for June 2018

CBN The case of Apapa which has been neglected by successive administrations for many years has now constitute national disgrace which the current administration needs to give priority and tackle headlong in the shortest possible time so as to enhance the growth in non-oil export and hence the export proceeds inflow into the country.

Excerpt: Tradeinfo.ng

Nigeria's trade balance nosedived by 67.6 percent, quarter-on-quarter, to N681.3 billion in third quarter of the year (Q3'18), due to upsurge in import. Nigeria Bureau of Statistics (NBS) disclosed this yesterday in its foreign trade report for Q3'18. The report revealed that foreign trade rose by 30 percent with total imports rising by 73.8 percent while exports rose by 7.8 percent during the quarter. The report stated: “Nigeria's external trade totalled N9.025 trillion during the third quarter of 2018.Compared to the value of N6.903 trillion recorded against the second quarter; a rise of N 2.12 trillion or 30.7 percent was indicated. Audu Ogbeh, Minister of Agriculture, Okechukwu Enelamah, Minister for Trade and Investment.

Geoffrey Onyeamah, Minister of Foreign Affairs. President Buhari and Col. Hammed Ibrahim Alli, DG Custom “The total export component of this trade was

The situation of the gridlock in Apapa has compel the truck drivers and their motor-boys to be living a very deplorable life. The infrastructure of Apapa, a major hub for government revenue generation was neglected for such a long time, and these have led to the need to do a major repair that is currently going at a snail speed for over a year. This has led to a very sharp decline in the non-oil export volume in Nigeria from 12% in Q1 to 3.6% in Q3 of 2018.

Our investigation revealed that a number of the drivers cannot go home even if they live in Lagos. They are forced to sleep in the truck because of thieves and vandals who will come and remove the truck battery and other valuable parts from the truck while they are away. They practically sleep with one eye opened so as to prevent these thieves from carrying out this kind of operation on their trucks under the cover of darkness.

There was a case of one of the driver who has been on the road for more than 2weeks during which his wife delivered in Lagos and he had to tell them to go ahead and do the naming ceremony in his absence. This is because he cannot afford to leave the truck on the road and go home due to fear of theft and vandalization before he returns.

It is also horrible to know that a number of the drivers have theirs baths inside empty containers at the back of the flatbed trucks. They had to get buckets and then arrange for water at different locations while in transit and use this to have their bath inside the empty containers.

Since they had to eat and hence attend to the call of nature when necessary. These truck divers and their boys have turned the takeaway packs in which their purchased daily meals are served into the carrier of their faeces and these are dumped on the roadside or nearby bush.

recorded N4.9 trillion, representing increase of 7.8 percent over Q2'18 and 35.7 percent over Q3'17. “The import component stood at N4.2 trillion in Q3'18 showing 73.8 percent higher than Q2'18. This was due to importation of submersible drilling platforms in August which was quite expensive and of course occasional importation. In the same way, there was a rise of 67.7 percent when compared with the import value of the corresponding quarter in 2017.

Excerpt: Vanguard

It is already a known fact that Nigeria is a dumping ground for most illicit and substandard goods from different parts of the globe.

The reasons for this are not far-fetched, as corruption and maladministration among government agencies saddled

with the responsibility of monitoring goods coming into the country have been heightened at the various point of entry.

Particularly, Lagos Chamber of Commerce and Industry (LCCI) has lamented that this problem has been responsible for the inability of local goods to compete favourably at the international market.

As the influx of illicit products continues, SON is once again calling on the Federal Government to give it the opportunity to return to the ports in a bid to ensure sanity by 75 per cent next year.

Genesis

In 2012, the Federal Government, through the Presidential Committee on Port Decongestion, headed by a former Finance Minister and Coordinator of the Nigerian Economy, Dr. Ngozi Okonjo-Iweala,

Apapa Gridlock: DriversBath Inside Container,

Defecate in Takeaway Packs

Export News: Export Programme: Export Education: Export Training Products: Export Miscellaneous:

INS

IDE

TH

IS IS

SU

E

Apapa Gridlock: Drivers

Bath Inside Container,

Defecate in Takeaway Packs

- 1

MRG Model: How

Nigerian States Can

Generate Over

N100Billion Revenue

- 3

Importer’s Companion

and more

- 4

Commodity Prices,

Infograph, and lots more

- 3 & 4

Import Processes,

LC & BC and More

- 2

VOLUME 3 ISSUE 57

Top NewsApapa Gridlock: Drivers Bath Inside Container, Defecate in Takeaway Packs

Nigeria's Trade Balance Nosedives by 67% to N681bn in Q3'18

Product Standardization: SON's Presence at Ports Critical

FG Plans to Increase Manufacturing Sector Exports to $30bn Annually by 2025

NEPC Encourages Women Participation in Non-Oil Exports

Nigeria Trade BalanceNosedives by 67% to

im Q3’18N681bnProduct Standardization:SON’s Presence at Ports

Critical

for June 2018

.

Page 2.

