Category: BUSINESS ADMINISTRATION & MANAGEMENT

Introduction

The redesign of a country’s currency can have far-reaching effects on various sectors of the economy, including small and medium enterprises (SMEs). This discussion aims to explore the effects and challenges faced by SMEs in Maiduguri University and Tasha Bama Market following the redesign of the Naira. By analyzing these case studies, we can gain insights into the broader implications of currency redesign on the operations, profitability, and adaptability of SMEs.

One of the significant effects of currency redesign on SMEs is increased transaction costs. When a currency undergoes a redesign, new banknotes or coins are introduced, leading to additional costs for businesses. SMEs, which often rely on cash transactions, may need to recalibrate cash registers or update payment systems to accept the new currency denominations. This can be financially burdensome, especially for small businesses with limited resources (Jones, 2018).

Furthermore, the redesigned currency requires SMEs to adapt to new features, security measures, and denominations. This adaptation process may involve additional training and education on counterfeit detection and authentication. SMEs need to invest time and resources in educating their staff, which can disrupt business operations in the short term (Cetorelli et al., 2020).

Cash flow management is another area where SMEs face challenges following a currency redesign. As new notes and coins enter circulation, business owners must carefully manage their cash holdings to ensure a smooth transition. This can involve exchanging old currency for new, which poses logistical challenges, particularly in regions with limited banking infrastructure like Maiduguri and Tasha Bama Market

Moreover, the redesign of the Naira can impact consumer behavior and spending patterns. Initially, consumers may be hesitant to accept or use the new currency, leading to a temporary decline in sales for SMEs. Changes in denominations and aesthetics can also affect perceptions of value and may require small businesses to reconsider their pricing strategies (Siba & Olatunji, 2021).

One of the primary challenges faced by SMEs in the context of currency redesign is a lack of awareness. Many SMEs in Maiduguri University and Tasha Bama Market may not have access to sufficient information about the redesigned Naira. Government efforts to educate and raise awareness about the currency redesign need to reach all businesses, especially those operating in remote areas. Limited access to information can result in confusion, mistrust, and difficulties in adapting to the new currency (Adamu, 2020).

Counterfeit risks pose another significant challenge for SMEs during a currency redesign. While currency redesign often incorporates enhanced security features, the transition period may witness an increased risk of counterfeit currency circulation. SMEs, especially those with limited expertise and resources, may struggle to differentiate between genuine and counterfeit notes. Counterfeit currency can adversely affect business operations and erode trust among customers (Cukierman & Yuen, 2019).

Additionally, the redesign of the Naira may pose challenges to financial inclusion efforts. SMEs operating in informal sectors or remote areas may face difficulties in accessing banking services or exchanging their old currency for the new one. Lack of awareness, documentation, or banking infrastructure can hinder SMEs’ ability to adapt to the redesigned currency, exacerbating financial inclusion challenges (Adewole et al., 2017).

 

The redesign of the Naira has both positive and negative effects on SMEs in Maiduguri University and Tasha Bama Market. While increased transaction costs, adaptation and training, cash flow management, and changes in consumer behavior pose challenges to SMEs, a lack of awareness, counterfeit risks, financial inclusion challenges, and economic instability further complicate the transition process. To mitigate these challenges, government efforts should prioritize inclusive education, support SMEs in adapting to the new currency, and ensure smooth cash exchange processes. A well-executed currency redesign can facilitate the growth and resilience of SMEs in Nigeria’s economy.

References:

• Adamu, A. M. (2020). Understanding the Need for Financial Inclusion in Nigeria. Journal of Financial Crime, 27(2), 427-437.
• Adewole, O. A., Atanda, A. A., & Alimi, O. Y. (2017). Economic Impact of Financial Inclusion in Nigeria. CBN Journal of Applied Statistics, 8(2), 115-136.
• Cetorelli, N., Mandel, B., Pradhan, M., & Urua, E. I. (2020). Effects of Government Intervention on Small Business Credit: Evidence from the Great Recession. Journal of Financial Intermediation, 41, 1-19.
• Cukierman, A., & Yuen, C. W. (2019). Counterfeiting and Inflation. European Journal of Political Economy, 57, 178-190.
• Jones, R. J. (2018). Costs and Benefits of Inflation in Nigeria. South African Journal of Economics, 86(4), 450-467.
• Siba, E., & Olatunji, O. (2021). Consumer Behaviour Towards the Adoption of E-Money Services in Nigeria. International Journal of Electronic Commerce Studies, 12(2), 33-52.
• Tambunan, T. (2019). Factors Affecting the Growth of Small and Medium Enterprises (SMEs) in Developing Countries: A Review and Synthesis. Journal of Enterprising Communities: People and Places in the Global Economy, 13(2), 324-344.

Plant maintenance deals with all aspects of managing the equipment and tools used in a factory. The task of production management known as maintenance deals with the ongoing difficulties of keeping the physical plant in good working order. Plant maintenance refers to the steps taken by a plant’s user to maintain the facilities and systems in place or to return them to their operational state. In order to increase production efficiency, improve quality, and increase productivity, it comes down to taking the form of extensive machine lubrication, fault detection, quick fixes, and replacement of spare parts as needed. When manufacturing facilities and machinery are maintained, high-quality items are produced more quickly and with better plant performance overall.

