This work aims at satisfy those who have interest in banks participation in the industrial development of Nigeria, especially the bankers throughout the world who are involved in financing industrialization process.
For the purpose of the study, the researcher used the following methods in collecting data to enable her carryout an effective study. Related literatures were received, Primary and Secondary data such as oral interviews, news, newspapers, Journals, CBN Bullion were used. These were not enough to supply the information needed and to that effect, the researcher made use of questionnaires, which she designed and distributed to the staff of banks that are currently participating in the industrial development of Nigeria and the general public to test hypothesis, using Chi-Square as a test techniques.
From the questionnaire collected the researcher made these major findings:
-That banks can participate extensively in financing of industria
l development in Nigeria.
Introduction …………………………………………………………………..
Hypothesis of the study, Research Tool And Procedure, Source of data and Limitation of study…………………………
Hypothesis of the study……………………………………………..
Methodology of the study……………………………………………
Sources of data………………………………………………………..
Limitation of the study……………………………………………….
5.3A Recommendation………………………………………………………..
5.3B recommendation for future Scholars
For any country to attain any degree of industrialization, it must have to over-come some series of obstacles and difficulties and it has to depend some how on some financial institutions to facilitate the industrialization.
This research work is then designed to investigate the banks participation in the industrial development. A country becomes famous among other countries of the world when it has been able to attain a remarkable degree of industrialization.
The aim of this study is to investigate how and the level of participation of the banks to the industrial development of Nigeria, hence to determine the impact of financial institutions on the industrial growth in the country. This study will also investigate on the gains and losses of this banks that participate in one ways or the other to industrial growth. And why some financial institution developed cold feet in participating in industrial development.
This, this is an attempt to draw the mind of every Nigeria to this question below.
- How far has our country advanced in industrial development through the assistance of bank?
Industrialization means the development of country through industries; A developing country like Nigeria is characterized by a high degree of subsistence production. Whether a country developed or not depends on the existing level of wealth and material welfare. The measure of development of any country is based on its per capital income i.e dividing net national income by the total population to get per capital income.
The banks has a major role to play the development of any industry and the nation at large. This impact of banks to the industrial development ranges from loan assistance, financial advices and other areas which the bank may assist. That is why it is pertinent to research into industries to know how far they have gone in the development of Enugu State, and suggest more possible ways the bank could help more to our nation
of this country through Bank Participation, since the study focused on its activities. It will help the Management to know the problems faced by industrialists in Nigeria in obtaining funs and see how best to assist in the circumstances like this.
The industrialists will equally gain from the study to express their own views on how they see the role played by banks to their development in Nigeria.
Finally, academicians will also gain from the study, it will serve as reference material to them and will enhances their views on industrial growth in Nigeria.
developed respective sectors in the economy and they are
developments banks, Commercial banks for Commerce and
industries, Merchant banks, Agricultural development banks and other. Nigeria’s engagement in economic activities is on a subsistence basis e.g Agriculture, Poultry, Fishing, Weaving and Mining etc. These are small and medium Scale industries.
The above mentioned banks are given credit guideline by the Central bank of Nigeria (CBN) on how to lend to the industrials and these guidelines are not normally adhered to by these banks with reasons. The 1972 indiganization decree was necessary so as to direct financial institutions through Central Bank of Nigeria (CBN)’s credit guideline to extend certain percentages of their total loans and advances to indigenous borrowers to promote industrialization. Banks have their reasons for inadequate credit to small scale and medium size enterprises like;
Also problem may arise when there are stipulations for small Scale industrialists to meet certain requirements before they are granted loan. One of the identified problems with credit facilities more especially the ones obtained from commercial banks to the individualists, it’s short-term nature and high interest rate, which will not enable the individual have enough time to recoup the funds invested e.g investment on farm implements lime tractors and lorvesters e.t.c. To recoup the money invested on these implements will take some time because they are capital investment and need a long tenure of repayment.
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