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EXPORTATION OF “MADE IN NIGERIA” GOODS AS A TOOL FOR THE DEVELOPMENT OF THE NIGERIA ECONOMY
1.1 BACKGROUND OF THE STUDY
The issue of exportation of goods inNigeriadates back to the beginning of this century. It importance cannot be over emphasized because it contributed immensely to the development of theNigeriaeconomy.
After the amalgamation of the two protectorates that formedNigeriain 1914, exportation of goods become an economic element but mainly agricultural materials which were semi-finished.
After independence, exportation became the main stay of the Nigerian economy. It stood as the only sources of foreign exchange for the government. Today, it has been developed to a very great extent that it become a development stimuli of the economy.
Exportation is the act of making available, goods produced in one nation to other nations. It’s an international trade variable. It is difficult to write a details description of export, it importance and implications because writers have not been interested in this field.
The exportation of made inNigeriagoods is in its infancy. This study tends to emphasize the importance of exportation of made inNigeriagoods in order to ensure a fast growing economy.
What constitutes export, the benefit of export etc will be take into consideration.
1.2 STATEMENT OF PROBLEMS
Nigeriahas been marked as one of the industrialized state in African exporting some of her goods. It has also been showed that agricultural products constituted export in the early stage.
From the 1970’s,Nigeriahas been known to be endowed with abundant natural resources. Industrial institution has taken the economic sphere ofNigeria.
Despite this great achievement in theNigeriaeconomy, its has been observed over the years that most made inNigeriagoods as tool for the development of theNigeriaeconomy. To find out what constitutesNigeriaexport and its economic effect.
To find out which reason account for the non-exportation ofNigeriagoods. Can the goods be exported and how? These are the problems the researcher is faced with and for which this study will be to solve.
1.3 PURPOSE OF THE STUDY
Motivation and the interest for his study is stimulated from the non-exportationNigeriagoods dwindling exports and continued underdevelopment of theNigeria’s economy.
Specifically the purpose of study are:-
1) To ascertain how made inNigeriagoods can be exported
2) To ascertain what should constitute export inNigeria
3) To know what caused the n on-exportation of goods inNigeria
4) To know the effect of export on the economy
5) To ascertain the factors leading to effective exportation.
1.4) RESEARCH QUESTIONS
The study is faced with the following research questions:
- What constitute export inNigeria?
- Can other goods be exported?
- How can they be exported?
- CanNigeriaexport all her goods?
- Which do you think is not liable to be exported?
- ShouldNigeriasatisfy all her citizens before exported? Why
- Do you preferNigeriaexporting only one of her goods to two or more?
- Is export regulated, How?
- Who is responsible for export regulation?
- What are the factors that restrain export of goods inNigeria?
- Why the need forNigeriato export?
1.5 SIGNIFICANCE OF THE STUDY
This study when completed will emphasize the importance of exportation to exports, manufactures and the government.
They will be familiar to the Economic effect of exportation of goods produced or manufactured by them.
They will comet to know how, they can go into the production of goods suitable for export.
Finally, the importance of export will be exposed to every individual as a result of it impact on the general economy.
The study could have been extended to other areas of study such a level of demand by consuming nations, their economy, world market prices of commodities and such other area as, international relations, economic sanctions etc. But for the purpose of effective study, the researcher have decided to concentrate on the importance of export and its long run effect on the economy.
The following are some of the problems that hindered the researcher study
1) Financial constraints
The researcher could not afford the money to carry out move research work on the subject.
2) Lack of Time
Enough time was not given to the researcher to effectively collect enough data for the work.
3) Inadequate of Secondary Data
The secondary data available are not enough, this hindered the researchers ability to gather enough information to effectively carry out the work.
1.8 DEFINITION OF TERMS
Export: These are goods produced in a country which are not
Goods: These are the outcome of production
Development: This is a change brought to a place as a result of
growth in economic activities.
Economy: The general activities that take place in a given areas
Foreign Exchange: This refers to the currencies of consuming
Raw Materials: The early stage of development of a particular
thing or place.