Sunday, September 6, 2015

NEPC Advises Exporters Of Non-oil Products

The Nigerian Export Promotion Council has said that many non-oil product exporters in the country are losing huge amounts of their investment because they lack the basic knowledge needed to move along the trade pathway.

During the opening ceremony of a seminar organised by the council on the opportunities in non-oil exports and market penetration strategy in Ibadan, the Zonal Controller, Lagos office, NEPC, George Enyiekpon, said many investors were being forced to quit because of the complex nature of the global market and the competitive trade arena where players employed sophisticated strategies to penetrate and sustain the market.

He said, “From our records, many genuine exporters have burnt their fingers in the process of attempting to export non-oil products due to lack of authentic information and guidelines to lead them through the export trade pathway. Such experiences have resulted in unpalatable consequences, thus impeding on the effort to strive for further export market share for their products.

“We should also note that market strategies are sustained through concerted effort of the exporters to understand the fundamental element of information anchored on knowledge of the products requirement and export procedure and documentation.”

The Head of Department, Trade Information, NEPC, Mrs. Fransisca Odega, told participants that there were many benefits in non-oil export, adding that demand for products like wooden floor tiles, natural rubber, yam flour, spices, cocoa, ginger, seafood and other processed foods from Nigeria were on the increase in Europe, United States and parts of Asia.

She, however, warned exporters to beware of demands from fraudulent foreign companies and individuals who tempt them with advance payments.

“We have foreigners who trick Nigerian exporters to bring their products to Europe and the US at 20 per cent initial payment, but on getting there, they claim that the products are sub-standard and that no further payment will be made. The cost of litigation often forces the exporters to accept the losses and return home,” she said.

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