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The role of deposit insurance in financial sector stability
No full textIt might be necessary to start explaining the terms involved in the above topic. A Deposit insurance Scheme (DlS) is an arrangement whereby a designated agency (usually government-owned) guarantees deposits in insured financial institutions This paper discusses the guarantee function and financial sector stability, the supervisory function and financial sector stability, the liquidation function and financial sector stability and the other contributions of Nigeria Deposit Insurance Corporation (NDIC). The study concluded that, Financial Sector Stability: lssues and Challenges is not only appropriate but quite timely given the rumours making the rounds about unfounded banking distress
Employment creation and opportunities in the manufacturing sub-sector. The case for the production of corn flakes.
No full textCornflakes production is a promising viable business considering the increasing rate of urbanizing and our penchant for fast foods. Moreover, the demands of children for breakfast cereals especially in preparation for school and even in leisure times made the cornflakes business a promising and worthwhile venture for consideration by any aspiring entrepreneur. This paper examines cornflakes production, machinery and equipment, production process, market potentials, production capacity, financing cornflakes production and necessary approvals. The study concludes that The value added in a gross output of about sixty small textile mills with a gross output of N1.014 Trillion is N0.670 Trillion. This means that the business is Profitable. On the face value, the cost of setting up a textile manufacturing is high. But it had been made clear that it is simpler, cheaper and more profitable to set up a small high quality Yarn spinning industry. This approximates the sedan mentioned earlier on and is more suitable to one aspiring to become an entrepreneur
Real sector policies in the 2004 budget
No full textThe real sector of the economy is composed of such sub-sectors as agriculture, manufacturing, mining (solid minerals), crude oil and gas. Given this composition, it is no gainsaying that the real sector of the Nigerian economy constitutes the main driving force of the country, such that no sustainable development can be achieved without a well-developed and viable real sector. This paper examines the Nigerian real sector. It looks at the features which constitute some threats to the success of policies on the real sector. It makes a review of the real sector policies in the 2004 budget and It focusses on the prospects of the real sector in 2004
Deregulation of the oil and gas industry in Nigeria
No full textThis paper examine various developmental reforms in Nigeria Oil and Gas sector. The case study adopted is the survey method approach to ascertain various reforms in the sector. The findings revealed factors such as ( a) Petroleum Products scarcity ; (b) Funding problems for NNPC leading to irregular maintenance of refining and distribution facilities ; ( c) Refining capacity under-utilization ; ( d) Smuggling of Petroleum products; ( e) Divestment by marketers; (f) Wastages; (g) Adulteration of products and fire hazards; (h) Social and political unrest; (i) Poor economic growth; and (j) Rampant pipeline ruptures and vandalization. And, in tackling this continued factors, the author therefore suggests the following: Develop a natural gas policy document; Finalize the draft downstream gas legislation; Update and legislate a new fiscal regime for Gas projects; increase domestic energy availability; release more premium fuel for export; diversify government\u27s export base for foreign exchange earnings; Elimination of natural gas flares by 2008; - Facilitating development of domestic power sector through increased use of natural gas; - Leveling the playing field between oil producers and other parties involved in the domestic gas business to encourage investment in gas
Keynote address: seminar on current economic reforms in Nigeria: the case of deregulating the downstream petroleum subsector
No full textThis is the Keynote address by Ernest C. Ebi, Deputy Governor Central Bank of Nigeria, Abuja, Central Bank of Nigeria, at the In-house seminar on “current economic reforms in Nigeria: the case of deregulating the downstream petroleum subsector’’ for CBN Executive Staff, Ilorin, October 25-29, 2004
Pricing of petroleum products in Nigeria and the issue of price subsidy
No full textThis article re-examines the policy on petroleum products pricing, especially against the background \u27Of government\u27s decision in October 2003 that crude oil for domestic consumption be paid for at the prevailing international price, in order to suggest a way forward. The issue of subsidy is also discussed in that context. The rest of the paper is organized as follows: Section II contains literature review on petroleum products pricing and subsidy. Petroleum products pricing and subsidy management in Nigeria is found in section III. Section IV contains suggested way forward in products pricing in Nigeria as well as concluding thoughts
