Wednesday, 20 June 2018

NIGERIA RAKES IN N66BN FROM EXPORTATION OF SESAME SEEDS, COCOA BEANS, CASHEW NUTS, AND OTHERS

Nigeria earned a total of N66.19 billion from major agricultural exports in the first quarter of 2018. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html This included sesamum seed, cocoa beans, cashew nuts, soya beans and frozen shrimps and prawns.

Analysis of data sourced from the National Bureau of Statistics shows that, the export value of sesamum seed, cocoa beans, cashew nuts, soya beans, frozen shrimps and prawns in the first quarter of this year almost doubled the N35.20 billion earned from export of manufactured goods, beverages and tobacco within the same period.

Hmmm!!! Folks, let us say the truth and shame the devil. Many Nigerian non-oil products exporters have been defrauded of huge amount of money in the process of exporting agricultural commodities and solid minerals 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, would you like to keep on being scammed? Why don’t you get a practical manual that explains the stages of export trade from processing and packaging of commodities to receipt of payment by the foreign buyers? It explains export operations, export management, export documentations and methods of payment in export trade? Yes, 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:

The NBS report showed that within the period, Nigeria earned N26.65 billion from sesamum seeds, whether broken or not. An analysis of the report also showed that sesamum seeds accounted for the highest value of all the major traded agricultural exports within the period.

Nigeria also earned N23.30 billion from fermented Nigerian cocoa beans and N6.03 billion from superior quality raw cocoa beans during the same period.

Cashew and soya beans also earned the country significant income of N5.03 billion from sales of cashew nuts in shells and N3.46 billion from sales of soya beans, whether broken or not. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

The present government has been promoting industrialisation through several initiatives, including the reintroduction of Export Expansion Grant meant to encourage export, with more incentives for export of manufactured goods.

The Federal Government budgeted N20 billion and N19.28 billion for the implementation of the grant in 2017 and 2018 respectively, while high interest rates seem to have crowded out credit from the private sector, thereby affecting local manufacturers.

Recently, the Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, said it could be time for the Monetary Policy Committee of the Central Bank of Nigeria to consider lowering the 14 per cent Monetary Policy Rate to allow the private sector access to low interest credit. For a while now, the MPC has retained14 per cent monetary policy rate, seen as “tight enough” to rein-in inflationary pressures. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

While the CBN is concerned with bringing down inflation rate since last year to a single digit before possibly adjusting the 14 per cent MPR, Rewane is concerned that the private sector is starved of credit and this may have contributed to low exports largely due to low industrial production.

 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