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NAIRA EXCHANGE RATE DEPRECIATION AND DOMESTIC INFLATION IN NIGERIA

NAIRA EXCHANGE RATE DEPRECIATION AND DOMESTIC INFLATION IN NIGERIA

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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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BUDGETING: A SYSTEMATIC APPROACH TO PROFIT PLANNING AND CONTROL

BUDGETING: A SYSTEMATIC APPROACH TO PROFIT PLANNING AND CONTROL

(A CASE STUDY OF MOBILE TELECOMMUNICATION NETWORK NIGERIA LIMITED’ (MTN), ENUGU STATE)

 

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Account Name: 3059320631

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PROPOSAL

          Budgeting – A systematic approach to profit planning and control is a work that will be centered on the use of budgeting a tool for planning and control in order to maximize profit using mobile Telecommunication Network Nigeria Limited (MTN) Enugu, as a case study.

This research will be carried out through series of oral interviews and distribution of questionnaires in the collection of data and relevant information to the employees of mobile telecommunication Network Nigeria Limited Enugu.  The data that will be collected, will be analyzed as well as interpreted by the research from the testing and proofing of hypothesis.  The researcher will also source information from secondary data which includes text books, magazines, journals etc.

The researcher will be faced with the following constraints:

–                     Insufficient money to distribute as much questionnaires as possible.

–                     Poor response from the employees because they will be afraid of losing their job

–                     Insufficient time

In order for the company to achieve their objectives, the researcher will recommend that there should be budgetary control so that workers will be aware of the objective of the organization and subordinates opinion considered in the preparation of the departmental or company’s budget estimate.  This will help in encouraging goal congruence.

 

ABSTRACT 

          Budgeting – A systematic approach to profit planning and control is a work centered on the use of budgeting as a tool for planning and control for profit maximization in a mobile telecommunication network Nigeria Limited Enugu as a case study.

The objective of the study is to show the importance of budgeting as a tool for systematic profit planning and control in the mobile telecommunication network Nigeria limited which has profit maximization as its principal objective.

The research is also aimed at identifying the steps adopted in the formulation of annual budget of MTN Nigeria.

Consequent upon this, the following hypothetical question were used for the study.

  1. Managers use budgeting as a systematic approach to profit planning and control in attaining the goals of the business.
  2. Decision making is performed in mobile telecommunication using budgeting
  3. Utilization of resources is achieved with the use of budget and budgetary control

Following the investigation and analysis of data, the following findings were made

  1. The organization uses budgeting in achieving the goals and objectives
  2. The main objective of the organization is profit maximization
  3. Efficiency and effectiveness of the organization is achieved through the use of budgeting.

From the findings, the conclusions were arrived that budgeting is very essential and indispensable tool for profit planning and control.  It helps management to be well structured in sustaining the growth and expansion of the organization.

 

 

TABLE OF CONTENT

 CHAPTER ONE

1.0     Introduction                                                                            1

1.1     Historical Development of the Firm                              4

1.2     Background of mobile Telecommunication                    5

Network Nigeria Limited/Present state of Affairs

1.3     Statement of problem                                                    8

1.4     Objective of the study                                                    8

1.5     Research Question                                                                   9

1.6     Research Hypothesis                                                     10

1.7     Scope and limitation                                                      10

1.8     Significance of the study                                                         11

1.9     Definition of terms                                                                  12

 

CHAPTER TWO

2.0     Literature review                                                            14

2.1     Introduction                                                                            14

2.2     Definition of budget                                                       15

2.3     Types of Budget                                                            17

2.4     The Budget period                                                                   20

2.5     Administration of the Annual Budget                                     21

2.6     Stages in the Budget process                                         24

2.7     Appraisal of fixed, flexible and other budget                          43

2.8     Planning function                                                           45

2.9     Controlling function                                                      46

2.10   Budgeting control                                                          50

2.11   Variance analysis                                                           51

2.12       Additional Tool for Budgeting and Budgetary

control: Zero Base Budgeting (ZBB)                                       57

 

CHAPTER THREE

3.0     Research Design and methodology                                58

3.1     Research design                                                             58

3.2     sampling technique                                                        58

3.3     Sampling design and population size                                      58

3.4     Sources of data                                                              60

3.5     Interview questions                                                        60

3.6     Method of data analysis                                                60

 

CHAPTER FOUR

4.0     Presentation, Analysis and Interpretation of Data                  63

4.1     Analysis of questionnaires returned                              63

4.2     Hypothesis testing and proofing                                             71

 

CHAPTER FIVE

5.0     Summary of findings recommendations and conclusion         77

5.1            Summary of findings                                                     77

5.2            Recommendations                                                                   79

5.3            Conclusion                                                                     80

Bibliography                                                                  81

Appendix                                                                       83

 

 

CHAPTER ONE

 

1.0            INTRODUCTION

The growing complexity of the business environment and the ever increasing competition among firms in the modern time, make planning an invaluable tool for business success.  Successful management is no longer just a matter of flair, skill and determination, a conscious effort is needed to harness available resources towards the achievement of enterprise objectives.  Budgeting is one of the tools adopted by management for effective cost planning and control.

