This study, LEASING AS A FORM OF FINANCING IN ONITSHA contains concise information that will serve as a framework or guide for your project work. The project study is well-researched for academic purposes and are usually provided in complete chapters with adequate References.
Lease is an agreement whereby the lesser conveys to the lessee in return for rent the right to use an asset for an agreed period of time.
The rate of industrialization is very slow in the country, this may be attributed to many factors ranging from non availability of the huge capital outlay which involves and the prevalent credit squeeze and to this, our project is meant to direct the government to recognize the extent to which equipment leasing has contributed to cooperate financing and that if attention and assistance be given to the leasing industry, its role in the economic emancipation of Nigeria will be invaluable.
TABLE OF CONTENT
1.1 Background of the study
1.2 Statement of problems
1.3 Objectives of the study
1.4 Significance of the study
1.5 Limitation of the study
Review of related literature
3.1 Sources of data
3.2 Method of data location
Recommendations and conclusion
1.6 BACKGROUND OF THE STUDY
Lease is defined as an agreement where by the lessor conveys to the lessee in return for rent the right to use an asset for an agreed period of time.
Most writers believe that equipment leasing started in 1977, the year that bell telephone first rented in the united state. It is however clear from history and decided cases in the British House of Lords that there were some form of leasing in the 1930’s and 1804’s in Great Britain. There was however, no organized leasing business in Great Britain until 1960 when financial leasing was junded in the city of London as a new method of business finance.
In Nigeria, leasing is a little more 24years in existence. In the early days of independence, prior to the incidence of exchange controls in 1967, some equipment were leased to Nigerian lessees directly by British leasing company, following the imposition of stringent exchange control measures period which were necessary for conserve the countries foreign exchange reserves, this type of off-shore leasing arrangement was no longer possible.
1.7 STATEMENT OF PROBLEMS
Despite the enviable prospects of equipment leasing, it is still faced with some problems, which are of great concern to me, and one of the reasons for embarking on this project. The problems include:-
1.8 OBJECTIVES OF THE STUDY
(1) The research work will aim at finding out if equipment leasing has sufficiently contributed to corporate finance.
(2) The study will as well try to find out the benefits of equipment leasing.
(3) Also the research work is aimed at finding out the problems and prospect of equipment leasing both now and in the near future.
(4) Whether there is need to fix actual percentage of commercial bank fund to equipment leasing.
1.9 SIGNIFICANCE OF THE STUDY
We are aware of several suggestions about why a company should lease equipment rather than buy it. So of the reasons are sensible while some are not, at the end of the day a company should take a financing decision that optimizes shareholders value.
Actually, a lot has not been known of equipment leasing in Nigeria thus it is not very popular and still in its infancy despite the fact that the merchant banks under ELAN have in their lease portfolio N1 billion.
THEREFORE, THE STUDY OF THIS PROJECT MATTER ESPECIALLY AT THIS PERIOD WHEN EQUIPMENT LEASING HAS BEEN CLASSIFIED AS A BANKING SERVICE UNDER THE 1990
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