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Tag: NEPC

  • NEPC: only non-oil export’s forex ’ll spur growth

    NEPC: only non-oil export’s forex ’ll spur growth

    Only Foreign Exchange (forex) earnings from export of non-oil products will spur Nigeria’s sustainable economic growth, the Nigerian Export Promotion Council (NEPC) has said.

    Its Chief Executive Officer Mr. Segun Awolowo made this known at the Quarterly Lecture organised by the former Director General of National Poverty Alleviation Programme (NAPEP), Dr Magnus Kpakol, in Abuja.

    The lecture was titled: “Exporting, exchange rate and economic growth.”

     Awolowo, who was represented by a director at NEPC, George Enyiekpon, a lawyer, said forex generated from remittance from Nigerian relatives abroad could not provide sustainable economic development for the country.

    The NEPC chief also said it was obvious that crude oil was no longer profitable as it was before. He added that the non-oil export should, therefore, be focused on by the country.

    While noting that Nigeria’s exchange rate violability started way back in the 1960s; not just in 2015, he urged the youths to focus on export as a business. According to him, this will not only enable them make ends meet, but also help the country garner much forex.

    However, a senior lecturer in the Department of Political Science and International Relations, University of Abuja, Dr Mutiullah Olasupo, blamed Nigeria’s economic growth problem and her forex violability to corrupt leadership and lack of sound economic policies.

    He said bad governance from corrupt leaders wreaked huge havoc on the country’s economy, adding that it would only take sincere and corrupt-free leaders to savage the economy.

    Olasupo cited Malaysia, Singapore and South Korea as countries that were below Nigeria in terms of economic development in 1960s and 1970s, but through sincere leadership and good governance catapulted themselves to be among the economic buoyant countries far above Nigeria.

    Kpakol said Nigeria could still get it right with economic decisions of the government. He said the Central Bank of Nigeria’s (CBN) policies on agriculture, which were being implemented across the country, were excellent decisions.

    He said CBN’s agriculture policies would not only ensure food security, but are also capable of giving the country a sustainable and stable foreign exchange.

  • NEPC hails Fed Govt for N20b non-oil export settlement claims

    The Nigeria Export Promotion Council (NEPC) has said the reintroduction of the Export Expansion Grant (EEG) into the agric product export business will encourage exportation and boost the economy.

    The commission’s Executive Director, Olusegun Awolowo,  spoke in a one-day stakeholders workshop in Port Harcourt Rivers State capital, for non-oil- product exporters to sensitive them on guidelines for the EEG scheme.

    The Federal Government appropriated N20 billion for EEG to settle 2017 export claims.

    Awolowo, represented by the Director, Export Development and Incentives, George Enyekpo, said the EEG, which suspended for more than four years, would encourage competitiveness in export.

    He said the suspension affected earnings from non-oil export, noting that bringing back the EEG will sustain the growth and development of non-oil export.

    Awolowo hailed the Federal Government for the re-introduction, saying the money would offset export claims and reduce loss of revenue.

    NEPC’s Regional Coordinator in Southsouth Mrs Ikejiofor Azuka said in line with the diversification agenda, the commission introduced a Zero-Oil Plan to ensure that the economy would survive at zero export of crude oil.

    Azuka noted that the EEG is a post-shipment export incentive scheme among incentives given to exporters to help them in their export trade.

    She said: “The scheme is aimed at assisting exporters to expand their volume and value of non-oil exports, diversify of the export market and make them more competitive in international market.”

  • Assessing NEPC’s path to diversification, growth

    Assessing NEPC’s path to diversification, growth

    With the mandate of diversifying Nigeria’s economy from mono-product to multi-product, the Nigeria Export Promotion Council, NEPC, appears to be turning the challenges posed by the current recession to opportunities.

    It indeed sounds gratifying that rather than reeling under the multiplicity of the problems occasioned by the economic downturn, the Council is expanding the frontiers of diversification in the country.

    Given the commitment of the present administration at creating different streams of revenue for the country, it was not a surprised that NEPC is pursuing its core objectives with a renewed vigour.

    For an agency that has been in existence for 41 years, the need to diversify could not be described as new, but the commitment to its objectives at a time like this has not stopped attracting much attention.

    Findings showed that many policies aimed at boosting the current efforts at diversifying have been introduced under the present leadership of NEPC.

