VOLUME 3 ISSUE 11

Export News:

Nigeria Earns N284bn from

Cashew Exports in Three

Years

- 1

Export Programme:

Export Business

Clinic and More

- 2

Export Education:

The Challenges of AGOA

and the Way Forward

and More - 3

Export Training Products:

Export Business Made Easy

and More

- 3

Export Miscellaneous:

Commodity Prices,

Infographs and Lots

More

- 3 & 4

Operators of Edo Inland Container Deport, Atlantique Marine and Engineering Services (AMES) said the facility has the capacity of creating over 13,000 direct jobs as soon as it commences operation.AMES Managing Director, Charles Akhigbe made this known in Benin during a meeting with members of the Edo Export Cluster and representatives of federal government regulatory agencies.He said that the first phase of the project would accommodate 12,000 containers while the second phase would take 8,000. Akigbe disclosed that the meeting was to strengthen the collaboration between AMES and Edo cluster aimed helping them in the exportation of agro allied and other non-oil products in the state.According to him, the collaboration would help solve the problem of the loss of nearly 45 percent of harvested agro allied products that cannot reach markets on time.He explained that agriculture contributes about

Between 2015 and 2017, Nigeria earned $813.05m (N284.5bn) in foreign exchange from the exportation of cashew.The President, National Cashew Association of Nigeria, Mr. Tola Fasheru, gave the figure in Abuja shortly after he led a delegation of the association to meet with the Minister of State for Industry, Trade and Investment, Mrs. Aisha Abubakar. The NCAN president disclosed that the contribution of cashew to national export earnings had been on a steady increase since 2015.For instance, he said export earnings rose from $152m in 2015 to $259m in 2016 and $402.05m in 2017.According to him, Nigeria's major trading partners are from Vietnam, India and the United States. Fasheru commended the commitment of the Federal Government to repositioning the economy through cashew production and stressed that the Nigerian brand of cashew nuts was one of the most preferred internationally. He called on the Federal Government to address some of the problems affecting the production and exportation of cashew in the country.Excerpt: Punch

The Organised Private Sector (OPS) has reiterated the need for the Central Bank of Nigeria (CBN) to support export growth in the country through

Nigeria Earns N284bnFrom Cashew Exports

in Three Years

redeeming the N550 billion export stimulation fund to exporters.

This is even as it has identified the provision of key infrastructure and implementation of revised incentives as measures to aid development in the sector.According to the Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry (LCCI), production cost by exporters remains high, largely because of infrastructure issues. The stakeholders noted that s u c h o p e r a t i n g c o s t s h a v e a ff e c t e d t h e competitiveness and profit margin of exporters.They added that about N550 billion export stimulation fund promised by the CBN is yet to be made available to exporters, stressing the need to properly implement the new Export Expansion Grant (EEG) including defraying the outstanding debts.“Facilities for testing of the quality of the export products and the generation of quality reports are still lacking in the country. Reliable testing facilities are necessary for the generation of credible quality assessment report. The solid mineral sector is the most affected by this challenge. It is, therefore, very important that government puts in place standard quality testing laboratories for exporters and for export products in 2018.Excerpt: The Sun Newspaper

Edo Inland Port toCreate 13,000 Jobs

INS

IDE

TH

IS IS

SU

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Top NewsNigeria Earns N284bn from Cashew Exports in Three Years

Implement N550bn ESF to Boost Export, CBN Urged

Edo Inland Port to Create 13,000 Jobs

Uganda’s Manufactured Goods Export Increase

Japan’s Exports Grow 9% in December to Close Out Strong Year

Implement N550bn ESF to Boost Export,

CBN Urged

Page 2. VOLUME 3 ISSUE 11

on the rise, and large firms plan to increase their capital investment in the first quarter. But increasing domestic demand remains key to Japan's economic recovery becoming self-sustaining. Better retail sales and household spending data have offered signs for optimism, and continued growth in imports would offer another indication that demand is rising.Excerpt: Bloomberg

$120 billion to annual Gross Domestic Product, representing between 24 to 26 percent and lamented that little or no amount of per capital of the fund gets to the small scale farmers.Excerpt: Daily Trust

