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http://www.projectplus.com.ng/2017/04/24/external-trade-financing-nigeria/EXTERNAL TRADE FINANCING IN NIGERIA
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The main objective situated under this study is the External trade financial in Nigeria.
The study has been formed into five chapters to make for easy reading and understanding.
Chapter one dealt much on the External trade financing in Nigeria with reference to the federal government and commercial banks participation in the financing of trade in Nigeria.
Through this, other four 4 chapter were derived that is based from chapter one I in order to confirm the finding recommendation and conclusion.
All the same, from participation of federal government and commercial banks in the external trade financing in Nigeria more effort should be put to reduce the problems of external trade financing and less consideration given to agricultural export product which earn large or most of our foreign exchange in the 60s and 70s.
In view of the findings above recommendation have been made that the commercial banks has a lot of role to play in financing the external trade in Nigeria.
TABLE OF CONTENT CHAPTER ONE
1.1 Background of the study
1.2 Statement of the problem
1.3 Objective of the study
1.4 Significance of the study
1.5 Limitation
1.6 Definition
CHAPTER TWO2,1 Review of related literature CHAPTER THREE
Research design and methodology
3.1 Sources of data
3.2 Location of data
3.3 Method of data collection { literature work only}
CHAPTER FOUR
4.1 Findings
CHAPTER FIVE
5.1 Conclusion
5.2 Recommendation
CHAPTER ONEINTRODUCTION
1.1 BACKGROUND OF THE STUDY
For the past few years, it is Cleary that the present civil administration is posed to see an improvement in the external trade sector of Nigeria economy. This is geared towards increasing the export activity and reducing to a minimal level, the rate of import transaction as a measure to boost our country’s external reserves. This trend is buttressed by the various policy stipulations and regulation as well, as incentive dished out by the federal government to participant in the external trade sector, most especially the export sector. The owns of this interest by various levels of government is hinged on the need to boost our foreign reserves which was previously depleted by import that swept through the country during oil boom era and second republic .
There is also the urge to restage agricultural sector which contributed immensely to our export earnings prior to the oil era, since earnings derivable from oil export can no longer be adequate derivable form oil export can no longer be adequately predicted.
The aims and objectives outlined above cannot achieved without adequate participation of financial institution and intermediation most especially commercial banks, thus various government policies are usually implemented through that financial institution in the country. Thus a tight monetary policy disfavour a particular sector of the economy. Also, there is the case of inauguration or enactment of policies, be the government, and their actual implementation by the financial institutions commercial banks. This research will be limited to commercial bank, the live wire of every government in the execution of monetary policies, aimed toward different sector within the economy and the external trade sector which is within the economy structure, so the participation commercial banks is very important in the realization of the above objective relating to the external trade sector .
The word financing relates to the provision of fund when and where they are required for the implementation of economic activities of man. Taken the definition into consideration the external trade financing will than porting the technique of providing fund by various financial institutions, individuals corporate bodies and government that engage in external trade business. This financing function comes in different ways and various instrument abound for the smooth facilitation of this financing activity for and the instruments that go with it, is a function of whether we are concerned with import trade financing or export trade financing both of which falls under external trade financing. For the purpose of the project. Work emphasis will be placed on historical analysis of trends in import and export sector of the economy in past five years so as to the determined how vibrant form of financing available for the smooth operation of the sector. This analysis will be done on the basis of economic needs and aspirations of nation in the relevant periods.
1.2 STATEMENT OF PROBLEM
It ahs been frequently asserted that commercial that commercial bank and infact the entire banking sector in Nigeria are exhibiting lukewarm attitude to external trade financing rather that their participation over the years is grossly inadequate. When they agree to participate at all they restrict their financing to specific sector within that external trade sector like merchandize trade which are mainly short term in nature. Also in the recent years commercial bank haled been accused of denying financial services to medium level import and export participants by refusing to grant individual who cannot handle loans of up to N50,000 loan facilities for a critical appraisal of their problems.
1.3 OBJECTIVE OF STUDY
This research work is intend to bring out the inconsistencies in the external trade financing. Then use the conclusion derived from that research work to propagate some conclusion assertion in the external trade financing activities of the country. And to recommend measure of minimizing inconsistencies in external trade financing in Nigeria
1.4 SIGNIFICANCE OF THE STUDY
This research work will be of immense benefits to the following groups.
- Foreign interest group
- Banking sector must especially commercial banks
iii. Government sector.
- Corporate bodies
- Private firms having internal in external trade financing in Nigeria
- Research scholar
Certainly this will serves as a secondary sources of data to other researcher.
1.5 DEFINITION OF TERMS
Bank: There are two types of banks namely the central bank which is technical a nationalized industry owned and ultimately controlled by the government and commercial banks that accept deposit and gives in return as demanded by the depositor.
External trade: This is a trade between nations a trade across the national boundary
Financing: A process whereby founds are sources or providing when and where they are required for the purpose of implementing economic activities is term financing.
Imports: This simple means goods which are produced in a country that are bough from other countries.
Export: This is when you sell goods produced is your country to other countries.
