The Nation Newspaper

Tag: exports

  • MAN decries inadequate non-oil export

    MAN decries inadequate non-oil export

    Manufacturing Association of Nigeria Export Promotion Group (MANEG), a lobby group within the Manufacturing Association of Nigeria (MAN) has described as scandalous the growing deficit in the nation’s non-oil export, saying the Federal Government needs to step up its game.

    The body spoke through its chairman, Mr. Tunde Oyelola.

    In a statement tagged: ‘Way Forward on Non-Oil Export’ obtained exclusively by The Nation at the weekend, the group urged the government to take concrete measures aimed at turning the tide in the sector.

    While attempting a comparative analysis of the performance of the non-oil export from January – June 2013, it observed that non-oil exports for the period stood at about 1.52 billion US dollars; out of which, commodity exports was about 1.23 billion US dollars (81% of total non-oil exports), while manufacturing exports was 0.285 billion US dollars (19% of total non-oil exports).

    Considering the importance of the manufacturing sector to Nigerian economy, especially its contribution towards job creation, MAN Export Group said it was not satisfied with the performance of manufacturing exports in particular and the total non-oil exports.

    On the way forward, the group recommended to all stakeholders especially to the Federal Government and its MDAs for better performance of the sector in Nigeria foreign trade in the near future. Government, it stressed, “should support manufacturing exports in her Foreign Aid Policy by giving out made in Nigeria products rather than cash to countries that are getting Aid and Assistance from Nigeria,” adding: “This will benefit manufacturers, professional service providers and broaden the non-oil exports. It will also create awareness for Nigeria products and services in those countries, strengthen the business relationship between the countries and Nigeria, and will help create positive image of the country.”

    While decrying the menace of cloning and counterfeiting of manufactured products in the sub region by Asian countries with dire consequences for many Nigerian manufacturers who are losing export markets as a result, the MANEG urged the national as well as regional governments to protect the real owners of trademarks and brand names to ensure that their investments are secured and safe in the region.

    The group also urged to ensure effective administration of Export Expansion Grant, “Since that is the only functional incentive exporters relied on to cushion the effects of high cost of production and remained competitive in the export market. We still recommend that rather than embark on frequent review of the EEG scheme, government should work out a mechanism that ensures effective administration of the scheme and time for evaluation and review with all stakeholders.”

  • Nigeria’s non-oil exports hit $1.40b

    Nigeria’s non-oil exports hit $1.40b

    Nigeria exported non-oil products worth over $1.40 billion this year, The Nation investigation has revealed. The figure represents about 11 per cent decline from the over $1.43 billion recorded over the same period last year.

    The country exported goods worth $161.6 million dollars in January, this year compared to   $307.2 million realised a year ago.

    The Executive Director, Nigerian Export Promotion Council (NEPC), David Adulugba, put the value of non-oil export for the first and second quarters of the year at $660.1million and $686.2 million as against $818.8 million and $676.2 million recorded for the same period in 2011.

    The NEPC boss attributed the decline to unrecorded exports, the fuel crisis and workers’strike in January.

    Adulugba said the nation exported non-oil products worth $242.9 million in February, this year compared to $273.6 million recorded in the same period last year, adding that Nigeria exported non-oil products worth $255.7 million and $220.6 million in March and April, this year compared, as against $237.9 million and $250.6 million recorded for 2011.

    He said the country’s non-oil exports in May and June, this year were $242.6 million and $223.1 million, compared to $703.5 million and $222 million recorded in the same period in 2011.

    “The agency is working hard to translate the $2.8 billion per annum export to 40 per cent ($3.92 billion). All sorts of strategies will be adopted to achieve the target within the regional market.’’

    He said the high incidence of unrecorded exports had been a major challenge to accurate reporting of the performance of the non-oil sector in the country.

    To tackle the problem, Adulugba said the Federal Ministry of Trade and Investment was making moves to establish border markets at some strategic locations,pointing out that the country’s non-oil exports were dominated by raw commodities and few products with value addition.