ABSTRACT
Prior to the introduction of the local content initiative, the rate of capital flight from the oil and gas sector was colossal. This trend was not encouraging for a nation that hopes to become one of the 20 leading economies in the world. Therefore in a bid to stem this trend, the Federal Government in 2007 introduced the Local content initiative. This work therefore aims at finding the prospect for growth in the Insurance industry. Questionnaires and oral interviews were used in gathering information for this project work. Some insurance companies in Port Harcourt were visited in other to get information for this research project. The theoretical method used to select the sample size for this research work was TARO YAMANI; the population of the study was drawn from the branch of some insurance companies in Port Harcourt. The source of data were both primary and secondary data. Chi-square statistical method was used for data analysis. It was also used in testing the hypothesis of this work. It was found that the introduction of local content by the Federal Government will enhance the growth and development of insurance business in Nigeria. This has come to stay and will ensure capitalization in the insurance industry. It is recommended that Federal government should help in enhancing the operation of insurance business in Nigeria through regulation and implementation.
TABLE OF CONTENTS
Title Page
Approval Page
Dedication
Acknowledgement
Abstract
Table of Contents
CHAPTER ONE:
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Problems
1.3 Objective of the Study
1.4 Research questions
1.5 Research Hypothesis
1.6 Significance of the study
1.7 Scope and Limitations of the Study
1.8 Definition of operational terms
References
CHAPTER TWO:
LITERATURE REVIEW
2.1 Historical Development of insurance In Nigeria
2.2 Reasons for the insurance business in Nigeria
2.3 The concept of local content initiative in Nigeria
2.4 The expected impact of local content Initiative on the growth and development of the Insurance Industry In Nigeria
2.5 The expected impact of local content in economic development of Nigeria
2.6 The Problems facing the insurance industry
2.7 Prospect of the effective implementation of local content initiative
2.8 Reasons for the introduction of Local content in Nigeria by the Federal Government.
2.9 The task before Nigerian insurers
2.10The task before the government
2.11Problems facing the insurance industry on local content
2.12Prospects of effective management of local content initiative in Nigeria.
2.13Local content and economic development
Reference
CHAPTER THREE:
RESEARCH METHODOLOGY
3.1 Research Design and Overview
3.2 Source of data and instrument for data collection
3.2.1Primary Data
3.2.2Secondary Data
3.3 Population of the study
3.4 Sampling size and sampling techniques
3.5 Statistical method used in data presentation and Analysis
3.6 Validity of the instrument
3.7 The Validity of the research work
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS 57
4.1 Bio Data
4.2 Benefits of local content initiative on the development of the insurance
Industry in Nigeria
4.3 Test of Hypothesis
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATION
5.1 Summary of Findings
5.2 Conclusion
5.3 Recommendation
Bibliography
Appendix
Questionnaire