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Tag: Nigerian Export Promotion Council (NEPC)

  • Export committee targets $150bn revenue

    Export committee targets $150bn revenue

    The National Committee on Export Promotion ( NCEP ) says it is targeting 150 billion dollars revenue through Zero Oil Plan (ZOP) initiative.

    Mr Olusegun Awolowo, Executive Director of Nigerian Export Promotion Council ( NEPC ) and member of the committee disclosed this to newsmen at the end of the committee’s meeting in Abuja on Thursday.

    Awolowo said that the revenue would be earned in a period of 10 years and would be used to strengthen the country’s foreign reserve.

    He said that the committee had the task to aggregate all issues affecting export in the country and make recommendation to the Federal Government.

    “The constitution of the committee seeks to replace oil as the source of foreign exchange earner by growing non-oil exports from present five billion dollars to 30 billion dollars by year 2020.

    “The objective of the plan is to further add extra 150 billion dollars (minimum) to Nigeria’s foreign reserves cumulatively from no-oil exports over the next 10 years.

    “We will create at least 500, 000 additional jobs annually due to increase in productive and export activities as well as lift at least 10 million Nigerians out of poverty,’’ he said.

    According to Awolowo, the committee is expected to submit an initial report on Nov.16, 2017.

    He said that the committee’s terms of reference were to aggregate all the issues and recommendations as highlighted in the various initiatives on diversification of Nigeria’s economy.

    Others are to consult with the states for their input on the subject and draw up a workable plan to enhance export promotion.

    On his part, Gov. Mohammed Abubakar of Jigawa, who is the Chairman of the committee, said that the committee would work with state governments to actualize it objectives.

    According to him, all issues currently facing the country’s export will be adequately addressed.

    “Non-oil export growth is the only way forward for a sustainable development,’’ he said.

    Prof. Yemi Osinbajo, Vice President and Chairman, National Economic Council ( NEC ), inaugurated the committee a few days ago at the 80th meeting of NEC in Abuja.

    NAN

  • Nigeria pledges commitment to eradicate poverty

    Nigeria pledges commitment to eradicate poverty

    Nigeria has pledged its commitment to eradicate poverty through various policies of the Federal Government to transform the nation’s economy , particularly agriculture.

    Mr Arnold Jackson, Assistant Director, Nigerian Export Promotion Council ( NEPC ), stated this while delivering Nigeria’s statement on ‘Eradication of Poverty’ during the general debate at the 72nd Session of the UN General Assembly in New York.

    Jackson said: “One of the policies of government to drastically reduce unemployment and by extension reduce poverty is the N-Power programme, aimed at engaging 500,000 Nigerian youths.

    “The N-Power provides a structure for large scale and relevant work skills acquisition and development while linking its core and outcomes to stimulating the larger economy.

    “The beneficiaries of the programme will help in diversifying Nigeria’s economy as well as actualising economic and strategic aspirations of achieving food security and self sufficiency.

    “No fewer than 150,000 Nigerian young graduates have already been engaged under the N-Power Scheme, while the process of engaging the remaining 350,000 is currently underway”.

    According to him, Nigeria is paying special attention to agricultural development in view of its importance to employment generation, women empowerment and poverty eradication.

    “Hence, various agricultural schemes have been initiated to create opportunities for women and youth, with the aim of supporting them with necessary infrastructure to attract various levels of agro investments and non-oil export opportunities.

    “Some of these schemes include the ‘Green Initiative’, ‘Zero Oil Plan’, ‘Zero to Export’, ‘One State One Product’, to mention a few.

    “Government is committed to ensuring that her agricultural advantages are further boosted through technology transfer, export promotion and rural development, which are fundamentally important for agricultural development in Africa.

    “Nigeria would continue to encourage other countries to grant market access opportunities to her exportable agricultural and other products,” he said.

    Jackson said it was Nigeria’s firm belief that gender equality and women empowerment would be better achieved through the eradication of poverty and the implementation of appropriate economic measures.

    “This is why a ‘National Social Protection Policy’ is currently under consideration to address poverty, vulnerability and inequality in the country.

    “The Nigerian government has also intensified campaign for the Girl Child education in order to secure their future participation in national development.

    “This effort should be emulated globally to improve the situation of women in the context of the 2030 Agenda.

    “At the global level Nigeria keys into several initiatives aimed at empowering women and the girl child, such as the ‘She Trades Initiative’ by the International Trade Centre,” he said.

