ASSESSMENT OF PROBLEMS ASSOCIATED WITH SOME SELECTED LOCAL INDUSTRIES IN A DEPRESSED ECONOMY

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Date
2006-11
Authors
AMINU, Habibu Sani
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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.
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BEING A PROJECT SUBMITTED TO THE POST GRADUATE SCHOOL OF AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION (MBA) DEPARTMENT OF BUSINESS ADMINISTRATION, FACULTY OF ADMINISTRATION, AHMADU BELLO UNIVERSITY, ZARIA. NOVEMBER, 2006
Keywords
ASSESSMENT,, PROBLEMS,, ASSOCIATED,, SELECTED,, LOCAL,, INDUSTRIES,, DEPRESSED,, ECONOMY,
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