THE IMPACT OF DISASTER MANAGEMENT project

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CHAPTER ONE

INTRODUCTION

1.1     Background to the study

There are evidence to suggest that in many countries there has been an increase in the rise of natural disasters occurring – natural hazard rise – due to environmental degradation (World Bank 2002). Natural disasters are complex and multifaceted events resulting from mismanaged and unmanaged risks that reflect current condition and historical factors (Alexander 2000).

 

Disaster risk is collective in its origin and remain a ‘public,’ shared risk that makes finding individual, and often community solutions, difficult (comfort 1999). A disaster is said to take place precisely because the losses originated by a given event overwhelm the capacity of a population (local, regional or national) to respond and recover from it. Disaster rise emerges from the interaction between a natural hazard – the external risk factor – and vulnerability – the internal risk factor (Cardona 2001).

 

International consciousness rising about integrated disaster risk management (of which disaster risk mitigation is a part) was given a boost by the recently concluded United Nations International Decade for Natural Disaster Reduction.

 

Similarly, The Nigerian Disaster Management Act (Act 57 of 2002) heralds a new era as far as the way in which disaster risk, hazards and vulnerability will be perceived in Nigerian in the future. As one of the finest pieces of legislation ever promulgated in Nigerian, the right into the backyard of each and every state and local municipality, as well as all the organs of the state and entities in the public sector.

 

It calls for the establishment of structures, frameworks, plans, procedures, and strategies that cut across all government sectors. It introduces a new way of managing the complex and perilous society in which we find ourselves. It further gives the responsibility of managing disaster risks to the highest political authority in each sphere of government.

 

The cornerstone of successful and effective disaster risk management is the integration and coordination of the entire role – players and their activities into a holistic system aimed at disaster risk reduction.

 

Disaster risk reduction in Nigerian consists of a variety of crosscutting facts requiring the participation of a host of sectors and disciplines, not only from within the spheres of government (Federal State and Local), but involving the private sector, civil society, Non-Governmental Organization (NGOs), Community-Based Organizations (CBOs), Research Institutions, and Institution of higher Learning, to name but a few. In the context of disaster risk management, none of these role-players can act in isolation from the other.

 

Disaster Risk Management in Nigeria has been established as a public sector function within each sphere of government. But disaster risk management goes beyond pure line function responsibility. Disaster Management Act (Act 57 of 2002) as an integrated, multi-sectoral, multi-disciplinary approach aimed at reducing the risks associated with hazards and vulnerability. It therefore needs to become an integral part of the development planning.

 

Process in order to be successful. For this reason disaster risk management plans form an integral part of the Integrated Development Plan of each of this state. In the light of this the budgeting process within the state government sphere in Nigeria, aiming at sustainable development within state government, the direct like with disaster risk management is undeniable of strategic importance. Development planning should therefore be assessed according to its contribution towards either risk reduction or disaster risk augmentation.

 

Unfortunately, the current policy and legislation do not provide adequate guidance to state government in terms of funding arrangements for disaster reduction, response and recovery. Various funds and funding mechanisms are available; this leads to a consideration amount of confusion. The need to consolidate all disaster reduction and response-related funding into one funding pool is well known and has been already discussed within the disaster management fraternity.

 

Although this would be the ideal situation, it is not realistic to assume that an all-inclusive fund would be in any way possible given the public financial infrastructure of Nigeria. It is against this background that this research is triggered and search light is put to northern Nigeria sequent to the current security challenges and flood that have brought untold hardship to people in the North.

 

1.2     Statement of problem

The act establishing the National Emergency Management Agency of Nigeria makes specific provision for the funding of post-disaster recovery and rehabilitation as well as requiring that a disaster management plan should be prepared for a specific state and should form an integral part of the state’s

 

 

 

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THE IMPACT OF CONTRIBUTORY PENSION SCHEME ON THE NIGERIAN PUBLIC .

 

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ABSTRACT
The problems associated with the 1979 Pension Act necessitated its abolishment and on 25th June 2004 and a new pension reform Act was enacted. The unique feature of this new Act is that it provides for contribution for the employees and the employers, each making 7.5% contribution to the scheme, except for the military.