    He said Nigeria rightly acknowledged that eradicating poverty in all its forms and dimensions remained the greatest global challenge and an indispensible requirement for sustainable development.

    “It is on this premise that Nigeria avows that international cooperation to combat illicit financial flows and enhance asset recovery to foster sustainable development.

    “This is a practical sincere commitment to eradicating poverty and by extension ensuring the attainment of sustainable development,” he said.

    NAN

  • Nigeria targets $30b non-oil revenue

    Nigeria targets $30b non-oil revenue

    To restructure the economy, the Federal Government is targeting at least $30 billion revenue from non-oil sources.

    This will be an increase of $25billion from the current $5 billion.

    Nigerian Export Promotion Council (NEPC) Director – General Segun Awolowo announced this plan yesterday after the National Economic Council (NEC) meeting chaired by Vice – President Yemi Osinbajo at the Presidential Villa.

    With him at the briefing were Ebonyi State Governor Dave Umahi, Kwara State Governor Ahmed Abdulfattah and Kebbi State Governor Atiku Bagudu.

    Awolowo said Nigeria was going through the sharpest fall of export revenue in her history, losing over $100 billion (N30 trillion) between 2015 and 2017 due to the crashing oil prices, which resulted in recession.

    He said: “The NEPC made a presentation to the NEC on a plan to restructure the Nigerian economy to survive without crude oil. The plan is called ‘the zero oil plan’.

    “Council was informed that there was urgent need to rapidly ramp up non-oil exports as our future earnings from crude oil face significant headwinds.

    “The zero oil plan aims at earning at least $30 billion from non-oil sources in the near to medium term as against the current earnings of about $5 billion.”

    Awolowo said the objectives of zero oil plan is to add $150 billion to Nigeria foreign reserves in the next 10 years, create 500,000 jobs, lift 10 million Nigerians out of poverty and integrate each state of the federation into the export value chain.

    He said that the focus of the plan is on the export of the following crops: rice, wheat, corn, palm oil, rubber, hides and skin, sugar, soya beans and automotive parts among others.

    Awolowo listed the destination countries for Nigeria’s exports to include Netherlands, China, Iran, Germany, United Kingdom, France, Spain, Italy, India, Saudi Arabia, among others.

    He said Nigeria Export Import Bank (NEXIM) briefed the Council on the “States Export Development Initiative” which is being pursued as a medium to long term strategic plan aimed at stimulating and increasing deliberate funding intervention to SMEs in the non-oil sector for attainment of its objectives.

    He added that Council was informed that one of the major objectives of the initiative is contributing to the implementation of economic policies of the country, like the ERGP and Agricultural Promotion Policy, among others.

    He added that the initiative is built on schematic transaction dynamics with key features like provision of a dedicated funding of a minimum of N5 billion as a pilot phase with window for other facilities and partnership for transactional support.

    The Council also constituted a committee towards improving Nigeria’s non-oil exports.

    The committee is made up of Governors Badaru Abubakar (Jigawa) Akinwunmi Ambode (Lagos) and Dave Umahi (Ebonyi), Ministers from Industry, Trade & Investment, Agriculture & Rural Development, Power, Works & Housing, Transportation and Finance.

    Other members are  the (NEPC), NEPZA, NEXIM Bank, and the Central bank of Nigeria (CBN).

    Governor Abubakar is the Chairman while and Industry, Trade & Investment Minister Okechkwu Enelamah is Co-Chair.

    The Committee is expected to submit an initial report by November. It will deliver a concise action plan on how to drive non-oil exports based on the presentations and discussions at today’s Council meeting.

  • Africa Fashion Week London to feature over 100 African designers, exhibitors

    Africa Fashion Week London to feature over 100 African designers, exhibitors

    Over 100 African fashion designers and exhibitors will feature at the 7th edition of Africa Fashion Week between Aug.11, 2017 and Aug.12, 2017 at the Grand hall of the Freemasons in London.

    Ronke Ademiluyi, founder, Africa Fashion Week Nigeria/London (AFWNL), disclosed this to the News Agency of Nigeria (NAN) in Lagos on Wednesday.

    She said that the event would be an exhibition of the African fashion whose creations had become unique designs and brands.

    She said that the designers and exhibitors would be coming from Ghana, Togo, Kenya, South Africa, Congo, Tanzania, Mozambique, Senegal, Uganda, and Cameroon.

    “Some Nigerian designers that will, also, be participating include Signature Secret, Neopele, Lady Biba, Step Up, Sheila Black Style, House of Bo and Joela Bags.

