International Journal of Scientific & Engineering Research, Volume 4, Issue 12, December-2013 1277

ISSN 2229-5518

Trade Liberalization in Nigeria: An Examination of

Impact and Policy Strategies

Ijeoma, N. B.

Abstract

This study examined the impact and policy strategies of trade liberalization in Nigeria. The objective of this study was to determine the level of implemen- tation of trade instruments and strategies, and to ascertain if the policy direction for foreign trade has been vigorously pursued over the years in Nigeria. The method of data collection used in this study was field survey method involving the use of questionnaire. A sample of 95 questionnaires was adminis- tered to a cross section of importers and exporters, top banks management staff and members of the legislative house in Nigeria. The statistical tool used in analyzing the data was the Chi-square test statistic. From the result of the analysis, it was found that majority of the respondents believed that the implementation of trade instrument and strategies has been very low since the option “very low” recorded the highest column total. Also, the null hypothesis was rejected since the chi-square test statistic value obtained was 45.088 and a p-value of 0.006, which fall on the rejection region (p-value=

0.006 < α = 0.05 ). Hence, the implementation of trade instrument and strategy in Nigeria has been low over the years. Also, it was observed that majority of the respondents claim that policy direction for foreign trade has been low since the option “low” recorded the highest column total. Also, the

null hypothesis was accepted since the chi-square test statistic value obtained was 21.614 and a p-value of 0.602, which fall on the acceptance region (p-value= 0.602 > α = 0.05 ). This result implies that policy direction for foreign trade has not been vigorously pursued. From the stand point of the findings, we recommend that the government should make effort to drastically reduce the uncertainty and unpredictability of the trade policy regime, as

this serves as disincentive to investment in Nigerian economy.

1INTRODUCTION

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Key words: Implementation, importers, exporters, rejection, acceptance

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rade is the exchange of goods and services between in- dustries and nation for money. International trade no doubt is highly a means of surviving in this world of di- versity and endowment. Trade is considered the engine of de- velopment strategies as it can create job, expand market, raise income, facilitate competition and disseminate knowledge. Like other developing countries, the Nigerian economy con- siders trade as a principal engine for growth. This is based on the implicit belief that trade creates jobs, expands markets, facilitates competition; disseminates knowledge and raises income both to the individuals and to the government ([1], [2]). [3], argued that trade liberalization aids growth, which in turn aids poverty alleviation, but adds that trade policy, should not none the less, be manipulated too closely with an eye to direct poverty consequences. He argues that it should rather be set on a sound basis over-all. The primary way to deal with poverty is through cross-cutting anti-poverty poli- cies. His conclusion was that given the different accounts giv- en in the literature, there is difficulty in establishing an empir- ical link between trade liberalization and growth. In other words, openness brings advantages not only on its own but also as part of a constellation of policies designed to ensure efficiency and competition in markets, and transparency and

predictability in policy-making. Consequently, and notwith- standing the fact that a number of pressing research questions remain, a liberal trade regime almost certainly boosts poverty alleviation at the long run. He stressed that liberalization should therefore be part of the armoury of a poverty-conscious government, but this does not imply a call for the immediate dismantling of all trade restrictions. Neither does it imply that opening up the borders is all that is needed, although it does advocate for a serious commitment to openness in the foresee- able future. [1], observed that the Nigerian government like many other developing countries, considers trade as the main engine of its development strategies, because of the implicit belief that trade can create jobs, expand markets, raise in- comes, facilitate competition and disseminate knowledge. Given the high protective tariffs, the perception of the gov- ernment has tended to be that the various export incentives may somewhat reduce the anti-export bias of trade policy measures. It is noteworthy that the impact of the incentive packages on non-traditional exports is limited by their acces- sibility to exporters; and even if the anti-export bias can be eliminated through the incentive schemes, the supply side response of non-oil exports, is severely constrained by other domestic factors such as infrastructure deficiencies, decrepit
Ijeoma Ngozi Blessing (PhD)

