-
The Role Of Private Companies To The Development Of Nigeria Economy
[A CASE STUDY OF NICO INSURANCES COMAPANY]
CHAPTER ONE -- [Total Page(s) 2]
Page 2 of 2
-
-
-
1.2 STATEMENT OF THE PROBLEMS
Despite the huge investment in public enterprises in Nigeria their services do not meet the demands and aspiration of the populace. It is estimated that successful Nigeria government have invested up to 800 billion naire in government owned enterprises annual returns on this huge investment have being well below 10%. These inefficiencies and in many case huge losses are charged against the public treasury with the dealing revenue and escalating demand for effective and affordable social service the general public has stepped up his yearning for state own enterprises to become more efficient.
Furthermore, state enterprises suffer from fundamental problem of defective capital structure resulting in heavy dependency or burden on national treasury most public enterprises are characterized with excessive bureaucratize control and bottlenecks. Finally, other problem includes mis-management of fund blatant corruption these short coming take a heavy toll on the national economy.
1.3 THE OBJECTIVES OPF THE STUDY
The main object of this study is to:-
1a. Assert the cost implication and benefit of privatization programmer of the public enterprises on the economy.
2b. Another objective is to know if through privatization, financial resources would be mobilized through sale and to reduce public debts.
3c. Also to examine core investors and procedure for their identification and impact on the economy.
4d. Lastly, to know if privatization would attract new investors, particularly, foreign investors including new technologies and management skill.
1.4 SIGNIFICANCE OF THE STUDY
Privatization policy came into effect with the advent of democracy, NICON insurance company was therefore privatized withy the aim of enhancing efficiency and good service delivery to the general public.
The main significant of the study is to give full expression 8and details of privatizating insurance company (NICON in particular). The significant are numerous in number among which are:-
a bringing insurance services closer to the society with the extensive network of offices and agents across the country.
b it enhances transparency and enable. The investing public to participate in the transaction of the company
c The general public and other financial institution would be able to note that nicon remains the only insurance company in Nigeria today where the federal government has equity participation, thereby enhancing the much needed strength and credibility to handle any financial risk.
1.5 SCOPE 0F THE STUDY
The area of the study will limited to the relevance of private companies to the development of Nigeria economy between the periods of 1987 to 2007. the importance of this period is due to the fact that the factors that influence infrastructural development characterized the period.
1.6 LIMITATIONS AND CONSTRAINTS OF THE STUDY
The study will be limited to the relevance of private companies to the development of Nigeria economy as a result of limited resources with respect to cost of researching and availability of data and time.
Another problem is as a result of poor response from the staff of the organization some staff will not give you a full detail about their company for security reasons. Financial constraint was another problems encountered in terms of cost of transportation to various point for data collection and keeping appointments.
1.7 PLAN OF THE STUDY
The project work is arranged in the following order:-
Chapter one comprises the introduction of the study, background of the study, statement of the problem, objectives of the study, significance of the study, scope of the study, limitation and constraints of the study, definition of terms, plan of the study.
Chapter two reviews related literature on the topic privatization conception definition issue, objective of private company, performance of public enterprises since privatization or private company. achievement of privatization programme.
Chapter three contain research methodology, research design, nature and source of data, research instruments employed for data, population and sample size, sampling procedure employed.
Chapter four contains data presentation and analysis while chapter five deals with summary of the findings, recommendation, conclusion references and questionnaire.
CHAPTER ONE -- [Total Page(s) 2]
Page 2 of 2
-