By increasing production speed and efficiency, maintenance resources may be used to their fullest potential to save expenses while also controlling the plant’s overall operating budget and its total labor costs. The effects of plant upkeep cannot be overemphasized in terms of how they will affect output quality. Companies now place a greater emphasis on producing high-quality goods and services. Total Quality Management is the practice of managing for long-term success via customer happiness by assessing and improving the quality of manufactured goods. Production efficiency, which is the capacity to produce at a cheap cost and provides the firm with a definite competitive advantage, is emphasized by TQM. It is true that most businesses maintain their facilities to produce high-quality goods efficiently, reduce costs, and increase sales, but this is not always the case. Instead, most businesses fail to employ the proper maintenance techniques, incurring costs through production-related machine breakdowns that cause significant loss.

Practice and Procedure [embeddoc url=”http://projectstore.com.ng/wp-content/uploads/2023/02/THE-PRACTICE-AND-PROCEDURE-FOR-COMPANY-LIQUIDATION-IN-NIGERIA-UNDER-THE-COMPANIES-AND-ALLIED-MATTERS-ACT-1990-1.pdf” download=”all” text=”DOWNLOAD PDF FILE”]

 

CHAPTER ONE/INTRODUCTION

Due to a lack of new naira notes, small-scale businesses that rely on daily cash transactions were unable to access their finances. This resulted in a decrease in customer support as potential customers were unable to access their monies from their banks.

Owners of companies that deal with perishable products like meat and tomatoes experienced losses. Pressure is placed on breadwinners due to the small window of time for Nigerians to exchange their old notes for new ones and the lack of both the old and new notes. Financial institutions and their personnel were vulnerable to assaults by irate consumers as a result of the people’s displeasure.

For instance, angry demonstrators demolished a Wema bank branch in Ibadan on Friday, February 3, 2023, as a result of a shortage of naira notes and petrol. Several POS operators were forced to shut their businesses due to a shortage of old and newly redesigned naira notes. Those that opened offered outrageous prices.

Kidnapping and banditry incidents already exist, therefore adding to the pressure on Nigerians to withdraw their hard-earned money from their bank accounts via a chaotic circumstance that might spark nationwide demonstrations similar to the ENDSars. The situation with the new naira notes in Nigeria has shown that the leadership of that country’s central bank was primarily concerned with the advantages of the cashless policy, oblivious to the severe economic pain it would cause Citizens.

It also demonstrates the possibility that the president was misled by the CBN, which consistently said there were enough new notes to replace the old ones.

 

 

CHAPTER ONE/INTRODUCTION

Trade unions have enormous social, economic, and political roles and are a crucial social institution. After many hard conflicts, it received approval from employers, the government, and society. Using many tactics, including direct action, political, and legal approaches, it has created a set of rights for the working class. It is a crucial feature of a democratic system and functions according to democratic ideals including union elections, leadership responsibility to members, public engagement in decision-making, and involvement in decision-making processes. It serves as a political pressure organization. It builds social interaction processes, forms a sense of group identity, and strives to protect it. It is beneficial to businesses because it regulates dissatisfaction, aids in contract execution, and lowers transaction costs for employers by performing aggregation and transmission (of preferences) services. Under the state-led industrialization system, unions and other collective organizations played a vital role in society and politics. Under official sponsorship, unions developed and supported the state’s attempts to develop. All social players profited from the implicit social compact.

Associations were forbidden in the early 18th century; employers were compelled to forbid these groups, and between 1720 and 1799, 30 laws outlawing associations were issued by the government. The first labor relations legislation, known as the “Master and Servant Law,” was approved; nevertheless, these regulations, which are often seen as prejudiced towards the employer, call for employees to be devoted to and submissive to their employers. in the UK.

Without addressing the Tolpuddle martyr’s narrative, it would be unjust for us to discuss the history of British labor unions. Six Tolpuddle employees from Dorset founded the Agricultural Workers Friendship Organization in 1834. Swearing between them was prohibited at the time. detained and sent back to Australia.

People grew more conscious of labor unions’ legal standing in society between 1880 and the First World War. Trade union activities were thus no longer prohibited with the enactment of the Trade Law in 1906. The 1906 Act was “compiled” by Sir Otto Kahn Freund, who also prepared a list of “economic crimes” that could not be held accountable if carried out in resolving or facilitating trade disputes. In Downing Street, a representative of a trade union soon showed there. To put it briefly, labor unions did not decide on industrial matters with the government alone until 1921.

Similar claims were made by certain academics on the Labor Party at the time; on the surface, the Labor Representative Committee gathering in 1900 was in reality a union conference. In addition to this theory, 48 of the 57 Labour MPs who were elected in 1918 joined a union. However, when Ramsey MacDonald made the decision to consult city bankers rather than union allies about the financial crisis brought on by the union collapse, the Labour Government started to distance itself from the trade unions and secede from power.

Due to this, the number of union members quickly increased, from 1.5 million in 1894 to 4.1 million in 1914. The number of union members increased after the First World War and the postwar boom, reaching 8.3 million in 1920. Despite the fact that a severe recession followed this boom, there were only 4.4 million union members in 1933. According to academics like Mike Cannell, the unemployment rate is on the rise. a rise in female membership.
The UK Collective Action Act has seen a number of significant modifications from the government since 1997. British union members do, however, have less strike powers now than they had in 1906, the year the present strike legislation was enacted. Judicial strikes are still susceptible to intimidation and job losses. Trade unions are also subject to significant financial and administrative burdens under the British Industrial Control Act, which also fails to take into account changes in the economy and the labor market.

