FACTORS THAT LEAD TO STUDENTS POOR PERFORMANLE IN PRINCIPLES OF ACCOUNTS IN POST PRIMARY INSTITUTION (A CASE STUDY IN ENUGU SOUTH LOCAL GOVERNMENT)

ABSTRACT

This study aims at investigating the factors that head to students poor performance in principles of account in post primary institution in Enugu South Local Government.  It is not intended to contradict all papers or disapprove any already on this particular topic or similar topic but will serve as a supple monetary work to those one.

In spite of the obvious need for this subject (Account) in such a growing economy like ours, students seem to be shying ways from it opinions have widely varied as to the causes.

In view of the above, the investigator saw the need to fund out if there had been relative poor performance in the subject, and the factors that actually head to poor performance in this subject area.

Questionnaire:

The major instrument of date collection was as administration on the sample students and teachers from ten school.

1. Union Secondary school, Awkunanaw
2. Girls Grammar school, Uwani
3. Uwani Secondary scholl, Uwani
4. Idraw River Girls secondary school, Idraw
5. Army Day secondary school, Awkunanaw
6. Mary Land Secondary school, Mary Land
7. College of immaculate conception C.I.C, Uwani
8. Queens secondary school, New Lay-out
9. Urban Girls secondary school, Ogui
10. Metropolitan secondary school Ogui New Lay-Out

 

The questionnaire was also administered on the accounts teachers.

The study revealed among other things that:

• Students performance in Accounts have been relatively low
• Students tend to find Account difficult and more so, when they lack good background
• There seems not to be adequate number of teachers teaching Accounts in Enugu South Local government area.
• Lack of appropriate instructional materials lack of constant practice by student perhaps, because not adequately maturated by thee teacher, text book and irregularity in the supply of teachers, are some of the other factors by the study.
• Some teachers do not know how to inculcate, how to teach, how to impact knowledge they have been trained for into the students

To off-set these proven bottleneck and thereby facilitate student’s performance in the subject, the researcher recommends among others that:

1. Efforts should be stepped up in going students god background in mathematics.
2. Government should view with seriousness the issue of training teachers.
3. Institution of higher learning should be encourage to mount business courses.
4. Government should forestall the exodus of these accountry teacher by providing them with rewards commensurate with what their counterparts in private sectors receive.
5. Nigerian and up-to-date textbooks should be provided, while teacher are advised to give the students adequate motivation for constant practice

CHAPTER ONE

• INTRODUCTION
• Statement of the problem
• Purpose of the study
• Significance of the study
• Statement of the hypothesis
• Scope of the study
• Limitation of the study
• Definition of terms and Abbreviation

CHAPTER TWO

• REVIEW OF RELATED LITERATURE

2.1     Meaning of principles of accounts

• Objective of teaching principles of accounts in the post primary

institution.

• Problem facing students in principles of accounts
• Ways of improving students poor performance in principles of account
• The roles of accounting in economic development
• Basic accounting equation and double entry

CHAPTER THREE

• RESEARCH DESIGN AND METHODOLOGY

3.1     Sources of data

• Population and sample used
• Instrument used
• Method of data collected
• Technique of data analysis

CHAPTER FOUR

• DATA PRESENTATION AND ANALYSIS

4.1     Data presentation and analysis

• Test of hypothesis

CHAPTER FIVE

• SUMMARY OF FINDINGS, CONCLUSION AND

RECOMMENDATION

5.1     Findings

• Conclusion
• Recommendation

BIBLIOGRAPHY

APPENDIX

 

 

 

 

 

CHAPTER ONE

• INTRODUCTION

The factors that leads to students poor performance in principle of accounts in post primary institutions in Enugu South local government area of Enugu State.

 

The principles of financial accounting is set up to propane students generally for the study of financial accounting in particular.  It is hoped that the selected definitions that follow will create the awareness needed for students and as well awaken their interest in the study of accounting.

The American institute of certified public accountants defines accounting “as the act of recording, classifying and summarising in a significant manner and in terms of money transactions and events which are part (at least) of a financial character, and interpreting the results thereof”.

