IOSR-JEF   Volume-1 ~ Issue-6

Abstract: The theme of resource control has become a very controversial one in the Nigerian politics as the battle over who gets what of the nation's wealth takes the centre stage. The states which constitute the federating units claim to own resources and to them it is logical that the control of the nation's resources be allowed to them. For now, the Federal Government of Nigeria is solely enjoying the monopoly of resource control. Resource control is a constitutional matter and the constitutional provision is that the mining of minerals including petroleum oil and gas is an exclusive Federal responsibility. If this provision has to be reversed in favour of the states, it has to go through a rigorous process of constitutional amendment. The focus of this article is to x-ray resource control in colonial and postcolonial era with a view to giving appropriate recommendations. Qualitative – historical approach was adopted as method of data collection and analysis.

Key Words: Resource Control, Nigerian Politics, Federating Units, Constitutional, Oil and gas.

Abstract: Entrepreneur as a fourth factor of production was introduced in the beginning of 18th century. Entrepreneur defined as a person who organized and managed the business and takes the risk to get profit. It is assumed that since none of the other factors of production perform these functions hence entrepreneur has a separate identity. But actually it is a fallacy, almost all the persons in this world perform same functions many times in their life but they are not entitled for profit or get any special identity. Actual fact is that, these functions are compulsory part of the nature of entrepreneur's work like other human being. Hence entrepreneur should be considered as part of labour and cannot be justify as a spate identity. JEL Classification: D81; G23:33; L11; M10; M11

Key Words: Entrepreneur: Factors of production; Organization, Management; Risk

Abstract: The Micro, Small and Medium Enterprise (MSME) sector plays a vital role in the growth of our country in creating employment, exports, gross industrial value of output, gross value added, investment in fixed assets, contribution to GDP, and giving boost to manufacture, service and infrastructure sectors. The opportunities in MSME sectors are enormous due to the factors like Less Capital Intensive, Extensive Promotion & Support by Government, Reservation for Exclusive Manufacture, Funding by way of Finance & Subsidies, Reservation for Exclusive Purchase by Government, Export Promotion, great demand in the domestic market , export potential and so on. The number of MSMEs functioning in the country as per Quick Results of 4th All India Census (2006-07), in the registered and unregistered categories are 1.55 Million (5.94%) and 24.55 Million (94.06%) respectively. The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 has given choice to entrepreneur that the filing of Memorandum (Registration) by Entrepreneur intending to establish a Micro, Small or Medium Enterprise is discretionary and not mandatory. In this study, besides making a brief review of the overall performance of the MSME sector, the role played by the Small Industries Development Bank of India (SIDBI) in empowering MSMEs and acting as the nodal agency for SME schemes of Government of India, have been described. Key words: MSMED Act, Export promotion, Memorandum, SIDBI, FIVE YEAR PLAN, Census