VOLUME 3 ISSUE 14

Export News:

Non-Oil Export Proceed in

2017: Agric Led Solid

Mineral Sector by 100%

- 1

Export Programme:

Export Business

Clinic and More

- 2

Export Education:

Handling the 5pcs of

Export Business Success

- The Purchases

- 3

Export Training Products:

A-Z of Export Business

Financing and More

- 3

Export Miscellaneous:

Commodity Prices,

Infographs and Lots

More

- 3 & 4

Acting Director for Economic and Regional Affairs, Harry Sullivan said during a telephonic briefing on Tuesday. According to data from the department, Nigeria accounted for a paltry volume of $9 million out of $2.7 billion agricultural exports recorded by the con t inen t t o t he Un i t ed S ta t e s i n 2017 . Specifically, Sullivan noted that an increasing number of countries took advantage of the benefits available under the legislation, adding that the low volume recorded in non-oil export was as a result of dependence on oil.Nigeria's oil export to the U.S rose from $3.4 billion to $6 billion.The U.S. however encouraged Nigeria to liberalize to attract greater foreign investment stating that there are many restrictions to doing business in Nigeria thwarting foreign and domestic investment.Excerpt: Guardian

Malaysian palm oil futures rose to their highest in a month on Monday evening, charting a fourth day of gains after supportive export data from the Malaysian Palm Oil Board (MPOB).

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The CBN quarterly reports for the year 2017 revealed that the Non-Oil Export sector is still declining. Based on the total export proceeds received, from 2014 – 2017, the non-oil export proceed has declined from about $10.5bn to a little above $ 2.3bn. The report from 2017 showed that the Agric sector constituted 42% of the total proceeds received, while mineral constituted 21% in 2017. Within thesame period, the volume of Export proceeds inflows received by the manufacturing sector reduced from 28.07% to 18.05% while that of the industrial sector declined from 18.09% to 13.02%. It can be safely concluded that the efforts of government in diversifying the economy from oil to Agriculture and Mineral sectors are yielding results. However, there is need for a wholistic approach to grow the non-export sector in Nigeria considering the fact that the volume of non-oil export have consistently been on the decline since 2014.

The government has gone beyond the revival of the Export Expansion Grant incentive scheme to introduce a new basket of incentives for existing and new exporters.According to the Acting Executive Director/Chief Executive Officer, Nigerian Export Promotion Council, Abdullahi Sidi-Aliyu, the new basket of incentives is designed to boost the growth of the

Top NewsNon-Oil Export Proceed in 2017: Agric Led Solid Mineral Sector by 100%

FG Unveils New Incentives for Non-Oil Exporters

Nigeria Records Paltry $9m of Africa’s $2.7b Non-Oil Export to U.S

Malaysian Palm Oil Price Climbs to One-Month Peak on Bullish Export Data

Exporters Ready for Another Export of Yam to U.S., UK

Non-Oil Export Proceedin 2017:

Agric Led Solid SolidMineral Sector by 100%

Small and Medium Enterprises sector.

Speaking during a stakeholders' forum on the validation of the guidelines of the new incentives in Lagos on Friday, Abdullahi Sidi-Aliyu, who was represented by the Director, Export Development and Incentives at the NEPC, George Enyiekpon, revealed that the government had already made funds available for the implementation of the new incentives.He added that unlike the EEG, which was a post-shipment incentive where exporters were required to export before accessing, the new basket of incentives was pre-shipment and exporters would be given the grant before carrying out the export.Excerpt: Punch

Nigeria may have to do more under its diversification agenda and remove several restrictions to investments if it hopes to benefit from the extended trade deal, Africa Growth and Opportunity Act (AGOA) by the United States, the State Department's

FG Unveils New IncentivesFor Non-Oil Exporters

Nigeria Records Paltry of Africa’s $9m $2.7b

Non-Oil Export to U.S

Malaysian Palm Oil PriceClimbs to One-Month Peak

on Bullish Export Data

Page 2. VOLUME 3 ISSUE 14

OTHERHEADLINES

Senate Urges Nigerian Gov’t

to Ban Importation

of Palm Oil

- Sahara Reporters

NPA Insists SON, NAFDAC,

Others Banned from Ports-Nig

- Tribune

Nigeria is the 4th Largest

Producer of Cashew

in the World

- Venture Africa

Solid Minerals net

Net N14.6bn into

Federation Account

- New Telegraph

o The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange surged 1.2 percent to 2,543 ringgit ($645.92) a tonne at the close of trade, its strongest daily gain in two weeks. It had earlier touched 2,555 ringgit, the highest level since Jan. 15.Trading volumes stood at 38,579 lots of 25 tonnes each at the end of the trading day."The market is up on the strong export data," said a futures trader from Kuala Lumpur, referring to MPOB export data released during the midday break.Production, meanwhile, was down 13.5 percent at 1.6 million tonnes. Cargo surveyor Intertek Testing Services also showed Malaysian palm oil shipments rose Feb. 1-10, up nearly 15 percent from the corresponding period last month, while Societe Generale de Surveillance reported a 10.6 percent rise.Excerpt: The Star

