DEVELOPMENT BANKING IN NIGERIA

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ABSTRACT
This study focuses on finding out the extent to which development banking has aided in development of the Nigeria Economy through financing and granting of medium and long term loans for capital projects and other related services like providing technical services to their bank customers who engage in promotional activities to stimulate interest on new projects.
The study adopted a his historical method of investigation because of the absence of the questionnaire and the nature of the research only historical research was designed since staff and management of development banking carry out the same functions and the same business activities. The staff and management of development banking constitute the population interest of 40 from this population, a formular sampling method was use to arrive at a sample of B6 specifically, the objectives of the study are to among others.
To find out the role played by development banking in the development of Agriculture, commerce an industrial sectors.
To highlight the impact of development banking in the Nigeria in the Nigerian Economy.
To examine the extent of mobilization of funds to finance capital projects.
To examine the sources of funds to the development banking in Nigeria
To determine whether there is any difference in functions of banks that make up development banking.
To accomplish these objectives data were collected historically, which involved the sourcing of data from primary and secondary from the past and present records and functions from the staff of different kinds of development banking in Nigeria, published materials and textbooks.
The findings of the research work was based on the data on the literature in chapter two.
Against this, background, both short and long term measures were adopted and recommended in chapter five, and if implemented will go a long way in boosting the development of development banking in this country to carry out their business activities efficiently and effectively.
TABLE OF CONTENTS

CHAPTER ONE
1.0 Introduction
1.1 background of the study
1.2 Statement of problem
1.3 Objectives of the study
1.4 Research questions
1.5 Significance of the study
1.6 Scope and limitation of study
1.7 Definition of terms

CHAPTER TWO
2.0 Review of related literature
2.1 The Nigerian industrial development bank (NIDB)
2.1.1 The Nigerian industrial development bank NIDB sources of fund
2.1.2 Functions of Nigerian industrial development bank
2.1.3 The re-construction of the Nigeria industrial development bank limited.
2.2 Mandate of bank of industry (BOI)
2.2.1 The objectives of bank of industry (BOI)
2.2.2 Sources of funds for bank of industry
2.3 Project selection criteria of bank of industry (BOI)
2.4 The Nigeria bank for commerce and industry (NCBI)
2.4.1 Functions of bank for commerce and industry (NCBI)
2.5 The Nigerian agriculture and co-operative bank (NACB)
2.6 Nigerian agricultural co-operative and rural development bank limited (NACPDB)
2.7 Main obligations of Nigerian agricultura, co-operative and rural development bank (NACRDB)
2.7.1 Ownership and sources of fund for NACRDB
2.7.2 Functions of Nigerian agricultural co-operative and rural development bank (NACRDB)
2.7.3 Nigerian agricultural, co-operative and rural development bank (NACRDB) special project loans
2.7.4 ECOWAS fund accelerated fish production project
2.7.5 International found for agricultural development project (IFAD)
2.7.6 Livestock development project (LDP)
2.7.7 Annual traction and hand tools technology programme
2.7.8 Types of loans granted by and rural development bank (NACRDB)
2.8 Role of development banking serves to economy
2.9 Defenses in mandate between bank of industry and Nigerian agricultural co-operative and rural development bank (NACRDB)
References
CHAPTER THREE
RESEARCH DISGN AND METHODOLOGY
3.0 Introduction
3.1 Research design
3.2 Sources of data collection
3.2.1 Secondary data sources
3.2.2 Primary data sources
3.3 Location of data
3.4 Population of the study
3.5 Sample size determination