 

Also, Accounting can been defined as the process of identifying, measuring and communicating economic information to permit informed judgement and decision by users of the information

 

However, this definition by the American accounting association appears to dwell more on investment decisions made based on accounting information.  Investment decision, whether by investors buying shares in a company or a company investing the funds at its disposal, involves identifying investment opportunities assessing or analysing the various alternatives based on sound economic principles.  The association of national accountants of Nigeria defines accounting. “as the analysis, classification and recording of financial transactions and ascertainment of how such transaction affect the performance and financial position of a business.  This involves knowing the day-to-day dealings with money and money.

 

Consequently, the practice of accounting stated since organised life evolved.  The early man lived in caves from where he developed into living in communities.  That is, each person went about doing those activities of life for which he was most gifted.  This gave rise to individuals producing certain goods in quantifies in excess of what they needed which there were other goods which they needed cout they did not produced themselves.  The result was exchange. The first system of exchange was by barter.  Later money evolved and replaced banter.  During the stage of barter, recordings exchange were recorded.  A stroke on the wall or a pebble thrown into a pot could represent a receipt of 10 cowries.  When a payment of a similar amount is made, then a pebble would be removed from the pot a stroke cleaned off from the wall.  At any point in time, the number of pebbles, sticks or strokes remaining would signify the amount of money or commodity left, owned or owed by the “recorder”

 

In Nigeria, Accounting or book-keeping originate from the missionaries and private commercial schools in 1900. These missionaries came along with their cousines men and introduced book-keeping as apprenticeship programmes when the apprenticeship agencies failed to meet the needs of book-keepers and clerical workers, pre-service education programmes for training these workers were organized in academics and proprietary schools.  The rapid expansion of business in the early years of the 19^th century and need for larger number of bookkeeping and stenographers, clerical worker brought about an increased interest in business courses.

Educators became more concerned about commercial courses, early in the twentieth century and as a result of this interest, the Phelps-stokes fund of the U.S.A in co-operation with the international education board set up two commissions.

The Phelps-stroke fund is an American phiantropie organization interested in African.  The Commission was led by THOMAS JESSE JONES an American sociologist at the famous American Negro college Hampton Institute.  It is the commission that bought about the evolution of technical and commercial training.

The commission recommendation that the programme should be given by Government department and also supervise by them. They stress the importance of bookkeeping and this led to the opening of the first school, Boys High School, Nonny in April 1900 and it is a comprehensive secondary school.  The courses they study involve both technical and commercial courses.

In 1900 – 1935, because of the changing society, need for these commercial schools became imperative.  Their products like stenographer, clerical workers, accountants are of such importance that no company or industry can do without them.  As the need for these product grew, the federal and state Governments started giving their for support to the courses.  It was because of this, that secondary schools started including this subject in their curriculum.  This was as a result of only the commercial school not being able to supply the adequate man-power needed in Accounting.  Much emphasis was also being laid on the subject account at secondary school levels to supplement for the private commercial school need.

The issue of students performance in principles of Account in schoolks in Enugu South Local Government Area is one that has attracted a lot of divergent views.

Many of these arguments are matters of opinion which still need to be substantiated with facts and figures before they can be dependable.  Substantiating his stand, Akpero (1981) says “The declining statistics of successful performance in accounts in WASC is very easily demonstrated between 1990-1993 the percentage of passes of candidates have stood as follows:

                   June 1990 – 53.18

                   June 1991 – 48.61

                   June 1992 – 46.02

In this hue and cry concerning our students educational attainment in the cost primary institutions, the question is, is principles of accounts a recluse?

Osisioma (1992) found that students performance in principles of accounts in secondary schools in Enugu South Local Government Area was rather decreasing progressively yearly as follows

                   1986 – 58.18

                   1987 – 48.61

                   1988 – 46.02

                   1989 – 46.00

The steadly decreasing performance could serve as an indicator that principles of accounts is not the “odd man out” in the issue of student poor performance.  The burden is to find out the various factors that lead to student’s poor performance in post- primary institution and based on their findings suggest some remedies.