    From agriculture, food processing to the encouragement of Small and Medium Scale Enterprises, SMEs, among others, the Council is ensuring that the nation’s export potentialities are realized within a reasonable time frame.

    Some programmes identified to have been commenced by the Council include Zero Oil Plan Initiative, ZOPI, Women in Export Development, Capacity Building for Exports, Cashew Processing for Export, Strategic Partnership with Los Angeles University and CBI Technical Support for Promotion of Nigeria’s Exports among others.

    On ZOPI, the Council is working towards boosting the supply of foreign exchange from non-oil sectors by driving growth in five key areas which include concentration on generating US$30billion from 11 selected strategic export products, exploring the competencies, comparative and competitive advantages of States and Zones through the One State One Product programme, domestic sourcing of products through the launch of first National Export Aggregator and Strengthening of Export Development Fund ,EDF, scheme, and prioritization of Nigerian exports to 22 newly targeted Export destinations.

    Specifically, the aims of the programmes  were discovered to include growing of non-oil foreign exchange from $2.7 billion today to $30 billion, diversification of export base from raw materials to  realization of  $706 million non-oil export to West Africa Sub-region by 2017, increasing non-oil export as a percentage of total export from 5 percent to 20 percent by 2018, increasing participation of SMEs in export trade by 50 percent and creation of 1.5 million new jobs in the SME sector by 2020.

    In addition, the NEPC and the Centre for Promotion of Imports from Developing Countries (CBI) Netherlands are currently administering a capacity building programme for the promotion of non-oil exports and improved access to European Union markets.

    This initiative, it was gathered,  is part of an effort to bring about economic empowerment of Nigerians with the aim of enabling Small and Medium Enterprises’ (SME) export to the EU market.

    Indeed, industry analysts found this function to be in line with the present government’s policy on poverty reduction and job creation, especially with the inclusive growth for women.

    The Council’s collaboration with CBI is to enhance knowledge and implement capacity building as an outcome of needs analysis that will focus on three sectors which are Sesame Seed, Cocoa and Cashew nut as pilot products.

    The same strategy would also be applied in developing other products.

    The  programme is currently training NEPC Coaches and a group of objectively selected companies drawn from the Sesame Seed, Cocoa and Cashew sub-sectors who are focused to improve the contribution of the non-oil export sector to the economy of Nigeria.

    However, the emphasis is on training farmers, processors and exporters as a whole in the entire products value-chain with a view to improving productivity, including establishing a sustainable local processing capacity, for the purposes of exports.

    It is also understood that the Council facilitated a credit facility for Foodpro, an Ilorin based Cashew manufacturing company to procure cutting-edge equipment and machines for Cashew processing.The objective is to boost cashew export and make the product competitive in the international market.

    The NEPC had in 2016, spearheaded the participation of Nigerian Cashew Processors to World Cashew Convention in Singapore to expose stakeholders to new technologies which would result in increased value addition, inclusive growth and job creation.

    Interestingly, it was learnt that plans have been concluded for Innoson Motors Limited to export 400 vehicles to Mali following the company’s readiness to sign Memorandum of Understanding with Taxi Plus and VIP – two major transport companies based in Mali, for use in the expansion of transport business in that country.

    This, which is seen as a key achievement, is as part of the outcome of the “Made-in-Nigeria ProductsExhibition” held in Bomako.

    . The Exhibition was facilitated by NEPC in collaboration with Ginco Group, a Nigerian firm based in Mali to showcase Nigeria’s exportable products.

    With the support of the Federal Ministry of Industry, Trade and Investment, NEPC and ITC launched the ‘SheTrades’ initiative during Women in Export Stakeholders Forum and Exhibition in Abuja on July 13, 2016.

    The programme seeks to connect one million women entrepreneurs globally by 2020.

    It is believed that through the forum Nigerian women will be established as part of ongoing efforts to empower women to drive trade-led development.

    Kurebe, a social critic sent in this piece from Abuja

  • Awolowo: N5b to boost tannery, plastic export coming

    Awolowo: N5b to boost tannery, plastic export coming

    The Executive Director and Chief Executive Officer,  Nigeria Export Promotion Council (NEPC), Chief Olusegun Awolowo, yesterday in Kano said  the Council has requested about N5 billion from the Federal Government as pre-shipment incentives for exporters in the country this year.

