EVALUATING THE GROWTH CHALLENGES OF INDIGENOUS COMPANIES IN NIGERIA
ABSTRACT
This research was embarked upon to gain institute into growth of indigenous firms in Nigeria. This is specifically an attempt to investigate the impact of indigenous firms among others. The objective are not only to acquaint equitable growth for indigenous firm and also to cheek the challenges and prospects and to equally highlight its relevance among indigenous firms review of relaxed literature and theoretical framework also is arranged in logical sequence for the purposed of this study secondary sources, this data was analyzed using simple percentage and chi square. The researcher also found out that the growth of indigenous firms also affects the scope-economic growth of our economy. It is clear to note that indigenous firms have created impact on the country economy through export promotion financial institution and industrialization development strategies.
Finally, the summary of findings conclusion and recommendation where not left out, they are expected to serve as a basis for further researchers.
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
One of the major economic backwardness of the most third world countries like Nigeria is the over prolonged sojourn of private foreign divestment in them. The predatory exploitative orientation and activities of foreign monopoly capital, it inherent tendency to resist and hamper local industrialization and to perpetuate merchant capitalism and its determination and deliberate efforts to retard the growth of endogamous entrepreneurship all this have heavily influenced Nigeria economic history for well over a century.
This foreign dominance of commercial activities in Nigeria was made possible by restrictive practices employed by the established merchant firms. It is important to note that commercial banking is a major source of credit (capital) was solely owned and controlled by foreign elements. Their policies were made towards satisfying the needs of foreign enterprise, indigenous entrepreneurs merely subjected on the crumbs that fell on the gable.
(Ezeigwe .J. O) Nigerian government in the 1950s operated mainly an open door policy which attempted to live foreign investors into the country.
