ECONOMETRICS APPROACH OF THE MONTHLY INCOME GENERATED FROM SALES OF LEGEND, GULDER AND MALTINA DRINKS IN NIGERIA

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ECONOMETRICS APPROACH OF THE MONTHLY INCOME GENERATED FROM SALES OF LEGEND, GULDER AND MALTINA DRINKS IN NIGERIA

(A CASE STUDY OF NIGERIAN BREWERIES PLC, IBADAN)

CHAPTER ONE

1.0   Introduction

Econometrics can be described as a branch of social science that deals with the measurement of economic relationship. This form of relationship or used by government and private sector to formulate economic as well as to make decisions.

The most tools of econometrics is regression analysis and it studies the relationship that between variable (two or more than two). In order to carryout econometric in analysis and to show the important of econometric analysis is how economic variable depends one another there is a need to carryout some test, base on information or data collected from an industry. It is also necessary to know the data analysis technique to put in place for analyzing the know variable.

1.1   Background of Nigeria Breweries Plc Ibadan Oyo State.

Nigeria Breweries plc, the largest brewery company in Nigeria was incorporated in 1946 and recorded a land mark when the first bottle of star larger beer Rolled off the bottling line in its Lagos Brewery in June 1949. This was followed by Aba Breweries which was commissioned in 1957., Kaduna Brewery was established in 1963 followed by Ibadan Brewery in 1982. The company established its fifty Brewery in Enugu in September, 1993, on April 9, 2001 the AMA Greenfield was commissioned and from its beginning in 1946 the company now has five operational Breweries from which its high quality product are distributed to all part of this country.

Nigeria Breweries Plc has rich portfolios of high quality brand which are has four varieties (Maltina classic Maltina Strewbery, Maltina exotic and Maltina with principle) Legend Extra Stout December 1992 Amtel Malt (1994) and Schweppes range of carbonated soft drinks included in December 1996 (Schweppes soda water). It was followed by the lunch of crush orange in November 1997 and Schweppes pine apple in October 1999. The company had earlier hundred into the Nigeria market Heineken Larger beer in June 1998. The company decided to exist the carbonated soft drinks market in August 2001, because of the need to concentrate on its area of core competence.

Nigerian Breweries Plc is a socially responsible corporate citizen with a very good record of corporate philanthropy in the areas of education, environment and communication among others. The company in 1994 establish on education. Trust fund #100 million to take more active part in the finding of educational and research facilities in higher citadel of learning’s all an effort to provide and encourage academic excellence in Nigeria. This is in addition to its secondary and university scholarship programme for children of its employees.

1.2   Statement of problem

A major problem facing manufacturing companies in Nigeria is the growing trend of input costs which erodes business profit and leads to constant shut down of factory (Ogbadu, 2000). This has led to a lot of brewery firms in Nigeria closing down manufacturing. For instance, the number of breweries in Nigeria in 1990 was about thirty three with total capacity of 20 million hectoliters but at present only about four of these Breweries are still operational. In the early 1980’s production in this all important sector grew rapidly. However, production fell marginally in 1987 and 1988 due to restriction on the import of barley malt and problems associated with the use of locally produced substitute. During this period capacity utilization fell to about 30% (Equity Research Report, 2006).

The above economic benefit of the Brewery industry can only be sustained when the brewery firms make profit which ensures their remaining in business. The continuous shutting down of brewery firms because of high cost of inputs hinders the economic growth and development of the nation. Equity Research Report (2006:4) opined that the main threats to the firms in the industry include rising cost of petroleum products and cost of raw materials such as barley (imported with high excise costs). The ban on the importation of barley and the replacement of barley malt with local substitutes have further increased the input cost of beer production. Packaging rates are higher, storage and transportation costs have increased drastically.

1.3   Aims and objectives

The aim and objective of this project is to show the rate at which the general public is lovely interested in purchasing alcoholic and Maltina drinks.  

1. To determine comparism between the independent variable and dependent variable                            
2. To know the types of relationship that exists between the independent and dependent variable.
3. To calculate the parameter of the econometrics model and test their significance.
4. To derive the equation that can be used to predict the sales
5. To forecast the factors value of the variable of the model
6. To formulate the economic policy and test a decision using the parameter obtained. 

1.4   Significance of the study

This work is beneficial to the Nigerian Public Sector in general and also important to government, academic potential and future researchers on the issue of econometrics analysis on the monthly income generated from sales of legend guilder, and maltina drinks in Nigeria.    

1.5   Delimitation of the study

This study covers Nigeria Breweries Plc, Ibadan, Oyo State. Nigeria Breweries Plc Oyo State is selected as sample among others breweries in Nigeria, it is believe that statistics has shown it clear that the selected industry has witnessed great changes in the issues of econometric analysis on the monthly income generated from sales of legend guilder, and maltina drinks documentary of the year analysis of the projects.

1.6   Limitation of the study   

There are many problem that a researcher has to encounter in collecting data for research work in carrying out this research work some problem are listed in the subsequent paragraphs.

1. Reluctance of primary data owner to release their data.
2. Transport risk is involved due to a traveling from one place to another during the course of the research work.
3. There is also a financial problem a ransom huge of money may be needed for research work.
4. Unavailability of relevance data due to some certain circumstance e.g. during political crises data may not be able to be collected for a particular month, during the N.U.R.T.W. (National Union of Road Transport Workers) crises data may also not to be accurately collected.
5. Error may arises due to mis-interpretation of figures approximation rounding off and even translation of errors.   

1.7   Hypothesis of research questions

H_i:    There is relationship between the total income on stout Guilder and Maltina drinks in Nigeria breweries plc.

H_o:   There is no relationship between the total income on stout Guilder and Maltina drinks in Nigeria breweries plc.

1.8   Definition of term

Econometric: The application of mathematical and statistical techniques to economic data and problems.

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