VOLUME 3 ISSUE 15

Export News:

Chocolate on Track to go

Extinct in 40 Years

- 1

Export Programme:

Export Business

Clinic and More

- 2

Export Education:

Handling the 5Ps of

Export Business Success

- The Purchasers

- 3

Export Training Products:

Export Pro and More

- 3

Export Miscellaneous:

Commodity Prices,

Infographs and Lots

More

- 3 & 4

The Acting Executive Director/CEO of the Council, Abdullahi Sidi-Aliyu, disclosed this during a one-day training and demonstration on processing techniques for high-quality cocoa beans in Akure, the Ondo State capital. The training was organized by Ondo State Cocoa Revolution Project.Represented by NEPC Acting Director, Akintunde Folorunso, said the huge revenue was capable of attracting global players such as Nestle to transform the sector through forward integration into global value chains.According to him, value chain development in the cocoa sector has great prospects in the export markets. He sought more partners and collaborators to get Nigeria to move above Cote d'Ivoire and Ghana.The NEPC chief reassured that the Federal Government was strongly committed to the development of the non-oil export sector as the last defense of the economy.Excerpt: Pulse.ng

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Cocoa plants are slated to disappear by as early as 2050 thanks to warmer temperatures and dryer weather conditions.Scientists at the University of California are teaming up with Mars company to try to save the crop before it is too late.They are exploring the possibility of using the gene-editing technology CRISPR to make crops that can survive the new challenges.Beyond the glittery glass-and- sandstone walls of the University of California's new biosciences building, rows of tiny green cacao seedlings in refrigerated greenhouses await judgment day.Under the watchful eye of Myeong-Je Cho, the director of plant genomics at an institute that is working with food and candy company Mars, the plants will be transformed. If all goes well, these tiny seedlings will soon be capable of surviving — and thriving — in the dryer, warmer climate that is sending chills through the spines of farmers across the globe.Its all thanks to a new technology called CRISPR, which allows for tiny, precise tweaks to DNA that were never possible before. These tweaks are already being used to make crops cheaper and more reliable. But their most important use may be in the developing world, where many of the plants that people rely on to avoid starvation are threatened by the impacts of climate change, including more pests and a lack of water.

Excerpt: WEF

Top NewsChocolate is on Track to go Extinct in 40 Year

NEPC, LCCI Move to Ease Nigeria’s Export Within ECOWAS

Nigeria Could Earn $1.3 BillionAnnually from Cocoa

Dangote Canvasses Establishment of Mineral Buying Centres to Boost Mining

Naira as Trade Currency

Ethiopia: Ministry to Export Natural Gas by 2020

Chocolate is on Track togo Extinct in 40 Years

Nigerian Export Promotion Council, Lagos Chamber of Commerce and Industry and regulatory agencies in the export sector such as the Nigeria Customs Service, the National Agency for Food and Drug Administration and Control have formed a committee with the aim of facilitating movement of Nigerian goods through markets in the Economic Community of West African States.During the inauguration of the committee tagged 'Nigeria ECOWAS Export Development', the stakeholders noted that the West African sub-region was a huge market with huge potential for growth if well harnessed by member states.According to the committee, the potential of export from Nigeria into the ECOWAS region can be seen in the items of import into the region from Asia, America and Europe. It listed the top 10 products being imported into the region from different parts of the world to include fuels, motor vehicles, tractors, cycles, and other vehicles, machinery, mechanical appliances and boilers, cereals, plastics, iron work, pharmaceuticals, fish and seafood.Excerpt: The Punch

Nigeria Could Earn Annually$1.3 Billion

from Cocoa

NEPC-LCCI Moves toEase Nigeria’s Export

Within ECOWAS

Page 2. VOLUME 3 ISSUE 15

OTHERHEADLINES

FG Trains Cocoa Farmers

on Processing Techniques

in Ondo

- Daily Trust

Nigeria Exports N97.24bn

Liquefied Gas to Asia

- New Telegraph

Nigeria: Export Barge Yet to Arrive

Apapa Port in 10 Days

After Flag-Off

- Allafrica

Japan’s Export Growth is

Pointing to a Continued

Recovery

- CNBC

oThis scheme we were told would be restricted to dealings with UK businesses that have given their consent to accept payment in Naira effectively underwriting the exchange risks inherent is suchtransactions.The maximum funding by way of guarantee that could be attracted under the scheme is 85% of project costs and the only condition precedent is that the transaction would have a minimum 20% British content. It was also indicated that a sum of 750 million Pounds Sterling had been earmarked by UKEF for the takeoff of the scheme. And opinion has been canvassed that with guaranteed long tenure credits at low interest rates for quality British products and Services makes this proposition very competitive and attractive.Excerpt: The Guardian

ADDIS ABABA - Ministry of Mines, Petroleum and Natural Gas announced that it is set to install a pipeline from Somali State to Djibouti in order to export natural gas by 2020.In 1980's a natural gas (naphtha, kerosene and benzene) reserve of some six billion cubic feet has been found in Calub Hilala in Somali state of Ethiopia, Bacha Faji Ministry Public Relations Director told The Ethiopian Herald.The ministry has reached agreement with Poly GCL, a Chinese mining company to develop the natural gas and build infrastructure including the pipeline from Calub Hilala to Djibouti this fiscal year, he said.Besides generating one billion USD per annum from export, the natural gas would also serve to meet local demand with fair price, he expressed.According to him, international mining companies have been dispatched to Abey gorge and Tekeze and Gambella basins and other parts of the country to discover additional mines. Some 124 mining companies are searching for mines in different parts of the country. Excerpt: Allafrica

