EVALUATING THE GROWTH CHALLENGES OF INDIGENOUS COMPANIES IN NIGERIA


EVALUATING THE GROWTH CHALLENGES OF INDIGENOUS COMPANIES IN NIGERIA

                    ABSTRACT:          

The study evaluates the growth challenges of indigenouscompanies in Nigeria, This study was undertaken majorly to identify the growth challenges being faced by indigenous firms in Nigeria. Specific objectives of the study are: To render possible solutions to the challenges for use by the indigenous company managers in Nigeria, To examine the contributions of some government establishments and the activities of their officers in terms of investment, capital formation and cost control.

Concerning methodology for this study, Data for this study was collected from the respondents through the use of questionnaires. Other information was collected from text books, journals and other secondary sources of data.The research design used for this study was the descriptive research design.The researcher discarded other alternatives such as the causal and explanatory research designs, because accurate findings and data analysis may not be achieved.

Various analytical tools and software such as pie charts, bar charts, tables, and Statistical Package for Social Science (SPSS) software were used in analyzing data for this study.

Data collected were analyzed using frequencies and percentages. The population for this study is employees of Ibom Power Plant, IkotAbasi. The population figure for the study was 40 respondents, comprising of management staff, middle line managers and junior staff of the company from various departments such as operations, finance, administration etc.  Since the population for the study was not large, and data could be collected from all the respondents, the researcher adopted the census sampling technique to successfully complete the study. All 40 respondents were used for this study.

Findings from this study revealed that indigenous companies are either discriminated against or cannot access funds at the credit market.

The study will help pin point the various growth challenges of indigenous companies in Nigeria as well as solutions to these challenges

TABLE OF CONTENTS

Title Page    -    -    -    -    -    -    -    -    -    i

Approval Page    -    -    -    -    -    -    -    -    ii

Declaration    -    -    -    -    -    -    -    -    iii

Dedication    -    -    -    -    -    -    -    -    -    iv

Acknowledgement    -    -    -    -    -    -    -    v

Abstract    -    -    -    -    -    -    -    -    -    vi

Table of Contents    -    -    -    -    -    -    -    vii

CHAPTER ONE – INTRODUCTION

1.1    Background of the Study    -    -    -    -    -   

1.2    Statement of General Problem    -    -    -    -   

1.3    Objective of the Study    -    -    -    -    -    -   

1.4    Research Questions    -    -    -    -    -    -   

1.5    Hypothesis   -      -      -      -      -      -      -        -        -        

1.6    Significance of the Study    -    -    -    -    -   

1.7    Scope of the Study    -    -    -    -    -    -   

1.8    Definition of Terms    -    -    -    -    -    -   

CHAPTER TWO – REVIEW OF RELATED LITERATURE

2.1    Introduction    -    -    -    -    -    -    -    -    -

2.2    Brief on the emergence of indigenous companies in Nigeria     -    -    -    -    -    -    -    -          -    -    -    -   

2.3    Challenges of indigenous companies in Nigeria    -    -    -    -    -    -    -    -    -         -    -    -    -    -    -   

2.4 The role of the government in promoting the growth of indigenous companies in Nigeria      -    -    -    -    -    -   

2.5    Current initiatives for improving the enabling environment of indigenous companies.     -    -    -    -    -    -    -    -   

2.6    Impact of indigenous companies on economic development in Nigeria      -    -    -    -    -    -    -    -    -          -    -   