CHAPTER FOUR
4.1 Findings

CHAPTER FIVE
5.1 Summary and conclusion
5.2 Recommendations
Bibliography
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Development banking in Nigeria was established, as a result of strong needs to close the gap created by the inability of the operating banks in Nigeria such as commercial banks, central bank and merchant banks to provide the needed funds to finance some special sectors of the economy such sectors which must be financed mainly with long-term and sometimes with medium term funds, need finance from specialized banks such as development banks. These banks were established for the purpose of providing medium and long term loans for capital projects in Agriculture commerce, industry and other essential projects that are necessary for economic development of the country, such loans are usually provided from the banks internally resources. For projects that require huge capital resources than it can provided alone, development bank usually mobilizes other financial institutions to raise the required loan for the establishment that requires it.
Apart from providing medium and long term loans for capital projects in specific areas as already mentioned, development banks render ancillary services like proving technical advice on new and existing projects to their customers, engaging in promotional activities to stimulate interests among their customers on new prefects which the banks consider necessary and profitable.
The commercial banks in operation provided short term funds which was as a result of the nature of funds available to them. Occasionally the provided medium term funds and long-term basis. Development banks perform this function by providing long-term loans for capital projects in specific areas. In Nigeria, we have the Nigerian industrial development bank (NIDB), the Nigerian bank for commerce and industry (NBCI) and the Nigerian Agricultural co-operative bank (NACB) now known as Nigerian Agricultural, co-operative and rural development bank limited (NACRD). These banks are owned by the federal government.
Following the reconstruction of the Nigeria industrial development bank limited, NIDB in 2001, which incorporated the mandate of the Nigerian bank of commerce and industry (NBCI), the (NBCI) apperar to have lost its identify. Today you may not discuss the NBCI without seeing it as a part of NIDB.
Nevertheless, since NBCI, is still in existence having not be swallowed by the NIDB,
The NBCI was established through decree 22 of 5th may 1973 by the federal government of Nigeria. The bank which is believe to be a child of circumstance because it came up after the Nigeria civil was when the indigestion decree was set up. It started its operation on 4th October, 1974.
The bank’s authorized capital at inception was N50 million N35 million of this fully paid up and subscribed by the federal government with 60% and the central bank of Nigeria, which had the remaining 40.
The bank when established was meant to assist the implementation of the indigensation decree of 1972
By the decree No22 of 2nd April 1973, the bank was to provide equity capitates and funds by way of loans to indigenous persons, institutions and organizations for medium and long term investments in industry and commerce at such rates and upon board in accordance with the policy directed by the federal executive council
This decree empowered the bank to borrow monies from any source it can, to enable it meet its obligations and discharge functions.
1.2 STATEMENT OF PROBLEM
Following the increase economic activities in Nigeria, commercial banks which have been established to provide their customers with short term loans can no longer meet up with duties of providing medium. At this point in time the monetary authority and the federal government saw the need to create a bank that will cater for the need of people living in rural and urban areas and those who want to invest on capital projects.
The aim of establishing this bank was to grant medium and long term loans to Nigeria investors. The aim or

EFFECTS OF BANK DISTRESS ON THE SAVING
HABITS OF THE RURAL DWELLERS

 

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Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

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form>DELIVERY PERIOD FOR BANK PAYMENT IS  LESS THAN 24 HOURS

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CHAPTER ONE
1.0 Introduction
1.1 Background of study
1.2 Statement of Problem
1.3 Purpose /Objective of Study
1.4 Significance of Study
1.5 Limitation of Study
CHAPTER TWO
2.0 Review of related literature
CHAPTER THREE
3.0 Research design and Methodology
3.1 Sources of data (Secondary data only)
3.2 Location of data
3.3 Methods of data collection (literature work only)
CHAPTER FOUR
4.0 Findings
CHAPTER FIVE
5.1 Recommendations and conclusions
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF STUDY
A bank can be defined as an organization whose principal operation are concerned with the accumulation f temporarily idle money of the general public for the purpose of advancing it to others for expenditures
John Paget defined a bank as “A corporation or person defined a bank as “A corporation or person(s) who accepts money on current account, pays cheques on such account on demand and collects cheque for customers”.
Oxford Advanced Learners Dictionary defines a bank as organization or a place that provides a financial service or a place where something a financial service or a place where something is stored ready for use.
The establishment of modern banking Nigeria dates back to the colonial era when the African Banking Corporation was formed in 1892 to distribute currency notes of Bank of England for the British Treasury subsequent developments were encouraged by colonial trade in the bid to address the credit needs of indigenous entrepreneurs, Nigerian later ventured into the banking business, initially through private initiatives and later through deliberate government policy.
The problem of distress in the financial sector, including the outright bank failure, has been observed in Nigeria as far back as 1930 when the first bank failure was reported indeed, between 1930 and 1958 when the Central Bank of Nigeria(CBN) was established, over 21 bank failure were recorded. However, the degree of intensity and scope of the distress has never been as serious as it has been observed since June, 1989 when the government directive to withdraw deposits of government and other public sector institutions from bank to the CBN exposed the weak financial condition of most financial institutions and severity of problem has progressively increased.
The distress condition has been traced to a wide range of causes, some of which are listed on literature review. Eventually, when distress came into the scene, fears of loosing funds to the banks influence negatively, the banking habit of the rural dwellers.