A budget is commonly understood  the forecast by a government, organization nor society of its expenditures and revenues for a specific period of time.  The  period covered  by a budget is usually a year known as financial year.  Budgeting is concerned with the utilization of financial resources to serve human needs.  Although a budget may be characterized by a series of goals with price tags attached.  It is mainly a mechanism for making choices among alternative expenditure.  When such are coordinated so as to achieve desired goals, the budget becomes a plan.  If there are specifications on how the goals are to be achieved, the budget becomes a psychological device to make administrators thin.  If however, the emphasis is placed on achieving the desired objective at the lowest possible cost, then the budget is an instrument for ensuring efficiency.

An enterprise which is effectively and efficiently managed produces good and rewarding result.  Management is efficient if it is able to accomplish the objectives with minimum efforts and costs.

Profit planning and control or budgeting is an integral part of management.  The financial manager has a particular interest in profits planning and control because he helps to regulate flows of funds which is his function.  The decision making process of management starts with planning.  ‘Planning is the design of a desired future and of effective ways of bringing it about.  In other words, planning involves the determination of the future course of action for accomplishing the objectives of the enterprise.  The basic purpose of planning is to provide guidelines for making decisions. It is a forward process to reducing uncertainty about the future.

Planning is a continuous process which would generally involve four fundamental steps.

  1. Establishing the objectives
  2. Determining the goals
  3. Developing strategies
  4. Formulating profits plans or budget.

Objectives are the statements of broad and long term desired state or position of the enterprise in the future. They are directional and motivational in nature and are generally the qualitative expressions of the desired future state.  For instance, the primary objective of an enterprise may be customers satisfaction, employee welfare, long-run- survival which depends upon the maximization of the long-run profit, that is wealth maximization.

Goals represent the operational specifications of the broad objective with time and quantity dimensions.  Goals are the quantified targets to be attained within a specific period e.g. long run profit maximization in order to increase the market value of the firm to shareholders is the broad objective of the firm.  But the goal for the next year may be to earn a 20% after tax profit on investment or a 5% profit on sales.

Strategies specify the ways of achieving the goal operationally.  For example, the strategies of a firm may include the use of retained earnings for expansion, keeping debt at a reasonable level, expanding sales through price reduction and aggressive advertisement.  Financial plans may take many forms, but any good plan must be related to the firm’s existing strength and weakness.  The strengths must understood, if they are to be used for proper advantage and the weakness must be recognized if corrective action is to be taken.

Finally, the formalization of objectives, goals and strategies for operational purposes is called the profit planning or budgeting.  It is called the profit plan or budget because it explicitly state the goals in terms of time expectations and expected financial results for each major segment of the entity.

 

1.1     HISTORICAL DEVELOPMENT OF THE FIRM

It is important at this point to review briefly the history of the company mobile telecommunication Network Nigeria Limited (MTN).  It was incorporated in Nigeria on November 8. 2000 as a private company.  It secured a license to operate digital (Global system for mobile telecommunications GSM) telephony on February 9 2001, from the Nigerian communications commission.  On May, 2001, MTN emerged as the first to make a call on its GSM network in the new dispensation. Thereafter, the company launched full commercial operations beginning with Lagos, Abuja and Port Harcourt in the company now provides coverage to 85 cities and well over 5,000 communities and villages, spanning every geo-political zone and 31 of Nigeria’s 36 states.

It is the first to erect a country wide microwave radio transmission backbone, offering unrivalled value for money evidenced by a loyal customer base attracted by MTN’s convenience, mobility, roaming on 30 international networks and economical Tarrifs.  MTN’s product and services are available at its friendship centres and a nationwide network of dealership, banks and convenience channels including entries, petrol stations and neighourhood stores.

