BEFORE YOU READ THE ABSTRACT OR CHAPTER ONE OF THE PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!
INFORMATION:
YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL PROJECT COSTS N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08068231953, 08168759420
WHATSAPP US ON 08137701720
DRAMA AS A TOOL FOR SOCIAL CHANGE
TABLE OF CONTENTS
Title Page – – – – – – – – – – i
Certification – – – – – – – – – ii
Dedication – – – – – – – – – iii
Acknowledgement – – – – – – – – iv
Abstract – – – – – – – – – – vi
Table of Contents – – – – – – – – vii
CHAPTER ONE
1.1 Introduction
1.2 Scope of Study
1.3 Research Methodology
1.4 Justification of the Study
1.5 Definition of Terms
CHAPTER TWO
2.1 Literature Review
CHAPTER THREE
3.1 Analysis of Social Background
3.2 Thematic Pre – occupation
3.3 Plot Structure
3.4 Language
3.5 Character Delineation
3.6 Message
CHAPTER FOUR
4.1 Social Issues in the Video Film
4.2 Drama as a Tool for Social Change
CHAPTER FIVE
5.1 Conclusion
5.2 Recommendations and Suggestions
Work Cited
CHAPTER ONE
1.1 INTRODUCTION
Drama is a formidable force in the transformation and restricting of society. Its entertainment attribute notwithstanding, drama plays a great role in education: hence it fosters knowledge. In the view of Francis Bacon (1561 – 1626) in Religious Meditations
The goal knowledge is the good of mankind; therefore knowledge itself is power (789:1597)
This shows that drama has power to educate and inform. The relevance of drama is often measured by how well it mirrors the realities of its society. Its importance can also be measured by its ability to point the way forward to higher ideals. That is to say, drama can be a tool for examining the conscience of society, as well as a tool for restructuring it (society) to achieve such higher ideals. Talking about the values of self-criticism Socrates (469-399 B.C.), a great philosopher states:
Man, know thyself for an unexamined life is not worth living, but true wisdom begins with realization of man’s ignorance. (44:1994)
It is thus, the intention of this research work to look at the issues of drama as a tool for instigating change in society. Indeed drama aims at imparting positive behavioral changes, however, one cannot rule out the negative influences unconsciously passed on.
1.2 SCOPE OF THE STUDY
This study covers issues concerning drama and its use to foster changes in society. This it does through the chosen video film titled Living Dead by Ekenna Udo-igwe. Chapter one clarifies key terms used in the research work, the methodology adopted and the justification of study. Chapter two reviews relevant literatures, chapter three is the analysis of the drama under study, its social background, its thematic preoccupation, and plot and language structures while chapter four examines the core issue of drama as a tool for change in society. Chapter five is the conclusion. It summarizes the recommendations and suggestions on the way forward.
1.3 RESEARCH METHODOLOGY
During the process of this research project; information will be drawn from the library and journal publications. Other allied sources for information are the internet relevant dramas.
1.4 JUSTIFICATION OF STUDY
The research project actually seeks to show how drama has contributed to change in the society. That is change in our communities, families, schools and even in our everyday life. From the inception of theatre in Nigeria, drama has always played a prominent role in creating public awareness to conscientize the masses on women emancipation, female genital mutilation, youth violence, and HIV/AIDS and widowhood rites etc. these contributions of drama have helped to shape our cultures and reflect on the lives of people in the society.
It is hoped therefore, that the findings will not only exposes the unacceptable practices but also will foster a positive action toward the appropriate use of drama in building a better society and instigate national consciousness.
1.5 DEFINITION OF TERMS
In a research work of this nature, it is proper to begin by clarifying terms and concepts in the context of their usage. Thus the terms drama, social change and culture are clarified below
Drama:
The word drama is derived from the Greek word dram, which means “to do”. Drama is defined as an imitation before an audience. Drama could be defined as activities that take place in the course of creating an imitative performance. These activities include acting dancing, miming and technical activities etc. that aids the creation of such performances. Drama is man’s attempt at imitating the ideas of nature for the entertainment and instruction of his fellow man. Talking about drama, Oscar Brockett says:
…a play is a representation of “man in action”. But action does not mean mere physical movement; it involves the psychological motivations that lie behind visible behavior. “Man in action” therefore includes the whole range of feelings, thought and deeds that define what sort of creative man is – what he does and why he does what he does (23:1980)
From the above definition, drama implies the enactment of life’s situations or man’s behavior in trying to seek meaning to certain situations in life. In the same way Margorie Boulton sees drama as literature that talks and walks before an audience or our eyes. According to him:
A play is not really a piece of literature for reading. A true play is three-dimensional; it is literature that walks and talks before our eyes (3:1960)
In other words, a play is meant to be translated or transformed into sights, sounds and actions, which may occur literally and physically on stage before an audience. Kenneth Cameron and Patti G. are of the opinion that a play is an art of impersonation, which is presented before an audience. In their words:
Drama is an art in which the performer by impersonation represent or embody imitations of people in a story that is shown to an audience (18:1980)
SOCIAL CHANGE AND CULTURE
Looking at the concept from a sociological viewpoint, M.I. Defleur cited in Ekpenyong defines social change as:
… The organization of specific group within a society or even of the society itself (190:1998)
For Karl Marx, social change can come only through social conflict and this change in society is largely influenced by the contradiction in the economic system and class distinction. This view is in sharp contrast with that of Max Weber who sees change as multifactorial. That is, it can occur for many reasons. New ideas, inventions, rise and fall of power etc. from Defleur et al’s definition, social change occurs as a result of alternations in the social organization of a group or society. Alternation in this case means that there are developments of new norms, the modification of role expectations, a shift of new types of sanctions, the development of different criteria for ranking and the introduction and use of new production techniques. Changes in one unit of social organization are usually accompanied by changes in some other and even the whole.
Social change comes in so many forms and rates and is a pervasive phenomenon in social life. Since the beginning of the twentieth century, change has been so rapid and pervasive in Nigeria that one can easily be persuaded that it is the stuff of life, that society like nature is in a state of ceaseless flux, and that change rather than persistent is the normal and natural condition of life. More so, not all social change denotes progress. War may bring about change but part of that change may be slow in progress for time.
In the same vein Moore E.W. sees social change as;
… the significant alternation of social structure that is, of patterns of social action and interaction including consequences and manifestations of such structures embodied in norms, values and cultural products and symbols (366:1968)
Culture according to J.D. Atemie is an embodiment of the totality of human existence. He further explained that culture is everything passed down from human society, except its biology, technology, language, laws and customs, beliefs and moral standards, and that apart from all these culture is the existence of humans. Atemie further remarks that:
Culture is the axis around which social life revolves as well as the context in which human existence makes meaning (1:1999)
Culture is learned not inherited: hence culture is the learned behavior of members of a given society. Here are some examples that explain culture from various angles. The first two are from anthropologists and the last a critic of the performing art. The definitions not only reveal what culture is, but also what culture does:
Culture is the socially acquired traditions and life style of the members of a society, including their patterned repetitive ways of thinking, feeling and acting (Harry: 1999)
For E.K. Hall (1976), culture is the medium evolved by humans to survive. The medium through all of life’s events must flow – we are culture (p. 4). Again, C. Geertz cited in O. Taylor (1991), reveals that culture can be best understood from a historical viewpoint. According him:
Culture is a historically transmitted pattern of meaning embodied in symbolic forms by means of which people communicates, perpetuate and develop their knowledge about attitude towards life (p. 18)
Finally all the above definitions of culture commonly agree with the notion that culture is a phenomenon that is learned. The creation of a more or less common culture occurs through communication. This includes mass communication. When we listen to radio dramas or watch stage, television or the movie dramas, meaning are being shared, constructed and maintained. Culture also undergoes social changes because many of the choices we make and the principles we set today are radically different from what they were in the past.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 7th September 2015 by DANIEL CHUKWUDI
Labels: DRAMA AS A TOOL FOR SOCIAL CHANGE: A CASE STUDY OF EKENNA UDO – IGWE’S LIVING DEAD PRODUCED BY EMMALEX PRODUCTION 2004.
0 Add a comment
EASY PROJECT MATERIALS
Classic Flipcard Magazine Mosaic Sidebar Snapshot Timeslide
Sep
14
BANK CREDIT AND PRIVATE SECTOR INVESTMENT IN NIGERIA: 1980-2007
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
BANK CREDIT AND PRIVATE SECTOR INVESTMENT IN NIGERIA: 1980-2007
ABSTRACT
This study have been able to analyze the effects that bank credit make on private sector investments in Nigeria. On research question one which borders on volume of businesses/transactions in the Private Sector, the study shows that Private investors expand their businesses through bank facilities. This could be achieved through expansion of space/office, purchase of large wears/stock and involvement in large scale operations. Table 4.2 shows that 40(62%) of the respondents agree that bank credit actually increase the volume of businesses of Private investors. Similarly, it was ascertained that operational efficiency can be achieved in the Private sector through acquisition of modern equipment, optimization of facilities and involvement in research and development. Table 4.3 shows that majority of the respondents (42%) maintain that to a great extent, bank credit leads to increase in operational efficiency in the private sector. Finally, on research question three which borders on increase in total number of private investments, it was found that growth in number of Private Investments can be achieved through Bank Credit. Table 4.4 shows that 42 (65%) of respondents share the opinion that Bank Credit relates positively with private sector investment in Nigeria. Based on the conclusions reached, the researcher recommends: the Central Bank should device a means of compelling, Banks to channel credit facilities to the private investors on soft terms, the regulatory agencies of the private sector should do well to sensitize investors on the benefits of credit facilities in business growth, the government and Central Bank should encourage the rural banking scheme as to provide credit facilities to rural investors. Based on the findings mad, the research conclude that: there is a significant relationship between Bank Credit and volume of transactions/businesses of Private Investors in Nigeria, there is a significant relationship between bank credit and operational efficiency in Private investment in Nigeria, there is significant relationship between bank credit and increase in total number of Private investment in Nigeria.
TABLE OF CONTENTS
Title page i
Declaration ii
Certification iii
Dedication iv
Acknowledgment v
Table of contents vi
List of tables vii
List of figures viii
Abstract x
Chapter One: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of the problem 2
1.3 Objective of the study 3
1.4 Research Questions 4
1.5 Research Hypothesis 4
1.6 Significance of the study 5
1.7 Scope and Limitation of the study 5
1.8 Definition of the Terms` 6
References 7
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction 8
2.2 Origin and Objectives of Credit in Banks 8
2.3 Bank credit in Nigeria, types interest and control 10
2.4 Factors affecting bank credit in Nigeria 13
2.5 Central bank of Nigeria (CBN) credit police guidelines 15
2.6 Management of credit administration and policy 19
2.7 Review of credit policies in Nigeria (1980-2006) 21
2.8 Challenges and prospects of private sector
investment in Nigeria 32
2.9 Credit delivery channels in Nigeria 35
2.10 Factor acting as barriers and limitations
to credit delivery 39
2.11 Investment 40
References 42
CHAPTER THREE METHOD OF STUDY
3.1 Introduction 44
3.2 Research design 44
3.3 Population of the study 44
3.4 Sample and sampling procedure 45
3.5 Data collection method 45
3.6 Questionnaire design 45
3.7 Data analysis technique 46
Reference 47
CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA
4.1 Introduction 48
4.2 Presentation of data 48
4.3 Testing of hypothesis 51
4.4 Discussion of finding 55
Reference 57
CHAPTER FIVE: DISCUSSION, CONCLUSION AND RECOMMENDATIONS
5.1 Introduction 58
5.2 Discussion of findings 58
5.3 Recommendations 59
5.4 Conclusion 60
5.5 Suggestion for further studies 60
Bibliography 61
Questionnaire 62
LISTS OF TABLES
Table 4.1: Response rate of questionnaire 48
Table 4.2: Respondents view on bank credit and
increase in volume of businesses in private sector 49
Table 4.3: Response from bank credit customers 49
Table 4.4: Response from private sector 50
Table 4.5: Test data table for hypothesis I 51
Table 4.6: X2 Computation for hypothesis I 52
Table 4.7: Test data table for hypothesis 53
Table 4.8: X2 Computation for hypothesis II 53
Table 4.9: Test data table for hypothesis III 54
Table 4.10: X2 Computation for hypothesis III 54
LIST OF FIGURE
Fig:2.1 Growth in total credit and credit to private sector 27
Fig:2.2 Banking sector lending rate (prime) 1980-2006 28
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The flexibility, adaptability and regenerative tendencies of the private sector to propel economic development have made the sector a pivotal focus for government industrial development efforts.
