EVALUATION OF THE ACTIVITIES OF THE ORGANISED PRIVATE SECTOR IN THE DEVELOPMENT OF ENUGU STATE (A CASE STUDY OF – ECCIMA & NASSI)
This work is a study of the Evaluation of the activities of the organized private sector in the development of Enugu State with the particular focus on Enugu Chamber of commerce Industry. Mine and agriculture *ECCIMA) and National Association of Small Scale Industries (NASSI). This is because ECCIMA and NASSI has a vital role to play in the effective coordination of both private and public sector. To assertion the contributions of ECCIMA and NASSI in economic development of Enugu state structured and unstructured questionnaires was designed validated and administered to 122 respondent of ECCIMA and NASSI respondents of ECCIMA and NASSI’s staff the data collected were analysed and interpreted using tables in simple percentages. Based on the study, the analysis of data gathered reviewed that ECCIMA and NASSI has done much to motivate companies to establish their business in Enugu state. They have done these through companies and creating awareness among investors and general public. This is to enhance the economic potential hampered by the insufficient infrastructural facilities in the state. Based on findings, the researcher recommended that government should place emphasis on the provision of infrastructural facilities that will attract both foreign and local enterprise. It also recommended that ECCIMA and NASSI should embark on more vigorous marketing communication exercise to create the much needed awareness of it’s activities which requires that government must include it’s annual budget as substantial allocation to enhance the activities of ECCIMA and NASSI.
1.1 BACKGROUND OF THE STUDY
According to Jenny (1982), Organisd private sector is the one whose activities and operations are not determined through they may be directly influenced by government activities. It may be manufacturing, Agriculture, mining, commerce, and services.
Mohammed (2003) sees organized private sector as the same with the government parastatals corporations. They corporate existence, they can sue and be sued, they register in the Nigeria labour congress. Their shares are quoted in the Nigeria stock exchange.
Bamiduro (2002) said that organized private sector are public liability company (Plc) which the activities are registered in the Nigeria labour congress and whose shares are quoted in the Nigeria stock exchange.
Edobanya (2003) observed that public corporations can become organized sector only by privatization while organized private sector can become public corporation by nationalization.
Apolos (1999) says that the only difference between public companies and organized private sector is that it was registered by Act. The public companies has government as it’s only owner while the organized private sector has private persons as it’s owners.
Orji (2000) noted that what makes private sector organized is that operations of the enterprises are organized in a way that government can recognize them. The other private sector units are very numerous by unregistered or registered companies whose shares are not quotable in the Nigeria stock exchange.
Todaro (1982) noted that of an economy whose activities are under the control and direction of non-governmental economic units such as a households are the ultimate suppliers of the economy’s inputs of human resources and the major purchasers of it’s outputs of goods and services. Business units or farms comprising farmers professionals, traders etc. are the second major group within the system. It is also noted from the above definition that any economy outside the control of government circles are said to be private sector.
The private sector are established by two to fifty people who buy shares in the organization. It’s shares are not allowed to be subscribed publicly. Also members of the sector cannot transfer their shares to each other without the consent of other members.
Private sector is also a sole proprietorship that forms the business, organize and make decision alone, taking all generated profits as his reward and bearing all the risk and losses associated with the business without involving the government.
They also put all that is needed efficiency, effort, attention, extra time to make the business succeed. It is a business that has a minimum number of two and maximum number of twenty persons. They come together and with a combination of their resources establish and run a business organization. Contributions and sharing of profit are based on the agreement reached.
The private sector encompasses all non-profit businesses that are not owned or operated by the government. In most free market economic, the private sector is the sector where most job are held. Private sector get their initial or subsequent, from personal savings, contributions or issue and sale of shares to members of the public private sector pay taxes individual and corporate taxes to the government and contribute to other social needs of the people.
The earning of private sector is taken by the individual owners or share by the co-owners or distributed as dividend to share holders in an agreed manner or reinvested in the business.
Economic development of Enugu State.
The extent to which trade fair complex houses it’s corporate office will measure up to the international standard.
The conflict of interest between (NASSI) National Association of Small Scale Industries and (ECCIMA) Enugu chamber of commerce, industries, mine and Agriculture arising from members who registered for implementation of their programme of development.
Whether the organized private sector have achieved the economic objectives for which they where set to purchase is the problem confronting this study.