According to Sidney and Beatrice Webb’s definition, “a union is a permanent workers’ group meant to preserve or enhance their job circumstances,” this is one of the most significant and fundamental aims of the union charter. They were established to work together to address the wage issue. Their objective is to raise salaries above the level of competition in order to promote the material welfare of the sector. The hours that employees work are another objective. Yet, it was seen that employees passed union tests in the early stages of the strike and for a long time throughout the national defense in the late 1990s. The propensity to participate in collective bargaining has marginally decreased. Many employees now think they can negotiate more effectively without having to pay such union dues in order to secure their rights, but as the 1999 Labor Relations Law promotes, unions still play a significant role in protecting workers’ rights. To defend the interests of trade unions and employees, collective bargaining via registered trade unions is still the best option.

The rise of atypical employment, according to researchers, is a significant element in lessening trade union power. There is considerable evidence that significant businesses in the banking, distribution, and retail sectors used part-time and temporary employees at all levels of the workforce throughout the 1980s and 1990s. Many academics looked at large datasets, such the British Labour Force Survey, and discovered a similar trend of ongoing rise in insecure occupations. Due to the fact that almost half of British employees are part-time, self-employed, jobless, or enrolled in different training programs, union membership has decreased, although it is still at the level of full-time representation.

We also discovered that people’s attitudes on their jobs will alter with time. Several flexible work arrangements, including at-home and remote work, have drawn a lot of attention lately. Higher salaries than equilibrium were the outcome of the settlement of the strike and the fall of trade unions. Also, it has been noted that management participates in collective bargaining, union managers get specialized training on how to engage with employees, and the practice of individual negotiations is becoming more popular. The cornerstone to personnel policy is the chief, who serves as the focal point.
It is clear that the history of trade unions started with the Industrial Revolution, when employees were obliged to seek safety via collective bargaining due to the growth of factories and the loss of labor.

Despite this, the first attempts at organization were widely seen as unlawful. And, like in the instance of Torpadel, was punished with jail or “removal” to the colony. Yet, several laws that prohibited alliances were overturned in the 19th century. As a consequence, the union quickly grew. Other laws, like the Labor Dispute Act of 1906, which shields employees from legal action for taking part in a strike as long as the strike is called by a trade union and adheres to certain guidelines, are in favor of it. The union is the sole legal means of going on strike.

 

Background to the study

According to Gregory, there are a number of reasons that contribute to gender discrimination in the workplace, including culture, prejudices, and “fear of humiliation” (2003). Our culture shapes who we are, what we do, and what we believe. One may only act in accordance with their beliefs about the ultimate goal.
In a culture where women are seen as less valuable, this idea will undoubtedly permeate the workplace. For instance, a person in the hiring authority would not select a woman to a high position if they were told that women are not eligible for them.

 

Managers that are afraid to admit that their female coworkers are capable of doing the same or even greater job than they are do so out of a “fear of embarrassment.”
When a woman comes up with an idea, for instance, at a company where it is policy to promote individuals who are inventive, the manager can reject to promote her because she might “usurp” his authority. At the workplace, gender discrimination may take many different forms. This might take the form of harassment, victimization, direct or indirect discrimination (Dipboye & Colella, 2005).

Direct discrimination occurs when individuals are directly favored or disfavored at work using criteria like salary awarding and job benefiting by preferring a specific gender. The major ways that covert discrimination is exposed are when rules are broken or when regulations are established that happen to favor one gender over another.
Workplaces are settings where harassment based on gender occurs. The greatest effect comes from this. This is because negative impacts are often those that have both emotional and psychological components. This includes sexual exploitation that occurs at work and in the workplace.

Victimization is when a person is treated unfairly by their workplace and does not apply to their opposite sex peers. One of the most prevalent forms of gender-based discrimination at work is victimization. Prejudices of a chauvinistic kind are mostly to blame.
Today, gender discrimination is a significant barrier to achieving peak performance at work. This might be seen from a variety of angles, with an emphasis on creativity and the quality of the work. The effect is significant for industrialized nations, for instance, where the economy is dominated by service-based businesses. Both sexes are taken into account when discussing gender discrimination, even though women are often the ones who experience it.

Statement of problem

In this essay, gender prejudice against women is mostly examined. In addition to violating human rights, gender discrimination also amounts to breaching the law. This essay explores this phenomena, offers an explanation for gender discrimination, discusses how it affects work performance, and offers suggestions on how to combat the problem.
In an atmosphere with gender stereotypes, women make up a large portion of the workforce. They hold roles such as the administrative and clerical among others. Due to the assumption that they prioritize their families, pregnant women and women close to giving birth are not permitted to get employment.
This exposes women to large offices with high salaries and more opportunities to advance inside the organization. The report also examines potential strategies for addressing workplace discrimination against women.

Review of the literature

By gathering information from two telecom organizations, one of which is government-owned (ufone) and the other a private multinational corporation (telenor), Qaisar, Abdul, and Aamer (2011) described gender discrimination and its impact on employee productivity, which directly impacted the organization’s profitability. They discovered a negative link between employee performance and gender discrimination in recruiting, promotion, and employee benefits. Organizations must refrain from gender discrimination in recruiting, promotion, and employee benefits in order to thrive and generate profits. Employee productivity and organizational profitability both rise in organizations with strong cultures.

Research on gender prejudice in the workplace and its effects on workers of the private and public health and education departments in the Hyderabad and Jamshoro districts was undertaken by Channar, Abbassi, and Ujan in 2011.
They discovered that the private sector discriminates against female employees more more than the public sector. Stress and gender discrimination are positively correlated, but these two factors are negatively correlated with work satisfaction, dedication, and excitement. Discrimination based on gender lowers employee happiness, motivation, dedication, and excitement while raising stress levels.