1.2 STATEMENT OF PROBLEMS
With the wave of distress spreading in the finance companies,. Community Banks and primary mortgage institutions, a total of 24 banks were distressed in 1993, as against 10 in 1992, 31 finance houses were classified distressed while 118 were in default of mature obligations, 456 complaints against 136 finance companies for non resumption of matured funds, however, however, total assets and liabilities of 395 finance firms stood at #2.44 billion reported for the proceeding year (1992).
The situation was attributed to the followings:
1. Prevailing economic recession,

BUDGET AND BUDGETARY CONTROL AS A MEANS OF ACHIEVING ORGANIZATIONAL OBJECTIVES

(A CASE STUDY OF RANCCOR FOOD AND PACKAGING NIGERIA LTD).

PROPOSAL

A budget is a quantitative plan of action prepared in advance for the period to which it relates while control encompasses all the methods and procedure which directs employees towards achieving the organizational objectives.

This work is carried out to know how budgeting process is required to achieve different purposes within an organization. In addition to aiding, planning, coordinating and communicating activities of an organization, budget provides a financial blue print that enables a firm coordinate all its activities.

For effective understanding, this research work is presented in five chapters.

Chapter one dealt with the background of the prevailing circumstance s that led to the introduction of budget and its control in an organization.

From this, other chapters derived their based in order to confirm the findings, recommendations and conclusion.

It is worthy to mention here that budget and budgetary control has been a welcome and rewarding development in achieving an organizational aims.

CHAPTER ONE

 

• INTRODUCTION

A budget is designed to express forecast of revenue and expenditures for the ensuring fiscal year, which may correspond to the calendar year with exemption of primitive economics. The budget is the key instrument for the expression and execution of policies, principles, procedures, plans and objectives of management in quantitative and monetary values. Management of an enterprises is efficient if, it is able to accomplish the objectives of the enterprise and it is effective when it accomplishes the objectives with minimum effort.

After planning and setting of designed goals which in essence means making a project in the form of predetermined statement of managerial policy during a given period that provides a standard for comparison with actual results to achieve an organizational objective. There is need to monitor the progress of the company towards these goals. In controlling, managers measure their firm’s performance against established objectives, determine the cause of deviation and take corrective action where necessary. Without budgets, controlling would lack a plan against which to measure performance and as such the companies organizational objectives would not be attained.

Horngren and foster (1999), defined a budget as “a quantitative expression of a plan of action and an aid to co-ordination and implementation”. Also, Warren and fess (1998) defined budgeting as “formal written statement of management plans for the future expressed in financial terms.

Almost everyone uses some form of budgeting to handle personal finances, whether it be a written plan for how much to spend on rent, food, clothing, entertainment, travel etc. In order to control this expenditure, they normally set limits on how much they will spend on each item. As they incur the actual expenditure, they make comparison with the budgeted estimate. Both the public and private enterprises use the budget and budgetary control system. The private enterprise, which are profit oriented are aimed among others at maximum profit achievable which forms the core objectives of the financial aim of the enterprises.

