country has wasted much of its opportunities to break away from underdevelopment despite its massive natural and ...

CHAPTER ONE INTRODUCTION 1.1    BACKGROUND OF THE STUDY      By definition, a market is a place or a mechanism through which buyers and sellers exchange goods and services using a generally accepted medium of Exchange (i.e. Money). Thus, just like any other market, the Financial Market is a specialized market that is responsible for channelling financial resources from the surplus units ( savers ) to the deficit units ( those who needed ...

CHAPTER ONE INTRODUCTION 1.1  BACKGROUND TO THE STUDY The construction sector occupies a focal position in the economy of any nation because it is an important contributor to the process of development (Aje, 2008). In the conduct of economic activities, the construction sector is always used by government as the stimulus for the buoyancy of the economy (Akindoyemi, 2011). The construction industry is therefore a critical factor or variable of progress ...

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, ...

CHAPTER ONE INTRODUCTION 1.1   BACKGROUND OF THE STUDY The interplay or relationship between various macroeconomic factors is the subject of a great deal of study in the field of macroeconomics. While macroeconomics deals with the economy as a whole, microeconomics is concerned with the study of individual agents such as consumers and businesses and their economic decision-making The factors in the external environment not subject to the control of a manager ...

CHAPTER ONE INTRODUCTION 1.1    Background of the Study Over the years there had been several discourse about the nexus between population growth and unemployment rate in developing, underdeveloped and developed economies ever since the onset of the classical economists. Economists, policy makers and government agencies have debated whether or not population growth which may emanate from technical progress can enhance unemployment? However, most economists are of the view that long ...

CHAPTER ONE INTRODUCTION 1.1   BACKGROUND TO THE STUDY Electricity is pivotal to the economic development of nations. Its use is directly correlated with healthy economic growth (Kaseke & Hosking, 2013). Nigeria is one of the most populated countries in Africa but only about 40% of the people are connected to the energy grid. The people who actually have power experience difficulties around 60% of the time (Aliyu, Ramli & Saleh, ...