REVENUE COLLECTION AT THE LOCAL GOVERNMENT LEVEL PROBLEMS AND PROSPECTS
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TITLE PAGE
REVENUE COLLECTION AT THE LOCAL GOVERNMENT LEVEL PROBLEMS AND PROSPECTS
BY
---
EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, "revenue collection at the local government level problems and prospects" by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
PROJECT DESCRIPTION: This work "revenue collection at the local government level problems and prospects" research material is a complete and well researched project material strictly for academic purposes, which has been approved by different Lecturers from different higher institutions. We made Preliminary pages, Abstract and Chapter one of "revenue collection at the local government level problems and prospects" visible for everyone, then the complete material on "revenue collection at the local government level problems and prospects" is to be ordered for. Happy viewing!!!
The adverse situation in the various local government areas of Nigeria has led the researcher to go into this very topic. Hence, the purpose of this work is to enlighten people, mostly students in the school of financial studies on how revenue is generated in local governments, problems confronting them as regards revenue generation as well as prospects to the problems.
However, local governments are expected to use the fund generated in embarking on income earning projects, projects,that come under fee or bill charging utilities like portable water, electricity, construction of market squares etc.
However, before fund can be generated, one must make ways of getting the funds like grants given to local governments for some purposes by the federal government. The central government also determines the sources, extent, purpose and maximum duration for which borrowing is to embark upon by the local government and not just going ahead to borrow.
Local government raise loans to purchase plants and equipment, as well as other projects whose costs are too great for them to embark on at a time.
Furthermore, local authorities in Nigeria are responsible for the establishment and maintenance of public motor parts, bad roads, market squares etc.
It is therefore recommended for students in the school of financial studies at all level (who will be opportune to lay hands on this write up) as a ground for the much needed funds internally generated revenue to facilitate projects execution by local governments.
TABLE OF CONTENT
Title page
Approval Sheet
Dedication
Acknowledgement
Table of content
CHAPTER ONE: INTRODUCTION
- Introduction/ background
- Statement of research problem
- Research question
- Objective of the study
- Research hypothesis
- Significance of the study
- Scope and limitation of the study
- Definition of the terms
- Organization/ plan of the study
CHAPTER TWO: LITERATURE REVIEW
- Literature review
- Desirable types of credit facilities by oceanic bank international plc.
- Procedure on customers application or credit facilities in oceanic bank international plc.
CHAPTER THREE
- Research methodology
- Research design
- Population
- Sample and sampling technique
- Method of data collection
- Method of data analysis
CHAPTER FOUR
- Data presentation and analysis
- Introduction
- Discussion of research question testing and findings.
CHAPTER FIVE
- Summary, conclusion and recommendations
- Summary of findings
- Conclusion
- Recommendations
- suggestions for further studies
CHAPTER ONE
- INTRODUCTION
1.2 BACKGROUND OF THE STUDY
What is Nigeria Bank of companies? They are industries specialized in the provision of equity capital and loan for medium and long term loan investment to businesses, engaged in industries and commerce only.
On the other hand, the Nigeria bank of companies was established to accomplish such specialized roles in the development of the economy marked the emergence of specialized banking in Nigeria. These are the Nigeria industrial Development Bank (NIDB) and the Nigeria bank for commerce (NBCI) and the federal mortgage bank of Nigeria (FMBN) they are Lagos established to take care of the agricultural and housing needs of the economy as these were not adequately catered for by the conventional banks.
The Nigeria development bank also provides financial capital for industries either by way of loan grants of equity share. Initiation and proportion of industrial project especially those that are of a small scale business. And also the people and community banks are also important in sources of finance to small scale business ventures.
The importance of small-scale business enterprises in the survival of Nigerian economy cannot be over emphasized. They have moved from subsistence for pre-indigenization period to a position of importance in the country industrialization process. In view of the importance of small scale industries in the development of any nation which is desired to have rapid and balance industrials development and which cannot affoed to ignore its small scale industrial sectors support. In this regard, the acquisition and utilization of financial resources are very important to every business venture specific attention on the small-scale businesses is base on the expected impact and potential contribution as well as their accelerated effect in achieving macro objectives pertaining to full employment, income, distribution and the development of local technology.
Adequately, financial condition is necessary for the survival of small-scale businesses, whether the financial resources come from personal savings industrial sponsors, borrowed from bank or the public. The right financial mix is important for the success of this business venture. Banks as one of the major source of financial assistance to business venture by the way of loans to supplement the shortfall inequity capital and management support to assist project to ensure survival. In many business, loan have become indispensable where sizeable amount of working capital is usually tied down in receiving incentives, bank loan usually supplement such shortage in working capital.
there is no doubt that factors of production including capital are in short supply. Given the fact of this relative scarcity in capital coupled with the indispensability in any form in business organizations. A number of banks have been established with the objective of increasing the supply of capital to these business ventures. In Nigeria, commercial banks have been set up side by side with development banks as additional sources of capital to business ventures especially small-scale businesses.
1.2 STATEMENT OF RESEARCH PROBLEM
In spite of the role of industrialization in general to the enhancement of the standard of living of people. The relevance and important role of small-scale business organization, in numbers of problem continue to impede the growth and development of small scale industries in Nigeria. Some of these problems responsible for the slow pace of industrial development in Nigeria are as follows.
