Connect with us

Business

Nigerians Unofficially Exporting $40bn Goods Annually – NEPC

Published

7 years ago

on

The Nigerian Export Promotion Council (NEPC) has said that Nigerians are exporting goods worth over $40bn informally every year.
The Executive Director and Chief Executive Officer of NEPC, Mr. Segun Awolowo, stated this in Lagos on Friday during a visit to the President, Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMA), Chief Alaba Lawson.
According to him, a lot of goods are moving from Nigeria to other African countries without being documented.
He said the council had initially estimated such trade as $8bn annually, but going by the calculation of the International Trade Centre in Geneva, over $40bn worth of goods were informally exported.
Awolowo worried that this informal trade did not reflect on the economy and sought the NACCIMA’s collaboration to formalise the trade.
He said, “We want to work with NACCIMA to formalise this informal trade. We have to work with your chambers in all the states of the federation. We have to give these small business owners incentives that will make it better for them to do business.”
According to him, in order to aid small businesses, the Federal Government has introduced the Export Development Fund, a pre-shipment incentive that will help start-up to grow and export.
Awolowo said the council had concluded plans to organise buyers market all over the world for Nigerian products.
He also sought NACCIMA’s collaboration in driving the zero oil plan, an initiative that would make Nigeria survive in a world economy without selling oil.
He said, “We have 11 non-oil sectors where we can earn foreign exchange and one of them is the petrochemical sector, which is a $150bn global market.
“Nigeria is not playing in this market because it is importing; but we are a petrol economy and that is where the paradox lies.”
According to him, the private sector has taken up the challenge of playing in the petrochemical market.
Alaba-Lawson on her part said that stronger collaboration between NEPC and NACCIMA would be feasible and fruitful.
She appreciated the council’s usual support and its readiness to sponsor 10 Small and Medium Enterprises (SMEs) to attend the 22nd American Food and Beverage Show and Conference slated for October in Miami, United States of America.
The show, according to her, is an opportunity for Nigerian goods to penetrate the global market and create market for the SMEs in line with NEPC’s vision to make the world a market place for Nigerian products.

Related Topics:
Continue Reading

Business

Kenyan Runners Dominate Berlin Marathons

Published

22 hours ago

on

September 22, 2025

By

Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

Continue Reading

Business

NIS Ends Decentralised Passport Production After 62 Years

Published

22 hours ago

on

September 22, 2025

By

The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
Continue Reading

Business

FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

Published

22 hours ago

on

September 22, 2025

By

The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
Continue Reading

Trending