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Transcript of EXPORT MANUFACTURING- a strategic imperative for Nigeria.pptx
Manufacturing For Export.
A Strategic Imperative
6/15/2016
1
DA/ICAN 2016
Objectives
Discuss the opportunities and economics of Export Manufacturing
Explain the regulatory requirements for Export Manufacturing
Identify the strategies for success and compliance
Discuss the challenges and possible solutions
Evaluate available incentives for Export Manufacturing
At the end of this presentation, participants will be able to:-
6/15/2016
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DA/ICAN 2016
Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for Exporters
Case Study/Conclusions
6/15/2016
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4
What is
Hippopotomonstrosesquippedaliophobia
the fear of…………?
“fear of long words”
Phobia the fear of
something.
Participation
What you put in is what you get out
5
"Tell me, I will forget.
Show me, I may remember.
Involve me, I will understand."
~Chinese Proverb
Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for Exporters
Case Study/Conclusions
6/15/2016
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Overview of Nigerian Export
Manufacturing.
• Class Quiz
• Definitions
• Overview
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TRUE OR FALSE!
• Economic growth =
Gross Domestic Product
(GDP) in one year
GDP = total amount of final
goods and services
produced in one year.
Higher GDP = Better the
quality of life
Human Capital = the
Value that humans
bring to the
marketplace
The more capital goods
a country has = the
more money they can
make!
The more entrepreneurs a
country has, the higher the
country’s GDP will be?
1
2
34
5
6
• TRUE
• TRUE
• TRUE• TRUE
• TRUE
• TRUE
Capital Goods :-
All of the factories, machines, technologies, building
and Property needed by businesses to operate.
Every Investments in Capital Goods
impacts the Country GDP.
The More Capital Goods a Country has = The More
goods they can produce= the more money is
made.
Basic Definitions:
• What is an Export ?
An export is a function of international trade whereby goods produced
in one country are shipped to another country for future sale or trade.
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The ability to export goods helps an economy to grow by selling
more overall goods and services.
The sale of such goods adds to the producing nation's gross output.
Exports are one of the oldest forms of economic transfer, and occur
on a large scale between nations that have fewer restrictions on trade,
such as tariffs or subsidies.
Basic Definitions:
• What is Manufacturing?
Any Operation that uses components, parts or raw materials to
make a finished good. These finished goods can be sold directly
to consumers or to other manufacturing businesses that use them
for making a different product.
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Manufacturing businesses in today's world are normally
comprised of machines, robots, computers and humans that
all work in a specific manner to create a product.
Manufacturing plants often use an assembly line, which is a
process where a product is put together in sequence from one
work station to the next. By moving the product down a production
line.
Basic Definitions:
• Export Manufacturing?
Is the production of Goods for Export to earn Value for the
Economy of a nation.
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Using majorly, locally sourced resources./ (Gift of Nature)
Resources described in 5M’s mainly as:
Materials
Value’s are described in
Manpower
Money
Machines
Methods.
Gross outputs/GDP
Basic Definitions:
• Gift of Nature?
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Natural Resources important to Country
This Resources are transformed to produce
Goods and services at cheaper cost.
Countries with more resources can trade them
with other country to make more money for the
economy
Nigeria's Gift of Nature?
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Cement production
Limestones- Ogun state has the largest
deposit, others are Kogi state, Edo
state, Cross River state Enugu state and
Ashaka in Gombe state
Tomato production
Kano, Jigawa, Katsina, Zamfara, Sokoto, Kaduna, Bauchi, Gombe, Taraba.
Nigeria's Gift of Nature?15
Oil Palm production
The main oil palm producing states
are: Cross River, Akwa Ibom, Ekiti,
Delta, Bayelsa, Ogun, Rivers,
Anambra, Ondo, Enugu, Imo, Oyo,
Abia, Edo, Ogun, with Cross River,
Delta, Ondo and Edo
Highest producing states in the country
are : Ondo, Osun, Cross River, Ekiti,
Oyo, Edo, Ogun
Cocoa production
Nigeria's Gift of Nature?16
Bitumen / Oil Sand reserves
Bitumen deposits are found in Lagos State, Ogun State, Ondo State, and Edo State.