The sector is seen as the bedrock of industrialization based on its expected impact and potential contribution towards a diversified production base. Its accelerative effect in achieving macro-objectives such as full employment, income distribution, development, of local technology as well as diffusion of management skills stimulation of indigenous entrepreneurship have been well documented in economic development literature.
Presently, the Nigerian government, like other counterparts, world over is placing much emphasis on the growth of private sector. There is, presently, a renewed effort to encourage private participation in economic activities. It is a foregone conclusion that private investors are the bedrock of national economic development. At least they retain a competitive advantage over public sector by dispersed local market.
In recognition of the many benefit of private sector investment to national development, the Nigerian government had put to place a good number of policies aimed at encouraging the sector. The concept of private sector investments, their roles, characteristics and operational dynamics are not focus of this study. The research however, concentrates on examining the impacts of bank credit on the performance of the sector within the period 1980-2007. In the past, several scholars (Nwabueze, 1990; Partker, 1994; Harty and Partker 1991) have conducted studies in the area of Private Sector. These studies, however, concentrated on justifying the need for government support and commitment to the sector. Little or nothing have been done in the area of the place of bank credit in the sectors operations. These have left a serious vacuum in the literature of financial and economic studies. It is this identified gap in literature that this study seeks to cover.
1.2 STATEMENT OF THE PROBLEM
It is undisputable that the government has no moral right to go into serious business because it lacks the necessary rudiments to run such business. The government stated in 1996 budget that the public sector would be seen as the provider of an enabling environment for the Private Sector to meaningfully contribute to the overall growth of the economy (Awujo 1996). Such categorical statement entails that total support and encouragement should, naturally, be accorded to the sector.
It is noteworthy however that majority of the investment in the Private Sector are in the area of small and medium scale enterprises (SMEs). This sub-sector, no doubt, has been beclouded by Myriads of problems over the years in the country. Though the government had in the past established a number of specialized credit financial institution, in addition to the use of credit guidelines by the Central Bank, the private sector still suffer lack of credit. This is because most banks prefer to be penalized given the uneconomic nature of most businesses.
Similarly, the private sector can only make the desired impact in an economy if there are sustainable development in the areas of volume of transactions/businesses, operational efficiency and increase in number of investors. These indices can only be attained when the financial sector of this economy provide the desired credit facilities. Where the desired financial support is lacking, the operators in the private sector can only operate below optimum level.
The resultant effect is stagnation in the economy and the public sector do of have the “Muscle to shoulder the load alone. This study therefore, looks at Bank Credit vis a vis Private Sector Investment within the period 1980-2007.
1.3 OBJECTIVES OF THE STUDY
This study is designed to exam how bank credit affect Private Sector investment in Nigeria. The specific objectives therefore are to:
1. Examine if Bank Credit influence the volume of transactions/businesses of private Investors in Nigeria.
2. Determine whether Bank Credit leads to operational efficiency among Private Investors in Nigeria.
3. Ascertain whether Bank Credit gives rise to increase in total number of private Investments in Nigeria.
1.4 RESEARCH QUESTIONS
This study is guided by the following questions:
1. To what extent has Bank Credit influenced the volume of transactions/businesses of Private Sector Investors in Nigeria?
2. To what extent has Bank Credit led to operational efficiency in Private Sector Investments in Nigeria?
3. To what extent has Bank Credit given rise to increased in total number of Private Investments in Nigeria?
1.5 RESEARCH HYPOTHESES
This study is conducted under the following assumptions:
H01: There is no significant relationship between Bank Credit and volume of transactions/businesses of Private Investors in Nigeria.
H02: There is no significant relationship between Bank Credit and operational efficiency in Private Investments in Nigeria between Bank Credit and increase in total number of private Investments in Nigeria.
H03: There is no significant relationship between Bank Credit and increase in total number of private investments in Nigeria.
1.6 SIGNIFICANT OF THE STUDY
The result of this study will be of immense benefit to existing and prospective Private Investors in the economy. They will realize the advantages derivable from bank credit. They will also realize the mechanism of bank lending with a view to making optimum use of facilities available. Similarly, the banking sector will also benefit from the result of this study. They will realize how the sector can help also find this study as an invaluable material.
Finally, this study will add to the existing bulk of knowledge on bank credit and private sector investment. It will form the basis for further studies in this direction.
1.7 SCOPE AND LIMITATION OF THE STUDY
In a study of this magnitude so many variable come to play. However, the researcher concentrated on volume of businesses, operational efficiency and increase in total number of Private Sector Investments. The research questions and hypotheses focus on this direction.
The geographical scope of this study is Port Harcourt metropolis. This is because the city has a good concentration of Private Investors who are in a better position to supply the relevant data.
Proximity to the researchers base is another factor considered in the choice Port Harcourt. The associated constraints of this study include lack of literature materials insufficient fund and short time period required to complete the study.
1.8 DEFINITION OF TERMS
The following are contextual meaning of key terms used for this.
Advances: Short-term accommodation by a bank for a specific purpose with the repayment source know at the time of the advance.
Bank Credit: Short-term loan given by a bank to its customers .
Private Sector: Investments economic embark upon by private individuals in an economy.
Overdrafts: Credit facility offered by a bank to its current account customer which allows such customers to overdraw his current account either on the strength of financial instrument, or simply more than the credit balance.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: BANK CREDIT AND PRIVATE SECTOR INVESTMENT IN NIGERIA: 1980-2007
0 Add a comment
Sep
14
ANALYSIS OF NATIONAL INCOME AND POWER GENERATION IN NIGERIA
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
ANALYSIS OF NATIONAL INCOME AND POWER GENERATION IN NIGERIA
ABSTRACT
Electricity Consumption goes hand in hand with industrial production and increase in per capital income of any nation’s economy.
It is noted in Nigeria that effort has been made by various government to boost the supply of electricity to suit the fast breeding population but the supply of electricity is not proportionate to the demand of it. Therefore this research is conducted to examine the level of national income and power generation in Nigeria from 1970 to 2007 under review. The ordinary least square (OLS) regression method was employed to estimate our model. Thus, the national income was used as our dependent variables, while power generation was used as the independent variable. Hence, the study found as positive and highly significant relationship between power generation and national income. Thus, the study concludes that power generation plays a vital role in determining the level of national income of Nigeria. Therefore, the study recommends that policies aimed at increasing a stable and efficient amount of electrical power should be vigorously pursued.
TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of contents vi
CHAPTER ONE: INTRODUCTION
1.1 Background of study 1
1.2 Statement of problem 7
1.3 Objectives of study 10
1.4 Research hypothesis 10
1.5 Scope of the study 11
1.6 Significance of the study 11
1.7 Limitation of the study 12
1.8 Organization of the study 12
1.9 Definition of terms 13
CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAMEWORK
2.0 Introduction 16
2.1 Rostow stages of economic growth 18
2.2 The great spurt theory 19
2.3 Critical minimum effort thesis 20
2.4 The big-push theory 21
2.5 Theory of balance growth 23
2.6 The concept of unbalance growth 24
2.7 Harold and Domar Model of economic growth 26
2.8 The concept capital formation in economic
development 28
2.9 Keynesian analysis of fiscal policy 29
2.10 The concept of deficit financing 30
2.11 The role of the state in economic development 32
2.12 Empirical literature review 33
2.13.1 Sources of electricity 48
2.14 State of electricity in Nigeria 53
CHAPTE THREE: METHOD OF STUDY
3.0 Introduction 58
3.1 Research design 58
3.2 Sources of data 58
3.3 Model specification and analysis 58
3.4 Estimation procedure 60
3.5 Evaluation technique 61
CHAPTER FOUR
NATIONAL INCOME AND POWER GENERATION IN NIGERIA
4.1 Introduction 62
4.2 Data presentation and analysis 62
4.3 Empirical regression result 64
4.4 Analysis of regression result 64
4.5 Policy implications 68
CHAPTER FIVE
SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary of major findings 70
5.2 Conclusion 71
5.3 Recommendations 72
References 73
Appendix 78
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Power generation which is also known as electricity supply is most often generated at a power station by electro-mechanical generators that are primarily generated by heat engines or fueled by chemical combustion or unclear fission and also by other means such as kinetic energy of flowing water and wind. There are many other power generating technologies that are used to generate electrical energy such as solar, biomass, thermoelectric devices, wind vain and various others. In an economy like United State, 50% of her power generations is produced from coal while Nigeria basically generates her power from hydroelectric energy and gas turbines, in fact about 90% of gas produced currently are used in generating electricity.
Power generation is an important propeller to national income growth. In this sense, power generation refers to the process of converting non electrical energy to electricity, particularly for the production of goods and services and the expansion of the living standard of the people. Electricity is a major determinant of national income growth which implies that an increase in gross national income is a function of an increasing power generations (Moro 1995: 59). There is a strong and persistent relationship between electricity used and gross nation product. Basically power generation affect the level of national income by increasing productivity, employment level, consumption level, urban socialization, and to an extent prices and other economic activities, hence, economic growth and national development (Douglas, 2006: 101).
Sustainable power generation has become a strong area of focus to increasing national income in Nigeria. This includes managing the demand and supply of power since national income growth and the performance of the economy are embedded in the amount of electricity a nation can produce. The demand or consumption of electricity has increased over the past four decades. Its consumers could be grouped into three areas; the industrial consumers the commercial consumers and domestic consumers. Electricity influences performers in utilities, manufacturing, wholesale and retail trade, mining and constructions, warehousing, information and transportations, finance and insurance, leasing, Real estates and rentals, professions, Scientific and technical services, management of companies and enterprises, supports, waste management Remediation service, Education services, Helath care and social assistance, art, Entertainment and Recreation, Accommodation and food Services and many other areas except primary production areas of agriculture, forestry, fishing and hunting. As economic activities grow, electricity generation and consumption are expected to continue to increase (Douglas, 2006).
Due to the positive relationships between electricity and gross national output or product, it is expected that close attention be paid to the adequacy of electricity supply to sustain a high future rate of economic growth. The adequacy of electricity supplies can be maintained not only through new generation facilities but also through efficient improvements that uses existing generating capacity better (Bart, 2008:2).
Sustainable electricity supply is indeed the greatest challenge of Nigeria’s development. It has been noted that the cost of providing independent power (through generators) constitutes an average of 30% or more of the total cost of production in Nigeria.
Considering the situation on how Nigeria fits-in electricity availability calculation in comparison to other parts of the world. In Africa, the total installed capacity of electricity on the continent is 103,000megwatts (MW). This represents less than 5% of the world’s installed capacity in spite of Africa being the second largest continent in the world with a population that is close to 20% of the world’s population. Even more remarkable is that, much of this electricity is in South Africa and North Africa; therefore the sub-Saharan Africa is left in darkness at night with extremely poor electricity availability and even poorer accessibility by the rural and urban poor. The United States with a population of 300 million has over 900,000 MW. The United Kingdom with a population of 60 million has installed capacity of 77,000MW. Brazil with a population of 180 million has installed capacity of 90,000MW. Germany with a population of 83 million has installed capacity of 115,000MW. Thailand which has a population of 70 million has installed capacity of over 40,000 MW even thought it was at the same generation capacity as Nigeria in early 60s. (Bart 2008:3).
Many other countries who were at relatively the same level as Nigeria in the 1960s and early 70s have found themselves at 10 times more than Nigerian installed capacity today. In Africa, South Africa with a population of 45 million people has installed capacity of over 46,000 MW. Even Ghana with a population of 21 million has installed capacity of 1800MW. But Nigeria with a population of 150 million can only boast of installed capacity of 4,000MW. This is an extra ordinary poor and embarrassing figure. More startling gap would be seen if we find the per capital power capital measured in watts/persons. For the U.S.A. it is about 2900 watts/persons. South Africa is 105 watts/person; Brazil is 480; India is 110; even Ghana is 85 watts/persons. But Nigeria is 29 watts/person, not even enough to light a bulb how much more to power an industrial machine (Bart, 2008). How then will the country’s gross national income be improved when no light means on life.
Adequate power supply will courage industrialization, it is clear then that all the country’s noted above are either industrialized or emerging industrialized nations, largely because their electricity production has kept pace with their economic growth needs.
