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THE ROLE OF COMMERCIAL BANKS IN FINANCING SMALL SCALE INDUSTRIES IN NIGERIA

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THE ROLE OF COMMERCIAL BANKS IN FINANCING SMALL SCALE INDUSTRIES IN NIGERIA

(A CASE STUDY OF UNION BANK OF NIGERIA PLC).

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ABSTRACT 

The topic of dissertation is The Role Of Commercial Banks In Financial Small Scale Industry In Nigeria. A case study of union bank of Nigeria plc. The  major objective of the study is to ascertain the extent to which union bank of Nigeria plc has helped to financial small scale industries.Instrument of data collection is questionnaires and research questions which formed the source of primary data, while materials from various published articles, textbooks, journals and newspaper formed the secondary data.

The method of analysis is the use of  tables, percentages and chi-square .

The major finding of the research is that union bank of Nigeria plc has helped to financial small scale industries period under review.

The recommendation based on the finding is that in order to reduce the risk in small scale industry lending, the central bank of Nigeria and the government can do more than they are doing currently scheme.

The study concluded that if the desired objective of using small scale industries as catalysts of development is to be achieved than the role of commercial banks should be mutually supportive.

 

 

TABLE OF CONTENTS

CHAPTER ONE

INTRODUTION ANALYSIS

1.1     Background to the problem

1.2     Problem statement

1.3     Objectives of the study

1.4     Research questions

1.5     Research hypothesis

1.6     Scope of study

1.7     Limitations of the study

1.8     Definition of study

Reference

 

CHAPTER TWO

LITERATURE REVIEW

2.1     Introduction

2.2     Meaning of small scale industry

2.3     Government policy

2.4     Support systems

2.5     Financing

2.6     Monetary policy development in favour of small scale industries

2.7     Benefits of small scale industry

2.8     Problems facing small scale industry

2.9.1  Financing the project

2.9.2  Technical knows how

2.9.3  Personnel, matters and general administration

2.10   Improving funding small scale industries

References

CHAPTER THREE:   

RESEARCH METHODOLGY

3.0     Introduction of the study

3.1     Research design

3.2     Area of study

3.3     Population of study

3.4     Sample size determination

3.5     Instrument for data collection

3.6     Validation of the instrument

3.7     Reliability of the instrument

3.8     Method of data collection

3.9     Data analytical techniques

 

CHAPTER FOUR:     

PRESENTATION AND ANALYSIS OF DATA

4.1     Presentation of data

4.2     Hypothesis testing

 

CHAPTER FIVE FINDINS:

CONCLUSIONS AND RECOMMENDATIONS

5.1     Findings

5.2     Conclusion

5.3     Recommendation

Bibliography

Appendices

 

 

CHAPTER ONE 

INTRODUCTION

1.1     BACKGROUND TO PROBLEM

The successive development plans of Nigeria have laid emphasis on the attainment of self reliance.  The need for this national objective is because much is expected from individuals from the view point of providing employment opportunities self reliance in basic food and material production high per capital income, foreign exchange earnings and the production of industrial raw materials.

Okporobie (1989:10) observes that Nigeria small scale industries continued to decline despite the so called priority given to the sector

However, the discovery by the central bank  that this policy was not enough by it self led to the central bank request with effect from 1970/80 that all commercial bank must reserve a proportion of the minimum credit allocation to indigenous borrowers for small scale Nigeria enterprises.  The target prescribed in 1979 was ten percent (10%) which subsequently raised to sixteen percent (16%).

Even though available data showed that performance of commercial banks against this directive has been disappointing. The central bank intends to  spare no effort in ensuring that banks fully couple without compromising the smooth functioning of the nation banning system.

He observed also, that without the development of small scale industries in Nigeria, the nations quest for industrialization will certainly remain forever at stake. It is the opinion of the researcher that future development in our industrialization must address the basic issues of creating linkages without the economy to begin to produce real inputs to our manufacturing activities .