 

1.2            BACKGROUND OF MOBILE ELECOMMUNICATION NETWORK NIGERIA LIMITED/PRESENT STATE OF AFFAIRS

The company through systematic planning and control represents several millions of Nara in investment.  The company as at May 31, 2004, had a total of 21 mobile switching centres and over 940 radio base stations across the country. Several more are in the process of being installed.  On January 20, 2003, MTN commissioned the first phase of its digital microwave transmission backbone, Y’ello Balm.  Constructed  at a cost of $120 million.  Y’elloBalm is Africa’s most extensive transmission infrastructure and has significantly helped to enhance call quality on MTN’s network.  Y’ello Balm spans 3,400 kilometers and traverses over 120 cities, villages and communities; while coverage has been extent to more than 90 major towns and a total of over 5,000 villages and communities across Nigeria.  The second phase of Ye’llo Balm is currently on going and will spand another 4,500 kilometers.

MTN subsists on the core brand values of leadership, integrity, innovation, relationships and a ‘can do’ attitude, a passionate optimistic focus on the future.  It prides itself on its ability to make the impossible possible – connecting people with friends, family and opportunities.  The ownership structure is currently as follows:  Mobile telephone Networks International Limited 76.44%

Nigerian partners                    20.56%

International finance corporation and infrastructure investment arm of the world bank                           3%

100%

TECHNICAL ASSISTANCE/COMEMRCIAL SERVICE AGREEMENT

          The company is technically supported by Nami Tech in south Africa who doe the prepaid voucher and supplier to MTN.

COMPAY’S CONTRIBUTION TO NIGERIA ECONOMY

          MTN currently employs more than 1,200 Nigerians.  In addition, more than 160 Nigerian companies are currently MTN distribution partners.  Of these, more htan 25 are banks, many of which have spun off subsidiary companies, many of the dealerships have branches nationwide and employ dozens of people.  Another 6,000 companies, including petrol statiosn, supermarkets and many others, serves as sub-dealerships.

Yet a great may other Nigerians earn a living as self-employed proprietors, recahrge card or mobile phone accessory vendors, many others operate the hundred of business centres scattred allover our cities.

VISION

–                     To improve telecommunications infrastructures and access throughout the countries in which we operate

–                     Quality service

–                     High profile distribution and accessibility of our services and products

–                     Setting up a good base for future expansion.

–                     Training and transferring skills to local staff.

–                     Becoming a good corporate citizen and becoming a major player in the Nigerian economy.

MISSION

–                     TO BE A CATALYST FOR Nigeira’s economic growth and development, helping to unleash Nigeira’s strong developmental potential not only through the provisionof world class communiations but also through innovative and impactful corporate social responsibility initiaties.

–                     We want the cals you make on our network to   be of the best quanlity in Nigeira

–                     We want our network to cover the broadest areas of Nigeira and athe continuous enhancing of convenience and value derived from using our network.

–                     Every call made shoukd  re-inforce your conviction that MTN is needed.

1.3            STATEMENT OF PROBLEM

 

 

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

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

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

 

 

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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LOCAL GOVERNMENT AUTONOMY AND GRASS ROOT DEVELOPMENT

LOCAL GOVERNMENT AUTONOMY AND GRASS ROOT DEVELOPMENT (A CASE  OF NSUKKA LOCAL GOVERNMENT OF ENUGU STATE)

 

 

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ABSTRACT

Local government  Autonomy and grass root development ( A case of Nsukka Local government of Enugu state). The purpose of the study is to determine how local government autonomy has affected grass root development in Nsukka Local government Area of Enugu State. A total population of seven hundred and fifth staff working at Nsukka Local government was chosen for the study. The sample for the study was 213 staff using yaro yamani method. Three (3) research questions were formulated to guide the study. Data analysis was done using simple percentage.

 

The major findings of the study were: Nsukka Local government lacks political autonomy as the State government interferes in their bye-law and policy making process, the Local government is not been financed properly and even when financed the State will hinder such by interfering through the State joint Local government Account, administratively, the state determine, discipline, recruit, promote etc the Local government staff and thereby denying administrative autonomy over their personnel. Despite these problems, it was recommended that: Nsukka Local government should have control over it’s finance, their personnel should be appointed, recruited, promoted, discipline by themselves. They should equally make their bye-law and other policy making themselves so as to boost it’s autonomy.

 

TABLE OF CONTENTS

CHAPTER ONE:

INTRODUCTION……………………………………………………………..1

1.0     Background of the study ……………………………………….………1

  • Statement of problem……………………………………………………5
  • Purpose of the study…………………………………………….………7
  • Research Question ………………………………………………………8
  • Statement Hypothesis ……………………………..……………………9
  • Theoretical frame work………………………………………..………10
  • Significance of the study………………………………………………11
  • Scope of the study……………………………………..………………12
  • Limitation of the study…………………………………………………12
  • Definition of terms …………………………………………………..13

 

 

CHAPTER TWO:

