ABSTRACT
This
research was embarked upon to gain institute into growth of indigenous firms in
Nigeria. This is specifically an
attempt to investigate the impart of indigenous firms among others. The objective are not only to acquaint
equitable growth for indigenous firm and also to cheek the problems and
prospects and to equally highlight its relevance among indigenous firms review
of relaxed literature and theoretical framework also is arranged in logical
sequence for the purposed of this study secondary sources, this data was
analyzed using simple percentage and chi square. The researcher also found out that the
growth of indigenous firms also affects the scope-economic growth of our
economy. It is clear to note that
indigenous firms have create impact on the country economy through export
promotion financial institution and industrialization development strategies.
Finally,
the summary of findings conclusion and recommendation where not left out, they
are expected to serve as a basis for further researchers.
TABLE
OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.1
General
Background to the Subject matter
1.2
Problem
Associated with the Subject Matter
1.3
Problem(s)
that the Subject will be Concerned with
1.4
The
Importance of Studying the Area
1.5
Definition
of important Terms
1.6
Reference
(using APA Method0
CHAPTER TWO: LITERATURE
REVIEW
2.1
The
Origin of the Subject Area
2.2
School
of Thought within the Subject Area
2.3
The
School of Through Relevant to the Problem of Study.
2.4
Different
method of Studying the Problem
2.5
Summary.
2.6
Reference.
CHAPTER THREE: CONCLUSION
3.1
Data
Presentation (high light of the study)
3.2
Analysis
of the Data
3.3
Recommendation
3.4
Conclusion
3.5
Reference.
CHAPTER
ONE
INTRODUCTION
1.1
GENERAL BACKGROUND TO
THE SUBJECT MATTER
One of the major economic backwardness of
the most third world countries like Nigeria is the over prolonged sojourn of
private foreign divestment in them.
The predatory exploitative orientation and activities of foreign
monopoly capital, it inherent tendency to resist and hamper local
industrialization and to perpetuate merchanitte capitalism and its
determination and deliberate efforts to retard the growth of endogamous
entrepreneurship all this have heavily influenced Nigeria economic history for
well over a century.
This foreign dominance of commercial
activities in Nigeria was made possible by restrictive practices employed by
the established merchant firms. It is
important to note that commercial banking is a major source of credit (capital)
was solely owned and controlled by foreign elements. Their policies were made towards satisfying
the needs of foreign enterprise, indigenous entrepreneurs merely subjected on
the crumbs that fell on the gable.
(Ezeigwe .J. O) Nigerian government in
the 1950s operated mainly an open door policy which attempted to live foreign
investors into the country.
After the civil war, experiences showed
that the issue of indigenous participation in the Nigerian economy once can be
re-opened. The dubious role played by
foreign investors at various stages of the civil war and the acute shortage of
essential commodities at the same period and the spirally inflationary trend
that followed post war reconstruction and rehabilitation programmes had
contributed to inform the government that there was the necessity to allow the
indigenes of Nigeria and government a hand in deciding their economic
fortune. The government was further
persuaded by radical agitation of the politician s and the masses to do
something about their economic difficulties.
With these pressures and economic difficulties
mounting higher and higher, the government decided to whittle down foreign
dominance of the economy on 23rd February 1972, the military
government promulgated the Nigeria enterprise promotion Decree No. 4 of 1977
popularly known as the indigenization decree the following were the objectives.
a)
To
create opportunity for our people
b)
To
raise the proportion of indigenous firms and ownership of the productive
sectors of the economy.
c)
To
maximize local retention of profit
d)
To
involve more Nigerians in the management and decision making process of
business enterprises. All in an effort
to enhance indigenous growth of Nigeria firms.
1.2
PROBLEMS ASSOCIATED
WITH THE SUBJECT MATTER
A number of problems have been identified
as being responsible for the backwardness and retardation in the general growth
of Nigeria indigenous firms the persistent set back in the growth of the
indigenous firms have been assumed to center on the followings: Inadequacy of capital, poor technological
manpower deficiency, mass illiteracy, management incapability and marketing in
competency (National and internationally) etc there are many more that form the
cove problems of the growth of our indigenous firms.
It is the intention of the researcher
therefore to take a critical examination of the internal and external factors
affecting the growth of our indigenous firms.
There is a general contention that the
rate of growth of our indigenous firms, especially since the pushing aside of
the aliens, has been sow. This
statement in the growth of indigenous firms in Nigeria, problems and prospects
will be investigated and possible recommendation given as to the solutions.
1.3
PROBLEMS THAT THE
STUDY WILL BE CONCERNED WITH
A lot of obstacles and limitation were
encountered by the researcher during the course of this work. Some of these problems are personal
handicaps of the research such as time constraints and money, others are
general or societal belief that the activities of their firms remain secret this
is why respondents refused to give the researcher maximum co-operation on the
question given and interview conducted.
On personal handicap, the problem of
transport fore drastically reduced the sample size of the number of firms
covered. However, some efforts were
made to cover some reasonable number of firms.
Time constraint did not allow me to cover all the places mapped out for
study.
Lack of co-operation from respondents was
a very serious problem and disturbing case in the study, the bureaucracy
involved before an information could be supplied in some organization is
cumbersome and costly that not every researcher can hold to the patience. Some of these respondents misplaced
questionnaire given to them while others returned theirs unfilled.
Many of the literature fill short of the
vital information as required especially as its currently the activities and
growth of the Nigeria firms. These and
many more others were the factors militated against this study.
1.4 THE IMPORTANCE
OF STUDY THE AREA
The
researcher will pinpoint the capital requirement of the growth vitiating factor
which at times have been typically believe to be very small. Therefore the significance of this study is
as follows:
1) To identify the problems that are being
faced by indigenous firms in Nigeria.
2) To render possible solutions to the
problems for use by the indigenous firms managers in Nigeria.
3) To examine the attains of some public
establishments and the activities of their officers in terms of investment,
capital formation and cost control.
4) To letter the future of Nigeria viesli
export or self-reliance.
5) To existing firms were viable.
6) To economy of Nigeria was bitter managed
in the hands of the foreigners than now that it is managed by Nigerian.
1.5 DEFINITIONS OF
IMPORTANT TERMS
MONOPOLY: Means
the sole right to trade on a particular goods or services.
CAPITAL: This
means wealth or property that can be placed to produce more wealth.
INVESTORS: it means group of
persons or organizations that invest a business venture.
ECONOMICS: The production principles and distribution of goods and services
and the development of wealth.
INFLATIONARY: This means the persistent and continuous rise in prices and
wages caused by increase in money supply and demand for goods and resulting in
a fall in the value of money.
FIRMS: Means
business company or an organization.
MERCHANT: Person
involve in trade or commerce.
SECTORS:that
parts or branch of a particular area of activity especially of a country’s
economy.