Overview Of The Nigerian Financial Sector And Economy Finance Essay

Overview Of The Nigerian Financial Sector And Economy Finance Essay CHAPTER 2 Nigeria is one of the largest countries in Africa. It was a colony of the British Empire. In 1960, after the abolishment of the colonization, Nigeria became independent and a new country was established and ruled by Nigerians. This was viewed as an outstanding milestone in that Nigeria at that time was viewed as one of the African countries with apparent growth potentials and it was believed that it will rise up to defend all other Africa countries dignity. However, this dream could neither be materialized nor actualized. Nigeria is known as a federal country, which consists of thirty-six different states and a federal capital territory. This nature of Nigeria came about due to the fact that Nigeria is a multi-cultural society, consisting of different ethnic groups with their respective languages and cultural identity. Nigeria is a culturally diverse country. Nigeria is a country blessed with vast mineral resources ranging from agricultural products which includes cash crops like coffee, pepper, cocoa, palm kernel, timber and rubber. Also mineral resources like tin, columbite, steel, bauxite, crude oil and natural gas are of vast availability. Amongst these; crude oil constitutes the largest revenue. Table 2.1 below contains the data for the economic and business environment which explains Nigeria at glance. Table 1: Overview of Nigerian Economic and Business Environment: The Economic Profile. 1 Land Area 923,773 Square kilometers 2 Population 140,000,000 3 GDP 140 Billion (2007) 4 GDP Growth 10% 5 GDP/H $1,200 6 % Petroleum to Total Revenue 95% 7 % Petroleum to Export Earnings 95% 8 Average Daily Output 2.3b/d 9 Oil Reserves 40bb 10 Gas Reserves 150 Trillion Cubic Meter. 11 Average Interest Rates 22% per annum 12 Average Inflation 17% 13 Exchange Rates N240/GBP $1 : N150 14 Major Trading Partners UK, USA, Spain, Germany, France and China. 15 Cost Of Capital 8.7 16 Country Rating BB by SP, Moody and Fitch. Source: Husaini Muhammad (2010), Pg.4. Given the economic profile above, one can discover all the indicators needed in seeing the strengths and weaknesses of the Nigerian financial sector and the economy at large. By looking at the land area, it can be seen that the huge population of 140 million people, which comprises of vast young population that are perceived to be productive labor force, both skilled and un-skilled since technical expertise is closely associated with the literacy level in a country which Nigeria has high level of illiteracy rate as indicated by most of the international organizations in their development reports such as the international monetary fund and the world bank. As can be seen from the report above, petroleum is one of the major exports which are in fact the main export that generates revenues for Nigeria. Nigeria is the 12th largest producer of petroleum in the world and the 8th largest exporter, and has the 10th largest proven reserves. (The country joined OPEC in 1971). Petroleum plays a large role in the Nigerian economy, accounting for 40% of GDP and 80% of Government earnings. However, agitation for better resource control in the Niger Delta, its main oil producing region, has led to disruptions in oil production and currently prevents the country from exporting at 100% capacity (Wikipedia, 2010) As the report shows, 95% of the revenue that is generated as a result of export is through petroleum and the rest of the 5% includes all other activities from different sectors such as the agriculture, services and so on. The revenue generated from the sale of petroleum is huge amounting to 44 billion USD, which in principle can be enough for the development of Nigeria infrastructure and other sectors as well. Yet upon the huge revenues from the oil sector, the GDP Per capita is relatively low compared to most of the countries in the world that are by far poorer than Nigeria in every aspect. Nigeria has been classified by the World Bank group as a lower middle income country. Also according to the Economist Intelligence Unit and the World Bank, Nigerian GDP at purchasing power parity has nearly doubled from $170.7Â  billion in 2005 to 292.6Â  billion in 2007. The GDP per head has jumped from $692 per person in 2006 to $1,754 per person in 2007 (Wikipedia, 2010). Almost Doubling of the GDP per head and GDP at purchasing power parity is a sign that Nigerian economy is doing well, because as we have known that these aggregate measures are the ones being used to access the growth potential and facts of a certain country, which therefore makes Nigeria a potential place for investment as a result of the certain improvements mentioned that took place. A clear sign shows that when GDP per capita increases and the purchasing power also increases, the welfare of the people is attached to that because the whole poverty index decreases as a result thereby increasing the living standards of Nigerians in general. The fact also shows that Nigeria is the most populous country in Africa, the eighth most populous country in the world, and the most populous country in the world in which the majority of the population is black. It is listed among the Next Eleven economies, and is a member of the Commonwealth of Nations. The economy of Nigeria is one of the fastest growing in the world, with the International Monetary Fund projecting a growth of 9% in 2008 and 8.3% in 2009 .It is the second largest economy in Africa, and is a regional power that is also the hegemon in West Africa (Wikipedia, 2010) This gives Nigerians privileged amongst their African counterparts. With the growth rate increasing from a lower figure to the level of 9%, even though it decreased by 0.7% is not that much but taking in to consideration that its an aggregate measure, this makes it very important because all sectors are included and therefore, the whole economy is taken into consideration. 