Review Literature ……………………………………………………………16

  • Introduction …………………………………………………..………16
  • Indices for measuring Local Government autonomy………….…….19
  • The quest for Local Government autonomy and 1976 Local Government reform………………………………………………….20
  • Gras root development ………………………………………………22
  • Challenges to full Local Government autonomy…………..………..24
  • Summary of the literature Review ………………………………….25

 

CHAPTER  THREE:

RESEARCH DESING AND METHODOLOGY…………………….…….27

3.0     Design of the study………………………………………………….27

3.1     Area of the study……………………………………………….…….27

3.2     Population of the study………………………………………..…….28

3.3     Sample size / sampling techniques…………………………….…….28

3.4     Instrument  for data collection ………………………………..…….29

3.5     Reliability of  the instruments ………………………………….……….29

3.6     Validity of the instruments ……………………………………………….29

3.7     Distribution and Retrieval of the instrument  ……………………….29

3.8     Method of  data Analysis …………………………………………….30

CHAPTER FOUR:

4.0     DATA  PRESENTATION  AND ANALYSIS ……………………………31

4.1     Data  Presentation  and Analysis …………………………………….31

4.2     Analysis of research question …………………………….………….32

4.3     Testing of Hypothesis    ……………………………………….…….39

4.4     Interpretation of results ……………………………………………….48

CHAPTER  FIVE:

SUMMARY OF FINDINGS / CONCLUSION AND RECOMMENDATION

  • Summary of Findings ………………………………………………….49
  • Conclusion ……………………………………….……………………….51
  • Recommendation ……………………………………………………….52

References………………………………………………………………….54

Appendix A………………………………………………………….…….55

Questionnaires …………………………………………….……….…….56

 

CHAPTER ONE

INTRODUCTION

 

  • BACKGROUND TO THE STUDY

 

The struggle for Local Government Autonomy in Nigeria has been a recurring issue. It is as old as the history of Nigeria colonial state. Local government Administration practiced anywhere in the world is largely dependent on the historical, geographical, political and economic life of the citizens. Nigeria with a long history of slavery. Colonization, as well as military and civilian administration which have to a large extent determined the system of local government Administration up till date. This work intend accessing the various reforms or ordinance that the local government system in Nigeria has witnessed since 1914 during the amalgamation of the Northern and Southern protectorate by Fredrick Lord Laggard.

 

The Local Government during this period of 1914 is based on the Native Authority system whereby indirect rule and exploitation was the order of the day. According to Ogunna (1996), Native Authority is the traditional political authority at the Local Level which formed part of the machinery of British colonial government charged with the responsibilities of maintaining law and order. Based on the Native Authority ordinance of 1916, a unified Local Government System was established in the Northern part because of their Emirate system of Administration practice before the colonial Administration. This Native Authority was later extended to the East and South with varying degree of success. This native Authority did not satisfy the needs and aspiration of the local people and it arouse agitation from the rural citizens especially from the educated elites in the southern Nigeria craving or desiring for a greater participation in their own affair.

The Native Authority Ordinance failed because it has no autonomy to meet up with the demands of the citizen and as a result, the first Local Government reform was ushered in. Thus after the second World War in 1945, the colonial policies on Local Government changed coupled with the demands for greater participation and this led to the adoption of the representative or liberal democratic system of Local Government in the 1950s.

 

The 1950 Local Government reform serves as a foundation on which modern Local Government was built in Nigeria as it abolished the native Authority system. This reform paved way for the following features in Local Government system; it has a three tier system (country, district and local council), it was granted the power of taxation as a source of funding, it introduced popularly elected Local Government council but the franchise is based on tax payers and it equally recognize that the Local Government should be given adequate autonomy as the council were given financial and Administrative power. According to Ogunna (1996). This reform introduced representative democratic Local Government system on the negative side. It suffered from conflicts among the tiers, inadequate funding, poor staffing, bribery and mal administration. As a result of these problems coupled with intense politicking, no reform could be initiated until the military seized power in 1966 which rudely terminated the first republic. The 1966 Local Government reform was to correct the ills of the Local Government system they inherited.

 

However, all these reforms did not ensure a complete autonomy of Local Government system until the introduction of the 1976 Local Government reform under the military administration of General Olusegun Obasanjo. This reform marked a turning point in Local Government Administration in the country. This reform were the federal government response to the recommendation of Chief Jerome Udoji public service review commission of 1974. The reform aim to make the Local Government more effective in their primary role of bringing development to the grassroots. It established a multi-purpose single tier system throughout the country, with the same structure and function. Local Government were recognized as a third tier of government with the federal structure. It provided for the Local Government to receive their statutory allocation from Federal Government through the State

Government. They were democratized through popular or indirect election. The Local Government were given specific function to perform and enshrined in the fourth schedule of the 1979 constitution. Local Government were granted a relatively high level of autonomy.