Voluntary saving was also introduced where self employed workers can make their contribution. A commission was set to register pension administrators and fund custodians and to ensure their supervision. The purpose of this research is to evaluate the effects of the reform Act on the public. In this evaluation, the researcher uses both primary and secondary data for purposes of collecting data.

The finding of the research revealed that most of the employees have little or no knowledge of the provision of the Act. Voluntary saving that will help many Nigerians are not made or encouraged.

However, most employees that are into the scheme believed that they are satisfied with the operation of the pension administrators thus, the researcher recommended that government should increase its contribution to its employees.

It is also recommended that copies of the Act should be made available to the public and employees to ensure that workers have good knowledge of the Act.

 

 

 

CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Prior to the enactment of the Pension Reform Act (2004), Pension Schemes in Nigeria had been bedeviled by many problems. The public service operated and unfounded defined benefits scheme and the payment of retirement benefits were budgeted annually. The annual budgetary allocation for pensions was often one of the most vulnerable items in budget implementation in the light of resources constraints. In many cases, even where budgetary provisions were made, inadequate and untimely release of founds resulted in delays and accumulation of arrears of payment of pension right. It was obvious therefore that the defined benefits scheme could not be sustained (Pension, 2007).
In the private sector on the other hand, many employees were not covered by the pension schemes put in place by their employers and many of these schemes were not founded. Besides, where the schemes were funded, the management of the pension funds were full of malpractices between the fund managers and the trustees of the pension funds (Pencom, 2007).

 

This scenario necessitated a re-think of pension administration in Nigeria. Accordingly, the pension was initiated in order to address and eliminate the problems associated with pension schemes in the country. The out come of the reform was the enactment into law of the Pension Reform Act. 2004. (Pen com, 2007).

The pension reform programme is governed by the key principles of sustainability, safety and security of benefits, transparency, accountability, equality, flexibility, inclusively, uniformity and
practicability (Pencom, 2007).

The pension Reform Act 2004, established the National Pension Commission (Pencom). As the body to regulate, supervise and ensure the effective administration of pension matters in Nigeria. It licenses, regulates and supervises pension operation of Ppension Fund Administrators (PF A), Pension Fund Custodians (PFCs), Closed Ppension Fund Administrators (CPFAs), existing schemes that are approved to continue by the commission and any other pension related institutions (Economic Confidential, Dec., 2007).

 

This study will give an insight to the new Pension Reform Act 2004, evaluate the effect of the contributory Pension Scheme on the Nigerian Public. The study will also look at the roles of key players in the new pension reform and assesses their contribution towards the development to the pension industry. Lastly, the study will provide an alternative approach to the new pension system in Nigeria.

 

1.2 STATEMENT OF THE PROBLEM
In line with the same policies adopted every where, the Nigerian government has introduced a new pension scheme, which amounts to privatization of pensions. Workers will no longer pay into a State
Pension Fund. Now they will depend on private funds that supposedly will make the money grow by investing it in stocks, shares and other speculative activities. What is worse is that if any of these funds collapse, the government provides no guarantee.

 

The new pension reform seems to be another anti-worker policy of the government, where the future of the workers is now openly tied to the whims and caprices of a series of emergency investors. These so – called Pension Fund Administrators and custodians have been licensed by the government to collect compulsorily a substantial percentage of workers’ salary every month which can be spent or invested in other ventures as the administrators so desire.

The new Pension Reform Act of 2004 is one of the numerous ‘reforms’ pushed through in 2004 to reduce government expenditure on the social welfare of the populace. The philosophy here is to allow the government to shelve a major social responsibility of catering for its workforce after retirement in the form of gratuity and pension payments.

 

Before now, the positions of things in the workplaces were in two forms, depending on which establishment the workers belong, that is, either the private or public sector. The situation in the public sector of the pre ­ existing pension scheme is that a civil servant or worker working for the government will collect a certain amount of money worked out as gratuity depending on the number of years put into service. The gratuity is expected to be paid immediately the worker stops working. Pensions are also paid immediately on a monthly basis if the worker is of the “pensionable” age.

 

The situation in the private sector is different to what is obtained in the public sector. Here, what the worker collects at the end of his/her working life with the company is of a contributory format. The worker contributes a pre-defined percentage of the monthly basic salary to the pension fund and the employer also contributes as related percentage of the worker’s basic salary to the pension fund.