Priority attention must therefore be given to these industries for which domestic inputs could easily be produced.  This will bring about  agro-allied industries like food processing and other by-products.

The objective should be to maximize the value added in their processing and manufacturing as final goods immediately inputs.

Nzewi and Oze (1985:56) observed that empirical evidence indicates that strong producer incentives to small scale industrialists are necessary not also only to meet the food requirement but also to  provide growing input supplies and demand as a foundation for sustained industrial growth.

The present economic constraint may well turn out to be a blessing in disguise to our industrialization effect particularly for dynamic manufacturing sector.  For instance, the market determinate exchange rate through seeing with its result and high cost of imported inputs may serve as an impetus for industrialist to intensify their search for local substitutes.

Ekenyong and Nyong (1992) observed that small scale enterprises are regarded an organic part of a viable structure for the attainment meaningful economy development in developing economic like Nigeria.

They are significantly more cost effective in bringing about development than large enterprises because of the perceived linkage and multiplier effects which small scale enterprises have on the performance of the economy and economic growth in general.

 

Osayameh (1989) observes that the strength that make small scale enterprises more amendable for assistance areas as follows.

1.       Personal commitment of the proprietor whose life savings usually form the start up capital.

2.      Low initial capital out lay requirement

3.       Ease of entry and exit and prevalence of just minimal legal constraints

4.       Amenability to business advisory services because of their small size which makes than more responsive to improvement suggestions.

Olashore (1987) Observes that the four main sources of enterprises financing open to small scale industry in Nigeria are.

i.        Formal financial institutions such as commercial banks merchant banks, insurance companies and the development bank.

ii.       Informal financial landlords, credit and savings associations “esus” friends and relations personal savings and .

iii.      Other financial scheme, NERFUND NEXIM

in 2001, there was an introduction of small and medium industries equity investment scheme (SMIEIS) in which N359 million was set aside to date by banks under small medium industries equity investment scheme.

Through union bank small and medium scale enterprises (SMES) department, the bank has remain ed in fore front of SMES financing nations was extended to the SMES as at 31st March 2004.

Small scale industry is any industry not exceeding N750,000 including working capital  but excluding cost of land.

It is also defined by center for industrial research and development of Obafemi  Awolowo university Ile Ife as  those industries whose total assets in plant, equipment and working capital do not exceed N250,000 with not more than 50 employees.

 

1.2     STATEMENT OF THE PROBLEM

The problem of credit to small scale industries may not necessarily be as a result of financing insufficiency but rather for some other reasons among which are.

i.        Insufficient preparation on the part of small scale entrepreneurs in their request for credit assistance.

ii.       Information gaps as to range of funding institutions and scope of services available in these institution

iii.      Moreover, servicing of small business accounts is relatively experience, risky and difficult to monitor with low turn over of account.

However, the parishioners in the sector small scale industry do not display competence in preparing justification for their project.  It is are to see most of them coming up with cash flow projections, projected balance sheets, among others.  They are based on personal rudimentary in formation and speculation.  At times when they seek the advice of consultants, the outcome that are made figures project based on assumptions which are most of their time unrealistic.

As a result such proposals are out rightly rejected by banks.

There are suitable when credit demands in this sector are not in compliance in this government monetary policy and credit guidelines which must be adhered to by banks.

The researcher identifies these problem and considers it necessary to carry our study on them.

 

1.3     OBJECTIVES OF THE STUDY

The objectives of the study include:

a.       To ascertain the extent to which the union bank of Nigeria plc has helped to finance small scale industries.

b.       To identify the problems encountered by small scale industrialists in obtaining finance from union bank of Nigeria plc.

c.       To evaluate various measures introduced to boost industrial production and its financing and how this has affected realization of the set goals.

d.       To determine the causing changes in small scale industrial financing by union bank of Nigeria plc.

e.       To make suggestion and recommendations based on the data generated by the study.