In an effort to promote effective grassroots participation in non-oil export development activities, a one-day SheTrades sensitization forum has been organized by Nigerian Export Promotion Council (NEPC), Calabar export assistance office, in collaboration with African Women Entrepreneurship Programmes (AWEP) in the Cross River State capital.Director General/Chief Executive Officer, NEPC, Mr. Olusegun Awolowo, said the sensitization forum is aimed at creating export awareness, educating women entrepreneurs on how to successfully register on the SheTrades platform and to create a database of women export oriented companies in the state as well as mobilize women entrepreneurs participation in their programmes and services.Represented by the Trade Promotion Advisor of NEPC in the state, Dr. Emmanuel Etim, Awolowo noted that the forum will also help to build the capacity of women entrepreneurs and business support organizations on SheTrades initiative and its benefits as well as build entrepreneurial skills that could stimulate growth in non-oil export activities, create jobs, grow the nation's GDP and promote industrialization in the state.“This sensitization forum is carefully designed to promote women participation in non-oil exports trade as well as enlighten women exporters/entrepreneurs in the state on accessing the benefits of SheTrades initiatives platform,” he said.Excerpt: Business Day

approved the sacking of some federal agencies, including SON, National Agency for Food, Drug Administration and Control (NAFDAC), Quarantine Service among others from operating at the ports as part of decongestion.

For a while now, the Presidency has insisted that SON, NAFDAC and others remain banned.

However, it was gathered that the two agencies were believed to have been lobbying the National Assembly to reverse the decision to eject them from the ports, claiming that their role at the port was critical for national development.

They had also condemned the decision claiming that it could be dangerous for the country to allow them out of the ports because of influx of fake goods and substandard products.

Permitted federal agencies

Only eight Federal Government agencies are allowed to operate and have physical representation at all port locations in the country, based on the directive of the Presidential Enabling Business Environment Council (PEBEC) to ensure strict compliance with the October 26, 2011 Presidential directive on agencies permitted to operate in the ports.

The Presidency had only allowed the Nigerian Ports Authority, National Maritime Administration and Safety Agency, the Nigeria Customs Service, Nigeria Police Force, State Security Service, National Drug Law Enforcement Agency (NDLEA), Nigerian Immigration Service and the Port Health Authority as the agencies to operate in any form within the ports.

In line with the Federal Government mandate to create a Made-in-Nigeria for Exports, MINE, project, the Federal Ministry of Industry, Trade, and Investment, MITI, said the government would be increasing manufacturing sector exports to at least US $30 billion annually by 2025. To this effect, the Ministry is partnering with the Abia State Government and Crown Realties Plc, for the development of Enyimba Economic City in the State. In a statement made available to Vanguard, the Minister of Industry, Trade and Investment, Mr. Okechwuku Enelamah, said: “The Federal Government's Economic Recovery and Growth Plan identifies the development of Special Economic Zones (SEZs) as a major strategic tool to accelerate the implementation of the Nigeria Industrial Revolution Plan through the manufacturing of goods for exports. Sea port “Accordingly, Project MINE (Made in Nigeria for Exports), was envisioned by the Federal Ministry of Industry Trade and Investment and the Nigeria Export Processing Zone Authority (NEPZA), to develop SEZs to world-class standards and position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa and a major exporter of made in Nigeria goods and services regionally and globally.

Excerpt: Vanguard

VOLUME 3 ISSUE 57

HEADLINESOTHER

Npa Raises Demurrage, RentFree Days to Cut Financial Suffering

of Importers at Ports– Business Day

Armti Chief SeeksAgro Zones to Boost Export

– The Nation

Stakeholders CondemnForeign Domination of Nigeria's

Shipping Business– Business Day

FG Plans to IncreaseManufacturing Sector

Exports to $300bnAnnually by 2025

NNPC Encourages WomenParticipation in Non-Oil

Exports

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Page 3.

The third and critical phase of MRG Model is the Incorporation. The government needs to register a special purpose vehicle which must be a limited liability company in which the government, mining site owner, local administrative partner and fore ign technica l par tner a re a l l shareholders. In this alliance, the mining site owner should be given a share of about 10-20% of the income generated by the company based on his investments in securing and possibly exp lo r ing the min ing s i t e . The loca l administrative partner should be a consultant in the industry and should be the one to supervise the site activities, manage the business, source for local labour force, and possibly source for the

EXPORT ORDERS

LOCAL ORDERS

COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG)

S/N

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PRODUCT

COMMODITY

SPECIFICATION MINIMUM SHIPMENT

1.

2.

3.

1.

2.

3.

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PRODUCT SPECIFICATION PAYMENT MONTHLY VOLUME

Zinc Ore Purity 35% 60MT Per Month

120MT Per Month

60MT Per Month

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Metric Tonne

Bushel

Pounds

Metric Tonne

Metric Tonne

Metric Tonne

Metric Tonne

Cont’d from previous issue

MRG Model:How Nigerian States Can GenerateOver RevenueN100 Billion

Author: Bamidele Ayemibo

Price: N 5,000

Title:

Importers’s Companion

Speaker: Bamidele Ayemibo

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foreign technical partner and should therefore be allotted a share of about 5-10% of the income of the company. The foreign technical partner is the one that will provide the machinery, equipment, take care of the cost of maintaining and managing the equipment, get the buyers abroad and competent personnel that will do the actual mining activities and should therefore be given about 30-40% of the income generated by the company.

The state governments should be responsible for providing the title to the land for mining, feeding and accommodation for the workers, road infrastructure to the mining site, development of

the community where the mining activities take place, warehouse for products and equipment, security for the personnel and products from the mine and should therefore be given 40-45% of the income generated by the company. All these should be documented in a shareholder agreement and joint venture agreement to be signed by all the parties.

Cont'd in next issue

VOLUME 3 ISSUE 57

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Page 4.

Export Miscellaneous

Photo Speaks

VOLUME 3 ISSUE 57