Entrepreneurship Education: A Diversity Gateway towards the Development of Global Economy

Most successful economies are driven by high level of private sector participation alongside good government policies and programmes driving the framework. With this era of public sector dominance and shrinking economy in our country, a lot of attention needs to be focused on entrepreneurial skills acquisition that creates employment and growth which is lacking. Therefore, the aim of this paper is to discuss the need and importance of entrepreneurial skill in the development of a global economy. The strategies and benefits of a sound vocational awareness were x-rayed. Subsequently, conclusion was drawn and recommendations were made; Among which are that government should continue to encourage entrepreneurship culture as it relates to vocational and technical education in Nigeria. Also, as a developing nation government programmes and policies should be aimed at repositioning entrepreneurship to take a prominent place in the global economy.Keywords: Entrepreneurship, Education, Employment and Global Economy

Entrepreneurship Education: A Diversity Gateway towards the Development of Global Economy

Most successful economies are driven by high level of private sector participation alongside good government policies and programmes driving the framework. With this era of public sector dominance and shrinking economy in our country, a lot of attention needs to be focused on entrepreneurial skills acquisition that creates employment and growth which is lacking. Therefore, the aim of this paper is to discuss the need and importance of entrepreneurial skill in the development of a global economy. The strategies and benefits of a sound vocational awareness were x-rayed. Subsequently, conclusion was drawn and recommendations were made; Among which are that government should continue to encourage entrepreneurship culture as it relates to vocational and technical education in Nigeria. Also, as a developing nation government programmes and policies should be aimed at repositioning entrepreneurship to take a prominent place in the global economy.Keywords: Entrepreneurship, Education, Employment and Global Economy

IRON TECHNOLOGY AND POLITICAL POWER: EXAMPLES FROM THE IRON SMELTING BELT OF NSUKKA AREA, ENUGU STATE, SOUTH-EASTERN NIGERIA

Iron smelting and its technology in Nigeria, particularly in South-Eastern Nigeria, had long gone into oblivion. Most people seem not to recollect coherent information about it as people aver that the furnace walls and iron slag dotted across the zone grew out from the ground. What a crass show of ignorance! But pointers to the practice exist in so many areas in form of iron slag, broken pieces of tuyere and furnace walls, etc. One area in South-Eastern Nigeria that is replete with these clues even to an intimidating level is Nsukka area in Enugu State. The area, possibly due to its proximity to the University of Nigeria, Nsukka has been well researched on, archaeologically speaking, especially in the area of iron technology. However, one fascinating feature of this technology lies not only on the magnitude of these pointers but how its tangible aspects grade into the intangible cultural practices of the respective communities where they occur. Apart from the often touted military superiority of those who possessed iron over those who did not, our ethnographic research in Nsukka area shows that iron could be a symbol of power in another way. As we observed, some areas with large concentration of evidence of iron workings tend to produce kings of their communities and where it is otherwise, they anoint kings or title takers. Is this a coincidence? This paper attempts to bring out the state of archaeological research, the ways the past through the furnace walls and iron slag, live in the present and direct the future in Nsukka area. It also tries to explore avenues through which these could be harnessed to attract UNESCO attention so as to use the features for the benefit of mankind. It concludes by calling on the National Commission for Museums and Monuments (NCMM) and Nigerian Tourism Development Corporation (NTDC)/Culture ministry to redirect attention on those non-renewable national resources. Key Words:  Iron, Technology, Political power, Nsukka, Iron smelting belt, Nigeria

The Application of Real Estate as Loan Collateral in Nigeria’s Banking Sector

The recent reforms in Nigeria’s banking sector have underscored the need for due diligence in lending. The study investigates the application of real estate as loan security to establish the extent and process of its use by commercial banks in Nigeria. Questionnaire survey was used to elicit response from a sample of commercial banks selected randomly. The findings demonstrate that real estate is the most widely used collateral instrument and banks follow due process in its application as collateral. However, the use is hindered by documentation and foreclosure problems. The findings are consistent with literature that real estate plays a significant role in secured lending, especially in developing countries. Overall, the borrower’s title to the collateral, the nature and quality of the title as well as the value of the real estate are important considerations when banks apply real estate as loan collateral. Thus, real estate, and especially property values, land titles and records are significant factors in contemporary Nigeria’s bank lending and with the greater emphasis on the security of credit, real estate is likely to assume even more vital role. Key words: Bank lending, Banking sector, Collateral, Real estate, Secured credit transaction