Prof. Simon Irtwang, Chairman, Technical Committee on Yam Export, on Tuesday said yam exporters were finalising processes to export another consignment of yam to the United States of America and United Kingdom.Irtwang in Lagos said that the consignment will be exported in the first quarter of 2018. According to him, the committee has been touring major yam markets, especially in the South-West, to inspect the quality of yams there“Not all species of yam are good for export. So, yam farmers and traders need to know the species that are good for export. “They also need to know how to select, store and preserve them to increase their freshness and ability to stay long without decaying. “We also have to let yam farmers know the seed yams they will plant that will be good for export,'' he said. Irtwang said that the second export would not attract publicity as the flag-off had already been celebrated in 2017. He said that the exporters and the technical committee were also mindful of the Export Prohibition Act. The chairman said that until the act was repealed the committee and yam exporters would carry out the export quietly.

Exporters Ready forAnother Export of Yam

to U.S, UK

ExportProgrammes

Page 3.

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EXPORTBUSINESSCLINIC

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VOLUME 3 ISSUE 14

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

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Lead Metric Tonne

Zinc

Cocoa Beans

Copper

Tin

Alluminium Bushel

Cotton Pounds

Metric Tonne

Metric Tonne

Metric Tonne

Metric Tonne

USD 2,610.00

USD 3,595.00

USD 2,137.00

USD 7,098.00

USD 21,700.00

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USD 76.62

time starts ticking and so it is wise for you to ensure that the questions about source of goods, funding and logistics are answered before the contract is signed.The fourth question is, who are the people that can link exporters to buyers? Some of the people that an exporter should look out for in their search for links to buyers abroad include: Trade brokers, friends and relatives abroad and existing exporters. The trade brokers are professionals who specialize in connecting buyer's to sellers around the world at a fee. A number of these brokers are commissioned by buyers to help them search for products to buy. They are also engaged by sellers to help them market their products and search for credible buyer's around the world. A number of these brokers are fund in London (covering Europe), New York (covering North and South America), Dubai (covering Africa & Middle East) and Shanghai (Asia). Another very credible channel of getting buyer is working with friends and relatives abroad. This is a less costly and reliable channel because it involves a known person. The details of how this works will be discuss in one of the subsequent editions of export matters. The last one with least probability is getting buyer's through current exporters. Except for exporter who have a large heart, willing to see other people grow and knowing fully well that the market is large enough for everyone, most exporters do not like to reveal their buyer to intending exporters.

contract? It is extremely important that an exporter should not rush to sign an export contract until he has been able to answer the following questions. Where do I intend to get the items to be exported? Does the source have enough quantity of the items to meet the volume demanded in the contract within the specified period? Can I transport the required quantity to the port and still be able to ship them abroad within the shipment period? How much do I need to raise in order to fund the export project? Do I have all the funds for the project? Do I need to source for equity or debt to fund the deficit? Can I get the funds for the project and still be able to ship within the stipulated shipment period? As soon as you sign the contract, the

The second question is where can one get the links to buyers?. This is a very important question because it exporter to know the options that are available to him. These include online trade platforms( , alibaba.comtradekey.com tradeboss.com tradeindia.com, , etc), going on trade mission to the country of the buyers abroad, advertising on the media platforms in the buyer's country, visiting the Nigerian Export Promotion Council (NEPC), visiting bilateral chambers of commerce like Nigerian British Chamber of Commerce, Nigerian German Business Council, Nigerian Netherlands Chamber of Commerce etcThe next and very critical question is, when should an exporter go ahead to sign the export

Title:

A-Z of Export Business

Financing (Audio)

Author: Bamidele Ayemibo

Price: N 5,000

Title:

Handling 5Ps of Export

Business Challenges

Author: Bamidele Ayemibo

Price: N 5,000

S/N

1.

2.

3.

Handling the Critical 5Ps

of Export Business Success

- The Purchasers

Cont'd from last issue

EXPORT NIGERIA CAMPAIGN

tradeacademy@3timpex.com08091244449 www.3timpex.com www.tradeinfong.com

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

Page 4. VOLUME 3 ISSUE 14

Infographics