Groundnut production
Niger, Kano, Jigawa, Zamfara,Kebbi, Sokoto, Katsina, Kaduna, Adamawa, Yobe, Borno, Taraba, Plateau, Nasarawa, Bauchi, and Gombe States
Basic Definitions:
A company which apart from manufacturing certain
products is also exporting the product.
This company might sell the same product for local
consumption but also sells the same in other
countries too for profit.
Examples: Dangote , Unilever, 7UP, PZ etc.
• Manufacturing Exporter ?
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Facts : Nigeria’s non-oil export up by 50% –NEPC
Product FOB Value
1. Cocoa & Cocoa Preparations $417,900,987
2. Processed Leather $333,011,697
3. Rubber $143,871,586
4. Cashew Nuts & Edible Fruits $55,363,190
5. Plastics, Polybags $53,491,233
6. Sesame Seeds & Oil $104,054,165
7. Aluminum & Articles $64,022,090
8. Sea Foods $48,141,669
9. Cotton Yarns & Woven Fabrics $31,754,740
10. Gum Arabic $37,154,951
11. Others $539,934,012
Nigeria earned a staggering $3 Billion from
non-oil exports in 2011. About N468 Billion.
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Facts: NBS Reported - 2015 Wasn't Bad for
Manufacturers
Sector contributed N8.97 trillion to the nation's economy in 2015,
Up by N28 billion compared to the N8.69 trillion in in 2014 (GDP).
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Oil refining dropped N248.02B in 2015 vs N385.82B in 2014.
Cement production N749.93B in 2015 vs N604.61B in 2014.
Food, beverages and tobacco N4.29 trillion in 2015 vs N4.24 trillion in 2014.
Textile, apparel, and footwear N1.87 trillion in 2015 vs N1.82 trillion in 2014.
Facts:• Nigeria Manufacturing Activities ..!
Have significant impact on the economy of a nation.
Accounts for a substantial proportion of total economic activities.
Accounts for about 10% of the national GDP annually
Creates employment about 12% of the labour force in the formal sector of
the nation’s economy.6/15/2016
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Export Manufacturing – A strategic Imperative?
The ‘zero oil’ plan and
an export revolution
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The Nigerian Case.!
Nigerian Case Story - An export revolution and the Zero Oil Plan.
• Oil is down! Pressure on the Naira! Slowing growth! What will Nigeria’s response be?
• This is the chatter all across the country on shop floors, in markets, within business
circles, and in classrooms.
• A close look reveals we may be focusing on the symptoms and not the cause.
• Nigeria does not have an oil price problem, Nigeria has a “failure to export” problem!
• We have little control over the ups and downs in global crude oil markets
• What we do control however is what Nigeria chooses to export, and where we choose to
make money internationally.
Export Manufacturing – A strategic Imperative?
6/15/2016
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“Nigeria must begin to behave as if we have no more oil”. –PMB 2015
• Hence the need for a Zero Oil economic agenda, essential to build a strong Nigerian
economy for the future.
• For years Nigeria has imported thousands of goods worth over US$50 billion a year,
which we pay for mainly with crude oil proceeds of over US$70 billion each year.
• In the past two years crude oil prices have fallen 60% and Nigeria’s earnings have
likewise fallen by at least US$35 billion, inevitably leaving a financial hole in the
economy.
Export Manufacturing – A strategic Need?
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• The pressing question now is how to fill this funding gap- and the answer is simple:
• Nigeria must find new things to export quickly, in large commercial scale.
If Nigeria broadens and grows its export basket, a positive chain reaction ricochets throughout
the economy.
The logic follows – when you grow exports, national output (agriculture, industry, solid
minerals) will also grow; local businesses will grow; supporting infrastructure will expand; and
jobs and investments will definitely follow.
