MANAGEMENT OF PUBLIC FUNDS IN INDUSTRIES ( A CASE STUDY OF LIFE BREWERIES LIMITED ABA)
ABSTRACT
For some time now, many developing third world countries especially Nigeria has been suering a wide variety of problems raging from economic political, social, cultural, religious and a host of other problem to mention but a few. Nigerian government in attempt to solve these problems, have been investing some of the public at her disposal in industries to enhance quick economic growth of the country. As a result of the current economic recession, many industries have liquidated and gone out of production while some others are yet making it. This research is aimed at finding out the problem of these industries that have survived and the steps being taken by the public fund manager to remain in the market. Life Breweries Ltd. Onitsha viz-a-viz other industries in the public sector was discovered to be having problems like other of finance, raw material, spare parts,
foreign exchange and also mismanagement of available funds by the financial managers of the company have been taking lots of steps to see to their existence in the productive sector applying their financial management skills effectively and efficiently.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In the past financial management was concerned with the raising of funds whenever the need arises and much attention was not paid to the uses of the funds so raised. But in recent times there had been a change. The emphasis shied from financing to the managerial financial problem from only raising of funds to eicient
and effective use of funds. As a result of this widening in scope of financial managers and others entrusted with the management have equally increased. It is no longer the issue of providing funds but it’s provision in good time for the right length of time and it’s correct use or application. In light of this, it is necessary to investigate how
these financial mangers are achieving this having known that public funds are often times misconceived by some people as no body. Funds and as a result should not be cared for.The researchers choice of the industry for this study is mainly because of this believe that life bear posses the major feature, of any typical industry financed with the public funds in Nigeria.
These features include the acquisition of funds from investors over time it’s investment, the expectation of returns by the firms on investment over time and the periodical distribution of these return to the investors (share holders) in the form of dividend. In view of these special feature, the researcher believes that it is a good representation of the public establishment in Nigeria and as such suits the purpose of this study. A case study of Nigeria Life Breweries Aba, Abia State will therefore provide a birds eye views of the industries financial by the public fund in the country Nigeria.