The social Implications of the Deregulation of the Downstream Petroleum Sub-Sector
No full textThis article examines the social implications of the deregulation of the downstream petroleum sub-sector in Nigeria. The deregulation of the downstream petroleum sector is part of the economic reform package of the present administration that is designed to among diversify the economic base of the country and reduce the relative dominance of the oil sector, and to create a vibrant sector that can respond to the rigors of market forces (NEEDS Document,). The article covers topics that include: an examination of the the downstream sub-sector and the rationale for deregulating the downstream sub-sector. This is that optimal allocation of resources can only take place when prices of resources are allowed to be determined by the market forces in a competitive environment. Other issues examined includes the removal of oil subsidy. this is followed by the examination of the social implications deregulation which include: increased government revenue; poverty and social inequity; competition; price determination by market forces; and social ills (vandalization of pipeline, smuggling, black-marketeering, corruption among government officials in the sector, adulteration of products, artificial scarcity). The article concludes by stressing that deregulation of the downstream sector will: ultimately impact positively on the social lives of Nigerians; ensure that good quality fuel is available when we need it and at competitive prices; availability of products will put an end to adulteration and the black market Contrary to what most people believe, deregulation will not impoverish Nigerians because it will reduce rather than increase prices; create more jobs and give means of livelihood to thousands of Nigerians
Causes of bank distress and resolution options
No full textA meaningful analysis of causes of bank distress and the options for resolution would probably need to be preceded by a brief discussion of the role of banks in an economy. This paper examines the meaning of bank distress, it presents a detailed discussion of the main causes of bank distress as they relate to Nigeria in particular, it provides a review of the literature on resolution options as well as an enumeration of resolution options adopted to address bank distress in Nigeria. lt\u27s has been observed in the paper that while the general causes of bank distress appear to be uniform the contribution of each factor varies from country to country. Accordingly, it becomes imperative that resolution options to be applied should be dictated by the nature of the problem and the peculiarities of the affected banking system. ln the main, the way forward in achieving a stable banking system is for all parties concerned to contribute to a favourable banking environment. ln that regard, the operators should adhere strictly to the rules of the game, the regulatory authorities should enhance the supervisory capacity while the government should put in place enabling legal, macro-economic and political frameworks
Employment creation and opportunities in the manufacturing sub-sector. The case for neem tree in Nigeria.
No full textThis paper is focused on neem oil production for both local and export markets. It examines Neem, (Azadirachta indica A Juss), an evergreen tree that belongs to the family, Meliaceae and is known by the botanical name Azadirachta indica A Juss. lt is a fast growing tree, well adapted to semi-arid conditions and grows well on poor shallow stony or sandy soils where agricultural crops give low yields despite the application of fertilisers. The paper examines the origin of the neem tree, composition, uses, products, investment potentials and financial analysis on profile for neem seeds processing. The study conclude that from the financial result of the above analysis, the project is economically viable and technically feasible. Neem Seeds as Raw Materials is in abundance and can be sourced at lower cost than estimated since no established outfit is currently utilizing it in the country. Market is available and the processing technology is simple as seed oil extraction is not a new technology in the country
Keynote address at the policy seminar on the 2004 Federal Government Budget.
No full textThis is a Keynote address delivered at the Policy Seminar on the 2004 Federal Government Budget, jointly organized by the Central Bank of Nigeria (CBN), the National Centre for Economic Management and Administration (NCEMA) and the Nigerian Economic Society (NES). The seminar is the ninth in the series of the inter-agency collaborative effort, aimed at providing a forum for major stake-holders in the economy to critically analyse and evaluate the adequacy, or otherwise of the current fiscal and monetary policy measures, in achieving the central objectives of the Federal Government