Table of Contents

Deficit in Housing Stock in Nigeria – Way Forward

Nwabuna, Nwokedi P. and Emeka Okorie                                                                               1 – 9

Overcoming the Challenges of Residential Property Development in the

Developing State Capitals of Nigeria – A Case Study of Damaturu, Yobe State.

Olatunde, B. Zakariyyah and Busari, M. Adeyemi                                                                   10 – 17

The Challenges of Providing Quality Financial Reporting in a Fraudulent

and Corrupt Environment

Ayodeji Lasunkanmi Adeniyi                                                                                                   18 – 36

Equipment Leasing: A Facet of Corporate Financing Strategy

Alexander Olawumi Dabor and Ayodeji Lasunkanmi Adeniyi                                                            37 – 45

A Review on the Security Challenges in Northern Nigeria and its

Implications for Business Survival and Sustainable Development

Ibrahim Abubakar Mikugi and Azubuike Aham Samuel                                                         46 – 54

A Review on the Security Challenges in Northern Nigeria and its Implications for Business Survival and Sustainable Development

IBRAHIM ABUBAKAR MIKUGI AND AZUBUIKE AHAM SAMUEL

Department of Business Administration and Management

The Federal Polytechnic, Bida, Niger State

E-mail-tatafoundation@hotmail.com

ABSTRACTNorthern Nigeria amongst other regions has witnessed high level of insecurity with its resultant effect on business survival and sustainable development. This has made national security threat to be a major issue for the government and has prompted huge allocation of the national budget to security. Security just like other elements in the business environment enhances and optimizes business activities but insecurity hinders these activities and so it constitutes a threat to business organizations and their survivals. This paper examined the insecurity in Northern Nigeria and its implication for business survival and sustainable development. The sources and causes of insecurity were examined through the methodology of evaluation using secondary data. The researcher presented attacks by Boko Haram in Northern Nigeria from 2009 to 2013. The paper further examined the conceptual perspective of insecurity, Business survival and Sustainable development and as well the functional areas of business that are likely to be affected as s result of insecurity. Detail analysis of the way- out to curb the effect of insecurity on business and to enhance sustainable development in Nigeria was outlined. Issues raised include provision of good leadership, good governance and value re-orientation. The paper concludes that insecurity poses a great threat to business organizations and its survival; hence this menace may affect the realization of becoming the 20 most developed countries by the year 2020. Recommendations were given which include the need for government to be more proactive in security management, intelligence gathering and surveillance. Business Organizations should be socially responsible and individuals need to be

Equipment Leasing: A Facet of Corporate Financing Strategy

¹ALEXANDER OLAWUMI DABOR AND ²AYODEJI LASUNKANMI ADENIYI

¹Accounting Department University of Benin

²Department of Accountancy Yaba College of Technology Yaba-Lagos, Nigeria

E-mail: aayoadeniyi@gmail.com

ABSTRACT

The study examines leasing as a facet of corporate financing strategy in Nigeria. Structured questionnaire was used to elicit responses from the field. The data generated were tested using the Z-test and ANOVA statistical tool. The analysis shows that there is a significant negative relationship between corporate performance and sale lease back. The result also reveals that it is cheaper to lease equipment than to purchase outrightly. Our findings further reveal that there is significant difference between the cost of obtaining loan from financial institution and cost of leasing equipment in Nigeria. We recommend that captain of industries in Nigeria should take advantage of leasing option in acquisition of equipment, and Nigeria government should also re-visit tax laws with regards to leasing as available financing option.   

The Challenges of Providing Quality Financial Reporting in a Fraudulent and Corrupt Environment 

AYODEJI LASUNKANMI ADENIYI

Yaba College of Technology 

Department of Accountancy. Yaba-Lagos, Nigeria.

E-mail: aayoadeniyi@gmail.com

Abstract

The study investigates the challenges of providing quality financial reporting in a fraudulent and corrupt environment through assessment of integrity and credibility of the financial statements as well as disclosure of accounting information. Presence of fraud and its effects on the performance of business organizations are equally appraised. The paper explores challenges of providing quality financial reporting in Nigeria from the perspective of company accountants using structured questionnaire. The sample was randomly drawn from the population of 68 company accountants from bank, insurance, manufacturing and construction industries in Lagos, the analysis of variance (ANOVA) statistical method at 95% confidence level was employed to analyze the data collected. The study indicates that disclosure of accounting information does not preclude existence of fraud from the financial statements. Whereas fraud adversely affects the quality of financial reporting, and consequently makes prospective stakeholders not to accept or buy shares of the reporting company.   However, the integrity and credibility of the financial statements preparers enhance on the quality of financial reporting. Thus, it is recommended that in addition to making adequate disclosures of accounting information, integrity and credibility of the financial statements preparers must be insisted upon in order to have a quality financial reporting so as to prevent financial bankruptcy in an average company in Nigeria.

Overcoming the Challenges of Residential Property Development in the Developing State Capitals of Nigeria – A Case Study of Damaturu, Yobe State.

OLATUNDE, B. ZAKARIYYAH AND BUSARI, M. ADEYEMI

Department of Estate Management, Federal Polytechnic, Damaturu, Yobe State

E-mail : zakariyyah1422@yahoo.com   

ABSTRACT

Revenue from property rating and other taxes goes a long way in aiding our developing states and national transformation, but the challenges of residential property/housing development demands attention. This study gives an overview of the challenges of residential property development in the developing state capitals of Nigeria, taking Damaturu, Yobe State as a case study. A stratified random sampling was carried out through structured questionnaires administered on private developers, estate surveyors and valuers, officials of State Ministry of Land and Survey and Ministry of Housing. The problems encountered include: high interest rate, short repayment period, bureaucracy in land acquisition, inadequate skilled labour and professionals and high cost of building materials. It is recommended that the existing laws should be modified to ease access to land, government should provide adequate roads and transportation system that checks cost of building materials, the government should encourage commercial activities and financial environments that ease access to property development fund through revitalization of National Housing Fund, Federal Mortgage Bank, and interest-free financing for real estate development. Finally, security of life and property encourages inflow of skilled labour, investment and development.

Deficit in Housing Stock in Nigeria – Way Forward

NWABUNA, NWOKEDI P. AND EMEKA OKORIE

Department of Architectural Technology

Akanu Ibiam Federal Polytechnic, Unwana– Afikpo Ebonyi State

E-mail: patrickdeclan99@gmail.com, emekaokorie2@yahoo.com

ABSTRACT

This paper aims at examining the possible ways through which Governments at all levels, corporate organizations and individuals can provide the much needed houses so as to bring the housing stock deficit to that level or position to impact positively on the welfare and productivity of the Nigerian people. The population of Nigeria keeps growing at an alarming growth rate per annum; in like manner the need for affordable houses keeps growing. In other words, population growth and housing needs go hand in hand. After food comes shelter in the order of the primary needs of man. It is in the interest of the governments, corporate organizations and individuals to apply concerted efforts to meet this growing demand for shelter; for not doing so will eventually create an emergency situation in the demand for houses to live in. The effect of this emergency can impact negatively on the productivity of the populace and again affect the gross domestic product of the nation. The efforts of governments towards bridging the deficit were analysed and the paper found that certain factors are still militating against these efforts. These factors are in the realm of what governments, corporate organizations or even individuals ought to have done or should be doing to see that the deficit in housing stock is reduced. It identifies some of these factors and at the end made recommendations towards bridging the deficit in Housing stock in Nigeria.