Barsha (2007) conducted study on private businesses in Pokhara using a sample of 100 ladies of various ages. They discovered that men behave favorably toward women. In structured employment, women are self-motivated and do not experience sexual harassment, gender discrimination, or the glass ceiling. The attitude of women is favorable, and they have parental support for career and professional success. Most women cite socio-cultural factors for their lack of professional advancement. Female respondents disagree that men have more talents to accomplish office job and that their work does not effect how well they function at home, and they have a higher conviction in their capacity to handle demanding tasks.

Adhikari (2014) investigated five Lucknow-based IT firms.
There is severe workplace discrimination against women since they are paid less and have fewer benefits than males, which lowers their morale and reduces their productivity. She found no discernible differences between the performance of male and female employees of either gender.

According to Swimmer (1990), promotions for female clearical personnel are discriminated against compared to those for men. Results indicate that female clerks face more challenging and unique advancement requirements than male workers.
According to Francine & Jed’s research from 2007, there is no gender difference in the rate at which female workers are promoted or given higher ranks, and there is also no difference in the compensation increases that come with promotions.

F., J., and O. (2013) carried out a research on private hospital physicians to examine the impact of gender prejudice on productivity. Descriptive and inferential statistics are used to gather and analyze both primary and secondary data. Results indicate that workers who experience gender discrimination lose motivation, which has an immediate negative impact on their productivity. Discrimination based on gender has a detrimental effect on a private hospital’s profitability.

Daniel, Adewale, Anthonia, and Olumuyiwa (2014) came to the conclusion that discrimination based on gender had a detrimental impact on employee performance. Female employees face discrimination when applying for management or higher level roles, which negatively impacts their performance.

The findings of Hersch & Viscusi (1996) show that women get more promotions than males because they are hired at lower levels, which creates more opportunity for promotions. However, promotions do not result in higher wages for women than for men.
Promotion results in greater salary growth for males.
White and visible minority women are less likely to be promoted at lower levels of organizational hierarchy, according to research by Margaret & Alison (2009), while visible minority males are likewise less likely to be promoted at lower and higher levels of organizational hierarchy.
Mustafa & Rabail (2014) performed a research in the private banking industry to look at gender prejudice in the workplace and how it affects female employees’ productivity levels.
they discovered that the employee commitment and performance were unaffected by gender discrimination.

Nick (2012) drew the conclusion from the findings that female workers in lower or intermediate position/career levels suffer more impediments to advancement than female employees in higher position.
Women working in higher positions faced additional barriers and challenges due to gender discrimination, according to Janeen & Wright’s general theory from 2000. They performed research to test this hypothesis. They could not discover any proof of the glass ceiling effect in the USA.

According to Napari & Antti (2011), men obtain greater opportunities for promotions during the first year of employment, which increases the gender gap, whereas women start their careers at lower positions and make more money than men do.
When an employer changes, male workers profit more, while internal promotions favor female employees.
Deborah (2011) found that while female employees saw higher wage increases linked to promotions, male employees were more likely to receive promotions.
Syed, Shaikh, and Herani (2010) conducted research on pay discrimination based on gender. They found that it lowers job motivation and satisfaction, which in turn lowers employee performance and organization performance and creates issues with lower level (blue-collar) workers’ retention. The findings show a significant link between gender bias and wage dissatisfaction, wages (female workers’ salaries differ from male workers’ salaries), and business productivity.

 

CHAPTER ON/INTRODUCTION

Background to the study

Energy continues to be the center around which all socio-economic and technological development in every country revolves, and as a result, having access to a steady supply of energy is thought to be essential for the smooth running of all business development. As a result, inconsistent energy supply has an impact on all business operations. With a wealth of natural resources, including potential energy resources, Nigeria is one of the largest developing countries in Africa. But expanding access to energy in Nigeria has proven to be a recurring problem (Odularu and Okonkwo, 2009). Nigeria must therefore address its ongoing energy crisis in order to meet the country’s rising energy demands. According to Iwayemi (2008), this crisis has significantly hampered efforts to achieve sustained business and economic growth, the competitiveness of domestic industries on regional and global markets, and the creation of jobs.

The Nigerian economy’s oil and gas and power sectors are both included in the energy sector. It accepts additional unconventional energy sources like nuclear, solar, wind, and biomass, among others. Due to its multiplier effect on all other economic sectors, it is one of the most significant sectors in Nigeria. Both its potential to encourage significant business development and its contribution to government revenue are enormous. The energy sub-sector is thus linked to infrastructure, skill acquisition, the Knowledge Based Economy – ICT, Technology Based Investment, Agricultural Businesses, Solid Minerals, and a wide range of other things. One of the fundamental sectors that is most important to the overall development of countries is energy. As a result, one of the indicators for determining a nation’s level of life is energy usage.
The sector’s goal is to offer the country with an energy supply of roughly 7,000 Mega Watts that is sufficient and dependable. The capacity utilization was as low as 2,200 MW in June 2013 but now varies between 3,500 and 4,500 MW (NIIMP, NPC 2015). Nigeria now has 30% of its installed capacity coming from hydro and 70% of it coming from gas. There are reportedly enough gas deposits to power more than 50,000 MW of the country’s entire exploitable large-scale hydropower potential, but only 5,000 MW are presently built (NIIMP, NPC 2015).

Nigeria’s transmission system is divided into two categories: a 132kV network and a 330kV network. There are two components to the fundamental transmission infrastructure for any network. Transmission lines and transmission substations are what they are. While substations and distribution lines with varied capacity make up the distributing infrastructure All economic activity that is productive, such as manufacturing, trade, agriculture, and all industrial services, is driven by the energy subsector.

