A CRITICAL APPRAISAL OF THE STRATEGIES OF EXPORTATION OF MADE IN NIGERIA GOODS (A CASE STUDY OF NIGERIAN EXPORT PROMOTION COUNCIL)
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A CRITICAL APPRAISAL OF
THE STRATEGIES OF EXPORTATION OF MADE IN NIGERIA GOODS (A CASE STUDY OF
NIGERIAN EXPORT PROMOTION COUNCIL)
ABSTRACT
A critical appraisal of the strategies of exportation of made
in Nigerian 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 source from periodical, journals and
newspapers.
Three hundred
and fifty person were interviewed as the sample of exporters with NEPC.
The data
analysis was based on oral interview and the major findings are as follows:
Ø The commandment of
the strategies adopted by Nigeria export promotion council.
Ø The positive
responses given by respondent in the quest of the research.
Ø The
strengthening and upgrading the status
of NEPC.
Ø The reduction of institutional bottleneck in
export.
Ø The establishment
of export processing zone.
Ø The abolition of
export taxes and provision of export incentives.
Ø Lastly, the
problems and prospect of Nigerian export promotion council (NEPC).
The project has four chapters; chapter one contains
introduction, background of the study, statement of problem, and objectives of
the study.
Chapter two has literature review, here some related
literatures were reviewed with sub topic as export development activities,
export financing and incentives, Encouraging Local export production, finding
export market, human resource training and development activities and
importance of export in Economic growth and development .
Chapter three deal with research methodology, data analysis
and presentation were some questions was attended to.
Finally, chapter four deals with the findings summary,
conclusion, recommendation and references.
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
The Nigerian Export Promotion Council (NEPC) was established
through Nigeria export promotion Decree NO 26 of 1976, and was formally
inaugurated in March, 1977. This Decree
was amended by Decree No 72 of 1979 which introduce some slight changes in the
membership of the governing council and formal provision made for the
establishment of the secretariat of the council. Nigerian export promotion Act CAP 306 and
Decree No 41 of 1988 amended which resulted in the redefining of its functional
responsibilities, thus strengthening it in properly spearheading and sustaining
a dynamic export development programme and implementing the various incentives
contained in the Export (incentive and miscellaneous provision) Decree No. 18
of 1986.
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
support in policy implementation accounting for about 80% of Nigerian Total
revenue.
In 1965, non-oil export accounted for as much as 76% of
Nigerian 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 these products.
However, the discovery of crude-oil since mid seventies
increased total export earning from 58% to 98% which is the peak of “oil boom”
as crude oil is sold at 40 dollar per barrel and which the worldwide oil glut,
price of crude oil drops slightly to 90%.
It is against this background that Nigeria need to re-appraise her
strategies in the exportation of non-oil exports.
Export promotion management was adopted early sixties by
international trade centres UNCTAD/GAT as strategies for effective enhancement
and development of international marketing of export products in developing
economic in world trade.
Export promotion is designed also to assist in boosting debt
servicing, purchase of basic input and responsible for promoting non-oil export
in Nigeria. It is against these backdrop
that the council was established.
Although, it has some success but suffice to say that it is
saddled with problems as yet to record excellent compared to its set
objectives.
STATEMENT OF PROBLEM
Is there bottleneck in NEPC strategies in export business?
Is the lack of adequate export incentive a log in wheel of
export business?
How NEPC programmes faces militating danger?
How the economy faces degradement?
OBJECTIVES OF THE STUDY
This study
objectively aimed at the following:
1. To
ascertain NEPC strategies of promoting Nigerian products abroad.
2. To
ascertain low percentage in foreign earning from non-oil products.
3. To
ascertain problems dancing NEPC in achieving its goals and objectives.
4. To
proper solutions towards revamping the economy by improved export promotion
business.
PURPOSE OF THE STUDY
The purpose of the study is to find NEPC
strategies towards the promotion of Nigeria products abroad.
The
harnessing of Nigerian non-oil export by providing export incentive and making
it the mainstream of our total exchange earning.
However, the
dwindling percentage earning from non-oil product, the worldwide oil glut and
the collapse of international oil prices with necessity to diversify this
mono-cultural economy.
Therefore,
NEPC should re-appraise to areas of failure with a view to revamping it and
making it live up to expectation and success.
SIGNIFICANE OF THE STUDY
The
importance if properly managed would lead to economic progress that is a means
of facilitating employment and enhancing the standard of living of its
citizenry; considering this fact, the federal government have tremendously
given attention to non-oil export(s).
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 business as apart from
surmounting the problems 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 flow immensely contend this risks.
SCOPE OF THE STUDY
This
critically evaluates trade strategy which encourages production for
international marketing, and in which there is an embedded bias.
It considers
NEPC techniques in the light of increasing the need for Nigeria to diversity
her external source of revenue and also take cognizance of the fact that the
council operate within the limited sectorial allocation of fund to the council.
Initially,
the study was to cover NEPC activities Nationwide, but constraint includes:
1. Time
2.
Finance
The study comprises South East Zone of NEPC such as:
a. Enugu
b.
Port-Harcourt
c.
Calabar
METHOD OF STUDY/LIMITATION OF THE STUDY
During the
time of this research work, the researcher employed some techniques which are
helpful – to him in getting information.
The necessary
information about the exportation of made in Nigerian goods was through oral
interview and desk research.
The
respondent number during the oral interview was high because exportation of
goods such as petroleum product is a main stay that have revamp the economy.
The
information received from desk research in Enugu was helpful to the researcher
for analyzing the important role played by exportation of goods, mainly
agricultural product in the early seventies and mid eighties before petroleum
took over in the development of our economy.
This two
procedures carried out help the researcher collect enough data which enable him
solve the problem at hand.
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