    “The Nigerian Export Promotion Council (NEPC), will lead a delegation of Nigeria’s best emerging designers that will also be accompanied by the Council’s  catwalk show,’’ she said.

    Ademiluyi also told NAN that no fewer than 10,000 guests were expected to grace the two-day show at the Freemasons Hall in London to be entertained by 60 catwalk shows with daily exhibitions.

    “This year’s show will hold in two days; with five shows, that will have 60 designers on the catwalk, along 40 exhibitors,’’ she said

    Ademiluyi said that the African show would be part of activities to promote African fashion before the international community.

    “Africa Fashion Week London, a sister event to the just concluded Africa Fashion Week Nigeria, is a celebration of African designs, talents and diverse ethnic fashions in the United Kingdom (UK).

    “It is going to be a celebration of African designs, talents and the diverse ethnic influences that contribute to the development of fashion industry in the UK.

    “Samson Soboye, an established London-based fashion stylist and a creative director behind the brand `Afro chic’ who has worked as a freelance stylist for publications will be our head stylist for AFWL 2017 ,” she said.

    She said that since the debut of the programme in 2011, it had been identifying and promoting new and emerging designers inspired by the rich culture of Africa and contemporary designs.

    The princess said that AFWL had become Europe’s largest event for African and African inspired fashion.

    Ademiluyi said that the show was conceived at promoting new and emerging designers that were inspired by the rich African culture incorporated into contemporary designs.

    She said that AFWL had become the platform through which designers boost their creativity in African fashion at international markets, as well as the nation’s tourism industry.

    Ademiluyi, founder of Africa Fashion Week London/Nigeria, said that Africans should appreciate what they had and make efforts to promote them to the rest of the world.

    NAN reports that the 2017 Africa Fashion Week, Nigeria organised in conjunction with the Lagos State Government, in April and June, showcased the nation’s iconic pride with the theme: “ Celebrating the vibrant Pulse of Africa’’.

  • NAFDAC advises exporters to stop embarrassing Nigeria

    NAFDAC advises exporters to stop embarrassing Nigeria

    The National Agency for Food And Drug Administration and Control (NAFDAC) has advised Nigerian exporters to stop embarrassing the country by obtaining the agency’s certification of products.

    The Spokesman of NAFDAC, Dr Abubakar Jimoh, gave the advice while fielding questions from the News Agency of Nigeria (NAN) on Monday in Abuja on the rejection of about 25 Nigerian produce by the European Union (EU) between 2015 and 2016.

    Jimoh explained that the EU had rejected the 25 exported food products from Nigeria for lack of standard.

    NAN reports that some of the food products on the EU rejection list from Nigeria include beans, sesame seeds, melon seeds, dried fish and meat, peanut chips and palm oil, among others.

    He therefore urged exporters to subject their products to NAFDAC’s standard and internationally accredited laboratories for proper certification.

    He said that the screening and certification of any product for export by NAFDAC was free of charge in spite of facilities, personnel and chemical reagents being used to conduct such tests.

    “The Federal Government is doing this as a deliberate policy to encourage our exporters and to satisfy international standards for exports.

    “We are now appealing to our exporters not to run away from product certification of NAFDAC, it is free and we don’t charge anything for such service.

    “We have adequate personnel and equipment to carry out such responsibility in the country,’’ Jimoh said.

    The spokesman lamented that the action of exporters has put the country’s image in bad light and also cause a huge loss to the exporters themselves which had implication to the economy of the country.

    According to him, NAFDAC had six functional laboratories that conduct various types of products test across the country.

    He also decried exporters’ penchant for bypassing NAFDAC and smuggling of their products at the detriment of the country’s economy and their income.

    Jimoh said that the agency had two functional laboratories in Lagos, one each in Kaduna, Agolo in Anambra, Maiduguri and Port Hacourt, while the one in Calabar had not been completed.

    He disclosed plans to establish another laboratory in Benue to serve exporters in the North Central part of the country.

    Jimoh, who is also the NAFDAC Director Special Duty, noted that the laboratory in Lagos had been accredited internationally and any product that gets approval from such lab would be recognised globally.

    He confirmed that the EU had certified the laboratory in Lagos and considered it as meeting the world standard.

    He disclosed that Kaduna laboratory was inherited by NAFDAC from the Federal Ministry of Health and later gutted by fire, but that the agency had built a new lab.

    The spokesman added that the Kaduna laboratory was built to serve all agricultural farm produce coming from the north for screening and certification and exportation.

    He added that the laboratory has required facilities and equipment and was now awaiting international accreditation.