IJSER © 2013 http://www.ijser.org

Lecturer of Accountancy department, Nnamdi Azikiwe University, Awka-Nigeria
E-mail: amaro4baya@yahoo.com

International Journal of Scientific & Engineering Research, Volume 4, Issue 12, December-2013 1278

ISSN 2229-5518

financial and labour markets, embryonic export-related insti- tutions, macroeconomic instability, and budgetary constraints. [4], showed that the impact of international trade on relative wages (skilled/unskilled wages) depends on the market struc- ture of the industry affected. They argued that many of du- rable goods industries in the United States of America in the

1980s that employed a disproportionate share of less educated workers were highly concentrated, earned significant rents, and shared those rents with their workers by paying them, higher-than-average wages. Their empirical evidence showed that employment changes in a small group of trade-impacted concentrated industries can explain not only part of the aggre- gate rise in wage inequality in the United States of America, but also some of the differences in trends in wage inequality across metropolitan areas. As pointed out by [5], the impact of trade liberalization on the “informal” manufacturing sector and the existence of possible spill over effects on the rest of the economy have been overlooked. This is important because if dual labour markets are important in developing countries, then to overlook the implications of trade liberalization for the wage differential between “formal” and “informal” workers and on their mobility pattern may yield an incomplete de- scription of its impact on the entire labour market. In their contribution, [6], in their review of the impact of trade on la-

bour relationship between increased international competition

and imbalance. Also observed was the emergence of Nigeria as a major net world oil exporter in the early 1970s which brought about fundamental structural changes in the economy with profound impact on the external sector such that the Ni- gerian economy which was titled in favour of production of exportable agricultural produce in the 1960s became consider- ably less diversified as the oil sector dominated products and trade structures. He stressed that the Nigerian economy was pushed into deep recession due to the attendant collapse of oil prices especially since early 1980s and lack of effective inter- sector balance. This led to a reduction in the size and magni- tude of the tradable sector and gradually, the emergence of the “Dutch Disease” syndrome. Various policy measures were therefore put in place to check the rapid decline of the econo- my, one of which was the structural Adjustment Program (SAP) of 1986 which was designed to stimulate and enhance the production and export of non-oil productions. [12], noted that the acquisition of knowledge about how the international trading system works, the technical skills required and ade- quate institutional capacities, are distinct imperatives. Other critical elements identified for the enhanced participation of developing country members are co-ordination among gov- ernment agencies and between government and the business community. In his study, [13], has argued that Nigeria's trade
liberalization agenda has been characterized by a unilat-

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and “monopoly rents” enjoyed by the firms protected in the

