project material on: FRANCO-NIGERIAN CHAMBER OF COMMERCE AND INDUSTRY, 1985-1991

project material on: FRANCO-NIGERIAN CHAMBER OF COMMERCE AND INDUSTRY, 1985-1991

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The Franco-Nigerian Chamber of Commerce and Industry (FNCCI), established in 1985, was created to foster and enhance trade relations between France and Nigeria. During the mid-1980s, Nigeria was undergoing significant economic changes, marked by fluctuations in oil prices and subsequent economic restructuring. France, with its robust economy, saw an opportunity to establish a stronger economic foothold in West Africa through Nigeria. The FNCCI aimed to facilitate business interactions, provide networking opportunities, and support French and Nigerian companies in navigating the complex business environments of both countries. From 1985 to 1991, the FNCCI played a pivotal role in shaping economic policies, promoting bilateral trade, and addressing trade barriers.

 

1.2 Statement of the Problem

Despite the establishment of the FNCCI and its efforts to promote trade between France and Nigeria, the economic relationship between the two countries during 1985-1991 faced several challenges. These included fluctuating oil prices, political instability in Nigeria, and regulatory differences that hindered smooth business operations. This study seeks to understand the impact of the FNCCI on the trade dynamics between France and Nigeria and identify the key challenges and successes during this period.

1.3 Objectives of the Study

The main objective of this study is to determine the impact of the Franco-Nigerian Chamber of Commerce and Industry on the bilateral trade relations between France and Nigeria from 1985 to 1991. Specific objectives include:

 

i. To evaluate the impact of the FNCCI on trade volume between France and Nigeria during 1985-1991.

ii. To determine the challenges faced by the FNCCI in promoting bilateral trade.

iii. To find out the strategies implemented by the FNCCI to overcome trade barriers between the two countries.

 

1.4 Research Questions

i. What is the impact of the FNCCI on the trade volume between France and Nigeria during 1985-1991?

ii. What are the challenges faced by the FNCCI in promoting bilateral trade?

iii. How does the FNCCI implement strategies to overcome trade barriers between the two countries?

 

1.5 Research Hypotheses

 

Hypothesis I

H0: There is no significant impact of the FNCCI on the trade volume between France and Nigeria during 1985-1991.

H1: There is a significant impact of the FNCCI on the trade volume between France and Nigeria during 1985-1991.

 

Hypothesis II

H0: There are no significant challenges faced by the FNCCI in promoting bilateral trade.

H2: There are significant challenges faced by the FNCCI in promoting bilateral trade.

 

Hypothesis III

H0: There are no significant strategies implemented by the FNCCI to overcome trade barriers between France and Nigeria.

H3: There are significant strategies implemented by the FNCCI to overcome trade barriers between France and Nigeria.

 

1.6 Significance of the Study

 

This study is significant as it provides insights into the role of bilateral chambers of commerce in enhancing international trade. By focusing on the FNCCI, the study will highlight the successes and challenges faced in a specific historical context, providing valuable lessons for current and future trade relations. Moreover, it will contribute to the academic literature on international trade and economic diplomacy, and serve as a reference for policymakers, business leaders, and scholars interested in Franco-Nigerian relations.

 

1.7 Scope of the Study

 

The scope of this study is limited to the activities and impact of the Franco-Nigerian Chamber of Commerce and Industry from 1985 to 1991. It will cover the economic, political, and social factors influencing trade between France and Nigeria during this period, and analyze the strategies employed by the FNCCI to facilitate trade. The study will primarily rely on historical data, trade records, and interviews with key stakeholders involved with the FNCCI during the specified timeframe.

 

1.8 Limitations of the Study

 

The study may face limitations such as the availability of historical data, potential biases in the recollections of interviewees, and the challenge of isolating the impact of the FNCCI from other external factors influencing trade between France and Nigeria. Additionally, the political and economic context of the period under study may present challenges in obtaining comprehensive and unbiased information.

 

1.9 Definition of Terms

 

Franco-Nigerian Chamber of Commerce and Industry (FNCCI): An organization established to promote and facilitate trade relations between France and Nigeria.

Bilateral Trade: The exchange of goods and services between two countries.

Trade Volume: The total quantity of goods and services traded between countries.

Trade Barriers: Obstacles that hinder the free exchange of goods and services between countries, such as tariffs, quotas, and regulations.

Economic Diplomacy: The use of economic resources, tools, and instruments to achieve foreign policy goals.