Category Archives: Export

Nigeria’s Oil Sales Suffer, US Exports Rise

More than two dozen Nigerian crude oil cargoes were left unsold on Monday amid a supply glut of light sweet crude in the market.
Reuters reported that tenders to buy oil from companies in India and Indonesia helped to absorb some excess, but there were roughly 30 unsold Nigerian cargoes and a handful from Angola.
While Qua Iboe, Nigeria’s largest export grade, was offered at dated Brent plus $1.30, buyers said traded levels were likely to be lower because of an overall excess of light sweet oil.

Nigeria gets N212.73bn from Agricultural Exports in 2016 – Report

Nigeria realised N212.73 billion from agricultural product exports at the end of the fourth quarter of 2016.
The was disclosed in excerpts of a book entitled: ‘‘Making steady, sustainable progress for Nigeria’s peace and prosperity: a mid-term scorecard on the President Muhammadu Buhari administration,’’
It was authored by the Presidential Media Team.

CBN Non-Oil Export Stimulation Facility (NESF) Guidelines

Introduction

The Non-Oil Export Stimulation Facility (NESF) was introduced by the Central Bank of Nigeria (CBN) to diversify the revenue base of the economy and to expedite the growth and development of the non-oil export sector. The Facility will help redress the declining export financing and reposition the sector to increase its contribution to economic development.

FG Discusses Agric Produce Exports with Foreign Countries, says Minister

The minister said this on Tuesday in Katsina when he visited Gov. Aminu Masari of Katsina State.

Minister of Agriculture and Rural Development, Audu Ogbeh

U.S. Firm Conducts due Diligence on Nigerian Bank

A United States-based private equity firm, Milost Global Inc, is currently conducting due diligence on one of Nigerian banks in preparation for possible acquisition, New Telegraph has learnt. In a report issued in Mongolia by Nasdaq Global Wire, Capital Bank of Mongolia Ltd and Soyombo Insurance Ltd. announced that they had executed a $255 million financing term sheet with Milost Global Inc. Although the identity of the financial institution was not disclosed, the company said their target was for a bank with over 250 branches across the country.

British Experts To Train Nigerians On Yam Exportation – Minister

The Federal Government of Nigeria says it will invite British experts to train exporters on best export packaging requirements to reduce cases of yam rejection at the international markets.

Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, said this during a meeting with yam exporters in Abuja on Thursday.

Norway Exports N45bn Fishery Products Annually to Nigeria – Ships & Ports

The Norwegian Ambassador to Nigeria, Kjemprud Jens-Petter, on Monday in Lagos, disclosed that his country exports fishery products worth $125 million (N45 billion) to Nigeria annually.

He said fishery export from Norway included stockfish, mackerel and salmon.

“Annually, Norwegian fish exports to Nigeria stand at $125m and these include stockfish, pelagic fish, mainly mackerel and salmon.

Negative Reports on Yam Export de-marketing Produce — Exporters

Some yam exporters to Europe and the U.S. have decried negative reports about the produce, saying it is de-marketing Nigerian yams in the international market.

The exporters spoke at a meeting with the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, in Abuja on Friday.

They said the reports were putting Ghana at an advantage over Nigeria on yam exportation at the international market.