Description
Abstract
This project work is on the growth of indigenous firms in Nigeria, problems and prospects. The indigenous firm is essential elements in providing a solid base for a country’s economic development. Unfortunately, these indigenous firms using Ajaokuta steel Plc, Kogi state as a case study, have been facing a lot of problems from government policies and funding facilities available to them. The researcher, therefore, defines indigenous enterprises, after which he presents a very clear understanding of their role in national development, services for both governments and intermediate uses. And also utilize low capital cost for creating jobs especially in fast growing services sectors of the economy. The research bases its analysis on the result from the questionnaires on national survey of indigenous firms conducted by the researcher. It also highlights the contributions of Ajaokuta steel Plc, Kogi state to the Nigerian economy. For example, the industry employs about 50 percent of the labour force in Nigeria. They are also intensive users of basic raw materials, above all, they are training ground for local enterprises. The researcher also concluded with some useful recommendations amongst which are: review of credit delivery system by government provision of basic infrastructures and the strengthening of national association of indigenous industrialists. Finally, it is hoped that if the recommendations are fully considered other performance would improve.
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