2.2 The Formal Financial Sector Formal financial sector consists of all regulated financial institutions such as banks and insurance companies. What determines a formal financial sector changes from country to country because of the differences in the level of their respective economic developments. The way the formal financial sector is shaped depends on how market environment is perceived in a given country. Nigerian financial sector consists of different sections. These sections include: 2.2.1 The Regulatory Authorities The Nigerian Financial System comprises bank and non-bank financial institutions which are regulated by the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Securities and Exchange Commission (SEC), National Insurance Commission (NIC), Federal Mortgage Bank of Nigeria (FMBN), and the National Board for Community Banks (NBCB).These agencies are briefly discussed below: The Federal Ministry of Finance (FMF): The Federal Ministry of Finance advises the Federal Government on its fiscal operation and co-operates with Central bank of Nigeria in monetary matter. Recent amendment to the laws of the Central Bank of Nigeria compels it to report through the Federal Ministry of Finance to the Presidency. This ministry serves as the centre where the whole economic activities are being viewed and also it acts as a linkage between the trades partnerships between Nigeria and the world. The minister who is dully in charge of all the financial as well as economic activities those are of interest to the Nigerian society. Also it serves as the centre that informs different business initiatives that are of particular interest on Nigeria. The Central Bank of Nigeria (CBN): This is the apex regulatory authority of the financial system. It was established by the Central Bank of Nigeria Act of 1958 and commenced operations on 1st July 1959. Among its primary functions, the Bank promotes monetary stability and a sound financial system, and acts as banker and financial advisor to the Federal Government, as well as banker of last resort to the banks. The Bank also encourages the growth and development of financial institutions. Enabling laws made in 1991, gave the Bank more flexibility in regulating and overseeing the banking sector and licensing finance companies which hitherto operated outside any regulatory framework. By the powers of the central bank of Nigeria, the whole economy and especially the financial sector is being regulated and overseen. This gives Nigerian financial sector, hence the banking sector a sound environment in which the banks and other financial sector actors performed well even during the recent e conomic down turn. The Nigerian Deposit Insurance Corporation (NDIC): This compliments the regulatory and supervisory role of the central bank of Nigeria. It is however autonomous of the CBN and reports to Federal Ministry of Finance. The NDIC effectively took off in 1989 and was set up to provide deposit insurance and related services for banks in order to promote confidence in the banking industry. The NDIC is empowered to examine the books and affairs of insured banks and other deposit-taking financial institutions. Licensed banks are mandated to pay of 1% of their total deposit liabilities as insurance premium to the NDIC. A depositors claim is limited to maximum of N50, 000.00 in the event of a bank failure. The Federal Mortgage Bank of Nigeria (FMBN): The FMBN took over the assets and liabilities of the Nigerian Building Society. The FMBN provides banking and advisory services, and undertakes research activities pertaining to housing. Following the adoption of the National Housing Policy in 1990, The FMBN is empowered to license and regulate primary mortgage institutions in Nigeria and act as the apex regulatory body for the mortgage finance industry. The financing function of the Federal Mortgage Bank of Nigeria was carved out and transferred to the Federal Mortgage Finance, while the FMBN retains its regulatory role. The FMBN is under the control of the Central Bank. With this bank serving as the apex regulatory authority for the mortgage industry in Nigeria, investors have hugely invested in real estate and this has been in boom right from the adequate regulation of the mortgage sector in Nigeria. The Financial Services Coordinating Committee (FSCC): This is a committee established to co-ordinate the activities of all regulatory institutions in the financial system. The Committee is chaired by the Federal Minister of Finance. This committee is one of the important nails of the Nigerian financial sector because it reports on basis the strengths and shortcomings of the financial sector and the economy at large. By having that report as needed, and by co-operating with the legislative body which is the parliament, which is responsible for passing the budget allocation and its ratification, the whole financial system is being scanned to meet the needs of the present world and make the sector as competitive as possible with adequate regulations and supervisions. Figure 1: A Typical Nigerian Financial System Source: Husaini Muhammad (2010), Pg.8. 2.3 The Informal Financial Sector While the formal sector consists of the highly regulated portion of the economy that deals with the day-to-day operations of the economy, the informal sector as well play a very big and important role in the economy. Its true that the informal sector is un-regulated, and as a result, certain benefits that the economy get from different sectors is being missed, one cannot say that its not an important sector of the economy. This is because of the fact that the informal sector in some countries is perceived to be an added option when it comes to job opportunities. Job opportunities are almost endless when it comes to the informal sector perspective because anytime a person wants to enter it can be possible as a result of its nature of not being regulated and taken into consideration. Millions of dollars are being traded in the informal sector. Lets take an example of the black money market in Nigeria. This market consists of people selling and buying currencies and exchanging currencie s, which huge transactions takes place every day of the year. Why most of the time people prefer this sector and why that it disregards all the regulatory rules that are been exerted on those