The G.C.E and SSCE (internal and private) are some of the public examination used in Nigeria at present as yardsticks for measuring standard of performance.  Hence our focus for the purpose of this study, is on the performance in SSCE (internal and private).  It is almost a popular opinion that education is the bedrock of national development.  The extent we can go in our development as people depend on our level of educational development.  Knowing this, therefore, it will be fool hardy for us to be intensive to our students academic achievements and what quality of education they received.

It is against the back ground that in the relent times our government (the various levels) are taking time to recognize our educational system in a bid to pursue qualitative and functional education.  Again this lends credence (believe) to the need for the topic of this research.  We hope that it will be of immense contribution to effective teaching and hearing of principles of accounts in our secondary or post primary institutions.

1.1     STATEMENT OF THE PROBLEM

A casual survey of the school system revealed that very few periods were allocated to principles of accounts as compared to periods given to other subjects.  It is difficult to find any subject that is not faced with one problem or the other.  It appears that the area of accounting records are worst performance in school certificate examination.  This situation is disheartening.

These problems emanated from the fact that there are inadequate number of qualified amounting teacher.  Most of the accounting teacher are people who graduated from commercial school.  They do not have full knowledge of the course, thereby finding it difficult to teach students under them.

Another problem is lack of vocational guidance counsellors; when you go to secondary school you will hardly see a guidance counsellor who will guide student and tell them the importance and great opportunity awaiting them of they do and take interest in accounting.

Again the subject principle of accounts is always started at the ss1 when the student must have done three years in their secondary school career.  This subject is only done in the senior part of the secondary school.  More ground will not be covered in this remaining 3years since it is a vast subject.  Lack of financial support from government to private institutions lack of incentive for accounting teachers

 

1.2     PURPOSE OF THE STUDY

The purpose of study is to investigate into what can be done to improve the performance of students in principles of accounts.

To investigate whether qualified teacher/people in account prefer working in the banks than going to the classrooms to teach.

If remuneration for teachers in accounts will in any way improve the performance of students.  Also if the socio-economic of the students could be an obstacle in the study of accounts

Before, any effective performance improvement scheme can be mounted for the subject, it has to be preceded by an investigation into factors that head to students poor performance in principles of account which is the purpose of this study.  The study will form a basis for further researchers.  Such as “the effect of insufficient professionally qualified teacher on student performance in principles of accounts” It will be a light to curriculum planners and developers as to what reasons are necessary to foster student achievement in the subject.

 

1.3     SIGNIFICANCE OF THE STUDY

The study is important to the students, so that it will correct the negative impression, which they have developed against accounting.  The suggestion and recommendation of the study if properly implemented will enhance their study of the course, thereby creating employment opportunities at the end of their course.

On the part of the teachers, the study and its recommendations will induce the government to spearhead action towards better performance of students in principles of accounts.  It will also disclose further research on poor performance of students on principles of accounts.

Finally, on the part of the government and the community the study will entitle the government and educational planners to facilitate action in the implementation and recommendations.  It will also give principle of accounts the position it deserves in educational curriculum.

 

1.4     STATEMENT OF THE HYPOTHESIS

1. Ho: There are no rocks of basic computational abilities for principles

of accounts.

Hi:     There are lack of basic computational abilities for principles of

accounts.

2. Ho: Students performance in principle of accounts is light in relation

to other subjects.

Hi:     Students performance in principles of accounts is light in relation

to other subjects.

3. Ho: Teachers have not been adequate in given take-home assignments

despite their work hoad.

Hi:     Teachers have been adequate in given take-home assignment

despite their work hoad.

4. Ho: Enough periods are not given to principles of accounts.

Hi:     Enough periods are given to principles accounts.

5. Ho: Most of the secondary schools are not lacking sufficient

qualified/professional teachers in principles of accounts.

Hi:     Most of the secondary schools are lacking sufficient qualified/professional teachers in principles of accounts.

 

 

 

1.5     THE SCOPE OF THE STUDY

The researcher is using the Enugu South Local Government Area as a case of study.

However, some school in Enugu South Local Government Area will be randomly selected for this exercise.

