PROPOSAL
Industrialization is synonymous with the production of goods and
services. For the benefit of this work, on industry could be defined as
the sum total of firms producing a particular commodity. Commodity here
includes both goods and services, thus, we have the banking industry, the food
processing industry, the sugar processing industry, the tobacco manufacturing
industry etc. Therefore, industrialization is the act of establishing
different types of industries in the country for the purpose of stablishing the
Nation’s economy and ultimately improving the standard of living of its
citizens.
Industrialization has
been proved beyond doubts as very important for a nation’s survival therefore
it is pertinent that we explicably manifest how the role of Banks can be
employed for the development of these industries.
The role of Banks in industrial development of Nigeria could be seen through
the various services which these banks provide for the sustainance of
industrialization in the country. These services may include, the
provision of capital for these industries in the form of term loans such as
short term, medium and long-term loans which the industries could use to
finance fixed assets. Also the bank provides overdraft facilities which
are necessary to finance the working capital of the business.
Apart from granting
loans and overdraft facilities, there are other roles which banks could play in
the industrial development of Nigeria. These roles which include
professional advice, leasing and factoring, also extend into invoice
discounting, hire purchase, bill discounting services and above all the
determination of the actual external funds required by a borrower. These
are excepts of such services which help industrialization grow or expand.
The irrational problem
of manpower requirement and the poor industrial knowledge of these
industrialists help to compound the general problems of industrial development
of which bank services can be gainfully employed for the purpose of solving
them.
In all, these problems should be totally exterminated to ensure the steady
growth of this all important sector of the economy.
The level of Banks
industrial financing has been very poor. In increasing this level of
financing, emphasis should be placed on medium and long-term loans so as to
enable these industries concretize their investments for better results in the
form of outputs.
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE
STUDY
1.2 STATEMENT
OF THE
PROBLEM
1.3 OBJECTIVES
OF THE
STUDY
1.4 SIGNIFICANCE
OF THE
STUDY
1.5 LIMITATIONS
OF THE
STUDY
CHAPTER TWO
REVIEW OF RELATED
LITERATURE
2.1 ROLE
OF BANKS IN INDUSTRIAL DEVELOPMENT
2.2 THE
NEED FOR BANKS INVOLVEMENT IN
INDUSTRIALIZATION
2.3 THE
LEVEL OF BANKS INDUSTRIAL FINANCING
CHAPTER THREE
RESEARCH DESIGN AND
METHODOLOGY
3.1 SOURCES
OF
DATA
3.2 LOCATION
OF
DATA
3.3 METHODS
OF DATA COLLECTION
CHAPTER FOUR
FINDINGS
CHAPTER FIVE
RECOMMENDATION AND
CONCLUSION
BIBLIOGRAPHY
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
Nigeria since the oil boom in the early 70’s has been a victim of a monolithic
economy and since then has been enjoying the so called ‘Petro Naira’ without
adequately evolving a sound policy that will keep the nation’s economy in a
firm foundation for steady growth. Though the country recognized the
importance of Industrialization as far back as 1964, yet when the ‘Petro Naira’
started flowing in, they were blindfolded as to ignore the importance of
establishing industries to ensure a diversified economy. Now the ‘Petro
Naira’ is no more, and the future outlook is bleak, the need for a diversified
economy became the subject matter of many governmental policies and
actions. This leads us to one of the ways for solving this problem and
that is industrialization.
Apart from ensuring a diversified economy, industrialization also accelerates
the economic development of a country; infact the basic premise is that if a
country wishes to accelerate the overall rate of economic development, the
country must have manufacturing production rising much faster than the overall
rate of growth of the G.N.P. and this has to be reflected in an increasingly
dominating role of manufacturing industry in the total economy.
Also, industrialization
ensures export expansion and import contraction coupled with the fact that it
stimulates foreign exchange earnings, international recognition and the
provision of employment opportunities for the teeming population.
1.2
STATEMENT OF THE PROBLEM
Banks supposed to have contributed immensely to the industrial development of
Nigeria in various aspects. But the unawareness of the industrialists on
the role of banks in industrial development pose a serious problem to the
industrial development of Nigeria. The number of industrialists that make
use of the services of the banks in their various firms is limited.
Again, most industrialists are not aware of the duties and responsibilities of
the banks in the overall growth of their firms. The poor industrial
knowledge of these industrialists help to compound the general problems of
industrial development of which bank services can be gainfully employed for the
purpose of solving them.
It has been noticed that
the level of banks industrial financing has been very poor compared with what
is obtain in industrialized nations.
This study will analyse in details the role of banks in industrial development
of Nigeria.
1.3
OBJECTIVE OF THE STUDY
For a meaningful and adequate performance of banks to be achieved in industrial
development of Nigeia. The researcher is set to achieve the following
objectives:
i. To
ascertain the need for Banks involvement in industrialization.
ii. To
point out the roles of banks in industrial development.
iii. To
evaluate the level of banks industrial financing in Nigeria
iv. To
make recommendations based on the findings of the study.
1.4
SIGNIFICANCE OF THE STUDY
The study stressed that to achieve a meaningful industrial development,
emphasis must be placed, on industrisation which is an aspect of economic
diversification. The country is most likely to benefit from this study as
follows:
i. Apart
from ensuring a diversified economy, industrialization also accelerates the
economic development of the country.
ii. Industrialization
ensures export expansion and import contraction and also stimulates foreign
exchange earnings, international recognition and provision of employment
opportunities for the citizens.
iii. Industrialization
helps in stablishing the Nation’s economy and ultimately improves the standard
of living of the citizens.
Department | Banking and Finance |
Project ID Code | BFN0099 |
Chapters | 5 Chapters |
No of Pages | 42 pages |
Methodology | Descriptive |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |