Jul 3, 2018 - was N73.25 billion, compared to N44.71 billion in the previous quarter of Q4 2017, showing a strong quarte
INSIDE THIS ISSUE
VOLUME 3 ISSUE 35
Export News: Nigeria Loses $30m Exports to Poor Quality Control, Packaging. -1
Export Programme: Import Proceses LC & BC and More -2
Export Education: US-China Trade War Reinforces the Necessity of AfCFTA -3
Nigeria Loses $30m Export to Poor Quality Control, Packaging
Nigeria loses over $30 million in export produce annually, due to poor quality control and poor packaging. In addition, the country has lost the position of a major hub for cargo freighting in Africa. This was disclosed by the President of the Association of Foreign Airlines Representatives in Nigeria (AFARN), Kingsley Nwokoma who said many farm produce exported from Nigeria were returned due to poor quality control and packaging. He, noted however, that the same farm produce when taken from Nigeria to Ghana are packaged and exported as Ghanaian imports, noting that every day truck loads of yams leave Nigeria by road to Ghana where they are exported to Europe and other destinations. Nwokoma said the Ease of Doing Business policy introduced by the federal government was yet to to be fully implemented. Owing to this, he said same hindrances that impaired export of goods were still widespread. These he listed to include high charges, inhibitions caused by the Nigerian Customs and poor infrastructure. He said although exporting and importing goods by sea take a longer time but poor economy has forced businessmen and women to take the option of sea import instead of air freighting and plan their programme to correspond with the three months interlude it takes for the arrival of the cargo. Nwokoma, lamented that Nigeria does not have perishable centre and facility where farm produce are preserved and packaged for export, noting that because Accra has the facility, it has edge over Nigeria so entrepreneurs prefer exporting cargo from Ghana, including products sourced from Nigeria. “Our export business is down by estimated $30 million annually in the last few years. This is caused by bad economy, poor quality control and poor packaging. Excerpt: Thisdaylive
for June 2018
Export Training Products: Export Pro and More -3
Export Miscellaneous: Commodity Prices, Infographs and Lots More -3&4
Top News Nigeria Loses $30m Exports to Poor Quality Control, Packaging NEPC committed to economic diversification, says Awolowo NEPC strengthens capacity of 100 exporters Yam export C'tee develops 4-year action plan, targets $10bn annually Sesame Seeds Top Nigeria's Agric Exports Customs Intercepts Export-bound N48m Unprocessed Wood Diploma Admission for Batch 2 is still on
NEPC Committed to Economic Diversification, Says Awolowo
NEPC Strengthens Capacity of 100 Exporters
The Executive Director/Chief Executive Officer, Nigerian Export Promotion Council, Mr Segun Awolowo, has reiterated the determination of the council to diversify the country's economy. He stated that the agency was making efforts to ensure that non-oil export becomes a significant contributor to the nation's Gross Domestic Produ Awolwo, who was represented by the Trade Promotion Adviser, NEPC, Ilorin Smart Office, Mr Andrew Okhiulu, spoke during the NEPC's export awareness seminar for exporters and potential exporters in Ilorin, the Kwara State capital. He said the agency was committed to promoting the development and diversification of Nigeria's export trade, the development of export related industries and spearheading the creation of appropriate export incentives. “The NEPC is poised to drive the export sector forward by initiating programmes to move the nation's economy forward. This is with a view to not just expanding our export terrain, but also showcasing our culture and endowment to the international community,” Awolowo added. The Kwara State Commissioner for Commerce and Cooperatives, Mr Julius Babatunde, said the state was investor-friendly and the hub of modern commercial farming. He stated that Kwara State was endowed with several exportable products such as minerals and agricultural produce of commercial and international status. Excerpt: Punch
The Nigerian Export Promotion Council (NEPC) has organised an export awareness seminar for 100 exporters and potential exporters in Ilorin, the Kwara State capital. Speaking at the event, Andrew Okhiulu, trade promotion adviser, NEPC, Kwara State, said the programme was aimed at sensitising and training exporters and potential exporters on the nitty-gritty of the procedures, terms and rules of export business, in a bid to enhance exporting activities across various states in the federation. “We are looking at encouraging people to participate in the export business, thereby generating more income for the country and improving our balance of payment. This is because these products being exported are showcasing the quality that we have,” Okhiulu said. “We also discovered that we are improving the qualities of our products because they are competing with other products outside the country,” he stated. He noted that doing export increases foreign exchange and income, while also improving the economy. “ We a r e c r e a t i n g m o r e e m p l o y m e n t f o r entrepreneurs, small and medium scale enterprises and other businesses in that category,” Okhiulu stressed. Excerpt: Business Day
VOLUME 3 ISSUE 35
Page 2.