    According to him, Agolo, a regional laboratory built by NAFDAC and inaugurated sometime in 2010 by former president Goodluck Jonathan, also has the capacity to serve exporters from the South East region.

    “The EU team that visited our lab in Lagos about a year and half ago were happy with what they met on ground.

    “We have two laboratories in Lagos, the one in Oshodi deals with food products, micro toxic, High Liquid Performance Chromatography and pesticide residues, while the one in Yaba deals mainly on drugs.

    “Laboratory is capital intensive and we cannot have it in every state; therefore those we have now serve states close to them.

    “We have the capacity and we are well prepared to ensure all our exported products from the country get NAFDAC’s clean bill of health as an agency charged with responsibility of quality control,” he said.

    Jimoh also urged the Nigerian Customs Service to continue to cooperate with NAFDAC in ensuring that such products were not smuggled out of the country.

    Meanwhile, the All Farmers Association of Nigeria (AFAN) in Kano says it will convene a meeting with producers of agricultural products affected by the EU rejection policy to reverse the development.

    The state AFAN Secretary, Alhaji Garba Bichi, told NAN in Kano that the meeting would draw all stakeholders from across the state in order to find a lasting solution to the problem.

    “We have decided to convene a meeting with all those affected by the EU rejection on some agricultural products in order to address the issue.

    “The rejection is as a result of the failure of producers to meet standards due to incorrect application of pesticides and other agrochemical substances.

    “So we feel it is necessary to meet with affected farmers and other stakeholders to find a way out,” Bichi said.

    He assured that even though some of the affected products were not produced in the state, but the association would meet with the affected producers with a view to taking a collective decision on the issue.

    The scribe said the meeting was expected to come up with useful recommendations for immediate implementation and if possible seek technical advices from experts.

    An official of the Nigerian Export Promotion Council (NEPC) in the Kano State told NAN on condition of anonymity that the council last year trained some farmers of a particular product, following the development.

    The official, who, works at the Enquiry Desk, said the training which was held in Kaduna, was conducted on melon and ginger where farmers were given technical advices on how to add value to their products and ease acceptability in the international markets.

  • Govt can solve unemployment by investing more in textile/fashion industry – Awolowo

    Govt can solve unemployment by investing more in textile/fashion industry – Awolowo

    Mr Segun Awolowo, the Chief Executive Officer, (CEO) Nigerian Export Promotion Council (NEPC), says government must invest more in the fashion/textile industry to solve the rate of  unemployment in the country.

    Awolowo said that the industry was a viable sector to invest in because the country is blessed with a vast land to cultivate cotton; the major raw material required by the fashion industry.

    He said these as the grand finale of the Africa Fashion Week Nigeria (AFWN) 2017 held at the National Theatre in Iganmu, Lagos.

    According to him, the country’s goal is to position the manufacturing industry as a viable sector for boosting the non-oil export sector so as to increase its economic growth.

    The NEPC boss said the government would be achieving this by investing in the textile industry that would serve as the spring board for the resuscitation of the fashion industry.

    Awolowo commended Ronke Ademiluyi, the founder of AFWN for initiating the fashion show that tends to promote African fabrics and designs.

    He advised the exhibitors and designers to improve on their present standards so that their products would be able to compete with their peers internationally.

    “ The fashion industry presents a great opportunity in boosting our country’s export globally.

    “The government recognises these potential in our fashion designers and exhibitors but they need to improve on the values and contents of their products.

    “ Ademiluyi has demonstrated that Nigerians will sustain this initiative in response to the government’s projection going by her activities,” he said.

    Also, the Ooni of Ife, Oba Adeyeye Ogunwusi, advised the government to empower the country’s youths so that they could become self-reliant, self-dependent and self-sustaining.

    Oba Ogunwusi, the patron of AFWN, represented by Chief  Adebanjo Adetinu said that the government could achieve this by identifying and supporting  the creativity potential among youths.

    The traditional ruler said this was projected in the Africa fashion week programmes where fashion designers and exhibitors displayed their talents to the admiration of the guests and visitors.

    Ogunwusi, the grand patron of AFWN, said the artistic creativity of both the models and designers would fill up the vacuum created by unemployment among youths.

    “Such an innovation by Ronke Ademiluyi is filling the vacuum created by unemployment among our youths.

    “She only needs more sponsors to boost the project,” he said.

    Another community leader from Ife, Chief  Babatunde Adetokunbo, advised other fashion promoters to emulate AFWN by  celebrating and boosting the nation’s culture and tradition through their creativity.

