Introduction
International trade involves the exchange of goods and services
across borders, essentially import and export transactions. It is
premised on the reality that no country is self-sufficient and
countries respectively have comparative advantage on production and
supply of different goods and services. Exportation of goods helps
a country earn Foreign Exchange (FX) that can be used to finance
future transactions and shore up its foreign reserves.
The downturn in oil prices coupled with the reduced crude
production (due to incessant militant attacks) in the Niger Delta
region has led to lower revenues for the government which has
impacted negatively on the economy. Consequently, the case for
diversification of the economy from its over dependence on oil
cannot be more strident at this time, and increased focus on the
export space is now compelling, given historic half- hearted
attempts at export promotion. Nigerian Exportation Promotion
Council (NEPC), the
