ENEMS MICROSYSTEMS RESEARCH SPOT: March 11

Showing posts with label March 11. Show all posts

Sunday, 12 March 2023

VALUATION FOR COMPENSATION IN NIGERIA

VALUATION FOR COMPENSATION IN NIGERIA

(A Case Study of 330KVA PHCN Power Line Project, Otukpo, Benue State)

ABSTRACT

This project work looks into the valuation for compensation in Nigeria, a case study of 330 KVA PHCN Power Line Project, Otukpo Benue state. State Government in Nigeria has the power of compulsory acquisition in their respect domain. The provision of the law is also that adequate compensation should be given to those affected by the acquisition. The question is whether the compensation being paid is adequate or not. This work is looking into the adequate of compensation in the acquisition of land for 330kva PHCN power line project, Otukpo. It will identify problems encountered in the process of acquisition and compensation and proffer solutions.

CHAPTER ONE

1.0 INTRODUCTION

Knowing what an asset is worth and what determines the value is a pre-requisite for intelligent decision in making an investment for a portfolio, in deciding on the appropriate price to pay (compensation) or receive in a takeover, and choosing financing and dividend choices when running a business. The premise of valuation is that, we can make reasonable estimates of value for most assets and that the same fundamental principles. The value of all types of assets, real as well as corporeal. Some assets are easier to value than others, the details of valuation vary from asset to asset and the uncertainty associated with value estimates is different for different assets, but the core principles remain the same.

This introduction lays out some general insights about the valuation and compensation process and outlines the role that valuation plays in portfolio management, acquisition analysis and in corporate finance. It also examines the three basic approaches that can be used to value an asset (Kalulu and Byrne, 2009). There is no land without owner; the ownership may be individual, corporate, communal or national. Everything depends on land, houses are built on land, food comes from land, and the ultimate relationship between man and land is that man’s remains are committed to land after death. Hence, life basic needs are expressed to be food; clothing and shelter are entirely derived from land. Statutory definitions of land in Nigeria include the followings:

Land includes ‘’land and everything attached to the earth and all chattels real’’, further, land includes land of any tenure, building or any parts of building whether the division is horizontal, vertical or made in any other way. Furthermore, the word land is a species of property (Obaseki, 1989). Property has been defined to mean ownership or title of a valuable asset and sometimes the right over which ownership may be exercised. The land comprised in the territory of each state of the federation is the right over which the governor exercised ownership in trust in accordance with section (1) of the land use Act of 1978. It is an immovable property. The land use decree was promulgated on 29th march 1978, following the recommendations of a minority report of a panel appointed by the federal military government of the time to advice on future land policy in each state of the federation.

The decree distinguishes throughout between urban and rural land. In urban areas valuation for compensation is higher compared to rural areas. While in rural, the land use decree fall under the appropriate local government. Land use and allocation committees appointed for each state by the governor were to be advised on the administration of land in urban areas while, land allocation advisory committees were to exercise equivalent functions with regards to rural land.

This project focuses on the provision of the Act, section 28 and section 29 relating to valuation for compensation and acquisition.

1.1 AIM AND OBJECTIVES OF THE STUDY

The aim of this research is to examine the basis of valuation for compensation in Nigeria with reference to 330KVA, PHCN power line project, Otukpo Benue state. However, the following objectives are critical to achieve the aim of this project;

(i) To know the approaches in place and effectively implemented to ensure that communities and people are placed in at equivalent position to compensate those, before the land acquisition.

(ii) To examine the stand of the Act as regards valuation for compensation, and arriving at adequate compensation.

(iii) To make case for adequate compensation.

1.2 STATEMENT OF THE RESEARCH PROBLEM

The problems of valuation for compensation in Nigeria remain unaltered or unchanged if not even compounded by the day because of inadequate measures being taken by the respective organization or authorities to solve these problems. Lack of standard structure by the government to manage compensation in areas acquired for federal projects is alarming inadequacy of competent valuers, surveyors, managers etc. And also lack of genuine and original values of building, farm, land, and reserved areas both private and public buildings.

1.3 BACKGROUND OF THE STUDY

Valuation for compensation in Nigeria is very much prone to challenges as a result of lack of funds. With this, the attitude of average Nigerian valuers towards property valuation is not encouraging.

