Contribution of commercial banks in nigeria

These attractions lead city to grow at a rate that become difficult to manage. Essentially, undue presence is exerted on the existing public utilities while services are extended legally and illegally to the unplanned new areas. So, it seems that the more utility services are provided, the more they are demanded. As a result, the utility services become inadequate and thus increasing the cost of doing business which in turn mitigate against all efforts to reduce the widening poverty gap.

Contribution of commercial banks in nigeria

No elephant is burdened by the weight of its tusks. The current economic problem in our nation is often lamented and cursed as unendurable, as if it is peculiar to the nation alone.

Similarly, the fiscal measures introduced by the government are looked upon as hindrances or impediments, which a few may consider as irrelevant and unnecessary impositions. Yet, to look back at our growing up problems as if they are burdens, which we must cast off immediately, or Contribution of commercial banks in nigeria away from, is to be superficial and incapable of understanding ourselves, an offshoot of our character.

The Nigerian economy, whether advancing or otherwise, is the weight that we must bear in our growth towards maturity, and in coming into full being as adults and as a nation. A mother does not complain of the weight of the child she carries on her back. The child is part of the process — the route towards her self-fulfillment.

The indicators to buttress this fact are untold and can be gleaned from our advancement in different sectors including but not limited to the economic development in agriculture, manufacturing, transportation, foreign trade and investment, urbanization, communication and information technology and of course oil and gas.

This paper seeks to unearth the progression of economic development of Nigeria from to The emancipation of the Nigerian economy from the regions of Nigeria Nigeria has always played a major economic role in the world.

Being referred to as the largest black nation, The Nigerian economy is one of the most developed economies in Africa. Administratively, Nigeria remained divided into the northern and southern provinces and Lagos Colony.

The people of the South, with more interaction with the British and other Europeans due to the coastal economy, adopted Western education and developed a modern economy more rapidly than in the north. For instance, northern Nigeria did not outlaw slavery until They were food self-sufficient and produced a variety of commodities that were exported overseas.

During the 19th century, the abolition of the slave trade cleared the way for expansion of trade in agricultural produce from Africa to Europe, particularly palm oil from the West African coastal areas. The coastal enclave of Lagos became a British colony ina center for expansion of British trade, missions, and political influence.

Late 19th century and early 20th century Lagos was also a center for educated West African elites who were to play prominent roles in the development of Pan-Africanism as well as Nigerian nationalism.

In northern Nigeria, Muslim reformer and empire builder Uthman dan Fodio established the Sokoto Caliphate in the early 19th century over the Hausa trading states. A predominantly Fulani aristocracy ruled over the majority of Hausa-speaking commoners, including both merchants and peasants.

Expansion of agriculture, trade, and crafts made this area probably the most prosperous in tropical Africa in the 19th century, engaged in trade both to the coast and through the traditional routes over the desert to North Africa. At the end of the 19th century, Britain began aggressive military expansion in the region, in part to counter competition from other Western countries and to break down monopolies which local traders had established in commodities such as palm-oil, cocoa, and peanuts.

Britain declared a protectorate in the Niger delta in and sponsored creation of the Royal Niger Company in A protectorate was declared over northern Nigeria in Despite the loss of sovereignty, however, the strong political and cultural traditions of these societies initially enabled many to accommodate nominal British rule with little change in their way of life [7] British colonial administrator joined together the nationality groups in into a larger economy for the benefit of British industrial classes.

Under colonial rule, Nigeria remained an agricultural country, exporting raw materials to Britain and importing from it finished goods. Therein lay the argument to the origins of the dependence of Nigerian economy on commodity markets of the industrialized Western world for its foreign exchange.

While the industrialization of the country was discouraged, rudimentary foundations for a modern Nigerian economy, however, were laid. Between andthe major political parties played leading roles in unifying and locally mobilizing the economic elites.

The period of the colonial administration in Nigeria was punctuated by rather ad hoc attention to agricultural development. During the era, considerable emphasis was placed on research and extension services. The first notable activity of the era was the establishment of a botanical research station in Lagos by Sir Claude Mcdonald in This was followed by the acquisition of Ina Department of Agriculture was established in each of the then Southern and Northern Nigeria, but the activities of the Department were virtually suspended between and as a result of the First World War and its aftermath.

Faulkner, who devised a statistical design for experimental trials in green manuring, fertilizer projects, rotational cropping systems and livestock feeding.

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From the late s to the mids, there were significant intensification and expansion of research activities, and extension and training programmes of the Agricultural Departments.

Additional facilities for training of junior staff in agriculture were provided, as well as scholarships for agricultural students in Yaba Higher College and Imperial College of Tropical Agriculture in Trinidad [9].

The intensification of hostilities during the Second World War led to the slowing down of agricultural activities and the call to Departments of Agriculture to play increasing roles in the production of food for the army and civilians in the country and the Empire.

Production of export crops like palm products and rubber which could not be obtained from Malaysia as a result of Japanese war activities in South-East Asia, and such food items as sugar, wheat, milk, eggs, vegetables, Irish potatoes and rice whose importation was prevented by naval blockade of the high seas increased.

A special production section of the Department of Agriculture was set up to deal with the situation. On the research side, attention was devoted largely to the possibilities of evolving permanent systems of agriculture that were capable of replacing rotational bush-fallowing systems prevalent in the country and realizing the promises of mixed farming in the north.

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The period of Internal Self Government from to began with the constitutional developments, which led to independence of the Regional Departments of Agriculture.

The Federal Department of Agricultural Research was retained since constitutional provisions placed agricultural research on the concurrent legislative list, while extension work remained a regional responsibility.

The research findings of the Federal Research Stations were to be transmitted through Regional ministries responsible for agriculture and natural resources.If actually you are looking for money to start up a business, these 10 ways can help you raise money to start up your own business.

Here is the fraudulent message circulating on the Whatsapp groups about Social Exchange market grant for Nigeria. Subject: Response by CBN Governor to FRCN Queries!

Contribution of commercial banks in nigeria

Press Release: Sanusi Lamido Sanusi, con. Governor, Central Bank of Nigeria. response to the allegations in relation to suspension.

I am compelled to make this public statement to address the various allegations levied against the Central Bank of Nigeria (CBN) and cited as the reasons for my suspension from office as the Governor of the CBN. IJAW NATION *** Welcome to United Ijaw on the web We call on Nigeria to stop the military occupation of Ijaw nation.**** United Nations Under Secretary-General, Dr.

Antonio Maria Costa, in Abuja condemned the theft of Nigeria's assets by past corrupt leaders. Anchor Borrowers’ Programme Guidelines Development Finance Department Central Bank of Nigeria (December, ).

Get free Research Paper on A Critical Analysis Of The Contribution Of Commercial Banks To The Economicsproject topics and materials in Nigeria.

This is approved for students in accountancy, business, computer science, economics, engineering, arts. This is a list of commercial banks with Regional Authorization in Nigeria, arranged alphabetically: SunTrust Bank Nigeria Limited; Providus Bank Limited; This is a list of non-interest banks in Nigeria, arranged alphabetically: Jaiz Bank Plc;.

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