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Product Category: Projects
Product Code: 00002164
No of Pages: 145
No of Chapters: 5
File Format: Microsoft Word
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ABSTRACT
This research is based on the
government polices on non-oil export [agriculture] and the growth of the
The empirical
result reveals that the oil export and non-oil export are able to explain 90.2%
and 73.3% of the total variation in the level of gross domestic product
respectively. Also agricultural export, oil export, non-oil export and tariff
are all positively related to gross domestic product and are able to explain
87.6% of any systematic variation in gross domestic product. It was concluded
that non-oil export, oil export and agricultural export has a significant
impact on the growth of the Nigerian economy.
It was
recommended among others that the need for local sourcing of raw materials and
input through agriculture should be intensified; Agricultural activities should
be encouraged and improving the technological and infrastructural development
and there should also be stable political and economic environment for the
attraction of foreign capital and technology and periodic review of export
policy packages.
TABLE OF
CONTENTS
TITLE PAGE………………………………………………………i
CERTIFICATION……………………………………………….iii
DEDICATION…………………………………………………….iv
ACKNOWLEDGEMENT………………………………………...V
ABSTRACT……………………………………………………...vii
TABLE OF
CONTENTS…………………………………….….ix
CHAPTER ONE…………………………………………………
1
INTRODUCTION…………………………………………..1
1.1 BACKGROUND TO THE
STUDY……………….1
1.2 STATEMENT OF THE
PROBLEM……………….9
1.3 OBJECTIVES OF THE
STUDY…………………13
CHAPTERTWO…………………………………………………22
LITERATURE REVIEW…………………………………22
2.2 PROMOTION OF THE EXPORT IN
NIGERIA.23
2.3
2.4 CHALLENGES OF EXPORT BUSINESS IN
2.5 EXPORT PROMOTION AND
GLOBAL
ECONOMIC
CRISIS………………………………50
2.6 ANALYSES OF GOVERNMENT
POLICIES AND
NIGERIAN FIRMS EXPORT MARKETING
STRATEGY…………………………………………67
2.7 TECHNOLOGY RELATED FACTORS AS DETERMINANTS OF EXPORT POTENTIALS OF
NIGERIAN MANUFACTURING FIRMS………………………………………………………78
2.8 EXPORT DIVERSIFICATION AS A
PROMOTION
STRATEGY FOR INTRA ECOWAS TRADE
EXPANSION………………………………………………86
2.9 FOREIGN DIRECT INVESTMENT, NON-OIL
EXPORTS, AND ECONOMIC GROWTH IN
CHAPTER THREE……………………………………………93
3.1 THEORETICAL FRAMEWORK AND METHODOLOGY………………………………….93
·
RESEARCH METHODOLOGY………………..98
·
METHOD OF
DATA ANALYSIS……………..100
CHAPTER
FOUR……………………………………………..101
4.1 DATA PRESENTATION, ANALYSIS AND INTERPRETATION
OF RESULT……………………………………………101
4.1 DATA PRESENTATION…………………………101
4.2 ANALYSIS…………………………………........
4.3 PRESENTATION AND INTERPERPRETATION OF REGRESSION OF
RESULT…………………………………………………..107
CHAPTER FIVE……….……………………………………..122
SUMMARY, CONCLUSION AND RECCOMMENDATIONS
5.1 SUMMARIES OF FINDINGS…………………122
5.2 CONCLUSION………………………………..…123
5.3 RECOMMENDATION……………………………124
BIBLIOGRAPHY………………………………………127
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
The agricultural sector in
The vast employment opportunity and the
quest towards diversification of the revenue by the federal government and
development agencies have shifted attention towards the informal and
agricultural sector. For example ,to sustain the agricultural production in
Nigeria, the World Bank developed a project called Agricultural Development
Projects (ADPs) which was designed to enhance the production of agricultural
outputs in Nigeria .As at the year 1989 ,the ADPs were situated in 19 states in
Nigeria as at then .The efforts of the ADPs
were geared towards enhancing agricultural productivity (World
Bank,2001).There have been other national programmes established to boost
agricultural production in Nigeria .Notable among them was the Agricultural
Credit Guarantee Scheme Fund (ACGSF) in 1977.
The ACGSF has lofty aims especially the
need to make the agricultural sector lucrative. However, it has not lived up to
its bidding, which calls for empirical assessment with a view of understanding
the resultant effect from the huge investment from the government into the
sector. This is germane given the increase in the capital base of the fund from
a start-up capital ₦100million to a current capital base
of ₦6billion in 2006.Thus, there is need to investigate if this
huge investment put in place to encourage agricultural production has actually
had significant impact on export especially non-oil export, which the
agricultural constitute a sizeable proportion. This is the main motivation for
this study.
In
Expectedly, the
role of exports in economic performance of developing countries has become one
of the more intensively studied topics in recent years. The major impetus of
most studies on this relationship is the export-led growth (ELG) hypothesis
which intensively represents a dominant explanation in this context. The ELG
hypothesis states that the growth of exports has a favorable impact on economic
growth. However, the empirical evidence on the casual relationship between
exports and growth is mixed. In particular, available time series studies fails
to provide uniform support for the ELG hypothesis while most cross-sectional
studies provide empirical evidence in support of the hypothesis. The
liberalization process in developing countries has increased not only trade but
also FDI flows. Thus, FDI has become an important link in the export-growth
relationship.
