Plastic products such as disposable cups, plates, straw and others have become so important in human life that the demand have been on rapid increase.
The need for the disposal plastic products has gone beyond party applications to fast foods, restaurants and even homes and offices. The huge demand for these products, has called for increased supply.
It therefore implies that any investor into this line of business will not regret, but must do it professionally.
Against the back ground of the failure of the IMF/World Bank endorsed Structural Adjustment Programme (SAP) in Nigeria to appreciably redress the Nigerian deplorable socio-economic conditions, the IMF/World bank in collaboration with the Federal Ministry of Finance and the Central bank of Nigeria (CBN) prepared a Medium-Term Programme (MTP) an economic action plan aimed at moving the country to a more desired state, particularly in this next millennium. Whereas Vision 2010 report proposed the adoption of a private section-led development strategy to move the economy out of woods, the main emphasis of MTP is couched under finance and institutions with focus on fiscal balances, balance of payments, and the deregulation interest and exchange rate adjustments and economic deregulation, liberation and diversification of all economic activities in the country. A critical examination of these important reports against the backdrop of the development problems in Nigeria-huge external debt burden, serious economic decline and chronic budget deficits, and also the background of the country’s economic development objectives as elaborated in the “fundamental objectives and directive principles of state policy “presented in the Nigerian development objectives in Nigeria, 1999 constitution and then the vision 2010 report shows that acceptable national economic development objectives in Nigeria are anchored on the following:-
(i) The alleviation and elimination of poverty through provision of basic needs
(ii) The strengthening and expansion of productive capacity
(iii) The resolution of structural problems
(iv) The effective development of human & material resources
(v) The pursuit of export product base diversification and
(vi) The attainment of balanced economic growth and development.
From the above information, the major approach towards alleviating poverty is to create jobs. The only way to create jobs is to establish more manufacturing outfits in small, medium and large scale. It will involve the development of agriculture so that more unemployed youths will gainfully be employed.
The major problem of industrial development in Nigeria today is lack of regular power supply
Any small, medium and large scale manufacturing outfits established is capable of offering employment to unemployed youths. It is therefore advised to politicians and other meaningful rich Nigerians to set up industries (either small, medium of large scale) to contribute towards alleviation of poverty in Nigeria.
One of the industrial projects that can be set up in small, medium or large scale is Disposable Plastics
The global economy is going through a dynamic transforming translated into quite a number of events.
Nigeria for instance witnessed a fair share of these dynamics which among others include deregulation of the economy, rationalization, devaluation of the Naira, unemployment inflation etc. these developments especially unemployment, rationalization, recapitalization, deregulation provided the impetus for entrepreneurship development in the country.
It is no longer surprising for instance to notice that even those individuals, who are gainfully employed either with public or private sector engage in one form of business or the other. Such extra engagement, be it a small, medium or large scale business is intended to provide additional income to the owner or hedge against un-ceremonial retirement or disengagement from the paid employment.
What more of those individuals who are either unemployed on leaving school or caught-up in the never ending rationalization process embarked upon by both public and private sector employers. There is need for consideration of investing in any small and medium scale business.
Our services include provision of investment advisory, technical backups and total guide on how to establish and mange effectively profitable projects.
In this edition we discusses on how to establish We put into consideration the major problems confronting entrepreneurship development in Nigeria which include undercapitalization, lack of management ability and management depth ( lack of pre-requisites skill and experience) personal lack, and misuse of time; lack funds for projects, deliberate diversion of loans/credit meant for investment, competitive weakness and entrepreneurs fail to adapt quickly to changing business environment mainly characterized by technological advancement changing government policies and change in consumer taste. All these factors were reviewed in our studies to determine the suitability of investing in this project.
Nigeria is a country that is endorsed with abundant human and material resources. Serious efforts have been made over the years to harness these resources the outcome of all these efforts fall below the expected result. The much desired goal of an industrial and self-reliant economy has not been attained.
Efforts aimed at transforming the economy dated as far back as 1946 with the formulation of the “ten year plan of development and welfare in Nigeria”. This plan for development was followed by the National Development Plan of 1962-1968, and by the 1970 to 1974 plan, the 1975-1980 and the 1980-1985 plan. In 1970s, agriculture was the singular sector of the economic development active in the country.
Manufacturing and other sectors were at a low level of development. Commodity export played a leading role in the country’s external trade, while manufactured items dominated imports. Nigeria was self-sufficient in the production of her domestic food needs and productivity at that time was rising. The foreign exchange earned from export was used to import goods and services which led the foundation for development in Nigeria.
The import substitution strategy was the approach adopted by Nigeria for her industrial development. This strategy involved the importation of raw materials and machinery for the development of her industrial base. Nigeria exported raw materials which were processed into intermediate inputs and re-imported into Nigeria as raw materials for our industries at a substantially higher price. The period 1973/74 witnessed the rising export of crude petroleum. The increase in revenue from petroleum products export led to the neglect of the agricultural sector and to increase in public spending. The huge revenue accruing from the sale of crude oil was not judiciously utilized rather they were pumped into “white elephant projects” and into ostentations consumption. Thus the economy of Nigeria came to verge of collapse in the 1980s due to the fall in oil prices.
At that point the country had already built up huge external debts and balance of payments deficit.
To solve these problems, the government introduced a number policy measures like the budget-tightening measures of 1984, structural Adjustment Programme (SAP) aimed at laying a solid foundation for a self-reliant economy. Regrettably, this long awaited expectation has not been met. One of the reasons given for the lack of success is the level of productivity of the nation.
An improvement in productivity will certainly lead to a change in the present situation.
We talked about vision 2020 in which Nigeria is expected to become one of the developed nations of the world. Professionals have suggested that for Nigeria to achieve this vision, Nigeria needs to create 20 million new jobs. 2020 is around the corner and what are the possibilities of achieving this.
For the new 20 million jobs to be created the private sector must be involved and Nigeria will come up with effective policies that will lead to the development of agriculture and establishment of small, medium and large scale manufacturing industries.
The power sector and other basic infrastructures must be put in place.
Prospective investors will contact the writer for detailed and bankable feasibility reports, procurement and installation of quality & durable machines, Training of manpower and setting up of very good accounting and marketing structure for the proposed project.
Godwin can be reached via 08034494437 or firstname.lastname@example.org