Challenges of Manufacturing Sub-Sector to Compete in Foreign Markets: The Nigerian Experience



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Submitted Aug 19, 2019
Published Sep 17, 2019
10.24018/ejbmr.2019.4.5.92

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This research is an empirical work that focused on the challenges bedeviling the manufacturing sub-sector ability to produce products that can compete with other brands in foreign markets. The data for the study were generated from central bank of Nigeria (CBN) and world bank development indicator (WBDI) of various years. The ordinary least square (OLS) econometric technique was used on time series data of important variables of manufacturing output, trade openness and current account balance. To guide the study it was hypothesized that institutional framework and government policy towards trade liberation encourages investment overtures. The findings of the study showed that trade openness and financial support significantly influence the performance of manufacturing sub-sector to produce goods for foreign markets even though the contribution of the Nigeria manufacturing sector is quite negligible. In conclusion the study recommended that the right investment induced policies and programmes should be put in place in order to ginger investment interest and supply both domestic and foreign markets with products that compete with other brands in the global markets.

Keywords: Foreign Markets, Manufacturing, Products, Trade Openness.

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