past, they observed that there is no strong evidence of a nega-

tive effect of increased trade on unionism either in the United

States of America or in the United Kingdom. According to [7],

they showed that the increase in the return of the college-

educated workers coincides with the trade liberalization in

Brazil. They do not find any relationship between trade relat-

ed measures and the increase in wage premium in sectors

more affected by the reform, but they did find that the sector

specific skill premium did rise for skilled workers. According

to [8], he reported that attempts were made to use trade policy
to promote manufactured exports and enhance the linkages in
the domestic economy, to increase and stabilize export reve-
nue, and scale down the country's reliance on the oil sector in
Nigeria. In assessing the performance of trade policy, the view
has often been expressed that trade policy in itself may not be
able to accomplish the desired policy objectives, in the absence
of appropriate complements. Studies of trade liberalization
since the 1980s have shown that trade liberalization has failed
in many instances due to lack of appropriate accompanying
measures, and not so much as a result of faulty design of the
trade policies themselves. Such associated policies are macroe-
conomic policies, pro-growth regulatory and competition pol-
icy, investments in infrastructure, human resource develop-
ment, governance and the rule of law ([9], [10]). [11], examined
exchange rate and trade liberalization policies and the promo-
tion of manufactured exports in Nigeria. He observed that the
Nigerian economy has experienced overtime, structural trans-
formation learning in its trail, an uneven growth process ac-
companied by dramatic sector changes, structural distortions
eral/autonomous reform mechanism and has, as a result, been
fraught with a high degree of uncertainty and unpredictability.
The alternatives of regionalism and the World Trade Organiza-
tion would therefore engender the necessary "locking-in of
policy" and so forestall policy reversals and the uncertainty
and unpredictability that have so far obnubilated or obscured
Nigeria's trade policy. [14], explained that in theory, trade lib-
eralization in addition to its other benefits, is expected to in-
crease the proportion trade tax revenue in its share of total
revenue to the federal government through the imposition of
tariff and excise duties on both imports and exports respec-
tively. [15], examined the impact of liberalization policies on
building construction industry in Nigeria. He observed that
the building construction industry in any economy provides a
sensitive measurement and monitoring of the health or ill-
health of an economy, this is because the construction industry
is assumed to have a large share of capital formation. [16],
noted that the macroeconomic consequences of trade liberali-
zation have generated a great deal of debate among research-
ers in the world over. For developing countries like Nigeria,
the contribution of trade liberalization to overall economic
growth is immense due to inadequate domestic resources
(such as, capital goods, raw materials and technical know-
how); and the potential revenue derived from international
trade. In the light of this, their study examined the effect of
trade liberalization on trade tax revenue in Nigeria. The em-
pirical result of their study showed that trade liberalization,
gross domestic product, public debt and labour force had a
positive net effect on trade tax revenue while exchange rate
had a negative net effect on trade tax revenue. Also they noted
Ijeoma Ngozi Blessing (PhD)

IJSER © 2013 http://www.ijser.org

Lecturer of Accountancy department, Nnamdi Azikiwe University, Awka-Nigeria
E-mail: amaro4baya@yahoo.com

International Journal of Scientific & Engineering Research, Volume 4, Issue 12, December-2013 1279

ISSN 2229-5518

that the beta coefficient of the model generated in their study showed that labour force, public debt and exchange rate had significant influence on trade revenue while trade liberaliza- tion and gross domestic product were found to have an insig- nificant influence on trade tax revenue. They recommend that the need for the implementation of appropriate policies (such as foreign exchange policy and financial market deregulation policy) as a complimentary policy to enhance the success of trade liberalization in Nigeria. [17], explores the relationship between the real exchange rate and economic activities in Ni- geria, considering the aggregate demand and supply trans- mission mechanism. The result of his study showed that while depreciation of real exchange rate encourages the cost of pro- duction, internal competitiveness of domestic goods and raises export in the former, it increases cost of production and dis- tributes income against the poor in the later. The empirical result showed that only real exchange rate and interest rate are not significantly related to gross domestic product, though they are rightly signed. [18], in their study did not find evi- dence that trade liberalization has any overall widening effect on wage differentials for a panel of eighteen Latin American countries; including Brazil for the period 1977 to 1998. [19], noted that exports of goods and services represent one of the most important sources of foreign exchange income that ease
the pressure on the balance of payments and create employ-
and distribution (price distortion and factor accumulation) and technological transmission (technology transmission and foreign direct investment). Trade policy reforms through bind- ing commitments provide required external anchor for gov- ernment policies. The consequences of not been virtuous in other policy handles are usually devastating such as in the case of capital flight and migration of skilled manpower. It is generally agreed that effective trade policy reform potentially tied the hands of government especially when the commit- ments are binding at regional and multilateral levels. The ef- fects of trade policy reforms on government activity and its size is subject to empirical verification as large government size may insulate consumers from various shocks. However, the need to ensure that the economic activities are competitive may limit the size of government and in this sense large size of government is inconsistent with liberal trade reform. An open economy is expected to be characterised by a lower degree of price distortion. [22], reported that import prices translate at higher rate in Asian emerging economies than developed economies. This raises the question of efficient pricing be- tween exporters of goods to Nigeria and importers. The im- provements in the lives of the people are more seen in their ability to consume imported goods at the micro level and the impact this trend has on the economy is to create pressure on
the exchange rates (both official and autonomous). Alterna-