2.7    Theoretical framework      -    -    -    -    -    -    -   

2.3    Theoretical bases for the study      -    -    -    -    -    -   

2.9 Chapter summary       -    -    -    -    -    -    -    -   

CHAPTER THREE – RESEARCH METHODOLOGY

3.1    Introduction    -    -    -    -    -    -    -    -    -

3.2    Research Design    -    -    -    -    -    -    -    -

3.3    Area of the Study    -    -    -    -    -    -    -    -

3.4    Population of Study    -    -    -    -    -    -    -    -

3.5    Sample size and Sampling Techniques    -    -    -    -    -

3.6    Instrument for Data Collection    -    -    -    -    -    -

3.7    Validity of the Instrument    -    -    -    -    -    -    -

3.8    Reliability of the Instrument    -    -    -    -    -    -

3.9    Method of Data Collection    -    -    -    -    -    -    -

3.10    Method of Data Analysis    -    -    -    -    -    -    -

CHAPTER FOUR – DATA PRESENTATION AND ANALYSIS

4.0    Introduction    -    -    -    -    -    -    -    -    -

4.1    Data Presentation and Analysis    -    -    -    -    -    -

4.2    Characteristics of the Respondents    -    -    -    -    -

4.3    Data Analysis    -    -    -    -    -    -    -    -    -

4.4    Testing Hypothesis    -    -    -    -    -    -    -    -

4.5    Summary of Findings    -    -    -    -    -    -    -    -

4.6    Discussion of Findings    -    -    -    -    -    -    -

CHAPTER FIVE – SUMMARY, CONCLUSION AND RECOMMENDATION

5.0    Introduction    -    -    -    -    -    -    -    -    -

5.1    Summary    -    -    -    -    -    -    -    -    -    -

5.2    Conclusion    -    -    -    -    -    -    -    -    -    -

5.3    Recommendations    -    -    -    -    -    -    -    -

    References -    -    -    -    -    -    -    -    -    -

Appendix    -    -    -    -    -    -    -    -    -    -

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

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 merchant 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 programs 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.

⦁    To create opportunity for our people.

⦁    To raise the proportion of indigenous firms and ownership ofthe productive sectors of the economy.

⦁    To maximize local retention of profit.

⦁    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    STATEMENT OF PROBLEM

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 indigenous firms.

There is a general contention that the rate of growth of our indigenous firms, especially since the pushing aside of the aliens, has been slow.   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    RESEARCH QUESTIONS

1. What are the growth challenges faced by indigenous companies in Nigeria?

2. How can the growth challenges facing indigenous companies in Nigeria be properly addressed?

3. What contributions have government establishments made towards the growth of indigenous companies in Nigeria?

1.4    OBJECTIVES OF THE STUDY

The main aim of the study is to evaluate the challenges associated with the growth rate of indigenous companies in Nigeria. The specific objectives of the study are:

1)    To identify the growth challenges being faced by indigenous firms in Nigeria.

2)    To render possible solutions to the challenges for use by the indigenous company managers in Nigeria.

3)    To examine the contributions of some government establishments and the activities of their officers in terms of investment, capital formation and cost control.

1.5    SIGNIFICANCE OF THE STUDY

The study will help pin point the various growth challenges of indigenous companies in Nigeria as well as solutions to these challenges. Findings and recommendations from the study will enable company managers and the government to rally together and develop better policies that will encourage our Nigerian owned companies to grow. The study will also bring out strategies and techniques that can be adopted by indigenous companies in Nigeria to beat foreign owned firms and survive competition.

1.6    SCOPE AND LIMITATION OF THE STUDY

The study is limited to the growth challenges of indigenous companies in Nigeria, using Ibom Power Plant, IkotAbasi as a case study. Findings and recommendations from the study may not be used to generalize all indigenous companies in Nigeria as the researcher could not reach out to more indigenous companies in Nigeria due to time and financial constraints.

The only limitation faced by the researcher in the course of carrying out this study was the delay in getting data from the various respondents. Most respondents were reluctant in filling questionnaires administered to them due to their busy schedules and nature of their work. The researcher found it difficult to collect responses from the various respondents, and this almost hampered the success of this study.

1.7    STATEMENT OF HYPOTHESES

Hypothesis 1

Ho:    Lack of sufficient capital and poor financial management does             not hinder the growth of indigenous firms in Nigerian.

Hi:    Lack of sufficient capital and poor financial management         hinders the growth of indigenous firms in Nigeria.

Hypothesis 2

Ho:    Marketing of products is not a major problem facing         indigenous firms in Nigeria.

Hi:    Marketing a product is a major problem facing indigenous firms in Nigeria.

1.8    DEFINITION OF TERMS

MONOPOLY:    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.

ECONOMICS:    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.

FIRM:    Is a business company or an organization.

MERCHANT:    Person involve in trade or commerce.

SECTORS:    that parts or branch of a particular area of activity especially of a country’s economy.

.

EVALUATING THE GROWTH CHALLENGES OF INDIGENOUS COMPANIES IN NIGERIA



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.NET

Researchwap.net is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.net guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.net is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.net" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.