This research was embarked upon to gain institute into growth of indigenous
firms in Nigeria. This is specifically an attempt to investigate
the impart of indigenous firms among others. The objective are not
only to acquaint equitable growth for indigenous firm and also to cheek the
problems and prospects and to equally highlight its relevance among indigenous firms
review of relaxed literature and theoretical framework also is arranged in
logical sequence for the purposed of this study secondary sources, this data
was analyzed using simple percentage and chi square. The researcher
also found out that the growth of indigenous firms also affects the
scope-economic growth of our economy. It is clear to note that
indigenous firms have create impact on the country economy through export
promotion financial institution and industrialization development strategies.
Finally, the summary of findings conclusion and recommendation where not left
out, they are expected to serve as a basis for further researchers.
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.1 General Background to the Subject matter
1.2 Problem Associated with the Subject Matter
1.3 Problem(s) that the Subject will be Concerned
1.4 The Importance of Studying the Area
1.5 Definition of important Terms
1.6 Reference (using APA Method0
CHAPTER TWO: LITERATURE REVIEW
2.1 The Origin of the Subject Area
2.2 School of Thought within the Subject Area
2.3 The School of Through Relevant to the Problem of
2.4 Different method of Studying the Problem
3.1 Data Presentation (high light of the study)
3.2 Analysis of the Data
1.1 GENERAL BACKGROUND TO THE SUBJECT MATTER
One of the major economic backwardness of the most third world
countries like Nigeria is the over prolonged sojourn of private foreign
divestment in them. The predatory exploitative orientation
and activities of foreign monopoly capital, it inherent tendency to resist and
hamper local industrialization and to perpetuate merchanitte capitalism and its
determination and deliberate efforts to retard the growth of endogamous
entrepreneurship all this have heavily influenced Nigeria economic history for
well over a century.
This foreign dominance of commercial activities in Nigeria was
made possible by restrictive practices employed by the established merchant
firms. It is important to note that commercial banking is a major source
of credit (capital) was solely owned and controlled by foreign
elements. Their policies were made towards satisfying the needs of
foreign enterprise, indigenous entrepreneurs merely subjected on the crumbs
that fell on the gable.
(Ezeigwe .J. O) Nigerian government in the 1950s operated mainly
an open door policy which attempted to live foreign investors into the country.
After the civil war, experiences showed that the issue of
indigenous participation in the Nigerian economy once can be
re-opened. The dubious role played by foreign investors at various
stages of the civil war and the acute shortage of essential commodities at the
same period and the spirally inflationary trend that followed post war
reconstruction and rehabilitation programmes had contributed to inform the
government that there was the necessity to allow the indigenes of Nigeria and
government a hand in deciding their economic fortune. The
government was further persuaded by radical agitation of the politician s and
the masses to do something about their economic difficulties.
With these pressures and economic difficulties mounting higher and
higher, the government decided to whittle down foreign dominance of the economy
on 23rdFebruary 1972, the military
government promulgated the Nigeria enterprise promotion Decree No. 4 of 1977
popularly known as the indigenization decree the following were the objectives.
a) To create opportunity for our people
b) To raise the proportion of indigenous firms and
ownership of the productive sectors of the economy.
c) To maximize local retention of profit
d) To involve more Nigerians in the management and
decision making process of business enterprises. All in an effort
to enhance indigenous growth of Nigeria firms.
1.2 PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER
A number of problems have been identified as being responsible for
the backwardness and retardation in the general growth of Nigeria indigenous
firms the persistent set back in the growth of the indigenous firms have been
assumed to center on the followings: Inadequacy of capital, poor
technological manpower deficiency, mass illiteracy, management incapability and
marketing in competency (National and internationally) etc there are many more
that form the cove problems of the growth of our indigenous firms.
It is the intention of the researcher therefore to take a critical
examination of the internal and external factors affecting the growth of our
There is a general contention that the rate of growth of our
indigenous firms, especially since the pushing aside of the aliens, has been
sow. This statement in the growth of indigenous firms in Nigeria,
problems and prospects will be investigated and possible recommendation given
as to the solutions.
1.3 PROBLEMS THAT THE STUDY WILL BE CONCERNED WITH
A lot of obstacles and limitation were encountered by the
researcher during the course of this work. Some of these problems
are personal handicaps of the research such as time constraints and money,
others are general or societal belief that the activities of their firms remain
secret this is why respondents refused to give the researcher maximum
co-operation on the question given and interview conducted.
On personal handicap, the problem of transport fore drastically
reduced the sample size of the number of firms covered. However,
some efforts were made to cover some reasonable number of firms.
Time constraint did not allow me to cover all the places mapped out for study.
Lack of co-operation from respondents was a very serious problem
and disturbing case in the study, the bureaucracy involved before an
information could be supplied in some organization is cumbersome and costly
that not every researcher can hold to the patience. Some of these
respondents misplaced questionnaire given to them while others returned theirs
Many of the literature fill short of the vital information as
required especially as its currently the activities and growth of the Nigeria
firms. These and many more others were the factors militated
against this study.
1.4 THE IMPORTANCE OF STUDY
The researcher will pinpoint the capital requirement of the growth vitiating
factor which at times have been typically believe to be very small.
Therefore the significance of this study is as follows:
1) To identify the
problems that are being faced by indigenous firms in Nigeria.
2) To render
possible solutions to the problems for use by the indigenous firms managers in
3) To examine the
attains of some public establishments and the activities of their officers in
terms of investment, capital formation and cost control.
4) To letter the
future of Nigeria viesli export or self-reliance.
5) To existing
firms were viable.
6) To economy of
Nigeria was bitter managed in the hands of the foreigners than now that it is
managed by Nigerian.
1.5 DEFINITIONS OF IMPORTANT
Means the sole right to trade on a particular goods or services.
CAPITAL: This means wealth or
property that can be placed to produce more wealth.
INVESTORS: it means group of persons or
organizations that invest a business venture.
The production principles and distribution of goods and services and the
development of wealth.
INFLATIONARY: This means the persistent and
continuous rise in prices and wages caused by increase in money supply and
demand for goods and resulting in a fall in the value of money.
Means business company or an organization.
Person involve in trade or commerce.
SECTORS: that parts or branch of a
particular area of activity especially of a country’s economy.
TERMS AND CONDITIONS APPLY
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