Over all,
empirical evidence in the last few decades indicates that FDI flows have been
growing at a place far exceeding the volume of international trade between 1975
and 1995,the aggregate stock of FDI rose from 4.5% to 9.7% of world GDP with
sales of foreign affiliates of multinational enterprises substantially
exceeding the value of world exports (Barrel and Pain,1997).The United Nations
Conference on Trade and Development, UNCTAD(2007) reports that FDI flows to
Africa has increased from $9.68billion in 2000 to $1.3trillion in 2006.The
UNCTAD World Investment Report 2006 shows that FDI inflow to Nigeria, who
received 70% of the sub-regional total and 11% of Africa’s total. Out of this
Nigeria‘s oil sector alone receive 90% of the FDI inflow.
The performance
of the
Aggregate
output growth measured by the Gross Domestic Product (GDP), according to the
Central Bank of Nigeria (CBN) 2007, economic report for third quarter of 2007,
was estimated at 6.05percent, compared with 5.73percent in the second quarter.
The growth was driven by the non-oil sector which was estimated at
9.47percent.This growth was driven mainly by major agricultural activities yam,
Irish and sweet potatoes, groundnuts and maize.
The favorable
economic environment has made countries in SSA increasingly attractive as
destination for private capital inflows.Net private capital inflows reached
record in levels in 2007, led by strongly FDI inflows. However, the bulk of FDI
is still focused on a few countries and targeted mainly at extractive
industries, particularly the petroleum sector, based on evidence from
cross-border mergers and acquisition related inflows. But deposit outflows from
some oil exporters notably Libya, Nigeria and Russia displayed some of the
highest correlations, while for others including Saudi Arabia and other Middle
Eastern Oil exporters, the correlations were only modest Libya, Nigeria and
Russia also accounted for one-half for all deposit out-flows accounted for
one-half of all deposit out-flows from oil-exporting countries, and in each of
these countries deposit out-flows accounted for one-half or more of total gross
capital outflows. These huge capital outflows are linked mainly to extractive
FDI and calls to question the ability of FDI to drive growth effectively in
this country.
It is not worthy
however, that despite the observe increasing inflow of FDI, there has not been
any satisfaction attempt to access is contribution to
1.2 STATEMENT OF
THE RESEARCH
However, the
study(NEPC 1996),also noted inspite of the countries product advantage and
various export potential some exporting firms have problems of what product to
offer for export, how to source/manufacture to which market to export,
considering the competition that exists in foreign markets. How to finance
export and cope with the country export procedures and documentations?
Another problem associated with the
country’s product exporting is the consumer perception of made–in-Nigeria goods
by local and foreign consumers. It is argued that a nation without a pride is a
nation which has not discovered itself. Iwok (1996) remark that such lack of
pride in home made goods is an indication of immaturity and under development.
I see the possession of great pride in home made goods as a pre-requisite and
sustenance of economic progress by any developing country. Today a nation can
earn the highest level of respect and good image by possessing pride in its
goods; it must determine its destiny by developing pride in its goods.
The first step in
enhancing Nigerian firms ‘product advantage in export marketing is to overcome
the age-old colonial mentality of assigning superiority to foreign made goods
and regarding Nigerian product as inferior. We cannot convince other countries
as to quality of our product made in
Domestic
competition encourage firms to explore foreign markets when they face stiff
competition in local markets(1970) and Cavusgils (1984),similarly found that
some companies see export as a way of relief in a very competitive market. It
was also argued that Turkish manufacturers initiated export because of
competitive pressures and saturation of domestic market rather than
differential advantages (Karafakioghi and Harcar (1990).In the same lightproof
(1982) found that competition in European market had an advantage because
competing firms and importers had credit extension as their government provided
incentives for the manufacturing of consumer and industrial goods. Competition
was also found to differ across nations as it had sometimes hindered or
frustrated firms export marketing Rosenbloons and Larsen (1991).
The researcher
tends to find solutions to the following problems:
i. What are the
need of government policies on non-oil export (Agriculture) and the growth of
ii. What are the constraints towards non-oil
export on the growth of
iii. How can government policies aid exports in
1.3 OBJECTIVES
OF THE STUDY
Some economists
do not see this as the only means for a concerted export drive. This is the
controversy that existed between in-ward looking and out-ward looking (Autarky
and Open) strategies of development, delinking and complete Autarky have been
considered as viable alternative development strategies by those not in favor
of international exchange. The
According to Morton and Tullock
(1978).International trade brings gains to nation whether rich or poor and that
it acts as a stimulus to growth. Some observers through accepting the above
assertions are of the view that the growth is in-significant among the
developing countries for the reason that they are less developed and lack responsiveness
to market opportunities and dynamic influences of international trade that is
characterized of developed market (Basile, R.2001).
Others hold that
the reason for limited gain from international trade by less developed
countries is the inadequacy of market opportunities. They point to the slow
growth of export earnings from many primary commodities the rest attendance in
less developed countries, current degrees of specialization in such export and
difficulties of obtaining access to overseas market for a more diversified
range of export product.
Although the
level of development and growth of export trade is below the desired one as a
result of the mono-cultural nature of the
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