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ment opportunities. An export led growth strategy aims to
provide producers with incentives to export their goods
through various economic and governmental policies. It’s also
aims to increase the capability of producing goods and ser-
vices that are able to compete in the world market, to use ad-
vanced technology, and to provide foreign exchange needed to
import capital goods. Exports can increase intra-industry
trade, help the country to integrate in the world economy and
reduce the impact of external shocks on the domestic econo-
my. Experiences of Asian and Latin American economies pro-
vide good examples of the importance of the export sector to
economic growth and development, which led economists to
stress the vital role of exports as the engine of economic
growth. [20], estimated the export tax equivalent of imports,
which implies that if the average tariff in Egypt is taken to be
20.2%, the equivalent export tax would be 13.9%. Therefore,
the custom duties on imports in Egypt would have an equiva-
lent export tax of about 10 to 14% plus about 3% to 4% of sup-
plementary charges. In addition, they observed that import
tariffs of inputs used by producers of other goods or services
represent an additional cost for exporters. Based on the 1997
tariff structure in Egypt, the additional cost to manufacturing
was 2.7% and 4.8% for agriculture. Egypt’s custom duties and
tariff rates were very high compared to other developing and
emerging economies, which eventually led to falling produc-
tivity, a diversion of resources and investments from the in-
dustrial sector and increasing unemployment. [21], in his
study identified and analysed some channels through which
trade reform impact on growth to include government policy
(macroeconomic policy and size of government), allocation
tively more imported goods are taken as components of the
index. He added that the Nigerian elite has developed a pen-
chant for purchasing imported goods to show the new middle
class status it has achieved, even sending children to study
overseas. The ability to purchase some goods having been en-
hanced, has fuelled this trend, where most of the goods avail-
able for purchase from consumer loans granted by commercial
banks are those imported into the country. [9], argued that in
assessing the performance of trade policy, the view has often
been expressed that trade policy in itself may not be able to
accomplish the desired policy objectives, in the absence of ap-
propriate complements. Studies of trade liberalization since
the 1980s have shown that trade liberalization has failed in
many instances due to lack of appropriate accompanying
measures, and not so much as a result of faulty design of the
trade policies themselves. Such associated policies are macroe-
conomic policies, pro-growth regulatory and competition pol-
icy, investments in infrastructure, human resource develop-
ment, governance and the rule of law. In their contribution,
[23] examined the relationship between trade liberalization,
exchange rate changes and tax revenue in Sub-Saharan Africa
using a panel of twenty-two countries for the periods span-
ning 1980 to 1996. Utilizing a General Method of Moment Re-
gression technique, their study found that the relationship
between trade liberalization and tax revenue is sensitive to the
measure used to proxy trade liberalization, but in general,
trade liberalization is not strongly linked to higher income tax
revenue. They concluded that trade liberalization accompa-
nied by the appropriate macroeconomic policies can be under-
taken to enhance overall revenue yield. [24], speaking on im-
Ijeoma Ngozi Blessing (PhD)

IJSER © 2013 http://www.ijser.org

Lecturer of Accountancy department, Nnamdi Azikiwe University, Awka-Nigeria
E-mail: amaro4baya@yahoo.com

International Journal of Scientific & Engineering Research, Volume 4, Issue 12, December-2013 1280

ISSN 2229-5518

pact of liberalization policies on the building construction in- dustry in Nigeria, noted that the building construction indus- try in any economy provides a sensitive measurement and monitoring of the health or ill-health of an economy, this is because the construction industry is assumed to have a large share of capital formation. [25], examined the effect of trade liberalization on exports of fish and shrimps in Nigeria. He developed a short run-forecasting model to predict the quanti- ties of fish and shrimps that could be exported within a three- year period (1999-2001). The effect of liberalization was exam- ined with the aid of an econometric model, which was esti- mated empirically. The findings of his study revealed that the liberalization policy of exchange rate adjustment is as im- portant factor affecting fish and shrimps export. He also sug- gested that a real depreciation or appreciation of the naira for example, tends to stimulate farmers to increase or decrease supply for fish and shrimps exports thus taking advantage of the improved international competitiveness.

