of government export promotion policies in the development of the export
business In Nigeria, which poses more or little threat do the export business
There are a lot of tasks ahead for the government of a country, but all the tasks
are quite effective.
of the export promotion policies will have to experience some restrictions
through the introduction of some policies. Many developer countries of the
world go through this process and for this, many exporting firms now has been
forced into untimely extinction. Those which still manage to rear their heads
are bedecked with a host of government policy restrictions. The deregulation
FOREX market resulting in the highest liquidity in the Nigeria economy, the absence of
effective policy for converting easily converted debt instruments into each in
the financial system. Banks can also assist this export promotion programme,
either in short term loan or even in the case of technical know-how if
It is quite clear
nowadays that the role of banks in international business and indeed export
promotion is highly elastic. As one move along with this research work, chapter
to chapter, all what we talk about will be revealed to you.
History of the Nigerian Export Promotion Council (NEPC)
and responsibilities guiding the Nigerian Export Promotion Council (NEPC)
of Firms in the Sample
History and Performance
of the study
of the Problem
and Limitations of Study
role of the Central Bank and Special Banks
Guidelines of Commercial/Merchant Bank
factors Affecting export growth
Bank of Nigeria (CBN) Financing
of Special Banks
brief Outline of the Chapter
of Research Questions Hypothesis
of Validity and Reliability
for Procession and Analyzing Collected Data
of the Methodology
Brief Introduction of the Chapter
of response and data
from primary source
of other relevant data
SUMMARY, CONCLUSION AND RECOMMENDATION
for Further Studies
1.1 BACKGROUND OF THE STUDY
Many countries in the world today have
at one time or the other been caught up in what some authors term "export
dilemma". Almost instinctively, they therefore recognize the aviate need
to develop their export base. One of the periodic publication of the GATT
(General Arrangement Tariffs and Trade) National of export promotion techniques
often reviews the activities and strategies of various nations to revitalize
exports. It is not a surprise that almost all the advanced industrial nations
of the world today had to go through a formalize, constant and programme of
export promotion. However, we find for example in this race, such developed
countries like Australia, Belgium, Canada,
Italy, United Kingdom and U.S.A. etc.
Recently, some less developed countries like Nigeria,
Togo, Turkey and India etc have decided
to follow suit.
Developing countries have realised the
importance of industrialization, this explains why they now endeavour to
promote industrial developments through direct public and private investment in
export business and also create favourable
industrial climate. This entire development programme lays emphasis on
industrialization as one of the goal of development.
1.2 STATEMENT OF THE PROBLEM
With the content of the Nigerian
economic, many export business concerns, especially those engaged in export of
manufactured products, processed agricultural food items and industrial
products has been passing through traumatic experience in terms of initial
capitalization and continuous financing. Many exporting firms has been forced
into untimely extinction. Those which still manage do rear their heads are
bedecked with a host of government policy restriction. The deregulation FOREX market
resulting in the highest liquidity in the Nigerian economy, the absence of
effective policy for conbverti9ng easily converted debt instruments into each
in the Nigerian financial system.
The unwillingness of the CENTRAL BANK to
discount instruments before their actual maturities, the unpreparedness of
Nigerian banks to fund long-term projects because they cannot always ensure
themselves of continued liquidity on the period prior to the maturity of the
loans and the general syndrome of capital flight resulting from the risk
avoidance attitude of private investors all combined to slim down the chances
of obtaining easy and quick financial instruments. Sequel to such bottlenecks
in the financial system of the country, the development of new venture is fraught
with host of teething capital problems to the extent that a large number of
them remain only on the drawing board without enjoying the benefits of
commencement and continued existence.
1.3 OBJECTIVES OF THE STUDY
The aim of this research work is to examine
the Effect of Government Export Promotion Policies on the Development of Export
Business in Nigeria.
The objectives of the research work include:
examine if the export promotion policies are favourable and encourage
investigate if the export promotion policies are been adhered to by exporters.
the government export promotion policies have any effect on the development of
export business in Nigeria
identify the external factors affecting the growth of export in Nigeria
1.4 RESEARCH QUESTIONS
Research questions are meant to
generate possible answers to different aspects of the research problem and they
should be clearly stated such that they act as guides in identification,
collection and analysis of relevant data. In order to achieve the purpose of
this research study, the study will attempt to provide answers to the following
are the effects of Government Export Promotion Policies towards the export
business development in Nigeria?
have the exporters been coping with the economic realities on sourcing funds
for their enterprises?
have the exporters been coping with the imposition of various policies on their
business in the country?
measures has the government (if any) put in place from time do time to promote
there been improvement in economic situation to the benefit of exporters?
are the possible effects of the political transition programmes of the
government administration policies on the economic situation and indeed, the
financial matters of the nation?
does the government in particular now assist in export business?
1.5 STATEMENT OF HYPOTHESES
In order to arrive at logical
conclusion and present valid suggestion, every research work seeks necessarily
to provide concrete and genuine answer to certain research hypothesis. For the
purpose of this study, the following hypotheses are postulated:
Government Export Promotion Policies has no impact on the export business
development in Nigeria
Government Export Promotion Policies have impact on the export business
development in Nigeria
has not put any significant measure in place to promote export business in Nigeria
has put significant measures in place to promote export business in Nigeria
have not been contributing progressively to the economic advancement of Nigeria
have been contributing progressively to the economic advancement of Nigeria
1.6 SIGNIFICANCE OF THE STUDY
General Agreement on Tariffs and Trade
(GATT) In 1978, declared the need for developing countries to expand their
export. One of THE reasons as derived from the presidential budget broadcast
(1996) is that it become a "sin quo non" that for Nigeria to charge
the mono-product identity open up other sources of national income so as to
increase her domestic and external debts, achieve a sustained economic and industrial
growth, it has to be export oriented.
The experience of South Korea steaming from her all
effort programmes of export development, speaks in favour of export promotion. South Korea
rose from a backward and impoverished agricultural society of the 1950s to what
it is today as an economic miracle and one of the most rapidly industrializing
and aggressively export-oriented economy of today.
It is on this note, the researchers
sees it imperative to embark on this study.
SCOPE AND LIMITATIONS OF THE STUDY
This study tendsto cover the specific
but significant area of export promotion. The effect of government policies on
development of export business in the country with special reference to Nigerian
export promotion council (NEPC). The role of Central Bank of Nigeria (CBN),
NEXIM bank and the financial houses will also be examined.
Sequel to the limited time at the
disposal of the writer as well as the financial constraints which beclouded the
research work, its scope has been necessarily limited to the careful study of a
single financial institution which may not be fully representative of the broad
exporting spectrum. It is however believed that exporting firms generally face
the same kind of problems as they all operate within the same complex climate.
It is pertinent to state however, that the findings, conclusion, suggestions
and recommendations herein made are subject to further investigations by
BRIEF HISTORY OF THE NIGERIAN EXPORT
PROMOTION COUNCIL (NEPC)
The Nigerian Export Promotion Council (NEPC) was legally
established through the Nigerian Export Promotion Decree No.26 of 1976 and was
formally inaugurated in March 1977.
After the Decree had gone through a series of amendment, the Nigerian
Export Promotion Council Amendment Decree no 64 of 1992 was promulgated to
enhance the performance of the council by minimizing bureaucratic bottlenecks
and increasing autonomy in dealing with members of the organized private
has settled for a structure, which provides for the following Departments:
i. Personnel and Administration;
ii. Finance and
Information and Incentives;