ROLE OF FINANCIAL INSTITUTION IN THE PROMOTION OF NON-OIL EXPORT IN NIGERIA
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ROLE OF FINANCIAL INSTITUTION IN THE PROMOTION OF NON-OIL EXPORT IN NIGERIA
CHAPTER ONE
1.1 STATEMENT OF THE PROBLEM AND THE PURPOSE OF THE STUDY
The goal of this research is to assess the financial institution’s function and strength in boosting Nigeria’s non-oil exports.
There are several currently existing functions that will be closely evaluated to see how effective they have been in promoting non-oil exports as needed, and a space will be given to it. The government’s promotion of non-oil exports will also be evaluated.
This study intends to contribute to existing knowledge in this light possible measures that will make the financial sector’s promotional role more effective for an increase in non-oil exports.
It is hoped that this will lead to future policy decisions as well as serve as a reference material for students of finance, economics, and other related fields of study.
1.2 WHY IS THE STUDY BEING CONDUCTED?
Every researcher has a purpose for conducting research, and some of these reasons are described here.
(1) To understand the responsibilities that financial institutions play in encouraging non-oil exports in Nigeria.
(2) To learn how much money financial institutions lend to non-oil exports in our country.
(3) To learn about the import of financial institutions in the promotion of non-oil exports.
1.3 THE SIGNIFICANCE OF THE STUDY
Through this research work, I have found it extremely difficult to ensure that there are no errors in my research work and I have gone through in this topic of my study, and I further suggest that through this study,
it will benefit our nation and the world at large to understand the role financial institutions play in the promotion of non-oil exports, and even my colleagues and other fields in higher institutions will benefit from reading this my work.
1.4 DEFINITION OF TERMS
THE INSTITUTION OF FINANCE
The financial entity is totally made up, according to the Central Bank of Nigeria.
(a) The banking system, which consists of commercial merchant and development banks led by the Nigerian central banks.
(b) The Nigeria stock exchange securities and exchange commission issuing house stock brooking enterprises comprise the capital market.
(c) Locate suppliers, insurance companies, pension funds, and other institutions that have a specific and general role in supporting Nigeria’s non-oil exports. However, the focus of this study on financial institutions here emphasises banks rather than insurance companies.
EXPORTS OTHER THAN OIL
Nigeria’s non-oil export, as the name implies, refers to non-oil linked items produced for the worldwide market. In general, this includes agricultural service manufacturing and soil mineral output.
In considering Nigeria’s non-oil exports, this paper will only include manufactured and semi-processed agricultural items. This metal, which is the sole solid mineral remained on the export list, was ported in a negligible quantity and value.
EXPORT MARKETING
Banking institutions participate in export promotion activities such as sponsoring, organising, and participating in seminars, conferences, and trade shows. They also participate in both local and worldwide trade firms.
In the course of becoming involved in the aforementioned, they expose the public to their created export, will conduct trading on the export, and will aid in stemming the flow of agricultural export.
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