Electricity consumption goes hand in hand with industrial production and increase in per capital income. In general, the greater the level of electricity consumption, the higher the gross national product thus the correlation between these two point to a basic conflict between societies. Conuntries that can afford to consume great amount of electrical energy continue to expand and increase their living standard whiles those without greater access to electricity energy declines in national output, this create a gap between their economic prospects. Bell-Gam, Arokoyu and Umeuduji (2004:84) stated that power generations still stand-out as a principal driver of development mark by corresponding growth in national income (Y).
The trend of electricity struggles in Nigeria was 335.9 megawatt per hour (MWh) in 1981; it increase respectively to 898.5 MWh in 1990. Then, 1,017.3 MWh in 2000 and 1,873.1 MWh in 2006. Currently, it is said to be between 4,000 and 4,200 MW with the population of about 150 Million people (CBN, 2006).
Policies have also been formulated in Nigeria in order to increase power generation. One of such is the National Economic Empowerment and Development strategy (NEEDS) which proposed to increase electricity generation from 4,000 MW to 10,000 MW as at 2010 by exploring alternative energy sources such as coal, solar, power wind power, and hydropower and also to include power sector in participation. However this policy when effectively implemented may increase the percentage contribution of hydroelectricity supply, will extend electricity to rural areas and encourage private investment in the power sector hence increase in national income of Nigeria.
Finally, this study is an empirical analysis of National Income and Power generation in Nigeria, it cover the period from 1970-2007.
1.2 STATEMENT OF THE PROBLEM
Despite Nigeria’s endowment in National resources; Renewable and non-renewable such as sun, wind running waters, waves, tide, geothermal energy, fossil fuel, nuclear fuel and variety of nonfuel mineral both metallic and non-metallic.
There are present shortfalls in power generation and suppy as compared to United State, China, Japan, Russia and even South-Africa, which generates a higher quantity and quality electricity using some of the mentioned sources.
Over decades Nigeria has been contending adversely with poor electricity generating capabilities. The real GDP of a country are the people’s economic activities. In the world today, the economic performances of any country are calculated in GDP and are basically influence by electricity. Electricity worldwide is the bedrock of every nations economic growth and development, it influences production activities, employment and prices of goods and services. Therefore absent of this vital variable, productions will be delayed, investment may be discourage, structural transformation may be perturbed and economic resources not fully employed, which will further lead to closure of many business and stunt the desired growth rate of a nations.
The country inability of harness her bountiful energy resources into power production weakness her technological capabilities. It is technology capability that distinguishes a strong economy from a weak economy and strong country from a weak country Kalu (2001:63). This then means that the supply of electricity in excess can stimulate advancement in technological industrialization and alleviate technical reliance to a great extent. Electricity incorporates, reflects and perpetuates the value of developing industries tending towards an increase in National income.
Due to the inconsistencies post by the Nation’s electricity supply to business and comfort, many people have resorted to having “small” generators which produces tremendous decibels of noise as well as the highly toxic carbon monoxide and other dangerous gasses, this is call pollutions. Of recent people experiences all manner of ailments and death arousing from over exposures and debilitating effect cause by these dangerous gasses exert by the “small generators”. On the road, we are constantly fighting with tanker trucks hauling fuel product to various destination in our nation. How about issues of corruption militating against the progress of this sector. These and various others are considered as negative externalities to national economic development.
1.3 OBJECTIVES OF THE STUDY
The main objective of this study is an econometric analysis of national income and power generation in Nigeria. To this end specially, it aims;
i. To analyze the relationship between electricity generation and national income in Nigeria.
ii. To determine whether power generation is significant to national income.
iii. To review the sources of power generation in Nigeria.
1.4 RESEARCH HYPOTHESIS
This study shall verify the following hypothesis, which are stated in the null and alternative forms as:
H0: There is no relationship between power generation and national output in Nigeria.
H1: There is a relationship between power generation and national output in Nigeria.
1.5 SCOPE OF THE STUDY
The study shall cover the period from 1970-2007. Its analysis however, will be centered on the national income and power generation in Nigeria although the experience of other economies would be sighted.
1.6 SIGNIFICANCE OF THE STUDY
The study benefits the ministry of power and steel in Nigeria, policy makers, and the power holding company of Nigeria (PHCN), investors, scientist, and the Nigeria coal corporation, the national Biotechnology agencies, the Government, private sector, researchers and other developing economies. This is due to its utilization of the modern econometric research method in its analysis, including the latest econometric view software (E-view 3.1) to analyze its liner multiple regression model. It shall also include other variable such as investment as a check variable for national income in the model.
Finally, this work has covered the vacuum of previous researchers who lacks the econometric facilities in their analysis and who centered their analyses on developed economies.
1.7 LIMITATION OF THE STUDY
The limitations faced in this study were basically the absence of economic theories on power generation, and the technically of the study including limited literatures on developing economies.
1.8 ORGANIZATION OF THE STUDY
This study shall be comprised of five chapters. Chapter one is the introduction which statement of problem, objectives of the study, hypothesis, scope, significance, limitations, organization of the study and the definition of terms. Chapter two shall cover the literature review and theoretical framework. Chapter three is the method of study, which shall include the sources of data, model, variables and the analytical frame work. Chapter four shall be the data presentation and analysis, which shall include the discussion of our findings. Chapter five shall be the summary, recommendations and conclusion of the study.
1.9 DEFINITION OF TERMS
This section shall define the following non-economic terms below to and the understanding of the study.
i. Kilowatt (KW): Refers to the unit for the retail price of electricity. It is measured in hours.
ii. Megawatt (MW): A unit of power generating capacity. It represents an instantaneous. Power flow and should not be confused with units of produced energy (i.e. MWh, or megawatt-hours).
iii. Megawatt-thermal (MWth): A unit of heat-supply capacity used to measure the potential output from a heating plant, such as light supply a building or a neighborhood. More recently, it is used to measure the capacity of solar hot water or heating installations.
iv. Micro-generation: Micro-generation systems typically range in size from a few kilowatts (KW) to 500KW. Simply, they are small generators installed close to the point of use, either in a small business or for household use.
v. Renewable Energy: Refers to the use of energy from a source that does not result in the depletion of the earth’s resources, whether this is from a central or local source.
vi. Hydropower: Simply means electricity from water flowing downhill, typically from behind a dam.
vii. Solar System: A battery and charge controller that can provide modest amount of power to homes not connected to the electric grid. Typically, it provides and evening’s lighting, using efficient lights and TV viewing from one day’s battery charging.
viii. Photovoltaic (PV): Isa a device that converts sunlight into electricity.
ix. Nuclear, Fission: Is the splitting of the nucleus if an atom to produce a large amount of heat energy or cause a large explosion.
x. Turboelectric effect unit lighting:
xi. Solar energy: Energy that radiate from the sun.
xii. Thermoelectric devices: A device use in measuring the percentage output of heat from a generating appliance.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: ANALYSIS OF NATIONAL INCOME AND POWER GENERATION IN NIGERIA
0 Add a comment
Sep
14
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ABSTRACT
This research work focuses on the evaluation of the Okowa’s urban bias thesis in Ihiala local Government Area of Anambra State. The objective that guided this research work was to review the Okowa’s urban bias thesis and then determine how public policy implementation affects in Ihiala Local Government Area. Based on the above objectives, a hypothesis was formulated and we used questionnaires to collect the data from primary source. These sets of questionnaires were drawn from three categories of respondents-farmers, students, traders, civil servants, are classified by three selected sectors namely, Agriculture, education and health, as regards the composite six towns in Ihiala. The Chi-square was used in testing the hypothesis, while frequency tables and simple percentages were used in the data analysis and presentations. However, we found that public sector expenditure, particularly on Agriculture, education and health is highly urban biased in Ihiala. This finding conforms with the Okowa’s thesis on urban bias in Nigeria Development, which therefore suggests the inequitable distribution of potential development programmes in both the urban and rural sectors in Nigeria. The government should adopt some of the potential development policies and programmes to be effective in reaching out to the rural towns and communities. Human resources development should be equitably extended to both the rural and urban sector.
TABLE OF CONTENT
COVER PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of problem 3
1.3 Objective of the study 4
1.4 Research questions 4
1.5 Research hypothesis 4
1.6 Significance of the study 5
1.7 Scope and limitation of the study 5
1.8 Organization of the study 6
CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAME-WORK
Literature Review 7
2. Theoretical framework 16
2.1 Harris and Todaro model 17
2.2 Jorgenson’s Neo-Classical Theory 18
2.3 Fei-Rains theory 19
2.2.4 Lewis theory of development 20
2.2.5 Development and urban bias in Ihiala 22
2.2.6 The Keynesian economic theory 23
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research design 24
3.2 Population of the study 24
3.3 Sampling technique 24
3.4 Sample size determination 25
3.5 Data collection instruments and procedure 26
3.6 Method of data analysis 27
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 29
4.2 Allocation of questionnaires and rate of returns 29
4.3 Analysis of respondents 30
4.4 Analysis of relevant questions 31
4.5 Test of hypothesis 32
4.6 Discussion of results 35
CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary 37
5.2 Recommendations 38
5.3 Conclusion 39
Appendices 41
References 44
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Urban bias may be referred to a situation of the development process, whereby the urban sector benefits relatively more in the rural-urban distribution of public sector expenditure in an economy, during a particular period of time. Thus, the provision of social and physical infrastructure through public investment and expenditure on some goods and services can directly improve productivity and development in both the urban and rural sector through a more efficient and equitable allocation of resources.
However, a developing region maybe classified into two; urban sector and the rural sector. The urban sector is the region that is defined by town or cities; it is classified as the industrial or modern areas, whereas, the rural sector is an area that is defined by communities, it is largely dominated by traditional agricultural activities. Some developmental economists of the structuralist school posit that some categories of government expenditure on the urban sector are necessary to overcome constraints of economic growth.
Hence, the responsibility of the government in any economic system irrespective of the political arrangement is to initiate policies towards the achieving of four basic micro-economic goals which are price stability, the government regulates the distribution of public goods and services in stimulating the productive capacity of the economy.
Over the years, Nigeria has made conscious and determined effort to attain a high level of social and economic transformation of the economy. So far, the Nigeria economy has had four (4) national development plans in which varying emphasis were made on the achievement of the development goals and objectives, several policy tools were adopted including monetary policy, fiscal policy, exchange control measures, changed from time to time to reflect the changing economic environment and circumstances.
Okowa’s (1991) urban bias thesis stated that a Development policy should include;
i. Enhanced economic growth
ii. Reduction over time of economic dependency
iii. Reduction over time of economic inequality
iv. Reduction over time of unemployment
v. Maintenance of stable price (inflation)
We can therefore identify urban bias with respect of any one of the mentioned development aim. If economic growth could have been enhanced by a distribution of public sector resources that allocated more to the urban sector than to the rural sector, then we say that the given rural-urban perspective is such as to generate greater rural-urban economic dependence than would have been the case. Thus, inequality bias is a situation whereby distribution of income has a relative greater benefit in the sector, in this light, the ratio of unemployment and inflation between the rural and urban sector is used as a measure for inequality bias.
In this line, many development scientists have stated that the rationale for balanced and equitable development to take place in any economy, certain efforts should be made to develop the rural and urban sector simultaneously. In this thesis, Professor Okowa (1991) held the view that development effort in Nigeria has been urban biased, although severe measures have been taken by the Nigeria government to develop the rural areas.
However, our concern in this study is to evaluate the Okowa’s urban bias thesis in Ihiala local government area of Anambra State this study cannot cover the entire country, the researcher focuses on his local government area of origin.
1.2 STATEMENT OF PROBLEM
Prof Okowa’s thesis was published in 1991, about 18 years now and on other research to the best of my knowledge has been carried out to affirm or dispute his urban bias thesis. There is urgent need to do this, in order to see if there are policy changes to develop the rural areas. Again, we also need to study the rural areas to find out empirically, how the policy changes (if there is) have affected the rural areas. We do not have ready evident to show that such research are carried out especially in the researcher’s Local Government Area-Ihiala Local Government Area of Anambra State.
This research is intended to bridge this observed gap. As at when this research was carried out this findings could be said to be correct in many respects. Therefore, it is in the light of the above that this research is undertaken to evaluate the Okowa’s urban bias thesis in Ihiala Local Government Area of Anambra State.
