THE NIGERIAN EXPORT PROMOTION COUNCIL AND NIGERIA'S ECONOMIC DEVELOPMENT
THE NIGERIAN EXPORT PROMOTION COUNCIL AND NIGERIA'S ECONOMIC DEVELOPMENT
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Date
1999-10
Authors
ALIYU, ZUBAIRU SAMBO
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Abstract
One of the characteristics of underdevelopment is the existence of a
mono-cultural economy. This proves to be true in the case of Nigeria. Up to
the late 1960s and early 1970s, Agriculture was the main stay of the economy.
With the advent of crude oil, especially after the Arab - Israel War of 1973,
oil began to replace Agriculture to such an extent that by the 1980s up to the
present day over 90% of the foreign exchange earnings comes from its export.
Nigeria Export Promotion Council was set up by the government to
help diversify the economic base of the country. Thus the effective
management of this council will contribute immensely towards Rapid
economic development.
The organization and concept of export promotion has been in
existence for more than two decades in Nigeria, the meaning, importance and
activities vis a vis contribution to the economic development of the nation are
still wrapped in obscurity.
With the discovery of oil and its subsequent exportation, the nations
export posture staffed from the exploration of agricultural products and other
form of mineral resources to mainly oil. Due to the recent decline in the price
of oil, the need arises for the nation to diversify to no oil export in order to
have a balance of trade.
For the country to achieve this, the study attempts to look at the structure,
functions, objectives and activities of the Nigerian export promotion council,
as well as its problems and implementation of its various incentives schemes
to assist Nigerian exporters.
Some functions of the council include to spear head the national effort
in export development, to assist and advise government in the creation of
necessary export infrastructure, to coordinate and monitor export promotion
activities in Nigeria.
The NEPC is also without its problems. This has made the registration
of exporters to continue to drop from 2,966 in 1995 to 1,349 in 1996 and
1,030 in 1997. These problems are: research and development, technological
changes, price competitiveness, cost of production, smuggling, lack of
documentation and political instability.
The NEPC implements regular incentive scheme in keeping with
government policy stance of diversification of the country export base,
through the promotion of non oil export. The export incentive schemes are
the Duty Draw back scheme, Export Expansion Grant Fund (EEGF)
ECOWAS Liberalization Scheme (ELS) and the manufacture In Bond
Scheme (MIBS).
Some recommendations suggested for the NEPC to correct its
problems are also highlighted in the study, they are; producing quality
standard products, human resources should be highly trained, the various
incentives schemes to be adequately publicized to manufacturers and
smuggling to be seriously checked.
Description
A PROJECT SUBMITTED TO THE DEPARTMENT OF BUSINESS
ADMINISTRATION, FACULTY OF ADMINISTRATION, AHMADU
BELLO UNIVERSITY, ZARIA, IN PARTIAL FULFILLMENT
OF THE REQUIREMENTS FOR THE AWARD OF MASTER IN
BUSINESS ADMINISTRATION (MBA) DEGREE
OCTOBER, 1999
Keywords
NIGERIAN EXPORT,, PROMOTION COUNCIL,, NIGERIA'S ECONOMIC DEVELOPMENT.