The schools are:

1. Union Secondary School, Awkunanaw
2. Girls Grammar School, Awkunanw
3. Uwani Secondary School, Uwani
4. Idaw River Secondary School, Idaw River
5. Arm Day Secondary School. Awkunanaw
6. Maryland Secondary School, Maryland
7. College Immaculate Conception, (C.I.C) Uwani
8. Queens Secondary School Ogui New-layout
9. Urban Girls Secondary School, Ogui
10. Metropolitans Girls Secondary School, Ogui New Layout

 

 

1.6     LIMITATION OF THE STUDY

The researcher faced a number of limitations in the course of the study.  The most identifiable constraints are time, finance and inability of many respondents to complete the questionnaire on time.

Time factors is one of the major constraints against this study.  As the research was carried out at student’s level, the researcher has to apportion his time so as to meet the requirements of other courses.  The researcher also missed most of his lecturers in an attempt to collect data.

Financial factors also affected this research in various ways.  In the first place, the question of financial constraint compelled the researcher to limit the scope of the study in terms of sample size and geographical coverage.

In the case of respondents, some of them failed to return their questionnaires on schedule.  Even some left their questionnaires uncompleted.   In spite of all these odds, the researcher tried as much as she could and obtained a reasonable size that is considered to be a representative of the population size.

 

 

 

 

 

1.8     DEFINITION OF TERMS AND ABBREVIATIONS

Abbreviations:

L.G.A- Local Government Area.

F.S.L.C – First School Leaving Certificate

S.S.C.E (Internal) – Senior School Certificate Examination (WAEC)

S.S.C.E (Private) – Senior School Certificate Examination (G.C.E)

W.A.E.C- West African Examination Council

TERMS:

Odd Man Out       –        Standing alone and not included in the trend of

events.

Qualitative Education    –        High Standard of Education, whereby the

beneficiaries perform up to or & above the expectation place on them by the society.

Functional Education     –        Education that emphasizes on what the educated will be doing when he comes out

Performance Improvement Scheme   –        A plan of what to add, remove or

new policies and principles to adopt in order that the student will perform better.

Professional Qualified Accounts Teachers  –        For teaching of principles of accounts in post primary schools, they are teachers who posses NCE, HND or B.Sc in accounting.

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FACTORS AFFECTING THE CONCEPT OF PROFITABILITY AS A GUIDE TO POLICY DECISION

(A CASE STUDY OF SOME MANUFACTRING INDUSTRIES IN OSHIMILI SOUTH LOCAL GOVERNMENT AREA OF DELTA STATE)

ABSTACT

Before we delve into this issue, let us look from the realistic point of view, the concept of profitability.  It can be seen as that concept which provides management with alternative course of action according to the various degree of profitability, stating dearly in relevant cost accounting form the costs and benefits associated with individual projects which enables management to select the most profitable.  Majority of the policy decision of manufacturing industries are generally directed towards profitability.  Policy decision made under this concept ha direct effect on increasing and enhancing the general profitability of the manufacturing industry concerned.

Unfortunately, this laudable guide has been relegated to supportive role in some manufacturing industries because of certain factors militating against it.  Such factors have in most cases affected the profit position of industries and in extreme cases to huge losses, which sometimes drag such companies involved to unexpected liquidation.

Hence, this project work tried to know those factors affecting the concept and respective effects on the profit position of the selected industries.

 

In view of covering the three dimensional focus of the research, the project focused on three major areas:

(1)     The exogenous factors affecting the concept of profitability.

(2)     The endogenous factors affecting the concept of profitability.

(3)     Political factors affecting the concept of profitability.  These three areas combined to give a broader view of the factors militating against the concept of profitability.