President of Dangote Group, Alh. Aliko Dangote, has advised the Federal Government to facilitate the establishment of mineral buying centres and lapidaries to boost investments in solid minerals.Speaking at the just concluded Kogi State Economic Summit in Lokoja, he said the absence of solid mineral buying centres and lapidaries had enabled the flourishing of cartels who engage in illegal sale of minerals out of the country, with resultant loss of solid minerals revenue from taxes and royalties. Dangote who was represented at the summit themed: 'Discover uncommon Investment Opportunities in the Confluence' by Engr. Joseph Makoju, the Acting Group Managing Director of Dangote Cement Plc, said as a matter of urgency, the government should establish various mineral buying centres and lapidaries across the relevant zones in the country as such step would encourage the artisanal miners to sell minerals in-country, and production could be monitored for taxes and royalty collection. He reasoned that each state of the federation should be encouraged to invest in domiciled solid minerals either as sole investor or in collaboration with private investors, with revenues accruing entirely to the state, and taxes and royalties accruing to the Federal Government.According to him, Nigeria ought to be reaping more from her mineral deposits than currently doing, while noting that significant evidence showed that Nigeria had over 34 different solid minerals distributing in Nigeria.Excerpt: The Independent

Unexpectedly the cheering news filtered in as the United Kingdom announced its preparedness to include the Naira as one of three currencies in West Africa to be accepted for trade transactions by the British Government. Specifically this information was released by no other than Paul Arkwright, the British High Commissioner to Nigeria.He explained that the UK Export Finance (UKEF) will now be able to provide loan guarantees through local banks in Naira to support Nigerian businesses procuring goods and services from the UK as a practical measure to underwrite increased business between the two countries.

Dangote CanvassesEstablishment of MineralBuying Centres to Boost

Mining

Naira As Currency

Ethiopia: Ministry toExport Natural Gas by 2020

Page 3.

Free Export LicenceFree subscription to join African Export DevelopmentInitiative (AFED)Guaranteed Contracts for Export (T&C Apply)Export Mentoring Program with 20% discount Free Export Book & Advisory Service.

BENEFITS

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EXPORTBUSINESSCLINIC

TRAININGFEE

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Days & Time 9amWeekdays -

January 23-24, 2017Date -

Venue: 3T Impex Trade Center 11D Bola Shadipe StreetAddress:

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Weekend - 9am

January 14 & 21, 2017 Date -

VOLUME 3 ISSUE 15

Export TrainingProducts

ExportMiscellaneous:

EXPORT ORDERS

LOCAL ORDERS

COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG)

S/N

S/N

PRODUCT

COMMODITY

SPECIFICATION

PRICES

MINIMUM SHIPMENT

UNIT OF MEASUREMENT

1.

2.

3.

1.

2.

3.

4.

5.

6.

7.

PRODUCT SPECIFICATION PAYMENT MONTHLY VOLUME

Zinc Ore Purity 35% 60MT Per Month

120MT Per Month

60MT Per Month

121MT Per Month

60MT Per Month

122MT Per Month

Purity 60%

Purity 30%Lead Ore

Lead Oxide

Zinc Ore

Lead Ore

Lead Oxide

Purity 35%

Purity 60%

Purity 30%Bank Guarantee

Bank Guarantee

Bank Guarantee

Lead Metric Tonne

Zinc

Cocoa Beans

Copper

Tin

Alluminium Bushel

Cotton Pounds

Metric Tonne

Metric Tonne

Metric Tonne

Metric Tonne

USD 2,524.00

USD 3,524.00

USD 2,176.00

USD 7,032.00

USD 21,7650.00

USD 2,194.00

USD 80.47

Free on Board (FOB) Cost and Freight (CFR). However, if you have a higher power in the negotiation, then you can go for EXW or FCA.The last in the series of questions to be answered as an exporter seeks for purchasers is how can one secure an export contract from buyers abroad? Having been able to get a link to a buyer, how them do you eventually secure the contract? You need to demonstrate credibility (your consistency of result in export business or other businesses that you have done), cohort (the experience of the team working with you), competence (to deliver the right quality and quantity), character (that you will abide by what will be signed in the agreement) and cash (that the cash to do he business is available or will be made available as at when needed). These are traits that you must have and also find a way to communicate in all your conversation with the intending buyers.

Finally, I will like to state that if the challenge of getting purchasers are going to be surmounted by an exporter, then the seven questions posed in this edition of export matters have to be adequately answered.

For questions on this thought, you can reach me via

email to bayemibo@3timpex.com

delivery which is also called the Incoterms. These are international commercial terms that defines the where the risks and costs of the exporter ends and where that of the importer starts. It is wiser for the exporter to choose the terms that is first reasonable and also enables the exporters to incur minimal cost with his risk ending on or before the port of loading. Reasonable in the sense that it does not requires the importer to come and pickup the goods at your warehouse in Nigeria (Ex-Works-EXW) or a shipping line terminal (Free Carrier-FCA) when a lot of your competitors are willing to deliver to the port. Largely in Nigeria, many deliver to the port using

The fifth question to be answered is, why does an exporter needs to sign an export contract? Why can't he just get a proforma invoice and base on this ship the goods? It is very important that things do go wrong in international trade and the only way to seek a redress and get a judgment in your favour if the other party have erred is through a contract that both of you have signed. If there is no binding agreement showing the roles and responsibilities of the parties then it will be difficult to hold the erring party to account when things go wrong.The second to the last question is, which contract terms are most preferred? This means the terms of

Title:

Export Pro

Speaker: Bamidele Ayemibo

Price: N 50,000

S/N

1.

2.

3.

Handling the Critical 5Ps

of Export Business Success

- The Purchasers

Cont'd from last issue

Title:

Import Business Made Easy

Author: Bamidele Ayemibo

Price: N 5,000

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Page 4. VOLUME 3 ISSUE 15

Infographics