In an area of depressed economy like Nigeria, coupled with the dramatic decrease in private and public property, valuation is continuously neglected (Olateju, 1990).

The essence of this project writing on valuation for compensation in Nigeria to make detailed survey and plan for the subject property aimed at bettering the condition for valuation of the same. Also to observe, identify the problems and give advice for the proper execution of valuation for compensation anywhere strictly on professional terms. Landed properties generally has been considered as a major issue by both the public and private sectors because of the central position it occupies in the socio-economic development of projects e.g.330KVA, PHCN power line project in the area of case study.

Landed property is generally regarded as a basic human need as it ranks next to food and clothing. Housing, farm land and other land properties are not only a structure but also part of fabric of neighborhood life (Encarta, 2007). For a long time, there has been a miss-conception that the provision of compensation is a social science by either government or private organization. Notwithstanding, good valuation for compensation promotes efficiency of project in the area acquired for project development, contribute to improvements in national productivity improved valuation for compensation for the citizens of any nation contributes greatly to social stability in the society, so also do compensation provide property owners an enhanced comfort and social values in human settlement (Lee, 1976).

1.4 SIGNIFICANCE OF THE STUDY

The relevance of the study is purely on academics and designed to achieve the partial fulfillment of the award of National Diploma in Estate Management, Federal Polytechnic Nasarawa. It will also be importance to the school who may find the report as an important tool in carrying out routine valuation for compensation in the surrounding of expansion is required by the school. It will help to know how to carry out valuation reports and compensation reports in the field of estate surveying and valuation profession.

Finally, the federal polytechnic Nasarawa will find it useful as an additional literature in related books in its libraries and also a further guide for future students in research related subjects.

1.5 SCOPE AND LIMITATION OF THE STUDY

The scope of this research is the adequacy of compensation on the acquisition of properties for the 330KVA, PHCN power line. It is clear that the study will not discuss all but rather be restricted to the valuation for compensation in other to reveal the level, adequacy, justness and equity.

The scope is limited to the power line valuation for compensation 330KVA, PHCN power line project, Otukpo Benue state.

SELLING AND DISTRIBUTION STRATEGIES OF A PRODUCT

SELLING AND DISTRIBUTION STRATEGIES OF A PRODUCT

(A case study of Dangote Flour Mill Abuja)

ABSTRACT

The objective of this project work is to highlight the implication of selling and distribution strategies to a product. This study is significant because, it will help in solving the statement problem of selling and distribution strategies of a product. A view of relevant literature done by other writes on this subjected will be carried out by the researcher. Its objectives in selling and distribution strategies of a product are to have positive satisfaction from consumers and to gain the highest market share in a competitive marketing environment. The study aimed at identifying the strategies of selling and distribution of a product in competitive product with the view to avoid new product failure.

CHAPTER ONE

INTRODUCTION

1.0 INTRODUCTION

A firm’s selling and distribution on strategy is a major concern for any company that depends on a product for its profit. That product must somehow get from the source of production, such as factory to the place where the consumer can buy it. The process by which this happens is called distribution.

A distribution network is established by answering the question of who, what, when, where and how in terms of getting products to their end point. Business operator must discern who is responsible for sending and receiving the product and who will transport it.

They must also decide what product are transported to which outlet and whether there are different distribution strategies for different product lines.

Someone must schedule when items will be sent from work to market, department. In this case it is very vital to involve constant philosophy for selling and distribution of products as a means to achieve the objectives of the organization. This is because many business of the organizations believed that the key to making profit is to have a special skill of penetrating the prospectors mind to know further what goes on therefore a company to be of a serious relevance in the marketing arena.

In this case Dangote Flour Mills needs to embrace this selling and distribution strategy as to enjoy the benefit of adoption.

1.1 HISTORICAL BACKGROUND OF THE CASE STUDY

Dangote group of company was founded by Alhaji Alico Dangote in May, 1981 as a trading business with a sum of 500,000 loan reporting from his maternal ground father Alhaji Dantata.

The loan which was expected to be paid back in three years was paid within three months, since then there has been no stopping to become the biggest player in flour production in the industry. Yet flour production is just a function of investment of Dangote Group. The group has other subsidiary company such as a cement production factory, sugar refinery factory etc.

