Q1.

NAME: AISHATU BALA IBRAHIM

MATRIC NO: HBA/19/3221

DEPT: BUSINESS ADMINISTRATION

LEVEL: HND I

DATE: 20/01/2021

QUESTION: ASSIGNMENT

Q1.Explain the contribution of the following in promoting and advancing small

business in Nigeria

i. Manufacturer Association of Nigeria (MAN)

ii. Raw Materials Research and Development Council
iii. Nigeria Export Promotion Council
iv. Nigeria import export bank

Q2. Do profit comes to an organization when responsibility have been met or must
an organization make a profit before it can meet its responsibly

i. Manufacturer Association of Nigeria (MAN)

The Manufacturers Association of Nigeria (MAN) was established in 1971 as a

company limited by guarantee. The establishment of the Association was
motivated by the desire to have a focal point of communication and consultation
between industries on the one hand, and the government and general public on the
other.

CONTRIBUTION
To promote export of Nigerian goods, MAN has an Export Group. MAN also has a
Gas Users Group.

In order to promote and develop meaningful contribution of manufacturers to the

national economy, the National Council laid down the following code of conduct
for members of the Association:

Endeavour to maintain in all aspects of their operations, a high level of business

ethics and recognized standards, thus refraining from all business dealings of
questionable nature, which could bring the Association or the manufacturing sector
as a whole into disrepute.

Demonstrate transparent commitment to Nigeria’s industrial objectives and

policies; placing Nigeria’s best interest above all others and increasing the
contribution of the manufacturing sector to the economy, and towards the
improvement of the quality of life of Nigerians.

Promote, encourage and improve quality standards and process control in all their
manufacturing operations.

Refer to the National Council of the Association, any disagreement between

members of the Association for arbitration before either party can pursue such a
matter further (if necessary) after Council’s intervention.

To ensure that the needs of manufacturers at both the State and Local Governement
levels are met. However, due to the rate of industrial development in some states,
these states have been grouped together until such a time that there are enough
member companies from each state to form a Branch. All Branch offices are
headed by full-time Executive Secretaries and a compliment of staff.

Q2. RAW MATERIALS AND RESEARCH AND DEVELOPMENT COUNCIL

This firms in Nigeria helps in the contribution of small business in Nigeria, below
are the explanations of the bodies:

Promoting the Development and Utilization of Indigenous Raw Materials for the
Leather and Footwear Industry in Nigeria” is of particular relevance in view of the
myriad of challenges that currently confront our nation as a result of the economic
recession caused mainly by a drop in global oil prices. Before the discovery of
crude oil, the Nigerian economy was predominantly sustained by agriculture,
providing the bulk of our foreign exchange earnings, employment and government
revenue. The share of agriculture in the Gross Domestic Product (GDP) declined
significantly in the 1980’s while crude oil revenue replaced agriculture as the
nation’s mainstay during this period. The period brought with it profound changes
in the Nigerian economy and with the large receipts from crude oil exports, there
was excessive importation of finished goods, raw materials, food and services
resulting in high import bills. In addition to this, was the proliferation of import
substituting manufacturing industries which depended heavily on imported inputs
with very low local value added till today. The establishment of Raw Materials
Research and Development Council (RMRDC) in 1987 had its background in the
above stated scenario in the Nigerian economy 2

Q3. NIGERIA EXPORT PROMOTION COUNCIL

The Nigerian Export Promotion Council] (NEPC) was established through the
promulgation of the Nigerian Promotion Council Decree No. 26 of 1976, and was
formally implemented in March 1977. The act was [amended]] by Decree No. 72
of 1979 and further amended by the Nigerian Export Promotion Council Decree
No. 41 of 1988.

The last was authored to enhance the performance of the council by minimizing
bureaucratic bottlenecks and increasing autonomy in dealing with members of the
organised private sector. The Council has a governing board drawn from both the
public and private sectors.

The contribution of Nigerian Export Promotion Council to Nigeria small business:

i. To collect and disseminate information on products available for export

in small business.
ii. To collect and disseminate to local manufacturers and exporters
information on foreign markets.
iii. To Provide technical assistance to local exporters in such areas as export
procedures and documentation, transportation, financing, marketing
techniques, quality control, export packaging, costing and pricing,
publicity and in other similar areas.
iv. To maintain adequate and effective representation in other countries.
v. To provide, directly or jointly, with training institutions, training for its
staff and assist with the manpower development of the export community
in Nigeria.
vi. To organize and plan the participation of Nigeria in trade fairs and
exhibitions.
 vii. To administer grants and other benefits related to export promotion and
development.
viii. To undertake studies of the current economic conditions, with special
attention to the export sector with the aim of advising government on
necessary policies and measures.

Q4. The Nigerian Export-Import Bank (NEXIM)

These export promotion programs became necessary since their objectives were to
help provides for export credit to willing investors in the country.

These export promotion programs came to be, through the initiatives of this
agency, called the Nigerian Export Promotion Council.

There were several export promotion programs going on in the country, programs,
such as an export processing zone program, and tax subsidy program, and
concessionary financing program, as well as an export credit guarantee program.

But unfortunately, these export promotion programs lacked money to fund local
investment in the country.

This was pathetic, as there was not even adequate finance to fund agricultural
development in the country.

However, the coming of the Nigerian Export and Import Bank has served as a
relief to this problem of lack of credit to finance local investmentBe that as it may,
the Nigerian Export and Import Bank in 1991, has to begin its business operation
in the country, I think with about N500milion, this was in 1991, and from all
indications, there is a belief that the Nigerian Export and Import Bank has worked
to justify its statutory functions. And in this article, we are going to look at quite a
number of them.
Q5. PROFITS HAS TO COME BEFORE RESPONSIBILTY

Profits has to be met in a business before responsibility follows, the main aim of
establishing business is to maximized profits and minimized lost this can only be
done by doing the needful thing, we can't be overwhelmed in this Questions, but
they both work hand in hand, below are the following key terms;

1. Economic value added suggests that a principal challenge for a business is

balancing the interests of new parties affected by the business, interests that are
sometimes in conflict with one another.

Alternate definitions state that a business’ principal purpose is to serve the interests
of a larger group of stakeholders, including employees, customers, and even
society as a whole.

Many observers hold that concepts such as economic value added are useful in
balancing profit -making objectives with other ends.

Social progress is an emerging theme for businesses. It is integral for businesses to

maintain high levels of social responsibility.

Key Terms

corporation: A group of individuals, created by law or under authority of law,

having a independent of the existences of its members, and powers and liabilities
distinct from those of its members.

stakeholder: A person or organization with a legitimate interest in a given situation,

action, or enterprise.
corporate social responsibility (CSR): A company’s sense of responsibility towards
the community and environment (both ecological and social) in which it operates.
Companies express this citizenship (1) through their waste and pollution reduction
processes, (2) by contributing educational and social programs and (3) by earning
adequate returns on the employed resources.