1.3 OBJECTIVES OF THE STUDY
The activities of this research project include:
i. To review the Okowa’s urban bias Thesis and the various development theories.
ii. To determine whether government policies are urban bias
iii. To find out how the policies are implemented in Ihiala Local Government Area.
1.4 RESEARCH QUESTIONS
Some of the questions the study will attempt to proffer answers to include the following;
a. What are the urban development strategies employed by the government in developing Ihiala Local Government Area?
b. To what extent are these government strategies employed to cause urban bias?
c. How do these government expenditure strategies compared in there relative effectiveness in the rural and urban sector?
d. Does public sector expenditure in the rural and urban areas complement each other synergistically?
e. What are the implications of urban bias?
1.5 RESEARCH HYPOTHESIS
The hypothesis have been put forward for testing
H0: Public sector expenditure in Ihiala Local Government Area is not urban bias
H1: Public sector expenditure in Ihiala Local Government Area is urban bias.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study lies on the fact that our rural communities to a large extent need to be developed. It is our belief that this study will serve as an important reference to local government for future development of rural area, based on suggestions advanced therein. It will also serve as a reference point to others who find time of reason alongside with us on the issue of the rural development in Nigeria.
Based on the findings of the research project, the government will be in a better position of either adding or dropping some public sector expenditure programmes in the rural or urban sector in Nigeria.
1.7 SCOPE AND LIMITATION OF THE STUDY
The scope of this study on the evaluation of the Okowa’s urban bias thesis focuses in the Ihiala Local Government Area of Anambra State in Nigeria.
Ihiala Local Government Area is made up of about six (6) towns (Uburu, Mbosi, Iseke, Azia, Orsumaonyu and Lilu) with various villages. The researcher may not go beyond the above scope.
However, there are two limiting factors that affected the researcher’s progress in this work. One is that of inadequate funds to carryout an elaborate research that concern Anambra State in Rivers State. Whereas, the second factor is that of time constraint, hence, the researcher was working within a time frame despite the prolonged academic staff union of universities strike action.
1.8 ORGANIZATION OF THE STUDY
This study is organized into five interrelated chapters.
Chapter one introduces the background of the study, statement of the problem, objectives, research questions, hypothesis, significance, scope, limitations and the organization of the study. Chapter two reviews related literature and theoretical frame of the study.
The three is the research design and method of the study. Chapter four presents and analyzes the data. Finally, chapter five summarizes, recommends and concludes the study.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
0 Add a comment
Sep
14
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ABSTRACT
This research work focuses on the evaluation of the Okowa’s urban bias thesis in Ihiala local Government Area of Anambra State. The objective that guided this research work was to review the Okowa’s urban bias thesis and then determine how public policy implementation affects in Ihiala Local Government Area. Based on the above objectives, a hypothesis was formulated and we used questionnaires to collect the data from primary source. These sets of questionnaires were drawn from three categories of respondents-farmers, students, traders, civil servants, are classified by three selected sectors namely, Agriculture, education and health, as regards the composite six towns in Ihiala. The Chi-square was used in testing the hypothesis, while frequency tables and simple percentages were used in the data analysis and presentations. However, we found that public sector expenditure, particularly on Agriculture, education and health is highly urban biased in Ihiala. This finding conforms with the Okowa’s thesis on urban bias in Nigeria Development, which therefore suggests the inequitable distribution of potential development programmes in both the urban and rural sectors in Nigeria. The government should adopt some of the potential development policies and programmes to be effective in reaching out to the rural towns and communities. Human resources development should be equitably extended to both the rural and urban sector.
TABLE OF CONTENT
COVER PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of problem 3
1.3 Objective of the study 4
1.4 Research questions 4
1.5 Research hypothesis 4
1.6 Significance of the study 5
1.7 Scope and limitation of the study 5
1.8 Organization of the study 6
CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAME-WORK
Literature Review 7
2. Theoretical framework 16
2.1 Harris and Todaro model 17
2.2 Jorgenson’s Neo-Classical Theory 18
2.3 Fei-Rains theory 19
2.2.4 Lewis theory of development 20
2.2.5 Development and urban bias in Ihiala 22
2.2.6 The Keynesian economic theory 23
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research design 24
3.2 Population of the study 24
3.3 Sampling technique 24
3.4 Sample size determination 25
3.5 Data collection instruments and procedure 26
3.6 Method of data analysis 27
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 29
4.2 Allocation of questionnaires and rate of returns 29
4.3 Analysis of respondents 30
4.4 Analysis of relevant questions 31
4.5 Test of hypothesis 32
4.6 Discussion of results 35
CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary 37
5.2 Recommendations 38
5.3 Conclusion 39
Appendices 41
References 44
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Urban bias may be referred to a situation of the development process, whereby the urban sector benefits relatively more in the rural-urban distribution of public sector expenditure in an economy, during a particular period of time. Thus, the provision of social and physical infrastructure through public investment and expenditure on some goods and services can directly improve productivity and development in both the urban and rural sector through a more efficient and equitable allocation of resources.
However, a developing region maybe classified into two; urban sector and the rural sector. The urban sector is the region that is defined by town or cities; it is classified as the industrial or modern areas, whereas, the rural sector is an area that is defined by communities, it is largely dominated by traditional agricultural activities. Some developmental economists of the structuralist school posit that some categories of government expenditure on the urban sector are necessary to overcome constraints of economic growth.
Hence, the responsibility of the government in any economic system irrespective of the political arrangement is to initiate policies towards the achieving of four basic micro-economic goals which are price stability, the government regulates the distribution of public goods and services in stimulating the productive capacity of the economy.
Over the years, Nigeria has made conscious and determined effort to attain a high level of social and economic transformation of the economy. So far, the Nigeria economy has had four (4) national development plans in which varying emphasis were made on the achievement of the development goals and objectives, several policy tools were adopted including monetary policy, fiscal policy, exchange control measures, changed from time to time to reflect the changing economic environment and circumstances.
Okowa’s (1991) urban bias thesis stated that a Development policy should include;
i. Enhanced economic growth
ii. Reduction over time of economic dependency
iii. Reduction over time of economic inequality
iv. Reduction over time of unemployment
v. Maintenance of stable price (inflation)
We can therefore identify urban bias with respect of any one of the mentioned development aim. If economic growth could have been enhanced by a distribution of public sector resources that allocated more to the urban sector than to the rural sector, then we say that the given rural-urban perspective is such as to generate greater rural-urban economic dependence than would have been the case. Thus, inequality bias is a situation whereby distribution of income has a relative greater benefit in the sector, in this light, the ratio of unemployment and inflation between the rural and urban sector is used as a measure for inequality bias.
In this line, many development scientists have stated that the rationale for balanced and equitable development to take place in any economy, certain efforts should be made to develop the rural and urban sector simultaneously. In this thesis, Professor Okowa (1991) held the view that development effort in Nigeria has been urban biased, although severe measures have been taken by the Nigeria government to develop the rural areas.
However, our concern in this study is to evaluate the Okowa’s urban bias thesis in Ihiala local government area of Anambra State this study cannot cover the entire country, the researcher focuses on his local government area of origin.
1.2 STATEMENT OF PROBLEM
Prof Okowa’s thesis was published in 1991, about 18 years now and on other research to the best of my knowledge has been carried out to affirm or dispute his urban bias thesis. There is urgent need to do this, in order to see if there are policy changes to develop the rural areas. Again, we also need to study the rural areas to find out empirically, how the policy changes (if there is) have affected the rural areas. We do not have ready evident to show that such research are carried out especially in the researcher’s Local Government Area-Ihiala Local Government Area of Anambra State.
This research is intended to bridge this observed gap. As at when this research was carried out this findings could be said to be correct in many respects. Therefore, it is in the light of the above that this research is undertaken to evaluate the Okowa’s urban bias thesis in Ihiala Local Government Area of Anambra State.
1.3 OBJECTIVES OF THE STUDY
The activities of this research project include:
i. To review the Okowa’s urban bias Thesis and the various development theories.
ii. To determine whether government policies are urban bias
iii. To find out how the policies are implemented in Ihiala Local Government Area.
1.4 RESEARCH QUESTIONS
Some of the questions the study will attempt to proffer answers to include the following;
a. What are the urban development strategies employed by the government in developing Ihiala Local Government Area?
b. To what extent are these government strategies employed to cause urban bias?
c. How do these government expenditure strategies compared in there relative effectiveness in the rural and urban sector?
d. Does public sector expenditure in the rural and urban areas complement each other synergistically?
e. What are the implications of urban bias?
1.5 RESEARCH HYPOTHESIS
The hypothesis have been put forward for testing
H0: Public sector expenditure in Ihiala Local Government Area is not urban bias
H1: Public sector expenditure in Ihiala Local Government Area is urban bias.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study lies on the fact that our rural communities to a large extent need to be developed. It is our belief that this study will serve as an important reference to local government for future development of rural area, based on suggestions advanced therein. It will also serve as a reference point to others who find time of reason alongside with us on the issue of the rural development in Nigeria.
Based on the findings of the research project, the government will be in a better position of either adding or dropping some public sector expenditure programmes in the rural or urban sector in Nigeria.
1.7 SCOPE AND LIMITATION OF THE STUDY
The scope of this study on the evaluation of the Okowa’s urban bias thesis focuses in the Ihiala Local Government Area of Anambra State in Nigeria.
Ihiala Local Government Area is made up of about six (6) towns (Uburu, Mbosi, Iseke, Azia, Orsumaonyu and Lilu) with various villages. The researcher may not go beyond the above scope.
However, there are two limiting factors that affected the researcher’s progress in this work. One is that of inadequate funds to carryout an elaborate research that concern Anambra State in Rivers State. Whereas, the second factor is that of time constraint, hence, the researcher was working within a time frame despite the prolonged academic staff union of universities strike action.
1.8 ORGANIZATION OF THE STUDY
This study is organized into five interrelated chapters.
Chapter one introduces the background of the study, statement of the problem, objectives, research questions, hypothesis, significance, scope, limitations and the organization of the study. Chapter two reviews related literature and theoretical frame of the study.
The three is the research design and method of the study. Chapter four presents and analyzes the data. Finally, chapter five summarizes, recommends and concludes the study.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
0 Add a comment
Sep
14
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ABSTRACT
This research work focuses on the evaluation of the Okowa’s urban bias thesis in Ihiala local Government Area of Anambra State. The objective that guided this research work was to review the Okowa’s urban bias thesis and then determine how public policy implementation affects in Ihiala Local Government Area. Based on the above objectives, a hypothesis was formulated and we used questionnaires to collect the data from primary source. These sets of questionnaires were drawn from three categories of respondents-farmers, students, traders, civil servants, are classified by three selected sectors namely, Agriculture, education and health, as regards the composite six towns in Ihiala. The Chi-square was used in testing the hypothesis, while frequency tables and simple percentages were used in the data analysis and presentations. However, we found that public sector expenditure, particularly on Agriculture, education and health is highly urban biased in Ihiala. This finding conforms with the Okowa’s thesis on urban bias in Nigeria Development, which therefore suggests the inequitable distribution of potential development programmes in both the urban and rural sectors in Nigeria. The government should adopt some of the potential development policies and programmes to be effective in reaching out to the rural towns and communities. Human resources development should be equitably extended to both the rural and urban sector.
TABLE OF CONTENT
COVER PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of problem 3
1.3 Objective of the study 4
1.4 Research questions 4
1.5 Research hypothesis 4
1.6 Significance of the study 5
1.7 Scope and limitation of the study 5
1.8 Organization of the study 6
CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAME-WORK
Literature Review 7
2. Theoretical framework 16
2.1 Harris and Todaro model 17
2.2 Jorgenson’s Neo-Classical Theory 18
2.3 Fei-Rains theory 19
2.2.4 Lewis theory of development 20
2.2.5 Development and urban bias in Ihiala 22
2.2.6 The Keynesian economic theory 23
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research design 24
3.2 Population of the study 24
3.3 Sampling technique 24
3.4 Sample size determination 25
3.5 Data collection instruments and procedure 26
3.6 Method of data analysis 27
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 29
4.2 Allocation of questionnaires and rate of returns 29
4.3 Analysis of respondents 30
4.4 Analysis of relevant questions 31
4.5 Test of hypothesis 32
4.6 Discussion of results 35
CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary 37
5.2 Recommendations 38
5.3 Conclusion 39
Appendices 41
References 44
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Urban bias may be referred to a situation of the development process, whereby the urban sector benefits relatively more in the rural-urban distribution of public sector expenditure in an economy, during a particular period of time. Thus, the provision of social and physical infrastructure through public investment and expenditure on some goods and services can directly improve productivity and development in both the urban and rural sector through a more efficient and equitable allocation of resources.