What is known today as Dangote Flour Mill Company is the one on the key thrusts of the economic reform policy of the present administration is backward integration which could also be referred to as “thick-home philosophy” it is against this bedrock group that the giant strides made by Dangote Group in the area of manufacturing particularly would appreciate in the area of manufacturing and the production of flour. Dangote group having proved to be one of the fastest grouping conglomeration in Nigeria, has carved a niche for itself a law to remain a prominent corporation player in stimulating national growth through the application of liaisons of the present administrations economic perform policies.

Propelled by its corporate visions of being a trading provider of man’s essential needs of food and clothing, Dangote Group are into flour production, salt processing, sugar refinery, cement bagging among others.

In the area of flour milling, Dangote group has established three mills located at Lagos, Kano and Abuja. They have a cumulative annual production capacity of one million metric ton, meanwhile, the increasing demand of the Kano mill and the establishment of a new mill in Ilorin with completion of these products, the total production capacity of the mills will come up to 1.4 million metric tons.

1.2 STATEMENTS OF THE PROBLEMS

It is a fact that no firm can serve customers with all their needs and wants, this being the case, firm is faced with the problems of

Considering the problem facing the area of selling and distribution strategies of product with the view of its impacts on the company’s products.
To gather opinion from group of people, the company’s operation on how bets company’s operations with a view of offering useful suggestion on how best company can effectively market it’s products to the general public.
To widen the knowledge of the researcher by blending the critical aspect of the study obtained in the company and how selling and distribution is being carried out. When it confirms with the modern day selling and distribution strategy of products.

1.3 OBJECTIVES OF THE STUDY

The general objective of this project work is to identify the relevance of selling and distribution strategy, which is a pre-requisite to the award of National Diploma in Marketing.

1.4 SCOPE OF THE STUDY

This research work is carried out to find out how effective selling and distribution strategies of a product is used in the overall strategic planning of an organization and how it has improved status of the company but due to financial constraints, the researcher limit herself to Dangote Flour Mill as the case study of this research work.

1.5 STATEMENT OF HYPOTHESIS

The hypothesis serves as a guide towards the aim and objectives of this work. The research has this basic factor which will put to test. The fact shall be donated by

H_o: Selling and distribution strategy have no impact in the organization.

H_i: Selling and distribution strategy have impact in the organization.

1.6 SIGNIFICANCE OF THE STUDY

This topic seems to be of relevance to marketers, organizations, students and individuals. The research work would benefit prospective readers and future researcher as who may wish to use this as reference point in understanding selling and distribution strategies of a product.

The research work also is of benefit to organizations because understanding selling and distribution strategy of a product contributes to the entire planning process.

1.7 LIMITATION OF THE STUDY

In carrying out this research it was not easy in terms of finance. Cost of project material, cost of transportation and the necessary information one requires. These research materials were not easy to come by.

1.8 DEFINITION OF THE KEY TERMS

Selling: According to Philip Kotler (2002) sees selling in different ways, first it that they constitute industry, the selling send goods and services, communication to the market for exchange of money.
Distribution: According to M.C. Carthy E.J (2005) says distribution consist of a very attempt involve in the transfer of goods and services from the producer or manufacturer to the final consumer.
Whole sellers: According to Hanza G. (2003) sees wholesaler as a firm or person that sell in small quantity to the retailer or final consumers.
Strategies and channel of distribution: According to M.C. Carthy (1995) sees strategic and channel of distribution as the distribution channel in which the goods get to the final consumer, distributors to the consumers.
Production: According to Philip Kotler (2005) production is the creation of and satisfaction of wants that can be paid for.
Price culture: According to Peterson (2005) sees price culture as the process of fixing the appropriate price of goods and services which consumer can afford. Thus serving as a means of protection of the consumer right.
Service: According to Philip Kotler (2004) sees service as identifiable activities that are the main object of a satisfaction to consumers.
Consumer market: According to Amechi (2004) sees consumer market as a type of market where the buyers procure goods and services for immediate consumptions without any thought of processing them for further production.