Recently, there has been an upsurge in private sector engagement in the energy industry. Since the year 2000, private companies have received 55 licenses. Nine of these tiny, privately-driven energy producing units are now being built, leaving roughly twenty operating. There are now fewer generation companies operating in Nigeria as a result of the privatization of the assets of the Power Holding Company of Nigeria (PHCN) and the National Integrated Power Projects (NIPP). Over the previous ten years, there have been inadequate investments, which is one of the generational concerns. The National Integrated Power Project (NIPP) plants are insufficient in comparison to the overall need, according to the National Integrated Infrastructure Master Plan (2015). Energy sector generation and distribution have been privatized. This development has already begun to bring about desperately needed investment in generation assets (NIIMP, NPC, 2015).

The energy sector has played a crucial enabling role in supporting economic growth and business development in emerging economies. The force

From employment generation to resource efficiency, sectors have a big impact on the health and sustainability of the overall economy. The energy industry has a significant effect on the growth of businesses and influences almost every item and service in the economy (Voser, 2011). Simply put, the operation and performance of the business sub-sector are influenced by the energy sub-sector. Other significant and related characteristics, such as greater opportunity equality, political freedom, and civil rights, are believed to be part of development. The main objective of development is to expand everyone’s access to economic, political, and civil rights, regardless of gender, ethnicity, religion, race, area, or nation (World Bank, 1991). It is well acknowledged that the availability of power and corporate growth are strongly correlated.

The development of Nigeria’s economy and commercial sector have been significantly hampered by the country’s inadequate and poor access to power. Small and medium-sized businesses have long been considered the backbone of the economy, yet owing to insufficient energy supplies, they perform appallingly. Rising energy consumption has been noted by researchers as an important aspect of growing economies. According to Morimoto and Hope (2001), the availability of a sufficient and reliable energy supply is a key component supporting corporate development and economic progress in emerging nations. Business development, improving production structures, patterns, and evolution, resource allocation, and efficient resource use should be of the utmost importance in order to guarantee a proper recovery of the socioeconomic process within the framework of an effective economic system. A country should be prepared to provide a sufficient and consistent energy supply if it wants to achieve economic growth and development. Is Nigeria prepared for this leap forward in development?

Priorities have been established to raise generation from the present level to 20 GW by 2018 and to 350 GW by 2043, with a concentration on gas as the immediate priority and the addition of alternate sources after 2023, taking into account Nigeria’s aspirations and targets for the energy industry. This will improve the distribution capacity, with an urgent emphasis on strengthening the transmission capacity, with priority given to

enabling industrial customers to get power while minimizing distribution losses. Priorities for the energy sector’s oil and gas objectives include building infrastructure for gas distribution and increasing refining capacity to completely satisfy domestic demand.

In order to fulfill the nation’s rapidly rising energy demand, the Oil and Gas subsector is also advancing “gas to power.” By 2030, the country hopes to be self-sufficient in premium motor spirit (PMS), with oil output rising to 4 mbpd by 2043. The capacity of Nigeria’s gas output would rise from 7,580 to 11,000 mcfpd by 2018 and to 15,000 mcfpd by 2043. The oil-based industries’ production capacity are anticipated to increase in line with this (Energy TWG, 2015).

The expectations and priorities for the energy sector include completing the privatization of the assets used for power generation and distribution, laying out a clear path for the Transmission Company of Nigeria’s (TCN) development, including giving it authority to lead future industry planning and welcome private sector investment, putting the Transmission Reinforcement Plan into practice to address transmission bottlenecks and enhance grid capability, and finishing up the implementation of the Gas Master Plan. As a result, energy supplies are crucial to the productivity of the manufacturing and industrial sectors of the economy. These would be founded on the idea of developing market-based strategies and having a solid regulatory framework (Hammond, 2012).

Nigeria started producing electricity in 1896. In 1929, a hydroelectric power plant was built at Kurra, close to Jos, and the Nigerian Electricity Supply Company (NESCO) began operating as an electric utility company in Nigeria. The first 132KV line between Ijora Power Station and Ibadan Power Station was built in 1962. The Electricity Corporation of Nigeria (ECN) was founded in 1951. The mission of the Niger Dams Authority (NDA), which was founded in 1962, is to maximize the nation’s hydroelectric potential. However, the National Electric Power Authority was created in 1972 as a result of the union of ECN and NDA (NEPA). In 1998,

NEPA lost its monopoly over the production, transmission, distribution, and sale of energy.

A law creating PHCN, an Initial Holding Company (IHC), was passed by 1999–2000 as a consequence of government efforts to revive the energy industry. This was the planned name for the privatization that was supposed to transfer NEPA’s assets and liabilities to PHCN. It was given the green light to start operating in 2005 and handle NEPA business. In a similar vein, the National Integrated Power Projects (NIPP) were established in 2004 in order to accelerate and expedite the upgrading of adding additional capacity to the present available power capacity in the nation. The Niger Delta Power Holding Company, which is presently in charge of it, effectively undertook this as a commercial enterprise (NDPHC).

