THE ECONOMIC EFFECT OF FUEL SCARCITY IN NIGERIA

(A CASE STUDY OF ENUGU METROPOLIS)

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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ABSTRACT

 

This research is based on the economic effects of fuel scarcity in Nigeria.  The research was carried out to find out the extent to which the entire population in Enugu metropolis has suffered due to fuel scarcity.

The population used for this study is the workers of NNPPC, car owners, businessmen and women and the entire population of Enugu metropolis.

The researcher used primary and secondary data which comprised of interviews and questionnaire to get information.

From the data analysis, the researcher came up with the following findings:

1. The middlemen contribute to fuel scarcity
2. Transportation became high because of fuel scarcity
3. Fuel scarcity has led to rise in price of products in the market.

Based on the findings, the researcher recommends that:

1. The government should hurry up with the maintenance of the broken down refineries in order to ease the problem of fuel scarcity.
2. Pipelines that led to the various depots should be checked regularly for any possibility of leakage.

iii.      In order to avoid fuel scarcity, escorts should be assigned to each tanker driver to avoid diverting of fuel to unapproved areas.

1. they should provide storage facilities so that even if brake down occur, there will still be available fuel to distribute to their various consumers.
2. If fuel are being supplied to filling station owners, they should be checked to make sure that the fuel are sold to the consumers to avoid hoarding.
3. There should be a check by government to the seller of fuel to make sure that fuel are been soled to consumer at a government pump price.

 

 

 

 

 

 

 

 

          TABLE OF CONTENT

 

CHAPTER ONE

• introduction

1.1     An Overview of the study

• statement of problem
• Objectives of study
• Statement of hypotheses
• Significant of the study
• Scope of study
• Limitation of study
• Definition of terms

References

 

CHAPTER TWO

• Review of related literature

2.1     History of oil industry in Nigeria (NNPC)

• Nigerian’s Development and oil industry
• Contribution of the petroleum industry to Nigerian’s economic development (positive and Negative effect).
• Function/Role of Nigerian national petroleum corporations (NNPC)
• NNPC and distribution of fuel in Nigeria
• Problems of fuel distribution in Nigeria
• Economic effect of fuel scarcity in Nigeria
• The role of task-force on the management of fuel scarcity
• Scarcity of other essential commodities and its effect.

Reference

 

CHAPTER THREE

3.0     Research design and methodology

3.1     Source of data collection

• Primary source
• Secondary source

3.2     Area of study

3.3     Population of study

3.4     Sample size determination

3.5     Instrument of data collection

3.6     Distribution of data collection Instrument

3.7     Method of Analyses of data

Reference

 

CHAPTER FOUR

4.0     Data presentation and Analyses

• Presentation and analyses
• Data analyses
• Test of hypotheses
• Questionnaires

 

CHAPTER FIVE

• Summary of findings, conclusion and recommendation

5.1     findings’

Conclusion

Recommendation

Reference

Bibliography

Appendix (Questionnaires)

 

 

 

 

 

 

 

 

LIST OF TABLES

 

1. Number of questionnaires distributed and number of responses received.
2. Responses received with regards to whether the middlemen have been contributing to fuel scarcity.

CHAPTER ONE

 

• INTRODUCTION

1.1                         AN OVERVIEW OF THE STUDY

In the past Nigerians solely depended on the exportation of agricultural product for their source of income,.  This continued until the discovery of the presences of the presence of oil in our country, especially in part Harcourt. This made them (Nigerians) to divert form Agriculture to the exportation of oil to other countries, which was actually fetching them much money even till this present time.

There are many subsidiary oil companies scattered all over the country but the biggest among them is in port-Harcourt and it is called the Nigerian National Petroleum Company (NNPC). It is from here that crude oil is extracted from the ground refined to get those components like fuel, kerosene and gas.

There are depots scattered all over the country like shell Port-Harcourt, NNPC Enugu, Eif oil Company, Warri Pipeline are directed towards these oil companies to facilitate distribution.  Tanker drivers and other dealers will load form the depot and distribute to filling stations, then the consumers will buy form the filling stations.