    Awolowo who was in Kano, Kano State capital, for a fact-finding tour of some tannery and plastic industries in the ancient commercial city, said: “For three years running, the Federal Government suspended the Export Expansion Grant (EEG), which has now been replaced with Export Development Fund (EDF) in order to boost the sector.”

    He said EDF has been well positioned to boost the economy and encourage exporters of finished leather works, plastics and other tannery materials to grow their business and also diversify the economy.

    Awolowo said: “The essence of my coming to Kano is, of course, to visit the factories and see what more we can do to support them.

    “These are companies that employed thousands of Nigerians and they are providing employment for more people.”

    “It is not just about the export of goods, it is really about what they provide to grow the economy and the livelihood of Kano and Nigeria in general.

  • NSE, NEPC partner on economic diversification

    The Nigerian Stock Exchange (NSE) and the Nigerian Export Promotion Council (NEPC) yesterday committed to mutual cooperation and collaboration towards achievement of the economic diversification agenda of the government.

    Chief Executive Officer, Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo, was at the NSE in Lagos yesterday to formally present the Zero Oil Plan of the NEPC to stakeholders at the stock market.

    The Zero Oil Plan seeks to develop the non-oil potential of the Nigerian economy by focusing on development of key export-oriented products. It is estimated that Nigeria stands to achieve greater growth and development through its agricultural and non-oil mineral resources.

    Awolowo underscored the importance of the Zero Oil Plan and the diversification agenda of the government noting that Nigeria slipped into recession because of its lop-sided dependence on crude oil as its major export commodity.

    According to him, with gradual decline in oil revenues from $70 billion in 2014 to $50 billion in 2015 and $40 billion in 2016, it was evident that Nigeria’s economic decline was in line with the crude oil decline.

    “If we are not selling anything except oil to get foreign exchange as at today, then we are going to continue to be in this kind of trouble, so we developed the zero oil plan based on President Muhammadu Buhari’s call for diversification of the economy,”  Awolowo said.

    He noted that Nigeria has enormous non-oil potential as it has some 22 non-oil sectors that it can concentrate on as sources of foreign exchange.

    He said the Zero Oil Plan also seeks to develop the value chain of Nigerian exports rather than the current dominant trend of raw material exports.

    “We knew that value exports are the only way we are going to promote the economy. We are tired of selling raw materials, without adding value to the economy and then importing the finished product of the raw material exported. We export cocoa and buy chocolate, all these must stop. The revival of our economy must be an export-based revival,” Awolowo said.

    Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema said the Exchange would support the Zero Oil Plan by encouraging market operators and quoted companies to cue into the programme.

    He commended the initiative to diversify the economy and develop additional sources of foreign exchange earnings for the country.

    “We are very happy to collaborate with NEPC,” Onyema said.

    Doyen of stockbrokers, Alhaji Rasheed Yusuf said the stockbroking community would support the NEPC by providing specialised services to export-based companies under the NEPC.

    “We are set to offer the services of the NSE to the companies under NEPC. It is our expectation that now that you have come, we are now on the same page, the stockbrokers are ready to support in boosting the non-oil export,” Yusuf said.

  • BREXIT: NEPC chief calls for stronger economic relationship with UK

    BREXIT: NEPC chief calls for stronger economic relationship with UK

    Nigerian Export Promotion Council (NEPC Executive Director Olusegun Awolowo has said that Nigeria with maintain its strong economic relationship with the United Kinddom (UK) to achieve the 4.5 billion pounds post BREXIT.

    Awolowo made the statement in Abuja yesterday at a stakeholders’ forum on BREXIT with the theme “Opportunities and Challenges for Nigeria’’.

    Brexit is an abbreviation for “British exit,” referring to the UK’s decision in a June 23, 2016 referendum to leave the European Union (EU).

    He said: “The Commonwealth noted that with the proposed Trade and Investment Cooperation Agreement (TICA) between both countries, the UK’s Foreign Direct Investment (FDI) could increase to 4.5 billion pounds from one billion pounds by the year 2030.

    “This will be possible if both countries implement programme to improve trade competitiveness and ease of doing business between them.’’

    Awolowo said the forum was to discuss with stakeholders in international trade on the opportunities and challenges of Brexit to Nigeria.