 

1.4     RESEARCH QUESTIONS

The critical appraisal to give answers to the following questions.

a.       To what extent has  union bank of Nigeria plc helped to finance small scale industries?

b.       What are the problems encountered by the small scale industrialists in obtaining finance from union bank if Nigeria plc?

c.       What are the various measures introduced to boost industrial production and its  financing and how this has affected the realization of the set goals?

d.       What are the causes of changes in small scale industrial financing by union bank of Nigeria plc?

e.       Does any linear relationship exist between lending to small scale industries and economic recovery and self reliance on the economy?

 

1.5     RESEARCH HYPOTHESIS

a.       There is no linear relationship between lending to small scale industries and economic recovery and self-reliance of the economy.

b.       there is no relationship between union bank of Nigeria plc lending to small scale industries and the attitude of this customers

 

1.6     SCOPE OF STUDY

The scope of the study is the role of commercial banks in financing small scale industries in Nigeria. A case study of union bank of Nigeria plc.  It does not cover the role of commercial banks in financing medium and large scale industries.

 

 

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NAIRA EXCHANGE RATE DEPRECIATION AND DOMESTIC INFLATION IN NIGERIA

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NAIRA EXCHANGE RATE DEPRECIATION AND DOMESTIC INFLATION IN NIGERIA

C

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ABSTRACT

The research work critically examined the extent to which naira exchange rate depreciation had affected domestic inflationary rate in Nigeria between 1985 – 2000. Therefore, in this study, the researcher examined the trend of inflation and exchange and the relationship between the two variables.   A model was specified to show the relationship between both variables.  Also interest rate was included in the model as one of the variables that affect inflation.The model was then estimated using multiple regression method and variable statistical tests where carried out on the regression equation. The result was analyzed accordingly. Moreover, the result of the statistical test shows that exchange rate depreciation of Naira is significant in explaining variation in the rate of inflation.

Finally, the data for the project work was collected from most recent years in order to make finding, adequate in explaining the cause of inflation in recent times.

 

 

TABLE OF CONTENTS

Title page                                                                                          ii

Approval page                                                                                  iii

Dedication                                                                                         iv

Certification                                                                                                v

Acknowledgement                                                                                      vi

Abstract                                                                                            vii

Table of contents                                                                              viii

CHAPTER ONE

Introduction                                                                                                1

1.1            Background to the study                                                                   1

1.2            Statement of problem                                                              3

1.3            Significance of study                                                               5

1.4            Objective of the study                                                             5

1.5            Research hypothesis                                                                6

1.6            Scope of study                                                                        7

1.7            Definition of terms                                                                            7

Reference                                                                                 8

CHAPTER TWO                                     

Literature review                                                                               9

2.1            The concept of exchange rate                                                  9

2.2            Exchange rate management in Nigeria                                     19

2.3            Inflation – a concept                                                                28

2.4            Theories of inflation                                                                32

2.5            Inflation in Nigeria                                                                  37

2.6            Exchange rate depreciation and inflation in Nigeria                          41

2.7            Empirical evidence                                                                  43

Reference                                                                                 46

CHAPTER THREE

Research methodology                                                                      48

3.1            Method of data collection and analysis                                   48

3.2            Theoretical framework and model specification                      48

Reference                                                                                 53

CHAPTER FOUR      

Analysis of result                                                                    54

4.1            Presentation of result                                                              54

4.2            Analysis of result                                                                    55

CHAPTER FIVE

Summary, conclusion and recommendation                                               57

5.1            Summary                                                                                 57

5.2            Conclusion                                                                              58

5.3            Recommendation                                                                     58

 

 

CHAPTER ONE

 

INTRODUCTION

1.1            BACKGROUND TO THE STUDY

The naira exchange rate depreciation coupled with persist increase in the inflationary rate has been a major bane on economy of Nigeria.  To a layman inflation is a phenomena to embrace as his income increases daily without knowing the harmful side of such an increase.  Whether there is anything like depreciation or an improvement in the exchange or whether is income is nominal or real the layman do not know.

