The
meeting which was presided over by Vice President, Professor Yemi Osinbajo, announced the nomination of three State
Governors: Jigawa, Lagos and Ebonyi and the federal ministers from Industry,
Trade & Investment, Agriculture & Rural Development, Power, Works &
Housing, Transportation and Finance, as members of the new committee.
Other
members of the Export Promotion Committee of NEC are the Nigerian Export
Promotion Council (NEPC), Nigerian Export Processing Zones Authority (NEPZA),
NEXIM Bank, and the CBN. Jigawa State Governor, Alhaji Mohammed B. Abubakar, is the Chairman, and Industry, Trade
& Investment Minister, Dr. Okechukwu
Enelamah, is Co-Chair.
Executive
Chairman of the Nigerian Export Promotion Council, Olusegun Awolowo, while speaking to State House Correspondents
after the meeting said the committee became necessary as Nigeria lost over 100
Billion United States Dollars between 2015 and 2017 to dwindling foreign
exchange income occasioned largely by the fall in oil prices in the
international market.
He
disclosed that the Vice President Yemi Osinbajo has directed the National
Committee on Export Promotion to review several ideas and suggestions tabled at
the meeting
He
disclosed that Osinbajo who chairs the Council meetings expressed delight at “the robust discussions we have had today, and the many
useful suggestions made,” adding that both the Federal and State
governments would work together to promote non-oil Nigerian exports.
“Whatever the FG is required to do, will we do and States should
also take ownership,” the
VP stated, noting that both government levels must sit together, work together
and assist each other.
The
Committee which is expected to submit an initial report by November is expected
to come up with a concise action plan on how to drive non-oil exports based on
the presentations and discussions of Council at today’s meeting.
Awolowo
said: “Nigeria lost $100b income in three years. The
country is looking at 22 sectors that we have picked. Three years ago we
rebased our economy and we discovered that oil has been the major driver of our
foreign exchange, but from that rebasing, we discovered that oil was not the major
driver of our GDP, neither was it agric. We discovered that services were
actually the major driver of our GDP at 60 percent. Even at that 60 percent, we
were not earning foreign exchange from them”
“Our foreign exchange was still coming from oil. Once oil prices
crashed, we started losing foreign exchange. We lost $30 in 2015, $40b in 2016
and $50b in 2017, we lost so much because we weren’t earning foreign exchange
from any other sector. So, we are now putting in place the zero oil plans
focusing on 22 sectors were we want government should ramp up so that we begin
to generate foreign exchange from them. These are products that are trending in
international global markets, but then you need the stated because they are the
ones that will drive the productivity”
Awolowo
noted that the only thing that can take the country out of this recession is
export based revival. “In cocoa for example, we are
doing 300,000 metric tones, it is for us to improve productivity over we need
to overtake Ghana and Cote d’ Ivoire, we have the land mass to do it. We have
started already and things are happening. This meeting has sealed up al, that
we have proposed,” he said.
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:
Hmmm!!! Folks, have you ever
imagined how the financial status of your firm will be when more than 20,000
CEOs and other key decision makers of blue-chip corporations pay for your
products and services or even give you very juicy deals. The link below will
tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
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