businesses called bureau de change which are dealing with the currency exchange. One can go directly and buy or sell any currency he/she wishes and leave in peace without giving any identity in carrying out the transaction. Traditionally, the informal sector in Nigeria comprises not only of the currency exchange market, it consists of different modes of transactions have been happening long periods of time. In the old days, inhabitants of different districts in Nigeria have their own ways of transacting currencies from one place to another, and these ways were all informal. Long before the arrival of the colonial powers, inhabitants in the country now called Nigeria were dealing with outside traders. This trade depends entirely of the closeness of the trade in terms of distance. For long time; the Arab caravan traders have penetrated the northern Nigeria since before the coming of the white colonial powers. This made them to know and get exposed to the world of gold as an object-serving like a currency for exchange of goods and services at that time. The southern part of Nigeria too had its on exposure with the white men, which its believed that they stayed there for decades before they penetrated to th e mainland Nigeria. By looking at the recent situations compared to the old days that I have discussed above, the situation some few decades changed as a result of the changing nature of the world itself due to different developments that took place. Clearly it has been observed that different ways of savings and business techniques developed amongst different ethnic entities in Nigeria. A common way where poor people used to save to gather money in order to use for the future, as its believed that poor people always have the thought of saving for the future because they always feel insecure that they are poor, with also cultural and religious beliefs that made the poor to save for their future welfare. In Nigeria, there used to be special kind of people who usually are informal groups that go round taking money from people in their job places, these kinds of people serve like the village bank, where they accept the money as deposit and save it for the people. This kind of agreement between the inhabitants of the respected area and the people going round to collect their money is in form of trust between them. Although it defers between community to community, the whole idea is the same which is deposit taking and saving, but what remains interesting here is that in some cases, these people that agree to save form group amongst them, and one or two people among them collect the money after it has been accumulated, usually they gather the money for some months, ranging from 6-12 months. The people that collect the money usually use it to boost their businesses and have agreements such as paying higher than what they have taken after some few month, which they are required to return b ack the money to the deposit taker, which another person among them will get the same and this procedure turns round and round. This is only one of the interesting cases because it gives us an insight of what informally the financial sector had been conducted in Nigerian villages and towns. These kinds of activities discussed above were those that gave rise to the need for the rural or remote area inhabitants to organize groups which are little bit stronger than the ones before. These groups were mainly in the form of Non-Governmental Organization NGOs that represent the interest of the inhabitants. Solidarity and trust were the main mechanism behind the driven force of these organizations. Moving from Southern to Northern Nigeria, these organizations became popular as every community wants to have a proper lead and a controlling leader that will prevent their business interests. Taking an example of the eastern part of Nigeria where is inhabited predominantly by the Igbo speaking tribe. Igbo people are known to have elders in their communities long before the western influence came to Nigeria. Apart from the elders, a king also is available. The elders are the king-makers, so they have the controlling power. These elders organize community groups which purposely protec t the businesses of the poor people from being bullied by the richer ones.so this is a typical example that can be seen as protection of the minority businesses against any monopolistic pressure from other bigger businesses around, hence one can conclude that this constitute the earlier version of micro-finance of a village think. These kinds of savings that the remote inhabitants engaged have been named differently among the ethnic groups in Nigeria. Generally there are three major ethnic groups in Nigeria which comprises of the Yoruba, Hausa and Igbo. These groups provide savings and credit services to their members. The informal microfinance arrangements operate under different names: esusu among the Yorubas of Western Nigeria, etoto for the Igbos in the East and adashi in the North for the Hausas (CBN, 2000). This became one of the main driven forces behind the establishments of the modern day micro-finance banks in Nigeria. The informal associations that operate traditional microfinance in various forms are found in all the rural communities in Nigeria (Otu, 2003). They also operate in the urban centers. However, the size of activities covered under the scheme has not been determined. 