But this complementary problems so to say of naira exchange rate depreciation and inflation has been a thought of obesity in the hearts of Nigerians past and present governments and many patriotic Nigerians.

The pegging of, inflation in Nigeria can be said to be a direct result of the policies of the country’s governments to stimulate a fast rate of economic growth and development, since 1951 when the ministerial government was introduced between 1984 and 1986, the naira was quoted against dollar and pounds as the only intervening currencies which was in line with the International Monetary Fund (I.M.F) demand.  I.M.F had earlier complained that naira exchange rate was rising above the stipulated 2% limit.  The naira was then devalued at 1.000 4 US dollar.  The inflation rate in Nigeria was not serious problem before her independence.  But immediately after the civil war i.e. from 1970’s, the inflation rate in Nigeria took another dimension.  The value of naira as against dollar and pounds sterling started to deteriorate, in 1970, it was a naira to 1.400 dollar and 0.584 pounds sterling.  In 1971, it was 1.44 dollar and 0.582 pounds sterling to a naira.  In 1973, it was 1.519 dollar and 0.614 pounds sterling to a naira.  In 1974 it was 1.589 and 0.675 pounds sterling to naira which increased to 1.623 dollars and 0.734 pounds sterling in 1975 as a result of Udoji salary award of 1974 increased wage extensively.  Higher wages increased the purchasing power of consumers thus, leading to increase in their prices.

The introduction of Structural Adjustment Programme (SAP), and second-Tier Foreign Exchange (SFEM) in 1986 on one of government’s major policy packages, was aimed at making the over, valued naira exchange rate more realistic and responsive to market forces.  Regrettably, C. Anyanwu (1989) observed, the SAP/SEFEM was a disaster that was fast destroying the foundation of Nigeria economy.  There was consequent persistence of exchange rate depreciation of the naira (from 1.5691 naira to 1.0 dollar at the end of September 1986, 7.8950 naira to 1.0 dollar by mid February 1990).  Also by August 1998, the dollar was sold for 21.9960 naira at the Foreign Exchange Market (FEM) while at parallel market it was sold for 45 naira.  The value of naira continued to depreciate to the extent that the exchange rate was less than one dollar to a naira before 1990.  It was 0.119 US dollar to a naira in 1990.  This depreciated to 115.7 to a dollar by the 12 April, 2001 (CBN) 1994.  By 2003, it has risen N130 to the US dollar.

1.2            STATEMENT OF PROBLEM

The depreciation of naira persistently, has various inflationary effects on the economy of Nigeria.  The effects of this macro-economic problem can be highlighted in different stages.  In the first place, when a currency is depreciated, it is designed to reduced or discourage the excessive dependence on a particular foreign or some foreign commodities.

This will make domestic prices of such imports may be intermediate goods and as a result tends to push the cost of production of final goods up.

In another way, deteriorating exchange rate of naira could bring about inflation of increase in wage rate or demand, when the naira is devalued, the price of important raw materials increases domestic firms may be willing to increase production reduction on their competition as a result of like in prices of raw materials.

Consequently, the output of the firms will attract high prices, therefore for consumers to meet their provisions level of consumption or maintain their real income, calls for wages increase which according to Sotersten (1994) will worsen the whole situation.

Nigerians as one of the developing nations that heavily depend on imported inputs, implements and machinery, the cost of these are usually very high due to poor exchange rate of naira.

This will discourage potential investors, how investment will lead to reduced national product, which is an indicator of stagnancy or retrogression of the economy.

For this reason, Obasanjo (1999) noted that any thing could happen of regulatory authorities did not take steps to tidy up the situation, so the researcher wants to find out the problems and suggest ways of remedying the situation.

1.3            SIGNIFICANT OF THE STUDY

For the purpose of this study, the researcher took a step further to determine the possible significances.

(i)                To give other researchers who which to write on this topic the process to follow

(ii)             To check the inflationary of deflationary gap

(iii)           To determine the cumulative impact of broad money growth and the sizeable devaluation of the naira

(iv)           To determine the fate of naira with other internal currencies.