The overall macro impacts result in growing foreign reserves (from export forex) and a more
resilient economy is assured.
Export Manufacturing – A strategic Need?
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• Our country for decades has primarily exported one product, crude oil, which really is
a perishing asset.
• It is for this reason that the government prioritizes Nigeria’s economic diversification.
• – the Zero Oil plan.
• What else could we export? Who would buy? How much could we make?
• These are the questions to be answered under any roadmap to change this
age-old dependence on one single export commodity.
Export Manufacturing – A strategic Need?
6/15/2016
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Export Manufacturing:
- How are we focusing local efforts with
Industrialization.?
The NIRP is promoting Nigeria's industrialization:
Focusing on labor intensive low and medium technology manufacturing
Building up core base industries that are essential for advanced industries.
Using the large Nigerian market demand to deepen industrial capacity of local
firms.
Strategically using key manufacturing sectors as technology drivers of the
economy 6/15/2016
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6/15/2016DA/ICAN 2016
27 #Budget 2016- Current Nigeria Plan
Exporting- What are the Basic Requirement.?
1. Registered Business name and Office
2. Registration with the NEXP
3. Registration of Form NXP
4. Special licenses and permits-Local
5. Licenses from target foreign country
6. Tax certificates
7. Insurance covers 6/15/2016
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6/15/2016DA/ICAN 2016
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“The best way to predict the future is to
invent it.”- Alan Kay, father of the personal computer
6/15/2016DA/ICAN 2016
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- Vince Lombardi
“Dictionary is the only place
that success comes before
work.”
Where Can you find success
before work.????
Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for
Exporters
Case Study/Conclusions6/15/2016
31
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6/15/2016DA/ICAN 2016
32
Men cannot not live by exchanging articles, but
producing them. They live by work not trade.
- John Ruskin
WEF- Productivity and Prosperity Report
SWOT
SECTORIAL OPPORTUNITY
CURRENT FOCUS
HOME MADE CONSUMPTIONS
Opportunities in Export Manufacturing:
Global Competitiveness Index:
Top 9 in Africa
9243
58
71 99
96
TunisiaSouth Africa
Ivory Coast Kenya
Rwanda
Botswana
Morroco
Algeria Zambia
91
72
87
Global Competitiveness.
- the 10 Golden Rules..!
Provide a stable and
predictable legislative
environment
Maintain linkage between wage
levels and productivity
Create a flexible and
resilient economic
structure
Ensure quality, speed and
transparency of governance
Make investments in traditional
and technological infrastructure
Make the country an attractive
place for Foreign Direct
Investment
Encourage private savings
and domestic investment
Make the country an
aggressive exporter
34
Invest heavily in
education and regular
training of workforce.
Maintain a balance
between local and
global activities.
Source:www.imd.ch
35
•Abundant raw materials , ~ 44 solid minerals in commercial quantity
•Large market, ~ 170m,
7th most populated in the world , /#4 by 2050,
USD100bn consumer spend pa
•Strategic location (Gulf of Guinea)
•Abundant labour, ~ 69m, largest in Africa
•International /regional political clout
Opportunities in Export Manufacturing: Analysis
Current STRENGTHS
6/15/2016DA/ICAN 2016
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•Infrastructure deficit/high cost of doing business
•High interest rates/ cost of capital
•Policy inconsistency
•Few/No institutions to drive industrialization
•Low industrial skills and innovation
•Low consumer purchasing power
•Low patronage of ‘Made in Nigeria’ goods
Opportunities in Export Manufacturing: Analysis
Current WEAKNESSES
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•Potential to be #1 in Africa
•Build up labour-intensive sectors.
