Why Nigerian exports fail on the international market – NEPC explains
The Nigerian Export Promotion Council (NEPC) has explained why many Nigerian businesses including women entrepreneurs fail in export business.
The Federal Government agency attributed this to a lack of adequate training and exposure on export business in the international market. NEPC, in its explanation, recognized the need for anyone who wants to go into the export business to first undergo full training about the business.
This was made known by the Executive Director/CEO of the NEPC, Mr Olusegun Awolowo, at a capacity building workshop for women-owned businesses in the non-oil export value chain organised by the Export Development And Incentive Department of the NEPC, held in Akure, the Ondo state capital on Friday, according to Punch.
What the NEPC Chief Executive Officer is saying
Awolowo, who was represented by the Head/Trade Promotion Advisor, NEPC Akure, Mr Macpherson Fred-Ileogben, said many exporters failed in the export business for lack of adequate training.
He said,” Lack of export market training is one of the major reasons Nigerian exporters fail in the international market. Exporters need to learn the specific requirements of the target markets as well as the certification needed for the product to be exported.
“It is on this premise that the Council decided to organize this workshop that comprises coaching and networking sessions to give women entrepreneurs the opportunity to improve their knowledge of the competitiveness in the export market.”
The NEPC boss noted that women participation in trade promotes gender inclusiveness, increases the growth potential of the nation and creates a more balanced framework for sustainable development.
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Speaking at the occasion, the guest lecturer, Mr Ofon Udofia said Nigeria as a country is blessed with a lot of products that if well packaged, could be exported.
Udofia stated that it was unfortunate that most people lost out as they first went into the production process and arrived at a finished product before looking for markets for the product.
What you should know
- The NEPC was established through the promulgation of the “Nigerian Export Promotion Council Decree No. 26 of 1976”, now an Act in line with the democratic governance of the Country.
- The Council is the leading Federal Government Agency charged with the responsibility of promoting non-oil export in Nigeria to diversify away from oil and build a formidable economy.
- The continued rejection of Nigerian exports especially food items has been a major challenge as some of the blame have been put on government officials, who fail to provide enough guidance.
- Recall that earlier in July, the Minister of Foreign Affairs, Mr Geoffrey Onyeama, during a meeting with the NEPC CEO, explained that Nigerian exports are rejected by many other countries because the quality of products from the country, especially agricultural products, do not meet the export standards of these countries.
