Ghana Begins Fuel Exports To Nigeria

Ghana has started exporting fuel and gas oil to the landlocked countries of West Africa.The state-owned Bulk Oil Storage and Transportation Company (BOST) Limited, is also supplying petroleum products from the same depot to Benin Republic and Nigeria. Ghana’s Minister of Petroleum, Mr Emmanuel Armah-Kofi Buah, who made this known at the meet-the-press series in Accra, said there were plans to extend the exports to Liberia in the coming months.

 

The minister said the vision of the government was to make Ghana the hub for the distribution of petroleum products in the West African sub-region.The Bolgatanga Petroleum Depot, with a capacity of 46 million litres of refined gasoline and gas oil, was re-inaugurated in August 2015.

 

Buah said Ghana had been ushered into a new gas era that would guarantee its energy security for the next two decades. “Despite the global downturn in the oil industry, we have managed to increase production“, Buah said. Ghana’s strategic stock was at an all-time high, with about one million metric tonnes of petroleum products IMPORTED from January to June 2016.

 

Ghana is planing to become the major marketer of refined petroleum product inWest Africa and we here in Nigeria are the giant of Africa with Nothing to show for it.Imagine Ghana achieving this feet with IMPORTED petroleum product and I wonder what is wrong with Nigeria before you export anything out of a country that means you have enough to give out.

 

We have more than four refineries in Nigeria and we can’t even produce enough product for our daily consumption.

Nigeria’s Exports Grow By 63% to N1.873trn In Q2

The total value of Nigeria’s export trade increased to N1.873 trillion in the second quarter (Q2) of 2016, representing an increase of N725.6 billion or 63.3 per cent, over the value recorded in the preceding quarter.

The National Bureau of Statistics (NBS) disclosed this in its foreign trade statistics for Q2 2016 that was released on Tuesday.
According to the NBS, the improvement in export value was largely due to the depreciation in the value of the naira.It, however, pointed out that the structure of the export trade is still dominated by crude oil exports, which contributed N1.493 trillion or 79.7 per cent to the value of total domestic export trade in 2016.

Exports by section revealed that Nigeria exported mainly mineral products, which accounted for N1.735 trillion or 92.7 per cent of the total export value. Other products exported by the country included “animal and vegetable fats and oils and other cleavage products” at N55.7 billion or three per cent.

“Base metals and articles of base metals” at N28.4 billion or 1.5 per cent, and “prepared foodstuffs; beverages, spirits and vinegar; and tobacco” was at N16.2 billion or 0.9 per cent.

The export by direction showed that the country exported goods mainly to India, United States, Spain, Netherlands and South Africa whose values stood at N402.7 billion or 21.5 per cent, N235 billion or 12.5 per cent, N215.2 billion or 11.5 per cent, N133.3 billion or 7.1 per cent, and N119.9 billion or 6.4 per cent respectively.

In addition, the natural liquefied gas recorded N198.0 billion of the total export value during the period under review.

Read More: thisdaylive

Earnings From Non-oil Exports Slide To $1.6 Billion

Following the inability of Federal Government to revive incentives for non-oil exporters, proceeds from the sector has continued to witness a southward trend, as the nation’s earnings hit $1.6 billion from $3 billion recorded in 2013.

According to stakeholders in the sector, earnings from non-oil export can easily cross $5 billion this year and bring some relief to tackle the foreign exchange crisis prevailing in the economy, if suspended incentives are revived and other challenges addressed.

Executive Secretary of the Organised Private Sector Exporters Association (OPEXA), Jaiyeola Olarewaju in a chat with The Guardian, noted that exporters have in the last two years, been sitting on a backlog of over N100 billion worth of unutilized export certificates issued under the seal of the Ministry of Finance, urging government to honour its financial commitments in regards to extant law

“It is paradoxical that one sector that had the potential to cushion the commodity shock has been paralysed due to lack of inter-ministerial coordination. Nigeria’s non-oil exports fell from $3billion in 2013 to $1.6 billion in 2015. In 2014, the country had realised $2.7 billion in non-oil exports. In 2015, exports of cocoa, Nigeria’s largest commodity declined by 35 per cent whereas leather exports, which is the main stay of industrial economy in the North plunged by 60 per cent.

“If the EEG policy had been sustained, our non-oil exports today would have easily crossed $5 billion by 2016 and brought some relief to tackle the foreign exchange crisis prevailing in the economy. The officials have been evading the issue by alluding to perceived abuses of the grant which led to its suspension. It is classic case of throwing the baby with the bath water. The exporters relied on the extant policy and repatriated forex through the banks duly verified by the CBN”.

