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.
http://www.punchng.com/business/industry/nepc-advises-exporters-of-non-oil-products/
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