Business

Non-Oil Export Generates N305bn – NBS

Published

12 years ago

July 29, 2013

igeria earned about
N305.1billion within the first three months of 2013, figures obtained from the National Bureau of Statistics indicate.

A breakdown of the figures highlighted under “2013 Export First Quarter” in the NBS’ report on ‘Merchandise Trade’, showed that export from natural rubber was N158.38 billion; raw cocoa beans attracted N62.198 billion; Sesame seeds, N20,76 billion;? cotton yarn, N16.44 billion; and ?Leather products, ?N8.56 billion.

Similarly,? within the period under review, the ?export value of flowers and buds stood at N8.19 billion; footwear, N7.07 billion;? tanned or crust hides, N5.41 billion; frozen shrimps and prawns, N4.96 billion; ginger, N4.09 billion; sacks and bags, N3.84 billion; cigarettes, N2.75 billion; and aluminum alloys, N2.54 billion.

The exports mentioned above, which are captured under the sub-heading, “2013 Export First Quarter” in the NBS report, totaled about N305 billion.

However, the NBS further said, “Analysis on exports by section revealed that mineral products? contributed N3,034.2billion or ?87.9 percent of total exports during the quarter, followed by plastic, rubber and associated articles with N168.1billionn or 4.9 percent; and prepared foodstuffs, beverages, spirit, vinegar? and tobacco with N115.2billion or 3.3 percent.

“Exports to various continents showed that Europe ranked first with N1.66 billion or 48 percent of total exports, followed by the Americas with N830.2 billion or 24.1 percent; Asia with N591.8billion or 17.1 percent and Africa with N304.2billion or 8.8 percent.” Meanwhile, crude oil exports stood at N3, 030.7 billion during the first quarter of 2013, the NBS said, representing a decrease of N1.07 billion or 26.1 percent when compared with the previous quarter.

Based on the Bureau’s statistics, analysts linked the drop in exports to the significant decrease in crude oil export. Out of the exports to Africa, however, the report noted that ECOWAS contributed N178.2billion or 58.6 percent.

Exports by country of destination showed that United States took the lead with N414.1 billion, followed by Netherlands with N386.0bllion; Brazil with N343.0billion, India with N332.6billion and Spain with N327.6billion.

The NBS added that exports to various continents showed that Europe ranked first with N1.66 billion or 48 percent of total exports, followed by the United States with N830.2billion or 24.1 percent; Asia with N591.8billion or 17.1 percent and Africa with N304.2billion or 8.8 percent. Out of the exports to Africa, ECOWAS contributed N178.2billion or 58.6 percent.

Furthermore, exports by country of destination showed that the United States took the lead with N414.1 billion, followed by Netherlands with N386.0 billion; Brazil (N343.0billion); India (N332.6billion) and Spain (N327.6billion). Non-oil exports have become a major contributor to the growth of the country’s Gross Domestic Product within the last one year.

The Central Bank of Nigeria had said that the industrial sector contributed 66.9 percent of the Federal Government’s non-oil earnings in the first quarter of 2013. The apex bank, which made this known in its economic report for the first quarter of this year, noted that this represented an increase of 15.1 and 9.3 percent over the preceding and corresponding quarter in 2012, respectively.

Nigeria will export 63 cargoes of crude oil, totaling 58.2 million barrels or 1.94 barrels per day for the month of September 2013, according to data obtained from Bloomberg.

With cargoes ranging in size from 250,000 to one million barrels, the report said this will keep Nigeria’s daily crude exports for September little changed from August, and will cover 17 grades excluding Bonny Light.

Breakdown of the crude export loading programme shows that the country will ship 12 consignments of Qua Iboe grade, seven of Agbami, five each of Brass, Akpo, Bonga and Forcados, four of Usan, three each of Amenam, Erha, Escravos and Antan, two each of Yoho and Okono, and one each of Abo, EA, Okwori and Pennington.

Traders with knowledge of the loading programme, however stated that it remains unclear whether Nigeria will export Bonny Light in September, especially as no shipments for this grade were planned for August.

Royal Dutch Shell Plc declared force majeure on exports of Bonny Light after closing the Nembe Creek Trunkline on April 15 to remove connections oil thieves used on the pipeline. Force majeure is a legal step that protects a company from liability when it can’t fulfill a contract for reasons beyond its control.

Loading programme are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

4 days ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

4 days ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

7 days ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi