According to the Nigerian Export Promotion Council (NEPC), the Ministry of Industry, Trade and Investment has established a committee made up of the NEPC and other regulatory authorities to assure Nigeria’s removal from the EU’s limitation list.
Dr. Ezra Yakusah, NEPC’s Executive Director and Chief Executive Officer, said the committee, which has less than two months to go, was specifically set up to make recommendations on how to remove Nigerian products from the EU list, on the sidelines of the organization’s advocacy program on export trade house in Cairo, Egypt.
According to him, the Council is also taking proactive steps to ensure that certain of these products are exempt from EU regulations by ensuring that they match EU specifications.
“Sometimes the issue is caused by inadequate packing and a lack of mandatory or optional certifications,” he says. As a result, we decided to rise to the occasion by implementing our “go global, go for certification” campaign to provide free training to over 150 SMEs. We want to make sure that these products don’t end up on the EU’s banned list.
He explained that the Council formed the Export Trade House (ETH) as part of a Public Private Partnership (PPP) agreement to help the country’s non-oil export base develop and diversify.
The ETH, he explained, is a Council initiative to provide a central site where Made-in-Nigeria items may be delivered, showcased, and disseminated to all areas of the world.
“As a result, this is in keeping with the concept of a trading house that purchases and sells products for other businesses utilizing their international knowledge, as is the case in China, Switzerland, the United States, Singapore, and the United Kingdom,” he added.
Businesses who employ trade houses, he claims, can gain access to vendor financing through loans and credits, as well as benefit from their experience and insight into the worldwide marketplaces they operate in.
“The initiative is one of the Council’s facilities aimed at expanding Nigeria’s global market share,” he added. This is forced even more by the necessity for active marketing in order to boost production, expand, and support economic growth through non-oil exports. It’s also a way of dealing with the ever-increasing problem of declining oil revenue as the globe shifts away from oil and toward other energy sources like electricity for cars and solar power.”
He emphasized that the Council had adopted the ETH idea to boost non-oil exports and maximize the benefits of the African Continental Free Trade Area agreement (AfCFTA).
He stated that the Council plans to open Export Trade Houses in many locations throughout the world, including Cairo, Egypt, Nairobi, Kenya, and Johannesburg, South Africa.
“Hunan, China, Ottawa, Canada, Saudi Arabia, and Lome, Togo are among the others.” These are intended to encompass Nigeria’s export activity in various parts of the world,” he explained.
The ETH was launched on March 21, 2022 in Sadat City, according to the NEPC boss, and is expected to improve value addition on Nigerian exports of products through cleaning, processing, distribution, and marketing, resulting in economies of scale, an international foothold in finding new customers, and currency risk management.
The ETHs’ goals, according to him, are to improve the visibility of made-in-Nigeria products outside of Nigeria’s borders, lower the cost of logistics for Nigerian SMEs, and increase Nigeria’s share of targeted markets.
He also stated that the ETHs would provide jobs for the country’s teeming youngsters and increase foreign exchange inflows.
Mr. Mousallati Ghazwan, the Chief Executive Officer of Agriverdi, also spoke about the lack of transparency, marketing, and reach between local suppliers and end users in today’s commodity exchanges in Nigeria and around the world.
According to him, a lack of transparency produces uncertainty, which leads to pricing and supply confusion, as well as excess or under supply to foreign markets.
He stressed the importance of good collaborations between local and international partners when proposing solutions to the problem.
He explained that the ETH was created to make the economic cycle of all Nigerian agro commodities such as sesame, hibiscus, peanuts, cashew, soya seeds, ginger, and others easier.