COUNTRY REPORT OF FEDERAL REPUBLIC OF NIGERIA

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COUNTRY REPORT OF FEDERAL REPUBLIC OF NIGERIA

• By
• RAIMI, LUKMAN.
• CENTRE FOR ENTREPRENEURSHIP DEVELOPMENT, YABA
  COLLEGE OF TECHNOLOGY, LAGOS, NIGERIA

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HISTORY OF NIGERIA

• Nigeria is a Federation of thirty-six (36) States
  and a Federal Capital Territory, Abuja. Lagos
  remains the commercial centre of Nigeria. It was
  under Colonial rule for years until 1st of
  October, 1960 when it gained independence from
  Britain. Nigeria was the creation of the colonial
  administration. In fact, it is was so-named by
  wife of Lord Lugard, Flora Shaw. The etymology of
  Nigeria is from the amalgam of the words Niger
  and Area. The country has more than 250
  ethno-linguistic groups, but the three dominant
  groups are the Hausas in the North, the Ibos in
  the Southeast and Yorubas in the Southwest. It
  runs a Presidential System of Government.

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NIGERIAS MAP AND COAT OF ARMS
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NIGERIAS FLAG
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MEANING OF COAT OF ARMS/FLAG

• The Coat of Arms of Nigeria has a black shield
  with two white stripes that come together, like
  the letter Y. These represent the two main rivers
  flowing through Nigeria the Benue River and the
  Niger River. The black shield represents
  Nigeria's good earth while the two horses on each
  side represent dignity. The eagle represents
  strength, while the green and white bands on the
  top of the shield represent the rich agricultural
  land of the country. The flowers at the base are
  Nigeria's national flowers. The green stripes in
  our flag represent Nigeria's agriculture industry
  and its lush vegetation. The white stripe
  represents the desire for peace and unity within
  the country

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ECONOMIC PROFILE

• Endowed Land Area 923,800 sq.km.
• Population 149,229,090 (July 2009, CIA World
  Fact book.)
• 1 out of every 2 W.African is a Nigerian 1 in
  every 6 Africans
• GDP (2007) is 124.1b, PCI is 2,400 (2009) or
  886
• GDP Growth Rate (2007) 6.2 7.0 ave
  (2003-2007)
• Manufacturing capacity utilisa-tion (2007)
  53.5
• Inflation (2010) is 11.5 using consumer price
  index
• Exchange Rate (2007) N174/1, N157/1
• External Reserve (2007) 35.1b or 46.54
  billion (2009 )
• Unemployment rate 4.9 (2009)
• Gross external debt 9.689 billion

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ECONOMIC PROFILE

• Religion Islam, Christianity and Traditional
  Religion
• Language English (Official), Igbo, Yoruba and
  Hausa
• Labour force 47.33 million (2009.)
• Labour force by occupation Agriculture 70
  Industry 10 Services 20 (1999.)
• Main Export Crude Oil
• External Exports 45.43 billion (2009.)
• Main export partners United States 42, Brazil
  9.5, India 9, Spain 7.3, France 5.1 (2008)
  Imports 42.1 billion (2009)
• Main import partners China 16.1, Netherlands
  11.3, United States 9.8, United Kingdom 6.2,
  South Korea 6.1, France 5.1, and Germany 4.4
  (2008)
• FDI stock 71.59 billion (31 December 2009)

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MAJOR ECONOMIC ACTIVITIES

1. Oil Gas the largest income earning sector
2. Agriculture, the largest employers of labour
3. Manufacturing Sector
4. Telecommunication, fast growing/large market
5. Construction
6. Mining sector
7. Music and Entertainment rising appreciably
8. Tourism, is a potential less explored but rising
9. Trade (Import and Export) engages most Nigerians

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SECTORALGROWTH
Sector 2008 () 2009 ()
Agriculture 6.3 6.2
Mining and Quarrying -5.9 -1.0
Manufacturing 8.9 8.5
Electricity, Gas Water 4.0 3.6
Construction 13.1 12.9
Wholesale Retail Trade, Restaurants, Hotels 14.0 11.6
Finance, Insurance, Real Estate, etc. 6.8 6.4
Transport and Communications 19.3 20.9
Public Administration and Defense 4.4 4.5
Other Services 10.3 10.0
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CULTURE AND ARTS
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ARGUNGUN FISHING FESTIVAL (NORTH)
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IGBO NEW YAM FESTIVAL (EAST)
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OJUDE OBA FESTIVAL (WEST)
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CULTURE AND ARTS
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HOME VIDEOS AND FILMS
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SPORTS (FOOTBALL)
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GOVERNMENT EFFORTS AT PROMOTING ENTREPRENURSHIP
AND SMEs

• National Directorate of Employment (NDE)
• National Poverty Eradication Programme (NAPEP)
• The Peoples Bank (Defunct)
• Community Banks (Defunct)
• Small and Medium Enterprises Development Agencies
  of Nigeria (SMEDAN)
•  Raw Materials Research and Development Council
• Nigerian Export-Import Bank
• Federal Institute of Industrial Research, Oshodi
• Nigeria Investment Promotion Commission (NIPC)
• Nigerian Export Promotion Council (NEPC)

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POLICIES PROMOTING ENTREPRENURSHIP AND SMEs