However, a developing region maybe classified into two; urban sector and the rural sector. The urban sector is the region that is defined by town or cities; it is classified as the industrial or modern areas, whereas, the rural sector is an area that is defined by communities, it is largely dominated by traditional agricultural activities. Some developmental economists of the structuralist school posit that some categories of government expenditure on the urban sector are necessary to overcome constraints of economic growth.
Hence, the responsibility of the government in any economic system irrespective of the political arrangement is to initiate policies towards the achieving of four basic micro-economic goals which are price stability, the government regulates the distribution of public goods and services in stimulating the productive capacity of the economy.
Over the years, Nigeria has made conscious and determined effort to attain a high level of social and economic transformation of the economy. So far, the Nigeria economy has had four (4) national development plans in which varying emphasis were made on the achievement of the development goals and objectives, several policy tools were adopted including monetary policy, fiscal policy, exchange control measures, changed from time to time to reflect the changing economic environment and circumstances.
Okowa’s (1991) urban bias thesis stated that a Development policy should include;
i. Enhanced economic growth
ii. Reduction over time of economic dependency
iii. Reduction over time of economic inequality
iv. Reduction over time of unemployment
v. Maintenance of stable price (inflation)
We can therefore identify urban bias with respect of any one of the mentioned development aim. If economic growth could have been enhanced by a distribution of public sector resources that allocated more to the urban sector than to the rural sector, then we say that the given rural-urban perspective is such as to generate greater rural-urban economic dependence than would have been the case. Thus, inequality bias is a situation whereby distribution of income has a relative greater benefit in the sector, in this light, the ratio of unemployment and inflation between the rural and urban sector is used as a measure for inequality bias.
In this line, many development scientists have stated that the rationale for balanced and equitable development to take place in any economy, certain efforts should be made to develop the rural and urban sector simultaneously. In this thesis, Professor Okowa (1991) held the view that development effort in Nigeria has been urban biased, although severe measures have been taken by the Nigeria government to develop the rural areas.
However, our concern in this study is to evaluate the Okowa’s urban bias thesis in Ihiala local government area of Anambra State this study cannot cover the entire country, the researcher focuses on his local government area of origin.
1.2 STATEMENT OF PROBLEM
Prof Okowa’s thesis was published in 1991, about 18 years now and on other research to the best of my knowledge has been carried out to affirm or dispute his urban bias thesis. There is urgent need to do this, in order to see if there are policy changes to develop the rural areas. Again, we also need to study the rural areas to find out empirically, how the policy changes (if there is) have affected the rural areas. We do not have ready evident to show that such research are carried out especially in the researcher’s Local Government Area-Ihiala Local Government Area of Anambra State.
This research is intended to bridge this observed gap. As at when this research was carried out this findings could be said to be correct in many respects. Therefore, it is in the light of the above that this research is undertaken to evaluate the Okowa’s urban bias thesis in Ihiala Local Government Area of Anambra State.
1.3 OBJECTIVES OF THE STUDY
The activities of this research project include:
i. To review the Okowa’s urban bias Thesis and the various development theories.
ii. To determine whether government policies are urban bias
iii. To find out how the policies are implemented in Ihiala Local Government Area.
1.4 RESEARCH QUESTIONS
Some of the questions the study will attempt to proffer answers to include the following;
a. What are the urban development strategies employed by the government in developing Ihiala Local Government Area?
b. To what extent are these government strategies employed to cause urban bias?
c. How do these government expenditure strategies compared in there relative effectiveness in the rural and urban sector?
d. Does public sector expenditure in the rural and urban areas complement each other synergistically?
e. What are the implications of urban bias?
1.5 RESEARCH HYPOTHESIS
The hypothesis have been put forward for testing
H0: Public sector expenditure in Ihiala Local Government Area is not urban bias
H1: Public sector expenditure in Ihiala Local Government Area is urban bias.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study lies on the fact that our rural communities to a large extent need to be developed. It is our belief that this study will serve as an important reference to local government for future development of rural area, based on suggestions advanced therein. It will also serve as a reference point to others who find time of reason alongside with us on the issue of the rural development in Nigeria.
Based on the findings of the research project, the government will be in a better position of either adding or dropping some public sector expenditure programmes in the rural or urban sector in Nigeria.
1.7 SCOPE AND LIMITATION OF THE STUDY
The scope of this study on the evaluation of the Okowa’s urban bias thesis focuses in the Ihiala Local Government Area of Anambra State in Nigeria.
Ihiala Local Government Area is made up of about six (6) towns (Uburu, Mbosi, Iseke, Azia, Orsumaonyu and Lilu) with various villages. The researcher may not go beyond the above scope.
However, there are two limiting factors that affected the researcher’s progress in this work. One is that of inadequate funds to carryout an elaborate research that concern Anambra State in Rivers State. Whereas, the second factor is that of time constraint, hence, the researcher was working within a time frame despite the prolonged academic staff union of universities strike action.
1.8 ORGANIZATION OF THE STUDY
This study is organized into five interrelated chapters.
Chapter one introduces the background of the study, statement of the problem, objectives, research questions, hypothesis, significance, scope, limitations and the organization of the study. Chapter two reviews related literature and theoretical frame of the study.
The three is the research design and method of the study. Chapter four presents and analyzes the data. Finally, chapter five summarizes, recommends and concludes the study.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
0 Add a comment
Sep
14
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ABSTRACT
This research work focuses on the evaluation of the Okowa’s urban bias thesis in Ihiala local Government Area of Anambra State. The objective that guided this research work was to review the Okowa’s urban bias thesis and then determine how public policy implementation affects in Ihiala Local Government Area. Based on the above objectives, a hypothesis was formulated and we used questionnaires to collect the data from primary source. These sets of questionnaires were drawn from three categories of respondents-farmers, students, traders, civil servants, are classified by three selected sectors namely, Agriculture, education and health, as regards the composite six towns in Ihiala. The Chi-square was used in testing the hypothesis, while frequency tables and simple percentages were used in the data analysis and presentations. However, we found that public sector expenditure, particularly on Agriculture, education and health is highly urban biased in Ihiala. This finding conforms with the Okowa’s thesis on urban bias in Nigeria Development, which therefore suggests the inequitable distribution of potential development programmes in both the urban and rural sectors in Nigeria. The government should adopt some of the potential development policies and programmes to be effective in reaching out to the rural towns and communities. Human resources development should be equitably extended to both the rural and urban sector.
TABLE OF CONTENT
COVER PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of problem 3
1.3 Objective of the study 4
1.4 Research questions 4
1.5 Research hypothesis 4
1.6 Significance of the study 5
1.7 Scope and limitation of the study 5
1.8 Organization of the study 6
CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAME-WORK
Literature Review 7
2. Theoretical framework 16
2.1 Harris and Todaro model 17
2.2 Jorgenson’s Neo-Classical Theory 18
2.3 Fei-Rains theory 19
2.2.4 Lewis theory of development 20
2.2.5 Development and urban bias in Ihiala 22
2.2.6 The Keynesian economic theory 23
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research design 24
3.2 Population of the study 24
3.3 Sampling technique 24
3.4 Sample size determination 25
3.5 Data collection instruments and procedure 26
3.6 Method of data analysis 27
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 29
4.2 Allocation of questionnaires and rate of returns 29
4.3 Analysis of respondents 30
4.4 Analysis of relevant questions 31
4.5 Test of hypothesis 32
4.6 Discussion of results 35
CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary 37
5.2 Recommendations 38
5.3 Conclusion 39
Appendices 41
References 44
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Urban bias may be referred to a situation of the development process, whereby the urban sector benefits relatively more in the rural-urban distribution of public sector expenditure in an economy, during a particular period of time. Thus, the provision of social and physical infrastructure through public investment and expenditure on some goods and services can directly improve productivity and development in both the urban and rural sector through a more efficient and equitable allocation of resources.
However, a developing region maybe classified into two; urban sector and the rural sector. The urban sector is the region that is defined by town or cities; it is classified as the industrial or modern areas, whereas, the rural sector is an area that is defined by communities, it is largely dominated by traditional agricultural activities. Some developmental economists of the structuralist school posit that some categories of government expenditure on the urban sector are necessary to overcome constraints of economic growth.
Hence, the responsibility of the government in any economic system irrespective of the political arrangement is to initiate policies towards the achieving of four basic micro-economic goals which are price stability, the government regulates the distribution of public goods and services in stimulating the productive capacity of the economy.
Over the years, Nigeria has made conscious and determined effort to attain a high level of social and economic transformation of the economy. So far, the Nigeria economy has had four (4) national development plans in which varying emphasis were made on the achievement of the development goals and objectives, several policy tools were adopted including monetary policy, fiscal policy, exchange control measures, changed from time to time to reflect the changing economic environment and circumstances.
Okowa’s (1991) urban bias thesis stated that a Development policy should include;
i. Enhanced economic growth
ii. Reduction over time of economic dependency
iii. Reduction over time of economic inequality
iv. Reduction over time of unemployment
v. Maintenance of stable price (inflation)
We can therefore identify urban bias with respect of any one of the mentioned development aim. If economic growth could have been enhanced by a distribution of public sector resources that allocated more to the urban sector than to the rural sector, then we say that the given rural-urban perspective is such as to generate greater rural-urban economic dependence than would have been the case. Thus, inequality bias is a situation whereby distribution of income has a relative greater benefit in the sector, in this light, the ratio of unemployment and inflation between the rural and urban sector is used as a measure for inequality bias.
In this line, many development scientists have stated that the rationale for balanced and equitable development to take place in any economy, certain efforts should be made to develop the rural and urban sector simultaneously. In this thesis, Professor Okowa (1991) held the view that development effort in Nigeria has been urban biased, although severe measures have been taken by the Nigeria government to develop the rural areas.
However, our concern in this study is to evaluate the Okowa’s urban bias thesis in Ihiala local government area of Anambra State this study cannot cover the entire country, the researcher focuses on his local government area of origin.
1.2 STATEMENT OF PROBLEM
Prof Okowa’s thesis was published in 1991, about 18 years now and on other research to the best of my knowledge has been carried out to affirm or dispute his urban bias thesis. There is urgent need to do this, in order to see if there are policy changes to develop the rural areas. Again, we also need to study the rural areas to find out empirically, how the policy changes (if there is) have affected the rural areas. We do not have ready evident to show that such research are carried out especially in the researcher’s Local Government Area-Ihiala Local Government Area of Anambra State.
This research is intended to bridge this observed gap. As at when this research was carried out this findings could be said to be correct in many respects. Therefore, it is in the light of the above that this research is undertaken to evaluate the Okowa’s urban bias thesis in Ihiala Local Government Area of Anambra State.
1.3 OBJECTIVES OF THE STUDY
The activities of this research project include:
i. To review the Okowa’s urban bias Thesis and the various development theories.
ii. To determine whether government policies are urban bias
iii. To find out how the policies are implemented in Ihiala Local Government Area.
1.4 RESEARCH QUESTIONS
Some of the questions the study will attempt to proffer answers to include the following;
a. What are the urban development strategies employed by the government in developing Ihiala Local Government Area?
b. To what extent are these government strategies employed to cause urban bias?
c. How do these government expenditure strategies compared in there relative effectiveness in the rural and urban sector?
d. Does public sector expenditure in the rural and urban areas complement each other synergistically?
e. What are the implications of urban bias?
1.5 RESEARCH HYPOTHESIS
The hypothesis have been put forward for testing
H0: Public sector expenditure in Ihiala Local Government Area is not urban bias
H1: Public sector expenditure in Ihiala Local Government Area is urban bias.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study lies on the fact that our rural communities to a large extent need to be developed. It is our belief that this study will serve as an important reference to local government for future development of rural area, based on suggestions advanced therein. It will also serve as a reference point to others who find time of reason alongside with us on the issue of the rural development in Nigeria.
Based on the findings of the research project, the government will be in a better position of either adding or dropping some public sector expenditure programmes in the rural or urban sector in Nigeria.
