Post by Trade Coach on Jun 30, 2014 22:44:25 GMT 1
Thirteen outings spearheaded by the Nigerian Export Promotion Council (NEPC) in 2013 generated on-the-spot orders of $3.717 million as well as sales of $627,108 for 126 participating companies, mainly small- and medium-scale manufacturers. As of February 2014, the executed orders reported to the council reached $763,247, Real Sector Watch has gathered.
Olusegun Awolowo, executive director/CEO, NEPC, disclosed this during the ‘Export Market Penetration Strategy’ seminar organised by the council last Thursday in Lagos.
According to him, the NEPC had continued to provide a platform for penetrating target international markets with made-in-Nigeria products through international trade fairs and exhibitions held every year, adding that the activity of the council had succeeded in exposing Nigerian firms and organisations to these markets, while opening up contacts that yielded huge dividends to them.
“It is also on record that made-in-Nigeria products, especially in West African sub-region, elicit great demand as customers marvel at the quality of the products and wonder if they were ever produced in Nigeria,’’ he said.
Awolowo added that a number of indigenous SMEs introduced to the market last year, especially those in the foods and condiments, were already having a field day in Togo and Ghana, among others, stating that exporters must have in-depth knowledge of market entry strategies if they must maintain strong footholds in such markets.
He lamented that contacts with exporters had revealed that a large number of them never bothered to seek information on market access approaches as they often went about it on trial and error bases, resulting in unpalatable consequences.
The NEPC boss further disclosed that the ‘Lome Trade Hub’ initiative, which began with the staging of a solo exhibition in Togo last year, and was followed with the country’s participation at the 11th Lome International Trade Fair, had yielded much benefit as many Nigerian participants now had their representatives there, while the Togolese authorities had allocated spaces at their Trade Fair Complex to the country.
Source: BUSINESS DAY
Olusegun Awolowo, executive director/CEO, NEPC, disclosed this during the ‘Export Market Penetration Strategy’ seminar organised by the council last Thursday in Lagos.
According to him, the NEPC had continued to provide a platform for penetrating target international markets with made-in-Nigeria products through international trade fairs and exhibitions held every year, adding that the activity of the council had succeeded in exposing Nigerian firms and organisations to these markets, while opening up contacts that yielded huge dividends to them.
“It is also on record that made-in-Nigeria products, especially in West African sub-region, elicit great demand as customers marvel at the quality of the products and wonder if they were ever produced in Nigeria,’’ he said.
Awolowo added that a number of indigenous SMEs introduced to the market last year, especially those in the foods and condiments, were already having a field day in Togo and Ghana, among others, stating that exporters must have in-depth knowledge of market entry strategies if they must maintain strong footholds in such markets.
He lamented that contacts with exporters had revealed that a large number of them never bothered to seek information on market access approaches as they often went about it on trial and error bases, resulting in unpalatable consequences.
The NEPC boss further disclosed that the ‘Lome Trade Hub’ initiative, which began with the staging of a solo exhibition in Togo last year, and was followed with the country’s participation at the 11th Lome International Trade Fair, had yielded much benefit as many Nigerian participants now had their representatives there, while the Togolese authorities had allocated spaces at their Trade Fair Complex to the country.
Source: BUSINESS DAY
