BANK PARTICIPATION IN INDUSTRIAL DEVELOPMENT IN NIGERIA
TABLE OF CONTENTS
Table of contents
1.1 Purpose of study
1.2 Significance of the study
1.3 Scope of the study
1.4 Limitation of the study
1.5 Definition of terms
2.0 The roles of banks in industrial development
2.1 The need for industrialization
2.2 The role of industrialization
2.3 The need of bank involvement in industrialization
2.4 The problem of industrialization and industrialist in Nigeria
3.0 Summary of findings, conclusion and recommendation
Nigeria has been a victim of a monopolist economy and has been enjoying the so called “PETRO NAIRA” since the oil boom in the early 70s without involving adequately in a sound policy that will keep the nation’s economy in a firm foundation for study growth. The effect was that the non-oil producing sector of the economy was abandoned and the hope to Nigeria’s sustainable economic growth and development was shattered with the monopolist economy she embraced.
Knowing this, an economy developing like Nigeria cannot afford to allow the industrial sector to fade away. Hence, it is pertinent that we explicably manifest how the role of banks can be employed to the development of these industries.
It has been proved beyond every reasonable doubts that industrialization is very crucial for a nation to survive. It (industrialization) ensures high quality and quantity of goods and services, provides employment to many people, both professionals and non professionals, skilled and unskilled labour.
The programme of industrial development bank and commercial banks in helping Nigerians will be brought into focus, the problems and challenges facing industrial development in Nigeria and the shortcomings of banks in providing the essential services to industrialization in Nigeria.
1.1 PURPOSE OF STUDY:
The purpose or the objective of these research work is to explicably manifest how bank contribute toward the development of industries in Nigeria through their participation, how the roles of banks can be employed to the development of industries in Nigeria. These objectives are:
i. Identification of the roles and need for industrialization.
ii. It also set out to establishing banks involvements in industrialization.
iii. Furthermore the problems of industrialization and industrialist in Nigeria.
iv. Finally, the research work aim at suggesting and recommending possible ways of improving the efficiency of the industrial development in Nigeria through the bank.
1.2 SIGNIFICANT OF THE STUDY:
The significant of this study is to create a great awareness of the participation of bank in the development of the economy and its effect on the economy is essential for all the economic units, industrials business organization etc.
The degree of industrialization indirectly show the stage an economy is in. For example, for industries to be worthwhile, the government has to set up institutions (banks) to fund potential investors.
The course of this study will also go a long way in addressing the issues of economic stability by the way of establishment of industries. Also to identify with and evaluate the adequacy of services rendered by banks as to ascertain the adequacy of industrialization in Nigeria.
1.3 SCOPE OF THE STUDY:
The scope of this research work will undertake the project work by making a case study of Enugu State where industrialization has helped to develop the state and as well her citizens.