EFFECT OF MOTIVATION ON THE PRODUCTIVITY OF EMPLOYEES IN THE HIGHER INSTITUTION OF LEARNING

EFFECT OF MOTIVATION ON THE PRODUCTIVITY OF EMPLOYEES IN THE HIGHER INSTITUTION OF LEARNING

(A case study of School of Business Studies Federal Polytechnic Nasarawa)

ABSTRACT

This project work explores the effect of motivation on the productivity of employees in the higher institution of learning. The study is to ascertain the motivational activities of Federal Polytechnic Nasarawa, the application of the motivational techniques by School of Business Studies Federal Polytechnic Nasarawa and to know the problems inhibiting the success of the employees’ motivation in the institution. The researcher used both primary and secondary source to collect data, questionnaire and personal interviews were used in getting some relevant data that can be of help during the course of the research. Chi-square method was adopted in analyzing the data collected, the researcher also present the data in a tabular form and test the hypothesis. The result of this study has shown that staff can be motivated to boast their productivity financially, through training and promotion, the institution provides staff welfare such as transportation and accommodation and motivation serves as a solution provider for some of the institutional problems such as low productivity. It was recommended that the institution should continuously embark on recruitment and training of staff in response to their needs and management of the institution should consider the employment of more female staff since naturally, it will serve as motivation for the male counterpart in interacting with opposite sex, producing social liveliness that also encourage efficiency and effectiveness in an institution.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Motivation is concerned with why people do what they do. It answers such questions as why do managers or workers go to work and do a good job. This tries to explain what motivates people to act the way they do, with primary focus on the work place. It is the primary task of the manager to create and maintain an environment in which employees can work efficiently to realize the objectives of the institution.

Employees differ not only in their ability to work but also in their will to do so (motivation). To motivate is to induce, persuade, stimulate, even compel, an employee to act in a manner which fulfills the objectives of an institution. The motivation of employees depends on the strength of their motives. Motives are needs, wants, drives, or impulses within the individual, and these determine human behaviour.

Motivation then is the process of:

Arousing behaviour
Sustaining behaviour in progress, and
Channeling behaviour into a specific course of action.

Thus, motives (needs, desires) induce employees to act. Motivation, therefore, is the inner state that energies, channels, and sustains human behaviour.
Since it has been established that all behaviour except involving responses are goals directed, manager can apply motivational theories of management in their attempt to direct the job behaviour of employees towards the goal of their establishment.

Inyang (1995) defined productivity as the output and input ratio within a given time frame and with special attention to quality and the efficient use of resources. The National Productivity Centre in the information booklet defines productivity as doing the right things the right way, getting more output within less input, getting more output with the same input, punctuality and promptness, elimination of wastes in all forms, justifying your pay, improvement in all aspects of life, producing more and more of better quality. The summary of all definitions of productivity is the balance between all factors of production that will give the greatest returns for the smallest efforts.

1.2 STATEMENT OF THE PROBLEM

Workers leave institution due to the fact that they are not motivated enough. Some are not willing to leave because they are enjoying some benefit in terms of promotion which leads to increase in salaries and wages, bonuses and some other incentives.

Institution must improve the work performance, productivity, skills and ability of its employees. This study seeks to fashion out how to motivate workers to achieving higher productivity.

1.3 OBJECTIVES OF THE STUDY

The study is to ascertain the motivational activities of School of Business Studies Federal Polytechnic Nasarawa

To ascertain the application of the motivational techniques by Federal Polytechnic Nasarawa.
To know the problem inhibiting the success of the employees’ motivation in School of Business Studies Federal Polytechnic Nasarawa.
To know the response of the employees to motivational techniques adopted by School of Business Studies Federal Polytechnic Nasarawa.
To provide solutions and recommendations where necessary on the best and effective motivational techniques used in School of Business Studies Federal Polytechnic Nasarawa.

1.4 SIGNIFICANCE OF THE STUDY

The significance of this study cannot be over-emphasized. It will be based on the examination of the motivation practice in Federal Polytechnic Nasarawa, and to know the extent to which it is being carried out, the effects on the workers, the institution and the country at large. More so, to acquaint the various managers and different categories of employees to the need to embrace motivation which will go a long way in achieving higher productivity.

Besides, those students in the field of administration will find it educative, interesting and challenging in that, the various activities and techniques of motivation are revealed and logically analyzed.

Lastly, this project will be of value to those who may want to carry out similar research in the nearest future.

