The Role of Capital Market in Federal Government Financing

The Role of Capital Market in Federal Government Financing

Project / Seminar Material
Reference ID: PS-12047-TM

DEDICATION

This research material titled “The Role of Capital Market in Federal Government Financing” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Banking and Finance (BF), Book Authors and Profound Scholars of existing or related project material on “The Role of Capital Market in Federal Government Financing” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    The Role of Capital Market in Federal Government Financing

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    Broadly speaking, there are two kinds of chance revolutionary or discontinuous change which is gradually and common (suble) yet dynamic.

    It is this latter form of change that is advocated for the development of Nigerian securities market vis-avis the capital market as a means of sourcing funds for the public sector.

    Right from the day Nigeria returned their independence till date, the country has been searching for economic change and development that would bring better living for her feering population. This economic change and development could only be made possible by the public sector with enough of finance for its long-term project.

    However, comes the vital role, which the Nigerian capital market plays in the development of the nation. The public sector today knows no bound. What was seen as the public sector twenty years back will be grossly inadequate of considered as the public sector of present day Nigeria. Due to this seeming limitless nature of the public sector which embraces local, state and federal governments. The expenditure of these various government are always on the increase. But with the privatization and commercialization programme of federal government parastatals had either it runed down or put to an end to.

    The deregulation of the capital market is meant to bring about sanity to the operation of the capital market to foster the much needed role of providing capital or funds to the public sector for its financial obligations.

    1.2 Statement Of The Problem

    In the course of this study some problems associated with the Nigerian capital market have been identified.

    These includes:

    1. The frequent change of the federal government does not lead to changes in economic policies. These changes may in turn affect the operation of the capital market.
    2. With the final release of the deregulation guidelines of the capital market, the issuing houses now to securities valuation. These could lead to inside dealings whereby those in position of information on securities yet to be made public to take such advantage and by up the securities.
    3. The Nigerian capital market lucked infrastructural facilities such as reliable tele communication net work, date storage capacity etc. From where required information can be called upon when necessary.
    4. The corrupt manifestation by public officer rested with the responsibilities of taking care of government funds is a very great problem in Nigeria.
    5. The legal arrangement meant to guide the operation of the capital market where virtually borrowed. These prelude Nigeria comparies and even government establishments from engaging in the stock exchange trade actively.

    1.3 Objective Of The Study

    This research is wholly undertaken to examine the capital market and its financing impacts on government financing of the public sector.

    After the examination one should be able to know what the Nigeria capital market looks like, some of the contributions. It has made so far in the economy of the nation through the various tiers of government. This is to be done with following objectives in mind.

    1. To critically evaluate the Nigeria capital market with regards to its operation as its affects the public sector.
    2. To examine the effect of economic liberalization which is blowing through the whole world, or the Nigeria capital market.
    3. To examine the various ways or means by which funds are made available to public sector.

    1.4 Significance Of The Study

    In recognition of the nature of the study, and find that the study involves a lot of excuses and accuracy figures relating to statistical representations and schedules, the author adopted secondary sources data in preferences to any other. The important of this study should be able to know what the Nigeria capital market looks like, and some of the contributions. It has made so far in the economy of the nation through the various tiers of government.

    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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