Category Archives: Export

Nigeria Export Commodities worth $463m to Argentina in 2017

Minister Plenipotentiary Head of Mission Embassy of Argentina Elena Mikusinski has stated that Nigeria’s export to Argentina in 2017 stood at $463 million.
Elena Mikusinski disclosed this in Abuja during the launch of a new edition of Malbec World Day Wines Exposition organized and coordinated by the Embassy of Argentina in Nigeria.

Empower DFIs To Boost Nigeria Non-oil Export, FG told

The Federal Government of Nigeria has been urged to increase capitalisation of the nationsí Development Finance Institutions (DFIs), as a way towards achieving the economic diversification objectives and promoting non-oil export.

This is necessary given that the real sector, particularly agriculture, solid minerals and indeed, the export sector, require concessional long-term funds for investment, which are rarely available in the commercial banking system.

The Managing Director/Chief Executive of Nigerian Export-Import Bank, Abba Bello, stated this in a paper delivered recently at the convocation lecture of the Achiever University, Ondo State.

Nigeria’s agric export earnings rise by 180% to N5bn

Nigeria’s agricultural export earnings have increased by 180 percent, reaching over N5 billion in the last one year, according to Audu Ogbeh, the minister of agriculture and rural development.

Maritime Stakeholders task Nigeria Government on Import, Export reforms

The Federal Government of Nigeria has been urged to immediately step up its reforms strategy on import and export processes to help reverse the current poor ranking by Trading Across Borders (TAB).

TAB, in its latest rankings, put Nigeria at 183rd position out of the 190 countries it rated on Ease of Doing Business (EODB).

Non-oil Exporters Await Promissory Notes as EEG backlog hits N350 billion

Prolonged approvals from the National Assembly for non-oil export incentives under the revised Export Expansion Grant (EEG) scheme, also known as the Export Credit Certificate has further increased the backlog of unpaid incentives to at least N350 billion.

Although there were expectations that some of the backlogs would be cleared next month, the delayed approval of the 2018 budget may further prolong the issuance of promissory notes to the beneficiaries.

UK Expands Export Finance in West Africa

The United Kingdom has strengthen its presence in the West African to with the announcement of Ghana becoming the first nation in the region to have a representative of the world’s oldest export credit agency, UK Export Finance (UKEF) stationed in-country.

Steve Gray, who will be taking up office at the British High Commission in Accra as the UKEF Country Manager, will work closely with the Department for International Trade team to strengthen trading relations between Ghana and the United Kingdom reaffirming the UK Government’s ambitions for more trade with the Ghanaian market.

Nigeria’s Cocoa Export Rises by 20% in one year

OVER 300,000 tonnes of cocoa was exported from Nigeria last year, Executive Director, the Partnership in the Niger Delta, (PIND), Dr. Dara Akala, has said.

Akala spoke in Akure, Ondo Stste capital, during the Cocoa Value Chain Study Validation Workshop. “2017 saw an increase in the quantity of cocoa exported from Nigeria rising from about 250,000 tonnes exported in 2016 to more than 300,000 tonnes in 2017”, he said. “The increase was triggered by the devaluation of the Naira in 2016 by the Nigerian government in a bid to wade off recession. “While the devaluation of the Naira and subsequent increase in tariffs or outright ban of certain imported goods led to a 30% loss in the value of Nigeria’s currency in comparison to the United States of America’s Dollar.”

NEPC, FIIRO Partner on Technology Transfer, Export

To boost the nation’s non-oil export profile, the Executive Director of the Nigeria Export Promotion Council (NEPC), Olusegun Awolowo has sought to partner with the Federal Institute of Industrial Research, Oshodi (FIIRO) on technology transfer for processing exported items.

Leading a delegation of the agency to FIIRO to identify research findings that are commercialisable and good enough for exports, Awolowo stressed on the need to move Nigeria from an import economy to an export economy, citing a partnership with FIIRO as a means to such end.