2.4 The Nigerian Banking System and Environment The Nigerian banking sector has been in existence right from the colonial era. The fact that Nigeria was a top producer of most of the needed cash crops by the colonial masters, it became an important need for the country to have a proper financial system that will be used in conducting the businesses efficiently. In 1892 Nigerias first bank, the African Banking Corporation, was established. No banking legislation existed until 1952, at which point Nigeria had three foreign banks (the Bank of British West Africa, Barclays Bank, and the British and French Bank) and two indigenous banks (the National Bank of Nigeria and the African Continental Bank) with a collective total of forty branches. A 1952 ordinance set standards, required reserve funds, established bank examinations, and provided for assistance to indigenous banks. Yet for decades after 1952, the growth of demand deposits was slowed by the Nigerian propensity to prefer cash and to distrust checks for debt settlements. (CIA, 1991). Since then,the Central Bank Of Nigeria has been the regulatory authorithy that oversees the whole banking system of nigeria in order to guarantee the soundness in the financial system.Since from its inception,many banks were given licences which could not perform well and some of them failed as a result of bad risk management or mis aapropriations of public funds.In the early years back some banks were reported to have weak capital base and some of them could not meet their daily liquidity needs,this rose the idea of tightening the regulatory standards of the establishing laws of the Central Bank Of Nigeria which led to the amendments of the CBN act in 1999 which restructure the banking system and tight risk management policies were implemented (CBN, Amendments Of CBNAct, 1999). As a result of adequate regulatory system by the CBN, in 2004 also another development took place. This development was aimed at a comprehensive change of the whole Nigerian banking industry, particularly the deposit money banks which are otherwise knows as conventional or traditional banks.These major key points and solutions were proposed by the CBN Governor and are indicated in Appendix A. With these amendments taken into force in 2005, which made the banks to have adequate capital base to at least begin to be able to regain their reputations in the eyes of world. Before the reforms, Nigerian banking sector stopped attracting international investors due to the higher country risk and inadequate regulatory rules on the banking sector. Many businesses were attracted as a result of the reforms which increased the soundness of the banking and hence the financial sector in Nigeria. As a result, some banks had to merge with others because they cannot meet the capital requirement of 25 Billion Naira set by the CBN. This reduced the total number of the banks from 89 to 24 in 2005 as a result of the reforms (CBN, Banking Supervision Annual Report, 2008). Below is a table showing some of the banks that merged and acquired other banks as reported by the CBN bank supervision annual report in 2008. Table 2: Resolution Of Private Sector Deposits for Acquiring and assumed Banks. Source: Central Bank of Nigeria, Bank Supervision Annual Report, (2008).Pg.24. However, by looking at the table 2 above, its understandable for the Nigerian banks to merge because they had less capital base to continue with their operations and be able to meet-up and compete with the rest of the world. The merging of the banks gave them strength in terms of capital and also variables like number of branches and employees and hence human capital and technical expertise increased. Even though that some of the banks had to close down totally, that did not affect the financial system negatively in terms of performance measures accessed of the banks, instead efficiency is fostered and more reliability is seen in the banking sector as the whole aggregate balance sheet structure of the banking system showed below: Table 3: Aggregate Balance Sheet Structure of the Nigerian Banking System Source: Central Bank of Nigeria Bank Supervision Annual Reports (2010), Pg.68. Clearly changes have been seen between the pre-mergers/recapitalization and post-mergers/recapitalization of the banks. The pre-merger period which was the year 2004, the annual growth of the entire banks in the system was 12.24 percent and in 2008 which is the recent post-merger period, the annual growth rate stood at 60.43 percent, even though in 2007, a negative growth of 12.78 percent was realized. Certainly, this was an outstanding performance that indicated the working of the mergers between the previous 89 banks in the system. This clearly shows that the merging of the banks to 24 banks in number had brought to the banking system of Nigeria a sound sense that is perceived as a component that will aid in regaining the long-eroded trust of the industry in the eyes of the world. Therefore, this was and still is a tremendous milestone in the history of the Nigerian banking system. Table 4 below shows the list of the current 24 banks that came to being as a result of the mergers between the previous 89 banks. Note that some of the banks maintained their positions and name due to the fact that they met up with the requirements setup by the CBN. Table 4: List of the Current Banks in Nigeria. Institution Name Type Of Institution Date Re-registered Date Licensed 1 Access Bank Nigeria Plc. Universal Bank 1/17/1990 1/17/1990 2 Afribank Nigeria Plc. Universal Bank 1/3/2006 1/3/2006 3 Citibank Nigeria Limited Universal Bank 10/11/2004 10/8/2004 4 Diamond Bank Nigeria Plc. Universal Bank 12/31/1990 12/31/1990 5 Ecobank Nigeria Plc. Universal Bank 4/24/1989 4/24/1989 6 Equitorial Trust Bank Plc. Universal Bank 1/2/2006 1/2/2006 7 Fidelity Bank Plc. Universal Bank 1/2/2006 1/2/2006 8 First Bank of Nigeria Plc. Universal Bank 1/29/1979 1/29/1894 9 First City Monument Bank Plc. Universal Bank 11/11/1983 11/11/1983 10 First Inland Bank Plc. Universal Bank 1/2/2006 1/2/2006 11 Guaranty Trust Bank Plc. Universal Bank 1/17/1990 1/17/1990 12 Intercontinental Bank Plc. Universal Bank 10/2/1989 10/2/1989 13 Oceanic Bank International Nigeria Plc. Universal Bank 1/31/2006 3/20/2000 14 Platinum Habib Bank Plc. Universal Bank 5/2/2001 5/2/2001 15 Skye Bank Plc. Universal Bank 1/3/2006 1/3/2006 16 Spring Bank Plc. Universal Bank 1/3/2006 1/3/2006 17 Stanbic IBTC Bank Plc. Universal Bank 1/2/2006 1/2/2006 18 Standard Chartered Bank Nigeria Plc. Universal Bank 12/1/2004 6/9/1999 19 Sterling Bank Plc. Universal Bank 1/25/1999 11/25/1960 20 Union Bank of Nigeria Plc. Universal Bank 1/2/2006 1/2/2006 21 United Bank For Africa Plc. Universal Bank 1/2/2006 1/2/2006 22 Unity Bank Plc. Universal Bank 1/2/2006 1/2/2006 23 Wema Bank Plc. Universal Bank 1/18/1965 1/17/1945 24 Zenith Bank Plc. Universal Bank 9/13/2004 6/20/1990 Source: Central Bank of Nigeria, (2010).