(v)             To determine government policies.

1.4            OBJECTIVE OF THE STUDY

The objectives of this study include the following

(i)                To identify the causes of inflation and exchange rate depreciation.

(ii)             Examine the extent to which naira exchange rate depreciation heed affected domestic inflationary rate in Nation.

(iii)           Assess the effectiveness of government earlier introduced policies.

(iv)           Give suggestion and recommendation on appropriate policies for the future.

1.5            RESEARCH HYPOTHESIS

Since the research data was mainly from secondary sources, the hypothesis used will be in two forms to determine result.

The null hypothesis and the alternative hypothesis.  The null hypothesis (Ho) will be tested against the alternative hypothesis (Hi)

(a)     Ho:    There is no positive or significant relationship

between exchange rate depreciation and domestic inflation in Nigeria.

(b)     Hi:     There is significant or positive relationship between

exchange rate depreciation and domestic inflation in Nigeria.

1.6            SCOPE AND LIMITATION OF THE STUDY

The study covers the period from 1985 to 2000.  It concentrates on the trend of exchange rate depreciation and inflation in Nigeria.  The study is limited to the period because of the problems associated with the availability and collection of secondary data needed for the research work due partly to the level of development of the Nigeria economy.

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Business Administration Project MaterialS topics preview

APPLICATION OF KNOWLEDGE MANAGEMENT TOOL FOR IMPROVEMENT IN GUARANTY TRUST BANK PLC

APPLICATION OF KNOWLEDGE MANAGEMENT TOOL FOR IMPROVEMENT IN GUARANTY TRUST BANK PLC

COMPLETE MATERIAL IS N5,000.

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
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Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

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ABSTRACT

The title of this project is “Application of knowledge management tool for improvement in GTB plc. The main objectives of this study among others, is to find out, if the organization has a formulated systematic process and strategies with regards to the acquisition, sharing and evaluation of knowledge available within the organization. In other to achieve these objectives, a research question was formulated and administered to examine that the organization has formulated systematic process for acquisition, sharing and evaluation of knowledge. Questionnaire was used as instrument for data collection. The Likerts 5 point scale and mean score methods were used to analyze the data. One of the findings was that, the style of management helps in the acquisition, sharing and evaluation of knowledge available within the organization. In conclusion, laid-down processes and strategies for acquisition, sharing and evaluation of knowledge for proper flow of information for teamwork and greater results. It is recommended that benefits and importance of knowledge management should be clearly explained to the employees for better outcome of result.

 

 

CHAPTER ONE

Introduction

1.1    Background of the study       –       –       –       –       –       1

1.2    Statement of the Problems    –       –       –       –       –       3

1.3    Objectives of the Study         –       –       –       –       –       4

1.4    Significance of the study       –       –       –       –       –       5

1.5    Research Questions      –       –       –       –       –       –       5

1.6    Scope of the Study       –       –       –       –       –       –       6

1.7    Limitation of the Study –       –       –       –       –       6

1.8    Definition of Terms       –       –       –       –       –       –       6

 

CHAPTER TWO

Literature Review

2.1    Introduction        –       –                –       –       –       –       7

2.2    Conceptual Definition   –       –       –       –       –       –       7

2.3    Knowledge Management       –       –       –       –       –       8

2.4    Objectives of Knowledge Management    –       –       –       11

2.5    Dimension of Knowledge       –       –       –       –       –       12

2.6    Strategies for Knowledge Management    –       –       –       15

2.7    Motivation as tool for Knowledge Management –       –       16

2.8    Technology use in Knowledge Management     –       –       20

2.9    Knowledge Leader        –       –       –       –       –       –       21

2.10  Knowledge Management System    –       –       –       –       24

2.11  Benefits of Knowledge Management        –       –       –       27

2.12  Summary of the Chapter       –       –       –       –       –       27

 

