THE IMPACT OF ORPHANAGE HOME ON CHILD PERSONALITY DEVELOPMENT

THE IMPACT OF ORPHANAGE HOME ON CHILD PERSONALITY DEVELOPMENT IN NIGERIA 

Background of the Study  

The orphanage home is one of the numerous social institution that have emerged over the year to carter for some of the social needs  of orphanage associated with such problems.

Motherless  babies  have nowadays  become common because of the moral decadence of the society young people who cannot cater  for themselves find themselves  put in the   family  way they end  up find abandoning those innocent helpless babies.  The increasing hardship because of the present economic recession  has  increased the incidence of burden  family relationship and  the consequent loss  of firm control of  family members. This has tended as evidence  by the  increasing number of abandoned babies such babies have become the central focus of the orphanage home the impact of orphanage home on child personality development that is the behaviour pattern of social behariour on child personality  development.                 

The research try to compare children between the age of one (1) month to three (3) years that grows up in orphanage home  to those that grow-up with their parent children  from the orphanage behave  in a unique pattern thereby displaying some certain social behaviour attitude that could be associated with the up bringing in the orphanage home. I want to find out the positive and negative aspect of orphanage home on children personality development generally.  Any baby that  lost his or her  parent  especially the mother by what every means  become mentally ill once it is discovered the illness is taken from the mother by the  orphanage   children abandon  in hospital  or on the street are taken to the orphanage home. Social welfare services and training of professional social workers of all categories social workers can  succeed out making their contribution towards realizing their objective of government  in improving people welfare only after they have keenly understood the problem.

The causes and the effect of those people on he community the desertation is an attempt toward such changes taking place and their documentation the study will focus on the impact of the orphanage home on  child personality  development in the  later parts of his life.    

The Kaduna orphanage home is the birth child of Jammiyyar Matan Arewa.

The Jamiyar Matan Arewa itself is a social organization of northern women  established on the 27th May 1963 it  was aimed at unifying the women folk and  providing hem with a  forum of welfare activities.

The organization was to  be non-political  and it membership was to be opened   to all  tribes religions or social status at the very first meeting of the Jammiyar Matan Arewa which took place in the house of General Hassan Usman Katsina a steering committee was set up to carry on the task of mobilizing women for the association and also to plan and organize fund raising  activities to meet up the financial obligation of  the association.

1.2   Statement of the Problem Children brought up in the orphanage home cannot cope effectively with the outside world this display in their dispositions because most of them tend to be introverts and always want to keep to themselves in few causes they turn out to be backward in speed and verbal  intelligence. According to Segmund Fraud (1945) children who grown  up in the orphanage home may likely to affected in their  culture tradition, and religion are  their interests  belief ambitions ideas and soon thus affecting the personality  development as their behaviors is not only more indiscriminate but more immature than those children who are with their natural parent. Hence the increase in various research as to find out the effectiveness and influence of these home (orphanage home) on the child personality development.

1.3   Purpose of the Study 1.     Find out the positive and negative IMPACT OF ORPHANAGE HOME ON THE CHILD’S PERSONALITY DEVELOPMENT.        

2.     Determine the effect of orphanage home on child’s personality development. 3.     Find out the morale and attitude of children raised in orphanage home. 1.4   Research Questions. 1.     What are the positive and negative impact of orphanage home on the child’s personality development. 2.     What are the likely effect of orphanage home on the child personality. 3.     What are the morale and attitude acquired by children raised in the orphanage home.

1.5   Scope of the Study This study is limited to the orphanage home Kaduna.  Therefore the study is restricted to the impact of orphanage home on the child’s personality development.

