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.
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