Comprehensive Perspectives in Bioremediation of Crude Oil Contaminated Environments

Diverse components of crude oil and petroleum such as polycyclic aromatic hydrocarbons (PAHs) have been found in waterways as a result of pollution from industrial effluents and petrochemical products (Beckles, et al., 1998). Petroleum hydrocarbon pollution of the environment may arise from oil well drilling production operations, transportation and storage in the upstream industry, and refining, transportation, and marketing in the downstream industry. Petroleum hydrocarbon pollution could also be from anthropogenic sources (Oberdorster and Cheek, 2000). Some non combusted hydrocarbons escape into the environment during the process of gas flaring. Until recently, the bulk of the associated gas produced during drilling in Nigeria, was flared. Sources of petroleum and its products in the environment will also include accidental spills and from ruptured oil pipelines. Today the international oil and gas-pipelines span several million kilometers and this is growing yearly due to inter-regional trade in petroleum products. Just like any other technical appliance, pipelines are subject to ââtear and wearââ, thus can fail with time (Beller, et al., 1996). Spilled petroleum hydrocarbons in the environment are usually drawn into the soil due to gravity until an impervious horizon is met, for example bedrock, watertight clay or an aquifer

Credit Risk Mitigation with Real Estate Collaterals in Nigeria’s Commercial Banks

The practice of posting collaterals to mitigate credit risk is commonplace in bank lending. Real estate is an important collateral instrument especially in developing countries. This study investigated credit risk mitigation with real estate collaterals by commercial banks in Nigeria to establish if real estate is a reliable collateral instrument, the role of real estate valuation and the key issues the banks consider in the process. Response was elicited from a sample of commercial banks in a cross-sectional survey with a structured questionnaire. Data analysis employed descriptive statistics. Findings indicate that real estate is a very reliable collateral instrument and that its valuation is a significant aspect of the risk mitigation process. The reliability of valuation opinion is the most important expectation of the banks from the valuers and the banks are satisfied with valuation advice provided by valuation firms. The banks consider the reputation of the borrower the most important factor to mitigate credit risk with real estate collateral and the quality of borrower’s title to the real estate the most important aspect of the collateral instrument for risk mitigation. Overall, the findings suggest negligence and inadequate due diligence on the part of the banks in the process of credit risk mitigation with real estate collaterals. There is need for adequate documentation of real estate titles and transactions for more efficient risk mitigation practice. Key words: Bank lending, Credit risk mitigation, Collateral, Nigeria; Real estate, Secured lendin

Effects of Employee Voice Management on Firm Performance: A Study of Bayelsa State Plastic Company, Yenagoa, Bayelsa State, Nigeria

This study explored the implications of employee voice management on firm performance of Bayelsa State Plastic Company, Elebele, Yenagoa. Quantitative research design was employed while structured questionnaire designed in 5-point Likert scale was administered on the sample of two hundred and eighty-one (281), out of which, two hundred and seventy-six (276) copies of the questionnaire were returned, hence used for the analysis. Multiple regression models via Ordinary Least Square (OLS) formed the bases for estimation. The results showed that employee team voice, employee ombudsman voice and employee suggestion scheme as constructs of employee voice have significant effect on firm performance and concluded that efficient utilization of employee voice management has the potentiality of driving high performance organizations by engendering goal-driven-attitude among the workers especially as their opinions, ideas and interests are considered. The implication of the results is that employees tend to demonstrate higher level of work commitment especially when they perceived that their welfare and interests are considered by the management. The study recommended that organizations especially manufacturing firms that have not yet engendered employee team voice in their communication systems should do so while firms that have instituted employee team voice mechanisms should continue to respond to the yearnings of their workers especially on issues that relate to their welfare for the elicitation of higher commitment to work that result to improved firm performance

