Growth in Nigeria non-oil export hits US$2.970bn — NEPC

The Nigerian Export Promotion Council, NEPC, has disclosed that, Nigeria realised $2.970 billion from non-oil export, in 2013 a 15.9 per cent increase over $2.561 in 2012.

Disclosing this at the business meeting tagged” A New Dawn For Nigerian Export” organised by the Nigerian-British Chamber of Commerce, NBCC, the Executive Director/CEO, NEPC, Mr. Olusegun Awolowo, said Nigeria’s export is dominated by oil, but that, there has been steady growth in Non-oil export to $2.970 billion in 2013, a 15.9 per cent increase over $2.561 in 2012.

He said that non-oil export potentials have not been fully exploited despite endowed natural resources solid minerals, agriculture, adding that, some of the challenges are poor infrastructure, energy, finance, skills and capacity.

According to him, the non-oil export challenges in Nigeria are

infrastructural deficiency, poor standardisation of products, high cost of production, falsification of documents, weak linkages to chain supply, unwholesome trade practices, and exports dominated by primary products, inability to meet export orders, restricted access to credit and trademark.

He said that for Nigerians to position effectively in the global market, Nigerian goods for export must meet competitiveness standards – identify international benchmarks, invest in skill, technology & innovation, provide conducive and stable Export Policy Environment, intensify PPP collaborations, consult widely with stakeholders,address issues of market failure, partner with Bi-lateral chambers of commerce on export opportunities and promotion, as well as engaging Nigerians in Diaspora, take optimal advantage of trade preference programmes –  AGOA and others, export of value added products as against commodities, simplify export procedures and documentations and imbibe E-Commerce culture to reduce cost and time.

Awolowo noted that there is no better time than now to critically address issues that will enhance the development and promotion of Nigeria non-oil exports and that the world is our oyster as opportunities abound to stamp ‘Made in Nigeria Products’ on the global stage.

He said we need to harness our comparative advantage population, natural resources, geo-diversity, adding that, The Bilateral Chambers of Commerce including NBCC has a critical role to play in harnessing the existing potentials for export by achieving world class standards for products and creating jobs and economic growth through value chains.

Vanguard