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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 1289 words, a 5-minute read.

IN BRIEF

⚡ Situational awareness: Nigeria's Headline Inflation for October 2022 was 21.09%, from 20.77% in September 2022 according to NBS.

• Nigerian Rice Farmers Association Signs Export Deal

• Why the African cocoa cartel is a bad idea

• Nigeria’s survival lies with non-oil export

EXPORT

1 big brief: Nigerian Rice Farmers Association Signs Export Deal

The Rice Farmers Association of Nigeria (RIFAN) has signed a memorandum of understanding for the processing and sale of rice domestically and abroad.

Why it matters: The deal was aimed at the cultivation of quality rice paddy by RIFAN, while Tiamin (a mill and processing company) processes and packages for sale locally and internationally, particularly to Egypt.

• The MoU, which would be in effect for two years, was signed at the company's mill in Bauchi State, which has a 600 metric tonnes per hour capacity.

💬What they're saying: “RIFAN and Tiamin share a common agenda in the area of rice farming and milling. This is to ensure a sustainable supply chain management of rice under a partnership that seeks to produce, mill and package processed rice of the highest quality for export and local trading. With a combined capacity of 920 tonnes per hour from its two mills in Kano and Bauchi states, Tiamin Rice is one of the largest producers of rice in Nigeria,” he said. - Mr Aliyu Ibrahim, Deputy Managing Director of Tiamin Rice Company.

• He said the intervention was to the tune of over N20 billion, adding that the company had successfully repaid four of the intervention funds.

TRADE ROUNDUP

EXPORT | Nigeria’s survival lies with non-oil export – NEPC

• We want Nigerians to step into the reality that the only way to guarantee our economic survival is through non-oil export.

TRADE | Why the African cocoa cartel is a bad idea - The Economist

• Big commodity buyers do not usually pay their suppliers to produce something that they will never buy. Yet Nestlé, one of the world’s biggest chocolate-makers, is paying 10,000 cocoa farmers in Ivory Coast to do exactly that. Among them is Tanoh Kouadio, a 45-year-old cocoa farmer whom Nestlé will pay about 67,000 west African francs ($104) to start raising chickens.

• Eating chocolate is one of life’s greatest pleasures. Selling it can be rather profitable. Alas, growing the beans that go into it is neither particularly profitable nor pleasurable.

UPCOMING TRAINING - ABUJA

A MESSAGE FROM GGI

Climate Action: With exploration comes the need for expertise and sustainability

At GGI, we combined expertise, innovation and sustainable practices in meeting our client's engagements. Our actions to mitigate climate change are central to making the world a better place. Learn more.

EXPORT PROMOTION

🗒️ Non-oil export sector has performed beyond expectations –NEPC CEO

In spite of the global economic recession that affected most businesses in 2021, the sector recorded a significant result in the first half year of 2022 as a total of 4,146,534 metric tonnes of product worth $2.593bn was exported representing a 62.37 percent increase, as against the sum of $1.59bn for the first half year in 2021 and 2020 which stood at $981.44m respectively.

• Produce like sesame, ginger, and hibiscus, have witnessed increased production locally and have driven up our export volume.

Why it matters: The NEPC and its inter-agency partners comprising NPA, SON, NCS, NAQS, NPF, NAFDAC, had licensed 13 Domestic Export Warehouse (DEW) operators across the country. These DEW operators and their facilities require some level of investment in equipment, infrastructure, and personnel which will also require some time to get together.

• Among the 13 licensed operators, two (Kaduna Inland Dry port and Esslibra in Ikorodu) are fully ready and have commenced skeletal operations. The FRSC has approved special plate numbers for DEW trucks conveying export-designated containers while the Inspector General of Nigeria Police has designated an officer as the liaison on the DEW.

• All the export regulatory agencies have agreed and have nominated scheduled officers for each facility. While the NEPC, NPA, and TTP are working on the modality for accessing the ports via the e-call up for DEW trucks. The constraints faced with operationalizing the DEWs are being addressed and soon full commencement of operations will be launched.

Zoom out: To make Nigerian products competitive in the global market, we also established three Export Trade Houses in 2022, in Cairo, Egypt, Lome in Togo, and Nairobi in Kenya respectively.

• The major objective of the ETHs is targeted at increasing Nigeria’s international market share and growth, enhancing the visibility of Nigerian products as well as increasing foreign exchange inflow and creating employment for the teaming youths.

Go deeper.

UPCOMING TRAINING - PORT HARCOUT

IEOM

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 TWEET OF THE WEEK

The AU summit opens today in Niamey, Niger.

• Download the publication here.

PHOTO OF THE WEEK

NIGERIA TO THE WORLD: (L-R), Mr. Adewale Wally Adeyemo, US Deputy Treasury Secretary meeting with Ms. Kemi Badenoch UK International Trade Secretary in Washington DC recently. Pic. Credit/Twitter