Category Archives: Export
A fresh impetus has come the way of the Federal Government’s ongoing diversification campaign.
By expanding its agric export business, backed by top-of-the-range infrastructure, the Nigerian Aviation Handling Company Plc (NAHCO Aviance) may have set the stage for other private sector operators to provide the much-needed infrastructure to boost food export business and drive diversification.
The Nigerian Aviation Handling Company Plc has expanded its agricultural export business.
The Group Managing Director of NAHCO, Mrs Tokunbo Fagbemi, said the expansion was in support of the Federal Government’s efforts to diversify the economy and also boost food export businesses.
Exports of Nigeria’s Bonny Light crude have been under force majeure following the closure of the Nembe Creek Trunk Line, one of the major crude oil transportation channels used for export.
The NCTL, which is 100 kilometres long and has a capacity of 150,000 barrels per day at Nembe Creek, evacuates crude to the Bonny Crude Oil Terminal.
Nongo, who issued the threat during a media chat in Abuja, insisted that every inactive licenced free zone in the country should be revoked.
A report by Agusto & Co has revealed that Nigeria’s sesame seed export value to Asia and Europe has potential value of one N120 billion per annum.
The pan-African credit rating agency put the value of Nigeria’s export of the crop as at fourth quarter 2018 at N30 billion.
Exports of various types of products dominated Nigeria’s trade structure as the country’s merchandise trade hits N8.6tn in the second quarter of this year, figures released by the National Bureau of Statistics have revealed.
The NBS in its second quarter merchandise trade report which was released on Thursday said the second quarter trade of N8.6tn was 4.4 per cent higher than the first quarter figure of N8.24tn.
The ban follows President Muhammadu Buhari’s directive for the closure of Nigeria’s border with neighbouring countries to curtail the activities of smugglers.
Exploring alternative dispute resolution options for shippers and other stakeholders in the maritime industry has fetched the Nigerian Shippers’ Council (NSC) N2.3billion. It was saved from complainants who approached it for any discrepancy in their business transaction. The NSC said this amount is exclusive of money recovered in foreign currencies.
Its Deputy Director, Complaints Unit, Mr. Moses Fadipe, who spoke in Lagos at the weekend, said the unit is yearly inundated with over 500 complaints. However, he said, only tenable complaints are attended to while others are left aside but not without educating and enlightening the complainants.
The Nigeria Export Promotion Council (NEPC) has set up measures to ease trade procedures across the world.
The Executive Director/CEO of NEPC, Olusegun Awolowo, made this known at a round table meeting with the United Nations Centre for Trade Facilitation (UNCTF) which held in Abuja yesterday.
The vice president made this known at a two-day Agriculture Summit Africa organsied by Sterling Bank with the theme: “Agriculture your piece of the Trillion Dollar Economy“ in Abuja.
Osinbajo, who was represented by the Minister of State for Agriculture and Rural Development (FMARD), Mr Mustapha Baba, said there was need for everyone to get involved in agriculture, saying it would be recognised as a business.