An organization must plan in order to decide what line of action to pursue in a future time period and effective ways of bringing it about. Planning is vital to the success of an organization because when formulated, it leads to making critical appraisal of existing condition and gives the business a sense of direction. Thus, we can say that a plan which is prepared to show how resource will be acquired and used over a period of time is known as budgeting. Its use to control activities is known a budgetary control. A budget draws the course of future action; thus it aids management in fulfilling its planning function. Managers set different goals for their business but a common goal for almost every business are a planned profit. To ensure that its goals is attained, a firm must set limits on what is to be spend and what is to be considered acceptable operating performances. The limits are set forth in a master budget ad compared with the actual result as the year progresses. Without budget such find that its cost have exceeded acceptable level. This brings about the budgetary control system.

The budgetary control system is a system where the act plans or goals to achieve an organization objective is monitored and actions are taken to improve performance or reverse goals which becomes unrealistic. According to Hussey, R (2000) the budgetary control system “is the setting of plans (or budget) which lay down policies for which managers are responsible”. Howard and Brown (1998) sees budgetary control as a “system of controlling cost which includes the preparation of budgets, coordinating the department and establishing responsibilities, comparing actual performance with budgeted and acting upon result to achieve maximum profitability”.

The process of budgetary entails the following:

1. Determining the company’s objective
2. Preparing preliminary forecasts
3. Considering alternative plans and selecting the optimum
4. Preparing and examining the functional budget
5. Summarizing budget into master budget
6. Comparing actual results with budget.
7. Calculating the variance and analysis the resources for their occurrence.
8. Taking corrective action to remedy the situation.

The budgeting process serves several purposes firstly; it provides a financial blue print that enables a firm to coordinate all its activities. Using budgets, manager can project outcome and adjust strategies where they are needed before operations begins, thus avoiding costly errors.

Also, the budgeting process forces the managers to re-examine past performances, which may enable them to discover and correct inefficient outmoded method and operations.

In addition, budget enables manager to implement the planning and control functions some organization see the preparation formal budget as time consuming and expensive but, the cost of not budgeting may be far greater and many ultimately lead to the company’s failure. As a guard against total failures in and organization, adequate planning to reduce uncertainty about the future must be the watch wood. The planning process of an enterprise would involve four fundamental procedures:

• Establishing the objectives
• Determining the short-range objective
• Developing strategies
• Formulating profit plan or budget.

Using a budget and budgetary control system for frequent comparison between planned and actual performance, a firm is able to isolate deviations from the budget soon after their occurrence and take appropriate corrective action.

This study is therefore intended to examine the efficiency of budgeting as a means of achieving the financial objective of an organization.

 

1.1     STATEMENT OF PROBLEMS

The essence of budget and budgetary control is comparison of performance against plan or target. The implementation of plan without well designed budget and budgetary control system is a waste of time. In other to achieve and ensure efficiency there is need to plan and maintain effective and efficient budgeting control system. Such planning and control needs to be coordinated as a result of scarcity of resource and the need to achieve profitability. The following problems will therefore to critically examine in the study.

• To find out whether there is any relationship between the estimated figure and the actual.
• To find out whether budgeting can help in achieving the organizational objectives
• To find out whether budgeting can help in effective planning and control of the financial activities of an organization.
• To find out whether budgeting can help in effective communication and performance evaluation.
• To find out whether budgeting can guide against resources wastage and how it helps it reduce cost and measure profit earnings.
• And finally, to find out if there are any problems associated with budgeting in the company or organization i.e. the limiting factor of the company’s budget.
  • OBJECTIVES OF THE STUDY

For management to achieve the firm’s objectives or organizational goals, it is charged with responsibility of planning, controlling and coordinating activities. Other objectives of the organization may include:

• The profitability of the organization
• The welfare of management and employees.
• Reduction of risk
• Growth and social responsibility

Therefore, the research will enable us to focus attention on the following areas.

