Sunday, May 20, 2018

China Swap Deal: A Minus For Nigerian Exporters


Many have seen the Swap deal with China as a great progress and I wonder why. Some are even saying that it would make us to buy products from China at cheaper rate that is more than 50% and this is a big lie. It is not as cheap as it is painted. It simply means that we will reduce some cross rate charges but not 5times as it is claimed in some quarters.

The rate of the swap is actually about N48 because we swapped $2.35 billion (N720billion) for CNY15billion. So clearly, the conclusion of some writers are exaggerated. This is because when a Chinese says his goods is CNY1000 that is about NGN48,000 according to the new rate based on the swap. 

This same product at the usual or current rate will be quoted by the same Chinese at the rate of USD156.78. If you convert this to Naira it is N56,483. So what we are saving which is not bad in itself is N56 - N48 which N8.

I don't think this is serious progress to trade for Nigerian that is worth celebrating because a number of African countries have signed this kind of deals ahead of us. Moreover, it is not favorable for export because if I export to China and I am paid in Yuan at this rate, I am loosing N8 for every dollar. Obviously, many exporters to China will be sticking to the use of USD for the their export transactions.

Finally, I will like to appeal to the Federal Government and the Central Bank of Nigeria (CBN) that we should begin to sign deals that will help us to grow our export by making it more attractive in order to become an export (especially non-oil export) oriented economy and not perpetuate the current status of over dependent on Import.

This is my humble submission on the much talked about swap deal of the CBN.

Bamidele Ayemibo
bayemibo@3timpex.com

Tuesday, May 15, 2018

Export Digest Newsletter - Nigeria Can Survive Without Oil

Dear Readers,

Please find below Nigeria's Foremost Trade Newsletter - Export Digest

In This Week's Edition of Export Digest Newsletter - Nigeria Can Survive Without Oil

To read the full details of this edition of Export Digest, Click Here
​​​​​​​​​To read the full details of this edition of Export Digest, Click Here


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Tuesday, May 8, 2018

Export Digest Newsletter - Government Targets e-commerce to Boost Non-Oil Export

Dear Readers,

Please find below Nigeria's Foremost Trade Newsletter - Export Digest

In This Week's Edition of Export Digest Newsletter - Government Targets e-commerce to Boost Non-Oil Export

To read the full details of this edition of Export Digest, Click Here
​​​​​​​​​To read the full details of this edition of Export Digest, Click Here

Click Here To Download the App From Google Play Store....3T Impex Mobile App ....... Learning Trade The Smart Way 

Thursday, May 3, 2018

Export Digest Newsletter - Nigeria Unofficially Exporting $40bn Goods Annually.

Dear Readers,

Please find below Nigeria's Foremost Trade Newsletter - Export Digest

In This Week's Edition of Export Digest Newsletter - Nigeria Unofficially Exporting $40bn Goods Annually.

To read the full details of this edition of Export Digest, Click Here

​​​​​​​​To read the full details of this edition of Export Digest, Click Here

Click Here To Download the App From Google Play Store.... 3T Impex Mobile App ....... Learning Trade The Smart Way 

Tuesday, April 24, 2018

Export Digest Newsletter - Nigeria Records Paltry $9m of Africa's $2.7b Non-Oil Export to US

Please find below Nigeria's Foremost Trade Newsletter - Export Digest

In This Week's Edition of Export Digest Newsletter - Nigeria Records Paltry $9m of Africa's $2.7b Non-Oil Export to US

To read the full details of this edition of Export Digest, Click Here
​​​​​​​​​To read the full details of this edition of Export Digest, Click Here

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Click Here To Download the App From Google Play Store........3T Impex Mobile App ....... Learning Trade The Smart Way 

Monday, April 16, 2018

Export Digest Newsletter - Diploma in Export: 3T Impex Commences Admission for Second Batch

Good Day Sir/Ma,

Please find below Nigeria's Foremost Trade Newsletter - Export Digest

In This Week's Edition of Export Digest Newsletter - Diploma in Export: 3T Impex Commences Admission for Second Batch

To read the full details of this edition of Export Digest, Click Here
​​​​​​To read the full details of this edition of Export Digest, Click Here

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Click Here To Download the App From Google Play Store.....3T Impex Mobile App ....... Learning Trade The Smart Way 

Thursday, April 12, 2018

Diploma In Export: 3T Impex Commences Admission For Batch-2


The management of 3T Impex Trade Academy has announced that the admission process for the second batch of its Diploma programme has commenced. This Diploma programme is first of its kind on the African soil and it is in conjunction with the American Institutes of Extended studies. The programme has two options which include Executive Diploma in Export Business Management and Executive Diploma in Export Trade Finance.

The first batch of the programme started in February 2018 with 13 candidates which are from different sectors of the economy including Banking, Manufacturing and Agricultural and Solid Mineral Sectors. The first batch will conclude their programme by July ending of this year while the second batch will be starting their programme from the first week of June 2018.

The classes hold on Saturday at the 3T Impex Trade Centre in Surulere from 8am and last for about 3hours. The programme is divided into three modules with each module lasting for a period of two months with an end course test.

Knowing fully well that export is the future of Nigeria, the management of 3T Impex has designed this programme to create on one hand, a pool of export trade professionals to manage the budding and established export businesses in Nigeria and on the other hand to develop highly skilled trade professionals that will be structuring export trade finance in different financial institution in Nigeria.

If you are thinking of growing your career in international trade, this is a unique opportunity to get an international certificate to justify your qualification after the training programme and open up your career for great opportunities al over the world.

To get more information or download the application form, please visit www.3timpex.com/diploma/ or call 08091244449