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Chibuike R. Oguanobi, Geraldine E. Nzeribe, Chukwunonso S. Ekesiobi: Export promotion
in Nigeria: has the impact of banking sector reforms been felt?
To collect and disseminate to local manufacturers and exporters
information on foreign markets.
To Provide technical assistance to local exporters in such areas as export
procedures and documentation, transportation, financing, marketing techniques,
quality control, export packaging, costing and pricing, publicity and in other similar
areas.
To maintain adequate and effective representation in other countries.
To provide, directly or jointly, with training institutions, training for its
staff and assist with the manpower development of the export community in Nigeria.
To organise and plan the participation of Nigeria in trade fairs and
exhibitions.
To administer grants and other benefits related to export promotion and
development.
To undertake studies of the current economic conditions, with special
attention to the export sector with the aim of advising government on necessary
policies and measures.
To co-operate with other institutions on matters relating to export
financing, export incentives and specialized services to exporters.
To establish specific trade promotion facilities in Nigeria and in other
countries including the establishment of permanent showrooms at important
commercial centres in other countries.
To engage in export promotion publicity
To pursue the simplification and streamlining of export procedures and
documentation on continuous basis.
To assist in finding appropriate solutions to practical problems
encountered by exporters in the process of exportation.
To plan and organise outward trade missions and provide support from
Nigeria.
To provide support services to inward trade missions from other countries.
To perform such other functions as maybe conducive to the achievement
of the objective of the Export Decrees.
3. Nigeria’s foreign trade: a brief statistics
In the past decade, Nigeria‟s trade with other countries of the world has
fluctuated severely. As shown in table 1, by 2005, Nigeria imported from other
countries goods worth €19,714 million, a 19.4 percent growth from the 2004 figure
of €16,510 million. In 2006, import grew by 18.1 percent. It grew further by 22.2
percent in 2007, 30.1 percent in 2008 before falling by 15.9 percent in 2009. By
2010, the country experienced a 15.3 percent growth in its import which later grew
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