This research work is conducted on the role of bank of industry towards the development of small scale enterprises. The aims and objectives of the study is to analyze the various role played by bank of industry in developing small scale enterprises as well as the activities of government policies, such as provision of infrastructural facilities. The researcher uses the questionnaire and interview method to collect the data from the respondents. The analysis and crossed tabulation of data gathered were done using the mean statistical method with the 1-5 Likert rating scale for proper accuracy in arriving at a dependable decision rule. Lastly the researcher concluded that, the bank of industry was able to maintain its customer because they do welcome whatever kind of financial assistance, he finally recommended that, the government should also endeavour to appoint the workers to teach the entrepreneur who does not have the advantage of attending seminar or workshops especially the illiterate ones.


Cover page - - - - - - - - - i

Title page - - - - - - - - - ii

Declaration - - - - - - - - - iii

Approval page - - - - - - - - iv

Dedication - - - - - - - - - v

Acknowledgement - - - - - - - vi

Abstract - - - - - - - - - vii

Table of contents - - - - - - - - viii


Introduction - - - - - - - - 1

1.1 Background of the study - - - - - 1

1.2 Statement of the problem - - - - - 3

1.3 Objectives of the study - - - - - - 4

1.4 Significance of the study - - - - - 5

1.5 Research questions - - - - - - 5

1.6 Scope of the study - - - - - - 6

1.7 Limitation of the study - - - - - - 6

1.8 Definition of terms - - - - - - 6

CHAPTER TWO: Literature Review

2.0 Introduction - - - - - - - 8

2.1 Conceptual Framework of small scale enterprises - 9

2.2 Definition - - - - - - - - 12

2.3 Reasons for small scale enterprises - - - 19

2.4 Reward for entrepreneurs - - - - - 21

2.5 Bank of Industry - - - - - - 25

2.6 Government and small scale enterprises - - - 28

2.7 Summary of Review - - - - - - 37

CHAPTER THREE: Research Methodology

3.0 Introduction - - - - - - - 38

3.1 Research design - - - - - - - 38

3.2 Area of study - - - - - - - 39

3.3 Population of the study - - - - - - 39

3.4 Sample size and sampling technique - - - 40

3.5 Instruments for data collection - - - - 40

3.6 Validation of the instrument - - - - - 41

3.7 Reliability of the instrument - - - - - 42

3.8 Methods of data collection 

3.9 Method of data analysis - - - - - 43

CHAPTER FOUR: Data presentation and analysis

4.1 Introduction - - - - - - - 45

4.2 Characteristics of the respondents - - - - 47

4.3 Presentation of data and analysis in table - - 50

4.4 Test of hypothesis - - - - - - 54

4.5 Research questions and answer - - - - 58

4.6 Research findings - - - - - - 60

4.7 Discussion of findings - - - - - - 61

CHAPTER FIVE: Summary, Conclusions and Recommendations

5.0 Introduction - - - - - - - 63

5.1 Summary - - - - - - - - 63

5.2 Conclusion - - - - - - - - 66

5.3 Recommendations- - - - - - - 66

References - - - - - - - - 70

Appendix - - - - - - - - - 73




The study of the role of government agencies towards the development of small scale enterprises is quite interesting. These enterprise have a very important impact on the life of everybody in the society. Small independence business are everywhere and in every line of work, they can also be seen in every community. This business is as old as man. So virtually everything is done in life involved the element of business. Small scale enterprise constitutes an importance in todays business activities or system. The role of small scale enterprise in our economic history however, has been one of the distribution and contribution.

Although its relative importance has decline with the growth of the big business, small scale business is till major contribution to the countries economy. Business in Nigeria today is made up of both large and small business. Today small scale enterprise have to enjoy more prestige than ever before because of its vital contribution to the nations economy. So vital is small scale business. There are successful small scale enterprise operating like the manufacturing plants, retails, stores, wholesales, drugs, computers, construction firms and hundred of other type of business. 

Nigeria population was estimated to be 140 million in 2007 with about 75% of this made up of small scale enterprise operators. Lack of full study of government agencies in the development of these enterprises especially, the financial institution made it impossible to   know the size, structure and function of these small scale business to the development of the economy.

Government agencies are charged with the responsibilities among others to carryout duties and deliver utilities as may be regulated from time to time on behalf of the government for the purpose of uplifting the standard of living. Government agencies such as bank of industry (BOI) is charged with the responsibility like provision of medium and long term finances by way of equity funding, loan and lease financing, guarantees, investment in corporate bonds business development services, co-financing, working capital finance and    promotion of small scale enterprises and industries project, co-sponsoring financial institutions and small scale enterprises.

This bank of industry was formerly originated from Nigerian industrial development bank limited was established in 1964 following the reconstruction of the investment company of Nigeria limited (ICON) NIDB was set up primarily to accelerate Nigerian industrialization. 

The bank was to conceive shortly after Nigerian attains independence in 1960. The idea was to set up development financial institution to serve as a dedicated window for channeling fund from within and outside the country to the young nation states industrial sector. Economic reconstruction fund (NERFUND) in the last regime of Obasanjo administration is renamed as BOI.


Most government agencies have undergone number of re-organization especially bank of industry (BOI) which affect their forces and activities that leads to effective performance and lack of proper control on their activities.

The most obvious problems of Bank of Industry (BOI) is how to produce or provide efficient financial resources technical assistance, security on loan given out to customer (SSE) evaluating of project that are financed which may take more time than stated at the beginning. 

Also the project time table, which depends on nature and complexity of the project, it may take one to two years sometimes longer from when project was identified to when it was commissioned.

On the part of small scale enterprises (SSE) how effective are they utilizing the services rendered to them by the bank of industry (BOI). Also are they able to cope with the policies adopted by this agencies (BOI) in obtaining loan and other services rendered such as interest rate on capital collateral facilities and the role of government.


The aims and objectives of the study is to analyse various role played by (BOI) in developing of small scale enterprises as well as the activities of government policies such s provision of infrastructural facilities, provision for local finance, facilitating and funding industries and funding institutions like the (CIRD), (FIRO) and (SSICS) to what does the policies of government are achieved towards developing Small scale enterprise. 

It is also to analyze the various ways by which bank of industries (BOI) has contributed effectively to the development of he economy through the role played in financing and provisions of other necessary features for development of Small scale enterprise.


The significance of the study is to serve a reference material to other students who may write on, make research on similar topic and serve as recommendation to bank of industry (BOI) in discharging its functions to the customers as well as the mode of rendering services to the customers small scale enterprise


Based on the subject matter, the researcher prefer to use the following questions for research findings;

1. What are the problems of small scale business?

2. What are the roles of small scale?

3.Are banks of industry the sole financier of small scale enterprise

4. Does government have favourable policies towards development of small scale enterprise


This study will cover the area of activities and role played by the government agency (BOI) in developing small scale enterprises.


It is not an easy assignment for a student to conduct a research work without encountering two or more problems one of such problems faced by the researcher was lack of adequate information which the researcher could obtain for necessary research work as some of the organization officials formed to be very busy and required for some signatory from the department before giving out information to be used.


Small Scale Enterprises (SSE): a type of business that is run and managed by a single person

NIDB: Nigeria Industrial Development Bank

BOI: Bank of Industry

NBCI: Nigeria Bank for Commerce and Industry

NERFUND: National Economic reconstruction Fund

FIIRD: Federal Institute of Industrial Research

SSCF: Small Scale credit fund

Interest: Certain amount that are charged on borrowed money

Capital: Money

Development: The gradual growth of some thing, so that it becomes more advanced, stronger

Community: Local country side




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