Category Archives: Export
Nigeria Extractive Industries Transparency
Initiative (NEITI) has disclosed that Chinese and Indian
companies have been involved in illegal mining of
Nigeria’s solid mineral deposits across the country.
Chairman of the National Stakeholders Working Group
(NSWG) of NEITI, Mr. Ledum Mitee, confirmed at the
presentation of the inaugural audit report on Nigeria’s
solid mineral sector, which was commissioned and
released weekend in Abuja that several illegal artisanal
operations in Nigeria’s solid mineral sector were being
sponsored by Chinese and Indian companies but with
support from local authorities.
Lagos – The National Drug Law Enforcement Agency (NDLEA) on Friday apprehended a man, 40, for attempting to transport Indian hemp (Cannabis Sativa) to China.
This is contained in a statement by Mitchel Ofoyeju, Head of Public Affairs of the agency.
According to the statement, the man, a medicine dealer, was apprehended at the Murtala Mohammed International Airport (MMIA), with cannabis he ingested.
The statement quoted the NDLEA Airport Commander, Hamza Umar, as saying that the man was a serial offender and had been caught several times.
Export Business – Despite opportunities for Nigeria to export to European market, the many layers of agencies checking export produce are hindering the full realisation of the country’s potential.
This was disclosed in Lagos by Abayomi Adetola, ACS Commercial Manager, Sub-Saharan Africa, DHL Aviation.
Fruit, vegetable and flower export yields triple gains at the export market, compared to when sold locally, he noted.
Export – The Nigerian Export Promotion Council (NEPC) has launched e-registration Website and e-registration booklet to reduce the volume of consignment leaving the country through informal exports.
The Executive Director, NEPC, David Adulugba, who said this at the launch in Abuja expressed regret that the quantum of goods leaving the country annually without documentation was worrisome.
Export – The Federal Government of Nigeria plans to export fresh vegetables worth $10 million in 2013, Mr. Mike Kanu, Deputy Director, Horticulture in the Federal Ministry of Agriculture, has said. Kanu said this in Umuahia at the commencement of the distribution of two tonnes of telferia seeds to selected farmers in Abia State.
He said that the Federal Government was poised to transform the horticulture value chain as well as promote the sale of perishable goods from Nigeria in the international market.
Business News (Export) – Total loans advanced to exporters by the Nigerian Export Import Bank (NEXIM) as at December 2012 has reached a threshold of over N70 billion.
The Managing Director of NEXIM Bank, Mr. Roberts Orya, made this disclosure yesterday at the Finance Correspondents Association’s (FICAN), 2012 Annual General Meeting (AGM) held at the Transcorp Hilton in Abuja,Nigeria.
Orya who was represented by the Assistant General Manager/Head, Project, Very Reverend Ifeanyi Nwade also said that under the direct lending facility, NEXIM grants short, medium and long term fixed rate loans to exporters in Nigeria directly under co-financing arrangement with eligible banks.
He noted that direct loans are available to assist exporters complete their exports sales by providing working capital, facilities and funds for procurement of equipment.
Business News (Export) – The profile of Nigeria’s cocoa Export Business sustained its rising trend last year, as the nation earned $900 million (N142 billion), against $882.9 million realised in the previous year, from the commodity’s trade in the global market.
However, the rising cases of rice smuggling into the country may have compromised the nation’s quest for self sufficiency in the commodity’s production, as N32 billion revenue was lost to the activities of smugglers last year.
Business News (UK) – UK Scandal-hit Barclays bank said Tuesday that it will set aside another £1.0 billion to cover compensation for the mis-selling of both credit insurance and interest rate hedging products.
Barclays, which was rocked last year by the separate Libor rate-rigging scandal, said in a brief statement that it hiked its provision for the mis-selling of payment protection insurance by another £600 million, taking its total bill to £2.6 billion.
The lender added that it would also increase its provision for the mis-selling of interest rate hedging products to small businesses by £400 million to a total of £850 million.
Dr. Adesina made the observation at the second Stakeholders and Action Plan Formulation Forum organised by the National Cashew Association of Nigeria (NCAN) on Wednesday in Lagos. He said the situation also denied the country of employment opportunities.
The minister was represented by Mr Olusi Adegbola, a Federal Director in the ministry. Adesina said that increasing cashew production of 120,000 tonnes by 20 per cent would create more than 344,000 jobs.
Business News (Agriculture) –Russian poultry businesses can begin to export their products to the EU as early as in a few months time.