Smoking Ban Essays -- Social Issues, Smoking, Nicotine

Smoking should be banned from public places. Studies show that smoking can lead to cancer. Not only does this put the smoker’s life at risk, it also affects the lives of non-smokers, including pregnant women. Smoking all together is a dangerous thing to do. It began thousands of years ago with the use or tobacco in South America (Libal 11). No one knew about the long-term health effects of smoking tobacco before the twentieth century. It was decades of cigarette use before society began to realize that a health crisis was emerging (Libal 13). The health crisis that was emerging was cancer, among other diseases such as heart disease, bronchitis, and lung cancer. Cigarettes contain many harmful substances that help contribute to the forming of cancer in the human body. Some of those substances are nicotine, black tar, and carbon monoxide. Nicotine is the drug that helps the body to become addicted. Black tar sticks to the lining of the lungs and makes it hard to breathe. Carbon monoxide and other chemicals help poison the lungs (Keyishian, 14). When black tar sticks to the lining of the lungs. While making it harder for the smoker to breathe, it also causes for the heart to work h arder than it normally should. Carbon monoxide prevents oxygen from getting to the heart. That could cause heart disease. Smoking is very hard on the heart also. There is a chemical in tobacco smoke that can narrow the veins in the heart, increasing the chance of a heart attack (Libal 28). Smokers do not realize that many parts of the body work together like the lungs, heart, and blood vessels. When smokers smoke, the body inhales the nicotine and carbon monoxide. Nicotine and Carbon monoxide makes the blood vessels smaller than usual. ... ...loyees and others in public places is of the extreme importance. Some people might argue that banning smoking from the public is not a good idea. There are many facts that prove why smoking should be banned. Smokers might even argue that they have a right to smoke in public places, which may be true. By smoking in public smokers do not realize how much he or she is endangering another individual life. There are several reasons why smoking should be banned. Smokers fail to see that by banning smoking it could be very beneficial to them also. When thinking about banning smoking from the public smokers should think about all the lives they could help save. Smoking should be banned from the public because smoking leads to cancer, puts the U.S citizens lives at risk that choose not to smoke, and it could also endanger a pregnant women’s health.

What is happening to the Amazon Rainforest

The Amazon rainforest is the largest tropical rainforest in the world which covers over five and half a million square kilometers. Over half of the Amazon is located in Brazil but also in South American countries; Peru, Venezuela, Ecuador, Colombia, Guyana, Bolivia and Suriname. (Science Kids, 2013). During the past 40 years, 20% of the Amazon rainforest has been cut down, this percentage could be higher but was not put in account due to logging. this causes damage and shows that there is less seen cuts. Scientists says that 20% trees could be lost in the next two decades.  (National Geographic, 1996)The Amazon gets worse and worse every time it is observed. The main cause for this is deforestation. This investigation will show what is happening to the Amazon Region and what could be the management for it. Socially, the main cause for rainforest destruction is deforestation which is done by humans, who are at fault for it. Deforestation is the process of cutting down, damaging and burning a rainforest. Every year an area of a rainforest is cut down and destroyed. The plants and animals that used to live there die or adapt somewhere else.There are many reasons are for wood, agriculture, land for poor farmers, cattle, paper, road construction and extraction of minerals and energy. In 2005 and 2010 the Amazon had the worst droughts ever recorded. Rivers dried up, communities were isolated and land was burned. The smoke interfered with transportation and blocked the formation of rain clouds. This burnt carbon dioxide and worsened the effects in climate change. The flooding of damns and wildfires destroy rainforest and migrants clear the land to keep some for themselves.This shows that people don't really care about how much damage is caused for the rainforest but only about themselves and the things they need to do. (SlideShare, 2013) This affects the rainforest because if people keep damaging the rainforest, there will be no rainforest left. Economically whats h appening the Amazon is mostly because of logging, fires, mining, agriculture, cattle ranching and currency devaluation. The Amazon Rain forest is cleared out to raise cattle and to produce beef, this means that many different species of animals are losing their habitats and this leads to extinction.The human population is growing faster and faster and this means we need more food. The Amazon is society's best way of clearing out cattle to produce food. As the rainforest is losing its ability to stay green because of fires but this means that more trees, plants and parts of the forest are being killed. (SlideShare, 2013) One of the main causes of the rainforest destruction is logging. Many types of wood is used for the furniture, floor, constructions and tropical forests in Africa, Asia and South America.When people buy certain wood products they are usually from the Amazon, this causes destruction of the Amazon Rainforest. Poor farmers in the world rely on clearing rainforest land t o feed their families. Without access to better agriculture land most people burn and clear patches of forest land. Agricultural companies have started clearing more rainforest than before, specially in the amazon where places are converted into soybean farms. Apparently South America will have an area of farmland coming for the Amazon rainforest.This means that it will cause more damage and destruction for the Amazon. (Mongabay. com, 2005). This affects everyone that like specific woods that come from the Amazon, because if tree's keep getting cut down no one will get the furniture, floor or constructions they want. Scientist say 4C rise will kill 85% of the Amazon Rainforest, even small temperate would cause 20-40% within 100 years. Global warming will wreck attempts tom save the Amazon as, there is a prediction one-third of trees are killed by small temperature's rises.  (The Guardian, 2013)This means that climate is a big issue in the Amazon and that it is affecting everything within in. If the climate continues killing the Rainforest, under 300 years the whole Amazon would be destroyed. There are possible strategies for a sustainable management for the Amazon rainforest. These include; Agro-forestry- growing tree's and crops at the same times. This means that farmers can take advantage of shelters from canopy of trees. It will also prevent soil erosion. Selective logging- trees are cut down when they reach are particular height.This allows young trees to have a longer life span. The forest will be fresh fore 30-50 years. Protect particular area's from exploitation. This saves some wildlife and parts of the forest and does not let humans invade on them. Monitoring- use technology/photography to check no illegal activities take place and everything is in order. Afforestation- opposite of deforestation, if tree's are cut they are replace to maintain the canopy. Education – make sure people who explore the Amazon understand their boundaries, actions and consequences. (Bitesize, 2013)

What is happening to the Amazon Rainforest

The Amazon rainforest is the largest tropical rainforest in the world which covers over five and half a million square kilometers. Over half of the Amazon is located in Brazil but also in South American countries; Peru, Venezuela, Ecuador, Colombia, Guyana, Bolivia and Suriname. (Science Kids, 2013). During the past 40 years, 20% of the Amazon rainforest has been cut down, this percentage could be higher but was not put in account due to logging. this causes damage and shows that there is less seen cuts. Scientists says that 20% trees could be lost in the next two decades.  (National Geographic, 1996)The Amazon gets worse and worse every time it is observed. The main cause for this is deforestation. This investigation will show what is happening to the Amazon Region and what could be the management for it. Socially, the main cause for rainforest destruction is deforestation which is done by humans, who are at fault for it. Deforestation is the process of cutting down, damaging and burning a rainforest. Every year an area of a rainforest is cut down and destroyed. The plants and animals that used to live there die or adapt somewhere else.There are many reasons are for wood, agriculture, land for poor farmers, cattle, paper, road construction and extraction of minerals and energy. In 2005 and 2010 the Amazon had the worst droughts ever recorded. Rivers dried up, communities were isolated and land was burned. The smoke interfered with transportation and blocked the formation of rain clouds. This burnt carbon dioxide and worsened the effects in climate change. The flooding of damns and wildfires destroy rainforest and migrants clear the land to keep some for themselves.This shows that people don't really care about how much damage is caused for the rainforest but only about themselves and the things they need to do. (SlideShare, 2013) This affects the rainforest because if people keep damaging the rainforest, there will be no rainforest left. Economically whats h appening the Amazon is mostly because of logging, fires, mining, agriculture, cattle ranching and currency devaluation. The Amazon Rain forest is cleared out to raise cattle and to produce beef, this means that many different species of animals are losing their habitats and this leads to extinction.The human population is growing faster and faster and this means we need more food. The Amazon is society's best way of clearing out cattle to produce food. As the rainforest is losing its ability to stay green because of fires but this means that more trees, plants and parts of the forest are being killed. (SlideShare, 2013) One of the main causes of the rainforest destruction is logging. Many types of wood is used for the furniture, floor, constructions and tropical forests in Africa, Asia and South America.When people buy certain wood products they are usually from the Amazon, this causes destruction of the Amazon Rainforest. Poor farmers in the world rely on clearing rainforest land t o feed their families. Without access to better agriculture land most people burn and clear patches of forest land. Agricultural companies have started clearing more rainforest than before, specially in the amazon where places are converted into soybean farms. Apparently South America will have an area of farmland coming for the Amazon rainforest.This means that it will cause more damage and destruction for the Amazon. (Mongabay. com, 2005). This affects everyone that like specific woods that come from the Amazon, because if tree's keep getting cut down no one will get the furniture, floor or constructions they want. Scientist say 4C rise will kill 85% of the Amazon Rainforest, even small temperate would cause 20-40% within 100 years. Global warming will wreck attempts tom save the Amazon as, there is a prediction one-third of trees are killed by small temperature's rises.  (The Guardian, 2013)This means that climate is a big issue in the Amazon and that it is affecting everything within in. If the climate continues killing the Rainforest, under 300 years the whole Amazon would be destroyed. There are possible strategies for a sustainable management for the Amazon rainforest. These include; Agro-forestry- growing tree's and crops at the same times. This means that farmers can take advantage of shelters from canopy of trees. It will also prevent soil erosion. Selective logging- trees are cut down when they reach are particular height.This allows young trees to have a longer life span. The forest will be fresh fore 30-50 years. Protect particular area's from exploitation. This saves some wildlife and parts of the forest and does not let humans invade on them. Monitoring- use technology/photography to check no illegal activities take place and everything is in order. Afforestation- opposite of deforestation, if tree's are cut they are replace to maintain the canopy. Education – make sure people who explore the Amazon understand their boundaries, actions and consequences. (Bitesize, 2013)

What is happening to the Amazon Rainforest

