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THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.73, # 2, 2016, pp. 27-41

other things finance export related industries in Nigeria. In evaluating the potency of
these reforms in this aspect, one would not hesitate to ask if the export sector of the
economy has actually contributed more to the nation‟s growth in the reform era than
in the pre-reform era. To answer this question, this paper seek to ascertain if the
banking sector reforms in Nigeria has actually enhanced the contribution of export
earnings to the nation‟s growth.
In an effort to achieve the above stated objective, the rest of this paper is
organized as follows: section 2 briefly introduces the Nigeria‟s export promotion
council. In section 3, we present an overview of Nigeria‟s foreign trade with more
emphasis on export. Section 4 discusses the banking sector reforms in Nigeria.
Section 5 reviews related literature. Section 6 exposes us to the relevant
methodological issues. Section 7 presents the results of the study and discusses the
findings. Section 8 finally summarizes and concludes the study.

2. The Nigerian export promotion council: a brief over view
To ensure the promotion of export in Nigeria, the country‟s Federal
government in 1976 established the Nigerian Export Promotion Council (NEPC).
This was achieved through the promulgation of the Nigerian Export Promotion
Council Decree No. 26 of 1976, now an Act in line with the democratic governance
of the Country. This Act was amended by Decree No. 72 of 1979 and further
amended by the Nigerian Export Promotion Council Decree No. 41 of 1988 and
complemented by the Export (Incentives and Miscellaneous Provisions) Decree No.
18 of 1986 (Wikkipedia, 2016).
Wikkipedia (2016) further reported that the Nigerian Export Promotion
Council (Amendment) Decree No. 64 and 65 of 1992 was promulgated to enhance
the performance of the Council. The Council is the leading Federal Government
Agency charged with the broad responsibility of promoting non-oil export in Nigeria
to diversify away from oil and build a formidable economy. With the vision of
promoting non-oil exports to become the key driver of the Nigerian economy, the
NEPC on establishment, was charged with the following specific responsibilities:
 To promote the development and diversification of Nigeria‟s export trade.
 To assist in promoting the development of export related industries in
Nigeria.
 To spearhead the creation of appropriate export incentives.
 To actively articulate and to promote the implementation of export
policies and programmes of the Nigerian Government.
 To co-ordinate and monitor export promotion activities in Nigeria.
 To collect and disseminate information on products available for export.

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