The
trade dispute between the United States and China, according to exporters, is
already upsetting the latter, leading to a weakened currency and further
imposition of capital controls on foreign exchange payment, to avoid the
depletion of China’s dollar reserves. Continued losses suffered by non-oil
exporters from products rejection may therefore affect government’s target
revenue from the sector. Another drawback is underpayment due to poor quality
goods caused by traffic congestion on access roads to the ports.
Fellow
Nigerians, are you aware that our crude oil will soon become useless? Yes, it
will, in no distant time, become valueless owing to the fact that the countries
that rely on it as their only source of energy are developing more affordable
alternative sources of energy. When this finally happens, what will we do? How
are we currently preparing for this imminent economic doom? Which other sector
will continue to stabilize our economy? Nigerians, the only solution is
developing the agricultural sector. In fact, this is the only solution. Very
soon, the major source of revenue will become agriculture and agro-exports. How
are you positioning yourself to play big in agro-export business? 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? Yes,
arm yourself with the contemporary trends in export trade. This manual 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
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Precisely,
non-oil exporters involved in agricultural produce and other consumables are
suspending activities till the Federal Government fixes the roads. They
expressed pessimism about the potential earnings of the country in the second
quarter of this year, as against the N577 billion earned in Q1, noting that
they expect a 25 per cent slide in the revenue profile.
Non-oil
exporters who spoke with newsmen lamented the state of infrastructure devoted
to export. According to them, the adverse travel time, waiting time and
transaction time have led to the waste of agricultural commodities and economic
loss.
A
directive by Vice President, Professor
Yemi Osinbajo, in July 2018, aimed at easing traffic congestion in the
Apapa area of Lagos State, has failed to provide a solution. The Lead
Consultant, 3T Impex Consulting Limited
and LCCI Export Group Chairman, Bamidele
Ayemibo, regretted that non-oil export challenges became intensified since
the beginning of the year. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Ayemibo
said: “Countries considered great are mainly non-oil
export-oriented. It is interesting to note that while other countries are
taking this seriously, Nigeria is not. Every policy is geared to support import
but that which is supposed to support export is either on paper and never
implemented or partially implemented. It is a sad one.
“We have facilitated a lot of export for clients but we keep
postponing and extending the dates of shipment. In the middle of all these,
Nigeria is caught in the web of the trade war between the United States and
China. Non-oil exporters are suffering on two fronts — China’s declining demand
for imports and delay in payments as well as the inability of exporters to ship
the goods.”
According
to him, some people have had to suspend shipments because goods take longer
time on the roads. He noted that though exports volume in Q1 of this year was
high, there are expectations the volume would drop significantly in Q2 and Q3.
He said, typically, exports volumes rise in Q1 and Q4 and that because the
operators deal in agro-based products, Q3 and Q4 are peak periods.
“Nigerian exporters are very resilient and should be encouraged, as
the volume could be higher if there were no challenges in the sector. The
situation is getting worse currently and the sector may witness 25 per cent
drop in transactions volume,”
he added.
The
Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, noted that the effect of
the Apapa traffic gridlock is one of the many setbacks and shocks the private
sector suffers.
“It symbolises a major failure of the state. It is a sad commentary
that a major segment of the Nigerian economy could be so completely paralysed.
Government’s response to the Apapa situation should have been that of an
emergency mode, given the strategic importance of both the Apapa and Tin Can
ports to the Nigerian economy. It is unfortunate that we have to contend with
this situation for this long. The toll on the Nigerian economy and the private
sector is incalculable,” Yusuf
said.
The
Chief Executive Officer of Glory Land Shippers, Emeka Amadi, complained to newsmen recently that the Apapa road has
defied solution. “Even the order given some weeks ago
by the vice president is temporary, as the containers have lined up in the
area, blocking every available space. That is why the price of transportation
of cargo is on the increase. You do not expect somebody’s truck to be on the
road for days without the person charging money to cover for those days,” he
said. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Also,
the president, Association of Maritime Truck Owners (AMATO), Remi Odugbemi, exonerated truck owners
over the high cost of haulage and blamed government’s poor handling of the
roads. “Ask those that are complaining if they can
bring relief to the sufferings of truck owners and drivers. Many of us sleep on
the roads for more than one week or two weeks. It is not easy, I must confess,”
he said. (Guardian)
Are you an exporter? Do you like
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