1.5 RESEARCH QUESTIONS

Some of the research questions are:

To what extent does the personnel policy implemented by School of Business Studies Federal Polytechnic Nasarawa affect your productivity?
How often does School of Business Studies Federal Polytechnic Nasarawa embark on staff training and development?
Does School of Business Studies Federal Polytechnic Nasarawa clearly/respect staff union position of its employees?
Are there differences in the way staff and workers are treated in School of Business Studies Federal Polytechnic Nasarawa?
Is joint consultation practiced positively, as a method of obtaining employees views on problems and proposed charges before final decisions are taken?

1.6 RESEARCH HYPOTHESES

The research hypotheses are:

Hypothesis I:

H_O (Null Hypothesis): The more effective motivation, the less morale of employees.

H_I (Alternative Hypothesis): The more motivation, the more morale of employees.

Hypothesis II:

H_O (Null Hypothesis): Adoption of motivational techniques will automatically decrease the workers’ productivity.

H_I (Alternative Hypothesis): Adoption of motivational techniques will automatically increase the workers’ productivity.

1.7 SCOPE AND LIMITATIONS OF THE STUDY

This project covers the aspect of motivation in persuading, stimulating and compelling an employee to act in a manner which fulfills the objectives of the organization.

One cannot but say that data collection is the most tedious of writing the project.

Another limitation is that the researcher being a student who has to read other courses as well as to take normal lectures during the period of the research may be limited by time given for the study being too short.

Lastly, the fund constraint in carrying out this research project, the cost of getting materials and information as well as their adequacies will also constitute the limitation of the study.

1.8 DEFINITION OF TERMS

Motivation: This is the process of arousing behaviour, sustaining behaviour in progress, and channeling behaviour into a specific course of action.
Management: This is the process of getting things done through people. It involves planning, organizing, staff, directing, coordinating and controlling both human and material resources for the purpose of achieving a set goal.
Responsibility: This is the subordinate’s obligation to perform a duty which has been assigned to him.

Leadership: Is a process of using non-coercive influence to direct and coordinate the activities of group members towards goals’ accomplishment.

Manager: Is one who performs the functions of management (planning, organizing, staffing, etc.) and occupiers a formal position in an organization.
Organization: This has to do with determination and provision of capital, material, equipment and personnel that may be required in an enterprise in order to achieve the set goals.

Organizational Structure: This is the established pattern of relationships among the components of the organization.

Organizational Chart: It is a diagram that shows the arrangement, positions and interrelationship of various component parts of company.
Employee: This is a person who is paid to work for an organization or business enterprise.

Behaviour: Is the manner that someone, an animal, a plant etc. do things in a particular way.

Department: Any of the division or unit of a government, business, school or college and so on.

Employees’ Services: This is the maintaining of the general welfare of employees on the job and assisting with problems related to their security and personal wellbeing e.g. medical services and insurance protection.
REFERENCES

Ajayi Nelson (1991): Managerial Planning and Control, Ibadan: U.I. Press Limited.

Akintunde, A.D. (2005): How to Motivate Workers to Achieve Higher Productivity, Unpublished ND Business Studies Polytechnic Ibadan, Oyo State.

Donely Gibson (1984): Fundamental of Management Plan, New York: Texas Business Company.

AN ASSESSMENT OF THE ACCESSIBILITY OF HOUSING AND FACILITIES IN THE URBAN-RURAL FRINGES OF NASARAWA

AN ASSESSMENT OF THE ACCESSIBILITY OF HOUSING AND FACILITIES IN THE URBAN-RURAL FRINGES OF NASARAWA

(A case study of Nasarawa Town)

ABSTRACT

Housing in the developing world and indeed the entire world, must be seen as a political and socio-economic problem rather than a technical one. So must be without exception, within the Nigeria context. It is an obvious fact that all sectors of the society have not been fully taken care of our urban housing policies and programme. However, this project is aimed at examining the assessment of the accessibility of housing and facilities in the urban/rural fringes of Nasarawa.