• To review the system of budgeting operating in an organization.
• Show that budgeting helps to regulate inflow and outflow of the organization fund.
• Examine the effectiveness of its budgeting system
• Identify budget variance reports as an important guide to profit forecast
• Identify the procedure for formulating, preparing and evaluating budget.
• Verify that budget and budgetary control acts as device for measuring performance and acts as means of control and motivating employees.
• To reveal any weaknesses in budget and budgetary control.
• To draw conclusions and make more useful recommendation on how the system can be improved upon.
  • RESEARCH QUESTIONS

The following questions formulated in the course of this work.
(a) Is there a positive relationship between budgeted estimates and the actual?

(b) Has budgeting help in effective planning and control of the financial activities of an organization?

(c) Will budget help in effective communication and performance evaluation?

(d) Finally, does budgeting assist an organization in achieving financial objective?

1.4     STATEMENT OF HYPOTHESIS

The following hypothesis formulated will be tested in the course of this research.

Ho:    represents the null hypothesis, that is the hypothesis which stands and is accepted as true.

Hi:     represents the alternate hypothesis, that is, the hypothesis is not true and acceptable.

(a) Ho – That there is a positive relationship between budgeted estimates and the actual

Hi: – That there is no positive relationship between budgeted estimates and the actual.

(b) Ho – That budgeting helps in effective planning and control of the financial activities in an organization.

Hi – Budgeting does not help in effective planning and control of the financial activities in an organization.

(c) Ho – Budgeting helps in effective communication and performance evaluation

Hi – That budgeting does not help in effective and performance evaluation.

(d) Ho – That budgeting assist an organization in achieving financial objective

Hi – Budgeting does not assist and organization in achieving financial objectives

1.5     SCOPE AND STUDY

          This research is limited to Ranccor food and packaging Nig. Ltd. This study is essentially intended to access the system of budget and budgetary control as a tool in achieving organization objectives. In the course of this research, the researcher intends to look at the efficiency of budgeting that can improve the economic, social performance and profit in an organization

The study will focus its attention on fixed and flexible budgets, incremental budget, zero based budgets. Production and administrative budget, sale budget as well as the master budget; The period for 2000-2004. Consequently, the scope encompasses the following

1. A review of budget and budgetary control system.
2. The nature of the master budget.
3. Types of budget system
4. To examine the variance between budget and actual result obtained and attempt to identify the cause of the variance.

• SIGNIFICANCE OF STUDY\

This research will help us to ascertain how budget and budgetary control can assist management in achieving the financial objective of a company. It will enable the organization to know whether existing budgetary control system is in line with laid down rules and procedures. It will help management in assessing their performance in profit, planning and control. This study will help management plan and set attainable measurable organizational goals and put into motion machinery that will make sure these goals are attained. The organization will see at a glance resources that will be acquired and assessed over a period of time. It will also help to measure improvement in the future.

The general public will benefit from this research work because they will now be able to assess the performance of management and the profitability of the firm. Staff will also benefit from budget because they will know what goals the firm has set and strive towards achieving such goals.

This research will lay emphasis on the importance of budget and budgetary control and planning in Ranccor food and packaging Nig. Ltd. and thus will assist future researchers in this area. It will highlight way of maximizing profit through efficient use of budget. The result from this work will enable the management and board of directors to know the problems associated with budgeting and to proffer solution to it.

Finally, the research will cause

 

This research will lay  emphasis  on the importance of budgeting, and budgetary control and planning in Ranccor food and packaging Nig. Ltd and thus will assist future researchers in this area. It will highlight way of maximizing profit through efficient use of budget. The result from this work will enable the management and board of directors to know the problems associated with budgeting an to proffer solution to it.

Finally, the research will cause achievable objective to be introduced in the profit and economic plan.

1.7 LIMITATION OF STUDY

The research work is certainly not without flaws due to the fact that one cannot claim to be an embodiment of knowledge in this field therefore perfection cannot be guaranteed.

The first and foremost important factor militating against the research is the problem of combining the research with other academic work. Besides, the tike the researcher had to complete the study was very short.

