Nigeria: Exports Hit N2.7bn in 6 Months – NEPC

The Executive Director, Nigerian Export Promotion Council (NEPC), Nonye Ayeni, says exporters raked in ₦2.7 billion from January to June.

Ayeni made the disclosure at a one-day sensitisation seminar for exporters on export contracts and use of International Commercial Terms ( INCOTERMS) organised by the council in Owerri, on Thursday.

Ayeni, represented by the Coordinator of NEPC in Imo, Mr Anthony Ajuruchi, said that the profit was an indication of the hard-work and commitment of non-oil exporters in the country.

She said that the workshop was necessary to equip exporters with requisite knowledge of INCOTERMS as they hold the key to unlocking successful global trade transactions and improving product competitiveness.

“Understanding INCOTERMS plays a vital role in international trade, providing a standardised framework for buyers and sellers to communicate and mange their responsibilities and liabilities.

” By understanding the 11 INCOTERMS rules, businesses can clarify their obligations and risks with a view to minimising misunderstandings and disputes,” she said.

Ajuruchi said that in line with NEPC’s motto of doubling exports for economic growth and job creation, export negotiation should be done in a way that satisfies all parties in a business and convinces the buyer of the comparative advantage of a seller’s product.

He advised exporters to plan well ahead of a business negotiation, define their ground rules, make a good impression, have a good bargaining power, discover the actual needs of a client and build trust.

 “When negotiation is good, concerned parties go home happy, but when it is bad, the reverse is the case. All of these lie in the hands of the exporter, ” he said.

NAN