- Inadequate technical know how?
- Inadequate capital and funds and maintenance of infrastructure necessary for industrial growth
- Lack of consistent, clear and purposeful industrial policy. It’s within the context of these problems that we shall be looking at the prospect of achieving government aspiration about designing policies to stimulate the growth of small scale venture in Nigeria.
Almost all the previous researchers in industrial development in Nigeria. It has been arrange argued that all other problems resolve around this very importance issues of lack of adequate fund for investment. It placed the problem of inadequate funds as the upper most impeding problem to the growth of industrial development in Nigeria. It is a sort of vicious circle because the people are poor, it becomes a very difficult task to raise substantial capital through private sources for commencement and expansion of industrial venture.
Inadequate fund makes it impossible to hire the service of technical expert and purchase of modern equipment. This limits the scope of operation and robbed the business of the advantage in the economy of large-scale operation, thus, teaching how to achieve little return on investment.
This in turn leads to stagnation of business that is no growth expansion. The extent to which capital shortage has inferred with industrial growth in the country which might have been exaggerated by previous authors. However, the importance which this government attached to find solution, to tie identified problems and the adequate supply of capital to business organization especially small scale ones for industrial growth and development in Nigeria which will be stressed in this project.
1.3 AIMS AND OBJECTIVES OF THE STUDY
1. To identify and discuss various problems faced by small scale enterprises, which has been and may continue to be the major factors of banks in sensitiveness to finance is the needs of small scale industries.
2. To analyze the government effort aimed at financing the industrial sector in this economy between 1985 and what year.
3. To see whether government through monetary policy rules encouraging and directing banks to finance this smalls scale enterprises through its monetary policy circular and the effectiveness of this policy.
1.4 RESEARCH HYPOTHESIS
Information was collected from both primary and secondary sources. Analysis was based on sources of finance for small scale business and the financial account of financial institution. Questionnaire were drawn from where of which gave an opportunity to major sources and users of funds of small – scale enterprises. And interview was drawn from some of commercial banks for fiancé of the small scale business opinions were sample and these was hypothetical/tested for an inference which was drawn.
For the purpose of this studies the following hypothesis has been formulated; main hypothesis, this states, that small scale business was finance by financial institution or its was financed by the personal savings, individual sponsor, or borrowed from relatives and retained earnings.
1.6 SIGNIFICANCE OF THE STUDY
Despite the fact that the study enjoys substantial advantages on every small firms, it should be observed that this level of industrialization, economies development and resources supports the suitability of small scale enterpsies for optimum result in most types of activities and have persistently ensure the continues existence and viability of so many business. Many developing countries (Nigeria inclusive) have realized that. It is an illusion to think that importance substitution strategy through large-scale industries will be a quick and rapid industrialization and economic development. The experience of countries like India, Malaysia south Korea/ Thailand etc had shown that promotion and development of small scale enterprises through a relatively slow process of industrialization is a sure strategy for economic growth and development.
1.6 SCOPE AND LIMITATION OF THE STUDY
The Commercial bank like other financial institutions are to provide finance for small-scale business, they are among the banks expected to accelerate the high rate of economic growth.
The study will focus on union bank and small scale enterprises as partners in progress in achieving sustainable rate of economic growth and development. The researcher will also look into some financial account of both small scale enterprises and the financial statement of some financial institution especially union bank. Also the project will be limited to banks and federal government roles in wasting the activities of small scale enterprises. The importance of development and problems facing the small-scale business.
1.7 DEFINITION OF THE TERMS
The definition of terms used in this project under the chapter one are as follows.
FINANCE: Relating to money or management of money; financial transaction/ financial assistance, organiz farmer, should be encouraged with financial incentives. It can also be defined as money used to run a business an activities or a project.
SMALLS SCALE: the central bank of Nigeria defined small scale business as any business with annual turnover ranging from N10,000.00 to N50,000.00. small scale industries are generally low in the number of persons employed the amount of investment and the annual business turnover.
FINANCIAL INSTITUTION: This can be defined as a business organization in which customers borrows money. It can also be defined as the financial market for financial service i.e. commodity that is being traded is fund.
1.8 PLAN AND ORGANIZATION OF THE STUDY
data presentation and analysis, the hypothesis, finally, chapter five is base on summary, conclusion, recommendation and reference
CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of "revenue collection at the local government level problems and prospects" is also available. Order full work to download. Chapter two of "revenue collection at the local government level problems and prospects" consists of the literature review. In this chapter all the related work on "revenue collection at the local government level problems and prospects" was reviewed.
CHAPTER THREE: The complete chapter three of "revenue collection at the local government level problems and prospects" is available. Order full work to download. Chapter three of "revenue collection at the local government level problems and prospects" consists of the methodology. In this chapter all the method used in carrying out this work was discussed.
CHAPTER FOUR: The complete chapter four of "revenue collection at the local government level problems and prospects" is available. Order full work to download. Chapter four of "revenue collection at the local government level problems and prospects" consists of all the test conducted during the work and the result gotten after the whole work
CHAPTER FIVE: The complete chapter five of design and construction of a "revenue collection at the local government level problems and prospects" is available. Order full work to download. Chapter five of "revenue collection at the local government level problems and prospects" consist of conclusion, recommendation and references.
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