From all indications, this reform is very important and distinct from other reforms and that is why Adamolekun (1979:3) has observed, what distinguished the 1976 Local Government reform from all the previous reform exercise in the country is the formal and clearly recognition of the Local Government as constituting a distinct level of government with definite boundaries, clearly stated functions and provision for ensuring adequate human and financial resources.

Despite all these constitutional provisions which granted the Local Government autonomy in all ramifications, there is still little or no development they have brought to the rural dwellers which ought to be their utmost share from the National cake.

At this juncture, the researcher is solely directed at accessing the impact, status, entity and autonomous existence of Nsukka Local Government in the development of their grass root.

1.1         STATEMENT OF THE PROBLEM

The rate of interference and control which the State and Federal Government put on Nigerian Local Government cannot be over emphasized. This which has eaten up the Local Government, does not only affect the Local Government Chairmen and Councilors but as well as the local people who feel neglected in the National cake, resources, and revenue allocations, the high rate of over dependency by the Local Government on the federal and state Government in terms of finance administration. Some Authors, scholar and Administrator argue that this tier of government should be scraped away irrespective of it’s constitutional and legal frame work.

To the Chairman and Councilors, it posses a problem as regards to law making, policies and implementation functions allocated to them by the constitution.

Administratively, the personnel and human resources management of the Local Government in term of recruitment, promotion, security and disciplines staff within it’s area of jurisdiction is not free and fair. The State and Federal Government control them through the introduction of the integrated staff system.

Financially, Local Government do not enjoy autonomy. Their freedom to impose local taxes, generate and allocate revenue within it’s assigned source, allocates it’s financial and material resources, determine and authorize it’s budget is greatly influence by both the Federal and State Government. The statutory allocation which they receive through the State -joint Local Government Account is highly hampered by the State Governors.

Therefore, it is these view that the researcher deem it necessary to examine and access how autonomous Nsukka Local Government Area of Enugu state is in relation to grass root development.

  • PURPOSE OF THE STUDY

The main objectives of this research work is to determine how Local Government Autonomy has affected the grass root development in Nsukka Local Government Area of Enugu State.

However, in specific terms, the study is based at the following points:

I       To acertain whether the process of law making and policy implementation by the Councilors and Chairmen affects the grass root development of Nsukka Local Government Area.

ii      To determine how the personnel Administration of Nsukka Local Government Area hampers it’s grass root development

iii     To determine whether State interference in the financial allocation of Nsukka Local Government affects it’s grass root development.

1.3   RESEARCH QUESTION

The following research questions has been constructed as a guide to the success of this research work in order to obtain a useful result.

I       To  what extent has the process of law making and policy implementation by the Councilors and Chairmen affects the grass  root development of Nsukka Local Government Area.

ii      To what extent has the personnel Administration in Nsukka Local Government hampers it’s grass root development.

iii     To what extent has the State interference in the financial allocation of Nsukka Local Government affects it’s grass root development.

1.4   STATEMENT OF HYPOTHESIS

Ho:   Law making process and policy implementation by the Councilors and Chairmen does not affect the grass root development of Nsukka Local Government Area.

Hi:    Law making process and policy implementation by the councilors and chairman does not affect the grass root development of Nsukka Local Government Area.

Ho:   The personnel Administration of Nsukka local government does not hamper it’s grass root development.

Hi:    The personnel Administration of Nsukka local government does not hamper it’s grass root development.

Ho:   The State interference in the financial allocation of Nsukka Local Government does not affect it’s grass root development.

Hi:    The State interference in the financial allocation of Nsukka Local Government does not affect it’s grass root development.

  • THEORETICAL FRAMEWORK

The researcher employ General system theory in the course of this work.

This theory has so many writers on it such as Almond (1960), Easton (1965), Adamolekun (1983) and Offiong (1996). This theory argue that every system, including political system has a sub-system, including political system has a sub-system which make up the entire system. They have assigned function and provided with enabling empowerment, including resources, appropriate authority that enable them discharge their responsibility optimally.

 

Applying this brief exposition of the political system analysis to the Nigerian local government system, the local government in the country constitute the sub-system. They must be handled well in terms of being fed with adequate inputs (that is resources and appropriate authorities) as provided in the constitution of the federal republic of Nigeria so that they can contribute appropriately to the goals of Nigerian political system as well as it’s stability. Form these, it is very useful to realize the importance of the general system theory in handling Local Government Autonomy in Nigeria.

