Happy Tuesday and Welcome to Export Brief. A weekly newsletter with insightful developments and trends on non-oil export trade from Africa's largest economy and from the global stage. If you enjoy EB, share it with friends.

• ⏲️: This edition is 1037 words, a 4-minute read.

IN BRIEF

🚢 Situational awareness: Nigeria approves $2.59bn Badagry deep seaport in Lagos, to be fully financed by private investors.

• This is the second deep seaport project in the country with a total development area of 692.6hc and a channel of 18m draft with a single access channel length of 8.9km from the fairway buoys.

• Nigeria’s should leverage opportunities in non-oil export

• Agency seeks stakeholders’ support in promoting non-oil exports

NON-OIL EXPORT 

1 big brief: Nigeria should leverage opportunities in non-oil export

Stakeholders in the international trade have identified the need for Nigeria to harness the opportunities in the non-oil export. The huge numbers of exportable products with global demand and market should be explored as foreign exchange earner for the country.

In more details: This was the main focus during the official induction of Chief Henry Njoku as Chairman Board of Directors, investiture of Fellows, and flag-off of Product Development Centre organized by the Institute.

Why it matters: Nigerian importers must also be involved in export market and put a plan of backward integration in place. If importers do not boost export by way of participation, they will soon witness a substantial decline in foreign exchange earnings.

📊By the numbers: According to experts, plantain sells for $2,400 per ton in the international market, and Nigeria is the second highest producer. Yet, our business people are not exporting, despite consuming a mere 18 per cent of what they produce. The rest is rotten or wasted.

💬What they're saying: “The truth is that Nigeria’s strength is rather in export. The problem is ability to create awareness and to identify the products, the processing, and the countries that need the items, plus a robust bureaucratic system to promote it and make export processes easy and seamless.” - Mr. Eniola Yemi Temidayo, former Coordinator of the University of Port Harcourt Business School, Nigeria.

• “Our lab is able to handle all this. Barcode helps in traceability, which is important in international trade. The international standard is that every product should be made to comply with traceability rules so that if any product is faulty, it can be traced to the very factory of origin. If you don’t trace the faulty one, all such products from that country or that factory could be banned.” - Mr. Ofon Udofia, Executive Secretary, IEOM.

TRADE ROUNDUP

TRADE | Nigeria’s strength should now be in non-oil export – Expert

• The expert said Nigeria is abundant in raw materials and export potentials, saying the nation has no business importing anything..

EXPORT | Manufacturer's group seeks customs support in easing import, export difficulties at Ports

• "We need the efficient support, understanding in the cooperation of the Customs service always as this meeting is a great deal to help boost the manufacturing industry."

UPCOMING TRAINING

EXPORT PROMOTION

Briefing note🗒️: NEPC seeks stakeholders’ support in promoting non-oil exports  

The Nigerian Export Promotion Council (NEPC) has reaffirmed its commitment to collaborate with key stakeholders in developing and promoting the non-oil export sector. 

Executive Secretary of NEPC, Dr Ezra Yakusak, said this at the interactive dinner for diplomats and development partners in Nigeria.

Why it matters: Trade promotion would not be possible without the collaborations and supports of trading partners in the implemention of programmes and policies. 

💬What they’re saying: “It is, therefore, my expectation that after this interaction, there will be a seamless exchange of information between the council and the various goods and services that Nigeria could trade with your countries,” Yakusak said

In between the lines: The agency is determined to facilitate small and medium enterprises’ acquisition of international certification to access non-oil market with premium pricing. NEPC has initiated the Nigerian competitiveness project tagged ‘Go certification’ to help cross the huddles of standards and certification of exportable products.

The bottom line:  According to a statement, the establishment of export trade houses under a public private partnership arrangement to further enhance the visibility of made in Nigeria products, facilitate market access and increase market share is yeilding results.

IEOM

Join us in our quest to make Africa's largest economy to be self-sufficient through non-oil export and become a member of IEOM.

DATA WATCH 

TWEET OF THE WEEK

PHOTOS OF THE WEEK

🏅 INDUCTION OF FELLOWS: The Institute of Export Operations & Management (IEOM) held an induction ceremony for new fellows of the institute and to flag-off the IEOM Product Development Centre in Port Harcourt recently. CREDIT: IEOM