February Entrepreneurial forces are relatively strong in this country, as the lack of jobs and a rise in poverty leave few other options for the Nigerian people.
A cardinal objective of the SAP was the restructuring of the production base of the economy with a positive bias for the production of agricultural exports. The depreciation also increased the prices of agricultural exports and studies have shown a marked increase in volume of agricultural exports over the gears.
However, the volatility, Frequency and instability of the exchange rate movements since the beginning of the floating exchange rate raise a concern about the impact of such movements on agricultural treacle flows.
Structural adjustment and agricultural performance among other measures, the structural adjustment programme SAP which starlit inabolished the commodity board, the body that since had been responsible for organization and purchase of agricultural exports.
As a result farmess could sell their products directly to foreign buyers and local processtas without any intermediary, this was expected to remove the excessive taxation on formers products by the erstwhile marketing boards and leare producer prices to be determined by market forces.
Giver that agricultural output is influenced by process among other factors, the depreciation of the naira and abolition of the commodity boards were expected to result in overall increase in production of exports.
There was a major increase in fire major agricultural export crops that had been on the decline since the s. According to kwanaslice et al,the degree of fluctuation in prices is a major determinant of the changes in earnings given the trend in output over the years.
In this regard however, exchanged rate could be defined as the rate which one currency can be exchanged for another are can be regarded as the price of one currency in term of another.
Furthermore, the exchange rate represents a key relative price in the economy in addition its political undertone such that policies to changer it one often the centre- piece of adjustment programs designed is improve international competitiveness and selft resources towards the production of tradable goods.
As a price of a currency in terms of another, exchange rate plays a very important role in national and international economy. An Imf study cities arguments that exchange rate variability would also tend to indue macro-economic phenomena that are undesirable, for example inflation and protectionism.
Despite, more recent research explains why a positive effect could also be possible de Grauve,Caballero and Corbo, If firms hedge against exchange rate rise, one could not expect to find a strong negative effect on trade.
Hedging against risk can be done via future or forward market. Where forward markets exist, the nature of the uncertainty faced by traders is transformed.
A forward market represents, in effect, a guaranted forecast of the end of the contract period. Which a trader can take advantage of payment of a small margin around the forward rates. Since currency uncertainty can be removed from the short-term trading transaction by payment of this margin, the cost of such uncertainty cannot be higher than the cost of purchasing insurance against it.
Moreover, successive government in Nigeria have devised and implemented a wide away of exchange rate policy that failed party or wholly to achieve their set objectives. It is dear that Nigeria is in dine need of rapid and sustainable rate of economic growth and development, if we are to reduce the level of human miseries parading the country.
Has come a long way in evolving an enduring exchange rate management policy, and we have, no doubt, made appreciated progress in this regard indeed, the need to ensure that a realistic exchange rate of the naira is achieved has been major objective of the central bank of Nigeria.the role of women entrepreneur in business development in nigeria (a case study of selected business in owerri municipal).
The real exchange rate and Nigeria agricultural exports-one of the most dramatic events in Nigeria over the past decade was devaluation of the Nigeria naira with adoption of a . The Role of Entrepreneurship in Economic Development: The Nigerian Perspective The aim of the paper is to develop and analyse the contributions of entrepreneurship in the economic development through SME development in Nigeria.
But in the s, the Austrian School of Economics was the first to recognize the entrepreneur as the person having the central role in all economic activity. Why is that? THE ROLE OF ENTREPRENEUR IN THE DEVELOPMENT OF NIGERIA.
CHAPTER ONE INTRODUCTION. BACKGROUND OF THE STUDY; Entrepreneurship begins with action, the creation of a new organization including the antecedents to its creation, scanning the environment for opportunities, identification of the opportunities to be pursued, the evaluation of the feasibility and .
(SMEs) in Nigeria have not performed creditably well and hence have not played the expected vital and vibrant role in the economic growth and development of Nigeria. OBJECTIVES OF STUDY.
The Role of Entrepreneurship in Economic Development: The Nigerian Perspective The aim of the paper is to develop and analyse the contributions of entrepreneurship in the economic development through SME development in Nigeria.