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EFFECT OF GOVERNMENT REGULATION ON BUSINESS

(A CASE STUDY OF N.B.L. PLC)

 

ABSTRACT

The purpose of this research work is to have a detail effect of government regulation in business.

The case study.  The strength of the N.B.L. staff is about 60 workers with sample of 52 workers, the total of 52 questionnaire were printed and 52 were collected and analyzed in table.

The source of this research work is from both secondary and primary sources.  It was found out that performance appraisal system can be improved by preventing all forms of bics nepotism and favoritism and on the other hand encourage justice, fair play and equity.

Thus it was recommended that modern equipments and tools should be provided for the staff to carry out their duties effectively.

 

CHAPTER ONE

1. INTRODUCTION

1.1     BACKGROUND OF THE STUDY

 

In a country with mixed economy such as Nigeria, both the government and private individual turn the economy jointly.  This means that private individual, groups as well as the three levels of government are free to establish business enterprises.  The three levels of government low include the local, the state and the Federal Government, respectively.  In this modern world, mixed economy appear to the most prevalent economic system but what make the difference is the degree of the mixture.

Therefore, government has some important roles to play in this type of economy.  Based on the importance of government regulations on business in the country, government regulatory power on business activities was included in section 16 (1) and (s) of the 1979 federal constitution.  In 1984 as well, the former was modified by the then federal military government.  This modification was also included in section 16 (1) and (3) of 1999 constitution of the federal republic of Nigeria.  And both constitutions specified the following as regards our national economic activities.

Section 16 (1) states that the state shall within the context of the ideal and objectives, for which provisions are made in this constitution, control the national economy in such manner as to be secure the maximum welfare,  freedom and happens of energy citizen on the basis of social justice and equity of status and opportunity.  Without prejudice to its right to operate or participate in areas of the economy, other than the major sectors of the economy.