They has been assigned with responsibilities to perform which benefit the people, not as part of Federal or State Government. So, if Local Government is not treated as a sub-system, it will bring frustration to the performance of their function and on the long run bring dissatisfaction among the rural people and their National cake will be neglected too.

  • SIGNIFICANCE OF THE STUDY

This research work would be of benefit to the rural people in Nsukka Local Government of Enugu State. At the end of this work, the rural people will be able to enjoy their constitutional right which is rural development and when such is granted to them, they will no longer feel neglected in the National cake which has been their utmost need from the Local Government.

For scholars, researchers and Authors, they could also use or gather information to review this work and also use it as a reference to any related work they are writing since this work is reliable and validated.

1.7   SCOPE OF THE STUDY

Local Government Autonomy and Grass root development. A of study of Nsukka Local Government Area of Enugu State.

1.8   LIMITATION OF THE STUDY

The researcher encountered so many constraint while carrying out this research work. The problems and the solutions are as follows: lack of power supply by the Enugu electricity Distribution Company (EEDC) Since power supply has been a serious problem in Oko community, the researcher re-schedule reading at night to day time so as to avoid the problem of power supply.

Lack of fund: This problem was solved as it propel the researcher to borrow money from friend and families to supplement the cash saved before this work.

Lack of time: The researcher adjusted most of it’s programmes that does not add any value to the success of this work.

Lack of material: Since there is no sufficient material for the research work, the researcher joined a study group were most of the problems confronting the work is discussed and settle. The researcher equally made out time to visit the cyber café for more information so as to supplement the information gotten from study group.

These are the problems encountered by the researcher and how the researcher equally over come it so as to make this work successful.

 

1.9   DEFINITIONS OF TERMS

The following terms are used in this study which have unique meaning that could be subjected to different meaning form different persons; are defined as follows:

GOVERNMENT: It is a machinery through which the will of a State (country) is formulated expressed and attained

AUTONOMY: It is the freedom for a country, a region or an organization to govern itself independently; the ability to act and make decision without being controlled by anyone.

REFORM: This means the improvement or amendment of what is wrong, corrupt and unsatisfactory.

ORDINANCE: It is a degree or law promulgated by a state or National Government without the consent of the legislature such as for raising revenue through new taxes or mobilization of resources during an emergency.

AUTHORITY: It is define as the process or right to give order and enforce obedience.

ALLOCATION: It means an authorization to incur expenses or obligation up to a specific amount, purpose and within a specified period.

ENTITY EXISTENCE:  A Government or organization is said to be an entity if it has the ability with essential corporate power, names to engage into contract, sue and be sued and acquire properties.

DEVELOPMENT: It means a process in whitish something passes by degree to a different stage (especially a more advanced or mature stage).

GOVERNMENT AS A TIER: A government character and entity existence.

NATIVE: Characteristics of or existing by virtue of geographic origin.

ADMINISTRATION: Is all about getting things done with co-coordinated effort of man using effective use of other available resources to get things done.

PERSONNEL MANAGEMENT: It is that part of management process which is primarily concerned with human constituents in an organization.

CONSTITUTION: It is a whole body, fundamental laws, custom belief etc according to a particular state operation.

 

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LEADERSHIP AND MOTIVATION AS ESSENTIAL TOOLS FOR ORGANISATIONAL GROWTH AND EXPANSION

LEADERSHIP AND MOTIVATION AS ESSENTIAL TOOLS FOR ORGANISATIONAL GROWTH AND EXPANSION ( A CASE STUDY OF UNION BANK PLC, ABA)

 

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ABSTRACT

(People entering employing organization) go into these organization with a lot of expectation in mind, in most cases, they (seek) good salary and other motivational factors if they are to be retained in the organization these motivation. Job security, efficient medical services, pension scheme, recognition, transportation, housing, good working condition, promotion among others. Where these leadership appear adequate and meet the expectation of staff. They are retained. Apart from its ability to retain the staff, good leadership system is also capable of motivating work to put in their best in the performance of their efforts are adequately rewarded. Absence of good reward would bring about decline in performance, which will automatically effects the organizational growth in order to get the best out of staff, banks try to motivate their staff in such a way that they are motivated to perform at their best so as to increase the growth of their organization there by entiancing profit. It is in recognition of these facts that we want to examine the leadership and motivation of union bank Plc, using their branch at Aba as a case study to find out if staff are well motivated so as to enable it compete favourably with other financial / institutes / Banking industries in the country and the researchers findings pointed to the fact that leadership and motivation bring about the growth of an organization.