THE IMPACT OF CHILD ABUSE AND NEGLECT ON THE SOCIETY

THE IMPACT OF CHILD ABUSE AND NEGLECT ON THE NIGERIAN SOCIETY

BACKGROUND OF THE STUDY  

The concepts of child abuse and child neglect are forms of maltreatment on the child that impedes child survival, development and participation. Children are seen as assets to parents and government because they are human resources that any society can boast of, therefore, parents and government invest in them in order to obtain better tomorrow. This can be achieved however, if their early child socialization is devoid of harmful cultural practices that crippled their chances of survival, development and participation. Ejikeme (1987) defines child abuse as a problem arising from the intention of an adult to carry out an act that is inimical or detrimental to the physical, intellectual, language, emotional, moral and social development of a child; while child neglect which involves some degree of deprivation refers to an intentional failure of an adult to perform physical, cognitive, moral and social development of a child. However, it is imperative to note in this premise that what constitute child maltreatment in one society may not be considered same in another society, this is because of cultural differences an belief, practices. From the above, it will be important to trace the fact that there might be different factors that caused child abuse and neglect since the application of cultural ideology is not universal; that is, it changes across societies. However, different forms of child maltreatment exist like: child trafficking, street begging, street hawking, child discrimination or child preference, early marriage, prostitution, child labour, use of virgin girl-child for ritual/sacrifice etc. despite tangible evidences or empirical indicators of child abuse and neglect, it is difficult to measure. 

This is so because it is recognized as a major social problem that occurs in all levels of social class, race, religion and ethnic groups. It is important to note that the practice of child abuse and neglect is supported by government indirectly when the individual is seen as a product of the society.

Poor socio-economic status of parents trace its roots through unemployment and destitution as government does not address social inequality, unemployment and poverty amongst its citizens, instead people in position work towards actualizing their selfish ends and those who cannot meet the society values

ENTREPRENEURSHIP EDUCATION AS A DETERMINANT OF EMPLOYABILITY

ENTREPRENEURSHIP EDUCATION AS A DETERMINANT OF EMPLOY ABILITY AMONG BABCOCK UNIVERSITY STUDENTS

1.1       BACKGROUND OF STUDY

The twenty-first century has been tagged the ‘entrepreneurial age’. This is because nations are been shaped by entrepreneurs, men and women who have made changes by risking                                various resources e.g. time, money, energy in establishing and running their own businesses. The unacceptable rate of youth unemployment in the country, the low standard of living and the hope of technological transfer has led to a renewed interest in entrepreneurship development in Nigeria. The claim of some people is that entrepreneurship education does not need to be taught and therefore, an entrepreneur is born to be so. It should be noted that for someone to be a successful entrepreneur, he/she needs to learn the skills (Griffin and Hammis, 2001). The global world is currently facing a very hard time and Nigeria as a nation cannot run away from it; rather we are to provide solution to some of these problems facing us. Some of the major problems facing Nigeria currently include recession, unemployment, poverty, inadequate and poor healthcare services, insecurity, Nigeria cannot resolve these problems when we neglect or refuse to develop the capacity for entrepreneurship which will lead to the employability of the youths.

Entrepreneurship education seeks to prepare people most especially the growing youths to be responsible and independent rather than dependent, to be thinkers who will contribute to economic development. It is not just teaching someone how to start a business rather it encourages creative thinking, innovation and the visualization of the thought.

 Education aims at influencing the learner’s characters and also enabling the learner to develop in all areas.

  The term entrepreneur was first used by Cantillon in 1734 to describe a person who bears the risk of profit or loss. Entrepreneurship which is the bedrock of the world and economy at large is the key driver of our economy in the sense that jobs and wealth are created by small businesses started by entrepreneurial minded individuals which then trend to grow into large establishments.

Entrepreneurship education encompasses strategies in introducing and instilling entrepreneurship attitudes into students. Entrepreneurship education instills in students the additional knowledge, attributes and capabilities required in the context of setting up a new venture or business and the ability to demonstrate initiative and original thought, alongside self-discipline in starting tasks. It is aimed at producing university graduates with thinking and entrepreneurial attributes; thereby enlightening them on the challenges of obtaining capital for business set-up. It is a lifelong learning process starting as early as elementary school and progressing through all levels of education.

Furthermore, entrepreneurship education will inculcate and expose the students and potential entrepreneurs to entrepreneurial values and skills which include the aspect of leadership, innovation, creativity, competitiveness independence, calculated risk and ability to identify and create opportunities (Akpomi, 2008).