A decade ago, Uganda's manufactured exports to the region were insignificant. Records now indicate a 100 per cent increase. If this trend experts continues upwards, the country's import bill will reduce drastically and more jobs will be created. Currently, Uganda exports manufactured goods to the region worth $1 billion (Shs3.6 trillion) up from $10 million (Shs36.5 billion) the country earned almost 10 years ago.Speaking to Prosper Magazine at the sidelines of the second Annual Exporters' Conference, Mr Elly Twineyo, the executive director Uganda Export Promotion Board, said: "This trend shows that Uganda is diversifying from agro-based exports. The quality of our manufactured goods has improved greatly and with increased investment in value addition exports of manufactured goods have increased.”Experts attribute this development to increased population in the region and people's incomes, factors which have seen manufactured products especially under the construction sector highly demanded. Excerpt: All Africa

Japan closed out its best year for exports since the financial crisis with solid growth again in December, as the global economic recovery looks set to continue well into 2018.Japan's exports recovered throughout 2017 thanks to solid global demand and a weaker currency. 'Confidence among large and small manufacturers is

Uganda’s ManufacturedGoods Exports Increase

ExportProgrammes

Japan’s Export Grows9% in December to

Close Out Strong Year

OTHER

HEADLINES

Reps Seeks Banon Importation

of Fish- Punch

Nigeria Earns N1.213trfrom Crude Oil Export

in One Year- Guardian

Palm ProduceAssociation Cries Out

Over Illegal Importationof Palm Oil

- Tribune

imported, the exporter from SSA countries provides the following documents; Commercial Invoice, Certification of Origin, Bill of Lading, Packing List, and other necessary documents peculiar to the importation of such goods into the US market. The challenge is not the documents themselves, but some specific details that must be stated on them before it can be allowed into the US market without the payment of duty fee. For example the Certificate of Origin must conform to the details required for rule of origin while the Commercial Invoice for Apparel has to be stamped with original AGOA visa by the exporting country's authorities.

Pricing is undoubtedly a major challenge that confront the AGOA programme. Despite the fact that the goods under this scheme are allowed into the US market free of duty payment, the infrastructural deficit is so high thus, leading to the high cost of production. The bad roads leads to high cost of transporting the goods, lack of power supply leads to high cost of running the factory, lack of certified laboratory increase the cost of quality certification (since samples need to be sent abroad to reliable laboratory analysis). Therefore, we need to fix the infrastructural deficit in order to be reasonably competitive.

Page 3.

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January 14 & 21, 2017 Date -

VOLUME 3 ISSUE 11

buyers of the products in the USA. They operate under strict regulations that must be adhered to before they can import any product into the US market. This means anyone planning to ship to a US buyer from the SSA countries need to be able to demonstrate competence to deliver the right product(s), consistency in delivery and credibility. We in the SSA countries are in an environment where mediocrity thrive thus, coming up to the high standards demanded by the buyers become a task that only few companies can achieved.

The challenge of paperwork is another major obstacles that has impeded the progress of AGOA in the SSA countries. These has to do mainly with the post export documentations. For the importer in the US to enjoy the duty free benefits on the goods being

The Product to be exported is a major challenge. It is no more news that major export products of Africa nations including the SSA countries are mainly agricultural commodities, crude oil and raw metals. On the other hand, most of the over 6000 items on the AGOA product list are not raw products, they are mainly value added products in their secondary or tertiary states. So if the SSA countries are going to be able to benefit from AGOA, there is a great need to shift from focusing on primary products and begin to add value to them in order to convert them into secondary or tertiary products. This has not happened for the past 17years that this USA trade law has been in place because of other issues that I will discuss in other factors below.

The next major challenge is purchasers. These are the

Export TrainingProducts

The Challenges of AGOA

and The Way Forward

Cont'd from last issue

Title:

A-Z of Export Business Financing

Author: Bamidele Ayemibo

Price: N 10,000

Title:

Export Business Made Easy

Author: Bamidele Ayemibo

Price: N 5,000

ExportMiscellaneous:

EXPORT ORDERS

LOCAL ORDERS

COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG)

S/N

S/N

S/N

PRODUCT

COMMODITY

SPECIFICATION

PRICES

MINIMUM SHIPMENT

UNIT OF MEASUREMENT

1.

2.

3.

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 2,621.00

USD 3,482.00

USD 1,988.00

USD 7,091.60

USD 21,345.00

USD 2,221.00

USD 81.00

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...raising legion of exporters

Targets:

export seminar for religiousFREEorganizations, clubs, cooperative associations, etcObjective:educate, enlighten, empower thepublic and create employment

Page 4. VOLUME 3 ISSUE 11

Infographics