Table 1: Responses on level of implementation of Trade Instrument and

Strategies

Source: field work (2012)

Table 2: Responses on vigorous pursue of policy direction for foreign

Trade

Nigeria is a developing country endowed with great potentials to become a developed and industrialized nation. Utilizing the resources abundantly endowed for Nigeria to move ahead seems to have been besieged by numerous structural prob- lems. The government of Nigeria is implementing a mix of microeconomic and trade policies with a view to revamping the economy and thereby improving the welfare of the people. These policies however seem to be implemented within a framework of weak economic structure. Hence, there seem not to be a conducive and competitive environment in which Ni- geria enterprises can thrive and effectively compete in the global and regional economy. The long standing import re-
striction polices and import tariff could affect the availability of manufacturing inputs and subsequently export supplies. The objective of the present study is to determine the level of implementation of trade instruments and strategies, and to ascertain if the policy direction for foreign trade has been vig- orously pursued over the years in Nigeria.

2 MATERIAL AND METHODOLOGY

2.1 Data Collection

The method of data collection used in this study was field sur- vey method involving the use of questionnaire. A sample of 95 questionnaires was administered to a cross section of import-

Source: field work (2012)

3.0 DATA ANALYSIS

3.1 Chi-Square Test on level of implementation of Trade In- strument and Strategies

H01: Implementation of trade instrument and strategies has not

been low

H11: Implementation of trade instrument and strategies has been low

Expected counts are printed below observed counts

Ijeoma Ngozi Blessing (PhD)

IJSER © 2013 http://www.ijser.org

Lecturer of Accountancy department, Nnamdi Azikiwe University, Awka-Nigeria
E-mail: amaro4baya@yahoo.com

International Journal of Scientific & Engineering Research, Volume 4, Issue 12, December-2013 1281

ISSN 2229-5518

Chi-Sq = 2.723 + 0.200 + 0.893 + 0.366 + 0.396 + 0.840 +

0.200 + 0.143 + 2.110 + 1.857 + 2.429 + 0.800 + 1.587 +

2.289 + 14.242 + 2.723 + 0.200 + 0.893 + 0.366 + 0.396 + 0.840

+ 0.000 + 0.143 + 0.366 + 0.396 + 1.017 + 0.200 + 0.254 +

0.443 + 0.011 + 0.840 + 3.200 + 0.143 + 1.187 + 0.396 =

45.088

DF = 24, P-Value = 0.006

The result of the analysis presented in section 3.1, showed that
majority of the respondents believed that, the implementation
of trade instrument and strategies has been very low since the
option “very low” recorded the highest column total (very low
=39). Also, the null hypothesis was rejected since the chi-
square test statistic value obtained was 45.088 and a p-value of
0.006, which fall on the rejection region (p-value=

0.006 < α = 0.05 ). This result implies that implementation of

trade instrument and strategy has been low.
The result of the analysis presented in section 3.2, showed that majority of the respondents claim that policy direction for for-

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3.2 Chi-Square Test on vigorous pursue of policy direction for

foreign Trade

H02: The policy direction for foreign trade has not been vigor- ously pursued

H12: The policy direction for foreign trade has been vigorously pursued

Expected counts are printed below observed counts

Very high High Low Very low Undecided Total

eign trade has been low since the option “low” recorded the
highest column total (very low =163). Also, the null hypothesis
was accepted since the chi-square test statistic value obtained

was 21.614 and a p-value of 0.602, which fall on the acceptance region (p-value= 0.602 > α = 0.05 ). This result implies that policy direction for foreign trade has not been vigorously pur- sued.