More so, it is the incorporation into the students’ syllabus steps involved in starting a new business based on a recognised business opportunity as well as operating and maintaining that business. It will enhance necessary identification and avoidance of various problems that might be faced by the less trained contemporaries. The training in  may initially be perceived as a cost in terms of time and money but it would eventually be appreciated. The enlightenment philosopher John Locker (1632-1704) stress that every human has a fortune in their own personality. From the perspective of entrepreneurship, this means that this fortune of a human being is constituted of mental recourse which includes; internal entrepreneurship, self-development and learning new things and ideas, and also material recourses which refer to external entrepreneurship that is material values. Schumpeter in 1934 argued that entrepreneurship education is very significant to the growth and development of economies. It becomes apparent that careful attention is needed to invest and promote entrepreneurship, having understood the vital role of entrepreneurship in economic development through employment. The development of employability and entrepreneurship skills has to be through a series of well-coordinated steps and processes, not the current slapdash approach in which in various universities the first two years of study, undergraduates are taught the theory of entrepreneurship while in the third year they are then taught practical. it should realized that entrepreneurship cannot be taught in isolation of employability skills.

Employability is a continuous learning process that means once employed, learning does not stop. Employability is a management philosophy; developed by a student Rashid Khan from India, Mumbai, which recognises that employment and market performance stem from the initiative, creativity and competencies of all employees and not just from the wisdom of senior management. Lee Harvey defines employability as the ability of a graduate to get a satisfying job, stating that job acquisition should not be prioritized over preparedness for employment to avoid pseudo measure of individual employability. Lee argues that employability is not a set of skills but a range of experience and attributes developed through higher-level learning, thus employability is not a “product” but a process of learning.  Students who engage in developing their employability are said to be likely independent, reflective and responsible learners.

Unemployment is a common phenomenon among graduate hence the need for entrepreneurship education cannot be over emphasized, thus, it will help to reduce if not eradicate this havoc of unemployment in our society. Unemployment has led to mental health, health disease, crime and violence, suicide case and even poverty. Nigeria unemployment rate was recorded at 12.1% in March quarter 2016 and 13.3% in June quarter 2016, up from 10.4 percent in the fourth quarter of 2015, the number of unemployed persons rose by 18 percent that is 9.485 million, meanwhile, youth unemployment increased to 21.5 percent from 19 percent as reported by the National Bureau of Statistics, Nigeria. Nigeria is in a present state of recession having realised two consecutive quarters of negative GDP (gross domestic product), in March quarter -0.36 and in June quarter -2.06 in 2016, at this stage, job creation will be very difficult in Nigeria. Having seen the above statistics it could be deduced that the unemployment rate in Nigeria keeps increasing over the years, this problem can be capped with the introduction of entrepreneurship education into the university syllabus. The Phillips Consulting Education and Employability Report (2014) highlights the need for skills such as critical thinking, interpersonal relationship, ability to work with technology, etc, but these skills have not been taught  in our universities in order to equip students ,taken to consideration that these skills are required for employability thus rendering the students unemployable in the society.

The federal government of Nigeria in an attempt to ensure that her citizens are self-employed established the National Directorate of Employment in 1986. It is the belief of the government that this agency will reduce unemployment, which is a problem in our society. The agency’s operations include; reactivation of public works, promotion of direct labour, self-employment, organisation of artisans into cooperative and encouragement of culture of maintenance and repairs (Onifade, 2001). In others countries like UK, by 2000, business and entrepreneurial development was listed by Universities UK as one of four strategic goals for British universities, the broad aim of this initiative was to add value to society and the economy though the transfer of knowledge and also presented an opportunity for higher education institutions to contribute to the development of entrepreneurial and enterprising students, and graduates. The Department of Business in 2008, Enterprise and Regulatory Reform reported on the Government's renewed strategy and vision to make the UK the most enterprising economy in the world and the best place to start and grow a business. It laid out a new enterprise policy framework around five separate but interlinked themes as key enablers for the country's enterprise performance: culture of enterprise, knowledge and skills, access to finance, regulatory framework, and business innovation. The report highlighted the need for enterprise education from primary to tertiary education, the Government's vision of inspiring an enterprising approach among students and graduates, and the promotion of innovation as a core driver for enterprise (Berr, 2008).