CHAPTER ONE

Introduction                                                                                      1

1.1     background of study                                                      3

1.2     Statement of study                                                                  5

1.3     Purpose of study                                                           6

1.4     Research question                                                                   7

1.5     Scope and limitation of study                                        8

1.6     Definition of terms                                                                  9

CHAPTER TWO                  

Literature Review                                                                    12

2.1     Cost                                                                               12

2.2     Costing Method                                                             24

2.3     Management Problems                                                  37

2.4     Social factors                                                                 41

2.5     Ecological factors                                                          44

2.6     Government Influences / Political factors                      46

2.7     Technological factors                                                     47

2.8     Roles required of Oshimili South Local

Government Area Authority                                          48

2.9     Roles required of both the state and federal Government        49

CHAPTER THREE

Research Decision and Methodology                                                51

3.1     Data collection and Analysis                                         51

3.2     Techniques of method of Data Collection                      51

3.3     Primary Sources                                                            53

3.4     Secondary Sources                                                                  54

3.5     Description of Sample                                                   55

CHAPTER FOUR

Data Presentation and Analysis                                                        57

4.1     Presentation of Data                                                      57

4.2     Interpretation of Data                                                    62

CHAPTER FIVE

Summary of Findings, Recommendation & Conclusion                   64

5.1     Discussion of Findings                                                  64

5.2     Conclusion                                                                     66

5.3     Recommendation                                                           67

Bibliography                                                                  73

 

CHAPTER ONE

 

INTRODUCTION

The concept of profitability can be defined as that concept which provides management with alternative courses of action according to the various degrees of profitability, stating clearly in relevant cost accounting forms, the costs and benefits associated with individuals projects which enable management to select the most profitable.

It is obvious that majority of the policy decisions of manufacturing industries are generally directed towards profitability.  The policy decision made under this concept has direct impacts on increasing and enhancing the general profitability of the manufacturing industries concerned.

The origin of this concept can be traced back to ero of industrial revolution.  Before industrial revolution, industries were run by family concern just to maintain a status.  Due to increase in trade brought about by the industrial revolution, most business grew from the usual family arrangement to large groups.  Resources were pulled together and handed over to other people to manage for the owners.

Naturally, resources owners must except a profitable return from their investments.  The urgent obligation force management to seek ways of carrying the activities so as to make profitable returns to the resources owners.

The growth and complexity in the industrial sectors gave rise to the need for policy statement or decision on certain issues.  Materials must have to be bought in enough quantity to avoid stock out and at the same time check over stocking.

Labour, which is one of the factors of production must be allowed to operate in a conducive environment so as to reap the benefit of him labour prior to commencement or expansion general ecological consideration must be reviewed.  Thereafter site is acquired, structures erected, machine and equipment installed.

On take off, the manufacturing industry must move the changing technology, meet its social responsibilities, operate under government regulations, pay tax as at and when due, meet the expectations of the shareholders.  Moreover, high administrative cost of changing technology, fierce competition, cost of government restrictions poor capital base, and the need for maximization of shareholders wealth must be highlighted and adjusted in such a way.  That the total cost of manufacturing a product will not only be less than sales revenues but also give a good profit margin.

The researchers go on taking decision on the above issues, group that factors affecting the categories, thus:-

(a)     Endogenous factors

(b)     Exogenous factors

(c)      Political factors

• BACKGROUND OF STUDY

The nature of this research work required theoretical approach and analysis, which will cover the three-dimension focus of the research.

The research focused on three major areas:-

1. The endogenous factors affecting the concept of profitability as a guide to policy decision.
2. The exogenous factors affecting the concept and

iii.      The political factors.

The study of these factors will help the researchers to determine the effect of those factors on the profit position and make subsequent recommendations.  The framework for analyzing the factors affecting the concept of profitability were.

• EXOGENOUS FACTORS

1. Theory of location of industry which states that nearness to raw materials, availability of labour affects the profitability of manufacturing industries eg the location of extractive industries depend on where the raw-materials are to be found.
2. Theory of nearness to market: Heavy goods are expensive to transport. Because of this, the theory therefore, states that such goods be produced near the market.

iii.      Other general economic factors:        There must be a ready supply of labour especially skilled labour.  There must be good transport facilities for movements of both raw-material and finished goods.

1. Location of other industries: Industries are often set up hear others in order to take advantage of external economics, an industry enjoyed being close to other industries in the same business or trade.