Another factor that hampered this research work was finance. Funds were not adequate to our chase some material, to cover traveling expenses. As a result of this, the researcher could not study a large number of the department.

The attitude of the respondent was another problem encountered by the researcher. And because to be sensitive nature of this study, management, staff and personnel were reluctant to give adequate information regarding their departmental budget.

DEFINITION OF TERMS

BUDGET:- A plan quantified in monetary terms prepared and approved prior to a define period of time, usually showing planned income to be generated and / or expenditure to be incurred during the period and the capital to be employed to attain a given objective.

BUDGETARY CONTROL:- The establishment of budget relating the responsibility of executives to the requirement of a policy, and the continuous comparison of actual with budgeted result either to secure by individual actions the objective of that policy or to provide a basic for its revision.

PLANNING:- Is the design of a desired future state of an entity and of the effective way of bringing it about.

OBJECTIVE:- The existence of procedure for mobilizing and coordinating the effort of various usually specialized sub groups in the pursuit of joint objective

REFERENCES

Orjih .J. (2001),                       Financial Management;  Enugu                                                                  Splashmedia organization

 

Welsch et al (2002),                 Budgeting profit, planning and control                                             (5^th Ed.) New Delhi, prentice hall of                                                  India.

Lecture notes on Budgeting in Public and private sector.

 

The Nigerian Accountant Journal, April / June: Volum 3, No 2, PP 28-36.

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

Foreign Transaction For Dollars Payment :
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ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

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BUDGERTING AS A TOOL FOR PLANNING AND CONTROL IN A MANUFACTURING INDUSTRY (A CASE STUDY OF NIGERIAN BREWERIES PLC ENUGU)

ABTRACT

This reseach work was focused on investigation on the use of budgeting as a tool for planning and control in topical manufacturing industry like Nigerian breweries plc, Enugu.

The objective of the study is to show the important of budgeting as a tool for planning and control in operation of a manufacture industry which has profit maximization as its principal objective. The research also aims at identifying the procedures adopted in the formulation of annual budgets of Nigerian Breweries plc.

Based on this, the following hypothesis was formulated for the study. The hypothesis include:

• Managers use budgeting as a tool for planning and control in attaining the goals of the business.
• Decision-making is performed in a manufacturing industry using budgeting.
• Utilization of resource is achieved with the use of budgeting and budgetary control

Following the investigation and analysasion of the data, the following finding were made:

• The organization uses budgeting in achieving their goals and objectives.
• The main objective of the organization is maximization of profit.
• Efficiency and effectiveness of the organizations operation is enhanced through the use of budgeting etc.

From the finding, the conclusion were arrived that budgeting is a very essential and indispensable tool for planning and control. It helps management to be   well structure in sustaining the growth and expansion of the organization

CHAPTER ONE INTRODUCTION:

• Statement of the problem
• Purpose Of The Study
• Research question
• Statement of hypothesis
• Scope and limitation of the study
• Significance of the study
• Definition

CHAPTER TWO: REVIEW OF RELATED LITERATION

2.1 Definition of budget

2.2 Features and functions of budget

2.3 Preparation of budget

2.4 Type and methods of budget

2.5 problems associated with budget

2.6 planning function in an organization

2.7controlling function in an organization

2.8 Budgetary control and analysis of variance

CHAPTER THREE: RESEACH METHODOLOGY

3.1 research design

3.2 Source of data

3.3 sampling and sample size

3.4 method of data analysis

3.5 problem of data collection.

CHAPTER FOUR: PRESENTATION, ANALYSIS AND INTERPRESENTATION OF DATA

4.1 Analysis of data

4.2 Hypothesis testing

CAHPTER FIVE: SUMMARY OF FINDINGS, CONCLUSING AND RECOMMENDATION.