However, this study will examine entrepreneurship education as a determinant of employability among Babcock University students using the final year students of the university as a case study. The University incorporated into the syllabus of the students irrespective of course or department a course known as ‘Entrepreneurship’. It is therefore necessary for these categories of students to think like an entrepreneur since they are expected to start their own businesses after graduation or work closely with entrepreneurs.

1.2       Statement of Problem

Nigeria educational system that turns out graduates from about 150 Universities and 50 Polytechnics and Monotechnics do not adequately train their graduates to be self reliant, but these graduates depend solely on white collar jobs for sustenance. It has been reported that about 80% of graduates find it difficult to get employed yearly and at the same time, much has not been done in trying to solve this problem. However, entrepreneurship education can bridge this gap by equipping the undergraduates in becoming a successful entrepreneur thereby creating employment.  Apart from the book knowledge that they gain there are no requisite skills to make them self dependent. Entrepreneurship skills acquired through entrepreneurship education has been recognised as an important aspect of organizations and the economy as a whole. It contributes in an immeasurable way toward creating new job, poverty reduction, wealth creation and income generation for both government and individuals.

Although, several attempts have been made at encouraging entrepreneurial activities in Nigeria in the past, there is no gain saying the fact that these initiatives failed to produce the desired results due to various constraints such as poor implementation, inadequate and inefficient infrastructural facilities and over bearing bureaucracy have been identified as being responsible for this failure.

This study therefore intend to investigate how entrepreneurship education provided in Babcock University syllabus has prepared the students for future employment challenges and the extent to which entrepreneurship education determines employability among Babcock University students.

1.3       Objectives of the Study

The general objective of the study is examining entrepreneurship education as a determinant of employability among Babcock University students while the following are the specific objectives;

To find out the assessment of Babcock University students on the course Entrepreneurship education. To find the impact of entrepreneurship education on Babcock University students To find out if entrepreneurship education can be a significant determinant of employability among Babcock University students.

1.4       Research Questions

What is the student’s assessment of entrepreneurship education? What is the impact of entrepreneurship education on Babcock University students? Will entrepreneurship education significantly determine employability among Babcock University Students?

1.5       Statement of hypothesis

 The following hypotheses will be tested in this study:

Ho1: Entrepreneurship education will not significantly determine employability among Babcock University students.

1.6       Significance of the Study

The move by the government through the Federal Ministry of Education to make entrepreneurship education one of the compulsory general studies for students in universities across the country should be seen as a positive step in the right direction. This is to inculcate in the youths the spirit of self reliance. This development will not only address the problem of unemployment and underemployment but will also ensure an entrepreneurial human capacity for national development and also give students an alternative career option and the confidence that they can set up their own business or social enterprise.

The significance of this study brings to knowledge the crucial need to increase employability through the use of entrepreneurship education putting more consideration on the educational system and its developmental effect in the society.

The study highlights the problems of lack of employment or knowledge of how to start-up businesses; the resultant effect of which is a society that breeds healthy partnership and motivation.

However, the contribution of this research work to knowledge identifies what is important to the economy, which is qualitative entrepreneurship education in increasing employment which is the focus need of the economy.

1.7       Scope of the study

This research work which focuses on entrepreneurship education as a determinant of employability which will be carried out among 400level students of Babcock University The study considers entrepreneurship skills of this group of people to be relevant because they have undergone the course ‘Entrepreneurship’.

1.8       Operational definition

In the course of this study the following variables entrepreneur, entrepreneurship, education, entrepreneurship education, employability and unemployment have been used constantly, this will serve as a guide in understanding this variables;

Entrepreneur: is a person that singlehandedly start his/her own business with initiative and insight of growing this business using the skills, talents and ideas acquired. This individual prefers to be self-employed rather than be employed; he/she handles the risk of the business and also enjoys the profit generated from this same business.

Entrepreneurship: the ability to start up, develop, organise and manage a business venture been fully aware of its risks and challenges and also its profits and gains. Education: it is the process of going through trainings, acquiring knowledge, giving or receiving systematic information in order to facilitate learning and also the ability to put into practise what has been learnt. It is the act of acquiring knowledge whether formally or at informally hereby leading to a change in behaviour which enables one to fit properly into the society large.

Entrepreneurship education: this is a programme or course offered by all final year students of Babcock University which seeks to provide students with necessary information, insights and ideas on how to start, develop, organise and manage a business of their own. It deals with creativity.