1.7 SCOPE AND LIMITATION OF THE STUDY
The scope of this study on the evaluation of the Okowa’s urban bias thesis focuses in the Ihiala Local Government Area of Anambra State in Nigeria.
Ihiala Local Government Area is made up of about six (6) towns (Uburu, Mbosi, Iseke, Azia, Orsumaonyu and Lilu) with various villages. The researcher may not go beyond the above scope.
However, there are two limiting factors that affected the researcher’s progress in this work. One is that of inadequate funds to carryout an elaborate research that concern Anambra State in Rivers State. Whereas, the second factor is that of time constraint, hence, the researcher was working within a time frame despite the prolonged academic staff union of universities strike action.
1.8 ORGANIZATION OF THE STUDY
This study is organized into five interrelated chapters.
Chapter one introduces the background of the study, statement of the problem, objectives, research questions, hypothesis, significance, scope, limitations and the organization of the study. Chapter two reviews related literature and theoretical frame of the study.
The three is the research design and method of the study. Chapter four presents and analyzes the data. Finally, chapter five summarizes, recommends and concludes the study.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
0 Add a comment
Sep
14
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ABSTRACT
This research work focuses on the evaluation of the Okowa’s urban bias thesis in Ihiala local Government Area of Anambra State. The objective that guided this research work was to review the Okowa’s urban bias thesis and then determine how public policy implementation affects in Ihiala Local Government Area. Based on the above objectives, a hypothesis was formulated and we used questionnaires to collect the data from primary source. These sets of questionnaires were drawn from three categories of respondents-farmers, students, traders, civil servants, are classified by three selected sectors namely, Agriculture, education and health, as regards the composite six towns in Ihiala. The Chi-square was used in testing the hypothesis, while frequency tables and simple percentages were used in the data analysis and presentations. However, we found that public sector expenditure, particularly on Agriculture, education and health is highly urban biased in Ihiala. This finding conforms with the Okowa’s thesis on urban bias in Nigeria Development, which therefore suggests the inequitable distribution of potential development programmes in both the urban and rural sectors in Nigeria. The government should adopt some of the potential development policies and programmes to be effective in reaching out to the rural towns and communities. Human resources development should be equitably extended to both the rural and urban sector.
TABLE OF CONTENT
COVER PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of problem 3
1.3 Objective of the study 4
1.4 Research questions 4
1.5 Research hypothesis 4
1.6 Significance of the study 5
1.7 Scope and limitation of the study 5
1.8 Organization of the study 6
CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAME-WORK
Literature Review 7
2. Theoretical framework 16
2.1 Harris and Todaro model 17
2.2 Jorgenson’s Neo-Classical Theory 18
2.3 Fei-Rains theory 19
2.2.4 Lewis theory of development 20
2.2.5 Development and urban bias in Ihiala 22
2.2.6 The Keynesian economic theory 23
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research design 24
3.2 Population of the study 24
3.3 Sampling technique 24
3.4 Sample size determination 25
3.5 Data collection instruments and procedure 26
3.6 Method of data analysis 27
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 29
4.2 Allocation of questionnaires and rate of returns 29
4.3 Analysis of respondents 30
4.4 Analysis of relevant questions 31
4.5 Test of hypothesis 32
4.6 Discussion of results 35
CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary 37
5.2 Recommendations 38
5.3 Conclusion 39
Appendices 41
References 44
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Urban bias may be referred to a situation of the development process, whereby the urban sector benefits relatively more in the rural-urban distribution of public sector expenditure in an economy, during a particular period of time. Thus, the provision of social and physical infrastructure through public investment and expenditure on some goods and services can directly improve productivity and development in both the urban and rural sector through a more efficient and equitable allocation of resources.
However, a developing region maybe classified into two; urban sector and the rural sector. The urban sector is the region that is defined by town or cities; it is classified as the industrial or modern areas, whereas, the rural sector is an area that is defined by communities, it is largely dominated by traditional agricultural activities. Some developmental economists of the structuralist school posit that some categories of government expenditure on the urban sector are necessary to overcome constraints of economic growth.
Hence, the responsibility of the government in any economic system irrespective of the political arrangement is to initiate policies towards the achieving of four basic micro-economic goals which are price stability, the government regulates the distribution of public goods and services in stimulating the productive capacity of the economy.
Over the years, Nigeria has made conscious and determined effort to attain a high level of social and economic transformation of the economy. So far, the Nigeria economy has had four (4) national development plans in which varying emphasis were made on the achievement of the development goals and objectives, several policy tools were adopted including monetary policy, fiscal policy, exchange control measures, changed from time to time to reflect the changing economic environment and circumstances.
Okowa’s (1991) urban bias thesis stated that a Development policy should include;
i. Enhanced economic growth
ii. Reduction over time of economic dependency
iii. Reduction over time of economic inequality
iv. Reduction over time of unemployment
v. Maintenance of stable price (inflation)
We can therefore identify urban bias with respect of any one of the mentioned development aim. If economic growth could have been enhanced by a distribution of public sector resources that allocated more to the urban sector than to the rural sector, then we say that the given rural-urban perspective is such as to generate greater rural-urban economic dependence than would have been the case. Thus, inequality bias is a situation whereby distribution of income has a relative greater benefit in the sector, in this light, the ratio of unemployment and inflation between the rural and urban sector is used as a measure for inequality bias.
In this line, many development scientists have stated that the rationale for balanced and equitable development to take place in any economy, certain efforts should be made to develop the rural and urban sector simultaneously. In this thesis, Professor Okowa (1991) held the view that development effort in Nigeria has been urban biased, although severe measures have been taken by the Nigeria government to develop the rural areas.
However, our concern in this study is to evaluate the Okowa’s urban bias thesis in Ihiala local government area of Anambra State this study cannot cover the entire country, the researcher focuses on his local government area of origin.
1.2 STATEMENT OF PROBLEM
Prof Okowa’s thesis was published in 1991, about 18 years now and on other research to the best of my knowledge has been carried out to affirm or dispute his urban bias thesis. There is urgent need to do this, in order to see if there are policy changes to develop the rural areas. Again, we also need to study the rural areas to find out empirically, how the policy changes (if there is) have affected the rural areas. We do not have ready evident to show that such research are carried out especially in the researcher’s Local Government Area-Ihiala Local Government Area of Anambra State.
This research is intended to bridge this observed gap. As at when this research was carried out this findings could be said to be correct in many respects. Therefore, it is in the light of the above that this research is undertaken to evaluate the Okowa’s urban bias thesis in Ihiala Local Government Area of Anambra State.
1.3 OBJECTIVES OF THE STUDY
The activities of this research project include:
i. To review the Okowa’s urban bias Thesis and the various development theories.
ii. To determine whether government policies are urban bias
iii. To find out how the policies are implemented in Ihiala Local Government Area.
1.4 RESEARCH QUESTIONS
Some of the questions the study will attempt to proffer answers to include the following;
a. What are the urban development strategies employed by the government in developing Ihiala Local Government Area?
b. To what extent are these government strategies employed to cause urban bias?
c. How do these government expenditure strategies compared in there relative effectiveness in the rural and urban sector?
d. Does public sector expenditure in the rural and urban areas complement each other synergistically?
e. What are the implications of urban bias?
1.5 RESEARCH HYPOTHESIS
The hypothesis have been put forward for testing
H0: Public sector expenditure in Ihiala Local Government Area is not urban bias
H1: Public sector expenditure in Ihiala Local Government Area is urban bias.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study lies on the fact that our rural communities to a large extent need to be developed. It is our belief that this study will serve as an important reference to local government for future development of rural area, based on suggestions advanced therein. It will also serve as a reference point to others who find time of reason alongside with us on the issue of the rural development in Nigeria.
Based on the findings of the research project, the government will be in a better position of either adding or dropping some public sector expenditure programmes in the rural or urban sector in Nigeria.
1.7 SCOPE AND LIMITATION OF THE STUDY
The scope of this study on the evaluation of the Okowa’s urban bias thesis focuses in the Ihiala Local Government Area of Anambra State in Nigeria.
Ihiala Local Government Area is made up of about six (6) towns (Uburu, Mbosi, Iseke, Azia, Orsumaonyu and Lilu) with various villages. The researcher may not go beyond the above scope.
However, there are two limiting factors that affected the researcher’s progress in this work. One is that of inadequate funds to carryout an elaborate research that concern Anambra State in Rivers State. Whereas, the second factor is that of time constraint, hence, the researcher was working within a time frame despite the prolonged academic staff union of universities strike action.
1.8 ORGANIZATION OF THE STUDY
This study is organized into five interrelated chapters.
Chapter one introduces the background of the study, statement of the problem, objectives, research questions, hypothesis, significance, scope, limitations and the organization of the study. Chapter two reviews related literature and theoretical frame of the study.
The three is the research design and method of the study. Chapter four presents and analyzes the data. Finally, chapter five summarizes, recommends and concludes the study.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
0 Add a comment
Sep
14
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
ABSTRACT
This research work focuses on the evaluation of the Okowa’s urban bias thesis in Ihiala local Government Area of Anambra State. The objective that guided this research work was to review the Okowa’s urban bias thesis and then determine how public policy implementation affects in Ihiala Local Government Area. Based on the above objectives, a hypothesis was formulated and we used questionnaires to collect the data from primary source. These sets of questionnaires were drawn from three categories of respondents-farmers, students, traders, civil servants, are classified by three selected sectors namely, Agriculture, education and health, as regards the composite six towns in Ihiala. The Chi-square was used in testing the hypothesis, while frequency tables and simple percentages were used in the data analysis and presentations. However, we found that public sector expenditure, particularly on Agriculture, education and health is highly urban biased in Ihiala. This finding conforms with the Okowa’s thesis on urban bias in Nigeria Development, which therefore suggests the inequitable distribution of potential development programmes in both the urban and rural sectors in Nigeria. The government should adopt some of the potential development policies and programmes to be effective in reaching out to the rural towns and communities. Human resources development should be equitably extended to both the rural and urban sector.
TABLE OF CONTENT
COVER PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of problem 3
1.3 Objective of the study 4
1.4 Research questions 4
1.5 Research hypothesis 4
1.6 Significance of the study 5
1.7 Scope and limitation of the study 5
1.8 Organization of the study 6
CHAPTER TWO: LITERATURE REVIEW AND THEORETICAL FRAME-WORK
Literature Review 7
2. Theoretical framework 16
2.1 Harris and Todaro model 17
2.2 Jorgenson’s Neo-Classical Theory 18
2.3 Fei-Rains theory 19
2.2.4 Lewis theory of development 20
2.2.5 Development and urban bias in Ihiala 22
2.2.6 The Keynesian economic theory 23
CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Research design 24
3.2 Population of the study 24
3.3 Sampling technique 24
3.4 Sample size determination 25
3.5 Data collection instruments and procedure 26
3.6 Method of data analysis 27
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 29
4.2 Allocation of questionnaires and rate of returns 29
4.3 Analysis of respondents 30
4.4 Analysis of relevant questions 31
4.5 Test of hypothesis 32
4.6 Discussion of results 35
CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSION
5.1 Summary 37
5.2 Recommendations 38
5.3 Conclusion 39
Appendices 41
References 44
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Urban bias may be referred to a situation of the development process, whereby the urban sector benefits relatively more in the rural-urban distribution of public sector expenditure in an economy, during a particular period of time. Thus, the provision of social and physical infrastructure through public investment and expenditure on some goods and services can directly improve productivity and development in both the urban and rural sector through a more efficient and equitable allocation of resources.
However, a developing region maybe classified into two; urban sector and the rural sector. The urban sector is the region that is defined by town or cities; it is classified as the industrial or modern areas, whereas, the rural sector is an area that is defined by communities, it is largely dominated by traditional agricultural activities. Some developmental economists of the structuralist school posit that some categories of government expenditure on the urban sector are necessary to overcome constraints of economic growth.
Hence, the responsibility of the government in any economic system irrespective of the political arrangement is to initiate policies towards the achieving of four basic micro-economic goals which are price stability, the government regulates the distribution of public goods and services in stimulating the productive capacity of the economy.
Over the years, Nigeria has made conscious and determined effort to attain a high level of social and economic transformation of the economy. So far, the Nigeria economy has had four (4) national development plans in which varying emphasis were made on the achievement of the development goals and objectives, several policy tools were adopted including monetary policy, fiscal policy, exchange control measures, changed from time to time to reflect the changing economic environment and circumstances.