(1.1 billion). The rest are exported products valued at less than N1 Yam Export C’tee Develops billion. 4-year Action Plan, Targets Customs Intercepts Export$10bn Annually Bound N48m Unprocessed Prof. Simon Irtwange, the National Coordinator, Wood Technical Committee on Nigerian Yam Export
Programme, said the committee has developed a four- The comptroller-general of the Nigeria Customs year action plan targeting $10 billion earnings from Service Strike Force has intercepted unprocessed woods worth over N48 million in Apapa, Lagos. This yam export. is coming barely a week after the strike force Irtwange made the disclosure in Lagos on Thursday in intercepted about 3,420 bags of foreign parboiled rice an interview. According to him, the 2017 – 2020 plan smuggled into the country from Benin Republic. will bring improvement and development in all Speaking with journalists, zonal commander, Zone A aspects of yam value cha 'Indeed, the government of the strike force, AC Salisu Asaba Bullah said the policy on yam export has come to stay; the only action unprocessed woods were on its way to be exported now is how to improve on the process. ''The out of the country when it was impounded. Asaba committee has developed Action/Work Plan (2017 – Bullah who disclosed that the unprocessed woods fell 2020) going forward. under export prohibition list said the consignment The coordinator said the committee had also have been seized and are presently under detention. developed a blueprint for the development of Yam “At about 1130 hrs of Tuesday, 3rd July 2018. A team Value Chain Production, Processing, Marketing and of Headquarter Strike Force led by ASCl Olaniyan, J. Exportation. He said the committee had also selected O and others intercepted 4 x 20 Containers with some white yam varieties for export promotion. numbers: TRHU 361154-8, MRSU 017398-0, TRHU Irtwange said among the white yams selected were 336524-9 AND BSlU 299069-8 conveyed on Iveco Ogoja, Hembamkwase, Awula, Pepe, Faketsa, Puna trucks with reg. Nos LSD 507XS; JJJ 558XV; AGL and Water Yam (Cush-Cush) out of the more than 60 530 XA and one unmarked Iveco truck respectively varieties. He said the committee is reviewing the NIS along Apapa Axis, suspected to be carrying illegal 657:2009 Standard for fresh yam tubers and NIS goods. “The trucks were brought to Federal 000:2007 MT Specifications for yam pounding Operation Unit, Ikeja government warehouse where machine. He added that the committee is also working physical examination were conducted on the said to overcome the challenges encountered with the first containers and it revealed unprocessed wood. A seizure entry was made since unprocessed wood fall shipment in June 2017. (NAN) ACA/MOL/MZA under export prohibition list,” he said. Excerpt: Vanguard Excerpt: The Leadership
Sesame Seeds tops Nigeria’s Agric Exports
Diploma Admission for Batch 2 is still on
Data from the National Bureau of Statistics (NBS) indicate that Sesame seed is the leading agricultural export product (and fourth leading export product) in Nigeria for the first quarter of 2018. Total Agricultural Exports According to Foreign Trade Report by NBS, the total value of exported agricultural products in Q1 2018 was N73.25 billion, compared to N44.71 billion in the previous quarter of Q4 2017, showing a strong quarter on quarter growth of 63.83%. Also, total agricultural exports in Nigeria grew by 23.94% on a year on year basis, from N59.1 billion in Q1 2017.
The Admission for the second batch of Executive Diploma in Export Business Management and Executive Diploma in Export Trade Finance is still in progress. This was announced last week by the management of 3T Impex Trade Academy. This Diploma programme is first of its kind on the African soil and it is in conjunction with the American Institutes of Extended studies. The first batch of the programme started in February
Meanwhile, agricultural goods contributed 3.57% to 2018 with 13 candidates who are from different sectors of Nigeria's total trade in the period under review, with a the economy including Banking, Manufacturing and value of N257.7 billion. Agricultural and Solid Mineral Sectors. The first batch In total, agricultural products contributed 1.6% to Nigeria's total exports in Q1 2018, growing from a share of 1.1% in the fourth quarter of 2017. In contrast, it decreased when compared to the corresponding quarter in 2017, when agricultural exports contributed 2% to the total exports. Top Agricultural Export Products According to the data from NBS, sesamum seed (whether or not broken) is Nigeria's leading agricultural export product for the first quarter of 2018, with an export value of N26.5 billion. This was followed by good fermented Nigerian cocoa beans with a value of N23.3 billion. Superior quality raw cocoa bean was next with N6.03 billion. Cashew nuts in shell, which topped till the second quarter of 2017, recorded an export value of N5.03 billion. Soya bean (whether or not broken) had an export value of N3.5 billion. prawns (N1.7 billion), flour and meals of soya means