Employability: It involves essential skills and abilities that enables one to be gainfully employed into the various employment opportunities thereby reducing the unemployment rate in the country.

Unemployment: it is an economic situation in which individuals that are willing and able to work, are not presently working because they could not get gainfully employment

Entrepreneurship skills: these are the necessary set of skills required to be possessed by an entrepreneur in order to run a business successfully

Self employment: this is when an individual takes up the risk of starting; managing, directing and organising his/her own business with the purpose of increasing the economic growth and also to maximize profit.

DESIGN AND CONSTRUCTION OF A SOLAR POWERED TRICYCLE

DESIGN AND CONSTRUCTION OF A SOLAR POWERED TRICYCLE

Background of the study

This project is to improve and develop the significance of solar energy in automobile. A method of upgrading the conventional tricycle that uses petroleum as a means of energy to Solar-Powered Electrical tricycle that is powered by an electric motor which gets its supply from photovoltaic (PV) panels. The PV panels must be mounted and installed on the tricycle without compromising riding comfortability. The method employs an electric motor that are easily connected and separated for ease of transport. The solar panel is connected to the charge controller and then connected to the batteries for collecting solar energy and converting it to electrical for recharging. The batteries are now connected to the DC motor for providing electrical power to drive the tricycle.  This project is to improve and develop the significance of solar energy in automobile.

            This project is a combination of technology used typically in automobile industries, solar industries and electrical industries. Therefore, this design of solar powered tricycle have been built for the purpose of solar tricycle only.

1.2       Aim

The aim of this project is to design and construct a solar powered tricycle.

1.3       Project objectives

The objectives of this project are:

To design and construct a solar powered tricycle To develop a tricycle that use renewable energy, enviromentally friendly and cheap.

1.4       Scope of project

The scope of this project is limited to the design and construction of a solar powered tricycle that is powered by an electric motor which gets its power from photo voltaic (PV) panel and uses solar energy and to convert the solar energy to the electrical energy by using solar cells, then converting this electrical energy to mechanical energy by using DC motor to run tricycle.

EFFECTS OF TAX EVASION AND AVOIDANCE ON ECONOMY OF NIGERIA

EFFECTS OF TAX EVASION AND AVOIDANCE ON ECONOMY OF NIGERIA (A Case Study of Lagos State Internal Revenue Service)

Nigeria is richly blessed with oil and gas among other mineral resources, but the over dependence on oil revenue for the economic development of the country has left much to be deserved. According to Ariyo (1997) Nigeria's over dependence on oil revenue to the total neglect of other revenue source was encouraged by the oil boom of 1973/74. This is unsustainable due to the fluctuation in the oil market which have in most cases plunged the nation into deficit budgets. It was the view of Popoola (2009) that Nigerian tax administration and practice be structured towards economic goal achievement since government budget for the year centres on the oil sector. While decrying the low productivity of the Nigerian tax system, "deficiencies in the tax administration and collection system, complex legislations and apathy on the part of those outside the tax net" were identified as some of the root causes says Ijewere 1991 and Ndekwu 1991 as cited in (Ariyo 1997). Those working in the informal sector of Nigerian economy do not see the need to pay tax whereas they dominate the economy. To them only, civil servants should pay tax on their earnings and this amount to over flogging the willing horse. Besides, the activities of the strong union in the formal sector do not even pave way for a successful tax policy implementation in the formal sector (Ayodele 2006). Even revenue collection officers seem to be lenient or even connive with those in the informal sector during enforcement of tax policies. All this leads to revenue loss. In other to reawaken the consciousness of Nigerian government and citizens on the effective use of taxation as a developmental tool, and examine the effect the tax system have so far on the economy; this research work becomes very relevant. There is no doubt that taxation must have affected the economic development of Nigeria. Effort shall therefore be made in this research to see how much Nigeria have been able to achieve her economic goals with her tax policies and administration. The administrative role of the Federal, state and local government shall as well be examined in other to identify the causes of tax evasion and avoidance.

