THE IMPACT OF EXPORT PROMOTION OF ECONOMIC GROWTH IN NIGERIA
CHAPTER ONE
Introduction
1.1 Background Of The Study
Foreign exchange is the means of payment for international transaction. It is made up of convertible currencies that are generally accepted for the settlement of international trade and other external obligation. Just like every other commodity, a market is established which works more like any other market having a supply curve, a demand curve and an equilibrium price and quantity. There are also conditions which are held constant (creteris paribus). When these conditions change, the curve shift and there is a change in the equilibrium price quantity. This market for currencies is known as the foreign exchange market.
The foreign exchange market according to the central bank of Nigeria is the medium of interaction between the sellers and buyers of foreign exchange. The seller of foreign exchange constitutes the supply while the buyers of foreign exchange constitutes its demand. The supply of foreign exchange is derived from oil exports, non-oil export, expenditure of foreign tourist in Nigeria, capital repatriation by Nigerians resident abroad etc.
The demand for foreign exchange on the other hand consist of payments for imports, financial commitments to international organizations, external debt service obligations etc.
Before 1958, when the central bank was established and the enactment of the exchange control act of 1962, foreign exchange was earned by the private sectors and held in balances abroad by commercial banks which acted as agents for local exporters. Another feature of this period was that agriculture exports contributed the bulk of foreign exchange receipts. The fact that the British pound sterling was at par with the Nigerian pound sterling with easy convertibility delayed the establishment of an active foreign exchange market.
However by 1958, when the central bank was established and subsequent centralization of foreign exchange authority. In banks, the need for a local foreign exchange market is paramount. Other factors that led to the evolution of the foreign exchange market in Nigeria include:
The changing pattern of international trade institutional changes in the economy. structural shift in production, etc.
By the early 1970’s, the official exchange receipt was enhanced following the sharp rise in prices and demand for crude oil exports which had by now displaced agricultural exports. The foreign exchange market experienced a boom during this period and there became a need for the management of foreign exchange resources. However, it was not until 1982 that comprehensive exchange controls were applied.
The exchange control system failed to evolve an appropriate mechanism for foreign exchange allocation. This led to the development of a dual exchange rate system, comprising of the first and second tier foreign exchange market which was adopted in September 1986. The first tier was managed while the second tier was subjected to market forces. Not only has there been a metamorphosis of the institutional frame work from second tier foreign exchange market (SFEM) to foreign exchange market (FEM) to inter bank foreign exchange market (IFEM) to Autonomous Foreign Exchange market (AFEM) etc, there have been frequent changes in operational guidelines and procedures. Various pricing methods, marginal and weighted average exchange rates determinations and the Dutch Auction System (DAS) among other have also been adopted.
All those aimed at ensuring more efficient allocation and utilization of scarce foreign exchange resources, to enhance the flow of capital into the country, stimulates domestic industrial production, promote export, increase revenue to the government, help reschedule our foreign debt at more profitable terms etc.
When there are fluctuations in foreign exchange rates, various economic activities are usually affected such as the purchasing power, balance of payment, prices of goods and services, import structure, export earning, government revenue, external reserves among others.
These prevailing instability in exchange rates and its effects on various economic variables, will be the areas of concentration of the research work.
1.2. Statement Of The Problem
Since September 1986, when the market determined exchange rate system was introduced via the second tier foreign exchange market, the naira exchange rate has exhibited the features of continuous depreciation and instability.
This instability and continued depreciation of the naira in the foreign exchange market has resulted in declines in the standard of living of the populace, increased cost of production which also leads to cost push inflation. It has also tended to undermine the international competitiveness of non-oil exports and make planning and projections difficult at both micro and macro levels of the economy. A good number of small and medium scale enterprises have been strangled out as a result of low dollar/ naira exchange rate and so many other problems resulting from fluctuations in exchange rates can also be identified.
This movement of the exchange rate along the path of depreciation since 1986 has raised a lot of questions on the impact of exchange rate policies on the Nigerian economy.
1.3 Objectives Of The Study
Objectives of the study
- To find out the impact of exchange rate fluctuation on economic growth of Nigeria.
- To examine the nature of the relationship between exchange rate fluctuations and economic growth in Nigeria.
- To offer some recommendations based on the findings of the study.
1.4 Formulation Of Hypotheses
For meaningful findings, conclusions and recommendations, a set of testable hypothesis based on available data will be necessary. In the course of this research work, the following hypothesis would be tested.