 

TABLE OF CONTENTS

CHAPTER ONE: INTRODUCTION

1.1      Background of the study

1.2      Statement of the problem

1.3      Objectives of the study

1.4      Research questions

1.5      Research Hypotheses

1.6      Significance of the study

1.7      Scope and limitations of the study

1.8      Definition of terms

 

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.0      Introduction

2.1      Non-financial motivation

2.2      Philosophies of human nature and motivation

2.3      Expectancy motivation theory (Victor Vroom)

2.4      Situation / contingency theory of leadership

2.5      Motivation of the Nigeria worker

2.6      Summary of review of related literature

 

CHAPTER THREE

RESEARCH METHODOLOGY

3.0      Introduction

3.1      Research Design

3.2      Area of the study

3.3      Population of the study

3.4      Sample and Sampling technique

3.5      Methods of Data collection

3.6      Methods of Data Analysis

 

CHAPTER FOUR

PRESENTATION AND ANALYSIS OF DATA

4.0      Introduction

4.1      Analysis of questionnaire

4.2      Result of testing of hypothesis

 

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1      Restatement of the problem

5.2      Summary of findings

5.3      Conclusion

5.4      Recommendations

5.5      Suggestion for further study

References

Questionnaire.

 

CHAPTER ONE

INTRODUCTION

 

1.1     BACKGROUND OF THE STUDY

The most important human activities is leadership questions and motivation, ever since people began forming groups to accomplish aims, they could not achieve their aims as individuals. Leadership has been essential to ensure the coordination of individual efforts. A society has come to rely increasingly on group efforts and as many organized group have become large, the task of leaders has been rising in importance.

Leadership we know have no universal definition some leadership scholars have defined it according to their views.

Therefore leadership could be seen as a social influencing process for the attainment of goals. A leader is the most influential person in an organization who provides direction, guides group activities and ensures that group objectives are attained (Nwachukwu, 1999:146) furthermore he saw leadership as a process where one person exerts social influence over the members of a group.

Motivation are those various reason why people work, may be to earn respect among associate to earn salary and wages to acquire prestige and honour. In all these variety of reasons, culture seems to be a determing factor what actual make the between healing and sick organization and the worker. According to Howell and Dipboye (1982) they mostly depends on organization ability to discover sustain and meet the workers need.

Therefore motivation can be seen as what ever thing that makers a person to bring out his or her best.

Management is the process of utilizing resources of a firm that accomplish designated objectives.

  1. PROFILE OF UNION BANK PLC, ABA

Union Bank of Nigeria Plc was established in 1917 as a colonial Bank with its fist branch in Lagos. In 1925, Bardays Bank acquired the colonial Bank, which resulted in the change of the Bank’s name to Bardays Bank (Dominion colonial and overseas). Following the enactment to be incorporated locally, Barclays Bank (D.C.O) in 1969 was incorporated as Barclays Bank of Nigeria Limited. The ownership structure of Bardays Bank emained un-changed until 1971 when 8.33% of the Banks shares were offered to Nigerians in the same year, the Bank was listed on the Nigerian stock exchange. As a result of the Nigerian Enterprises Promotion Act of 1972, the federal government of Nigeria acquired 51.67% of the Bank shares, which left Bardays Bank Plc, London with only 40%. By the enactment of the 1972 and 1977 Nigeria Enterprises promotion Acts, Bardays Bank International disposed its share holding to Nigeria in 1979. To reflect the new ownership structure and in compliance the name Union Bank of Nigeria Plc.

Union Bank Group operates an interlocking organizational structure whereby some board members of union Bank of Nigerian Plc act as external directors in subsidiaries and associated companies. This arrangement, ensures effective oversight and participation in the decision making process of these companies thereby safeguarding the Banks investments.

1.2     STATEMENT OF THE PROBLEM

Management of organization have over the years been faced with a lot of problems which have in one way or the other hindered organizational growth and development some of these problems could be seen as follow: indiscipline of workers, high rate of absenteeism, high labour turn-over, job irritability, lack of motivation and reduced productivity.

INDISCIPLINE OF WORKER: This has contributed a lot to the problems of organizations. Some workers have been found in the habit of disobeying simple instructions from their superiors, which in one way or the other jeopardize organizational growth and development.

HIGH RATE OF ABSENTEEISM:- The rate at which workers absent themselves from duty without permission from the appropriate authority for reasons best known to them have really pose a problem on management of organizations.

HIGH LABOUR TURN OVER:- The rate at which people go out of an organization (skilled and unskilled workers) is also a problem which have retard productivity in many organizations.

JOB IRRITABILITY: This may come as a result of tiredness of the job, due to lack of enthusian on the said job. This is also a problem to organization.

Lack of motivation:- eg low pay, poor performance appraisal lack of staff training and lack of staff promotion will retard workers from doing their work effectively and efficiently since their efforts are not rewarded as at when due.

