Posts published in “Export”

The Federal Government 0f Nigeria on Sunday put the country’s earnings from the export of cashew at $500m and stated that this was supporting about 500,000 families across the country.

Minister of Agriculture and Rural Development, Sabo Nanono, disclosed this in Abuja when he signed a Memorandum of Understanding with the United States Department of Agriculture West Africa PRO-Cashew Project.

The Federal Ministry of Agriculture and Rural Development said in a statement issued in Abuja by an officer in the press department, Okeh Juliet, that the project would be for the development of the cashew agro industry.

CBN latest monthly economic report disclosed that Top 10 exporters in the country exported non-oil goods worth $100.88m in November, according to the Central Bank of Nigeria.

Part of the report read, “Estimates of export proceeds of the top 10 non-oil exporters for November 2020 was $100.88m.

Nigerian Sesame Seed Gets International Certification

The chief executive officer of the Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo has expressed delight over the attainment of Global Organic Certification status for Nigerian sesame seed by WACOT Nigeria from ECOCERT International.

He disclosed this in his Abuja office when he hosted the National Sesame Seeds Association of Nigeria (NSSAN) led by the president, Mr Sheriff Balogun and his deputy, Mr Sadiq Kassim.

Top 10 Nigeria traders earned $100.88m from non-oil goods exported in one month according to latest figures obtained from the Central Bank of Nigeria.

Most of the exports were agriculture produce such as cocoa beans, cashew nuts, and sesame among others.

Nigeria House of Representatives has asked the Central Bank of Nigeria and the management of the Nigeria Customs Service to fast-track the automation of export processing at the port to avoid delays which has resulted in huge loss of revenue to the government.

Chairman of the Technical Committee of the House Committee on Customs and Excise, Hon. Leke Abejide, who made the call when he led members of the committee on an oversight to the Area 2 Customs Command at Onne, Rivers State, said the lack of automation of the process had slowed down export activities.

The pre-export requirements recently introduced by the Central Bank of Nigeria (CBN) is currently frustrating the export of goods from Nigeria to other nations, exporters declared on Wednesday.

Speaking under the aegis of the Network of Practicing Non-oil Exporters of Nigeria, they stated that the electronic Nigeria Export Proceed Form being required by the bank from exporters had come with enormous bottlenecks.

The President, NPNEN, Ahmed Rabiu, said in a statement issued in Abuja that the new procedure had so many layers of activities that often led to delays and loss of income on the part of exporters.

The Federal Government of Nigeria on Thursday inaugurated the steering committee for the implementation of the Export Expansion Facility.

According to the Minister of Industry, Trade and Investment, Adeniyi Adebayo, who inaugurated the committee in Abuja, also warned that if Nigeria failed to grow its non-oil exports, the economy would remain vulnerable to external shocks.

He was quoted in a statement issued in Abuja by his media aide, Ifedayo Sayo, as saying, “Export growth is at the centre of our strategy for diversifying Nigeria’s sources of foreign exchange and reducing the vulnerability of the economy to external shocks.

The top 10 exporters in Nigeria exported $57.74m goods in August 2020, according to the Central Bank of Nigeria.

This was, however, a reduction from the N74.78m worth of goods exported in July, the CBN’s monthly report showed.

Yam Flour popularly known as Elubo/Amala is an important staple food processed from Yam tubers and widely consumed by many in the South West and other parts of Nigeria due to its high fibre, carbohydrate and vitamin B6 content.

Yam Flour is mostly prepared into dough or “Amala” as it is popularly called by the Yoruba people of Nigeria and consumed with a delicious Ewedu, Egusi, Ogbono or Gbegiri soup at home and in restaurants.

The recent statistical report released by the National Bureau of Statistics on foreign trade shows that Nigerian farmers exported goods worth N60.5billion in the third quarter of 2020.

According to NBS figures, the total trade in agricultural goods during the quarter, stood at N563.9bn.