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A CRITICAL APPRAISAL OF
THE STRATEGIES OF THE EXPORTATION OF MADE IN NIGERIA GOODS
ABSTRACT
A critical appraisal of the strategies of exportation of made
in Nigeria goods is a topic chosen from marketing field.
The research was conducted mainly to examine the strategies
adopted by NEPC in exportation of goods made in Nigeria. For effective research on this topic both
primary and secondary data were used to elicit information from sample studied
the primary source of data were response from the personal interview, while
secondary sources from periodical journals and newspapers.
Three data analysis was based on oral interview and the major
findings are as follows:
ØThe commandment of the strategies adopted by Nigeria export
promotion council.
ØThe positive responses given by respondent in the question
of the research.
ØThe strengthening and upgrading the states of NEPC.
ØThe reduction of institutional bottleneck in export.
CHAPTER ONE
1.1
INTRODUCTION
Harnessing Nigeria non-oil product for export is government
policy of promoting the product by providing various export incentive as well
as volatility of the international oil market.
In 2002 this was almost in jeopardize due to Federal Government
inability to realize its revenue project from crude oil exports. The emergency of oil and the national economy
since the early 1970’s making the sector the major contribution to government
revenue as well as foreign exchanging earning led to the neglect of the other
sector of the economy and create serious structural imbalance in the
economy. From 58% in 1970’s oil
contribute to total export earning increases to 98% in 1982 dropping slightly
to 90% in 2000. in spite numerous
government effort, to promote non-oil export the sector remain depressed,
accounting for between 3.5%of budgeted foreign exchange revenue.
1.2
BACKGROUND OF THE SUBJECT MATTER
Before the discovery of oil, the main stay of Nigeria economy
was agriculture such as palm oil, cocoa, cotton groundnut, rubber, palm kernel
etc which enjoyed encouragement and supports in policy implementation
accounting for about 80% of Nigeria total revenue.
In 1965, non-oil export accounted for as much as 76% of
Nigeria foreign exchange earning, in 1970 it was 43% but in 1976 the share of
non-oil export falls to 6% and by mid eighties, the sector remain structural
imbalance in the economy and thereby had to import some of this product.
However, the discovery of crude oil since mid seventies
increased total earning from 58% to 98% which is the peak of oil boom as crude
oil quite, price of crude oil drop slightly to 90%. It is against this background that Nigeria
need to re-appraise her strategies in the exportation of non-oil export.
Export promotion management was adopted early sixties by
international trade centers UNCTAD/GAT as strategies for effective enhancement
and development of international marketing of export products in developing
economics in world trade.
Export promotion is designed also to assist in booting debts
servicing, purchase of basic imput and responsible of promoting non-oil export
in Nigeria. It is against these backdrop
that the council was establish by decree 26 of 1976 under Murtala/Obasanjo
regime and later in 1988 under Ibrahim Babaginda, NEPC was revisited and
reorganized under decree 41 of 1988.
Although, it has some successes but suffice to say that it is
saddled with problems as yet to record excellent compared to its set
objectives.
1.3 PROBLEM
ASSOCIATED WITH THE SUBJECT MATTER
The problem associated with the subject matter is listed
below;
1. To evaluate or
ascertain the management strategies adopted by the Nigerian Export Promotion
Council (NEPC)
2. To ascertain
the root causes of low percentage in the foreign earnings from non-oil export.
3. To ascertain
problems facing NEPC in achieving its goals and objectives.
1.4 THE
PROBLEM THE STUDY WILL BE CONCERBED WITH
Since the mid eighties when the world oil glut started,
Nigeria government has seen the need to diversify her economy rather than
maintain its present monostructured economy with petroleum oil as its major
source of revenue.
This obviously implies that Nigerian has paid less attention
to the promotion and export of agriculture product such as groundnut, cocoa,
cotton, palm oil, rubber, and palm kernel as well as solid minerals.
Consequent upon the above development, the Nigeria Export
Promotion Council (NEPC) was establish in 1976 and charge with responsibilities
to develop marketing strategies which will leads to they recovery of the
economy from its presents doldrums.
Again in 1988 the Nigerian Export Promotion Council (NEPC)
was reorganized with a view to direct to council towards an increased
productivity and more positive results but up till now, the proceeds from
non-oil products have not improved.
The specific problem the study will be concerned with
includes the following:
1. To what extent
have the bottleneck in export business discouraged potential exporters?
2. Could lack of
adequate export incentives be a coq in the wheel of export business?
3. Is the
fluctuating naira – dollar exchange value effect of the level and value of
non-oil export?
4. Does Nigeria
export promotion council; (NEPC) programmes faces or indicating danger?
1.5
IMPORTANCE OF STUDYING THE AREA
The importance if properly managed would lead to economic
progress which is a means of facilitating employment and enhancing the standard
of living of its citizens considering this fact, the federal government has
tremendously given attention to non-oil exports.
Also it will be of immense benefits to the organized private
sector and public sector to be involved in export business. It will help many small scale exporters to
succeed in export businesses, apart from surmounting the problem in
exportation, be acquainted with ever changing government policies, financing
provisions and having business acumen.
There is a lot of opportunities in export business but
ignorance scare many small scale exporters away but few immensely contend these
risk.
1.6
DEFINITION OF IMPORTANT TERMS
The study talks about the following terms which are very
important;
1. QUOTAS
It is a system of limiting import by fixing their permitted
value in advance for a period.
2. LETTER OF
CREDIT
it is a financial document issued by one bank to
correspondent bank instructing it to pay money to a third person.
3. TARIFF DUTIES
This is whereby one imposed for one or two reasons for
revenue purpose and protection of home industries.
4. DUMPING
This is where the selling below cost in the export market.
5. DRAWBACK
The repayment of tariff duties on goods and raw materials are
subsequently used for export.
6. TERMS OF TRADE
The ration of the price of imports to the price of export is
not the same.
7. VALUED ADDED
TAX (VAT)
This was introduced in Britain, 1973 and levied in all the
combines features of both single and multi-stage taxes applies at each
transaction but only to the value added.
The intention of VAT is that the exporter will be the tax.
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