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Bullion

Authors

Kola D.

Keywords

Non-oil exports promotion, SAP, Good and services.

Abstract

The most recent data available on the structure of the Nigerian ^ economy are those for year 2000, which reflect the current structure and the main features of the economy. (see Annex 1) They indicate that the agricultural sector accounted for 41 .5o/o of the nation's GDP, while manufacturing contributed 5.95%, finance and insurance, 9.59%, crude petroleum, 10.42%, wholesale and retail trade, 11.58%, and government services 9.35%. It is a well-known fact that primary non-oil products dominated Nigeria's export trade and formed the bedrock of her economy in pre and immediate post-independence era. The issues discussed include the definition of exports, the relationship between exports and economic growth and the traditional techniques of export promotion. Key policy thrust of government has been the review and refocusing of the existing export incentives and improvement in their implementation guidelines. In conclusion, the paper recent statistics from the World Trade Organization (WTO) in Geneva revealed that Nigerian Exports increased from N345.36m in 1997, N442.93m in 1998, N1.56 billion in 1999 to N'1.53 billion in the first half of 2000. This clearly shows that non-oil export are witnessing a resurgence probably due to democracy and deliberate policies of President Olusegun Obasanjo's government to promote better environment and build solid goodwill for Nigeria.

Author Bio

The Author is a staff of Central Bank of Nigeria

Publication Title

CBN Bullion

Issue

3

Volume

25

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