NAME: ABDULRAUF SALMAH MOJISOLA

MATRIC NO: HBA/19/3186

DEPT: BUSINESS ADMINISTRATION

LEVEL: HND I

TITLE: ASSIGNMENT

QUESTIONS:

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 responsibility

ANSWERS:

Q1. Manufacturers Association of Nigeria (MAN)

MAN is in business to create a climate of opinion in this country in which

manufacturers can operate efficiently and profitably for the benefit of all. As the
collective voice of its members, MAN was established to promote and protect
manufacturer’s collective interests.

To promote, in close cooperation with business partners, and other organs of the
Organized Private Sector (OPS), the government and other stakeholders in the
economy, an enabling environment for industrial development, growth and
prosperity of the society at large.

Provide for small business all over Nigeria the means of formulating, making
known and influencing general policy in regard to industrial, labour, social, legal,
training, and technical matters;

To develop and promote the contribution of small businesses organisation

through the national economy by empowering them from the government,

To encourage a high standard of quality of members’ products through the

collective and circulation of useful information and the provision of advice;

To encourage the patronage of members’ products by Nigerians and by

consumers in foreign countries.

Its helps to provides and increased in business and to create a climate of opinion
in this country in which manufacturers can operate efficiently and profitably for
the benefit of all. As the collective voice of its members, MAN was established to
promote and protect manufacturers’ collective interests.

Q2. RAW MATERIALS RESEARCH AND DEVELOPMENT COUNCIL

Raw Materials Research and Development Council to develop local raw materials
and small Business in Nigeria.

promote efficient synergy among stakeholders involved in raw materials value

chain for the purpose of ensuring sustainable sourcing of raw materials in Nigeria.

provide conducive platform for exhibition and showcasing of the available raw
materials in order to aid the sustainable sourcing of inputs of manufacturing in
Nigeria.

facilitate direct business interactions and transactions between producers and

users of raw materials at large economics of scale.

encourage the growth and development of resource-based micro, small and

medium manufacturing industries in Nigeria
Is aimed at developing production and business management skills through
purpose-designed training programmes for the small and medium scale leather
products manufacturers. The hides and skins improvement component facilitates
a sectoral strategy for hides and skins handling in Nigeria.

Improved the quality and income of footwear and other leather products
manufactured by the small-scale entrepreneurs.

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 following is contribution in advancing
small business.

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:

To establish specific trade promotion facilities in Nigeria and in other countries

including the establishment of permanent showrooms at important commercial
centers in other countries.

To engage in export promotion publicity

To pursue the simplification and streamline of export procedures and

documentation on continuous basis.

To assist in finding appropriate solutions to practical problems encountered by

exporters in the process of exportation.

To plan and organize outward trade missions and provide support from Nigeria.

To perform such other functions as maybe conducive to the achievement of the

objective of the Export Decrees.
Q4. The Nigerian Export-Import Bank (NEXIM) was established by Act 38 of 1991
as an Export Credit Agency (ECA) with a share capital of N50, 000,000,000 (Fifty
Billion Naira) held equally by the Federal Ministry of Finance Incorporated and the
Central Bank of Nigeria. The Bank which replaced the Nigerian Export Credit

Guarantee & Insurance Corporation earlier set up under Act 15 of 1988, has the
following main statutory contribution: –

Provision of export credit guarantee and export credit insurance facilities to its
clients.

Provision of credit in local currency to its clients in support of exports in small

Business.

Establishment and management of funds connected with exports in small

Business.

Maintenance of a foreign exchange revolving fund for lending to exporters who

need to import foreign inputs to facilitate export production.

Provision of domestic credit insurance where such a facility is likely to assist

exports in small Business.

Maintenance of a trade information system in support of export business.

The Bank presently provides short and medium term loans to Nigerian exporters.
It also provides short term guarantees for loans granted by Nigerian Banks to
exporters as well as credit insurance against political and commercial risks in the
event of non-payment by foreign buyers. The Bank is also the government’s
National Guarantor under the ECOWAS Inter-state Road Transit programme.

Q2. RESPONSIBILITY HAS TO BE MET BEFORE PROFITS COMES

In establishing a business, things that are need to be considered are the

marketing concept or strategies of the customer’s need, an entrepreneur need to
fulfill the proper requirements of the customers based on the structure of the
business.
Here come to the responsibility of the business owner, to evaluates a business
which will increase the profits of the business.

Companies are increasingly ramping up their focus on social responsibility,

whether it’s championing women’s rights, protecting the environment, or
attempting to obliterate poverty, on local, national, or global levels. From an
optics perspective, socially responsible companies project more attractive images
to both consumers and shareholders alike, which serve to positively affect their
bottom lines.

REFERENCE

Burton's Legal Thesaurus, 4E. S.v. "business." Retrieved April 1, 2018 from
https://legal-dictionary.thefreedictionary.com/business

Holloway, S. S.; Parmigiani, A. (2014). "Friends and Profits Don't Mix: The
Performance Implications of Repeated Partnerships". Academy of
Management Journal. 59 (2): 460. doi:10.5465/amj.2013.0581.