•Produce locally for domestic consumer market
•Become the manufacturing hub for Ecowas & Africa
•Attraction of Investments
•Diversified Exports
Opportunities in Export Manufacturing:Analysis
Current OPPORTUNITIES
6/15/2016DA/ICAN 2016
38 Opportunities in Export Manufacturing: Analysis
Current THREATS
•Recent large oil/gas discoveries globally
•Increased competition on industrialization
•Trends in trade policies – globalization & regionalization
•Insecurity6/15/2016DA/ICAN 2016
Opportunities in Export Manufacturing:Agriculture
Agro Allied
Agro Processing
Raw materials
Processed and Packed Foods Live stocks
Beverages
Food and Drugs
Metals and Solid Minerals Iron ore
Coal
Bitumen
Petro Chemicals( oil and Gas Related.)
Light Manufacturing and Constructions
We abandoned agriculture, for petroleum;
Now, we have to go back – Buhari6/15/2016
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Opportunities in Export Manufacturing:
Development and Growth Opportunity Micro/Small/Medium Enterprise.
Nigeria Current Focus Solid minerals
Agriculture.
NEPC Researched and confirmed Nigeria has
Over 5000 Exportable Products.
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Opportunities in Export Manufacturing:
Nigeria Focus- Solid minerals and Agriculture.
Nigeria can generate N5trn annually from solid minerals
— Ass of Metal exporters/ Vangaurd News 2016
Nigeria’s global agriculture exports could take-off at a rate
similar to Brazil’s, with $59 billion in export revenues by 2030.
- PwC report.
If we take agriculture seriously and deliberately build our
capacity in production, processing and marketing of
agricultural products, we can generate and earn $40bn
annually as revenue.”
-Experts
We abandoned agriculture, for petroleum;
Now, we have to go back – Buhari6/15/2016
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Nigeria exports primarily crude oil and gas.
Importing value-added petroleum based
products.
Therefore, enormous opportunities exist for the Oil &
Gas sector Export Manufacturing. Investing heavily in
Petrochemicals, Methanol, Fertilizers, Refineries, and
other Gas based processing activities is Imperative.
Nigeria Oil and Gas.
Opportunities in Export Manufacturing:
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Will you buy
Made in Nigeria Goods?
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#Charity Begins @ Home…!
Do we want made in Nigerian Goods.?
NOI recent public poll suggest YES…!
About 97 per cent of Nigerians
have said they would buy locally
made products in order to
strengthen the country's
economy.6/15/2016
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#Charity Begins @ Home…!
Do we want made in Nigerian Goods.?
NOI recent public poll suggest YES…!
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#Charity Begins @ Home…!
Do we want made in Nigerian Goods.?
In conclusion,
This poll has clearly revealed some cheering findings indicating the willingness of
Nigerians to buy made in Nigeria products.
Economic climate for local manufacturers needs focused Improvements.
Power and support Infrastructures.
Limited access to credit
High cost of funds.
However, with concerted efforts on policies targeted towards the power sector,
access to finance and currency stability, the manufacturing sector may be able to
bounce back from the woods.
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Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for
Exporters
Case Study/Conclusions6/15/2016
48
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What are the Incentives and Economic Benefits
of Exporting Nigerian Manufactured Goods.?
Macro Economic Goals.
Employment Generations
Infrastructural Expansion and development
Technology Development
Tax Incentives
Export grants ie Export Expansion Grant6/15/2016
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What are the Incentives and Economic Benefits
of Exporting Nigerian Manufactured Goods.?
Export Expansion Grant:
Created to complement export promotion drive.
Supported by an ACT of Law since 1986. -Export Incentives and Miscellaneous
Provisions Act detailed as
•Export Development Fund
•Export Expansion Grant
•Export Adjustment Scheme Fund
Export Expansion Grant (EEG) is still Operational and administered by the Nigerian
Customs Service (NCS).
EEG is issued to non-oil exporters to reduce production, distribution and logistics
(Production) costs which will enable them compete effectively in the international
market.
6/15/2016
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What are the Incentives and Economic Benefits
of Exporting Nigerian Manufactured Goods.?
Export Expansion Grant:
The grant ranges from 10 per cent to 30 per cent of the Freight On Board value of the
products being exported with a confirmation that the export proceeds have been
repatriated.