    “Our culture is worth celebrating; we should be proud of it.

    “What Ronke is doing is worth emulating, we should display and celebrate our culture, it is unique and I am proud of it,” he said.

  • Export processing facilities will make Nigerian products competitive–Awolowo

    Mr Olusegun Awolowo, the Chief Executive of Nigerian Export Promotion Council (NEPC), has called for the establishment of more export processing terminals in the country.

    He said that the establishment of export processing terminals would make Nigerian goods competitive in the international market.

    Awolowo made the observation in Lagos on Monday at a one-day Business Forum on Export Logistics organised by NEPC in collaboration with Accessport Nigeria Ltd.

    The NEPC chief, who was represented by Mr William Ezeago, Director, Product Development in NEPC, said that the council had resolved to encourage private investors in export and logistic services through Public-Private Partnership.

    Awolowo said this was part of measures being put in place to encourage Nigerians to export their goods and services to the international market within the time frame required and without compromising their quality.

    “This will impact positively on the efforts of the council at diversifying the economy and reducing the cost of doing business.

    “It will also promote non-oil export trades which are in line with the Federal Government’s programme of diversification of the economy and increasing Nigeria’s ranking on Ease of Doing Business Index.

    “This facility will encourage informal exporters to formalise their export businesses as well as assist in the collation of statistical figures for use by government and business concerns,” he said.

    Awolowo commended efforts of Accessport Nig. Ltd. in providing the facility which is domiciled at Lilypond Terminal, Ijora, and Lagos.

    He said this would provide exporters the much-needed export infrastructure needed to execute transactions successfully and efficiently at reduced cost and time, thereby increasing their competitiveness in the international market.

    The NEPC boss said this would also ensure compliance with the current directive of the government to complete all export transactions within 48 hours.

    Awolowo said the forum was a veritable platform for sensitising the various export groups and regulatory agencies on the opportunities available for exporters to handle their business.

    “From the receipt of the export good at the warehouse in the terminal, inspection and documentation procedures to stuffing of containers for final shipment, all will be handled in one location.

    “Undoubtedly, this facility will provide a one-stop shop for export processing and logistic services,” he said.

    Mr Las Alli-Shobande, the Managing Director, Accessport, said statistics showed that over 2.3 million tonnes of non-oil products were exported annually, adding that the figures could only grow with the right logistics.

    He said there was need to support the sector by providing appropriate platforms to enhance seamless logistic services for a sustainable economic growth.

     

  • Nigeria ready for AGOA – NEPC

    Nigeria ready for AGOA – NEPC

    The Nigerian Export Promotion Council (NEPC) on Tuesday said that most Nigerian exporters were fully ready to export to the United States through the African Growth Opportunity Act (AGOA).

    Mr Babatunde Faleke, Lagos Zonal Coordinator, NEPC, made this known while speaking at the Pre-Exhibition Selection Exercise for Non-Oil Exporters, organised by the council in Lagos.

    He said that the exercise was aimed at re-screening exporters of exportable items under the AGOA programme, for the upcoming trade shows in the US.

    “The truth is, most of our exporters are ready for exports under the AGOA programme, with all that we have and the market is there waiting for us.

    “Most of them have been involved in exporting, but some areas like documentation need to be better settled.

    “Here, we have exporters of food items, commodities, finished and unfinished industrial materials like raffia, charcoal whose products are compliant with all the requirements to export to the US.

    “The US market is very large, but under the AGOA, we export duty-free, so it’s worth our stress and that’s what we keep doing here to ensure we record successes,” he said.

    Faleke also said that there were up to 250 products exportable under AGOA, most of which Nigeria had the highest global production capacity in.

    He said that the council had been appealing to the government to revive the Export Expansion Grant (EEG), in order to get more manufacturers into the export net and generate revenue for the country.

    He said that in spite of the readiness of non-oil exporters to export more non-oil export products formally, they are unable to meet up with the demands of the buyers, hence the need for grants.

    Faleke also said that the council would soon kick-off the Nigerian Diaspora Export Programme (NDEX),  which was a major project aimed to establish a ‘Nigerian city’ in most countries of the world.

    The AGOA programme is a United States Trade Act, enacted on May 18, 2000, as Public Law 106 of the 200th Congress. AGOA has since been renewed to 2025.

    The legislation significantly enhances market access to the US for qualifying Sub-Saharan African (SSA) countries.

