Nigerian firms have been involved in the international trade many decades ago but with government policy the obvious need to reduce dependence on crude oil exports, and the needs to revamp the country economy many firms have found themselves involved in international trade in a number of different circumstances. In view of the economic downturn over the past decade, we have now recognised the role non oil exports can play in diversifying the foreign exchange and revenues base of the nation as well as relieving deficits on the balance of payments. Even one of the major objectives of the Structural Adjustment Programme (SAP) was promotion of exports particularly non-oil exports.
The export (Incentive and Miscellaneous Provisions) Decree was promulgated by the federal government, effective from July 11, 1986, in a bid to boost non-oil export commodities in Nigeria. Importers and Exporters are not special breeds. They include thousands of companies, large and small, who sell and buy overseas as well as in the home markets. Some enter the international trade enthusiastic for overseas business, other are reluctantly draws into selling and buying abroad in order to increase turnover. Some look to international markets for much of their turnover. While others take only the occasional export and import orders.
