Friday, 17 November 2017

NIGERIA-AMERICA CHAMBER OF COMMERCE IDENTIFIES WHY NIGERIAN EXPORTERS’ ACCESS TO U.S. MARKETS IS LIMITED

Inconsistencies hinged on inadequate power supply, multiple taxes, business expansion have been identified as some of the challenges hindering Nigerians in the commodity export business from meeting up with demands of the United States export market. In addition to that, exporters who tend to make quick returns by cutting corners and keeping to the rules in the analysis of export business have also affected the smooth sail of export business in Nigeria.

These challenges, the National President, Nigeria-America Chamber of Commerce, Chief Olabintan Famutimi, noted have created a break along the export value chain. Also, the chamber has concluded plans to build the capacity of small businesses as part of measures to reduce the mortality rate of such businesses. Chief Famutimi stated this when the chamber paid a courtesy visit to the corporate head office of a newspaper in Nigeria to form a partnership and exchange ideas on mutual relationships with the organization. According to him, some of the problems have been identified and through the advice given to government, issues would be addressed.

In Chief Famutimi’s own words: “In some of our trainings, we bring subject matter experts from the U.S., the West African trade hub and even government agencies. In some of the summits we have had, we involved agencies such as Customs, NAFDAC, SON and all other departments involved in the export business to address problems to ease export of commodities to the US.”

He assured that initial difficulties experienced by those in the US who wants to come and do business in Nigeria have been resolved while he further stated that it is also working in the US for Nigerians applying to go to the US to for business as delays have been reduced.

“One of the elements tackled was visa on arrival and is working smoothly. If you are coming on business in Nigeria and you get to the airport, they can stamp your visa at the airport and you enter, it is working very well. Once you have a letter of invitation that you are coming to do business in Nigeria, your passport would be stamped. They have talked to all Nigerian embassies abroad that anybody applying for a business should not be delayed and it is also working over there,” he said.

Worried that Nigeria could not take advantage of the African Growth and Opportunity Act (AGOA) that was meant to expand the country’s export window while it lasted, the editor a newspaper in Nigeria tasked the chamber to critically look into cultivating the capacity to export primary goods rather than only promoting ideas on export businesses. 

NB: Have you heard this? Many Nigerian exporters have been defrauded of huge amount of money in the process of exporting commodities to foreign countries. Do you know why? They were not trained on export operations, management, documentations and the best methods of payment in export trade. This is terrible!!! Nigerians cannot continue to lose money to foreigners in the course of export business. Exporters, why don’t you get a practical manual that teaches the stages of export trade from processing and packaging of commodities to receipt of payment by the foreign buyers. It teaches export operations, export management, export documentations and methods of payment in export trade? It is a contemporary step-by-step guide to export trade. It tells all the contemporary dynamics in export trade. To get it, click on the link below:
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html