CHAPTER THREE

Research Methodology

3.1    Introduction        –       –       –       –       –       –       –       28

3.2    Research Design –       –       –       –       –       –       –       28

3.3    Area of Study      –       –       –       –       –       –       –       28

3.4    Population of the Study         –       –       –       –       –       28

3.5    Sample and Sampling Techniques   –       –       –       –       29

3.6    Instrument of Data Collection        –       –       –       –       29

3.7    Validation of Instrument        –       –       –       –       –       29

3.8    Reliability of Instrument        –       –       –       –       –       29

3.9    Method of Data Collection     –       –       –       –       –       29

3.10  Method of Data Analysis        –       –       –       –       –       30

 

CHAPTER FOUR

Data Presentation and Analysis

4.1    Introduction        –       –       –       –       –       –       –       31

4.2    Characteristics of Respondents       –       –       –       –       32

4.3    Data Presentation and Analysis       –       –       –       –       34

4.4    Summary of Findings    –       –       –       –       –       –       44

4.5    Discussion of Findings  –       –       –       –       –       –       45

 

CHAPTER FIVE

Summary, Conclusion and Recommendation

5.1    Summary    –       –       –       –       –       –       –       –       47

5.2    Conclusion –       –       –       –       –       –       –       –       48

5.3    Recommendation         –       –       –       –       –       –       49

Bibliography –      –       –       –       –       –       –       –       51

Appendices –       –       –       –       –       –       –       –       53

 

CHAPTER ONE

  1. BACKGROUND OF THE STUDY

Knowledge management was scientific discipline in earlier 1990s, supported solely by practitioners after sometime Leif Eduinsson of Sweden, the world’s first chief knowledge officer (CKO) became interested in not only practical but also theoretical aspects of knowledge management.

Knowledge management (km) comprises ranges of strategies and practices used in an organization to identify, create, represent, distribute and enable adoption of insights and experiences, such insight and experience comprises knowledge either embodies in individuals or embedded in organization as a practice or process.

Knowledge management includes courses taught in the field of business administration, information system, management and library and information sciences but more recently other fields have started contributing to knowledge management research. These include information and media, computer science and public policy.

Knowledge management focuses on organizations objectives such as to improve performance, competitive advantages, innovation etc. however, knowledge management has a lot to challenges in accessing relevant knogwledge due to lack of skills in using various technologies tools and difficulties in implementing knowledge management within organization due to language usage e.t.c.

The reason for this study to see if organizations apply knowledge management and how well it has improved their organization and even employees.

HISTORICAL OF GTB

Guaranty Trust Bank is one of the best banks in Nigeria. Its started it formal banking in 1991. It has many branches in Nigeria and also has in Gambia, Liberia, Ghana, United Kingdom etc. it has received best bank and customer friendly awards. Guaranty Trust Bank’s license was approved on the 1st of August, 1990, and six months after its doors was opened to the public for business at 8.00am on Monday, the 11th of February, 1991. At it new redesigned head office building christened the plaza, at No. 6 Adeyemo Alakija, Victoria Island.

Fola Adeola and Tayo Aderinokun are the main founder of Guaranty Trust Bank plc. Both resigned from a merchant bank after seeing that the bank was collapsing due to management problems.

“Fola Adeola initiated the suggestion of the name “Guarantee Trust” due to the acronym that it could be easily remembered: Along the line a suggestion came from Gbolade Osibodu, the word “Guarantee” was change to “Guaranty” to further underscore the defining ethics of the new venture. Adeola and Aderinokun came from both NAL merchant bank and continental merchant bank and the consensus was that the new venture should be a commercial bank.

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AN EVALUATION OF THE IMPACT OF WAGES AND SALARIES POLICIES ON THE PERFORMANCE OF WORKERS OF NATIONAL EYE CENTRE

AN EVALUATION OF THE IMPACT OF WAGES AND SALARIES POLICIES ON THE PERFORMANCE OF WORKERS OF NATIONAL EYE CENTRE

COMPLETE MATERIAL IS N5,000.

MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 GTBANK
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.

Enter Amount

form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

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ABSTRACT

This research study deals with an evaluation of the impact of wages and salaries policies on the performance of workers in government parastatals, with special reference to National Eye Centre Kaduna.  The objectives of the study is to find out government policies with respect to wages and salaries in various government parastatals, the problems encountered while implementing wages and salaries in Nigeria, to also determine the effectiveness of wages and salaries policies on the performance of workers in government parastatals.  The research method use in this research work is survey methods for data collection.  The findings of this research work are that it is obvious that the most tangible means of compensation are wages and salaries, a major determinant of wages and salaries is the pay level of other organization.  In conclusion, this research work concluded that wages and salaries policy influence the performance of workers in government parastatals in Nigeria. The recommendations are since wages and salaries are the most tangible form of compensation, organization should ensure an equitable pay structure for the employees at all time.  There should be a proper collective bargaining process to ensure that wages are fixed at the choice of both the employer and employees fixed at the choice of both the employer and employees so that there will not be friction later on.

CHAPTER ONE: Introduction

  1. Background of the study                                                  1
  2. Statement of the problem                                                2
  3. Objectives of the study                                                    4
  4. Significance of the study                                                  4
  5. Research Hypothesis                                                        5
  6. Scope of the study                                                          5
  7. Limitations of the study                                           6

CHAPTER TWO: Literature Review

  1. Introduction                                                                    7
  2. Purpose of wages and salaries                                          9
  3. Determination of wages and salaries                                 10
  4. Government policy on wages and salaries in Nigeria

and their effect on performance.                                      17

  1. Methods of fixing wages                                                   21
  2. Achieving Organizational Effectiveness through

wages and salaries.                                                          25

CHAPTER THREE: Research Methodology

  1. Introduction                                                                    29
  2. Research Design                                                              29
  3. Area of study                                                                  30
  4. Population of the study                                                    30
  5. Sample size and sampling technique                                 31
  6. Instruments of data collection                                          31
  7. Validation of the instrument                                             32
  8. Reliability of the instrument                                              32
  9. Method of data analysis                                                   33

CHAPTER FOUR: Data Presentation and Analysis

  1. Introduction                                                                    34
  2. Characteristics of Respondents                                         34
  3. Data Presentation                                                            36
  4. Data analysis                                                                   39
  5. Test of hypothesis                                                           43
  6. Summary & Discussion of findings                                     47

CHAPTER FIVE: Summary, Conclusion and Recommendation

5.0    Introduction                                                                    51

  1. Summary                                                                        51
  2. Conclusion                                                                      54
  3. Recommendation                                                            54

Reference                                                                       57

         Appendix

 

CHAPTER ONE

INTRODUCTION

  1. BACKGROUND OF THE STUDY

Employer provides work for employees just as employee on the other hand enables organization and nation to provide or produce goods and services for the ultimate benefit of mankind (O’ Donnell 2000).

 

This is essentially in the nation building process.When goods are provided and services rendered, economy benefits also come to play.According to an abstract of employment, employers pays workers for productivity and services.This is of a symbolic advantage because just as employee help employers to make profit, the employer also give wages and salaries to employees to enable them meet their personal and domestic aspirations.

 

Fairly to pay wages and salaries has resulted in very important conflict in labour and management relation.Therefore, wages and salaries according to Mackenzie is the most significant reward that would assist them to have a good standard of living.

Wages and salaries are used as motivational factors or strategies (Micheal A. 2005).This is explain by piece: rate system which allows payment of wages in relation to job done, in addition, people have been seen to converse for work in organization, wages and salaries are no charitable grant by organization but a significant aspect of the right of worker in the productivity process.Payment must be made for job done by labour.Profit made should not only be for growth and development of companies while workers suffer physically and economically.

The idea of national minimum wage is based on the understanding of the fact that there must be a border line under which employers must not fall in the payment of salaries and wages to workers who need to maintain a living standard.

