Agric Product Export: Agricultural Products That Top Export Chart in Nigeria (Part 2)

Nigeria exported agro-food items worth N165.27 billion in the second quarter of 2021, representing a 112% increase compared to N78.03 billion recorded in the corresponding period of 2020. This is also the highest on record, according to data tracked from the National Bureau of Statistics .

The recent value also represents a 30% increase when compared to N127.18 billion worth of export recorded in the previous quarter (Q1 2021).

Meanwhile, Nigeria’s agric imports also increased by 56.9% year-on-year in Q2 2021 to N652.08 billion, indicating a trade deficit of N486.8 billion, quite huge for a country blessed with vast land and an agricultural sector that employs a huge chunk of its labour force.

It is imperative to track the items that fetch the country its foreign earnings as a result of its impact on the Nigerian exchange rate, hence these are the top agricultural products exported to other countries.

Top Agric Export

• Cocoa – N63.18 billion
•  Cashew nuts – N42.94 billion
•   Sesamum seeds – N21.64 billion
•   Coconut – N13.02 billion
•   Ginger – N3.75 billion
•   Frozen sea foods – N3.46 billion
•   Brasil nuts in shell – N3.28 billion
•   Natural cocoa butter – N2.44 billion
•   Sesame oil and its fraction – N1.29 billion
•   Palm nuts and kernels – N1.08 billion

 

The growth in agric export means an increase in foreign earnings, which would help boost the country’s foreign reserve as well as relieve the pressure on the exchange rate. However, the continuous negative trade balance, indicates more pressure as Nigerians will continue to search for scarce forex in order to import items that would have been produced locally.

Summary

Nigeria is a country immensely blessed with rich soil texture idle for the practice of crop production; however, we are unable to produce as much for our domestic consumption not to mention receiving adequate export value for our agro products.

It is no news that there is an international demand for most of Nigeria’s agro products; however, Nigeria spends more importing agricultural products from other countries.

Some of the major bottlenecks impeding the expected growth in the agricultural sector, despite huge monetary interventions in the sector in recent years, include logistic problems, infrastructure, amongst others.

According to a PWC report on the current state of Nigeria’s agriculture and agribusiness sector, Nigeria has significantly poor transport infrastructure and services (road and rail), particularly in the rural areas.

It also identifies the lack of cold chain logistics as a factor contributing to the decrease in trade capacity through losses from spoilage and impinged time to market.

The limited capacity of Nigeria’s seaport has also affected the ease of cross-border trade.

Finally, there is a need for Nigeria to improve its agricultural production so as to tap into the large foreign exchange that could come into the country through the export of these items.

 

 

Made in Nigeria Goods Export and Exhibition Conference 2022 in Madrid, Spain

The Made in Nigeria Goods Export and exhibition conference 2022 is a program jointly powered by Barcelona Chamber of Commerce, Globe Chamber of Commerce and Made in Nigeria Product Export Club of Nigeria, to give Nigerian participants the recognition and opportunity to showcase and  promote their products internationally. 

The Made in Nigeria Goods Export and exhibition conference 2022 will bring together leading manufacturing organizations, leading economist, business leaders, business executives, policymakers and trade development officials to address business competitiveness issues and profile Export.

 

The Made in Nigeria Goods Export and exhibition conference 2022 will also provide a forum for exporters to connect with the wide range of export resources available in Nigeria as well as Africa while learning about issues that impact their day-to-day operations.

 

The Made in Nigeria Goods Export and exhibition conference 2022 will again be an event that will include an exhibit area featuring government, non-profit and private sector service providers serving the export community. The Conference will also feature a lineup of workshops, panel discussions and special addresses on a wide variety of export-related topics.

 

The Made in Nigeria Goods Export and exhibition conference 2022 will be Jointly powered by Barcelona Chamber of Commerce, Globe Chamber of Commerce and Industry and and Made in Nigeria Product Export Club of Nigeria.

 The Made in Nigeria Goods Export and exhibition conference 2022 will be explosive.

For enquiries, please call or visit any of Globe Chamber of Commerce Offices:

Abuja

Edo - house, suite 5-05, fifth floor, central business district,

Abuja.

+234(0)9123680478

+234(0)9123824798

+234(0)9074484983

Rivers State

#6 Omerelu street, GRA Phase 1, Port Harcourt, Rivers State, Nigeria.

+234(0)8161261262

+234(0)7010882314

+234(0)9080088327

The aforementioned is brought to you, courtesy of Globe Chamber Business Time.

Globe Chamber Business Time is an online news platform of Globe Chamber of commerce and Industry that focuses on business development, Investment, trade, economic exchange and development. 