5.1 Summary of findings

5.2 Conclusion

5.3 Recommendation

BIBLIOGRAPHY:

APPENDIX: QUESTIONAIRES

 

 

CHAPTER ONE

 

INTRODUCTION

Business organizations need planning to achieve their aims and objective. It thorough planning in an organization cannot be done without involving the act of budgeting. The management has the purpose of providing a feed – foreword process.

The concept of feed-forward =process in to provide each manager with guideline for making operation decision on a day –to- day basic. Budgeting deals with plans and monitoring activities to ascertain whether they conform to the plans. This is the control and coordination aspect of budgeting.

Manufacturing industries can only achieve profit maximization by proper planned use of available resource. This is sustained when different activities are efficiently coordinated, and decisions taken in the organization are result oriented. Business organization requires the use of some techniques in the formula and adoption of planned and defined system and tools with a view to achiever set goals. Such tools and systems include budgetary variance analysis and budgetary control. The process of setting goals to be achieve in the future time and determining how these goals are to be reached is described as PLANING, while the process of translating this planning into financial target can be described as BUDGETING.

Reg, H. Garrison, in his opinion, defined budget, thus, a budget is a detailed plan showing how resources will be require and used over some specify time interval. It repented a plan for the future expressed in a formal qualitative terms. The act of preperating a budget is called budgeting. The use of budget to control a firms activities is known as budgeting control ‘’.

This project is organized in five chapters, which aimed at finding out the budget process used achieving the goals of a typical. Manufacturing, industry with profit maximization as its main objective with center focuses in Nigerian breweries plc Enugu.

Chapter one is an introduction to the study concerning such issues as:

• Statement of problem
• Purpose of the study
• Statement of hypothesis
• Reseach question
• Scope and limitation of the study
• Significant of the study
• Definition of terms

Chapter two present the literature review, which such issues as:

• Definition of budget
• Feature and function of budget
• Preparation of budget
• Types and methods of budget
• Problems associated with budget
• Planning function in an organization
• Controlled function in an origination
• Budget control and analysis of variance.

Chapter three presents the reseach design methodology.

The source of data collected for analysis, and treatment of some of the problems encountered during data collected were examined and analysis in detail to enable us draw conclusion there by making recommendation.

Chapter five contains the summary of the resaech, recommendation and conclution.

STATEMENT OF THE PROBLEM

The management has his primary duty of achieving the objective of profit maximization of the company through budgeting .due to the state of our economy, and government policies, this goal is much hindered during the period of economic depression which features low capacity utilization, high interest rate shortage of foreign exchange to buy the needed, raw material. Management is filed with the problem of how to make use of available scarce resources your order to achieve the objective of profile maximization.   This reseach work is intended to help in dertermingand highlighting the problems that militate against the application and utilization of budgeting as a tool for planning and control in a manufacturing industry The research work will provide solution of the following problems.

(1) Inability of the manufacting company objectives                                      (2) Insufficient appraisal of the company performance base on budgeting.

(3) Inability of officers in the cost centers to conform to guild line and attain the standard set in the organization. This is applicable to all workers

(4) Inadequate monitory of compliance with and deviation from department and entire budgets.

• PURPOSE OF THE STUDY

The purpose of this study includes the following: –

• To show the importance of in getting as a tool for planning and controlling in the operation s of a manufacturing industry which has the maximization of profit ads its principal objectives
• To identify the procedures adopted in the formulation and implementation of animal budget in Nigerian Breweries plc Enugu
• To determine whether there is a correlation between the type of budget implemented and their actually performance.
• The study will determine whether or not budgeting control as a management tool contributes to the improvement of managerial efficiency and high productivity.
  • Reseach Question
• How does managers use budgeting in planning and control in author the goals of a business?
• How does decision making performed in a manufacturing industry using budgeting as a tool for planning and control?
• How has utilization of resources achieved with the use of budgeting and budgetary control?
  • STATEMENT OF HYPOTHESIS

The following are the basic for reseach in this study:

HI: Managers are using budgeting in planning and controlling the the business resources

HO: mangers are not using budging in planning and controlling the business resource.

HI: budgeting is a tool for effective decision making in manufacturing industry.