Okowa’s (1991) urban bias thesis stated that a Development policy should include;
i. Enhanced economic growth
ii. Reduction over time of economic dependency
iii. Reduction over time of economic inequality
iv. Reduction over time of unemployment
v. Maintenance of stable price (inflation)
We can therefore identify urban bias with respect of any one of the mentioned development aim. If economic growth could have been enhanced by a distribution of public sector resources that allocated more to the urban sector than to the rural sector, then we say that the given rural-urban perspective is such as to generate greater rural-urban economic dependence than would have been the case. Thus, inequality bias is a situation whereby distribution of income has a relative greater benefit in the sector, in this light, the ratio of unemployment and inflation between the rural and urban sector is used as a measure for inequality bias.
In this line, many development scientists have stated that the rationale for balanced and equitable development to take place in any economy, certain efforts should be made to develop the rural and urban sector simultaneously. In this thesis, Professor Okowa (1991) held the view that development effort in Nigeria has been urban biased, although severe measures have been taken by the Nigeria government to develop the rural areas.
However, our concern in this study is to evaluate the Okowa’s urban bias thesis in Ihiala local government area of Anambra State this study cannot cover the entire country, the researcher focuses on his local government area of origin.
1.2 STATEMENT OF PROBLEM
Prof Okowa’s thesis was published in 1991, about 18 years now and on other research to the best of my knowledge has been carried out to affirm or dispute his urban bias thesis. There is urgent need to do this, in order to see if there are policy changes to develop the rural areas. Again, we also need to study the rural areas to find out empirically, how the policy changes (if there is) have affected the rural areas. We do not have ready evident to show that such research are carried out especially in the researcher’s Local Government Area-Ihiala Local Government Area of Anambra State.
This research is intended to bridge this observed gap. As at when this research was carried out this findings could be said to be correct in many respects. Therefore, it is in the light of the above that this research is undertaken to evaluate the Okowa’s urban bias thesis in Ihiala Local Government Area of Anambra State.
1.3 OBJECTIVES OF THE STUDY
The activities of this research project include:
i. To review the Okowa’s urban bias Thesis and the various development theories.
ii. To determine whether government policies are urban bias
iii. To find out how the policies are implemented in Ihiala Local Government Area.
1.4 RESEARCH QUESTIONS
Some of the questions the study will attempt to proffer answers to include the following;
a. What are the urban development strategies employed by the government in developing Ihiala Local Government Area?
b. To what extent are these government strategies employed to cause urban bias?
c. How do these government expenditure strategies compared in there relative effectiveness in the rural and urban sector?
d. Does public sector expenditure in the rural and urban areas complement each other synergistically?
e. What are the implications of urban bias?
1.5 RESEARCH HYPOTHESIS
The hypothesis have been put forward for testing
H0: Public sector expenditure in Ihiala Local Government Area is not urban bias
H1: Public sector expenditure in Ihiala Local Government Area is urban bias.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study lies on the fact that our rural communities to a large extent need to be developed. It is our belief that this study will serve as an important reference to local government for future development of rural area, based on suggestions advanced therein. It will also serve as a reference point to others who find time of reason alongside with us on the issue of the rural development in Nigeria.
Based on the findings of the research project, the government will be in a better position of either adding or dropping some public sector expenditure programmes in the rural or urban sector in Nigeria.
1.7 SCOPE AND LIMITATION OF THE STUDY
The scope of this study on the evaluation of the Okowa’s urban bias thesis focuses in the Ihiala Local Government Area of Anambra State in Nigeria.
Ihiala Local Government Area is made up of about six (6) towns (Uburu, Mbosi, Iseke, Azia, Orsumaonyu and Lilu) with various villages. The researcher may not go beyond the above scope.
However, there are two limiting factors that affected the researcher’s progress in this work. One is that of inadequate funds to carryout an elaborate research that concern Anambra State in Rivers State. Whereas, the second factor is that of time constraint, hence, the researcher was working within a time frame despite the prolonged academic staff union of universities strike action.
1.8 ORGANIZATION OF THE STUDY
This study is organized into five interrelated chapters.
Chapter one introduces the background of the study, statement of the problem, objectives, research questions, hypothesis, significance, scope, limitations and the organization of the study. Chapter two reviews related literature and theoretical frame of the study.
The three is the research design and method of the study. Chapter four presents and analyzes the data. Finally, chapter five summarizes, recommends and concludes the study.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: AN EVALUATION OF THE OKOWA’S URBAN BIAS THESIS IN IHIALA L.G.A OF ANAMBRA STATE
0 Add a comment
Sep
14
AN ASSESSMENT OF THE ROLE OF INTEREST RATE IN ENHANCING INVESTMENT IN DEVELOPING COUNTRIES: THE NIGERIAN EXPERIENCE (1981-2005)
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AN ASSESSMENT OF THE ROLE OF INTEREST RATE IN ENHANCING INVESTMENT IN DEVELOPING COUNTRIES:
THE NIGERIAN EXPERIENCE (1981-2005)
ABSTRACT
This work examines the role of interest rate in enhancing investment in Nigeria from 1980-2004. In carrying out the study we employ and econometric data analysis techniques of multiple regressions to text the relationship between interest rate, real income and investment. Our result reveals that interest rate is negatively related to investment while real GDP was positively linked to investment. The low level of investment and economic growth in Nigeria make it imperative to involve a policies that will enhance favourable interest rate and income level that will encourage investors to borrow money to invest in the economy. The study therefore, recommends a reduction of interest rate, upward review of personal income diversification of the productive base of the economy among others.
TABLE OF CONTENTS
PAGE
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Abstract vi
Table of content vii
List of table x
CHAPTER ONE: INTRODUCTION
1.1 Background of the study 1
1.2 Statement of the problem 5
1.3 Objectives of the study 8
1.4 Research Hypothesis 9
1.5 Scope and limitation of the study 9
1.6 Significance of the study 10
1.7 Organization of the study 10
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction 12
2.1 Theories of interest rate determination 12
2.2 Determinants of investment in Nigeria 20
2.2.1 Interest rate structure 21
2.2.2 Exchange rate volatility 23
2.2.3 Investment capital 26
2.2.4 High inflation 29
2.2.5 Maturity structure of bank credit 29
2.2.6 Incentives to encourage foreign private investment 30
2.2.7 Inadequate infrastructural facilities 34
2.2.8 Debt overhang and debt service burden 35
2.2.9 Inadequate legal framework 36
2.2.10 Complex regulatory framework 37
2.2.11 Corruption 39
2.3 Interest rate and investment 39
CHAPTER THREE: METHOD OF STUDY
3.1 Introduction 46
3.2 Research design 46
3.3 Data required 46
3.4 Data collection method 46
3.5 Method of data analysis 47
3.6 Model specification 48
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 49
4.2 Data presentation 49
4.3 Data analysis 51
4.4 Interpretation of regression result 52
4.5 Finding and implications of our regression result 53
CHAPTER FIVE: SUMMARY, RECOMMENDATION AND CONCLUSION
5.1 Summary 55
5.2 Recommendations 56
5.3 Conclusion 58
Reference 60
LIST OF TABLE
PAGE
Table 4.1: Investment, interest rate, and real GDP in
Nigeria 1980-2004 50
Table 4.2: Regression Result 51
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Interest rate is one of the most critical and controversial of all monetary and financial policies of developing economies. The policy is critical because, any interest rate policy has a direct effect on series of marco-economic variables which go beyond the monetary sector. It is controversial because the debate on the appropriate level and direction of interest rates in developing countries is largely unresolved (MCKINNON 1973; Shaw 1973, and Ogiogio 1989).
While some analyst perceive the interest rate as the cost of investment which should be kept low to encourage investment in developing countries, others regard it as basically the cost of capital which is in short supply in these countries. According, proponents of the later view argue that interest rate should be kept higher in Developing countries than developed ones. However, which ever view one holds there is no gain saying the fact that interest rate policy of any economy is very crucial to it’s development primarily because of the effect of the policy on savings/investment and through the financial intermediation role of the banking sector.
From the Lender’s point of view, interest rate is the reward for saving now and spending later. Thus, of primary concern to Lenders deciding how much to save and what financial assets to acquire, is the purchasing power of the funds returned when the financial asset are sold or returned later (Lombra,1984). This underlines the concept of the real interest rate in which the normal interest rate demanded by the Lender is viewed as being made up of two components. An inflation rate component which is perceived as a premium for saving now and paying later by the lender and secondly, a real interest rate component. Thus, savings assumed to be positively related to the real interest rate and investment at a given rate of economic growth. Proponents of this thesis, recommend that policy endavour to ensure lower real interest rate and expansion of the financial net work (Bhatia and Khatkhate, 1975). Anything short of this, like the policy of administrative control of interest rate and credit, will hold the real interest rate below its equilibrium level and thus leads to financial repression.
The role interest rate play in determining investment and, hence economic growth, has been a matter of controversy over a long period of time. Yet, what constitutes an appropriate interest rate policy still remains to be a puzzling question. Until the early 1970’s, the main line of argument was that because the interest rate represents the cost of capital, low interest rate will encourage the acquisition of physical capital (investment) and promotes economic growth. Thus, during this era, the policy of low real interest rate was adopted by many countries including the developing countries of Africa. This position was however, challenged by what is now known as the orthodox financial liberalization theory. The orthodox approach to financial liberalization (Mckinnon-Kapar and the broader Mckinnon-Shaw hypothesis) suggests that high positive real, interest rates will encourage saving and later investment and growth in the long run, on the classical assumption that saving is necessary for investment, the orthodox approach brought into focus not only the relationship between investment and real interest rate, but also the relationship between the real interest rate and saving. It is argued that financial repression which is often associated. With negative real deposit rates leads to the withdrawal of funds from the banking sector. The reduction in credit availability, it is argued, would reduce actual investment and hinder growth. Because of this complementarily between savings and investment, the basic teaching of the orthodox approach is to free deposit rates-positive real interest rates will encourage saving; and the increased liabilities of the banking sectors will oblige financial institution to lend more resources for productive investment in a more efficient way. Higher loan rates, which follow higher deposits rates, will also discourage investment in low-yielding projects and raise the productivity of investment. This orthodox view became highly influential in the design of IMF-World Bank Financial liberalization programmes which were implemented by many Africa countries including Nigeria, under the umbrella or Structural Adjustment Programme. In this study there we seek to assess the extent interest rate has gone in stimulating or effecting the level of investment in Nigeria.
1.2 STATEMENT OF THE PROBLEM
Since independence in 1960 Nigeria has been struggling to achieve a sustainable economic growth and development. The country has consistently witnessed low rate of growth and per capital income. One of the factors that accounted for this poor economic growth and performance is the low level investment.
Prior to the present period privatization the bulk of investment in Nigeria was done by the public (government). Investment by the public was over 70%. While the private sector has the rest. As a result of the relinquishing of the productive sector to the private individual (privatization) the private sector is yet to take over the bulk of investment in the economy even when government had withdrawn.
In reaction to the above scenario, the Nigerian government with the aid of the IMF adopted a comprehensive programme of economic reform known as the Structural Adjustment Programme (SAP) in 1086. Prior to this period, especially in the first half of 1980’s the Nigeria economy was in severe crisis arising from the defective structure of the economy, falling prices of crude oil in the international market, huge external dept stack and low level of investment.
The main aim of the economic reform process was therefore, to restructure the production and consumption patterns of the economy, through the elimination of price distortion and reduction of the economy, on crude oil export and import of raw material and consumer goods. Thus the adoption of relevant pricing policies in all economic sectors with greater reliance on market forces and consequently reduction in complex administrative control became one of the three basic policy instruments of the adjustment programme (Uwatt, 1999).
While the reform programme touched all sectors of the economy, the financial sector reforms aimed at removing the pervasive distortions introduced into the system through prolonged use of direct controls and excessive government intervention and improving the efficiency of the financial resources for economic development (Oke, 1995) one major sources of distortion in the financial resources of distortion in the financial sector was regulated interest rate. Beginning from March 1970 up to December 1986, interest rate was institutionally determined and administered in Nigeria. The Central Bank of Nigeria (CBN) was charged with this responsibility and throughout the period interest rates were fixed at very low level to promote investment and growth in the private sector and to keep interest payment on public sector borrowing as low as possible. Unfortunately this became a bane to funds mobilization through personal savings.