• ENDOGENOUS FACTORS

These emphasize on the theory of operations management which is of the view that workers have the same objectives with that of management and work towards common ends of management, which assumes a responsible attitude towards organizational decision – making procedure.

On the political factors, the instability of government, restrictions on certain industrial activities and active intervention were also theories, which will help the researcher to find out the factors affecting the concept of profitability.

• STATEMENT OF PROBLEM

The research work entitled “Factors affecting the concept of profitability as a guide to policy decision (A case study of some manufacturing industries in our locality) attempted to determine the factors affecting the concept of profitability as a guide to policy decisions.

Other Problems Include:

(a)     What problems affects the effective application of the concept.

(b)     What are the reactions of industries to these factors affecting the concept?

(c)      To what recommendations made based on the findings about the factors affecting the concept.

• PURPOSE OF STUDY

This research work is informed by the need to explaining the causes of the unfulfillment of the profit objectives of the selected industries through the concept.  The profitability of industries encourage them to assume their social responsibility and participate effectively and concretely in the economic growth of the economy of the local government concerned, and  the locality where the industry is sited in general.  A thorough knowledge of these factors will help existing companies in profit planning.

The research work looked into the policy decision of some of the selected industries and factors affecting their execution.  The research work delved into the concept of profitability from which it determined the exogenous, endogenous and political guide to policy decisions were exposed.

• RESEARCH QUESTIONS

It is very important that certain questions be asked in order to obtain information that will enable the researchers complete the study successfully.  These questions are as follows:-

(1)     Can scarcity of raw materials affect the profit motive of your company?

(2)     To what extent can technological changes affect the profit intention of your company?

(3)     In what way(s) does the economy affect your company.

(4)     To avoid running short of raw materials, can your company buy what it will need in future today?

(5)     As a customer, what factors will influence your decision in buying a particular product?

(6)     In a situation, where it is profitable to expand your company but ecological factors do not permit such expansion, will your company abandon the idea?

• SCOPE AND LIMITATION OF THE STUDY

The scope of the research study will be within the locality where the industry is sited

LIMITATIONS:

The concept of profitability is a vast area of research.  There are certain factors, which hinder the study of this concept.  They are as follows:

TIME:         The time factors affects the study of the research work, ie the second semester is very short and as a result of this, we have other things to do or cover.  The time allocated to this study is very short.

 

FINANCE: Inadequacy of finance is another factor affecting this research of the concept of profitability.  Students in this group are faced with hardship.  A lot of their money had been spent on handouts and books.

• DEFINITION OF TERMS

There are certain words or terms that need to be explained or defined.  This is to enhance understanding of the contents of the research work.

1. Concept of profitability: This could be defined as concept which provides managers of manufacturing industries with alternative courses of action according to the various degree of profitability stating clearly in relevant cost accounting form the costs and benefits associated with individuals project which enable them to select the most profitable.
2. policy: This means principle and objectives which guide decision making on particular matters and which expresses broad indention or attitudes of the industries.  It can be general outline plan of action setting out terms of operation.
3. Industry: It means a class of firm that are sufficiently similar in their main activities or products to be grouped together for the purpose of description
4. Manufacture: It could be defined as a process by which raw-materials are being transformed into finished goods using plants and equipment.

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 Account Number:  0117780667. 
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Exporting Nigeria’s non-oil products!

(A case study of Nigeria export promotion council, Enugu)

PROPOSAL

The objective of this study is to find out the roles being played by Nigeria Export Promotion Council in Exporting Nigeria non-oil products.  Also to ensure that the economy USS department on crude Oil as the sole source of foreign exchange.  Most companies engaged in exportation and exporters have not fully appreciated the roles performed by this council.  Its achievements, the various incentives offered to exporters to stimulate export, the problem encounter in export promotion.

The researchers will use the following hypothesis! The NEPC has not failed to actively promote the implementation export policies and programmes of the Federal Government.  The NEPC has been enable to initiate export incentives for interested exporters.  That the NEPC pruned information that helped export business.  NEPC has succeeded in their function of promoting the development and diversification of Nigeria export market.

