The
Executive Director/CEO Nigerian Export Promotion council (NEPC), Mr. Segun Awolowo, who made this disclosure during a round table
Export and Exhibition on Export Competency Development Programme recently in
Abuja, said it could grow over N10 trillion or $30 billion over the longer
term, if it is supported by the
government.
Awolowo
further stated that Nigeria could earn about $13 billion yearly revenue by 2025
from Cocoa and is capable of attracting global players in the Sector through
forward integration in global value chain.
According
to him, findings from studies conducted by the Council in collaboration with
the Applied Management Research Team of the University of California, Los
Angeles last year confirmed that Nigeria can earn about $13 billion. He
explained that the export outlook last year showed some positive developments
as a lot of cashew plantations with jumbo varieties were springing up .
The
NEPC CEO explained that from a raw cashew production of 150,000 tons, 15,000
tons are processed in Nigeria which is just 10 per cent. While in 2016 – 2017 a
ton of raw cashew nut is sold at a maximum of $1,800, cashew kernels WW 320
sold between $9 and $10 per 1b, which is up to $22 per kilo. He reassured that the
Federal Government remained committed to the development of the economy.
Awolowo
stated that recently the National Economic Management team established the
National Committee on Export Promotion to ensure effective Co-ordination of the
Zero Oil Plan in all the 36 states.
He
said that Nigeria lost over $100 billion i.e N30 trillion of national export
revenue between 2015 and 2017, due to the crash in oil price. He attributed the
recent recession to a $30 billion to $40 billion annual deficit in Nigeria’s
foreign exchange earnings of Nigeria arising from low oil price. (Sun)
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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