• Arch. Itegbe shows how to maximize opportunities in global market
By Neebari Dum
Nigeria Export Promotion Council (NEPC) has stressed the need for exporters in Rivers State to leverage on existing opportunities to boost the non-oil sector in the quest to diversify the nation’s economy and attract more foreign exchange into the local market.
Arc. Benedict Itegbe, Regional Coordinator, NEPC, South -South regional office in Port Harcourt, stated these during a one-day symposium on “Driving Export Growth: Maximizing Opportunities in the Global Market’, at the Aldgate Congress Hotel, Sanni Abacha Road in the GRA Phase 3, Port Harcourt.
He outlined some of the programmes initiated by NEPC in the zone to grow the non-oil sector to include the formation of an export cluster and a business development unit, all to assist those that are new to export business.
It is also for the already established exporters in the South-South zone to grow their businesses and achieve sustainability as well as increase participation in the export sector.
These, he said, will assist the region which is now over-depending on oil and gas, to become a force in the non-oil sector.
The business development unit made up of seasoned professionals in the sector is charged with the responsibility to design business model, guide the small and medium enterprises (SMEs) through the various processes and assist them to grow their businesses using the best models available to them. This, according to him, strengthens the community in the face of current economic challenges. It will help in reversing the current downward trend of the country’s gross domestic product (GDP), and create a thriving sector for the growth of the nation’s economy.
In his presentation titled “Digital Tools for Market Research”, the zonal coordinator called for a culture of research, using the relevant search engine to identify available opportunities, market, and product processing techniques, all to target market needs in enhancing a satisfactory service delivery which helps build trust and strong business relationship.
Itegbe also stated that the use of technology or automation has eradicated all issues of delay in documentation which previously accounted for most of the delays at the various ports in the country thereby resulting in payment of demurrage, damage to product, and a loss of capital invested in deal. The faster pace, he said, is a good development helping to accelerate export and quicken export business in Nigeria.
On the advantages of keeping with the trends, Ofon Udofia, the Executive Secretary, Institute of Export Operations and Management (IEOM), presented a paper titled; “Market Trend Opportunities for SME Exporters”. He explained the role of global market trends in harnessing the vast export potentials in Nigeria and called on SMEs to focus on their area of comparative advantage, citing the crushing of palm kernel as a current lucrative market in the export sector.
Ofon Udofia explained that SME exporters must not be producers of the goods before they can engage in export, but can engage in partnership with producers to get the job done.
He identified some of the ways to get it done to include sourcing the products from local manufacturers which usually comes at an affordable rate, processing and packaging to meet the required specification and deliver to the required destination. He said this method offers more profit and could be a good starting point for SMEs who are yet to acquire the required facility for product manufacturing.
Mr. Udofia warned SME exporters against venturing into a contract without a proper documentation saying it is often disastrous. He urged the participants to know the product specification through a proper laboratory analysis so as not to record product rejection at exit or entry points between countries. He said this could result in untold losses especially at the fragile stage of the business when trust is most needed.
Another important issue raised by the IEOM executive was that of product costing, which he said was another important aspect of export business that must be mastered by those new to the business so as to maximize profit.
He also made a case for integrity in business which he said is the livewire of export; and a key to gaining trust, which he said was a requirement for sustainable business relationship.
The other presentation focused on Pre- shipment Inspection Certifications, Procedures and Documentation. It was presented by a representative of Neroli Technologies Limited, Mr. Jerome Nsikak, who stressed the need for quality, accuracy in quantity, and price competitiveness, as a panacea for successful exporting exercise especially for the SMEs.
He revealed that a lot of buyers abroad take advantage of any lapses in product specification to the detriment of exporters in Nigeria and as such, create losses to the nation’s economy, hence the need for strict adherence to the stated specification. One the requirement in terms of documentation, he stated, is registration with the Nigeria Export Promotion Council (NEPC).
Other agencies and organizations of government who play critical roles to ensure that products from Nigeria meet global specifications include the Standard Organization of Nigeria (SON), National Agency for Food, Drugs, and Control (NAFDAC), Custom, Quarantine Service, Ministry of Mines and Steel Development amongst others.
Also, the symposium acquainted participants with relevant international trade policies, guidelines, and opportunities to position them in handling cross-border trade relations in line with global best practices.
The highlight was a presentation of Members of the Business Development Unit by the South-South Regional Coordinator.
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