UBC 97 and ACI 318-02 Code Comparison - Summary Report

Introduction Recognizing there have been questions on the differences between the alternate slender wall design procedures in 1997 UBC and in ACI 318-02, the SEAOSC Board authorized a Task Group to provide a comprehensive review of the two design procedures. The ACI procedure was adopted by IBC 2000 and subsequent code editions. As quoted in ACI 318R-02 Commentary Section R14.8, Section 14.8 is based on the corresponding requirements in the UBC and experimental research of the Test Report by SCCACI-SEAOSC. This summary report includes review of source documents, code comparison, and background of the design provisions under UBC and under ACI, respectively. A comprehensive review of the 1980 test data was made in addition to analytical comparison of sample wall panel design under each of the two procedures. Pursuant to the comparative design and validation of the original data, a list of findings is presented in the Report. Other design considerations though not part of the code comparison are discussed in order to encourage further studies by other groups. The report concludes with recommendations to SEAOSC Board and proposed changes to ACI. Code Comparison Under 97 UBC Section 1914.8, the cracked moment is based on fr = 5 √ f ´c.; and in ACI 318-02 Section 14.8, the cracked moment is based on fr = 7.5 √ f ´c. This also means that the Mcr (UBC) = 2/3 Mcr (ACI) in the application of the two design procedures. In the 97 UBC, a linear interpolation between Δcr and Δn is permitted in obtaining Δs in order to simplify the slender wall panel design for Ms \u3e 5 √ f ´c Ig/yt. The ACI procedure employs effective moment of inertia and a magnified moment for the combined moment due to lateral and eccentric vertical load, also know as the P-Δ effect. Table 1 gives section by section comparison between the alternate slender wall design procedures. Review of 1980 Test Data This Task Group was able to review and re-analyze the original test data. Verification of the 1980 data using adjusted lateral force and deflection data was performed. The analytical result follows closely with the bilinear load deflection characteristic. Lateral deflection increases rapidly when the moment exceeds two-third (2/3) of Mcr (as defined by ACI). The calculated moments for each of the twelve test panel correlate closely with the empirical test data. The load deflection curves and plots for the low axial loads versus moment interaction curve further validate the UBC design procedure. ACI needs to improve its methodology in computing Mu and Ie so that computed results would follow a bilinear load deflection characteristic. Summary of Findings Summary of comparative design examples is given on Table 5. Design based on ACI procedure is normally controlled by strength with service load deflection less than Δcr. ACI procedure significantly under-estimates service load deflection in comparison to the UBC procedure with increase lateral force and/ or axial load. Where wall panel design based on ACI procedures meets strength and deflection limit, the corresponding wall panel calculation based on UBC procedure may exceed the deflection limit. Recommendations To calculate service load deflection, use E/1.4 for earthquake forces Recommend to appropriate enforcement agencies that adoption of the 2003 IBC provisions on alternate design of slender wall procedure should incorporate proposed changes to ACI 318-05 Section 14.8.4. Modification to ACI 318-05 Section 14.8.4 -delete equations (14-8) and (14-9) and the last paragraph in total, and replace with the following after the first paragraph: “Δs = 0.67Δ cr + (Ms –0.67Mcr )(Δn –0.67Δcr)÷ (Mn-0.67Mcr); for Ms \u3e 0.67Mcr (14-8) Δs = 5 Ms lc2 ÷ (48Ec Ig) ; for Ms\u3c.67Mcr (14-9) Send a letter to ACI-318 addressing the concerns in using the ACI alternate design of slender wall procedure and requesting ACI 318 to correct statements under Commentary R14.8

Biotechnological Tools for Environmental Sustainability: Prospects and Challenges for Environments in Nigeria—A Standard Review

The environment is a very important component necessary for the existence of both man and other biotic organisms. The degree of sustainability of the physical environment is an index of the survival and well-being of the entire components in it. Additionally, it is not sufficient to try disposing toxic/deleterious substances with any known method. The best method of sustaining the environment is such that returns back all the components (wastes) in a recyclable way so that the waste becomes useful and helps the biotic and abiotic relationship to maintain an aesthetic and healthy equilibrium that characterizes an ideal environment. In this study, the method investigated includes biological method of environmental sustainability which seeks to investigate the various biotechnological tools (biotools) in current use and those undergoing investigations for future use

Hyperthyroidism - an unusual feature of thyroid carcinoma

A 53-year-old woman presented with thyrotoxicosis, which is an unusual manifestation of thyroid carcinoma. Hyperthyroidism associated with malignancy usually occurs with well-differentiated follicular thyroid carcinoma. We show that extensive disease burden contributed to the development of hyperthyroidism, the occurrence of the Jod-Basedow phenomenon and the subsequent death of the patient. This diagnosis and treatment can be challenging