    He said: “You will agree with me the EU is one of our leading trading partners. On the other hand, UK is one of the major export destinations and source of FDI for Nigeria and some other countries.

    “Nigerian exports to the UK in 2015 stood at four per cent of its global exports valuing a little over $2.1 billion. Nigeria also imported about four per cent of its global import valuing 1.6 billion dollars from UK.

    “In view of this, we need to maintain a strong economic relationship with Britain in alignment of our membership of the Commonwealth.’’

    Awolowo said the objective of the forum was to guide policy formulators and implementers on necessary mechanism required to maintain and consolidate on the relationship with British government.

    He added that it would also enable participants to have a full understanding of the implications of Brexit on the economic and political environment.

    A Commonwealth Trade Adviser, Mrs. Opeyemi Abebe, said the Federal Government should put up policy alternative for the security of Nigerian export into the UK in the post-Brixit era.

    “Nigeria had traded with UK under a trade agreement that included the whole of the Europeans; Britain leaving EU, it has implication for the country trade for both oil and non-oil,’’ Mrs. Abebe said.

    She said the forum was to discuss opportunities that would arise and how the country could take advantage of some of the trade diversion that might occur as Britain left the EU.

    “Automatically, some of the exports from Nigeria will become a little more competitive than some of the exports from the Eastern European counties  into the UK, giving our traditional relationship with the UK,’’ Abebe said.

    She said the Commonwealth had identified the agriculture sector, which showed that with about 21 product lines, Nigeria could be more competitive in the UK market to expand its exports.

  • NEPC, Japan partner on packaging agric produce for export

    The Nigerian Export Promotion Council (NEPC) has  partnered Japan External Trade Organisation (JETRO) to improve the quality of packaging of agricultural produce for export.

    NEPC Executive Director Mr. Segun Awolowo announced this at a capacity building programme in Lagos.

    The theme of the programme was: “Logistical packaging technology for agricultural products.”

    Awolowo said the synergy would reduce post-harvest losses arising from poor packaging. According to him, there is no shortcut to producers of vegetables and perishable products to be competitive in the global market without quality packaging.

    “About 50 per cent of fresh fruits are lost as a result of poor packaging, handling and preservation. The capacity building programme will assist the average farmer and exporter to gain better insights into issues related to global standards on packaging for export. Our resolve to collaborate with Japan and other stakeholders is borne out of the need to drastically reduce post-harvest losses among farmers, processors and exporters leading to revenue losses,” he said.

    Awolowo said the partnership aligned with the policy of the government to curtail the rejection of produce from Nigeria. He added that packaging and standards were global issues that determined product development and sustainability of its market.

    “Needless to point out that a good quality product without efficient packaging is as good as a bad product,” Awolowo said.

    Trade Commissioner, JETRO, Mr. Taku Miyazaki, said the collaboration was essential to the development of the agriculture sector and actualisation of the diversification agenda of the country.

    According to Miyazaki, there is huge potential in the country’s agriculture sector with Nigeria being number one producer of commodities, such as yam, cassava, groundnut and maize.

    “Nigeria is the biggest supplier of sesame to Japan for the purpose of producing edible oil. In 2016, Nigeria exported approximately 55,000 tonnes of sesame to Japan.

    “JETRO wants to contribute and encourage exportation of Nigerian agricultural products to the world through provision of logistical packaging technology,” he said.

    Miyazaki said the partnership would promote investment, enhance export and boost the trade relations between Nigeria and Japan.

  • NEPC, Sterling Bank partner to establish ICT centre

    The Nigerian Export Promotion Council (NEPC) has  partnered  with Sterling Bank to establish  an Information Communication Technology (ICT) centre to encourage  competitiveness and enhance sustainability of non-oil exports.

    Mr Olusegun Awolowo,  the Chief Executive Officer of  NEPC, gave the indication at the inauguration of the new centre  in Lagos on Monday.

    According to him, the centre is a platform for training, information gathering and sharing, awareness creation, networking and market access for exporters.

    He said that ICT had far reaching role in supporting   modern technological innovations, sustainable development and access to global partners in the market space.

    “Entrepreneur with current and useful information is empowered to enhance opportunities, productivity and wide outreach which will impact positively on our non-oil export base,” he said.

    Awolowo said that the centre would be replicated in the six regional offices of the council to drive the country’s diversification agenda.