Fuel supply has been moving smoothly in the country before the announcement of the budget by the head of state in January last four year 1999. it was in February 1999 that the whole issue of fuel scarcity started.  This has made it difficult for the government to accomplish that which it proposed to do I the budget.

 

• STATEMENT OF THE PROBLEM

The word “Scarcity” means when there is insufficiency of something.  Since there is insufficiency of fuel it is termed as fuel scarcity.

In the past, there has not been any services fuel scarcity, everything was moving smoothly, the industrialist both public and privates, does not have any problem.  Economically the price of goods and services, were affordable by the people. Car owners can just go to filing station and buy fuel at a normal price of N22.00 per liter and with much ease.

Things were moving smoothly in the country and in this part f Enugu metropolis until 1994 when we had one case of fuel scarcity not until on up till this movement of this study.

Because of fuel scarcity, people are so desperate to by fuel for their business. For this reasons, whenever any information was passes concerning the presence of fuel in any filling station, car owners will go there and que -up. Some of them will have to sleep in the filling stations a day or more than two days while waiting for their turn.  People or car owners when they cannot buy fuel in any filling station, are forced to buy from the black market at an exhobitant price.  Some people use big gallons to buy fuel that will serve them for some days.

For the reason that there is insufficient fuel in the filling station, makes people sell fuel in ration so that everybody present will buy.  The car owners who think the fuel will not reach tem will start jumping the que, thereby causing fights among themselves.

 

CAPITAL MARKET IN NIGERIAN’S ECONOMIC DEVELOPMENT

 

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ABSTRACT 

Nigeria has gradually come of age in terms of financial institutions, which make up the system.  This is seen for the wide spread establishment of many financial institutions. Meanwhile, way through which capital market as the complex of institution and mechanize by which intermediate and long term funds are pooled and made available to business, government and individuals and instrument already outstanding are being treated which in turn enhance economic boast are highlighted in this piece of work. The various problem encountered by individuals and firm aid of course the government in actualizing the object of this study are exhaustively treated. 5000 OR $30 FOR COMPLETE MATERIAL BUY NOW

 

TABLE OF CONTENTS

CHAPTER ONE

1.0            Introduction

1.1     Background of the study

1.2     Statement of the problem

1.3     Objectives of the study

1.4     Purpose of the study

1.5     Significance of the study

1.6     Scope of the study

1.7     Limitation/Delimitation of the study

1.8     Definition of terms

References

 

CHAPTER TWO

2.0            Literature Review

2.1     The Historical evolution and development of capital marketed

2.2     Scale of listing fees

2.3     Source of data

2.4     Location of data

2.5     Method of investigation

References

 

CHAPTER THREE:

3.0            Summary of findings

3.1     Discussion of findings

3.2     Conclusion

3.3     Recommendation

Bibliography

 

 

CHAPTER ONE

1.0            INTRODUCTION

 

1.1     BACKGROUND OF THE STUDY:

An economic is said to be growing if there is a sustained increase in the actual output of goods and services per head.

Likewise a nation economy is being developed when there is increase in the real per capital income and substantial positive transformations are geared towards the various sector of the economy.  In comparing per capital income of some European nations namely Germany with that of Nigeria though Nigeria being a third world country, it is quite pertinent to note that the rate of development of dear nation Nigeria, is far too slow.  In respect of the above, capital market which is a mechanism of fund provision and allotment is used as an insight to evaluate the economic rate of development of Nigeria.  It is that junction that the researcher deemed it fit to adopt a though – provoking topic as capital market in Nigerian’s Economic Development.

 

1.2            STATEMENT OF PROBLEM:

The research work is designed to know the role of capital market in Nigeria economic development .

 

1.3            OBJECTIVE OF STUDY:

1. To describe how capital market help economic development through the provision of liquidity for long term investment.
2. To find out if efforts of the capital market are geared toward the nation’s economic development.
3. To evaluate the problem of capital in Nigerian’s economic development.
4. To identify industrial management with some ideas of the current cost of capital.
5. To find out the requirement of the stock exchange.

 

1.4            PURPOSE OF THE STUDY:

1. To find out the increasing of capital market.
2. To find out the difference between capital market in Nigeria economic development.
3. To find out the problem in Nigeria’s capital market.
4. To find out the role capital market in economic development.