Method of collection of data that will be use in oral interviews and questionnaires in collecting primary data.  A total of will be used. Questionnaires are to be administration to the council staff and exporter- orientated companies in Enugu.

 

After collection of data, the data would be analyzed and finding were to be made to test the hypothesis, the researcher will use chi-square (x²) Based on the findings, the researcher will bring down it’s commendation.

CHAPTER ONE

• Introduction 1

1.1     Background of the study                                                         1

• Scope of the study 6
• Statement of problems 7
• Objectives of the study 8
• Hypothesis 9
• Significance of the study 10

CHAPTER TWO

• Literature review 11
  • Export promotion activities in Nigeria

challenges and prospects                                               11

• Non-oil export promotion, the journey so far and

the pre-condition for accelerated growth                       14

• Strengthening and up grading the status of NEPC 17
• The economy with export promotion 18
• Exporting experiences and suggestions 19
• Why export promotion council promote export. 21

CHAPTER THREE

• Research methodology and design 36

3.1     Population                                                                     36

3.1     Sample size                                                                    37

3.2     Sources of data                                                              39

3.3     Sample technique                                                           42

3.4     Research instrument                                                      42

• Instrument for data analysis 43

CHAPTER FOUR

4.0     Presentation, analysis and interpretation                       45

• Questionnaire for the staff of NEPC 47
• Testing of hypothesis 55
• Interpretation of results 60

CHAPTER FIVE

5.0     Summary of findings and recommendation                             62

• Discussion of findings 64
• Conclusion 65
• 66

Bibliography                                                                  68

 

CHAPTER ONE

INTRODUCTION

1.1     BACKGROUND OF THE STUDY:

No country is an Island, nature has made it that way.  Nigerian Export Promotion Council encourage exportation of non-oil product in Nigeria.

 

Exporting is the marketing of selling of goods and services across national boundaries.  Crossing boundaries of sovereign nations requires passing through the national conditions of entry, for example, when a firm crosses boundaries with products, certain safety, health and labeling regulations must be met.  Duties, tariffs and taxes must be paid.  There are different entry strategies into international markets: Exporting licensing, joint ventures, Direct ownership etc. International sales raises the standard of living of the world community just as domestic marketing raises the standard living of the domestic community.  Exporters capture opportunities in the foreign market; upon this much foreign exchange has been accruing to the coffers of the country.

 

The Nigerian economy has undergone a lot of economic and social transformation in the 1960’s Nigeria was a major exporter of agricultural primary products and by early 1970’s exports from petroleum sector over shadowed that of agricultural products and become the dominant foreign exchange earner for the country.  The policy then was to use the earnings from oil to develop social infrastructures and industrialize the country through the import substitution strategy.  In recent times government find it difficult to generate enough foreign exchange of the heavy reliance on petroleum whose fortune in terms of prices is dwindling in the world market coupled with out.  Insatiable demand for imported goods.  this led to the federal government of Nigeria to put in place policy initiatives to enhance and boost the inflows of the foreign exchange into the non-oil sector of the economy.

The structural adjustment programme (SAP) Introduced in 1986 has one of it’s corner stone.  The promotion of Non-oil exports which comprises of primary products – raw agricultural and mineral products, semi manufacture and manufactured products.  With the sharp decline in oil revenue as from the early 1980’s Nigeria has been faced with chronic shortage of foreign exchange, fiscal and payment deficits and a serious problem of external indebtedness, which increases tremendously from 1.25 billion in 1979 and 18 billion in 1986.  The unhealthy economic situation was caused by the oil gluts of 1978 and 1981 and the falling prices of our reduced demand.  The only alternative was to supply side economics, which is regarded as the new conventional wisdom, of which emphasis on the promotion and diversification of Non-oil export, constitute a major or integral part.  In other to be in a good position to expand and diversify both the product base and the geographical or market concentration of the country’s export trade, the federal government put in place policies to help boost export activities on the country.  These policies were mainly related to the manufactured and semi manufactured products.

The Nigerian Export Council was established by the Nigeria promotion Act No 26 of 1976 and formally inaugurated in March 1977.  The Act was further amended by decree No 72 of 1979.

