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ASSESSMENT OF PROBLEMS ASSOCIATED WITH SOME SELECTED LOCAL INDUSTRIES IN A DEPRESSED ECONOMY
ABSTRACT
Local industries are faced with many problems which make the sector perpetually
uninteresting and undeveloped in the country. Among which are inadequate storage
facilities, undeveloped infrastructure facilities, unstable political environment, not
having access to credit facilities etc. This study is aimed at assessing the general
problems associated with some local industries in a depressed economy, and to
examine the problems facing Nigerian businessmen in establishing manufacturing
industries. Data was collected through the use of questionnaires and extract from
textbooks, journals, Newspapers, Official reports and documents and other relevant
related work on the topic under study. To analyze the information collected,
descriptive and discursive techniques of data analysis was adopted. Research
findings revealed that local industries in Nigeria suffer financial weaknesses in
setting up, management and sustenance of the enterprises. Lack of knowledge in
marketing and competitions was another problem faced by local industries; others
are high rates of wages in comparison with other larger companies, costly new
materials and poor infrastructure facilities. To guide against the aforementioned
problems, the following measures can be taken among others,
Government should make more funds available through financial assistance with low
interest rates of not more than 2%.
Setting up of body to monitor the activities of business enterprises from Local, State
and Federal level respectively, in addition, equity base of Nigerian Bank for
commerce and industry should be increased.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
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