Follow Globe Chamber Business Time on twitter, LinkedIn, and Nairaland for your one stop news update! 

About World Trade Summit and Expo 2022

 

 

World Trade Summit and Expo is designed specifically to promote and facilitate international trade between businesses stationed in the various continent of the world; to facilitate foreign direct investment, and to provide a platform for businesses to expand into new markets.

World Trade Summit and Expo will bring together key economic players from several countries including government delegations, project developers, international investors new and established business men and women representing a wide range of sectors for an invaluable time of practical advice and guidance on growing their exports and entering new markets. This expo will bring together some of the most knowledgeable and influential speakers on the key issues that impact international trade in the business space.

Participants will walk away armed with the knowledge and connections to take their businesses to the next level, while sponsors will benefit from direct interaction with their target market.

The World Trade Summit and Expo will bring together over 2000 top business men and women from across the world to benefit from a truly interactive summit which will be taking place in designated city, which will encourage direct peer engagement, for more advanced deal-making, co-investments, strategic partnerships, and business networking.

The World Trade Summit and Expo will be powered by Globe Chamber of Commerce and Industry and supported by some world Trade leading Organization.

Stay tuned as more update comes your way!

B2B: Nigeria Bilateral Economic Forum 2022

 

Nigeria Bilateral Economic Forum 2022 is a business to business (B2B) Forum and Conference which will be organized by Trade Nigeria in Partnership with Globe Chamber of Commerce and Industry.

 

Trade Nigeria is an organization that take pride in trade events, expos and conferences and facilitates Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) in Nigeria, thereby improving the local economy.

 

The Nigeria Bilateral Economic Forum is a business to business (B2B) Forum and Conference will bring together Companies and Industries involved in the manufacturing process of household goods, consumer products, automobiles, agriculture, textiles, footwear, wood, paper products, soap, paint, pharmaceutical goods, ceramics, chemical products, tires, tubes, plastics, cement, glass, milled grain, vegetable oil, meat products, dairy products, sugar refined, soft drinks, beer, cigarettes...among others...

 

Business organizations, Manufacturing Companies and Industries are encouraged to participate in this Forum and Conference which will present issues the business organization and manufacturing industries are currently facing as it is a public private joint partnership with Government solemnly for the purpose of business growth and development in all round business sectors.

B2B Forum and Conference will bring market and investment opportunities to the manufacturing Industry, It will facilitate investment opportunities within Nigeria and provide support to Local Traders, Investors and Manufacturers in Nigeria.

 

Stay tune as more update comes your way!

For enquiries; see the leaflet.

How Technology is Affecting Modern Businesses

 

Accepting new technologies has become a significant facet in the development of businesses in modern times. In order to grow in the market, businesses have to be dynamic. The adoption of new tech innovations has enabled businesses to manage business operations very efficiently. The marketing on the internet has also become more emphasized as a special target market can be reached through new digital tools.

Among all the new innovations, the role of artificial intelligence (AI) has become more important. This technology helps businesses to save money as well as time whether it comes to marketing or operating various activities of the businesses. Here, we are going to show you how technology is very essential for modern businesses.

 

Businesses Benefitting from Technology (AI)

Every business that is residing on the internet to serve the consumers is going to take advantage of AI tech. The concept of digital marketing mainly depending on artificial technologies and apart from that, it can bring many operational benefits as well. The Arts & entertainment sector, education sector, information & communication, healthcare, financial services, and the gaming sector are among the main business sectors that are taking the most benefits from artificial intelligence.

Emerging businesses like online sports books and online casinos are using AI tech optimum to reach the target market and offer the best and suitable game proposals to the customers. Gaming sites like Wink Bingo are witnessing impressive successes by diverting customers to the online platform to play games like bingo. This all has become possible through the use of modern artificial intelligence. It helps all the businesses to focus on the target market and eventually convert them into customers. Once the marketing has been done successfully, it helps to suggest the most suitable options available at any business.

Different Roles of AI in Businesses

AI can help the business in several ways. Here are some of the benefits that artificial intelligence offers in order to grow the business:

 

Sales Performance Analysis

Sales are essential in the business, especially if you are just starting out. There are various tools that artificial intelligence uses to evaluate emails, calls, or conferences to analyze what has worked and what has not in order to improve strategies when selling. For instance, these platforms compare the sales techniques used by the salespeople of the business, analyzing variables such as the chosen vocabulary or the time spent talking or listening to the customer. With this, the most effective techniques for attracting clients can be established to be carried out by the rest of the team.

