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THE EFFECT OF IMPORTED GOODS ON NIGERIA ECONOMY (A COMPARARTIVE STUDY)
CHAPTER ONE
1.1
1.2 STATEMENT OF THE PROBLEM
The Nigeria market is filled with varieties of imported goods, durable and non durable. Despite the fact that some have been banned, others have high prices and a lot of them are either ‘fairly’ used or not premium quality they still command utility to the Nigerian consumer. Locally produced goods are seen as inferior while imported goods are assumed to be of high quality. There is this seemingly belief that imported goods are more durable and long lasting that the locally made goods.
It is against this backdrop that the researcher examines the effects of imported goods on the Nigeria economy by comparing locally made goods with imported goods.
1.3 OBJECTIVES OF THE STUDY
The main objective of this study is to examine the effects of imported goods on the Nigeria economy. In other to achieve this objective, the researcher;
i Examined the level of imported goods in the Nigeria economy
ii Examined the factors responsible for imported goods in the Nigeria economy
iii Determine the consumer’s preference for imported goods and locally made goods
iv Identify the effects of imported goods on the Nigerian industries and GDP.
1.4 RESEARCH QUESTIONS
The following questions formed the basis for the research project.
i What is the level of imported goods in the Nigerian economy?
ii What are the factors responsible for imported goods in Nigeria?
iii Do Nigerian consumers prefer imported goods to locally produced
goods?
iv What are the effects of imported goods on the Nigeria local industries and GDP?
1.5 STATEMENT OF RESEARCH HYPOTHESIS
The following hypothesis will be tested
Ho1. The level of imported goods in Nigeria is not high.
Ho2 Imported goods are not of high quality.
Ho3 Nigerian consumers do not prefer imported goods to locally made goods
Ho4 Imported goods do not have any significant effect on nigeria’s local industries and GDP
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study lies in the fact that its findings will enable policy makers to make informed decision. It will also be useful to business owners and managers in identifying consumer’s preferences. This research work will also serve as a contribution to the body of knowledge and as a reference literature for future studies on the effects of imported goods on national economy. It is also the basis for the award of Bachelor of Science degree to the researcher.
1.7 SCOPE OF THE STUDY
The research project dealt specifically on the effects of imported goods on the Nigerian economy. It focused on only Nigerian consumers and their perception of imported goods as well as its effects on the economy.
The researcher isolated and analysed strategically located merchandise shops/businesses along Nnebisi road in Asaba metropolis. Shops/businesses where local and foreign goods are sold were investigated.
1.8 LIMITATIONS OF THE STUDY
The researcher encountered some challenges in the study. Certain factors posed as limitations to this research project. There was too much pressure as a result of limited time for the research project combined with the normal academic works of the researcher. However, the researcher devoted adequate time on the research.
There was also financial constraints, since research requires money for sourcing and printing of materials as well as other incidental cost. However, the researcher was able to minimize the costs to the lowest possible level. These limitations does not have in any way reduce the relevance of the research study as the researcher was able to contain all the limitations imposed by the study.
1.9 DEFINITION OF TERMS
Second Hand Goods: These are consumer goods that have previously been used but are still in good/fairly good condition. They are also referred to as ‘tokunbo’ goods in Nigeria.
Premium Quality: This refers to goods that are of high quality.
Utility: This refers to the satisfaction derived by a consumer from the consumption of a commodity or service.
Dumping: This refers to heavy inflow of low priced foreign goods to a country as a way pushing the goods out of the country where it was produced.
Consumer Orientation: This refers to the philosophy that the consumer is the most important entity to the business enterprise.
1.10 ORGANISATION OF THE STUDY
This research project is organised into five chapters, which is the standard for academic research project. Chapter one is the introduction which covers the background to the study; the problem of the study; the objectives of the study; the research questions; the research hypothesis; the significance of the study and the scope as well as the limitations of the study. Chapter two reviews literatures related to the study. Chapter three presents the research methodology adopted by the researcher. Chapter four deals with the presentation and analysis of data. Chapter five is the summary, conclusion, discussion of findings and recommendations.
1.11 SUMMARY
Statistical data from previously years showed that Nigeria’s import for consumer goods has been increasing over time, in spite of the efforts of government on the prohibition of the import of consumers’ goods with some exceptions. Most outlets and markets are still flooded with these goods. Nigerians perception and attitudes are still positively disposed towards imported goods and they are ready to buy them given the purchasing power.
1.12 REFERENCES
Agbonifoh, B.A, Ogwu O.E, and Nnolin D.A, and Ekerete, P.P (1998):
Marketing in Nigeria; Concepts, Principles and Decisions. First Edition. Aba-Nigeria, Afritowers Limited Publishers.
Anyanwu, J.C, Oyefusi, A, Oaikhenan, H; and Dimowo, F. A (1997): The Structure of the Nigerian economy (1960-1997). Onitsha-Nigeria; Joanee Educational Publishers Ltd.
Olakunori, Ok K. (2002): Dynamics of Marketing. Second Edition, Enugu Providence Press (Nigeria) Limited.
Ozo, V.U (2002): Behavioural Aspects of Marketing; An Analysis of consumer and Marketer Behaviour. Hugotez Publications Enugu. Nigeria.