 

1.5            SIGNIFICANCE OF THE STUDY:

1. This work is aimed at properly synthesizing the capital market with respect to its modalities execution and then presenting perhaps, in the final analysis the better sides of the policy to the Nigeria economy.
2. This however will also have to address the side effect and then through this appraisal stand to advice for or against the policy to his policy.
3. The recommendation of the researchers will be intended to go across this premise to find solution to the capital market problem as regards the practice of Nigeria’s economic development and might even suggest better alternatives.
4. Provide material through this result that will serve as basis for new ideals.  In the event of their being need for future studies or researches, in this same premises.

1.6            SCOPE OF THE STUDY:

 

 

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INVENTORY CONTROL PROCEDURES IN MANUFACTURING ORGANIZATIONS

 

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CHAPTER ONE

1.0            Introduction                                                                   1

1.1     Background to the study                                                         2

1.2            Statement of problems                                                   3

1.3            Objective of the study                                                    3

1.4            Scope of the study                                                                   4

1.5            Research questions                                                                  4

1.6            Significance of the study                                                5

1.7     Brief history of Emenite                                                5

CHAPTER TWO

2.0     Literature review                                                            10

2.1            The concept of inventory control                                   10

2.2            Inventory control procedures                                        13

2.3            Finished goods inventory                                              16

2.4            Problems of inventory control                                                 18

2.5            Inventory control decisions                                           19

2.6            Stock control models                                                     22

2.7            Inventory valuation                                                       26

2.8            Inventory records                                                                    30

2.9             Summary of Related Reviewed Literature                              35

 

CHAPTER THREE

3.0    Methodology                                                                 37

3.1            Research design                                                             37

3.2            Area for the study                                                                   37

3.3            Population for the study                                                         38

3.4            Sample and sampling procedure                                    38

3.5            Instrument for data collection                                                 42

3.6            Validation of instrument                                                         42

3.7            Reliability of the instrument                                          42

3.8            Method of data collection                                              43

3.9            Method of data analysis                                                          43

 

CHAPTER FOUR

4.0            Data presentation and analysis of data                                   44

Summary of findings                                                     55

 

CHAPTER FIVE

5.1            Discussion of results                                                      57

5.2            Conclusion                                                                     58

5.3            Implications of the research results                               58

5.4            Recommendation                                                           59

5.5            Suggestion for further studies                                                 60

5.6            Limitations of the study                                                          60

References                                                                      62

Appendix                                                                       63

 

 

ABSTRACT

This is a research project on inventory control procedures using Emenite Limited as a case study of manufacturing company.

This study is necessitated by the fact that many manufacturing firms can no longer meet up to installed capacity due to poor management of inventories. This has led to closing down of various companies or retrenchment of workers due to lean pockets. Therefore in this project, I am at critically examining the inventory control procedures of Emenite limited with the view that some other manufacturing companies in Enugu will learn from its success.

To solve the problem, both primary and secondary data were collected by using questionnaires, oral interviews of staff and personal observations. And in organizing the data, taxes and percentages were used.

The interpretation of the findings provide that Emenite Limited is a successful manufacturing company whose firm inventory control policies vitally ensures its success, and that other manufacturing companies can successes by following in the footsteps of Emenite Ltd.

 

 

CHAPTER ONE

 

INTRODUCTION

Inventory could be defined as the stock of materials kept in anticipation of future demand or use. The term was originally an American term for depicting the value or quality of materials that are kept or stored for use as the need arises. It is applied to a detailed list of goods or articles in a given place or a stock – taking.

Furthermore, there are about five classifications of inventory; namely;

–         Raw materials

–         Components and sub-assembles

–         In process materials or work in progress

–         Finished goods

–         Consumables.

Having said these, it is the process of controlling these inventories or materials that I am going to research about in this project, using Emenite Ltd as a case study.

 

1.1     BACKGROUND TO THE STUDY

          Having pointed out in the introduction that inventory includes Raw materials, finished goods, components and sub-assemblies, work-in-progress, consumables etc, it means that a very substantial amount of a company’s working capital is always tied up in it’s inventories, it implies that the company should be able to control it’s inventory effectively and this brings us to the definition of inventory control.