1.2 OBJECTIVES OF THE STUDY
1) To ascertain the objectives of ECCIMA
2) Finances or sources problem affecting NASSI like finance or sources of raw materials for their production
3) To determine the activities of ECCIMA with respect to the create an avenue for NASSI to communication to government, financial institutions and other important organizations the problems of small seals industrialists with the aim of requesting for necessary assistance from them.
4) To ascertain the factors that impinge on ECCIMA the effort forwards facilitating economic development.
5) To promote business education programmes through organized seminars, trade fairs, debates and pother relevant media.
1.3 PURPOSE OF THE STUDY
Sequal to the above stated background of the study and statement of the problems, the researcher shall seek to critically examine the problems of Enugu Chamber of commerce, industries, mines and Agriculture, and National Association of Small Scale Industries and to appraise it’s impacts on the economy of the state.
The objectives are stated here in view of the literature review that will be reported in the next chapter. Specifically, it is the objectives of this study to ascertain the following.
1.4 RESEARCH QUESTIONS
1. What are the roles of Enugu chamber of commerce industry mines and Agriculture and National Association of small scale industries towards economic development?
2. What are the objective of Enugu chamber of commerce and industry mine and Agriculture and National Association of small scale industry?
3. To which extent has Enugu chamber of commerce and industry mines and Agriculture and National Association of small scale contributed in enhancing the economic development of Enugu state.
4. What are the various activities of ECCIM and NASSI in respect to the conduct of trade fairs?
5. what are the factors that impinge on ECCIM and NASSI the effort towards affiliating economic development
1.5 SIGNIFICANCE OF THE STUDY
At the completion of this study, the following will benefit ECCIMA will find out their strength and weakness of the establishment.
Government will help in evaluating the problems facing trade fairs in the country and find possible solutions.
It will further be a research area for students in carrying on research.
General public also benefited from this study.
1.6 SCOPE OF THE STUDY
This study covers Enugu Chambers of commerce industry, Mines and Agriculture and National Association of small seals industries as parts of the organized private sectors; in the development of Enugu state.
1.7 LIMITATIONS OF THE STUDY
The limitation of the study of the research work is as follows;
1. Non- availability of material
2. Lack of finance
NON-AVAILABILITY OF MATERIAL: because some of the materials needed in caring out this study is not enough, so it becomes a problem to the researcher
LACK OF FINANCE: Due to inadequate finance, the researcher could not carryout the research work.
TIME: There was insufficient time to carryout research because of the short semester.
More over, Access was not of the given to the researcher to read through most of the sensitive documents and official files. Another limitation was the inability for some of the workers to permit face to face interview. Incase of losing their job. One of the major limitation is that some. Information were denied from the researcher which was regarded as “private and official secret” Ever through the authorities understood the research” work as purely Academic.
1.8 DEFINITION OF TERMS
Certain terminologies which is strange to the layman and can ever prevent him or her from understanding this study were used in this course of study.
Therefore, to prevent this problem of miss understanding the following terms were defined in this study to facilitate the readers work.
DISSEMINATION: The is used as a medium to spread news, deals, beliefs etc. widely.
METROPOLIS: chambers universal dictionary defines metropolis as a large city usually the chief city of state there in zing referred to as Enugu capital city overcrowding is a problem in our metropolis due to rural-urban migration.
SIZE: This refers to the proportion of the population which has seen choose as a representative of the
INFLATION: A situation in a country’s economic where process an ways keep forcing each other to increase.
SURCHARGE: An extra amount of money charged
INVESTMENT: To put money into a firm or business or buying of shares in it order to make profit.
STRATIFIED SAMPLING: This is the method applied when the population we are sampling in heterogeneous.
SAMPLE SIZE: This refers to the proportion of the population which has been choosen as representatives of the universe.
COMMERCE: The exchange of goods between nation or people trading or a large scale.
PAVILLION: A building next to a sports ground used by players and spectators. It is also a temporary building especially a large extent used to items at an exhibition.
FAIRS: Large scale exhibition of goods from different countries, firms etc. which are sold at a relatively low price ie trade fair.
IMPINGE: To have a noticeable effect o something especially a bad the
PROPAGATE: To spread an idea, a belief, or a piece of information among many people
SEQUEL: This is a company or agency owed or controlled wholly or partly by the government.
ECONOMY: The relationship between production, trade and the supply of money in a particular country or region.
PRIVATE: Owned or managed by an individual person or an independent company rather than the state.
SECTOR: A part of an activities especially of a country’s economy.
ORGANIZE: To form a group of people with a shared aim especially a union or political party.