Commercial banks: These are financial institution authorized by law to accept deposit accept valuable properties for safety custody lending money in an agreed interest and above all lease properly interested customers on demand and finally contract on behalf of customers.
Agriculture sector: These is a sector that deals with all aspect of agricultural namely livestock farming, fishing, forestry, import and exports,
Financial institution: These are establishment that issued financial obligations such as demand deposit in other to acquire funds from the public united bank for African
TABLE OF CONTENT
1.0 Chapter one Introduction
1.1 General Background of the study
1.2 Statement of the problem
1.3 Statement of Hypothesis
1.4 Need for the study
1.5 Definition of the Term
Chapter Two
2.1 Literature Review
2.2 The computer: A Historical perspective
2.3 The Basic elements of A computer
2.4 Computer and Data processing
2.5 The
Chapter three
3.1 Research methodology
3.2 Sources of data
3.3 Sample size
3.4 Research procedure
3.5 Conclusion
3.6 References
3.7 Bibliography
CHAPTER ONE
INTRODUCTION
The invention of the Telegraph, Telephone, television, Transitory, system unit have profoundly influenced the way we live today. Each of such advances has spread a technical revolution, which in turn has reached the confirms of technology to affect the ways we live, work, and see the world.
The introduction of computer-based system produces the most recent and existing of all revolutionary technical advances, its profound impact in our daily lives and on the business communicated all imagination.
In our professional lives the computer is an integral tool in the performance of many jobs. Managers for instance use the package of word processing software to compose memos and spellings checking grammar and style.
However, in the development of this century there has been an increased emphasis on the need for the introduction of the computer-based management.
In the past, corporation has failed to see the need for such a system. Organizations especially in Nigeria is slow to appreciate these benefits, which such a system could yield.
However, the gradual introduction of computer into organization is general and particularly for administrative purpose could be attributed to the following reasons.
Firstly, Top-level mangers have been involved in the negotiations and agreements cover the introduction and use of computer-based technique in their organization.
Secondly, the work being carried out in most personnel department in various organizations in Nigeria has become a reality so much that computers need to be introduced to promote efficiency.
Thirdly, the presence of these devise in organization draws a line between “prosperous” and none prosperous companies in the eye of Nigerians.
Despite the appreciation of the need for computer based management information system it is not easy for business organizations to appreciate fully what a computer can do.
STATEMENT OF PROBLEM
It is the latest innovation in technology advancement as it relates to the over all running of an organizations.
This study therefore is geared towards addressing the following problems:-
- To determine the extent of awareness and installation of computer in organizations like Golden investment Enugu.
ii To uproot the acceptability of computer by employees.
iii To accepts and discover the problem encountered by the business management of these organizations during and after installation.
iv To compare the production of these organizations before and after installation of computer.
STATEMENT
NULL HYPOTHESIS (HO)
ALTERNATIVE HYPOTHESIS (HI)
HO – that collection and storage of data in business organization can be made easier with the introduction of computer.
HI – that collection and storage of data in business organization cannot be made easier with the introduction of computer.
HO – the advantages from introduction of computers to business organization can be more than the disadvantages.
HI – the advantages from introduction of computers to business organization cannot be more than the disadvantage.
Ho – the quality and quantity of work done in business. Organization can be more much vital than the more introduction of computer than without it.
HI – The quality and quantity of work done in business organization cannot be more much vital than the more introduction of computer than without it.
NEED FOR THE STUDY:
In recent years the emphasis on productivity, rationalization and keeping staff numbers has increased dramatically thereby highlighting the need for the study therefore, can be seen in terms of:
- Accuracy: The introduction of computer in business organization in Nigeria enhances accuracy; it provides relief from errors as a result of prolonged work hours. Careless Borden and environmental conditions.
- Timeliness and speed factors: in addition to the accurate information, effective day to day on the spot decision making requiring that such information received on time. The introduction of computer therefore facilitate this features:
iii. Competitions: The competitive is also needed and aided by the use of computers because of its advantage in fact, accurate and computer data processing.
DEFINITION OF TERMS:
Computer like and other technical fields has its own equipment unit of measures, concepts and vocabulary, unlike the vocabulary of older natural sciences.
BEGINNING FROM ITS FOUNDATION:
Computer: A computer is a device that receives data and instructions manipulates them according to a sequence of instruction and produces result as output.
MEMORY: This is the central processing unit (CPU) it is used for computation activities.
DATA PROCESSING: A process of covering raw data into information.
DATA BASE: A collection of data that provides data access to all applications and users with minimal redundancy.
HAND SHAKING: A procedure for transferring data in which one device intones another when it is ready to receive data then the second transmits them.
HAND DISK: A rigid disk that installed in a drive semi-permanent also to help some document for future reference.
MEGABITS (MB): The volume in which computing is measured.
NETWORKING: Connecting several computers together.
TIME SHAKING: Occurrence independent use of a single computer system by several individual.
WORD PROCESSING: Propagation of correspondence and documents by several individual means.
FILE: A collection of records, each record in the file typically has the same formal or layout as all the other.