He explained that while diversification is being advocated as the need of the hour to generate employment by boosting production in the non-oil sector, government should clear the backlog of unutilised NDCCs and exports made in 2014 and 2015 under the extant policy to sustain about 11 million Nigerians employed directly and indirectly in the non-oil export sector.

Credit: Guardian

Noel Onoja: Tackling Rejection Of Nigerian Products And Exports

Over the past five years, Nigeria has continually ranked behind in the Global Competitiveness Report Index, according to the World Economic Forum (WEF) Nigeria is ranking 115th out of 144 countries assessed and with about 103 export products and commodities rejected at the international market trailing behind countries like South Africa and Ghana with only 5 and 6 product rejects and countries like Kenya and Cameroon, this is not a good position and perception for a developing economy like Nigeria and it seem to not be improving just yet; within the week, the European Union (EU) gave Nigeria till June 16, 2016 – a deadline to put a management system in place to reduce pesticide contaminated food products being exported to the region or face continued rejection of export.

Most of our finished products have been assumed to be below standards especially at markets fronts like the US, Europe and Japan and that is why most of our local experts have argued against Nigeria going into partnership agreements like the Economic Partnership Agreement (EPA) because our products might be at a disadvantage as they may not be able to favourably compete, then again we look at our raw produce like sesame seeds and domestic beans which have constantly been rejected due to presence of contaminants like afloxin-pesticide residue, and the same time NAFDAC says it is worried that this same food produce rejected at the international market because of its high pesticide residue are actually what Nigerians consume at home.

The continued rejection is affecting the country’s export earning, over the few years we have witnessed a continuous decline in export earnings, export earnings figure is seriously taking a down turn. In 2011, the export earning was $2.7billion. In 2012, it was $2.5billion (7,4 per cent); 2013, it was $2.97billion (13.7per cent); 2014 figure was $2.71billion (8.62 per cent). In Q1 2014, it was $814million; Q1 2015, it was $652million, representing (19.86per cent). In Q2 2014, it was $664million; Q2 2015, it was $391million (39.25per cent) according to figures from the National Bureau of Statistics (NBS) and this is a serious trend.

How do we change the trend of rejection met by our locally produced goods and commodity exports in the international market, how do we change the dismal perception about Nigerian products even locally first, how can we improve on our product quality and our product acceptability index internationally from proper documentation to harmonisation of standards and to branding and packaging generally?

First we must be seen to be proactively working, especially in addressing factors like quality of our products, packaging, pricing and promotion, value addition, sanitary conditions, standardisation, compliance with best practice, technology, innovations, research and development.

Secondly we must begin to control and regulate properly, local production, quality control, processing and documentation, for example, systems can be put in place to ensure that before products leave the country’s shores to the international market, the Nigeria Custom Service (NCS) can inquire and make proper test on these products to eliminate the cases of rejects at the market, and before these products even get to the point of export, they should have been adequately certified by the Standards Organisation of Nigeria (SON) and the National Agency for Food and Drugs Administration (NAFDAC), so that exporters who send their products to the market without proper checks and certification from authorities and whose products are rejected are meant to be prosecuted for failing to follow due and diligence check, this is to save the country the continuous embarrassment of rejection.

Thirdly, there should be proper synergy between government agencies in embracing the best approach to quality assurance through the creation of appropriate quality infrastructures, funding for research and development as well as product adaptation to meet international requirement. Recently a committee of agencies involving customs, Nigerian Export Promotion Council (NEPC), SON, NAFDAC, and others were sent on fact finding mission, on reasons Nigerian exported products have always been rejected and on the heel of that, the NEPC has promised that by 2016 Nigerian products will stop being rejected at the international market, this is worthy of note but we need to concrete actions to that effect.

These agencies should drive more effort towards checking factors that may hinder product acceptability along the line of production, for example, NAFDAC can put a process in place where mobile laboratories can be deployed to farms and markets to check and identify at what points that contaminants find its way into the food, to check what the farmers and sellers are not doing rightly and nip it from that stage, this type of campaign can be further extended to creating directed awareness and workshops for the people growing this foods; in same vein exporters who send products to the market without due checks should be prosecuted alongside proper awareness creation for the producing and consuming populace.

Noel Onoja writes from Abuja amgentmedia@gmail.com

Nigeria Exports N2.1tr Petroleum Products In Second Quarter

The Federal Government exported ?2.1 trillion worth of petroleum products during the second quarter of this year, according to the National Bureau of Statistics.

This represents a 73.7 per cent of the value of the country’s total exports in the quarter under review.

Besides, the country imported N140.5 billion worth of Premium Motor Spirit (PMS), otherwise known as petrol, during the same period.

NBS in its second quarter trade statistics released at the weekend, stated that PMS remained the product with the greatest import value at ?140.5 billion, or 9.4 per cent of the total second quarter 2015 bill.

Read More: ngrguardiannews