for June 2018
will conclude their programme by the end of July this year while the second batch will be starting their programme from the first week of June 2018. The classes hold on Saturdays at the 3T Impex Trade Centre in Surulere from 8am. The programme is divided into three modules with each module lasting for a period of two months with an end course test. Knowing fully well that export is the future of Nigeria, the management of 3T Impex has designed this programme to create on one hand, a pool of export trade professionals to manage the budding and established export businesses in Nigeria and on the other hand to develop highly skilled trade professionals that will be structuring export trade finance in different financial institution in Nigeria. Excerpt Tradeinfo.ng
OTHER HEADLINES Ambode Seeks Improved Infrastructure to Boost Export - Punch NPA Suspends Maerskline, three others over Truck Drivers’ Strike - Punch
VOLUME 3 ISSUE 35
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Why Nigeria Must Grow Exportation to West African Market New issue
The West Africa sub-region is a huge market with huge potential for growth if it is well harnessed by the member states. The countries within the region came together in 1975 to form the union called The Economic Community of West African States (ECOWAS), a trading bloc with a single market which comprises of 15 countries which include Nigeria, Benin, Togo, Ghana, Liberia, Gambia, Niger, Burkina Faso, Cape Verde, Cote Devoir, Guinea, Guinea Bissau, Mali, Senegal, Sierra Leone. The ECOWAS market remains an untapped potential that could lead to significant growth in non-oil export from Nigeria. With a population of about 350 million peopleand GDP of about
The potential of export from Nigeria into the ECOWAS region can be seen in the items of import into the region from Asia, America and
Export Training Products
Export Miscellaneous: S/N
EXPORT ORDERS PRODUCT
SPECIFICATION
Zinc Ore Lead Ore Lead Oxide
1. 2. 3.
S/N 1.
Title: Export Pro
Europe. The top ten products being imported into the region from different parts of the world include Fuels which represent 24% of total imports. They are followed by motor vehicles, tractors, cycles and other vehicles (2nd place), machinery , mechanical appliances and boilers (3rd), machinery and electrical appliances (4th), cereals (5th), plastics (6th), works in iron, iron and steel (7th), iron, cast iron, steel (8th), pharmaceuticals (9th) and fish and seafood (10th).
$1.48trillion, this market remains the low hanging fruits to be fully explored in the quest for the growth of the non-oil export volume from Nigeria. The data obtained from the National Bureau of Statistics showed that the volume of export from Nigeria to West African countries has been on the decrease. In 2013 Nigeria goods worth N756.9 billion were exported to different countries in the region. This increased slightly to N824.7 billion in 2014 and it has consistently being on the decline since then with an export volume of N599.8 billion in 2015 and N576.6 billion in 2016.
2. 3.
MINIMUM SHIPMENT
Purity 35% Purity 60% Purity 30%
60MT Per Month 60MT Per Month 60MT Per Month
LOCAL ORDERS PRODUCT
SPECIFICATION
PAYMENT
MONTHLY VOLUME
Zinc Ore Lead Ore Lead Oxide
Purity 35% Purity 60% Purity 30%
Bank Guarantee Bank Guarantee Bank Guarantee
120MT Per Month 121MT Per Month 122MT Per Month
Speaker: Bamidele Ayemibo Price: N 50,000 S/N
COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG) COMMODITY
Lead Zinc Cocoa Beans Copper
1. 2. 3. 4.
Tin Alluminium Cotton
5. 6. 7.
PRICES USD 2,162.00 USD 2,607.00 USD 2,513.00 USD 6,166.00 USD 19,775.00 USD 2,102.00 USD 87.84
UNIT OF MEASUREMENT
Metric Tonne Metric Tonne Metric Tonne Metric Tonne Metric Tonne Bushel Pounds
Title: Export Business Made Easy Speaker: Bamidele Ayemibo Price: N 5,000
EXPORT BUSINESS CLINIC
TRAINING FEE
N78,500
BENEFITS Free Export Licence Free subscription to join African Export Development Initiative (AFED) Guaranteed Contracts for Export (T&C Apply) Export Mentoring Program with 20% discount Free Export Book & Advisory Service.
Days & Time Weekdays - 9am Date - April 17th & 18th, 2018 Weekend - 9am Date - March 8th & 15th, 2018 Venue: 3T Impex Trade Center Address: 11D Bola Shadipe Street Off Adelabu Street, Surulere, Lagos, Nigeria.
CONTACT:
[email protected] 08067476669, 08026782568, 08091244449
VOLUME 3 ISSUE 35
Page 4.
Infographics
EXPORT NIGERIA CAMPAIGN
Targets: FREE export seminar for religious organizations, clubs, cooperative associations, etc Objective: educate, enlighten, empower the public and create employment
...raising legion of exporters 08091244449
[email protected]
www.3timpex.com
www.tradeinfong.com
