DEVELOPMENT BANK PARTICIPATION IN INDUSTRIAL DEVELOPMENT OF NIGERIA

The participation of development bank participation in the industrial development of Nigeria cannot be overemphasized. Like in most other developing countries, the government is the main initiator of industrial development in Nigeria. It was in recognition of these facts that government has established many financial institutions to accelerate the rate of industrial development some of the institution are either wholly owned by the government while some are partially owned by the government. The concept and aim of development bank in Nigeria is to finance the activities of indigenous business enterprises by providing medium and long-term finance and equity funding for industrial project for more realistic growth of the country. The nature of above is concerned with how development bank earn render adequate finance and equity funding for industrial project of entrepreneurial skilled. In providing finance for feasible and viable project development bank suffer and encounter some difficulties which restricted the main aim and objective of their service. These are shortage of financial capital confidence in foreign investor (investment) and shortage of development bank in each federal state.