MULTI-LATERAL FINANCIAL INSTITUTIONS AND CAPITAL FORMATION IN NIGERIA (A CASE STUDY OF THE PERFORMANCE OF ADB AND NERFUND)

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Date
1999-11
Authors
IBRAHIM, Mohammed
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Abstract
ABSTRACT Capital formation is an important essential ingredient of industrialisation in any economy, be it developing or developed. Where the basic elements of Capital formation, that is hard labour, and technological know-how are available within an economy. The problem of financing industrialisation will be essentially domestic. The countries of Africa free these acute economic difficulties in sourcing finance for infrastructural development, but with the will and determination, the developing countries of Africa can act to set the new base for a new millenium, where life can be significantly improved. The role of multilateral development finance institutions in financing economic development in developing countries cannot be over-emphasized, this is particularly so, as funds from multilateral institutions constitute the single largest source of foreign investment in Nigeria and in Africa as a whole. This study seeks to analyse the various attempts made in the past at financing capital formation in Nigeria from Import substitution government owned largescale enterprises to government agencies, promote private sector initiatives. The study will also review the overall operations, performance and commitment of multilateral financing agencies and also give an insight into how better they can contribute to capital formation and hence economic development of Nigeria. Due to constraints, time and unavailability of data and materials, the scope of the study have limited on indepth examination of the two latest actors in the field - the African Development Bank (ADB) and the National Economic Reconstruction Fund (NERFUND).
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DEPARTMENT OF BUSINESS ADMINISTRATION AHMADU BELLO UNIVERSITY. ZARIA
Keywords
MULTI-LATERAL,, FINANCIAL,, INSTITUTIONS,, CAPITAL,, FORMATION,, NIGERIA, CASE STUDY,, PERFORMANCE,, ADB,, NERFUND
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