The Amazon rainforest is the largest tropical rainforest in the world which covers over five and half a million square kilometers. Over half of the Amazon is located in Brazil but also in South American countries; Peru, Venezuela, Ecuador, Colombia, Guyana, Bolivia and Suriname. (Science Kids, 2013). During the past 40 years, 20% of the Amazon rainforest has been cut down, this percentage could be higher but was not put in account due to logging. this causes damage and shows that there is less seen cuts. Scientists says that 20% trees could be lost in the next two decades.  (National Geographic, 1996)The Amazon gets worse and worse every time it is observed. The main cause for this is deforestation. This investigation will show what is happening to the Amazon Region and what could be the management for it. Socially, the main cause for rainforest destruction is deforestation which is done by humans, who are at fault for it. Deforestation is the process of cutting down, damaging and burning a rainforest. Every year an area of a rainforest is cut down and destroyed. The plants and animals that used to live there die or adapt somewhere else.There are many reasons are for wood, agriculture, land for poor farmers, cattle, paper, road construction and extraction of minerals and energy. In 2005 and 2010 the Amazon had the worst droughts ever recorded. Rivers dried up, communities were isolated and land was burned. The smoke interfered with transportation and blocked the formation of rain clouds. This burnt carbon dioxide and worsened the effects in climate change. The flooding of damns and wildfires destroy rainforest and migrants clear the land to keep some for themselves.This shows that people don't really care about how much damage is caused for the rainforest but only about themselves and the things they need to do. (SlideShare, 2013) This affects the rainforest because if people keep damaging the rainforest, there will be no rainforest left. Economically whats h appening the Amazon is mostly because of logging, fires, mining, agriculture, cattle ranching and currency devaluation. The Amazon Rain forest is cleared out to raise cattle and to produce beef, this means that many different species of animals are losing their habitats and this leads to extinction.The human population is growing faster and faster and this means we need more food. The Amazon is society's best way of clearing out cattle to produce food. As the rainforest is losing its ability to stay green because of fires but this means that more trees, plants and parts of the forest are being killed. (SlideShare, 2013) One of the main causes of the rainforest destruction is logging. Many types of wood is used for the furniture, floor, constructions and tropical forests in Africa, Asia and South America.When people buy certain wood products they are usually from the Amazon, this causes destruction of the Amazon Rainforest. Poor farmers in the world rely on clearing rainforest land t o feed their families. Without access to better agriculture land most people burn and clear patches of forest land. Agricultural companies have started clearing more rainforest than before, specially in the amazon where places are converted into soybean farms. Apparently South America will have an area of farmland coming for the Amazon rainforest.This means that it will cause more damage and destruction for the Amazon. (Mongabay. com, 2005). This affects everyone that like specific woods that come from the Amazon, because if tree's keep getting cut down no one will get the furniture, floor or constructions they want. Scientist say 4C rise will kill 85% of the Amazon Rainforest, even small temperate would cause 20-40% within 100 years. Global warming will wreck attempts tom save the Amazon as, there is a prediction one-third of trees are killed by small temperature's rises.  (The Guardian, 2013)This means that climate is a big issue in the Amazon and that it is affecting everything within in. If the climate continues killing the Rainforest, under 300 years the whole Amazon would be destroyed. There are possible strategies for a sustainable management for the Amazon rainforest. These include; Agro-forestry- growing tree's and crops at the same times. This means that farmers can take advantage of shelters from canopy of trees. It will also prevent soil erosion. Selective logging- trees are cut down when they reach are particular height.This allows young trees to have a longer life span. The forest will be fresh fore 30-50 years. Protect particular area's from exploitation. This saves some wildlife and parts of the forest and does not let humans invade on them. Monitoring- use technology/photography to check no illegal activities take place and everything is in order. Afforestation- opposite of deforestation, if tree's are cut they are replace to maintain the canopy. Education – make sure people who explore the Amazon understand their boundaries, actions and consequences. (Bitesize, 2013)

Joseph Stalins Power - 1574 Words

Joseph Stalin is one of the most notorious figures in history. It all started in 1875, with a young Caucasian, Vissarion Ivanovich (son of Ivan) Djugashvili, set out from the village Didi – Lilo, near Tiflis, the capital of the Caucasus, to settle in the little Georgian country town of Gori. There he started a small shoemakers business. Vissarion Djugashvili was the son of Geogian peasants who only ten years before had still been surfs. He was just a slave to some Georgian landlord. He would never have been free to leave his native village and become an independent artisan. Certainly the day came where Vissarion, then must have left his village in a mood of hopeful elevation. He had become a free man, and now as an independent artisan he†¦show more content†¦Stalin waited until all the Paliburo members have stated their preferred policies. He continued to use the position of General Secretary of the Communist Part to promote all of the loyal supporters and expel those who could not be sure about. From the mid-1930s he began to use public events had accused people and would get them arrested, tortured, killed or all of it combined. According to this website Joseph Stalins Rise to Power. History.com. AE Television Networks shows him getting closer to what he wants. In 1924 when Vladimir Lenin died, Stalin took over the whole leadership of the Soviet Union. Fear became one of the main weapons Stalin used against the Soviet people. He began growing with his power and control. Stalin had eventually got his rivals and won the power struggle for control of the communist party. By the late 1920s he become dictator of the Soviet Union. Starting in the late 19302 Stalin launched a series of five year plans. He intended to transform the Soviet Union from a peasant, weak society into an industrial superpower. His developed plan mostly focused on the government’s economy and its wealth. Stalin took control over the farms and forced to collect the Sovi et agriculture. Whoever did not cooperate with Stalin’s order were exiled. The forced collectivization led to widespread famine acrid the Soviet Union that killed millions of people. He wanted to create a strong union by hisShow MoreRelatedJoseph Stalin: Unprecedentedly Destructive As Ai Wei Wei once stated, â€Å"The biggest crime of a700 Words   |  3 PagesJoseph Stalin: Unprecedentedly Destructive As Ai Wei Wei once stated, â€Å"The biggest crime of a dictatorship is to eradicate human feelings from people.