Hi: Exchange rate fluctuations has no significant impact on Nigeria Economy.
Hi: Exchange rate fluctuations has significant impact on Nigeria Economy.
1.5 Significance Of The Study
The study would identify the strengths and weakness of exchange rate policy and management, identify those economic variables that are mostly affected by instability in exchange rate and provide the general public with the awareness on the foreign exchange transaction and its impact on the economy.
The various findings of this would enable the government and financial authorizes to device, modify and adopt a better foreign exchange transaction for the economy.
1.6 Definition Of Terms:
1. Foreign Exchange
Foreign exchange is a means of payment for international transactions. It is made up of currencies of other countries that are freely acceptable in settling international transactions.
2. Foreign exchange market:
This is a medium of interaction among buyers and sellers of foreign- exchange with a view of negotiating acceptable prices for settling international transaction.
3. Exchange rate:
This is the price of one currency in terms of another
4. SEMI:
Second tier foreign exchange market. Under this system the exchange rate is largely determined by market forces.
5. AFEM:
Autonomous foreign exchange market. This exchange rate under this system are being determined essentially through market forces.
6. IFEM:
Inter bank foreign exchange market.
7. Dutch auction system (DAS):
This is a method of exchange rate determination through action where the bidders pay last bid rate that clears the market.
8. Dual exchange rate regime:
This situation exist when two exchange rates are in existence in an economy.
9. Marginal pricing method:
This is the method in which bid rates are arranged in a descending order of magnitude. The last bid rate at which available foreign exchange is exhausted (marginal rate) is the applicable exchange rate.
10. Exchange control:
This is a foreign exchange arrangement in which the government purchase all incoming foreign exchange and is the only source from which foreign exchange can be purchased legally.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
The Impact of Export Promotion of Economic Growth in Nigeria can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Export Promotion of Economic Growth in Nigeria" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Export Promotion of Economic Growth in Nigeria" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “Design and Implementation of Wireless Batch Counting Device for Brewery” be used as a guide for Computer Science (CS) Project?
Yes it can be used — This project deals on the design and implementation of Radio frequency RF based wireless batch counting device for brewery capable of counting the bottled drinks /product in a conveyor and displays the value numerically and wireless to it receiver installed about 100meters away. It is realized in top-down methodology using passive and active components available in the local market. This electronic system is designed in two functional units, the transmitter and the receiver and they communicate by the principle of electrical resonance using Rf transmission wave band. The bottles are sensed using an opto-couple, transmitted to the receiver using Rf module and displayed using a 2-digit seven segment display. The system is packaged in a portable plastics casing, the result …
Is the topic “The Procurement Practice in the Public Sector Economy; Problem and Prospects” recommended for Public Administration (PA) Project?
Yes it is highly recommended — Procurement Practice in the Public Sector Economy is the acquisition of goods and services by government and their subsidiary agencies such as parastatals. The aim of the study is to investigate the Problem and Prospects of Procurement Practice in the Public Sector Economy. The specific objectives to be considered to achieve the main objective of the study are to determine the prospects in achieving the objectives of the procurement performance metrics, determine the challenges associated with implementing the procurement performance metrics established by the Act, and propose strategic measures to enhance the implementation of procurement performance metric in Technical universities. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for …
Can this topic “Effect of Leadership Style on Workers Performance in an Organization” be used for Business Administration and Management (BAM) Project?
Yes it can be utilized for research — Leadership style plays an important role in the motivation of workers performance. The style of leading adopted by a manager can affect the performance of the subordinates. It is important that before any leader adopts any style of leading, he should first of all understand the nature and characteristics of the subordinates since this can affect his performance. The purpose of this study is therefore, to examine the effect of leadership style on workers performance among the staff of federal polytechnic of Nasarawa. For this purpose, data was collected through questionnaire from the administrative staff of the institution. The chi square test was used to analyze the data, from the findings it was discovered that the participative style of leadership …
Can this topic “The Impact of Female Labour Force on the Economic Growth of Nigeria (1980-2010)” be used for Economics Project?