5 CONCLUSION

The Nigerian government like many other developing coun- tries considers trade as the engine of its development strate- gies, because of the implicit belief that trade can create job, expand market, raise incomes, facilitate competition and dis- seminate knowledge. This study examined the impact and policy strategies of trade liberalization in Nigeria. From the result of the analysis, it was found that implementation of trade instrument and strategy in Nigeria has been low over the years. Also, it was observed that policy direction for for- eign trade has not been vigorously pursued. From the stand point of the findings, we recommend that the government should make effort to drastically reduce the uncertainty and unpredictability of the trade policy regime, as this serves as disincentive to investment in Nigerian economy. Also, we ad- vocate that government should create a conducive and com- petitive environment where Nigeria enterprises can thrive and effectively compete in the global and regional economy.
Ijeoma Ngozi Blessing (PhD)

IJSER © 2013 http://www.ijser.org

Lecturer of Accountancy department, Nnamdi Azikiwe University, Awka-Nigeria
E-mail: amaro4baya@yahoo.com

International Journal of Scientific & Engineering Research, Volume 4, Issue 12, December-2013 1282

ISSN 2229-5518

REFERENCES

[1] World Trade Organization, (2005). Trade Policy Review Nigeria 2005. WTO and Bernan Associates, Geneva, Switzerland.

[2] Nwosa, P. I., Saibu, M. O., Fakunle, O. O. (2012). The Effect of Trade Liberalization On Trade Tax Revenue in Nigeria. African Economic and Business Review, 10(2), Fall 2012.

[3] Winters, Allan (2002). Trade Policies for Poverty Alleviation. In Hoekman, Bernard, Mattoo, Aaditya and English, Philip (eds). Development, Trade and the WTO, A Handbook. World Bank, Washington

D.C.

[4] Borjas, George J. and Ramey, Valerie A. (1995). Foreign Competition, Market Power and Wage Inequality. Quarterly Journal of Economics. Vol.110, pp.1075-1110.

[5] Behrman, Jere. R, (1999). Labour Markets in Developing Countries In Handbook of Labour Economics, Vol.3, Ed. O. Ashenfelter Card. Elsevier Science.

[6] Johnson, G. and F. Stafford, (1999). The Labour Market Implications of International Trade. In Handbook of Labour Economics, Vol.3. Ed. O. Ash- enfelter and D. Card. Elsevier Science B. B.

[15] Olokesusi, F. (1998). The impact of liberalization policies on the build- ing construction industry in Nigeria. A Publication of the NISER/SSCN Research Network, 1998.

[16] Nwosa, P. I., Saibu, M. O., Fakunle, O. O. (2012). The Effect of Trade Liberalization On Trade Tax Revenue in Nigeria. African Economic and Business Review, 10(2), Fall 2012.

[17] Akinkunmi, M. A. (2007). An Empirical Investigation of Real Exchange Rate Impact on Economic Activities: The case of Nigeria. Economic Depart- ment, University of lagos, Akoka, lagos Nigeria.

[18] Behrman, Jere R., N. Birdsall and M. Szekely. Economic Policy and Wage Differential in Latin America. Penn Institute for Economic Research, Working Paper, 2001; 01-048.

[19] Abou-Stait, F. Are Exports the Engine of Economic Growth? An Ap- plication of Cointegration and Causality Analysis for Egypt, 1977-2003. Economic Research Working Paper, No 76 (July 2005): 1-18. http://www.afdb.org/

[20] Kheir-El-Din, H. and El-Shawarby, S. Trade and Foreign Exchange

Regime in Egypt. Economic Research Forum Working Paper 2034, 2000.

[21] Wacziarg, R. Measuring the Dynamic Gains from Trade, The World

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[7] Pavcnik, N., A. B. P. Goldberg and N. Schady, (2002). Trade Liberalization and Labour Market Adjustment in Brazil, Dartmouth College. Mimeo.

