Description
PREFACE
This book is epitomized in the conclusion of Joel Dean that “Bad Investment is the Source of Loss”. No doubt the source of bad investment has always been lack of understanding, knowledge and direction of an investment decision. Sometimes, this ignorance cannot be blamed on‘the investor or Investment Analyst, as there is no ready source of direction and where they are available, it is always difficult to come by. Again, Nigerian University undergraduates taking course in project Evaluation, most often, find-it extremely difficult ta locate detailed indigenous-text book(s) especially those written by renowned professional authors. These “missing links” informed the writing of this book.
Efforts have been made to pragmatize the subject in order to make it accessible to wide range of readers. Also the author has also tried to combine conciseness and clarity of exposition as well as indigenise the illustrations. This is to make an easy reading; however, some topics are very technical and intrinsically complex and require real business comprehension. This might, no doubt, lead to complaint of either over-complication or insufficiently rigorous treatment of some topics, This, in the author’s mind, is inevitable considering his target of reaching out rather heterogeneous groups of readers.
The structuring of the book into chapters is so designed to reflect the attainment of the objective of writing the book. Chapter one introduces the book; highlights financial assets; investment environment; factors to consider when taking investment decision, investment opportunities and sources of financing them. This chapter will help readers have an overview of investment (tangible and intangible) and expose them to some investment opportunities and how and where to get funds for them. Chapter two deliberates extensively on the broad area of fundamentals of project evaluation. Chapter three treats principal area of project evaluation techniques. It discusses nondiscounting and discounting techniques and their respective benefits and shortcomings. Chapter four-examines the broad area, investment decisions under uncertainty while chapter five concerns itself with leasing, replacement and make or buy decisions. Areas of current interest (treatment of inflation and post-audit exercise) in project evaluation are covered in chapter six. It concludes with the problems and prospects of project evaluation in the Nigeria economy. Chapter Seven treated Feasibility Report.
The author is, therefore, convinced that this book will be of immense assistance to Nigerian Undergraduate Students in Management Sciences, since it covers, among others, their Project Evaluation course Syllabus, as provided by National University Commission (NUC). Students for professional examinations in Finance and Banking, Accounting, Insurance and those in Polytechnic and Colleges of Technology will also benefit. For prospective and practicing Entrepreneurs, Project Engineers, Bankers, and other business professionals, this book will prove practically and intellectually useful.
Port Harcourt August 1997 | Emeka J, Okereke
Professor Emeka J. Okereke
Professor Emeka J. Okereke is a distinguished faculty member in the Department of Finance and Banking at the renowned Faculty of Management Sciences at University of Port Harcourt. With extensive experience and expertise in the field of finance, Professor Emeka J. Okereke is a sought-after educator, researcher, and industry consultant. Professor Emeka J. Okereke earned his Ph.D. in Finance from [University/Institution], a globally recognized center of excellence for finance education and research. His doctoral studies focused on [specific area of finance], where he conducted extensive research and contributed to the advancement of financial knowledge. Prior to his doctoral degree, Professor Emeka J. Okereke completed his Master’s in Finance, equipping them with a solid foundation in financial theory and analysis. Visit https://emekaokereke.com.ng/ for more detaails.
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