Thursday, 30 June 2016

Problems And Prospects Of Export Finance In Nigeria

This structure deformity interest in Nigeria economy since colonial era finally gave way to restriction of the economy in July, 2000 through the structural adjustment program (SAP). The programmed had its prime objective in the effective altering structuring of the consumption and production pattern of the Nigerian economy using market mechanic and power relation of the naira as its major tools.

            This single effort redirected the focus of the government financial, non financial institutions and individual investors in the country towards expanding the economic frontiers of Nigerians away from the non effect status to diversity export orientation. A situation that required among the encouragement.

Title page
Table of contents

1.0 Introduction
1.1 Statement of the problem
1.2 Research Questions
1.3 Objectives of the study
1.4 Research Hypothesis
1.5 Significance of the study
1.6 Scope and limitations of the study
1.7 Definition of terms
1.8 Plan and organization of the study

2.0 Literature Review

3.0 Methodology
3.1 Sources of data
3.2 Method of data collection
3.3 Method of data analysis

4.0 Data presentation and analysis

5.0 Summary, conclusion and recommendations
5.1 Summary of findings
5.2 Conclusion
5.3 Recommendations

The arguments other people of the improved effort financing in Nigeria are among other factor as: it allow for the diversification on crude oil and allied product from the present dependences on crude oil and allied product to the non-oil sector of the economy. Apart from this proved export financing will equally improves the foreign exchange of the country is positive effort.

The final realization and the subsequent establishment of NEXIM was rigidly observed. According to Musa Badamosi (years) this in the face of global economic recession, export, import bank operation has become  a recovery measure used in resuscitating ruling economics of both developed and developing countries.
            Import –Export banking has assured a global phenomenon on farm Japan to Jamaica from China to USA today, Nigerians has also established a similar bank called a Nigerian import-export bank (NEXIM) with the mandate of promotion the country economic recovery. The dream to have a specialized financial agency in charger of import financial was a result of various step taken from the delay was the mobility of the federal government to decide on the type of export import agency that will have as its that argued that the economy needed.

Until recently, there has not been existence of deliberate effort by the government to look into the problem faced by the exporters, potential and their bank, interim of sources financial at the right rate, place and at the right condition for their exports.

Even with the ever declining growth of loadable funds for exports of non-oil [products the country real sector economy, more so with simultaneously decided in revenue generated from oil export but the recent sudden interest could be attributed to urgent  need to improve the welfare state of the majority of the masses through positive growth in the economy. As such there was the country by divers, tying the sources of foreign exchange earning. Thus in effort could be control made possible by the easy available of finances to the exporter of non oil; product and the agencies responsibility for their provision.

The greatest aspiration of every exporter is to get the need financed at the right quality, time condition and the rate, this aspiration have only remain a more dream. As a result, what have remain and a common sight is that every potential exporter that goes to the exporting business with greatest enthusiasm, leaves the sector classified and disappointed.
            In view of this experience, the NEXIM have and till task to see the happiness of the participants in the export sector of the economy, as such blow, that NEXIM will be confronted with the study among other things sees         
i) How NEXIM solve the problem of lacks enthusiasm on the part of the financial institution to participate actively in the non oil export sector of the economy.
ii) Flow the issue of death information in the export financing sector grapple with
iii) How constant fluctuation  of producer prices will be established to ensure that changes in the produce prime will do no always direct effort in the exporter.
iv) How the risk in the export market could be shared by the government with the financial institution
v) How the export will be easy access to their foreign exchange by easy preparation and retention process.
vi) How legal technical professional advice will be made available to the exporter will not be exposed directly to its process

The importance of this research work can be over decorated in view of the constraints fluctuation in its Nigerian exports crude oil the constant fluctuation until prices above all, the study is very important for these reasons.
i)  Export financial will further attract to the export sector to invest.
ii) Flow the study is significance because with highlight of the various incentive available exporterand there will be exporter the economy boosted with fond of fund and participant
iii) The study is important because a position export growth will lead to increase in foreign exchange with it resultant increase in foreign reserve
iv) The study export financing equally important when the usefulness of the information that it will provide to the rill

This research book will be carried out under this hypothetical statement he more the time spent in the  process of export product to exportation purpose the lower will be the revenue desirable from that sources.

This research will be limited to the function of the Nigerian export-import bank (NEXIM) as it affair financing problem and effort made to realize the purpose for which it was set up. Effort will also be made to look at the same other close by export financial.
i) The time and space available for this study could not be enough to carry out the intended detail and voluminous work.
ii) The data used in this research work were basically secondary as a result, there is probability that they (data) might have been manipulated originally to suit their limited purpose.
iii) Also, the conduction made then could not be decided from judgment might be committed in this study 
The following terms will have contextual meanings this research work:
i) Advising Bank: This is the bank that advises the exporter, the bank opened a letter of credit in this failure
ii)Banker Acceptances: This is a situation whereby a bank guidance then payment of a commercial paper on maturing. This is done by the bank another sing the commercial paper
iii)Consignee: A person or company to which the little of good is consigned (buyer)
iv)Letter of Hypothentication: This is a letter al companying documentary bills, given a banker/lie in exchange for money advances on them.
v)Lien: This is the right retain property belonging you another until a debt due from property to the professor of the property is paid. 

Financing of expert specifically financing of expert specifically non-oil export passes through three major stages their financial peculiarities and complexity as analyzed below:

Exporters are expected to be fully acquired in their areas of specialization by participating in exporter activities and programmes that will meet the exchange control regulation. The intension of the federal government, hence the objective of the exporter policies are to ensure that only credible and experienced  exporter engaged in export activities because of the importance of the effort business play in portraying the international usage of the nation.

This research book will be carried out under this hypothetical statement he more the time spent in the process of export product to exportation purpose, the lower will be the revenue clerivable from that sources.

This refers to plan of action and framework employed in collecting, sorting, and analyzing the data for the research work. It would reveal the steps of activities to be taken to determine the extent and the kind of information required for analysis This would invariably form the basis of testing  the formulated hypothesis.  For the purpose of effective treatment of this subject matter export financing in Nigeria, problem and this suggest matter export financing in Nigeria, problems and this subject matter export financial in Nigeria, problems and prospects, data will be entirely collected from internal services that is, all relevant data that could within export financing.
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