  1. STATEMENT OF PROBLEM

This research is carried out to evaluate wages and salaries policies on the performance of government parastatals in Nigeria with a case study of National Eye Centre Kaduna.Despite the services rendered by the public sector, salary increment is still a problem.The agitation for more salary is still on because of increasing level of standard of living.The global economic crisis also has brought about the agitation for salary increment and this is the reason for almost all the industrial action being embarked by personnel working in government parastatals.

Business Administration Project MaterialS topics preview

AN EVALUATION OF THE IMPACT OF REMUNERATION ON EMPLOYEES ATTITUDE AND PERFORMANCE IN ORGANIZATION

AN EVALUATION OF THE IMPACT OF REMUNERATION ON EMPLOYEES ATTITUDE AND PERFORMANCE IN ORGANIZATION

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ABSTRACT

The essay evaluates the impact of remuneration on individual attitude and performance in organization. The objective of the essay is to identify how remuneration affect employees performance as well as to find out the various methods of remuneration and also to identify the challenges of wages and salaries administration in organization. To this end, attempts were made to review literature on the meaning of remuneration, the impact of remuneration on employees performance, methods of remuneration, objectives of remuneration as well as challenges confronting organization in salaries and wages administration. The researcher recommended that organizations should adhere strictly to the government regulation on salaries and wages as stipulated in the labour Act.

 

CHAPTER ONE: INTRODUCTION

1.1     Introduction        –         –         –         –         –         –         –         1

1.2     Objectives of the Essay         –         –         –         –         –         3

1.3     Significance of the Essay      –         –         –         –         –         4

1.4     Scope and Limitations of the Essay        –         –         –         4

CHAPTER TWO: LITERATURE REVIEW

2.0     Introduction        –         –         –         –         –         –         –         6

2.1     Meaning of Staff Remuneration    –         –         –         –         6

2.2     The Effect of Compensation on Employee’s Work Performance-   18

2.3     Methods of Data Compensation    –         –         –         –         25

2.4     Objectives of Remuneration –         –         –         –         –         31

2.5     Challenges Facing Organization in Salary and Wages Administration   –         –         –         –         –         –         –         34

CHAPTER THREE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

3.1     Summary   –         –         –         –         –         –         –         –         35

3.2     Conclusion –         –         –         –         –         –         –         –         36

3.3     Recommendations       –         –         –         –         –         –         36

References

 

CHAPTER ONE

  1. INTRODUCTION

Remuneration refers to the mode of compensating the workers exerting their energy or spending their time in accomplishing their organizations objectives.

Remuneration can be in monetary terms or in form of services. A monetary term is of course in form of wages and salaries and part of fringe benefits like housing and transportation allowances. Compensation package has three major components which are wages and salaries, fringe benefits and the other one is incentive schemes. Remuneration which comes in form of services includes recreational services, canteen services and medical services.

Remuneration has a significant impact on workers attitude and performance in organization because it is the most effective motivational technique. Good remuneration improves productivity, while poor remuneration affects productivity adversely. However, the general problem of monetary remuneration is that they are expert in the short run but not necessarily cost effect. On the other hand, monetary remuneration can motivate workers depending on his or her needs for  money. Individual behaviour and consequently performance in an organization is related to remuneration. This is because people come to work in order to excel or to succeed in competitive situation.

As such, individuals with high needs for achievement have intense desire for success and equally intense fear of failure. As individuals, they like to see challenges set moderately difficult talk (but not impossible goal) for themselves, take realistic approach to risk, prefer to assume personal responsibilities to get the job done like specific and prompt feedback on how they are performing and likeness to work for long hours (Alfred, 1987).

Therefore, remuneration is one of the best motivational factors that facilitate individuals to put in their best in their job. As such, a well remunerated individual tends to work hard while a poorly remunerated worker does not put much effort in his or her job because such individual is not motivated.

  1. OBJECTIVES OF THE ESSAY

The main objective of the essay is to evaluate the impact of remuneration