  • Nigeria’s non-oil export trade under-reported, says Expert

    Mr Shehu Abdulkadir, the Managing Director, Casmine Assayer, an export supervisory firm in Lagos, said Nigeria non-oil export trade was under-reported.

    Abdulkadir told journalists in Lagos that the informal and unreported export trading activities were 50 per cent more than what were reported.

    He said that 90 per cent of Nigerian products rejected abroad were being shipped through other African countries like Ghana and Cameroon where they were being repackaged and shipped abroad.

    He said lack of trust on Nigerian export market led to the rejection of its products abroad, adding that many other nations capitalised on this to repackage the rejected   products and shipped them abroad.

    “The volume of Nigerian export trade across other countries is a lot more than what is being reported.

    “More than 90 percent of agricultural produce, like cassava chips, sesame seeds, and even industrial products like cables, window panes are being exported in mass volumes constantly.

    “The major challenge since Nigerians products were rejected sometimes ago is that some other nations have capitalised on it. “They take items from us, repackage them and label them as their own.

    “This has somehow eroded the trust of the global market, except a few of some international buyers, who are already aware of the quality of our produce,” Abdulkadir said.

    He said that the company had been mandated to effect the pre-shipment inspection for the South-West zone.

    “We are making efforts, in collaboration with the Nigerian Export Promotion Council (NEPC), to educate exporters on the pre-shipment requirements and tricks of the trade to reduce rejection,’’ Abdulkadir said.

    He also encouraged small and medium enterprises to put in more efforts to improve the quality of their packaging, saying that this was a necessary requirement for the success of exportable products.

    NAN reports that Nigeria’s total trade with the European Union (EU), which stood at €39 billion in 2014, accounting for 31 percent of the Nigeria’s total trade, dropped to €29 billion in 2015.

    Many experts said that the volume of non-oil export had reduced in the last few years, while some exporting activities were being done informally.

  • EU intensifies push for Nigeria to endorse EPA deal

    EU intensifies push for Nigeria to endorse EPA deal

    The European Union (EU) has continued its push to get Nigeria endorse the controversial Economic Partnership Agreement (EPA), insisting that with globalization, Nigeria cannot live in isolation as it will hurt her economy.

    The propriety or otherwise of Nigeria signing into the EPA has since pitched manufacturers and other members of the Organised Private Sector (OPS) against the EU, with most of them insisting that signing the agreement as it  is presently will hurt the manufacturing sector and the economy generally.

    But the EU appears unimpressed by such argument and has, therefore, continued its push to get Nigeria ratify the EPA deal. At a dialogue session on Nigeria International Trade Relations organised by the Lagos Chamber of Commerce & Industry (LCCI), last week, Head of Trade & Economics of the EU in Nigeria and West Africa, Fillippo Amato, said Nigeria has nothing to fear as far as EPA is concerned.

    He said the EU has shown goodwill with the release of 12 million euro to support the enhancement of the National Quality Infrastructure, to improve quality, safety, integrity and marketability of Nigerian goods and services.

    He wondered how smaller African countries such as Ghana, Rwanda, Gambia, Cameroun, Mauritania and the Southern African countries have signed on as a result of improved quality of production as against Nigeria with her large population.

    On how Nigeria can tap into the European market, Amato said it is only through the improvement of her production processes.

    Nigeria is already loosing so much by the rejection of beans and other export products to the EU because of the presence of a pesticide known as dichlorvos, which is harmful to health. Amato regretted that more than 70 percent of beans exported to the EU from Nigeria contained pesticide.

    The EU boss, however, stated that that EU is working with the relevant government agencies to address the problem.

    Some of the agencies include the Federal Ministry of Industry, Trade and Investment, United Nations Industrial Development Organisation (UNIDO), Standards Organisation of Nigeria (SON), National Agency for Food, Drug Administration and Control (NAFDAC), Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA), and Nigerian Export Promotion Council (NEPC) among others.

    While noting that there is no short cut to standardization, he said Nigeria must do all within her means to improve on her products both for export and internal consumption. He said the EU has 100 per cent immediate market opening for products from West Africa and 75 per cent gradual market opening over a 20 year period for products from the EU.

    LCCI President Mrs. Nike Akande while denouncing multiple charges on manufacturers by the regulatory agencies urged government on the need for diversification. She stated that no country is fully self-sufficient, urging the government to come out with consistent and sustainable policies on trade relations.

    “Our huge population is a plus for investors. Return on Investment (RoI) is one of the highest globally, but as a country we need to strengthen our competitiveness by creating an enabling environment on the supply side,” Akande said.