CHAPTER ONE

1.0 INTRODUCTION

In developing countries a substantial and growth proportion lives or around metropolitan area and megacities, including the zone termed the “Urban fringe” where their livelihood depend to some extent on resources such as land for food, water and fuel, zones are often overexploited. Although heterogeneous in its social composition, the urban fringe constitutes the habit of a diversity of populations, including lower income group who are particularly, vulnerable to negative externalities of both rural and urban systems. These include, risk to health, life and physical hazards related to the occupation of unsuitable sites, lack of access to clean water and basic sanitation and poor housing conditions, environmental changes also impinge upon the livelihood strategies of these communities by decreasing or increasing their access to different types of capital (Umeh 2010)

Nigeria has been experiencing a great transition from rural to Urban oriented economy, which has been accompanied by the increasing mobility of production factors such as capital, labour, technology and information to the Urban fringe near these cities such as Nasarawa, Lagos, Kano, Benin, Aba, Kaduna etc. consequently to the wide spread beliefs that Urban fringes are fashionable area in urban literature especially in developed countries (Dupont 2005). The UN-Habitat report (2005) has indicated that, in the year 2025, 16% of the 5 billion world population will be urban and most mega-cities will stand in what we call the “south cluster”. About 55% of these development will occur at the urban hinterland widely referred to as pen-urban, suburbs, urban fringe, city edge, metropolitan shadow amongst other. Because of proximity to the city, the zone experiences much of urbanization process and serves as buffer for future urban development.

There are forces that shape the urban fringe landscape. One prominent features in Nigeria, particularly Nasarawa is the informal sector activities and its attendant problems on urban fringe.

1.1 SCOPE OF THE STUDY

The significant role played by the housing in the life of an individual, a community or a nation brings to time the importance of management of such properties management has a very significant place in property investment hence there is a need for adequate provision to take care of management became a country that goes on building but does not effectively manage what it has built is quite simple making history and at the same time destroying it immediately. Thus, the research work intends to examine the accessibility culture of most owner of residential property in Nasarawa town which is one of the growing town in Nasarawa state.

1.2 PROBLEM STATEMENT

The urban fringe is often defined as a remote zone at the interface between urban and rural landscape. It is frequently ignored as a specific area within the study of urban housing. Recently, there has been an extra-ordinary revival of interest in urban fringe issues as a result of the exceptional evolution in urban growth. However, in spite of multitude of generalizations in urban theories, little is known on the housing quality of this area.

This research therefore is to examine the relationship between housing quality, information sectors and urban fringes. Social, economic and cultural characteristics as well as environmental issues associated with people living in this area to be examined so as to impact knowledge that can transform these areas. These because, it has been observed that little is known about the people living in the urban fringes of Nasarawa.

This study identify the urban fringe with a view to providing explanations on the housing quality of residential housing in urban fringe slum measured by environmental conditions in the town of Nasarawa- Nigeria.

This study seeks to fill the gap on the emerging socio-spatial by advances knowledge on the socio-economic of the residents of the urban fringe in developing countries using Nasarawa town as a case study.

1.3 AIM AND OBJECTIVES

The aim of this project is to examine the factors militating against effective housing quality in the urban fringes of Nasarawa town. To achieve this aim, the following objective shall be perused.

To identify the urban fringes in Nasarawa.
To examine the socio-economic characteristics of residents in Nasarawa town.
To examine the physical characteristics of residential in Nasarawa town.
To examine the solution to the identify problems.

1.4 METHODOLOGY

In order to reach the above mentioned objectives, the study will include a study intended to consolidate secondary data. The secondary data will include available land use maps of Nasarawa from previous publications and ministry of land to demarcate fringe areas of Nasarawa. The National Population Commission, NPC census figure will be used fo[r projecting population of the area and determination of sample size, official documents case studies of successful intervention and other relevant secondary literature.

In addition, this assessment will be based on existing information from reports, such as the most recent UN-HABITAT global report on human settlement and state of the world cities reports. The analysis draws on comparative evaluations on the topic carried out by major international organization such as UN-HABITAT.

Primary data relating to housing quality were obtained by means of structured questionnaires administered on a systematic sample size of 500 household heads in Doma Road at Lafia from a sampling frame of 5000 housing units. The primary data include five hundred household questionnaires; this will be used to elicit information on the socio-economic characteristics of respondents of the urban fringe, physical and neighbourhoods characteristics and housing quality in the selected local government metropolitan region in Nasarawa town.