 

The worker will then collect the total contribution at the end of the work life with the company. The Act now makes it mandatory for all workers to pay 7.5% of their salary to the pension funds, the employer is also expected to contribute another 7.5% equivalent of the worker’s basic salary to the monthly contribution.
The reality is that for the workers in the private sector, it immediately translates into the workers getting less pay than what they are getting previously. The previous contribution used to be 4% but now it has almost doubled to 7.5%. in the salary of the workers.

 

Whereas, the new situation is almost anti-worker in the public sector. Here the employer, which is government at all levels, is being relieved of a major social responsibility of caring for its workers after retirement. Now the government workers must cough up 7.5% of their salary every month as a contribution to the pension fund.

 

To the workers in the public sector, the new situation as per pension contribution is a double blow. This is because, lifelong pension and gratuity is the only thing each worker probably still looks to as a mild compensation for the very poor salary package they are presently receiving as wages. To now say that they have to contribute for their pension, which will also not last till they die, from their present meager salary is most uncaring and callous.

 

Another fact is that the present contributory pension scheme is not guaranteed by the government. In the final analysis, it is not different from any other savings in the bank.

 

In order word, if the pension fund administrator and pension fund custodians should collapse, the pension fund under their care also collapse. That is the real situation and this is why the government is saying that if this should happen, it is the workers liability because it is the worker’s free will to choose his/her own Pension Fund Administrator (PF A).

 

This study will explain the operation of the new reform and also urge the public to be extra careful with the operation of the new reform. The study will also proffer an alterative approach to the reform should the current reform failed.

 

 

 

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IMPACT OF MOTIVATIONAL INCENTIVES ON EMPLOYEES PERFORMANCE IN NIGERIA BREWERY

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CHAPTER ONE

INTRODUCTION

1.1   BACK GROUND OF THE STUDY

It is known fact that the principal motive of management of any organization is to make individual and people contribute positively towards the activities which it consist. So as to achieve the mission and goal of the enterprise employee motivated.

 

Hermman motivates are based on need such as the physiological requirement for water food sleep and shelter other need may be regarded as secondary such as self esteem status. Affiliation with others compliment and self assertion or satisfaction (Daniel, 1982).

 

A motives as well as directs motivate their subordinated is to say why they do those thing, which they hope will satisfy, these drives and desire as to induce in the subordinate so as to act in a desired manner if the motivation of employee is to be more productive and for it to produce at a high level of quality often required what a variety of an incentive be used in varying proportion as can best be esteemed by managerial personnel. Because of the differences in need patterns and their ever changing natures, the incentives that may be best for one group or an individual may not be effective for another of a particular time.

 

The use of motivational tool does not only involves the monetary aspect but also comprise non financial incentive such as transportation facilities accommodation facilities welfare services etc one need to explain the non-financial incentives aspiration the typical employer.

 

It is usually the responsibility of the supervision to ensure that the employees feels that the up (the organization) came about their views and suggestion on work emplacement, income simplification and such other routine matter (Ibekwun 1984).

 

It is describe that job should be varied or given to employee accomplished which boost their age and gives them a feeling of pride and sense of achievement more also job security can serve as an incentive which includes some individuals to remain with an organization so as to reach animal satisfactory level of performance.

 

Hence motivation tend to be cost to their employee while it is a benefit or major source of income to employees. No organization can hopefully succeed without the effort of the employees performance with focus on Nigeria Breweries Plc as case study.

 

• STATEMENT OF THE PROBLEM

In the past years there has been a steady increase in most Nigerian industries, the crisis is as a result of a poor working condition, strigent rules, poor and delayed payment of workers wages and salaries.

 

 

 

 

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Impact of Insurance Service on Business Survival in Niger Insurance Plc Kaduna

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CHAPTER ONE

INTRODUCTION

• Background of the Study

The research is to be conducted on “The impact of insurance service on business survival in Niger Insurance Plc Kaduna. Insurance is meanly concerned with provision of financial security or protection of industries, institution and individuals against their economic losses, since they have content with the risk and uncertainties associated with business properties and life.

