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  3. The Role Of Community Banks In The Economic Development In Nigeria.

The Role Of Community Banks In The Economic Development In Nigeria.

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INTRODUCTION
Scriptural looking into the Bible when God created Man, He left man with a divine injunction as rewarded in the Holy Scripture, which Says, be fruitful and multiply and replenish the earth and subdue it, and have dominion over the fish of the sea and of the air.
And every living thing that moves upon the earth (Genesis 1.28) was the command.  The wheel of change has been rolling on throughout the entire world transforming virgin lands, desert, ocean and sea to economic advantage of Man.   Nigeria was unknown then.
The first step in the British acquisition in Nigeria Ondon who later becomewas the annexation of Lagos in 1861.  This marked the first step taken by the British Government in the 19th century to acquires economic and political domination over the people of Nigeria.
The Hunder land of Nigeria north of Lokaja was being administered on behalf of the British by a Government had declared a protectorate over areas cleared by the land company in 1887.  Then on January 1990, it took over direct administration of the area from the Royal Niger Company and named it the protectorate of Northern Nigeria with Lugard as its first High Commissioner.  This great political unit was christened “Nigeria” in 1990 by “Floral Show” Forum colonial correspondent of the times of London who later become Lugards Wife (Onwubike 1973). Lastly the two separate Government in the colony and the defectorate of southern Nigeria and the protectorate of Northern Nigeria were alonagated as the colony and protectorate of Nigeria on January 7 St 1914, Lugard became the Nigeria first Governor General. He continued in the March towards development in every fact of life as a new emerging nation.   In the West African region and by October 1st 1960, Nigeria was further granted with a follow- up step by its political freedom and emancipation when she was granted an independent status.  She was also granted the Republican status in 1963.
Furthermore, the plans for the growth and development of Nigeria was granted in one year 1970 – 1974 but was extended to one year 1975 in the third month and experienced a lot of problems.  Recovery from one civil war displayed one implementation of some project.  The fund that were anticipated were not forth coming and there was a lack of technical partners needed to carryout some aspect of the plan (Anderson 1976).  Also came the third development plan.  The plan covered a period of 5 years consecutively 1975 – 1980.   The principal long – run objectives are similar to those of the proceedings past independent plans.
The objectives are to make Nigeria.
(a)  A great and dynamic country.
(b)  A united, strong and self- reliant nation.
(c)  A just and exaltation society.
(d)  Aland of bright and full opportunities for all  citizens.
(e)  A free and democratic society.
A 9% per annum rate of growth of Gross Democratic Party (GDP) was assumed for the plan period and the total consumed and capacity invested was to be N30 Billions, the plan strategy was to utilize the country’s resources to develop the production capacity of the economy.  The plan was received up wards in 1976 (Ojo 1982).  Some of its highlights of these plans were agricultural N1.400 million.  The building of the two new oil refineries at Warri and Kaduna while the one at Port Harcourt was to be expanded.  The iron and steel industry with features in both the previous plan was to be established at Ajaokuta in Kwara
State.  A total of N6000 millions allotted to the industrial sector. Development of the infrastructures also took a large shy with a total of N4000 millions being allotted.  More roads were to come under the control of the Federal Government (F.G) and a modernization of the railways was planed.  The electricity capacity was to be extended to 1500 megawatts with N 2000 million going to education,  while health services were to be expanded =N=2400 million were budgeted for armed forces (Anderson 1976).
     The forth plan lasted for 4 years 1981 – 1985 and it described adequately the development of Nigeria.
Development could be defined as a displayed discipline which is the mooing force behind the socio – economic transformation of society.
Most community leaders saw development as more provision for schools, health centers, hospitals, post offices, town halls, churches, mosques, good roads, portable waters electricity and telephones (Ewulu 1996). However, in the post-independent era, the development process came to put more emphasis on the improvement in the “materials” condition and living (of man) through the use of resources available to him. In other words, development came to stress production and productivity.
Some of the indications of development are as follows:
1. Economics power (per capita income)
2. Employment
3. Savings investment
4. Level of literacy
5. Rural population
6. Nature/ Systems of Agricultural production
7. Quality of goods (1996)
Subsequently, several programmers and strategies have been actively encouraged, promoted and supported by the government amongst which are as follows:
1. Various agricultural development programme operation feed the Nation (O F N). Green Revolution, National Acceleration Food Project (NARFPP) and the Agricultural Development Project (ADP).
2. Directorate of Food, Roads and Rural Infrastructure (DFRRI).
3. The promotion of co-operatives:
4. Agricultural Credit Government Scheme and,
5. Rural Banking Policy.
The transformation of country into an economic giant has engaged the attention of successive Nigeria government through the listed economic efforts and various developing plans.
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