Yes it can be utilized for research — A country’s labour force consists of everyone of the working age, typically above the age of seventeen and below the retirement age of sixty- five. They are characterized by those who are actively employed or seeking employment. The focus of this study is to determine the impact of female participation in labour force on the economic growth in Nigeria between the periods of 1980- 2010. The research also seeks to investigate the determinants of female contribution to economic growth in Nigeria. The objective of this study is to determine the relationship between female labour force and economic growth in Nigeria (GDP).The data used was sourced from the National Bureau of Statistics of various years as well as the CBN Statistical Bulletin …
Can the material for “Social Studies Teachers Perception on the Use of Community Resources in the Teaching and Learning of Social Studies in Some Selected Junior Secondary School” be used as a guide for Social Studies Project?
Yes it can be used — The purpose of this study was to investigate social studies teachers’ perception on the use of community resources in the teaching and learning of social studies in some selected junior secondary schools in Egor Local Government Area of Edo State. The sample of the study was made up of 100 social studies teachers in 20 junior secondary schools. Four research questions and two hypotheses were raised in the study to find out the teachers’ perception on the use of community resources. The research instrument used for this study was a modified 4-point Likert type scale questionnaire consisting of seventeen items. The instrument used was validated by the supervisor and two other experts in the department of educational psychology and curriculum studies. …
Can the material for “Corporate Governance and Financial Performance of Nigerian banks” be used as a guide for Business Administration and Management (BAM) Project?
Yes it can be used — The study examined the impact of corporate governance and financial performance of Nigerian banking industry using First Bank Plc as case study. Board composition, board size, CEO’s duality status and number of shareholders were proxies for corporate governance and return on asset, return on equity and net profit margin were proxies for financial performance. The objectives of the study were to examine the impact of corporate governance variables on return on asset, return on equity and net profit margin. Secondary data related to the variables of interest were obtained from the annual financial statement of the sampled bank between 2011 and 2016. The data obtained were subjected to the statistical techniques of descriptive statistics, Pearson correlation analysis and regression analysis. …
Can the material for “Design and Implementation of Computerized Electronic Voting System” be used as a guide for Computer Science (CS) Project?
Yes it can be used — Computerized E-voting refers to the option of using electronic means to vote in referendums and elections. E-Voting is an election system that allows a voter to record his or her secure and secret ballot electronically. The inefficiency of voting process in Nigeria has resulted in a lot of problems. These problems have continued to obstruct the peace of democracy in Nigeria because the choice of a capable candidate is not encouraged by the current system. The aim of the study is to Design and Implement a Computerized Electronic Voting System using Federal College of Education Technical Omoku as a case study. In achieving this aim, the following specific objectives were set out to design and develop a software platforms for …
Can this topic “Effects of Communication Barriers in Achieving Organizational Goals in Niger Gas” be used for Office Technology and Management (OTM) Project?
Yes it can be utilized for research — If communication is adequate in organizations, there will be proper coordination between the staff and the management and hence achieving the organizational goals on the other hand, if communication is on adequate, it hampers the smooth running of the affairs of the business and general a lot of problems. This study investigates the effect of communication barriers in achieving organizational goal in Niger gas. It is a case study conducted in Ememe Enugu, the purpose of the study was to identify the negative aspects that stress cause and the effect in the organization. Books relating to the topic were consulted to give theoretical frame work to the study. The population and the sample size of the study were 75. This …
Can the material for “A Survey of the Management Problems of Business Centers in Agwu” be used as a guide for Business Management Project?
Yes it can be used — The cardinal objective of this study are to survey the management problems of Business centers in Awgu Local Government area of Enugu state. Awgu as a geographical entry is full of men and women, people of proven integrity who have tested their power sin the distributive trade. This economic approach varies with economic culture of our people and therefore, requires the application of comparative law of requisite variety, which states that individuals with the widest variety of responses will usually control the environment and situation to their benefit. This study therefore is a token contribution towards attaining this aspiration as it tries to explain approaches that will lead to the side tracking of these barriers to business centers in Awgu . The …
Can this topic “The Importance of Planning and Control in an Organisation” be used for Business Administration and Management (BAM) Project?
Yes it can be utilized for research — The basic aim of the study is to show the significance of planning and control in an organization (A case study of General Cotton Mill Ltd. Onitsha, Anambra State). However, all essential elements of the significance of planning and control in an organization will fully be considered. In the first Chapter of this research work, we shall consider the background of this project work, its definitions of problem, its objectives, significance, scope and statement of problem at the end of this Chapter. In the second Chapter the researcher discloses the literature review, the origin of the project work, school of thoughts within the project work and different research design and methodology. The final Chapter of this research work concluded and recommended on the research …