 

Therefore, Insurance creates awareness for the society since they are faced with a lot of risk such as accident, job termination, fire-outbreak, thief, flood, death. Insurance exists in order to ensure the survival of the business, there by fastening economic development and growth all over the world. Insurance is actively wolves in the protection of investment by providing cover against risk which may disrupt project and encourage individuals and organization to harvest good result. The Insurance insuring Public (Individual’s corporate organization and Government) in the economic transfer risks associated with the lives and economic transfer risks associated with the lives and economic activities to ensure companies, they are providing a means of protecting and conserving the wealth of the Nation.

 

 

• Statement of the Problem

Insurance exists in order to ensure the survival of the business, but in these modern days, the rate of unawareness about insurance policies in Nigeria is very low, compared to the developed Nation. The Nigerians are under insured because Insurance companies do not fully appreciate the importance of Insurance marketing in the Security Sector and these are due to adequate training of personnel within and outside the organization that will convince the General Public. Another poor situation of the industry is the insufficient advertisement placement to ensure public enlightenment of Insurance policies. Some Staff never exhibits their ability and technical know-how, because of lack of motivation especially in the Marketing department. Also these above mention are also what Niger Insurance plc faces.

 

 

 

 

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IMPACT OF INFORMATION AND COMMUNICATION ON OPERATION OF NIGERIAN STOCK EXCHANGE

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CHAPTER ONE

INTRODUCTION

• Background of the Study

The effect of information and communication technology (ICT) on the operation of stock markets has been a subject of debate in recent times. A school of thought led by authors like Shiller (1989),Summers (1988), Porteba and Summers (1988) would argue that stock markets have become excessively volatile since the adoption of computer assisted trading strategies as the latter increase short-term price volatility and risks.

 

They also argue that very few investors have access to online trading systems. Few actually own computers and have easy access to the Central Securities Clearing System. Many investor, they claimed, do not have access to a system that sends orders to stockbrokers for automated execution.

 

They also contend that ICT driven stock market operations are fraught with fraud and manipulation, which mostly affect individual investors. A case in point relates to the sale of shares without authorization of the stockholders, a practice that is given impetus by greed and dishonesty of some market participants.

 

They further argued that surveillance problems and the lack of proper enforcement of penalties by the legal system make the adoption of a fast-paced ICT system dangerous to investors.

The second school of thought, which includes authors Fama and French (1988), on the other hand, argued that information technology have made stock markets more efficient as attendant stock prices now reflect important information and investors perception of stocks more swiftly.

 

In their contention, ICT has made the capital market more efficient by providing all participants with faster and more effective means of exchanging information. They maintained that new products and instruments have been made readily available as a result of the advent of sophisticated ICT. Evidently, stock markets can be more resilient, possess greater depth and breadth with the intervention of ICT.

 

It must be observed that the premises of the above theorizing are capital markets in developed countries. Would their arguments hold true for the less Developed Countries (LDC)? Which school of thought would appropriately explain the experiences of the LDCs? Perhaps the critical questions that need to be addressed would include: Has the adoption of information technology had a positive or negative impact on the operation of Nigerian stock exchange? Has ICT transformed the way business is conducted on the Exchange? Has ICT benefited the Nigeria investor? The plethora of research questions can go on and on.

 

However, this paper seeks to ascertain how the adoption of information technology has impacted on stock market operation indicators and the way business is conducted on the Nigerian Stock Exchange. A possible area of future research would relate to the benefits of ICT adoption by the stock market to the Nigeria (individual) investor, which is not covered in previous studies.

 

 

1.2       Statement of Problem

Information and Communication technology has made a tremendous impact on the Nigerian Stock Exchange in recent time. This has increased investors confidence due to the speed and accuracy at which information is disseminated to stakeholders.

But inspite of this laudable impact of ICT in the operation of Nigeria Stock Exchange, individual in Nigeria do not still have access to stock market trading online other than by going through the brokerage station, as against global trend where investors in other part of the world browse the internet and go for stock market information available on the webpage in order to have an instant informed decision about investment i.e., either to buy or sell the share of a particular firm.

These gap dramatically nudged up the overall volume and volatility of stock market in recent time. As such doubt is expressed to a large extent about the extent of usage of information and communication technology in the Nigerian Stock Exchange with particular reference to automated trading system (ATS).

It is against this background that the subject matter of this research is seen as an empirical problem

 

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