The amount received by the exporter also depends on the categorization of the
exporter among others.
EEG was paid to beneficiaries in cash.
From 1999, the grant came in form of Negotiable Duty Credit Certificates (NDCCs)
issued by the NCS.
The NDCC is a negotiable instrument that can be used to settle or reduce import and
Excise Duties. 6/15/2016
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Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for
Exporters
Case Study/Conclusions6/15/2016
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The Challenges of Export Manufacturing
Includes: Capital
High cost of fund
Lack of long term facility
Government Policy.
Enabling Environment
Investment Promotions and Incentives
Product Standards and Local Patronage.
Processing and Packaging
Safety and Quality standards.6/15/2016
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Skills and Technology
Industrial Skills
Machinery and Technology acquisitions and exploits
Infrastructural Deficit
Power, Power and Power.
Transport- Rail, Road and Sea.
Export Rules and Regulations
Business rules and regulations
Legal requirements
The Challenges of Export Manufacturing
Includes:
6/15/2016
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Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for Exporters
Case Study/Conclusions
6/15/2016
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Export Manufacturing- Practical Strategies
for Success and Compliance
Establish Manufacturing Centers
• Focus Small-Medium-Large Industries
• Focus on simple to complex products
• Satisfy local markets before others.
• Exploit Export processing platforms.
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Export Manufacturing- Practical Strategies
for Success and Compliance
Exploit Trade Shows and Manufacturers forums
• Platform to brings together All stake holders
• Producers platforms for best practice and common
challenges.
Expand Research and Focus Product Presentations
• Designs and Packaging
• Safety and Quality Standards6/15/2016
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Exploit and Follow Governance Requirements.
• Export Documentations and Regulatory compliance (eg SON)
• Export Promotions
Explore and Exploit Globalizations and Technology
• Adopt Global Best practices
• Use and Exploit Technology
• Deploy Representations and administrations in Foreign markets.
• Education, Research and Training for Highly Skilled Labor
Export Manufacturing- Practical Strategies
for Success and Compliance
6/15/2016
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The SON Certifications:
Before a product is certified for local consumption or for export, it is
required that such product should pass through what we call
Mandatory Conformity Assessment Programm, MANCAP (Local
product),
Standard Organization of Nigeria Conformity Assessment
Programm, SONCAP, (Importing and Exporting standards).”
To assure credibility and values for
acceptance in the global market
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The SON Certifications
The Conformity exercise combines document verification, sample collection for lab
analysis, and physical inspection to assess the conformity of each shipment. If
conformity is established, a mandatory Certificate of Conformity (COC)
The certificate prevents the shipment from being rejected and allows importers to
clear their goods efficiently.
To assure credibility and values for
acceptance in the global market
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The SON CertificationsConformity assessment programs provide
numerous advantages for both Governments as well as exporters and importers.
For Governments
Eliminates customs bottlenecks in importing country
Reduces storage issues at ports
Guarantees all imported products are compliant with international & local standards
Reinforces consumer safety
Builds local customs competencies through training and capacity building programs
Ensures conformity with WTO Technical Barriers to Trade agreement
For Exporters / Importers
Faster Customs clearance
•Reduces need for local laboratory analysis or additional testing
•Offers better consumer protection against dangerous, substandard or counterfeit products
•Protects local industry from unfair competition due to poor quality imports6/15/2016
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Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for Exporters
Case Study/Conclusions
6/15/2016
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Best Practices – Using Resources Available for
Exporters-On hand help from NEPC
1. Provide a list of Exportable Products
2. Provides technical support to exporters in the following areas
•Ensure proper documentation of export transactions
•Business Registration and inclusion in data base.
•Quality and Standards- monitors the quality and standards of products.
•Payment-: helps suggest the best and most secure payment methods.
•3. Organize Trade Fairs and Exhibitions
.
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Best Practices – Using Resources Available for
Exporters- On hand help from NEPC
4. Bring Exporters together
5. Provides information on product sourcing
- information on where to find exportable products in Nigeria.