 

Improve Customer Experience

The role of AI is not only limited to marketing and operations because it also helps to enhance the customer experience. AI apps collect and analyze data of the customers and present very detailed information about every consumer group. All this allows businesses to personalize offers for the customers by adapting the product or service to their needs and increasing their degree of loyalty to your brand, or improving your help channels to generate faster responses to their requests or needs.

 

Reduces the Possibility of Errors

Artificial intelligence, as an automated tool, is much less prone to making mistakes than humans. When it comes to performing monotonous and routine tasks, people lose concentration, due to exhaustion or overload, as the hours go by and that is why we make mistakes that would affect the company. This is not the case with artificial intelligence operations systems that reach a response and service accurately. Since AI mages to process a lot of data and use it for decision making, the chances of occurring mistakes are minimal.

 

Virtual Assistants

This is another role of AI to enrich the customer experience. Virtual assistants are created with the help of AI tech so, they make communication between businesses and customers easy. It helps to solve customers’ queries and carry out certain actions. In order to make communication more reliable and error-proof, data should be processed in a large amount.

 

Smart Advertising

As we mentioned earlier, most businesses are using AI for marketing. Social media marketing and digital marketing through keywords and consumer searches are part of smart marketing by artificial intelligence. This helps the businesses to reach potential customers who would be interested in the goods or the services of the businesses.

 

It Saves Money and Time

As a business owner, one has to focus on multiple things and with the help of artificial intelligence, some of the many tasks can be done automatically. This not only reduces the manpower requirements but also helps to save a lot of time as well. Thus, the businesses can perform other more interesting tasks, increasing the overall productivity of your business.

In the long term, it will help to enhance the productivity of the business without requiring more time and financial investment.

 

 

 

Nigeria @62 National Day Awards at the Nigeria Bilateral Economic and Investment Forum: 6 countries in 62 days!

The Nigeria @62 National Day Awards are a means of recognizing various forms of merit and service to Nigerians.

 

Trade Nigeria is pleased to announce that several awards will be conferred to individuals for their exceptional achievements, their various victory and successes that have moved the entire nation and inspired young citizens and Nigerians to set new goals, reach for their dreams and pursue their aspirations.

 

This year’s award will be held in 6 different countries in 62 days, according to the organization’s website. 

 

The event which will also be merged with other activities to promote unity between Nigeria and the listed countries will feature, bilateral economic forum, Nigeria documentary from 1960 till 2022, Fashion Expo, textile and leather exhibitions, bilateral football match and lots more, according to official sources from the organization.

 

 “We have endless opportunities to sell Nigeria to the world and our organizations are taking advantage of that to put our great Nation on the global map”, according to the chairman of the organization, Hon. Nwabueze Buchi George.

 

He further stated that beyond the promotion of bilateral trade and investment between the listed countries, the event will also mark some outstanding individuals and groups for recognition at the award ceremony.

“To those that their achievements have brought tremendous pride to the country, the Nigeria National Day Award is a well-deserved recognition of their contribution to economic excellence and for their impact on the society, particularly on youth development”, he added.

 

“We work, build and also celebrate outstanding people, so they can do more. It is a unique event where Nigeria’s 62 years of independence will be celebrated, while we will also have that special opportunity to look at the areas we need to improve in” he added.

The Awards Ceremony is powered by Trade Nigeria, Globe Chamber of Commerce and Industry and The Government of Nigeria.

 

For More enquiry contact Trade Nigeria at:

 

Edo House, Suite5-05, Fifth Floor,

Central Business District, Abuja.

09074484983

09123680478

09123824798

 

Rivers State

#6 Omerelu Street, GRA, Phase 1.

Port Harcourt.

 08161261262

07056863770

07010882314

 

The aforementioned subject is brought to you, courtesy of Globe Chamber Business Time.

Globe Chamber Business Time is an online news platform of Globe Chamber Commerce and Trade Nigeria that focuses on business development, Investment, trade, economic exchange and development. 

Follow National Mail on twitter, LinkedIn, and Nairaland for your one stop news update!

 

Globe Chamber of Commerce and Industry: About World Economic and Investment Forum 2022

 

The World Economic and Investment Forum is a Trade development and investment conference designed to connecting continents with continents through bilateral trade partnership and economic cooperation.

 According to the organizers, Globe Chamber of Commerce, The World Economic and Investment Forum will be a multi-sectorial business and economic promotion event.

 “The global event will be cutting across agriculture, technology, and real estate. The event is expected to boost these sectors by creating a platform for African practitioners to network with their counterparts in other continents”.

 The statement has it that the event will also cover the mining sector with much emphasis on boosting investment in the listed sectors.

World Economic and Investment Forum 2022 as the event has been tagged, will also showcase Africa’s might in variety of sectors.

