NATIONAL ASSEMBLY CHARGES EXPORT COUNCIL ON 35% MINIMUM NON-OIL EXPORTS

Olusegun Awolowo

The House of Representatives has asked the management of the Nigerian Export Promotion Council (NEPC) to redouble its efforts toward improving non-oil revenue.

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 this link: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

This charge was given by the Chairman of the House Committee on Commerce, Hon. Femi Fakeye, in Abuja on during an interactive session with the Chief Executive Officer of the NEPC, Olusegun Awolowo, and other members of management team during an oversight function to the council.

Hon. Fakeye made it clear that the need for the council to attain minimum of 35 per cent of non-oil export ratio in no longer distance. According to him, “The most important thing for us to realise is that this country needs this effort that your organisation is saddled with; that is to push for non-oil export. Apart from the existing fact that we all know; the country is still dependent much on crude oil sales.

“As we speak right now, even the benchmark of $55 per barrel that we have in the budget is dangling. The price changes every day and as we speak, I think it is even below that threshold. We should be doing about 35 per cent minimum non-oil export. I don’t think we are anywhere close to that.”

Are you aware that many Nigerian exporters have been defrauded in the process of exporting their products? To export successfully and get paid, click: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html

In his remarks, the NEPC boss sought the intervention of the National Assembly on the full implementation of the 10 per cent freight collections by the Nigerian Maritime Administration and Safety Agency, being the only statutory source of fund for the council. He said that since December 1992, it had never been implemented despite the positive directives by the president, Attorney-General of the Federation and the National Assembly.

Awolowo stated the council’s resolve towards resolving issues bothering on the outstanding payment of Export Expansion Grant and disclosed that over N50bn worth of EEG was disbursed annually to exporters, adding that there was a need to enforce payment of three per cent of the value of every EEG payable to a beneficiary as a source of revenue to the NEPC to offset the cost of administering the grant.

Have you heard that Landwey is giving out plots of land at URBAN PRIME TWO ESTATE at Abraham Adesanya Roundabout, Ajah, Lagos? You can get yours by calling: 08067876251. For details, click: http://www.tectono-business.com/2020/02/urban-prime-two-estate.html

The NEPC CEO stated that efforts are underway to increase Nigeria’s cocoa export, which currently stands at 300,000 metric tonnes of $2bn out of the $80bn revenue being generated by European countries where cocoa is being exported to. He noted that it would raise revenue of 22 non-oil products that could generate up to $30bn yearly.

Awolowo added that Nigeria could also take advantage of the $150bn petrochemical global markets by selling its abundance petrochemical products as well as $31bn palm oil market, where countries like Malaysia and Indonesia leverage on. He also announced that the NEPC planned to increase Nigeria’s revenue by extra $150bn through the exportation of palm oil. (Punch)