6. Administer Grants and Incentives
- Registered Exporters can easily access grants
-Exporters of agricultural products receive a lot of incentives regularly.
7. Help to simplify the export procedure
- Mostly for starters.
.
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Best Practices – Using Resources Available for
Exporters- On hand help from NEPC
.8. Carry out research and studies
- regular studies and research.
9. Help to solve problems
-go-to agency for complaints and solutions.
10. Create awareness and publicity
- local and international advertisements.
11. Provide Financial Support
- useful information on where to get loans easily.
-May also give guarantee on loans.6/15/2016
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Contents
Overview of Nigerian Export Manufacturing
Opportunities in Export Manufacturing
Incentives and Economic Benefits
Managing the Challenges of Export Manufacturing
Practical Strategies for Success and Compliance
Best Practices – Using Resources Available for Exporters
Case Study/Conclusions
6/15/2016
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The Ghana Case Of Cocoa
The cocoa industry has been the mainstay of the Ghanaian economy and provides the second
largest source of export earnings representing about 30 percent of Ghana's total export earnings.
Ghana is presently the world’s second largest producer of cocoa beans, after the Ivory Coast.
According to the Bank of Ghana, cocoa bean and products export receipts for the first quarter of
2011 is $859.4 million, accounting for about 61 percent of total export earnings as compared with
$682.5 million at 48.8percent in 2010.
Source: Annual Cocoa Report 2012.
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Manufacturing will remain the strongest differential when countries are rated on their
competitiveness.
Trend In Global Manufacturing.
“Manufacturing competitiveness, increasingly propelled by advanced
technologies, is converging the digital and physical worlds, within and beyond
the factory to both customers and suppliers, creating a highly responsive,
innovative, and competitive global manufacturing landscape,”
--Craig Giffi, Deloitte US Consumer & Industrial Products Industry group
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Trend In Global Manufacturing.
The Manufacturing sector contributes over 17% of the world’s US$ 70 tr
economy, & accounts for over 70% of global trade.
Poor countries start off by employing the bulk of their population in agric.
To transition into middle income/developed markets, there is need to
create a robust industrial & services sectors, which are the drivers of
mass employment, improved skills, & better wages, providing the
foundations for long run sustainable economic growth & advancement
Increasingly the manufacturing sector drives the creation of service sector
jobs. In advanced markets, 30% to 55% of service jobs are related to the
manufacturing sector. 6/15/2016
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Trend In Global Manufacturing.
The 2016 Global Manufacturing Competitiveness Index forecasts that the top eleven countries
will remain consistent between now and 2020, with some exchange of rankings.
6/15/2016
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Summing Up:
Strategically, Export Manufacturing has more sustainable
Potential to Grow the Nations Economy.
Grow and Sustain the nations GDP
Create sustainable Employments
Create relative Currency Strength(Value).
Foster Developed Infrastructure.
Stop Rural –Urban Migration and create even development
Foster Human Capital Development to match needs
Promote acquisition and expansion of Skills and Technology
Fo
cu
sin
g o
n E
xp
ort
Ma
nu
fac
turi
ng
wil
l C
rea
te In
du
str
ies
……
!
6/15/2016
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Summing Up:
Strategically, Export Manufacturing has more sustainable
Potential to Grow the Nations Economy.
Industry Multiplies Nations
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73
What..When..Why..?#WWW??
“If you’re not confused, you’re not paying attention.”
-Tom Peters
END:
Thank You.
Engr Dele Abioye MNSE
6/15/2016
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Data and References Acknowledgements.
NEXIM- Nigerian Import and Export Bank
BOI- Bank Of Industry
SON- Standard Organizations of Nigeria.
MAN- Manufacturing Associations of Nigeria.
NAFDAC-National Food and Drug Admin. Control
NEPC-Nigerian Export Promotion Council
NBS- Nigerian Bureau of Statistics.
NIRP- Nigerian Industrial Revolution Plan
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