Industrial Development Banking in Nigeria: A Forty Year Failed Experiment
The first industrial development bank in Nigeria was established in 1964 as part of the First National Development Plan. Its original mandate was to provide medium- and long-term finance to privately owned enterprises in Nigeria. Forty years after its establishment (1964-2004) funding still remains the major obstacle to industrial development in Nigeria. This paper argues that the major problem for the bank was the government's inability to separate the affairs of the bank from politics.
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Volume (Year): 10 (2007)
Issue (Month): 3 ()
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