A CRITICAL APPRAISAL OF THE STRATEGIES OF EXPORTATION OF MADE IN NIGERIA GOODS IS A TOPIC CHOSEN FROM MARKETING FIELD.

(Business Administration and Management)

A CRITICAL APPRAISAL OF THE STRATEGIES OF EXPORTATION OF MADE IN NIGERIA GOODS IS A TOPIC CHOSEN FROM MARKETING FIELD.

 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 hundred and fifty persons were interviewed as the sample of exporters with NEPC.

The data analysis was based on oral interview and the major findings are as follows –

  • The commandment of the strategies adopted by Nigeria export promotion council.
  • The positive responses given by respondent in the guest of the research.
  • The strengthening and the upgrading of the status of NEPC.
  • The reduction of institutional bottleneck in export.

                                TABLE OF CONTENT

                TABLE OF CONTENT

          CHAPTER ONE

1.1    INTRODUCTION

1.2    BACKGROUND OF THE SUBJECT MATTER

1.3    PROBLEM ASSOCIATED WITH THE SUBJECT MATTER

1.4    THE PROBLEM THE STUDY WILL BE CONCERNED WITH

1.5    IMPORTANCE OF STUDYING THE AREA

1.6    DEFINITION OF IMPORTANT TERM

1.7    REFERENCE

   CHAPTER TWO

2.1    LITERATURE REVIEW

2.2   THE ORIGIN OF THE SUBJECT MATTER

2.3   SCHOOLS OF THOUGHT WITHIN THE SUBJECT AREA

2.4   THE SCHOOL OF THOUGHT RELEVANT TO THE SUBJECT MATTER

2.5   SUMMARY

2.6   REFERENCE

         CHAPTER THREE

3.1    CONCLUSION

3.2    DATA PRESENTATION

3.3    ANALYSIS OF THE DATA

3.4    RECOMMENDATION

3.5    CONCLUSIONS

3.6    REFERENCES

                                           CHAPTER ONE

1.1                                      INTRODUCTION

         Harnessing Nigeria non-oil product for export is government policy of promoting the product by providing aurous export incentive as well as volatility of the international oil market. In 2002 this was almost jeopardize due to Federal government inability to realize its revenue projection from crude oil exports. The emergency of oil and the national economy since the early 1970’s making the sector the major contributor to government revenue as well as foreign exchange earning led to the neglect of other sector of the economy and created serious structural imbalance in the economy. From 58% in 1970’s oil contribute to total export earning increases to 98%. In 1982 it drops 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          BACK GROUND OF THE SUBJECT MATTER

Before the discovery of oil, the mainstay of the 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 Nigeria total revenue.

In 1965, non-oil export accounted for as much as 76% of Nigerian foreign exchange earnings; In 1970 it was 43% but in 1976 the share of non-oil export falls to 6% and by eighties, the sector remain structural imbalance in the economy and thereby had to import some of these product.

        However, the discovery of crude oil since mid seventies increased total earning from 58% to 98% which is the pick of oil boom as crude oil sold at $40 per barrel and when the world wild out glut, 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 centre UNITAD/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 boosting debts servicing , purchase of basic input and responsible of promoting non-oil export in Nigeria. It is against these back drop that the council was established 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 Nigeria export

 Promotion council (NEPC) in promoting Nigeria products abroad.

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 CONCERNED 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 sources of revenue. This obviously implies that Nigeria has paid les attention to the promotion and export of agriculture product such as groundnut, cocoa, cotton, palm oil, rubber, palm kernel as well as solid minerals.

        Consequently, upon the above development, the Nigeria export promotion council (NEPC) was established in 1976 and charge with responsibilities to develop marketing strategies which will lead to their recovery of the economy from its present doldrums. Again in 1988 the Nigeria export promotion council (NEPC) was reorganized with a view to direct the 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 log in wheel of export business?

3.      Is the fluctuating Naira- Dollar exchange value effect of non-oil export?

4.      Does Nigerian export promotion council (NEPC) programme faces or militating 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 enhancing the standard of living of its citizens considering this facts, 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 export business. It will help many small scale exporters to succeed in export business, apart from surmounting the problem in exportation, be acquainted with ever changing government policies, financing provisions and having business acumen.

         There is a lot opportunities in export business but ignorance scarce 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 where by 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 material are subsequently used for exports.

6.      TERMS OF TRADE

The ratio of the price of imports to the price to export is not the same.

7.      VALUED ADDED TAX (VAT)

This was introduced in Britain, 1973 and levied in all the combined features of both single and multi-stage taxes applied at each transaction but only to the value added. The intention of VAT is that the exporter will bear the tax.

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