Six producing businesses, one transmission firm known as Transmission Company of Nigeria (TCN), and eleven distribution companies make up the 18 companies that made up the PHCN as a whole. Egbin Electricity Generating Company (EEGC), Sapele, Ughelli, Afam, Shiroro, and Kainji are the power-generating businesses. Additionally, there are a few new Independent Power Producers operating under the Niger-Delta Power Holding Company’s supervision (NDPHC). Benin Electricity Distribution Company (BEDC), Eko Electricity Distribution Company (EkEDC), Enugu Electricity Distribution Company (EnEDC), Ibadan Electricity Distribution Company (IbEDC), Ikeja Electricity Distribution Company (IkEDC), Jos Electricity Distribution Company (JEDC), Kaduna Electricity Distribution Company (KdEDC), Kano Electricity Distribution Company (KnEDC), Port-Harcourt Electricity Distribution Company (PEDC) are the 11 distribution (YEDC). Currently, the Federal Government controls 20% of the producing firms and 100% of the transmission company (with 80 per cent of equity sold to private investors). So, the generating firms (GENCOs) are 80% owned by the private sector, 20% controlled by the government, and 100% held by the transmission company of Nigeria (TCN). 60% of DISCOs are owned by the private sector, and 40%

the government owns. The government has authority of the TCN (nonetheless, the management of TCN is handled by the Canadian company, the Manitoba Hydro Company). The Federal Government distributed ownership certificates to potential owners on September 30, 2013.

The highest generation was 1,500MW as of August 2000. This was far less than the expected demand of 4,500 MW. The radial transmission lines were overwhelmed. The power transformers had been neglected for a long period, while the switchgear was out of date. Because many of the distribution transformers were overloaded and the wires resembled “cobwebs,” the distribution sub-sector desperately needed to be upgraded. The overall transmission and distribution losses ranged from 30 to 40%. Collections were less than 50% of the electricity produced when these factors were combined with customers’ poor payment history (NIIMP, NPC, 2015).

4,833.7MW was the predicted load for the year 2001. A producing capacity of around 6,000MW was needed to accommodate this demand. In 2005 and 2010, the expected electricity demands were 9,780 MW and 20,000 MW, respectively. By the corresponding years, they needed generating capacity of 12,700 MW and 25,000 MW. As a result, it became imperative to immediately and in the near future add additional producing, transmission, and distribution capacity to the grid in addition to completely renovating the existing power plants (which were anticipated to produce a maximum of 5,400MW of generating capacity). The power objective for the years 2014–2043 calls for increasing generating capacity from 7 GW in 2013 to 350 GW by the end of 2043, as well as ensuring enough transmission and distribution capacity to meet both industrial and residential demand for this energy production. By the end of 2043, the overall length of 330 KV transmission lines will have increased from 5,552 km in 2013 to 16,600 km. From 2013 to 2043, the overall transmission transformer capacity will increase from 6,000 MW to 420,000 MW (Energy TWG, 2015).
Nigeria’s Vision 20:2020, on the other hand, emphasizes the need of infrastructure, particularly a steady supply of electricity, for attaining sustainable growth and development. The government set a generating goal of 40,000MW to achieve Vision 20:2020. Even the average person is impacted by the effective functioning of important government parastatals within the national economy. The main public utilities are parastatals whose operations may be considered to constitute a significant portion of most people’s everyday lives, both at work and at home.

There are concerns that the restructuring of the energy industry did not advance commerce in Nigeria, a matter of national discussion. The contrasting findings arising from the contribution of the energy industry to the commercial growth of Nigeria’s South Eastern Zone and its influence on the entire economy are still being debated, despite empirical research and outcomes.

Statement of the Problem

Numerous Nigerian governments, from military to civilian, have started energy restructuring programs to solve the country’s energy issues, but despite significant capital expenditures included in the national budget for this purpose, little progress has been made. The energy sector in Nigeria has shown a relatively low capability. The existing level of transmission and distribution capacity is insufficient.

As a result, there are many additional issues with the Nigerian energy industry, especially in the areas of low power production, transmission, and distribution. The limitations have caused a gap between the supply and demand of power, and the industry continues to be plagued by a lack of local technology and human resource input. Additionally, it has yet to be stabilized how much more gas will be produced in order to serve the anticipated gas power plants as well as expand other gas-based businesses and petrochemicals.

Once again, this sub-sector is seriously threatened by instability, particularly in the South Eastern Region. Gaps in the energy sector has hampered the growth of

Nigeria. However, the country’s current economic crisis has prompted a reconsideration of government engagement in these parastatals. In essence, the emerging countries’ distinct historical backdrop has made considerable government engagement in the majority of economic sectors necessary, especially the Energy Sector.

One of the biggest issues with energy generation capacity in Nigeria has been the inability of the energy supply to properly satisfy the demand for electricity consumption. The production, transmission, distribution, and consumer sales of electricity have all been the responsibility of this utility, which has been administered as a vertically integrated business. The existing capacity struggles to meet demand from both residential and industrial clients because to the strong development rate. Energy supply disruptions in the manufacturing and industrial sectors have given the issue a very alarming dimension.

These issues, which among others include but are not limited to poor generation capacity relative to installed capacity, inadequate supply, outdated technological power plants, fluctuating water levels powering the hydro plants, vandalism of existing power infrastructure, and gas supply company failure, are the root causes of the energy sector’s inability to effectively meet the demand for energy consumption in the country and in particular the South Eastern Zone of Nigeria. An obstacle to company growth and survival in Nigeria is the difficulty of businesses to acquire the energy supply required for corporate development.

Energy interruptions are common in the manufacturing and industrial sectors as well as in residential areas. This demonstrates how the energy industry is unable to satisfy the South Eastern Zone of Nigeria’s energy requirements. As a result, a restructuring program was launched in an effort to guarantee consistent energy supply and boost corporate growth across the board. The aforementioned issues combined with frequent

Industrial production is impacted by energy equipment failure (apparently caused by overload), which reduces the amount of power that is available for use. The present state of Nigeria’s electrical supply, particularly in the South Eastern Zone, depicts a condition of supply crisis in which socioeconomic activities, industrial expansion, and corporate development are restricted to levels below the economy’s potential.

