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An Appraisal of the Export Potential of Made-in-Nigeria Goods

In: Perspectives on Industrial Development in Nigeria

Author

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  • Oyeyemi Adegbite

    (Enterprise Consultancy Services)

Abstract

As a result of the oil shocks of the late 1970s and early 1980s which were accompanied by wild swings in the revenue accruing to the Federal Government of Nigeria through crude oil exports, it became apparent to the country’s leadership, whether military or civilian, that Nigeria had to speed up the development of non-oil exports in order to achieve a more stable and diversified economy as well as balanced growth and rapid economic development. Arising from the foregoing, the government as part of the Structural Adjustment Programme (SAP) adopted in 1986, promulgated the Export (Incentives and Miscellaneous Provisions) Decree [1]. Under the decree a number of bold initiatives were adopted, including a package of export incentives and the banning of selected imports, with a view to promoting not only the production of such goods in Nigeria but also encouraging their export into regional and international markets. Thus it was envisaged that after a period of time Nigeria will unbind itself from over dependence on a single export commodity.

Suggested Citation

  • Oyeyemi Adegbite, 2021. "An Appraisal of the Export Potential of Made-in-Nigeria Goods," Advances in African Economic, Social and Political Development, in: Perspectives on Industrial Development in Nigeria, chapter 0, pages 209-232, Springer.
    • Handle: RePEc:spr:aaechp:978-3-030-84375-5_8
    DOI: 10.1007/978-3-030-84375-5_8
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