BANKS PARTICIPATION IN THE INDUSTRIAL DEVELOPMENT OF NIGERIA A CASE STUDY OF ENUGU STATE

ABSTRACT

This work aims to satisfy those who have interest in banks participation in the industrial development of Nigeria, especially the bankers throughout the world who are involved in financing industrialization process. For the purpose of the study, the researcher used the following methods in collecting data to enable her carryout an effective study. Related literatures were received, Primary and Secondary data such as oral interviews, news, newspapers, Journals, CBN Bullion were used.  These were not enough to supply the information needed and to that effect, the researcher made use of questionnaires, which she designed and distributed to the staff of banks that are currently participating in the industrial development of Nigeria and the general public to test hypothesis, using Chi-Square as a test techniques. From the questionnaire collected the researcher made these major findings: -That banks can participate extensively in financing of industria

l development in Nigeria.

3 That banks participation does not have any significant impact in industrial development in Nigeria.

4 That the rapid growing of banks has in some ways contributed to the industrialization process of the country.

TABLE OF CONTENT

Introduction

1.1       Statement of the problem & Purpose of Study

1.2       The rational of the study

1.3       Significant of the study

1.4       Background of the study

1.5       Definition of terms

2.1       Theoretical Review

2.2       Empirical Review

Hypothesis of the study, Research Tool And Procedure, Source of data and Limitation of study

1.1       Hypothesis of the study

1.2       Methodology of the study

1.3       Sources of data

1.4       Limitation of the study

CHAPTER FIVE

5.1       Summary

5.2       Conclusion

5.3A    Recommendation

5.3B    recommendation for future Scholars

BANKS PARTICIPATION IN THE INDUSTRIAL DEVELOPMENT OF NIGERIA

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 industrial development of a country; in fact the basic premise is that if a country wishes to accelerate the overall rate of industrial 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.