Objectives of the study

 

 

 

The USA economy has created millions of jobs for both U.S. citizens and immigrants since Biden took office, and that has continued.

If you’re looking forward to migrating and working in the United States, I would say you’re one step away to achieving your dream.

In this article you will find USA jobs for immigrants available and accessable to anyone who wish to relocate to United States.

Unemployment is falling rapidly because a number of industries, including manufacturing and health care, are experiencing significant growth under Biden administration and there’s high demand for employees.

America is one of the world’s most advanced economies, with almost every industry operating globally and as well bringing change and innovation to key areas of our lives.

Every day in the United States, one new company is created, hundreds are expanded, and new jobs and positions are created. So you stand a chance of landing a very lucrative job.

Job opportunities in the USA for Immigrants

• Administrative Assistant   $37,169
• Auditor                                $47,500
• Bookkeeper/Clerk              $38,991
• Receptionist                         $31,200
• Human Resources Officer $110,350
• Actor                                     $33,949
• Architect                               $136,409
• Fashion Designer                $52,500
• Graphic Designer                $50,000
• Photographer                      $35,100
• Seamstress                           $30,225
• Business Analyst                  $90,008
• Educator                               $41,612
• Instructor                             $46,159
• Librarian                               $58,086
• Nanny                                   $34,125
• Professor                              $67,868
• School Principal                  $107,587
• Teacher                                $42,102
• Building Inspector             $62,420
• Carpenter                            $47,759
• Cleaner                                 $28,274
• Electrician                            $57,838
• Equipment Operator         $39,000
• Mechanic                             $51,973
• Millwright                            $53,625
• Painter                                 $37,085
• Plumber                              $58,500
• Superintendent                 $87,500
• Welder                                $39,000
• Project Engineer               $91,999
• Software Engineer            $122,444
• Systems Engineer             $112,238

How to Apply

The easiest way for foreign workers to find work in the United States is to find work with an organization in their home country that has offices in the United States and offers relocation opportunities to the United States.

If this is not possible, you should apply for a job before entering the United States due to strict visa requirements. Therefore, we have created this article to inform you about employment opportunities in the United States and direct you to our application portal.

You may apply for a job by visiting Indeed.com, applying for a posted job, and submitting your resume (known in the United States as a “resume”) and cover letter.

Some jobs also require you to fill out an application form. If you pass, you will be invited for an interview. The interview may include some type of psychometric test. Depending on the position and employer, there may be several interviews.

USA Work Permit Visas

The United States is a complicated country with strict immigration policies, but there are many different programs and visas for specific categories, so you should choose the right one. For example, the J-1 exchange program offers up to 18 months of professional experience and cultural exchange for students and professionals.

Having a sponsoring employer helps, but that’s very rare unless you find a job at a multinational company and move to a US office to enter the US. The L-1 visa is an option for companies wishing to transfer to a U.S. branch office for up to five years.

Employers seeking certain qualified positions can apply for an H visa. These include H-1 visas for professionals and personalities, to H-2B temporary worker programs for seasonal workers such as ski instructors. However, the number of these visas is very limited and applications must be made by employers, not individuals.

BACKGROUND OF STUDY

The increasing size of government coupled with the ongoing global financial meltdown has renewed interest in the study of how the public sector can be used to provide a stimulus thereby remedying the situation and supporting the long-run growth of the Nigerian economy. The argument on how the public sector affects growth is polarized along two schools of thought. Those who believe that the public sector promote growth do so because of the provisions of public goods, the corrections of negative externalities and market failure by government etc. While those who think contrary to this, do so because they reason that taxes generate distortions in the economy and as such lead to lower growth, (Widmalm, 2001). The effect of taxation on growth depends on what is taxed, i.e. if the tax system extracts more or less resources from private agents (the tax level), or because they raise a given amount of revenue in more or less distortive ways (the tax structure), (Arnold, 2008). Taxation is thus, one of the most important variables that affect long term economic growth, but this simple truth has been neglected in the Nigerian economy because of the huge revenue generated from oil.

Tax structure refers to the mix of taxes on physical and human capital which satisfy a given government budget constraint, (Widmalm, 2001). Studies on tax structure have argued that the type of tax system adopted in every economy has implications on the economy through its effect on the supply of labour, investment in both physical and human capital and even savings, and since growth simply depends on the accumulation of capital and labour, so that any work studying tax effects on investment and labor supply do capture the relevant effects on growth. That is why the study of tax structure and economic growth is important in every economy especially an open economy like Nigeria that has to compete with other economies for investment.

According to Musgrave (1969), in the theory of tax structure, economic factors bear on the tax structure development in two ways. As the structure of the economy changes, the nature of the tax base changes as well, and with it the handles to which the revenue system may be attached. This change in either the tax base or tax handles subsequently leads to a change in the productivity of tax systems and economic growth. Some of the works done in this area include Ndekwu, 1988; Katz et.al., 1983; Helms, 1985; Koester and Kormendi, 1989; Wang and Yip, 1992; Easterly and Rebelo, 1993; Devereux and Love, 1994; Milesi-Ferretti and Roubini, 1998; Widmalm, 2001; Bleaney et. al, 2001; Arnold, 2008; Cardia et.al, 2003; Lee and Gordon, 2004; Anastassiou and Dritsaki, 2005; Loan et.al, 2007; Arnold 2008; among others.