1.2   STATEMENT OF THE PROBLEM:

The first need of any modern government is to generate enough revenue which is indeed lithe breath of its nostril". Thus taxation is by far the most significant source of revenue for the government. Nigerians regard payment of tax as a means whereby government raises revenue on herself at the expense of their sweat. The issue of Tax evasion and avoidance and its effect on the Nigerian economy and revenue generation has lately drawn concerns to many Nigerian. In an attempt to find out how taxation can be used to boost revenue generation or revive the Nigerian economy, tax evasion and avoidance were noted to be on the increase in the Nigerian economy. Tax avoidance and tax evasion are sensitive issues in taxation therefore making the study a very sensitive one too.

Therefore the above mention problems motivated the researchers to carry a research work on the effects of tax evasion and avoidance on Nigeria economy.

1.3     RESEARCH QUESTIONS

The following research questions were formulated by the researcher in order to arrive at reliable conclusion and provide solutions to the problems of tax administration, tax evasion and avoidance in Nigeria.

i.        Does tax evasion and avoidance really affect the revenue growth of the government?

ii.      What management and organizational approach will decrease tax evasion level and increase administration autonomy?

iii.    Is there any relationship between tax administrators and tax payers, what influencing factors could produce a high level of tax evasion?

iv.      To what extent does tax evasion and avoidance affect Nigeria economy?

1.4     OBJECTIVES OF THE STUDY

The general objective of this study is to assess the effect of Tax evasion and avoidance on the Nigerian economy, its role in expanding the revenue base of the government and the overall economic development of the country.

Therefore, the objective of this study is to show:

i.        To examine how effective the tax administration machinery is, in reducing tax evasion and avoidance

ii.       To determine to what extent tax evasion and avoidance affect government revenue especially in Lagos State.

iii.      To know the extent to which tax evasion and avoidance affect Nigeria economy?

iv.      To examines how the problem of evasion and avoidance in Nigeria could be solved.

1.5,     RESEARCH HYPOTHESES

Hypothesis one

Ho:    Tax evasion does not affect Revenue growth in Lagos State Government.

Hi:     Tax evasion does affect Revenue growth in Lagos State Government.

Hypothesis two

Ho:    Tax Administration is not responsible for the tax evasion and avoidance in Lagos State.

Hi:     Tax Administration is responsible for the tax evasion and avoidance in Lagos State.

1.6     SIGNIFICANCE OF STUDY

The relevance of this study can first be appraised in the light of its usefulness to the Nigerian nation as a whole.

This study, among other things, will expose the effect of tax evasion and avoidance on government revenue and economic growth. Concern over the economy wide effect of Tax is important because of the possibility that the tax evasion and avoidance may cause government to cut some expenditure of certain essential services, hence affecting government effectiveness and efficiency.

Essentially, this research work is intended to expose the role of Taxation in the economic development of Nigeria, the knowledge of which therefore makes the research important to policy makers, the Lagos State Internal Revenue Service (LIRS), Tax administrator, students as well as the general public who may require information about Taxation and its performance.

1.7     SCOPE OF THE STUDY

This research work covered the effect Tax evasion and avoidance on the Nigerian economy, its role in expanding the revenue base of the government and the overall economic development of the country using Lagos internal Revenue Service as A case study.

1.8      LIMITATION OF THE STUDY

Among the factors limiting and constraining the scope of this study are:­

The inadequacy of data and relevant literature on the subject; Insufficient financial resources;

iii.      The poor response to questionnaires by respondents and sometimes-outright refusal;

There is also the issue of lack of time to carry out a more in-depth study.

However, since these factors were foreseen, proper care was taken in constructing the questionnaires so that the questions asked were not so exact or direct is warrant reluctance in their response.

Also, all efforts were made to ensure that correct information was gathered and adequate provisions were made for errors so that the authenticity and credibility of the research finding are not several affected.

EFFECTIVE MARKET CAPITALIZATION AND THE NIGERIA STOCK MARKET GROWTH

EFFECTIVE MARKET CAPITALIZATION AND THE NIGERIA STOCK MARKET GROWTH

ABSTRACT  

The capital market is one the compartment of financial system that promote savings and investment in an economy, by providing the means of gathering saving and making them available to borrower.