† In George Orwells political novelette, Animal Farm, and from database research, the dictator robbed citizens of their security and initially trumped Adolf Hitler’s heinous crimes. Joseph Stalin’s lust for power terrorized post-revolutionary Russia. Sources state that under Joseph Stalin’s rule there was a stable government; however, while StalinRead More Stalins Rise To Power Essay1190 Words   |  5 Pagesmaintain what Kruchev described as â€Å"the accumulation of immense and limitless power†, in the USSR between 1924 and 1945? Between 1924 and 1945, Joseph Stalin was able to emerge as the leader of the USSR and maintain what Kruchev described as â€Å"the accumulation of immense and limitless power†. Stalins rise to power was a combination of his ability to manipulate situations and the failure of others to prevent him from taking power, especially Leon Trotsky. Stalin ruled the USSR from 1929 until his deathRead MoreJoseph Stalin And Vladimir Putin1062 Words   |  5 PagesOver the last century, Russia has been led by two of its most dominant and imperious leaders: Joseph Stalin and Vladimir Putin. Although similar in several ways, these two leaders have many differences as well. Joseph Stalin was an imperious and domineering dictator of Russia from 1929 to 1953. Following Lenin’s death, Stalin moved up in the ranks in the communist party, outflanked his fellow party men, and subsequently seized leadership of the Soviet Union. He then established a totalitarian communistRead MoreStalin s Plan For Communism1210 Words   |  5 Pagesdifferent than that of Canada. Although Russia claims to be a democracy, its citizens do not fully know the idea of freedom. Joseph Stalin had a plan to make Russia the super power of the world but ultimately failed because communism never works. Stalin released new ideas that he thought would help improve the economy but never actually did. From the time that Stalin came into power in 1924, up until his death in 1953 he transformed Russia’s previously more week society into an active military and industrialRead MoreAdolf Hitler and Joseph Stalin1033 Words   |  5 PagesAdolf Hitler and Joseph Stalin are two of the most sadistic dictators of the past century. They both reigned terror in Europe during World War II. Fueled by rage and anger, Hitler and Stalin rose to power and exploited their beliefs throughout Germany and Russia. Stalin turned Russia into a Communist country while Hitler was turning Germany against Jews. The leadership of these dictators brought death and fear to many who opposed them. Hitler and Stalin both shared deprived childhoods, vicious fathersRead MoreEvidence has shown that Stalin was not a savior to Russia by creating economic policies to help1300 Words   |  6 Pages Evidence has shown that Stalin was not a savior to Russia by creating economic policies to help with the agriculture and also modernized Russia. Stalin’s plan was to make Russia an industrial giant, so Stalin created the five-year plan to work on the farms and factories of Russia. Stalin’s five-year plans were a series of nation wide centralized economic plans in the Soviet Union (Wikipedia). What that meant was that peasants who didn’t have jobs were required to work on a specific goal that StalinRead MoreFrom the 1920’s up until his death Joseph Stalin was the leader of Russia. What ensued under600 Words   |  3 PagesFrom the 1920’s up until his death Joseph Stalin was the leader of Russia. What ensued under Stalin’s reign didn’t evoke emotions of love for country within the Russian people. Under Stalin the people lived in constant fear because of an epidemic within their own country, genocide of Stalin’s own people by Stalin himself. From 1934 up until 1939 a period of mass fear swept over Russia and at the helm Stalin with his (helpers?) of mass killings, the NK VD which are the internal police. Russia has alwaysRead MoreEssay on A Comparison of Hitler and Stalin1126 Words   |  5 PagesA Comparison of Hitler and Stalin Angelica Calvillo HIS 306: Twentieth-Century Europe April 26, 2010 Adolf Hitler’s Nazi Germany and Joseph Stalin’s Soviet Union are two controversial regimes. Hitler and Stalin were both Dictators of the countries they ruled. When Hitler and Stalin are compared, we can clearly see that each one of them were cold blooded killers. They are both responsible for an absurd amount of innocent deaths. Hitler is believed to be responsible for killing at leastRead MoreBio of Stalin1535 Words   |  7 PagesRuthless and ambitious, Joseph Stalin grabbed control of the Soviet Union after the death of V.I. Lenin in 1924. As a member of the Bolshevik party, Joseph Stalin (his adopted name, meaning Man of Steel) had an active role in Russias October Revolution in 1917. He maneuvered his way up the communist party hierarchy, and in 1922 was named General Secretary of the Central Committee. By the end of the 1920s, Joseph Stalin had expelled his rival Leon Trotsky, consolidated power, and was the de factoRead MoreEssay Paper1254 Words   |  6 Page sDeadrick Evans Professor Seal March 15, 2012 Life of Joseph Stalin Stalin was a great a man and on his way in life to some prosperous achievements. The man who turned the Soviet Union from a backward country into a world superpower at unimaginable human cost Stalin was born into a dysfunctional family in a poor village in Georgia. Permanently scarred from a childhood bout with smallpox and having a mildly deformed arm, Stalin always felt unfairly treated by life, and thus developed a strong