Full Project – Computerised economic growth monitoring system

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CHAPTER ONE

1.1  BACKGROUND OF THE STUDY

The Nigerian Ministry of Finance is the government body that manages the finances of the Federal Government of Nigeria, including managing, controlling and monitoring federal revenues and expenditures.

• Services

Services include collecting and disbursing government revenue, formulating policies on taxation, tariffs, fiscal management etc., preparing and managing the budget, preparing annual accounts for ministries, departments and agencies, managing federal debt and regulating the capital market.

• Leadership

A senior civil servant acts as Permanent Secretary of the minister, assisting the politically appointed Minister of Finance, who is a member of the President’s cabinet.

• Parastatals and Agencies

The Ministry of Finance is responsible for a number of parastatals and agencies:

1. Office of the Accountant General of the Federation of Nigeria
2. Budget Office of the Federation
3. Federal Inland Revenue Service
4. Investment and Security Tribunal
5. National Insurance Commission
6. NEXIM
7. Nigeria Deposit Insurance Corporation
8. Nigerian Customs Service
9. Security and Exchange Commission

1.2  STATEMENT OF THE PROBLEM

Every organization is comprised of individuals that are recruited to offer diverse kinds of services, the cost of acquiring this task is translated into the payment made for carrying out this services. Economic Growth Monitoring is an important aspect of any developing country particularly Nigeria. The Federal Ministry of Finance which is in the position to monitor and forecast Economic Growth has for some time now been running their office activities manually. Thus the Federal Ministry of Finance is associated with the following bottlenecks.

1. As identified in the case study, improper attempt has been made to describe the Nigerian Economic Growth in relation to the nation’s development.
2. Incompetent members of staff carrying out the Economic Growth monitoring activities in the ministry: summarizing, analyzing and collection of data.
3. Poor record documentation.
4. Non-computer literate members of staff
5. Inaccuracy in Economic Growth Forecasting

The bottlenecks create depression of growth and development in standards of the economy.

1.3  OBJECTIVE OF THE STUDY

Having identified some major problems in the Federal Ministry of Finance, the objective of this study is thus stated as follows:

1. Properly analyze the problem of the present system.
2. Design and develop a computer-based solution for Economic Growth Monitoring system that will help to forecast economic growth properly.
3. Develop a program that describes the economic growth in numerical terms; gross domestic, inflation rate (increasing or decreasing) wage, price and employment.

1.4  SIGNIFICANCE OF THE STUDY

The purpose of carrying out this research is as stated below:

(1) To demonstrate that computer can actually eradicate some abnormalities in Economic Growth Monitoring system in the Federal Ministry of Finance.

(2) To show the thorough put of computerized Economic Growth Monitoring.

(3) Amongst all to computerize the Economic Growth Monitoring process in Federal Ministry of Finance.

1.5  SCOPE OF STUDY

This research work is restricted to the Economic Growth Monitoring department Federal Ministry of Finance. Although it ought to cover the whole of the ministry in the federation, due to time, finance and other logistics I had to limit myself to Abia state branch. In economic growth monitoring, several processes are adopted, depending on the need. Partitioning of organization is one of such.

1.6  LIMITATION OF STUDY

The following constraints were experience during the course of this work:

• Insufficient materials to carry out the research study.
• Poor attitude of staff in the ministry to give useful information form the basis for another challenge encountered during the course of this project.
• Time and finance are major factors that militated against this research work.

1.7  DEFINITION OF TERMS

Economic: Effective management of the resources of a community or syste

Monitoring: The act of listening, carrying out a surveillance on a system

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Full Project – Computerised economic growth monitoring system