Impact Of Governance Instruments On The Productivity Of Nigerian Firms - Dissertation Example

The major drawback in the Nigerian situation, however, is the culture of corruption that had permeated its political, commercial, and social systems during its years of military authoritarianism, and it is only during the past decade that a concerted national effort is being made to reverse this, through corporate governance.There have been strong indications that Nigeria’s leadership is taking this direction seriously. The formulation of a Code of Corporate Governance and the mandatory observance of this code in the bureaucracy and financial institutions have made some inroads into rejuvenating the former corrupt regime.

It has shown evidence through the increased volume of activity in the Nigerian stock exchange, as well as tough structural reforms in the banking sector.This dissertation examines the degree to which the corporate governance initiative has progressed in Nigeria, and the pitfalls it continues to encounter along the way. It arrives at the conclusion that the necessary legal and regulatory frameworks have been appropriately promulgated in the financial sector; however, the effectiveness of its implementation is marred by an apparent lack of political will among the constituents themselves, rendering the full realization of corporate governance and slow and painful process.

This first chapter presents the topic of research and the contextual perspective from which the researcher intends the readers to view it. A brief historical background is provided, as a precursor to the problem that the research seeks to resolve. A goal is thereafter articulated, and objectives leading to the goal. The problem is stated as the main research question, which is resolved into a few focused sub-questions the answers to which are steps leading to the eventual conclusion.