 

On February 14, 1986 a nine-man committee was inaugurated by the then Honorable Minister of Trade and Tourism to make recommendation for the re-organization of the council.  The final result of this committee assignment was the Nigeria export promotion council decree of 1988. The decree was aimed at – organizing the council in both structural and functioned responsibilities of spearheading implementing incentive x packages contained in the export incentive and miscellaneous Decree No. 18 of 1986 popularly called NERFUND.

The importance of the re-organization is to restructure the operation of the council to negate the bureaucratic red-tapism which created bottleneck in the activities of the council.  Activities of Nigeria export promotion council influence NACCIMA and man who is member of the board, with the minister of commerce and tourism as chairman from the private sector.

 

The re-organization brought about creation of five zonal offices with headquarters at Abuja and headed by directors.

 

The Nigeria Export Promotion Council is vested with the following functions;

• Assist in promoting the development of oriented industries in Nigeria.
• Actively promote the implementation of export policies and programme of the federal military government
• Collect the disseminate information and products available for export
• Promote the development of and diversification of Nigeria’s export trade
• Administer grants and other benefits related to export promotion and development.
• Pursuer the simplification streamling of export procedure and documentation on continuous basis.
• Co-operate with other institutions on matter relating to export financing, export incentive and specialized sources of exporters
• Undertake sources of the current economic condition with special attention to the export sector with a view to advising.
• Establish specific trade promotion facilities in Nigeria and other countries including the establishment of permanent show rooms at important commercial centres in the country.

 

1.2     SCOPES OF THE STUDY:

The scope is Nigeria Export Promotion Council because they promote export in Nigeria and also helps in realizing foreign exchange.

 

The ideal situation would have been to study all exporters in Nigeria on the roles and functions performed by the Nigerian Export Promotion Council towards the export of non-oil product.

 

1.3     STATEMENT OF PROBLEMS

The fact that all nations are equally in doubt with the same resources makes exports come in.  It allows for exchange of goods and services where it is needed.

 

The Nigerian Export Promotion Council plays a very important role.  They encourage Nigerians in the exportation of non-oil products.  Are they playing their role on export?

 

• Is the economy still solely dependent on crude petroleum as against the diversification of the export base?
• Does an average business marchant know the necessary incentives to stimulate export.
• That the private sector is still not conducive enough for export promotion.
• The council is not aggressively marketing Nigerian products abroad.
• Do the council perform commensurate with it’s foreign counterpart.
• That the council is yet to fulfill many of the functions it is expected to perform and as a result of this, there has been noticeable decline in the role and functions they carryout.

 

1.4     OBJECTIVE OF THE STUDY:

• To know if the export producer at the Nigerian export promotion council in any way impedes exportation of non-oil products.
• Functions and roles performed by the Nigeria Export Promotion Council
• To ascertain if this functions are carried out
• To examine the degree of implementation of it’s function.
• To determine other functions, the export council is to be involved in.
• The effect of Nigerian export promotion council to an average Nigerian towards exportation.
• To ascertain the appraisal and functions of the council
• It’s achievements and the degree of such achievements
• The various incentives offered to stimulate export.
• The problems encountered in export promotion.

1.5     HYPOTHESIS:

• Nigerian export promotion council has succeeded in their function of promoting development and diversification of Nigeria export market.
• That NEPC activities and publicity had no adverse effect on the products that are exported.
• NEPC has not failed to actively promote the implementation of export policies and programs of the federal government.
• That NEPC has been able to initiate export incentives for interested exporters.
• That the NEPC provides information that help export business.

 

 

 

1.6     SIGNIFICANCE OF THE STUDY:

There are a lot of opportunities opened to exporters but because of ignorance, most exporters are not able to seize the opportunities to their advantage; with the attention given to export promotion now in the country by the federal government, there I no doubt about the reliance of this study.

It will be of assistance to the government, Nigerian Export Promotion Council and association of Nigerian exporters.  It will help various potential exporters to have the knowledge on how to embark on export business.

 

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