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Perspectives on Industrial Development in NigeriaAn Appraisal of the Export Potential of Made-in-Nigeria Goods

Perspectives on Industrial Development in Nigeria: An Appraisal of the Export Potential of... [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.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Perspectives on Industrial Development in NigeriaAn Appraisal of the Export Potential of Made-in-Nigeria Goods

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
ISBN
978-3-030-84374-8
Pages
209 –232
DOI
10.1007/978-3-030-84375-5_8
Publisher site
See Chapter on Publisher Site

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.]

Published: Jan 1, 2022

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