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AN EVALUATION OF THE CONTRIBUTIONS OF BORNO INVESTMENT COMPANY LIMITED TO THE SOCIO-ECONOMIC DEVELOPMENT OF THE STATE
ABSTRACT
This study is essentially an evaluation of the contributions of Borno
Investment Company Limited to the socio-economic development process of the
State.
Development whether at the national. Stale or Local Government levels has
always constituted the central focus of every administration. Industrialization the
world over, is duly recognised as a catalyst to rapid economic growth and
development.
In Borno State and Nigeria in general the great desire to industrialize arises
partly because of the relative underdevelopment of the State. Another major aspect
which has been confronting the Government of Borno State overtime is the
compelling challenge to improve and better the socio-economic conditions of its
teeming population living in both urban and rural areas of the State.
As a result of the relative underdevelopment of the State, the Stale
Government depends on over 70% of her total annual revenue on the statutory
allocation coming from the Federal Government. This situation has been
undermining the ability of the government in performing its function efficiently and
effectively to its people. To reverse this bad trend the state government established
Borno Investment Company Limited to act as a catalyst in broadening the investment
as well as the socio-economic base of the state and consequently leading to the
economic growth and development of the state.
This work made use of the evaluative research techniques. The research is
aimed at achieving some practical goals; its major emphasis is on testing that practical
viii
value of some action programmes. It is in this regard that the descriptive or survey
and the documentary or historical research methods were used to obtain primary and
secondary data respectively. Questionnaire and structured interview constituted the
primary source of data. Official publications by the management, gazette,
information brochure etc. constituted the source of secondary data, fables and
percentages were used for data presentation and analysis.
The study found out that since the company commenced operations it has
witnessed a change in the tempo of investment activities especially in the areas of
shares acquisition, project financing and implementations within the slate. The
company now generates some relatively sizeable revenue. As the study found out the
company has since 1991 ceased to receive any subvention from the government and
has continued to generate its own revenue both for investments and smooth
functioning of the company. The study also found that the company has a high
employment capacity especially in the resuscitated industries.
The study recommended that the state government should endeavour to
channel huge capital to BICL for more investment in such areas as pharmaceutical,
real estate development, soft drink etc.
BICL should endeavour to extend its investments and services to all Local
Government councils of the state that are yet to feel company’s impact. Finally,
further research is recommended whether to retest the findings of this work or to
further expand the findings where necessary.
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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