The aim of this research work is to examine the effective market capitalization and the Nigeria stock market growth between the periods of 1983-2010. The data used for the research work were both secondary and primary data. Secondary data was gathered from Nigeria stock market between on various issues between the periods of 1983-2010 while the primary data was source through questionnaire given to some selected staff of stock exchange market.

The analysis of data collected was base on the Ordinary Least Square the method which was used to test hypothesis one (effective capitalization and Nigeria stock market growth).  Chi- square was used to test hypothesis two (registered small and medium scale is better than unregistered ones base on the questionnaire administered. The empirical results revealed that effective market capitalization enhanced the Nigeria stock market growth and registered small and medium scale enterprises is better off than unregistered one in term in an effective market environment.

1.1   BACKGROUND TO THE STUDY

The capital market is one of the compartments financial system that promotes savings and investment in an economy, by providing the means of gathering savings and making them available to borrowers. The other compartment of the financial system is the money market, which is being controlled by the Central Bank of Nigeria (CBN).

The stock Exchange is one of the key institutions of the capital market, it is a network of individuals, institutions and instruments involved in the efficient channeling or funds from the surplus to the deficit economic units (Alile, 1999).

Stock Exchange is any things at the same time. It is a place where securities such as bonds, stocks and shares of different shades and types are traded openly, and where one can purchase or sell any of such securities relatively easily.

As Alile (1986), aptly puts securities as paper evidence of ownership or entitlement to a claim upon the assets of the issuing organization, which may be a business firm, Government or quasi-government organization. It is sufficient to note that some documentary or paper evidence has no fixed value attached to them but they are tested on the stock exchange market at rates or value, which are subjective and determined by the buyers and sellers of such securities.

Anao (1970) described stock exchange as an economic institution, which sees to the diverse uses in economy. In fact, to an ordinary investor, it is a place where quick money can be made or loss occurred. It presents an idea setting for the smart and daring speculator to make a fortune with relatively little effort, in terms of contributing anything of substance to national output, and the unwary can lose a fortune through false judgment.

The stock exchange plays a central and indispensable role for which it has been variously described as the HALLMARK or HEART of the capital market. This is because, even though, in its definition, the stock exchange is a market for trading on outstanding issues (shares/stocks). Alile (1999) observed that the opportunity which it offers for subsequent trading in existing securities, has made it a decisive factor in the success or otherwise of many corporate issues and extension, the efficiency of capital information in an economy.

Under a free enterprises system, which we operate in Nigeria, the stock exchange is an important art in the economics life of the nation. Through its functions, it enables government and industries to raise long­ term capital to finance developmental projects, for expansion and modernization of industrial/commercial concerns. An efficient stock market mobilizes savings and allocates a greater proportion to those companies with the highest prospective rates of returns after giving allowance for risk. Thus, this study is aimed at evaluating the effect of the Nigerian stock market on the economic growth (Alile 1999).

1.2    STATEMENT OF PROBLEM

The question whether a market is precisely efficient or not, cannot be adequately answered because there are some issues to be addressed. Given the roles the capital market has played during the privatization or public owned enterprises, recent recapitalization or stock exchange market and avenue of long term funds to various government and corporations in Nigeria. To some scholar and researchers have argued that market recapitalization has not really contributed to the growth of the Nigeria stock exchange while other hold contrary view and that registered small and medium scale enterprise on the Nigeria Stock Exchange market are better off than unregistered ones in term of performance in an effective market environment. The objective or this research work is to find out whether the effective market capitalization contributed to the growth of the Nigeria stock exchange between the period of 1983 and 2009.

1.3    RESEARCH QUESTIONS

To achieve a reliable result that can be used to solved the problem under investigation.

i.        Does effective capitalization really contributed to the growth of the Nigeria stock exchange?

ii.       What are the challenges of facing effective capitalization in Nigeria stock market exchange?

iii.      To what extent capitalization of Nigeria stock exchange market contributed in the business performance?

iv.      Does registered small and medium scale enterprises better than unregistered small and medium enterprises?

1.4    OBJECTIVES OF THE STUDY

The main objectives of this study effective market capitalization and the growth of the Nigeria stock exchange.