 According to the chairman of Globe Chamber of commerce, Hon. Buchi George in an interview said, “While we want to attract investments and also help our people learn the best ways they can improve our economy, we want to also show our partners that we are not empty-handed. They need to know we also have what it takes to make investments blossom”.

                                        

 “Africa is always on the side of give-and-take. That is the real idea of having a bilateral economic relationship with other continents and other nations” he added.

 “The event will be a special one based on the arrangements we are making with all relevant agencies. We want to cover a great deal of agriculture, technology, mining, and minerals, as well as housing and real estate" he concluded.

 

The World Economic and Investment Forum is designed with an itinerary to provide delegates with a platform to meet serious buyers, explore new development opportunities and network with innovative minds, trade experts, Leaders and entrepreneurs.

The World Economic and Investment Forum will also create an outstanding opportunity for global business sector to showcase its innovative prowess and capabilities to Africans.

 

About Nigeria - Poland Shoe Expo 2022 powered by Trade Nigeria

 

The Nigeria - Poland Shoe Expo will be a program powered by Trade Nigeria in partnership with Globe Chamber of Commerce and Industry and supported by some Poland Organizations, top leather manufacturing Industries and Local business organization to showcase and exhibit all kinds of Shoes from Countries around the world.

 

Nigeria - Poland Shoe Expo will provide the right platform for all firms and businesses to market their range of products and services to stakeholders in Africa, Europe and the world’s footwear industry. The Expo will provide an excellent opportunity for savvy enterprises interested in harnessing the shoes and footwear sector around the world.

 

We specifically target exporters of footwear (female shoes, male shoes, children shoes, among others.) products; fashion designers; producers of chemicals and allied products for tannery’s and shoes production; original equipment manufacturers for leather sewing machines, upper sole production, insoles, stitching, finishing and sanding machines etc.; consultants for effluent management, among others.

Exhibiting at Nigeria - Poland Shoe Expo grants you access to all industry stakeholders in the shoes and footwear sectors.

The Expo will attract participation from shoe designers, footwear accessories manufacturers, tanneries, relevant government agencies related to trade and investment, trade and commerce representatives of diplomatic missions in the world, trade and footwear associations, the organized private sector, Over 300+ exhibitors and 85500+ participants are expected at the event. This will make it one of the largest Shoe Expos held.

 

Africa Economic and Investment Forum: An Event to promote and strengthen collaborations and existing opportunities in Africa

 

Africa Economic and Investment Forum is a business and economic event designed to bring business individuals, Trade leaders, stakeholders from all walks of life  together to partner and explore trade and investment opportunities.

The objective of this Economic and Investment Forum is to promote and strengthen collaborations and existing opportunities in Africa and make available a platform for government representatives, investors, private sector representatives, and financial institutions from other continents  to explore investment and business opportunities in Africa as well as mitigate the challenges of the pandemic  which undermines economic prospects.

This Economic and Investment Forum is one of the most concrete and important steps of the value the world attaches to African countries and its efforts to develop and deepen the relations with the African Continent. 

Providing an unrivaled venue for high-level dialogue and networking on issues pertaining to the global community, it will bring together  business leaders from a range of organizations to discuss how to improve the business and investment climate in Africa. Among these are multinational companies, large corporations, small and medium-scale enterprises and confederations, as well multilateral and regional institutions. How to stimulate investments in Africa, notably in key sectors such as agriculture and agribusiness, renewable energy and digital economy. A strong focus on youth and women entrepreneurship, skills development and job creation.

The Africa Economic and Investment Forum will exist to explore and promote the power of Diasporas as a connecting force between cities, regions and continents, between cultures, companies and people. It will be an action-oriented platform aim to: Foster stronger collaboration between Africa – Better promote a shared green and inclusive growth – Uncover new business and social impact investment opportunities – Create synergies between both innovation models. 

leaders from government, business and civil society, young entrepreneurs, activists, social influencers, NGOs and media, gather each year constituting the ‘African Community Network’. Under the theme “In Search for a Common Ground in a post pandemic world”, the Forum will focus on common challenges and issues, sharing initiatives for sustainable solutions, exploiting synergies and promoting business opportunities with mutual benefits.

The Africa Economic and Investment Forum will help to boost Africa’s economy:

·                     create innovative and compelling modern businesses;

·                      increase the capacity for these businesses to compete regionally and globally;

·                      attract both domestic and foreign investment and diversify investor profile;

·                     Contribute significantly to job creation and economic growth.

·                     Enabling and enhancing entrepreneurship and innovation across Africa.

The Africa Economic and Investment Forum is powered by Globe Chamber of Commerce and Industry, in collaboration with Trade Nigeria