• Indigenisation Policy
• Nigerian Enterprise Promotion Decree
• Export Promotion Policy
• Free-Trade Zone policy
• Fist National Development Plan
• Second National Development Plan
• Third National development Plan
• Fourth National Development Plan
• National Economic Empowerment Development
  Strategy
• Vocational Education Policy
• Entrepreneurship Education across Tertiary
  Institutions
• Micro-Finance Bank Policy Framework

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PRIVATE SECTOR INTERVENTION AT PROMOTING SMEs IN
NIGERIA

• Nigerian Association of Small Scale
  Industrialists (NASSI)
• National Association Of Small And Medium
  Enterprises (NASME)
• Nigerian Association of Chambers Of Commerce,
  Industry, Mines and Agriculture (NACCIMA)
• Manufacturers Association of Nigeria (MAN)
• Micro-Finance Banks (MFB)
• Cooperative Thrift and Credit Societies
• Trade Associations
• NGOs/Better life, FSP et cetera

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REGULATORY AND WATCHDOG AGENCIES FOR CONTROL OF
SMEs/INDUSTRY

1. Federal Environmental Protection Agency (FEPA)
2. National Agency for Food and Drug Administration
   and Control (NAFDAC)
3. Standards Organisation of Nigeria (SON) ISO
4. Corporate Affairs Commission (CAC) -
   Incorporation
5. Central Bank of Nigeria (CBN) MFI, MFB et
6. Securities and Exchange Commission (SEC)
7. National Insurance Commission (NICOM)
8. Economic and Financial Crimes Commission (EFCC)
9. National Drug Law Enforcement Agency (NDLEA)

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FAILURES OF GOVERNMENT AND PRIVATE SECTORS
EFFOERTS

• Some of these efforts were frustrated by lack of
  managerial wherewithal, lack of supervision,
  mischannelling of credit facilities, duplication
  of roles, mediocrity, nepotism, bureaucratic
  delays in policy implementation, frequent changes
  in government polices/programmes, bribery and
  corruption (Olaitan 2001 Adeyemi, 2008).

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BALANCING GOVERNMENT PRIVATE SECTOR INTERESTS

• Yaba College of Technology came in like other
  tertiary institutions in Nigeria to balance
  government interests with those of the private
  sector through practical enterprise development
  education for all Diploma students.

Government Interests
Private sector Interests
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VISION

• Our Vision is to be the leading Polytechnic in
  Nigeria by providing first-rate academic,
  professional and entrepreneurial education to our
  students who are empowered to make a positive
  impact on the technological and socio-economic
  development of the country.

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MISSION

• Yaba College of Technology is for the training
  of Knowledgeable and Self-reliant Graduates,
  worthy in character and learning through
  effective teaching, innovative learning and
  research for better living.

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BRIEF ON YABATECHS CAPACITY

• Yaba College of Technology is the first tertiary
  institution in Nigeria. It was established in
  1947. It currently runs over 60 National and
  Higher National Diploma programmes under seven
  schools and 40 departments. The college caters
  for over 16,000 students and has over 1,500
  staff. The Federal Government of Nigeria has
  accorded it a university status recently, the
  process of its conversion is being finalised by
  the National Universities Commission (NUC)
•  

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PHYLOSPHY OF ENTREPRENEURSHIP DEVELOPMENT

• In a bid to geometrically multiply the population
  of entrepreneurs in the society and set a pace as
  Africa's leading institution in terms of out-turn
  of students fully prepared and equipped to be
  job-creators, the College innovated
  Entrepreneurship Development Programme (EDP) .
• EDP is administered by the College as a
  compulsory subject at distinct stages of academic
  studies and thus has proven to be a unifying
  factor of students in the campus. We are sent
  here on the bill of the Centre to the tune of
  12,000 to learn about Indian experiences.

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CURRICULUM OF EDP

• EDP curriculum contains
• Mentoring/Coaching/Re-orientation/Psychology
• Training on idea generation and its processes
• Reports and Proposal Writing for start-up
• Market Survey for start-up/Post start-up survey
• Case Study of entrepreneurs and nations
• Manufacturing of products by students (40)
• Packaging and advertisement and Book-keeping
• Bi-annial Exhibitions and Fairs, Industrial tours
• Direct market/relationships management

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SERVICES OF EDP

• EDP services include
• Consultancy services to Industries R D
• Business Review/Feasibility Studies/Marketing
• Entrepreneurship Training/Development of
  workforce
• Facilitation of Exchange Programme (EDI, Songhai,
  PAU, UI, Oxford Brookes, British Council)
• Staff Skill Acquisition Programme
• Basic Trainings for artisans and drop-outs
• Project Supervision
• Production and Direct Marketing of Bread, Sachet
  water, paint, textile, bricks, architectural
  model etc

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SELF RELIANT GRADUATES
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SELF RELIANT GRADUATES
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SELF RELIANT GRADUATES
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COLLEGS ICONS AND HERITAGE
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AERIAL VIEW OF YABATECH
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END NOTE

• Martin Luther King said Through our scientific
  genius we have made this world a neighbourhood
  now through our moral and spiritual development,
  we must make of it a brotherhood. . Despite all
  odds, Nigerians remain Good People, Great
  Nation

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Thank you.Questions?