The researcher intends to identify and
evaluate the services rendered by banks in Nigeria so as to ascertain the adequacy and efficiency of
these service to the industrial development of Nigeria of
otherwise to recommend appropriate steps to be taken by those banks in contributing its
quota in the industrialization process in Enugu
state and Nigeria as a whole.
To achieve this the researcher will undertake the project work by making a
case study of union bank of Nigeria Plc
Enugu main office.
In pursuances of this research the researcher
employee the use of primary and secondary data, oral interview and personal
observation will also be used.
Based on the primary and secondary data that
will be collected form union bank in Enugu state it will be observed that some
of the services rendered by these banks only
will exist in theory by providing answers to the research question that
will be in chapter one. In view of these findings, it will be recommended among
other things that these banks commercial
and merchant banks should be staffed with professional staffs. These
professional staffs will adhere strictly to the modalities worked out by the
federal ministry of finance and central
bank of Nigeria (CBN) to prevent any bank distress and failures.
On the other hand, the researcher recommends
that the industrialist should be realistic when preparing their estimates and
values of project they intend to executive, and they should give time figure of
their financial statement and make sure that the funds or loan that
will be extended to them will not be diverted to private ventures.
It will be the belief of the researcher that
if all these recommendation are strictly herd to and is implemented, the
problems military against the industrial development of our country will be
reduced if not totally eliminated.
BACKGROUND OF STUDY
A country wealth development and advancement
by its level of industrialization, a country becomes famous among other
countries of the world when it has been able to attain to a remarkable degree
in industrialization. In view of the above we have deemed it necessary to
embark on a research project on “Banks participation in industrial development
of Nigeria. This is an attempt and effort to draw the mind of every Nigeria to
ask himself certain silent questions like.
STATEMENT OF PROBLEM
How far has our country advanced in
What are the things necessary for the
industrial development of our country?
Why have certain financial bodies not
participated fully in the exercise?
If we are able to give answer to these
question and if we are able to identify the problem I encountered in the
process and also to give solutions to these problem both collectively and
individual then, there is hope that within a short time. Our country Nigeria
will be able to develop ten times more than it has done in the long past.
A developing country as Nigeria is
characterized by a high degree of subsistence products with very limited application
of technology. As a result manufacturing industries are relatively low and the
agro- based industries are paramount.
Industrialization should apply to all sector
of an economy implying the application of science and technology to raise the
worker, in other words all sectors of the economy (mining, agriculture,
manufacturing, industries, commercial service should advance.
OBJECTIVE OF THE STUDY
Industrialization means the development of
industries, applying science and technology in order to provide work for the
growing population and raise the standard of living by increasing per capital
net income and improve balance, of payment situation. Industrialization is
aimed at impact restriction and increasing export.
For our country to attain any degree of
industrialization, it must overcome a series of obstacles and difficulties
because it has had its development plans disrupted by series of military
interventions and civil war. It should be noted that there is no limit to the
degree of development a country can attain if and only if its reserves are full
y utilized. Whether our country is developed or not depends on the existing
level of wealth and material welt are. The measure of development of any
country is based on its per capital income. That is dividing net national
income by the total population to get capital income.
Nigeria has high rate of population increase
but has land still available for agriculture expansion. Its per capital income
are as a result of its chronic under-utilization of resources rather than
substantial utilization. Although Nigeria is now spending on industrial
projects, the stage of industrial development is still at its lower level.
Nigeria is still developing and so it is per both in income and in capital and
its resources are not yet fully tapped. It is therefore most patient to state
at the juncture that for nations resources to be fully utilized the aid of
science and technology must be sought.
There are three major things that requirement
to achieve success in any venture in
life viz time interest and money. Behind every successful business