Growth in non-oil export hits US$2.970bn — NEPC

on August 28, 2014 / in Business 12:49 am / Comments

By NAOMI UZOR

The Nigerian Export Promotion Council, NEPC, has disclosed that, Nigeria realised $2.970 billion from non-oil export, in 2013 a 15.9 per cent increase over $2.561 in 2012.


Disclosing this at the business meeting tagged” A New Dawn For Nigerian Export” organised by the Nigerian-British Chamber of Commerce, NBCC, the Executive Director/CEO, NEPC, Mr. Olusegun Awolowo, said Nigeria’s export is dominated by oil, but that, there has been steady growth in Non-oil export to $2.970 billion in 2013, a 15.9 per cent increase over $2.561 in 2012.

He said that non-oil export potentials have not been fully exploited despite endowed natural resources solid minerals, agriculture, adding that, some of the challenges are poor infrastructure, energy, finance, skills and capacity.

According to him, the non-oil export challenges in Nigeria are infrastructural deficiency, poor standardisation of products, high cost of production, falsification of documents, weak linkages to chain supply, unwholesome trade practices, and exports dominated by primary products, inability to meet export orders, restricted access to credit and trademark.

He said that for Nigerians to position effectively in the global market, Nigerian goods for export must meet competitiveness standards – identify international benchmarks, invest in skill, technology & innovation, provide conducive and stable Export Policy Environment, intensify PPP collaborations, consult widely with stakeholders,address issues of market failure, partner with Bi-lateral chambers of commerce on export opportunities and promotion, as well as engaging Nigerians in Diaspora, take optimal advantage of trade preference programmes – AGOA and others, export of value added products as against commodities, simplify export procedures and documentations and imbibe E-Commerce culture to reduce cost and time.

Awolowo noted that there is no better time than now to critically address issues that will enhance the development and promotion of Nigeria non-oil exports and that the world is our oyster as opportunities abound to stamp ‘Made in Nigeria Products’ on the global stage.

He said we need to harness our comparative advantage population, natural resources, geo-diversity, adding that, The Bilateral Chambers of Commerce including NBCC has a critical role to play in harnessing the existing potentials for export by achieving world class standards for products and creating jobs and economic growth through value chains.

- See more at: http://www.vanguardngr.com/2014/08/growth-non-oil-export-hits-us2-970bn-nepc/#sthash.SyG3DWfD.dpuf

Impressive. If this trend continues, we may eventually wean ourselves of our thirst for oil. Agriculture is key, Mining of solid minerals has to be intensified in earnest so that the massive gold deposits present in the rich soils of the North down to the South, among other minerals like uranium, can be finally exploited.

www.nairaland.com/attachments/225894_minerals_jpgfff75ecba568893c8f9d959e8b943ef4

we gradually getikg there swiftly.

Good...we are moving away from that cursed liquid that has brought untold hardship to the mass

#fowardnigeria

So if God hasn't given us oil,dis country wouldn't av been able 2 sustain its economy?Its high time we started diverting and looking elsewere rather than concentrating on only crude oil which is now more of a curse 2 us than blessing.Countries like saudi,russia,UAE etc re enjoying the blessings given 2 dem as oil.since we can't make gud use of ours,its beta we start looking elsewere,rather than making the poor poorer and the rich richer through our oil.

how am i surposed to believe this?
I just don't trust anyone.

I still hope its true. but what do we actually export?

Sounds good

thats a way forward..... if na true o

Yawning..

As if the proceeds from them won't do an abracadabra stunt and disappear into thin air..

#Abeg

Good. It's about time we stopped relying much on oil. Diversification is key. Just as a person cannot develop healthily by feeding on only one nutrient, so also an economy cannot fully develop to self-sustaining levels by only relying on one sector. .

.

Na so so big money we dey see, he no reflect for our body

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LONG LIVE GEJ
our very own Mandela

FANTASTIC NEWS, THE FRESH AIR IS BLOWING, SOON WE WILL BE ABLE TO SURVIVE WITHOUT THIS OIL. AS THE MANUFACTURING SECTOR AND THE AGRICULTURAL SECTOR S PICKING UP,

ALL I CAN SAY IS GEJ TILL 2019.

#GEJISM

Finally our government is leaving oil and investing in oder mineral resources . I don't why know why our government have been so focused on oil like it is the only natural resources we have in Nigeria when we have a lot of mineral resources that can also bring enough money like oil into this country.

Rawani: Impressive. If this trend continues, we may eventually wean ourselves of our thirst for oil. Agriculture is key, mining of solid minerals has to be intensified in earnest so that the massive gold deposits present in the rich soils of the North down to the South, among other minerals like uranium, can be finally exploited.

www.nairaland.com/attachments/225894_minerals_jpgfff75ecba568893c8f9d959e8b943ef4

For how long shall we continue to hear about these imaginary solid minerals in the north?

Sounds pretty cool............................

last to comment....

WATCH AS THE APC e-rats AVOID THIS THREAD.........

Rubbish

hmmmm...pictures of the funds receipt or................

Fresher air...

Good development.
Nigeria scavenging on oil since 1964

collynzo2:
For how long shall we continue to hear about these imaginary solid minerals in the north?

Actually,they exist. The problem is that much of the mining is done by non-professionals, and by professionals on a small scale.(which makes it difficult to collect taxes).

What needs to be done is to get large scale mining firms to invest.

Solid minerals & other agricultural exports if well exploited could bring in high profit to the nation as much as oil. We haven't started at all.

only one thing is permitted

Good news....but what would be better news is that heavy industrial output is increasing.

CharlieMaria: .

CharlieMaria: .

tlanry: .

CharlieMaria: .

you see yourself?? Early in the morning

Moving towards a better nigeria, but not all ds news dt doesn't translate to d common man.... Abeg saunch me beta tori jare