[8] Olaniyi, Oyinlola (2005). Nigeria's Trade Policy from 1960 - 2004: A critical Review. Paper presented at the Workshop on Capacity Building on In- ternational Trade. National Assembly in Collaboration with Friedrich Ebert Stiftung (Nigeria), Jos, 25 - 27 July 2005.

[9] Osakwe, Chiedu and Sarath, Rajapatirana (2001). "Mainstreaming Trade in Development Strategy". Available online at www.southcentre.org/info/south bulletin07/bulletin07-03.htm

[10] Panitchpakdi, Supachai (2002). Trade Policies cannot work on their own. Available at www.wto.org/wto news/Supachai Speeches

[11] Jerome, A. (1998). Exchange Rate and Trade Liberalization Policies and the promotion of Manufactured Exports in Nigeria. A Publication for the NISER/SSCN Research Network

[12] Tussie, Diana and Lengyel, Miguel, (2002). Developing Countries: Turning Participation to Influence. In Hoekman, Bernard, Mattoo, Aaditya and English, Philip (eds). Development, Trade and the WTO,

A Handbook. World Bank, Washington D.C.

[13] Oyejide, Ademola T., (2002). External Sector Policies in the 2002 Fed- eral Budget: An Assessment. NCEMA Policy Analysis Series, Vol. 8, No. 1,

63 -78.

[14] Keen, M., and Lighart, J. I. (2002). Coordinating Tariff Reduction and

Domestic Tax Reform. Journal of International Economics, 56, 489-507.

Bank Economic Review, 2001;15(3): 393-429.

[22] Adekunle, A.K. (2010). Exchange Rates and the Consumer Price Index in Nigeria: A Causality Approach. Journal of Emerging Trends in Economics and Management Sciences (JETEMS), 2010; 1 (2): 114-120.

[23] Olokesusi, F. (1998). The impact of liberalization policies on the building construction industry in Nigeria. A Publication of the NISER/SSCN Research Network.

[24] Agbeyegbe, T., Stotsky, J. G., and WoldeMariam, A. (2004). Trade Liberalization, Exchange Rate Changes and Tax Revenue in Sub-Saharan Africa. IMF Working Paper WP/04/178

[25] Ogundele, F. (2001). Effect of trade liberalization on Nigeria’s fish and shrimps exports short-run forecasting model. NISER Monograph Series, 2001.

APPENDIX

Section A

Ijeoma Ngozi Blessing (PhD)

IJSER © 2013 http://www.ijser.org

Lecturer of Accountancy department, Nnamdi Azikiwe University, Awka-Nigeria
E-mail: amaro4baya@yahoo.com

International Journal of Scientific & Engineering Research, Volume 4, Issue 12, December-2013 1283

ISSN 2229-5518

is necessary for production and ex- ports

2. Aggressive promo- tion of exports and

economic diplomacy 1 4 6 9 0

3. Harmonization of tariffs with (UEMOA) and oth- ers to create the

CET 0 3 8 2 7

4. Continue to use spe- cial series of import restriction in partic- ular circumstances to protect industries and critical sectors against unfair com-

petition to protect 5 4 3 7 1

5. Rationalization and strengthen institu- tions responsible for

trade facilitation 1 5 6 7 1

6. Cooperation with other African and developing countries to ensure that the WTO trade negotia- tions address the concern and interest

of Nigeria and Afri- ca including pro-

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priety leadership 4 6 4 4 2

7. Continued liberali- zation of the econ- omy to attract assis- tance from the inter-

national community 1 9 6 3 1

Ijeoma Ngozi Blessing (PhD)

IJSER © 2013 http://www.ijser.org

Lecturer of Accountancy department, Nnamdi Azikiwe University, Awka-Nigeria
E-mail: amaro4baya@yahoo.com