REDUCED PRODUCTIVITY: This is also a problem to management of organization. When productivity is reduced, an organization tends to suffer.

1.3     OBJECTIVES OF THE STUDY

The researcher tends to find out the effects of leadership and motivation in management of organizations she find out this research work in order to know the effect of autocratic and laisser faire styles of leadership on workers productivity and how best to boast employees morale and increase their sense of belonging which in turn will lead to increased productivity in organization. She tends to discover how best leadership and motivation will minimize the problems encountered by organizations. This study aims at determing the clausable course and effect relationship by observing existing consequences and then reflecting back on the data so collecting clause able courses e.g A researcher. Who wants to find out the effect of class size on the performance of students should compare the class size of some years and corresponding the over all performance of the class for several group, this involves an investigation past event, development and experiment. Investigation comprises a thorough evaluation and analysis of evidences in order to establish facts.

One which sees to abstain how some dimension valuables or characteristics of a given population change with time. The study attempts to describe the nature and degree of growth maturity and valuations in behaviours among members of the group.

1.4     RESEARCH QUESTIONS

This research project tends to answer the following questions.

1)      What are the effect of leadership and motivation on management of organizations?

2)      Does the type of leadership practiced affect employees morale and consequently their output

3)      Is there any effect of employee’s behavior on organizational productivity?

1.5     RESEARCH HYPOTHESIS

A hypothesis is a proposition assumed for the sake of argument or a theory to be proved or disproved by to facts. It is an assumed answer to a problem. It is also a guide to a research work.

H01: Lack of motivation in organization does not lead to low productivity.

H02: The type of leadership an organization practiced does not affect employee’s morale and their output.

1.6     SIGNIFICANCE OF THE STUDY

The significance of this research work lends creduce to this exercise. It serves as an enlightenment to management of organizations on how best to boost the morale of their employees through motivation which in turn increases their sense of belonging and their output. This work will also serve as a panacea to management of organizations in arriving at dependable solutions to management consultants. This work will serve as a guide to political leaders on the type of leadership style they will adopt, which will faster peace and stability in the society.

This work will serve as a guideline for future researchers to critically examine the concept of leadership and motivation on effective management f organization. This work is also significant to the researcher for the fulfillment f the award of the High National Diploma.

1.7     SCOPE AND LIMITATIONS OF THE STUDY

This research work is restricted to the office of Union Bank of Nigeria Plc, Aba branch. It is limited to the effect of leadership and motivation in management of organization. All thing been equal, the researcher would like to cover as much area as possible but it is impossible because of some circumstances, which was beyond his control.

The constraints could be seen as follows: Finance, lack of time due to the tight schedule of academic calendar, unwillingness of some of the respondents to answer questions, posed by the researcher, rainfalls which restricted the researchers movement and act of God. All these place limitation on the extent the researcher can go.

 

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1.8     DEFINITION OF TERMS

1)      Motivation: Can be defined as a process of the reason one does or behaves in a particular way. He is motivated entirely by self interest. To make what to do especially that involves hard work and effort.

2)      Organizational: Can be defined as a group of people who from a business, club, etc. together in order to achieve a particular aim. To work for a business (political) voluntary organization, the world health organization. He’s the president of a large international organization.

3)      Leadership: It state or position of being a leader. Leadership it is the ability to be a leader or the qualities a good leader should have: leadership qualities / skills, strong leader is needed to captain the team. A group of leaders of a particular organization, etc.

4)      Growth: It is the process (of people animals or plants) the process of growing physically, mentally or emotionally, lack of water will stunt the plant’s growth. Remove dead leaves to encourage new growth a concern with personal (mental and emotional) growth and development, growth hormones designed to make grow faster.

5)      Management: The term management has been used in different way’s to describe an essential aspect of organizational activities which determine how people should work and the materials to be used in achieving organizational goals.

6)      Business: The term business has been generally defined as an occupation, task or duty which a person undertakes to earn a living.

7)      Economic system: The economic system determines the pattern of ownership of factors of production and economic resources and the production and distribution of goods and services.

8)      Organizing: Is defined as involving the determination of activities to be performed in order to achieve goals.

9)      Communication: Is the medium through which information is passed. In essence, to communicated is to pass information. Information is anything that reduces or eliminates the uncertainty in any given situation. Information is needed by everyone working in an organization to do his or her duty very well.

10)    Information system: Is a set of resources man, materials and procedure defined to attain information goals within a socio-economic environment which produces and utilizes the system as tool for development (Hayes, 1975).

 

CHAPTER TWO

REVIEW OF RELATED LITERATURE

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