INSTITUTIONAL FINANCING OF SMALL SCALE INDUSTRIES IN KOGI STATE

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INSTITUTIONAL FINANCING OF SMALL SCALE INDUSTRIES IN KOGI STATE

 

ABSTRACT

The issue of Institutional Financing of Small Scale Industries have received great attention in recent times in realisation of the fact that availability of finance is very essential for the growth and development of small scale industries. However, small scale industries have some common problems in all countries and perhaps the most basic problem in the lack of adequate capital and credit facilities for sustaining their growth and development. In view of this chronic problem of financing small scale industries, this research project was undertaken with a view to find out whether the financial arrangement available in Kogi State in particular and Nigeria in general, were adequate, and to pinpoint their short-comings and suggest remedial measures so that finance does not hinder the growth of this vital sector of the economy. The development and growth of small industries sector is very vital to any economy, whether developed or developing. Small scale industries contribute immensely to any economy in terms of employment of income and wealth, import substitution, encouragement to traditional craftsmanship, preservation of cultural heritage and development of entrepreneurship. This study reveals that the S.S.l.C. scheme have not provided adequate financial assistance to small scale industries in Kogi State. Only 121 enjoy a total amount of N2.18 million only and the number of applications granted is very insignificant compared viii to the number of applications received. Our findings also reveals that the N.B.C.I. has approved only N2.2 million for fourty six small scale projects since its establishment in 1982, and because it is new in Kogi State, many small scale industrialists are not aware of its existence or have no knowledge of the type of services it renders. We also found that the commercial banks have played an insignificant role in the financing of small scale industries in Kogi State. These findings reveals that the financial institutions have not been able to meet the financial requirements of the small scale industries. In view of this conclusion, we suggest that some specialized financial institutions should be established to cater for the needs of the small and medium scale industries in Kogi State.

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

INSTITUTIONAL FINANCING OF SMALL SCALE INDUSTRIES IN KOGI STATE

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