The Nigerian tax structure was initially defined to include only the direct and indirect taxes. The direct tax is made up of personal, corporate income and petroleum profit taxes. Indirect tax which was formerly made up of import, export and excise duties have undergone various reforms with the taxes under it joined together and called customs and excise duties. The tax handles under indirect taxes have increased, with the inclusion of withholding tax regime in 1978; value added tax (VAT) in 1993 and other tax systems. A study group and a working group were also inaugurated in 2002 and 2004 respectively to fashion out ways to entrench a better tax policy and improve tax administration in the country.

Available statistics shows that the link between taxation and economic growth in Nigeria since 1970 has been unstable. Between 1970 and 1990, the contribution of tax revenue to GDP was below 30 per cent, with the lowest being 9.7 per cent in 1970 and the highest of 24 per cent in 1982. While this is so, direct taxation has remained the highest contributor to this basket hovering around 28.1 per cent and 85.9 per cent within the period. Petroleum profit tax formed the bulk of this revenue from direct taxation with the highest contribution of 94.7 per cent in 1974. Udoh & Ebong (2009) highlighted the increasing importance of revenue from direct taxes relative to indirect taxes. This they adduced to the dominance of the oil sector in the economy. This sector showed a decreasing return between 1995 and 1999, thus affecting the shares of petroleum profit tax in direct tax revenue and also the total tax revenue. Beginning from 2003, the shares of direct tax revenue have been within the range of 72.0 percent and 84.7 percent. This is largely due to the high price of oil recorded in most part of the period 2003-2008. All these show that the tax system in Nigeria is still in a state of motion and will continue to be until a system that will generate the highest revenue to government without causing a distortion or deadweight loss to the economy is produced

STATEMENT OF THE PROBLEMS

 

It is true that problem of tax collection and administration is universal but the third world countries of which Nigeria is one, seem to be more plagued and inflicted both in weight and magnitude than the developed nations of the world.

The research work primarily involves identifying the problems of the personal income tax generation and administration in Nigeria taking a case study of Board of Internal Revenue, Enugu state. The specific problems of this research are as follows:

1. Improper system of keeping accounts and records in the internal Revenue office, which was seen to be quite mechanical and out
2. Lack of staff and inadequate training of the available tax

 

3. No enlightenment on the part of tax payers as regards the importance of taxation is another problem of tax generation and administration .
4. Tax collection and administration in Enugu state is not efficient and efficiently
5. Also corrupt alliance of tax collectors with tax payers to avoid tax for them (tax collectors) to make fast

Thus lack of enforcement power on the board makes tax laws useless and not serious to tax offenders /defaulters.

INTRODUCTION

Employee satisfaction is the aim of most managers.  The  contention is  that a satisfied employee has a better attitude to work than a dissatisfied employee. It was once believed that satisfaction would lead to higher productivity. Research findings point to the fact that satisfied employee is not necessarily productive. Thus there is no consistent correlation between productivity and job satisfaction. (Ivancevich, 1970, p.139-151). Studies show,

 

however, that job satisfaction correlates negatively with increased absenteeism rate, labour turnover and poor morale.

Commenting on the lack of correlation between  employee  satisfaction and productivity, Kahn observed that no significant relationships were discovered between any of the indexes of satisfaction and the productivity of the work group. In other words, employees in highly productive work groups were no more likely than employees in low producing group to be satisfied with their job and the company, or with their financial and status reward (Kahn 1960 p.277).

These studies consistently point out that a satisfied employee does not out produce an unsatisfied employee but they do not claim that satisfaction is the cause of low productivity or poor attitude to work. An employees who  is satisfied and motivated is an ideal employee. What satisfies employees is many and varied. Factors such as gender, position, personal characteristics of the job holder level of education, income level, supervision, relationship with co- workers, size of the work group, job content, to mention but a few, are some of the major factors that influences employee job satisfaction.

Employee job satisfaction is influenced by the equitable distribution of organisational favours. Perceived inequity affects  employee job  satisfaction. The ability of an employee to perform his work up to expected standards influences job satisfaction.

 

An employee who is capable of performing an assigned task derives intrinsic reward from it, as he is capable of accomplishing something. He sees himself as having some control over his environment and may perceive himself as an achiever. This reward increases when the organization recognizes his contribution and gives him added incentive in the way of promotion or other privileges. If the employee believes that what he receives is equal to what other employees who have achieved level of productivity are entitled, he derives satisfaction. Extrinsic reward includes all forms of format recognition, promotion, advancement, pay, amenities, fringe benefits, and a pat on the back. These originate from the organization.

Intrinsic reward is an inner feeling of satisfaction originating from work well done, achievement, personal growth, status or power possessed and  informal recognition. This inner warmth a form of self gratification is very sustaining. Many employees will stay in the organization if they are denied extrinsic reward but possess intrinsic reward. Where the later is lacking, the employee is very likely to leave the organization, or become very tanty, play truancy and characteristically, show a very poor attitude to work. Satisfaction is very closely related to absenteeism and labour turnover (Nwachukwu op cit p.201). Nwachukwu posits that job satisfaction is important because  it influences absenteeism and tardiness and to a less extent, turnover of labour but not performance. It costs a lot of money to recruit and  train  employees  therefore no company can survive continuous high turnover of employee or

 

unexcused absenteeism. Job satisfaction affects staff turnover to an extent because turnover is also influenced by availability of alternative job opportunities. A dissatisfied employee does not resign his position  unless another equally attractive position is available.

Job performance can lead to job satisfaction. Job  performance  on the other hand, is a factor of other variables such as technology ability supervision and motivation.