Post by Trade facilitator on Sept 19, 2012 22:24:52 GMT 1
The Nigerian Export Promotion Council has said that the country exported non-oil products valued at $1.35bn for the first half of 2012.
The Executive Director, NEPC, Mr. David Adulugba, made this known in an interview with the News Agency of Nigeria in Abuja on Thursday.
Adulugba, however, said the figure represented about 10 per cent decline from the $1.50bn recorded in the same period in 2011.
The NEPC boss attributed the decline to unrecorded exports, the fuel crisis and workers’ strike in January.
He put the value of non-oil export for the first and second quarters of the year at $660.1m and $686.2m respectively as against $818.8m and $676.2m recorded for the same period in 2012.
The executive director said Nigeria exported goods worth $161.6 m in January compared as against $307.2 m in 2011.
Adulugba said the nation exported non-oil products worth $242.9m in February 2012 compared to $273.6m recorded in the same period in 2011.
He also said that Nigeria exported non-oil products worth $255.7m and $220.6m in March and April this year compared as against $237.9 m and $250.6m recorded for 2011.
He said the country’s non-oil exports in May and June 2012 were $242.6m and $223.1m, respectively compared to $703.5m and $222 m recorded in the same period in 2011.
According to Adulugba, the bulk of the exported products are cocoa and cocoa preparations, oil seeds, sesame seeds, edible fruits, nuts, citrus, tobacco, fish, shrimps and gum Arabic.
Others included recharge cards, cosmetics, footwear, textiles, confectioneries, insecticides, plastics, empty bottles, electric cables, food, beverages and noodles.
He expressed optimism that the agency would achieve its 40 per cent target for non- oil export products before the end of the year in line with the key performance indicators.
“At the moment, we are working assiduously to translate where we were at $2.8bn per annum to 40 per cent ($3.92bn). All sorts of strategies will be adopted to achieve the target within the regional market.’’
He noted with concern that the high incidence of unrecorded exports had been a major challenge to accurate reporting of the performance of the non-oil sector in the country.
To address the challenge, Adulugba said the Federal Ministry of Trade and Investment was making moves to establish border markets at some strategic locations.
He pointed out that the country’s non-oil exports were dominated by raw commodities and few products with value addition.
“There is the need to step up the value chain, diversify from commodities and empower the small and medium scale enterprises through entrepreneurship development.”
Source: www.punchng.com/business/capital-market/1-35bn-non-oil-products-exported-in-six-months-nepc/
The Executive Director, NEPC, Mr. David Adulugba, made this known in an interview with the News Agency of Nigeria in Abuja on Thursday.
Adulugba, however, said the figure represented about 10 per cent decline from the $1.50bn recorded in the same period in 2011.
The NEPC boss attributed the decline to unrecorded exports, the fuel crisis and workers’ strike in January.
He put the value of non-oil export for the first and second quarters of the year at $660.1m and $686.2m respectively as against $818.8m and $676.2m recorded for the same period in 2012.
The executive director said Nigeria exported goods worth $161.6 m in January compared as against $307.2 m in 2011.
Adulugba said the nation exported non-oil products worth $242.9m in February 2012 compared to $273.6m recorded in the same period in 2011.
He also said that Nigeria exported non-oil products worth $255.7m and $220.6m in March and April this year compared as against $237.9 m and $250.6m recorded for 2011.
He said the country’s non-oil exports in May and June 2012 were $242.6m and $223.1m, respectively compared to $703.5m and $222 m recorded in the same period in 2011.
According to Adulugba, the bulk of the exported products are cocoa and cocoa preparations, oil seeds, sesame seeds, edible fruits, nuts, citrus, tobacco, fish, shrimps and gum Arabic.
Others included recharge cards, cosmetics, footwear, textiles, confectioneries, insecticides, plastics, empty bottles, electric cables, food, beverages and noodles.
He expressed optimism that the agency would achieve its 40 per cent target for non- oil export products before the end of the year in line with the key performance indicators.
“At the moment, we are working assiduously to translate where we were at $2.8bn per annum to 40 per cent ($3.92bn). All sorts of strategies will be adopted to achieve the target within the regional market.’’
He noted with concern that the high incidence of unrecorded exports had been a major challenge to accurate reporting of the performance of the non-oil sector in the country.
To address the challenge, Adulugba said the Federal Ministry of Trade and Investment was making moves to establish border markets at some strategic locations.
He pointed out that the country’s non-oil exports were dominated by raw commodities and few products with value addition.
“There is the need to step up the value chain, diversify from commodities and empower the small and medium scale enterprises through entrepreneurship development.”
Source: www.punchng.com/business/capital-market/1-35bn-non-oil-products-exported-in-six-months-nepc/