    Mr Kayode Lawal, the Executive Director, Corporate and Investment Banking, Sterling Bank, said that the centre would keep exporters abreast on the developments in the ever changing global commodity prices.

    “Nigeria is a large exporter of crude oil, but not the largest exporter of agricultural produce which is the next agenda to change,” he said.

    Lawal said that export business and banking were interrelated, adding that the two areas were avenues for job creation, innovation and economic growth.

  • NEPC, UN streamline export procedure

    NEPC, UN streamline export procedure

    The Federal Government and the United Nations have partnered to streamline the process for exporting goods to the global market.

    The Nigeria Export Promotion Council (NEPC) in partnership with the United Nations Centre for Trade facilitation and Electronic Business agreed to simplify national and international transaction.

    This partnership is in line with recent successes recorded in the country’s quest to ease the time spent on doing business. According to World Bank report, Nigeria recorded marginal improvement from 169 to 149 out of the 190 countries surveyed globally.

    The Executive Director/CEO Nigeria Export Promotion Council NEPC, Olusegun Awolowo said the UN/CEFACT’s goal is simple, transparent and effective processes for globsl commerce. The organisation aims to help businesses, trade and administrative organisation, from countries at all levels of development, exchange products and services effectively.

    He spoke at a National Workshop on Trade Facilitation in Abuja, stating that the UN/CEFACT focuses on simplifying national and international transactions by harmonising processes, procedures and information flows, rendering them more efficient and streamlined, with the ultimate goal of contributing to the growth of global commerce.

    He said: “Just two weeks ago, Nigeria became  107th member of the World Trade Facilitation Agreement (TFA) in Davos. Ratification of the TFA shows Nigeria’s dedication to UN/CEFACT recommendation and it is a reflection of the country’s commitment to creating an enabling environment for businesses.

    “By ratifying the TFA, Nigeria has moved closer to overcoming our cumbersome trade processes and streamlining our trade procedures. The TFA contains provision for expediting the movement, release and clearance of goods. It also sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance.

    “According to a 2015 WTO (World Trade Organisation) study, full implementation of TFA can reduce members trade costs by an average of 14.3 per cent with developing countries having the most to gain. Recommendation 33 establishing a single window interoperability are two more essential UN/CEFACT recommendations with which NEPC has been proud to participate.

  • NEPC prepares Plateau farmers for tomato export 

    NEPC prepares Plateau farmers for tomato export 

    The Nigerian export promotion council (NEPC), a federal government agency for the promotion of non-oil export has concluded arrangements to help tomato farmers in Plateau state to boost production and export of the product.

    Tomato is one of the commodities targeted by NEPC’s zero oil plan Zonal coordinator of NEPC, North Central, Mr. Nanakaan Saave disclosed this during a one day workshop organized by the zonal office of NEPC for tomato farmers and other stakeholders in the state.

    Mr. Saave in his welcome address to participants in the workshop said, “The export of agricultural products like tomatoes is one of the items that can be used to diversify the economy of the country from its over dependence on oil export.

    He said, “We have discovered in the zonal office that there is high concentration of small scale farmers in Plateau state that produces between 25,000 to 30,000 metric tones of tomatoes annually.

    “The study also revealed that tomato farmers on the Plateau suffers a lot of deficiencies in the areas of production, storage, handling and packaging, which makes the output unfit for the export market. Further more, the varieties cultivated are not the high yielding and disease resistant ones.

    “For the commodity to make a contribution to national foreign exchange earnings, there is therefore need to further enhance the capacity of farmer to produce high quality tomatoes that will attract premium price in the international market with a view to boosting its export in line with the focus of zero-oil plan”

    According to Mr. Saave, “It is in this wise that the zonal office sought and got the intervention of the headquarters to organise this capacity building workshop for both farmers and other stakeholders with a view to assisting to boost the production and export of the commodity from the state”

    Plateau state commissioner for Commerce, Mr. Ezekiel Daju, while declaring the workshop open said, “The capacity building will go along way in boosting the efforts of the state government in empowering small scale farmers in the state.

    In her goodwill message, Plateau State commissioner for agriculture, Mrs. Lynda Barawu, who was represented by Mrs. Halima Pamwa, called on participants to learn, absolve, then go home and practice what they would have learnt from the workshop.