HI: utilizations of resource is achieved with the use of budgeting and budgetary control

HO: utilization of resource is not achieved e with the use of budgeting and budgetary control.

1.5 SCOPES    AND LIMITATION   OF THE STUDY

The study of budgeting as a tool for planning and control in a manufacturing industry has its scope limited to Nigerian Breweries  (NBL) PLC   Enugu due to various constraints.

Among the major constraints is the fear of job security by some staff of the company might be unsafe if they grant interviews.

Again funds available to the researcher and cost of printing the questionnaire to and from the respondents.

Moreover there was retaining of time so as to come other course within the limited time.

• SINGFICANCE OF THE STUDY

In the business world the main objective is to maximize profit by providing goods and services of fair, comparative, and affordable prices no management can ignore profit maximization unless it will be stifled out of business.

Hence, this study is significant with the following reason:

• The study will determine whether budgeting as tool for planning and control played any significant role toward ensuring portability and efficient rendering of goods and services.
• Ascertain the role-play by the management in budgeting and whether they ensure to the budget.
• Ascertain the role of budget as a tool for effective and efficient utilization of scare resources.
• The study will help future researcher on budgeting and budgetary control with emphasis on manufacturing industry.
• DEFINITION OF TERMS
  • A BUDGET:

The institution of cost and management accountants define budget as a plan quantified in monetary terms, prepared and approved prior to a define period usually showing planning income to be generated and or expenditure to be incurred during that period and the capital to be employed to attain that objective.

• BUDGETARY CONTROL:

This is the different between planned (budgeted) and actual result (cost). This may be favorable where actual cost is less than a standard (budget) cost. If it unfavorable where actual cost is greater than standard (budgeted) cost. Alternative terms are MINUS OR PLUS variances, respectively.

ORGANISATION:

This is all establishments whether government or privately owned.

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THE NATURE AND CONSEQUENCES OF JUVENILE DELINQUENCY IN NIGERIA: A STUDY OF ENUGU NORTH LGA, ENUGU STATE

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ABSTRACT

 

CHAPTER ONE

1.1   INTRODUCTION

The business world can be extremely competitive, companies typically want to have something that makes them stand out from the crowd, something that make them more appealing and interesting to both members of the public and the media. A favourable image can help increase a company’s sales and negative publicity can damage a company’s reputation and decrease sales. Public relation (PR) can give consumer and the media a better understanding of how a company works. Within a company, a public relation department might also be called a public information department or a customer relations department assist customer if they have any problem with the company. They usually try to show the company at its best.

 

Public relation department also might conduct research to learn how satisfied customers are with the company and its products. There are many tools and methods that a public relations department can use to enhance a company’s image. The tools that have been traditionally used include news releases and announcement that are sent to the media, news letters that are sent to customers and appearances at public events, such as trade shows or conventions. With the proliferation of the internet, PR department can now use tools such as blogs and social media net works to accomplish their goals. Many people have the perception of public relation (PR) as a way to “sprier” news and information, which means to portray the news or information in the best possible way for the company. If a company announces layoffs, its public relation department might claim that the company is lowering its costs and making itself more efficient, so it will be better able to serve its customers at lower prices. As long as those things are true, then the public relation department is doing its job of protecting its reputation and image. Stretching the truths are exposed. There include a high level of communication skills, both written and verbal. A public relation person (PR) also must be adapt at multitasking and time management. He or she might have some form of media background or training to understand how the media works. Organizational and planning skills also are important in public relative. A public relation employee must be able to work well under pressure.

Finally, in most large companies, public relation is specialties in itself guided by specific disclose regulations.

 

1.2   Statement of the Problem

Public relation can be difficult, but it can also be fun. There’s nothing more rewarding than knowing that the people you reach are walking away with valuable information whether they choose to take immediate action or not. A favourable image can help increase a company’s sales, and negative publicity can damage a company’s reputation and decrease sales. The question then is, how far has public relations been able to achieve the set objective over the years