ABSTRACT
This research work tries to give an insight into the issue
of the role of Banks in industrial development of Nigeria. Since 1982 when the petrol
Naira started flowing. The project work is aimed at analyzing and ensuring a
diversified economy, industrialization also accelerates the economic
development of a country, which sound a policy that will keep the nation’s
economy.
This is
work is organized into five chapter
Chapter one
deals with the introduction, Background, statement of problem, purpose of
study, significance of the study, limitation and definition of terms.
Chapter two
involves a review of some related literature the for industrialization, the
need to improve compettileness, the need to improve operational capacity, and
problems of industrialists and industrialization.
Chapter
three treat the Research the signed and method of collection, source of data
used and location of data.
Chapter
four deals with the summary of finding, low work is observed, and finally the
last chapter, which contain the Recommendation, conclusion and Bibliography
which end the this project.
TABLE
OF CONTENT
TITLE PAGE i
APPROVAL PAGE ii
DEDICATION iii
ACKNOWLEDGEMENT iv
ABSTRACT v
TABLE OF CONTENT vi
CHAPTER ONE
1.0 INTRODUCTION 7
1.1 BACKGROUND 7
1.2 PURPOSE OF
THE STUDY 11
1.3 STATEMENT OF
THE PROBLEM 11
1.4 SIGNIFICANCE
OF THE STUDY 12
1.5 LIMITATION OF
THE STUDY 12
1.6 DEFINITION OF
TERMS 13
REFERENCE
CHAPTER T WO
2.0 REVIEW OF
RELATED LITERATURE 17
2.1 THE NEED FOR
INDUSTRIALIZATION 17
2.2
THE NEED FOR BANKS INVOLVEMENT
IN INDUSTRIALIZATION 24
2.3 THE NEED TO
IMPROVE COMPETITIONS 28
2.4 THE NEED TO
IMPROVE OPERATIONAL CAPACITY 28
2.5 THE PROBLEM
OF INDUSTRIALIZATION AND
INDUSTRIALIZES 30
REFERENCE
3.0 RESEARCH
DESIGN AND METHODOLOGY 37
3.1 SOURCE OF DATA 37
3.2 LOCATION OF
DATA 38
3.3 METHOD OF
DATA COLLECTION 38
REFERENCE
CHAPTER
FOUR
4.1 SUMMARY OF
FINDING 41
REFERENCE
5.1 RECOMMENDATION 45
5.2 CONCLUSIONS 47
5.3 BIBLIOGRAPHY 49
CHAPTER
ONE
1.0
INTRODUCTION
1.1 BACKGROUND
Nigeria,
since the oil boom in the early 80’s has been a victim of a monolithic economy
and since then has been enjoying the so-called petrol Naira without adequately
evolving a sound policy that will keep the nation’s economy in a firm
foundation of steady growth.
Though the
country recognized the importance of industrialization as far back as 1982 yet
when the petrol naira started flowing in, we were blind folded as to ignore the
importance of establishing industries to diversify the economy. Now the petrol
naira is no more and the future out look is bleak, the need for a diversified
economy became the subject matter of many government policies and action.
This leads
us to one for the ways for solving the problem, and that is industrialization.
Apart from ensuring a diversified economy, industrialization also accelerates
the economy, industrialization also accelerates the economic development of a
country. Infact the basic premise is that if a country wishes
to accelerate the over all rate of growth of G.N.P and
this has to be reflected in an increasing dominating role of manufacturing
industry in the total economy.
This also
emphasizing on the role which banks plays in order to improve the growth of
industries in Nigeria
by explicable manifesting ho w the roles banks can be employed for the growth
and development of industries. It also emphasizes on the role in which banks
play in the industrial development of Nigeria as it could be seen through
the sustenance of industrialization in the country.
More so,
industrialization ensures export expansion and import contraction coupled with
the fact that it stimulates foreign exchange earrings, international
recognition an the provision of employment opportunities for the teeming
population.
Industrialization
has been proved beyond doubts as very important for a nation’s survival
therefore it is pertinent that we explicable manifest how the role of banks an
be employed for the development of these industries though the country
recognized the importance of industrialization as far back as 1964 yet when the
“petrol Naira†started flowing in, they were blind folded as to ignore the
importance of establishing industries to ensurear diversified economy.
Also the banks provide overdrafts facilities, which are
necessary to finance the working capital of the business. An over draft could
be defined as arrangement whereby the banks allow the customer to overdraw his
account up to a credit position at the end of the period. Apart from granting
loans and over draft facilities there are other roles which includes
professional advice, reasing and factoring, also extend into invoice
discounting hire purchase, bill discounting hire purchase, bill discounting
service and above all the determination of the actual external funds required
by a borrow these are accepts of such services which help industrialization
grow or expand sight should not e lost of the fact that industrialists and
industrialization suffer thri own problems, which should be analyzed ans solved
to ensure industrial development.
These
problems of obtaining capital from banks and operational problems are caused by
the dictates of the Nigeria
environment and society. It has been noticed that the level of banks industrial
financing has been very poor compared with what obtains in industrialized
nations such as Germany, Untied states of America, V.S.S.R and t he united
kingdom to mention but a
few. The central bank of Nigeria should step up their
moral suasion policy so or make these banks especially the commercial Bank to
increase the level of their financing emphasis should be placed on medium long
term loans so as enable the industries concretized their form of outputs with
the funds available from the banks, the industrialists should be made to
judiciously invest them with other important of sound firm and concerete
foundation must have been laid for the industrial development of the country,
Banking
industrial, the food processing industry the sugar processing industry the tobacco
manufacing industry e.t.c.
1.2 PURPOSE OF
THE STUDY
(a)
To analyze the role of banking industries
(b)
To example the need for industrialization
(c)
To trace the diversification of Economic
development
(d)
To have a look with export expansion and import
contraction
(e)
To stimulate of foreign exchange earrings and
international recognition.
(f)
To find the need for Banks involument in
industrialization.
(g)
To know the need to improve operational capacity.
(h)
To trace the major problems of industrialization in
Nigeria
(i)
To examine the provision of employment opportunity
1.3 STATEMENT
OF THE PROBLEMS
The
problems inherent in this study, which is the role of banks in the industrial
development of Nigeria,
can be listed under the following heading
a.
Operational problems and its effects on working capital
b.
Operational problems and its effects on working capital
c.
Level of manpower requirement
d.
Poverty
e.
Corruption and mismanagement of the Economy
f.
Political instability
g.
Inadequate use of Research findings
h.
The size of home market
1.4 SIGNIFICANCE OF THE STUDY
The study is of enormous importance to various
people of divergent walks of life.
Also
it is of great significance to the banks as it will enable to intensify their
innovated approaches to product diversification and realignment, human
resources management public relations and marketing as indispensable in
responding effectively to the challenges of the fast charging environment of
the banking industries.
1.5 LIMITATIONS
OF THE STUDY
The
understand fact are related to the limitation as, THE DIVERSIFICATION OF
ECONOMY.
The diversified economy which this study was carried out,
its submiss is quote considering the volume of industries in Nigeria Economy
which the writer notified that in fact the basic premise is that if a country
wishes to accelerate the overall rate of economic development she must have
manufacturing capabilities grater than the overall rate of growth of
G.N.P.
REFERENCES
I. ORJI J. Banking
operation in Nigeria IMT Enugu
1996
pg 206
2. ONYENKAUKWU .S Research comparative Banking system 1996
pg
15
3. CHIDI OZOCHI A simplified approach to Economics
2003 pg
105.
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