The specific objectives are:

1.       To determine the efficient and effective of market capitalization.

ii.       To exam me to what extent market capitalization contributed to Nigeria stock exchange.

iii.      To examine the challenges of Nigeria stock exchange and market capitalization.

iv.      To investigate the performance of registered and unregistered small and medium scale enterprises in and effective market environment.

1.5    RESEARCH HYPOTHESES

The following hypotheses will be formed in the basis of

Hypothesis one

Ho:    There is no significant relationship between effective market capitalization and the growth of the Nigeria stock exchange.

Hi:     There is a significant relationship between effective market capitalization and the growth of the Nigeria stock exchange.

Hypothesis two

Ho:    Registered small and medium scale enterprises on the Nigerian Stock Exchange market are not better off than the unregistered small and medium scale enterprises in terms of performance in an effect market environment.

Hi:     Registered small and medium scale enterprises on the Nigerian Stock Exchange market are better off than the unregistered small and medium scale enterprises in terms or performance in an effect market environment.

1.6    SIGNIFICANCE OF STUDY

The stock exchange plays a relevant role in the economy by mobilizing funds from those, who have surplus to those, who need these funds for development of project (Ndi Okercke 2000). She observed that enhancement, assistance and development of the stock exchange activities would go a long way to provide overall improvement of the Nigerian economy.

It is hoped therefore that the findings of this study serve as a useful guide to parishioners and to anyone else associated directly or indirectly with the securities market.

Furthermore, the study is deemed significant because it will provide insight into how investors can be attracted and stimulate the growth of the nation's economy.

Finally, it is hoped that findings from this study will contribute to the body of knowledge and stimulate more research interest.

1.7 SCOPE OF THE STUDY

The study is about the stock market and how effective it is in setting prices, which reflect the worth of the securities, traded in the market. The relevance of the Nigerian Stock Exchange to Nigeria's economic growth and development will also be viewed. It also covers the performance evaluation criteria; the general issues and involved that can be relevant to any organized security market, both locally and internationally. Also the research work only examined a time series data for a period of twenty eighty years covering 1983 to 2010 for all relevant variables being studied.

1.8     LIMITATION OF THE STUDY

It would be fallacious to claim that the research was constrained free. The research project was limited due to several constraint; chief amongst which are:

i.        Time Factor: The time duration was not enough to collect and collate more  studies on the topic for evaluation so as to give more information on the topic.

ii.     Financial Constraint: The high cost of materials restrained the researcher from testing more models which will further enhanced the result to be derived from the study.

iii. Information: Another limitation faced by the researcher is the sensitivity of certain data required for the purpose of this research. As such, this led to the dearth of relevant statistical information.

1.9    ORGANIZATION OF THE STUDY

This research work is divided into five chapters.  Chapter one, this is the introductory part which encompasses the introduction ,research problems, research questions, Objectives of the study statement of hypothesis .significance of the study, scope and limitation of the study, organization of the study. Chapter two, this chapter focuses on the literature review on the subject matter .Chapter three, this chapter shall give to the structural composition on the historical background of the petroleum industry in Nigeria. Chapter four examines the data analysis and interpretation.  Chapter five shall give to the summary, recommendation and conclusion.

1.10 DEFINITION OF TERM

For the simplicity of the study to a layman, the following will be defined in the context in which they are used this research project.

Share: Each of the equal parts into which company's capital is divided, entitling its owners to a proportion in this research project.

Value: An estimate of worth.

Worth: The best valuation of share in relation to available information.

Direct evidence: Evidence relating to the market efficiency with focuses on the market's speed and quality of response to specific information items.

Security market line: A line indicating the trade off of risk and return for individual assets.

Technical analysis: The analysis of past security price movement as a method of predicting future price movement.

Intrinsic worth: The best estimate or a security's value in relation to the total set of information available.

Market portfolio: The portfolio of all marketable risky assets in the world in their value-related proportion.

Systematic risk: Risk that cannot be diversified away.

Financial sector: This is a segment of the economy, which comprises of financial intermediaries, financial instruments, and laws regulating the activities of the segment.

Second hand securities: These are instruments traded on the stock market but which had originally been purchased from issuer i.e. companies.

Semi-Strong Efficiency: The market is efficient at the semi-strong level or security price adjust rapidly and without bias to all public information.