THE ROLE OF FINANCIAL INSTITUTION IN THE PROMOTION OF NON-OIL EXPORT IN NIGERIA
1.1 STATEMENT OF PROBLEM AND PURPOSE OF THE STUDY
The purpose of this study will be to evaluate the role and strength of the financial institution in promoting Nigeria’s non-oil exports.
There are some already existing role played will undertake a close assessment of such roles to see how effective they have been towards promoting of non-oil exports because necessary and a place will be give to it. Government’s promotional contribution to non-oil exports will also considered.
This study intend to contribute to the already existing knowledge in this light possible measures that will make the financial sector’s promotional role more effective for an increase non-oil exports it is this hoped towards future policy decision as well as act as a reference material for students of finance, economic and other relate fields of study.
1.2 REASON FOR THE STUDY
Every researcher have the reason for his/her research and some of the reason will be listed below.
(1) To know the roles financial institution plays in promoting non-oil export in Nigeria.
(2) To know the amount of loans financial institution lend to non-oil export in our country.
(3) To know the import of financial institution on the promotion of non-oil export.
1.3 THE SIGNIFICANT OF THE STUDY
Through this research work in find it so difficult to make sure that there is no mistakes 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 world wild to know the role financial institution play in promotion of non-oil export and even my colleagues and other fields in higher institutions will benefit form reading this my work.
1.4 DEFINITION OF TERMS
THE FINANCE INSTITUTION
According to central bank of Nigeria bullion the financial institution in its entirely is made up.
(a) The banking system consisting of the commercial merchant and development banks led by the central banks of Nigeria.
(b) The capital market made up the Nigeria stock exchange securities and exchange commission issuing house stock brooking firms
(c) Find suppliers insurance houses pension etc. these institution have specific and general role in promoting Nigeria non-oil export. However the purpose of this study on the financial institution here most emphasize more to banks and less the insurance company.
The non-oil export of Nigeria as it is self-expletory refers to those non-oil allied products produced for international market. Broadly the include output from agriculture services manufacturing and soil mineral.
In considering Nigeria’s non-oil exports this paper will only focused on manufacturing and agriculture products (processed and semi-processed). This metal which is about the only solid mineral still on the export list ported in a very insignificant quantity and value.
Banking involve in some export promotional activities such as sponsoring organizing and participating in seminars workshops trade exhibition they participate in both local international trade firm.
In the process of getting involve in the above mentioned they expose the public to their export developed will conduct trading on the export and will help stem the flow of crop export.