However, the posture of government to deregulate the economy in order to enhance competition and investment necessitated the introduction of interest rate, based on market forces with effect from august 1987. The general argument therefore is that interest rates in Nigeria have been high and unrealistic to enhance the required level of investment and economic growth.
Though some marginal improvements have been recorded in the country since the inception of the present administration due to its pressure on financial institutions to reduce interest rates in order to stimulate investment and economic growth, we are not sure that such improvement is captured by government effort. Therefore there is the need to critically examine the role of interest rate in enhancing investment in Nigeria. This is what has promoted this study.
1.3 OBJECTIVES OF THE STUDY
This study has its main objective to examine the impact of real interest rate on the level of domestic investment in Nigeria from 1981-2005. In specific terms, the study has the following objectives:
i. To find out the interest rates obtainable in Nigeria from 1981- 2005.
ii. To determine the level of investment in Nigeria from 1981- 2005.
iii. To examine the impact of real interest rate on the level of investment in Nigeria from 1981-2005.
1.4 RESEAERCH HYPOTHESIS
This study was guided by the following hypothesis
H0: ao=O: There is no significant relationship between real interest rate and the level of domestic investment in Nigeria from 1981-2005.
Hi: ao = O: There is a significant relationship between real interest rate and the level of domestic investment in Nigeria from 1981-2005.
1.5 SCOPE AND LIMITATION OF THE STUDY
This study is concerned with real interest rates with emphasis on the implications on domestic investment in Nigeria from 1981-2005. Prior 1986 represents the regulated era with government determining the cost of funds which was investment friendly due to low interest rates. The 1981-2005 period represents the liberalization period with market mechanism determining cost of funds. Thus, these time frames, the economic scenarios and there implications on interest rates and investments serve as limitations for this study.
1.6 SIGNIFICANCE OF THE STUDY
The result of this study will provide a director for policy makers on the role interest rate play in fund mobilization and investment in Nigeria. It will also assist policy makers on designing economic policies aimed at mobilizing domestic resources for investment.
The study also provide a window for financial institutions on strategies for fund mobilization and allocations (financial intermediation) in order to improve their performance in particular and that of the economy at large. Finally a study of this type will add to literature in monetary economics and serves as basic for further studies.
1.7 ORGANIZATION OF THE STUDY
This is organized into five chapters. We begin by X-raying the interest rate and the level of investment in Nigeria, followed by the statement of problem, objectives of the study, research hypothesis, significance of the study, scope and limitation of the study and organization of study. Chapter two covers the review of relevant/related literature. Here emphasis is placed on findings of other scholars as a basis for establishing the points of departure of this investigation. The procedure followed in carrying out this investigation i.e the research design, type of data required, sources of data, method of data analysis and model specification are contained in chapter three. Chapter four centres on the presentation of data analysis of data and interpretation of results and major findings, finally chapter five provides the summary, conclusion and recommendations for the study.
AFFILIATE LINKS:
www.easyprojectmaterials.com.ng
www.easyprojectsmaterials.com.ng
www.easyprojectsmaterials.com
www.easyprojectsmaterial.com
www.easyprojectsmaterial.com.ng
www.easyprojectmaterial.com.ng
www.projectmaterial.com.ng
www.projectmaterials.com.ng
www.projectmaterials.com
www.myprojectmaterial.com.ng
www.myprojectmaterials.com
www.researchprojectmaterial.com
www.researchprojectmaterials.com
www.nairaproject.net
www.nairaprojects.net
www.nairaproject.biz
www.nairaprojects.biz
www.nairaproject.com.ng
www.nairaprojects.com.ng
www.nairaproject.edu
www.nairaprojects.edu
Posted 14th September 2015 by DANIEL CHUKWUDI
Labels: AN ASSESSMENT OF THE ROLE OF INTEREST RATE IN ENHANCING INVESTMENT IN DEVELOPING COUNTRIES: THE NIGERIAN EXPERIENCE (1981-2005)
0 Add a comment
Sep
14
AGRICULTURAL DEVELOPMENT AND ITS IMPACT ON THE NIGERIAN ECONOMY
ATTENTION:
BEFORE YOU READ THE PROJECT WORK, PLEASE READ THE INFORMATION BELOW. THANK YOU!
TO GET THE FULL PROJECT FOR THE TOPIC BELOW PLEASE CALL:
08068231953, 08168759420
TO GET MORE PROJECT TOPICS IN YOUR DEPARTMENT, PLEASE VISIT:
www.easyprojectmaterials.com
www.easyprojectsolutions.com
www.worldofnolimit.com
AGRICULTURAL DEVELOPMENT AND ITS IMPACT ON THE NIGERIAN ECONOMY
ABSTRACT
The purpose of this work was meant to examine Agricultural development and its impact on the Nigerian economy. The employed variables are Agricultural productivity and gross domestic product. Our result show that R2 is 41 percent that is 41 percent changes in the employed variables account for the down fall of the Agricultural sector. Our F test will show that our F calculator was much higher than our F theoretical in the table at 5% alpha probably level. Thus the researcher will reject the alternative hypothesis agricultural productivity has not contributed much to the GDP. Based on the findings of the research, the researcher will give some recommendations such as:
i. Government should allocate substantial amount if financial resources to the agricultural sector.
ii. Government should make efforts to encourage the Nigerian farmers with finance and other agricultural incentives and put in place corporate body to make sure that farmer benefits of this because individuals more especially those in the government will deprive them of it.
iii. Policies made on agriculture should be consistent.
TABLE OF CONTENTS
Title Page – – – – – – – – – – – i
Certification – – – – – – – – – – ii
Dedication – – – – – – – – – – iii
Acknowledgement – – – – – – – – – iv
Abstract – – – – – – – – – – – v
Table of Contents – – – – – – – – – vi
List of Tables – – – – – – – – – – vii
CHAPTER ONE: INTRODCUTION
1.1 The Background of the Study – – – – – – 1
1.2 Statement of the Problem – – – – – – – 3
1.3 Objective of the Study – – – – – – – 4
1.4 Significance of the Study – – – – – – – 5
1.5 Research Question/Hypothesis – – – – – – 5
CHAPTER TWO: REVIEW OF LITERATURE
2.1 Literature Review – – – – – – – – 6
2.2 Past Efforts Improving Agriculture in Nigeria – – – 9
2.3 Agricultural Development Programme – – – – 9
2.4 The National Agricultural Policy – – – – – 10
2.5 Agriculture in Economic Development – – – – 13
CHAPTER THREE: METHODOLOGY
3.1 Introduction – – – – – – – – – 16
3.2 Sample to Study – – – – – – – – 16
3.3 The Model – – – – – – – – – – 16
3.4 The Model Estimation Technique – – – – – 17
3.5 Type of Data Required and Sources – – – – – 17
CHAPTER FOUR: PRESENTATION OF DATA
4.1 Introduction – – – – – – – – – 18
4.2 Presentation of the Results on Ordinary Least Square
Technique (OLS) – – – – – – – – 18
4.3 Interpretation of Results – – – – – – – 19
CHAPTER FIVE: SUMMARY, RECOMMENDATION AND CONCLUSION
5.1 Discussion of Findings – – – – – – – 21
5.2 Summary – – – – – – – – – – 21
5.3 Conclusion – – – – – – – – – 23
5.4 Recommendation – – – – – – – – 24
Reference – – – – – – – – – – 27
CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
The contemporary Nigerian society has in the last two decades witnessed an upsurge of socio-economic difficulties associated from neglect of the agricultural sector of the economy. Though, the economy was predominantly depended on agricultural products before such as cocoa, palm kernel, palm produce, groundnuts, cashew nuts, before the political independent in 1960. The advent of discovery of crude oil in large quality has shifted the focus of economy earning from agriculture to oil sector, causing over dependence on crude oil production at the detriment of other sectors.
Most non-oil sectors in Nigerian economy suffer setback, even some that are productive become less or non-productive because of focus diversion and lack of proper financing especially in agricultural sector of the economy. Thus, the fact is that over the years, the inflecting pains of neglect of non-oil or agricultural products experienced in the Nigerian economy especially as it affects the production of Agro-Allied, semi processed manufacturing products which result to general fall in standard of living, affecting the volume of non-oil production adversely.
As a result of this ugly development, the Nigerian economy has since last two decades experiencing various forms of economic deformities as shortages or non-availabilities of primary products, also increasing the level of unemployment. Thus, a situation which in several occasions has resulted to social unrest in the Nigerian Economy.
It is in the height of the above and other fundamental causes of the growing decline in the contribution of the agricultural sector to economic development that the federal government (and the state government) introduced a variety of integrated policy measures towards strengthen the agricultural sector.
Some of these measures include government direct participation in food production; embodied in the reforms or changes directed towards re-examining the country’s agricultural policies.
Government’s mean instrument for direct production in agriculture is the National Accelerated Food Production Programme (NAFPP), launched 1973. It was tailored specifically to increase the production of the main food crops, rice maize guinea corn, millet, wheat, cassava and yams large scale irrigation farms of the eleven River Basin Development Authorities (RBDA) launched in 1973, also with the mandate to harness the water resources of the country provide infrastructure such as road and electricity and distribute various farm inputs. Operation Feed the Nation (OFN) of 1976 aimed at food self-sufficiency. Also was the green revolution, introduced in 1980 which attempted to combine the above mentioned features of NAFPP and ADP. It is the early success of these pilot ADP and others still under implementation at that period that have gingered the federal government into adopting the world bank ADP concepts as the core of its agricultural development efforts, and adopt the approach as a nationwide programme. Agricultural development programme is a new state-wide policy, which the federal government introduced to aid farmers in various ways to increase their output and also develop rural areas. Thus ADP can be termed as a progressive and systematic transformation of the traditional agricultural system in order to increase the total output and productivity per farms, minimize underemployment, improve the living conditions of farmers and the rural population in general.
1.2 STATEMENT OF PROBLEM
Agriculture is the main occupation of Nigeria and so far a lot of development programmes has taken place under the regime of Olusegun Obasanjo, such as National Agricultural Policy (NAP), National Economic and Empowerment Development Strategy (NEEDS) which is vigorously implemented in the various sub-sectors within the limits if available resources. But productivity has stagnated, slowing wider economic growth and exacerbating poverty with it. Agriculture can be said to be developed when it contributes immensely to the growth and development of a nation by;
i. Supplying raw materials required by the industrial sector
ii. Contributing immensely to country’s Gross Domestic Product (GDP).
iii. Provide employment for the teeming population
1.3 OBJECTIVES OF STUDY
The objectives of this study are to:
i. To increase in production and processing of exportable commodities with a view to increasing their foreign exchange earning capacity and further diversify the country’s export base and sources of foreign exchange earnings.
ii. Modernize agricultural production processing, storage and distribution through the fusion of improved technologies and management so that agriculture can be more responsive to the demands of other sectors of the economy.
iii. To create more agricultural and rural employment opportunities to increase the income of farmers and rural dwellers and productively absorb and increasing labour force in the nation.
1.4 SIGNIFICANCE OF THE STUDY
A study of this type is to tell how important the agricultural sector is to the development of the Nigerian economy. We know that Agricultural does not just affect the lives of individuals, but as far as industrializing a country. With the various development programmes taking place in the Agricultural sector in the president’s reform programmes, it is imperative to know that for a country to develop the basic need of its people must be met, it has to be able to accommodate the teeming population with its produce then the surplus can be used for exchange of technologies to develop the country.
1.5 HYPOTHESIS
Ho: Null hypothesis
There is no significant difference between agricultural productivity and gross domestic product
Hi: Alternative Hypothesis
There is a significant difference between agricultural productivity and gross domestic product.
HOW TO RECEIVE PROJECT MATERIAL(S)
After paying the appropriate amount (#5,000) into our bank Account below, send the following information to
08068231953 or 08168759420
(1) Your project topics
(2) Email Address
(3) Payment Name
(4) Teller Number
We will send your material(s) after we receive bank alert
BANK ACCOUNTS
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 0046579864
Bank: GTBank.
OR
Account Name: AMUTAH DANIEL CHUKWUDI
Account Number: 3139283609
Bank: FIRST BANK
FOR MORE INFORMATION, CALL:
08068231953 or 08168759420