Inventory control is the activities, techniques and methods of maintaining an accurate stock of items or inventories at a desired level. This is because a company’s inventory can either be an asset or a liability to her, depending on the quantity available at the moment.

Too much inventories consumes physical space, increase the possibility of damages, spoilage or loss. While on the other hand, too little inventory disrupts manufacturing operations, engenders chaos on the shop floor and increases the likelihood of poor customer service.

Too much or too little inventory is an evidence of poor forecasting inadequate attention to processes and procedures and haphazard scheduling. Therefore if a manufacturing company must survive, strategies for minimizing avoidable waste, shortages and excesses must be developed so as to compete effectively with other firms. And all these can only be achieved through effective inventory control.

 

1.2     STATEMENT OF PROBLEM

          Since inventories are the wheels on which manufacturing activities run on, the progress of a manufacturing concern or it’s down fall depends on how firm their grip on inventories are. I have therefore set out by this project to:            

1. Consider and analyze the various systems of inventory control and the problems for maintaining them.
2. Know the standard system for controlling inventory
3. Find out the imitations against the effective implementation of inventory control procedures.

 

1.3            OBJECTIVE OF THE STUDY

a)                 Demonstrate the methodology of Emenite Ltd inventory control procedure.

b)                Present the various ways of achieving organizational goals through proper raw material handling.

 

1.4            SCOPE OR DELIMITATION OF STUDY

While conducting research for this project, there are some problems which were encountered and which affected (indirectly) the project. They include:

1)      For lack of time could not question all the staff of Emenite Ltd, hence I applied the sampling method.

2)      The study was limited to Emenite alone, since I could not reach other manufacturing companies. Hence the project only speaks about Emenite.

3)     There was not much money with which to run around for the project.

 

1.5            RESEARCH QUESTIONS

The information’s contained in this project were collected based on the presumption of the following hypothesis:

a)                 That the success of manufacturing concerns depends on their material management.

b)                That Emenite ltd has a very good inventory control procedure, hence their success in manufacturing.

c)                 Many other manufacturing companies can make good progress if they follow a suitable material control process.

1.6    SIGNIFICANCE OF STUDY  

This study is very important because:

1)      It will bring to the knowledge of manufacturing companies, that proper inventory control is the basis for organization progress in manufacturing.

2)      Up coming manufactures will be able to learn from an existing company how to handle their inventory so as to make profit from it.

 

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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CHAPTER ONE

INTRODUCTION

“There have been some academic assertions to the effect that accountants and managers who are employed in the industry do not use most of the mathematical decision making tools, cost-volume-profit analysis inclusive”.

 

1.1     BACKGROUND OF STUDY

“Some industries today are encountering problems raised by expansion through increased sales and the introduction of new products. Many on the other hand are facing problem of contraction due to the introduction of substitute materials, products. Whenever is the case, it is vitally important that management should be in a clear position to plan for these changing levels of activity”.

Apart from the problem of contraction and expansion, during the period of economic depression a business 0may be faced with the alternative or closing down or selling its products at a price below the total cost. Also profit   planning and control is made more difficult by the changes in the general pattern of demand 0for the types of products offered and the action of competitors.

In order to solve the problem created by the above situation profit planning, cost and decision making require an understanding of the characteristics of costs and their behaviour at different operating levels. One of the most important tools develop by accountants to assist management in meeting the challenges is the cost volume-profit-analysis (C.V.P) otherwise known as the behaviour analysis.

Cost-volume-profit analysis is a management tool that could be used in making vital decision when a firm is faced with problems having cost, volume profit implications. Problems within this area do abound 0and occur frequently that appropriate decision on them are near daily requirements. Some of them are profit planning, product planning, product pricing, selection of promotion mix, selection of distribution channels make-or-buy decision and 0add-or-drop decisions.

According to J.M Pandey “the analytical technique used to study the behaviour of profit in response to changes in volume, costs and price is called the cost-volume-profit analysis it is the device used to determine the usefulness of the profit planning process of a firm.

