The Nigerian Export Promotion Council has said that now that crude oil prices are dropping in the global market, non-oil exports seem to hold promises for the nation’s future.
The Executive Director, NEPC, Segun Awolowo, said this in Lagos at a export readiness capacity building workshop.
He was represented by the Regional Coordinator, NEPC, South-West, Samuel Oyeyipo.
Awolowo said that non-oil exports were increasingly becoming important to the economic development of Nigeria, adding that it was expedient for deliberate efforts to be made to increase non-oil exports.
He, however, stated that for exporters to compete at the global level, they must adhere strictly to procedures and documentation in that line.
He said, “Non-oil export is increasingly becoming important to the economic development of Nigeria. It is therefore imperative to understand that without deliberate and concerted efforts to increase non-oil export, especially now that crude oil is facing diverse challenges, the future of Nigerian economy might be unpredictable.”
He said it was as a result of this that the council had been building the capacity of both active and potential exporters through intervention programmes.
Awolowo added that the programmes had gone a long way to address significant factors necessary for accessing the international market.
He said, “The objective of this workshop among others is to inculcate in the prospective and active exporters the essence of adherence to procedures and documentation, quality issues, costing and pricing for export, payment methods and market access for Nigerian products.”
“Our exporters needed to be trained in how to understand the procedures and documentations required for non-oil exports.”
He explained that a good product without documentation would not be acceptable at the international market.
Awolowo said there was a need to expose the exporters to what a good documentation should look like in practical terms, so that they could understand what was required of them when going into export business.
The Executive Director, Lakinberg LLC, Olugbemiga Ojo, while making his presentation, said the programme was about exposing exporters to opportunities in international trade, stressing that export trade was the greatest means for revenue generation in every nation of the world.
He said, “We are here to offer them international trade consultancy by helping them with contracts and documentation, because we are trade lawyers and beyond that, we help to secure payments.
“Exporters are faced with different challenges ranging from transactional challenges to the terms and conditions, complying with international laws. Exporters must scale through these regulatory bottlenecks to benefit from international trade.”
He advised exporters to follow due process to enjoy the full benefit of export trade.