 

1.2     STATEMENT OF PROBLEM

High aggregate import ratio of raw materials, machines and expertise used by manufacturing firms and coupled with the ever declining value of the naira resulted in cost problem with rising cost. Consequent increase in the 0cost of foreign exchange is that some manufacturing firms that could not cope with the situation were pulsed out of business cycle. While those that survived could not meet up their former capacity utilization level resulting again in volume problems because of rising cost of production and the low capacity utilization which means low volume of output, the manufacturing firms in their attempt to make up fix prices that are exorbitiveness and excess stock, which has the overall effect of reducing profit hence profit problem.

Management is faced with the problem on how to make use of he available scarce resources in order to achieve the objective of profit maximization. In this study, answers should be provided to the following questions.

• Is cost-volume –profit analysis extensively applied in firms.

Has the application of cost-volume-profit analysis

RELEVANCE OF ACCOUNTING SYSTEM ON THE PERFORMANCE OF MANUFACTURING COMPANY

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ABSTRACT

The relevance of effective accounting system on the performance of a manufacturing company was intended to investigate the effect of mediocre and lack of comprehensive accounting system, financial accounting system and management accounting system.

The research work also received work done by others in respect to his subject matter by using text books, questionnaires, professional journals and conference papers by prudent scholars.

The statistical research study also revealed that the application of the relevant accounting system in a manufacturing company couldn’t be over emphasized or compromised.

The cost accounting system of manufacturing firms clearly showed the cost of raw material consumed, the prime cost of production and their profit.

It was the recommendation of the researcher that the three accounting system can be used in any manufacturing company, but may not be used in a service oriented industries, except where they are considered essential and indispensable, otherwise, the system are very expensive to maintain.

CHAPTER ONE

1.0 Introduction                                                                                     1

• Background of the study 1
• Statement of the study 2
• Objective of the study 3
• Significance of the study 3
• Scope and limitation of the study 4

CHAPTER TWO

2.0 Review of related literature                                                              6

2.1 Concept of accounting                                                                     6

2.2 Evolution of the accounting system                                                 8

2.3 Accounting as a system                                                                   9

2.4 Sound accounting system              `                                                 12

2.5 Purpose of accounting system                                                         17

2.6 Accounting information system                                                       23

2.7 Relevance of an Adequate/sound accounting system                       25

CHAPTER THREE

3.0 Finding, Conclusion, Summary, Recommendation                          26

3.1 Finding                                                                                            26

3.2 Conclusion                                                                                      27

3.3 Summary                                                                                         28

3.4 Recommendation                                                                             29

Bibliography                                                                                32

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY

In any organization, manufacturing or non-manufacturing that knows its functions requires an effective accounting system for it continues in existence. In the past, use have heard of how firms up due to one reason or the other. When properly investigated as to what constitute their folding up, one may not be surprised that it was due to negligence in operating on effective accounting system. Even the greatest book on earth “The Holy Bible” makes it own judgment on this, in Mathew 25:14-30. Which in this illustration, we heard of a master who, while away, entrusted various sum of money to his three servants, on return, he called them to “account” for the property entrusted to them, out of the three servants, one could not give a god account of the property entrusted to him, hence he was unsuccessful (and fold up).

Each of the manufacturing company needs an effective accounting system to determine its profitability position by at least break even. The shareholder is “interested in seeing his invested fund yielding profits, thereby increasing their shareholdings. The creditor wants to be sure that his fund is adequately guaranteed; However, penitent to highlight out this juncture that accounting system is a means of obtaining all relevant information, which is needed by management in decision making.

 

1.2     STATEMENT OF THE PROBLEM

When considering the problem that relates to an unsound accounting system, what easily comes to mind is the possibility of frauds, either by senior managers or other staff, to occur. Such fraudulent practices may include with holding of cash receipts, misuse of funds, falsification of documents of higher levels, purchasing Keck balks, padding of payrolls, diversion of securities, removal of materials or products of staff etc. Another problem is allowing the accounting function in the authority of incompetent personnel who has shallowed or no knowledge of accounting.

However, where there is negligence in keeping an effective accounting system, the management will definitely find it practically