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Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

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Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

 

 

Nonye Ayeni, executive director and chief executive officer of the Nigerian Export Promotion Council (NEPC) says Nigeria recorded total receipts of $2.7bn from non-oil exports in the first half of 2024.

Ayeni made the disclosure in Abuja on Wednesday August 28, 2024 while addressing the media at the council’s presentation of its progress report on the non-oil sector performance for the first half of 2024.

 

The figure, she noted, represented a 6.26 percent increase compared to the $2.53 billion earned in the same period in 2023.

 

Nonye Ayeni attributed the growth to “the successful transition of government in May 2023 which brought about stability in the government, increase in demand for Made-in-Nigeria products and initiatives embarked on at the council…to reawaken the consciousness of Nigerians on the need to imbibe an export culture.”

 

Diversification: Nigeria rakes in $2.7bn from non-oil exports in the first half of 2024

She said the growth in non-oil export receipts underlines the ongoing efforts to grow the non-oil sector and diversify the economy from the mono-cultural dependence on oil in alignment with the Industrial Revitalization Plan of the Honourable Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite and the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu (GCFR).
Speaking on some of the initiatives introduced by the council, Ayeni noted that the council has a new mantra “Operation Double Your Exports” with the core objective of “significantly increasing our non-oil exports to improve our foreign exchange earnings and for economic growth and job creation.”
She also cited other initiatives like “Export 35 Redefined” through which the Council has selected the top 20 agricultural products to focus on right from the farm gate through the entire value chain to market access with NEPC CONNECT, the council’s result-driven customer service team facilitating the interaction between exporters and the Council.

Breaking down the product profile and market reach, Ayeni said a total of 211 different products were exported during this period with cocoa beans, urea/fertiliser and sesame seeds as the top 3 products with a contribution of 23.18 percent, 13.78 percent and 11.04 percent of the total non-oil exports for the period. She noted that this is indicative of “a shift from traditional agricultural commodities to more semi-processed and manufactured goods.”
The total volume of exported products stood at 3,834,333.83 metric tonnes thus reaffirming, in her words “the widely held assertion that the non-oil sector holds the key to the revitalization of the country’s economy.”
Nigeria’s non-oil exports were exported to 122 countries spread across Africa, the Americas, Asia, Europe, and Oceania regions. The top 3 destinations were Netherlands, Malaysia, and Brazil based on value with Ghana emerging the only African country in the top 15 global importers from Nigeria.

To reach global markets, Nigerian exporters utilized 19 exit points made up of Seaports, International Airports, and Land Borders. 95.08% of the total non-oil exports were routed through seaports with the South-West and South-South accounting for over 95 percent of the total non-oil exports during the period in review.
Highlighting the contribution of Nigerian manufacturing concerns, Ayeni noted in her address that the top 3 companies by contribution are Indorama-Eleme Fertiliser and Chemical Limited which led with $198.8 million in exports; Starlink Global and Ideal Limited with $184.7 million, and Outspan Nigeria Limited with $177.75 million.
She also singled out other notable contributors to include Dangote Fertiliser Limited and Metal Recycling Industries Limited.
Thirty two banks contributed to non-oil export transactions in H1 2024. Zenith Bank Plc dominated in terms of financial support to the non-oil export sector. The bank handled 43.09 per cent of the total Non-Oil Export Proceeds (NXPs). It was followed by First Bank Nigeria Plc and Fidelity Bank which handled 6.56 per cent and 6.38 percent of Non-Oil Export Proceeds (NXPs) respectively.
Concluding her address, Nonye Ayeni called on Nigerian banks to enhance exporters’ capacity and access to international markets by leveraging the opportunities in the non-oil export sector, particularly in light of the African Continental Free Trade Area (AfCFTA).

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NEW BPP DG COMMITS TO EFFICIENCY AND STAFF WELFARE FOR IMPACTFUL SERVICE DELIVERY

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NEW BPP DG COMMITS TO EFFICIENCY AND STAFF WELFARE FOR IMPACTFUL SERVICE DELIVERY*

*_…begins review of bureau processes to enhance government procurement systems_*

The Director General of the Bureau of Public Procurement (BPP), Dr Adebowale Adedokun, has outlined his vision to drive efficiency, enhance staff welfare, and reinforce the Bureau’s regulatory mandate in alignment with President Bola Ahmed Tinubu’s renewed hope mandate and his commitment to improving Nigeria’s economy. This was made known during an interactive session with staff of the Bureau at the State House Banquet Hall on November 20, 2024. Dr Adedokun emphasised the urgency of delivering results as well as improving trust in the government procurement system to support President Bola Tinubu’s Renewed Hope Agenda, declaring, “Let us work together to get value for money for Nigeria’s developmental processes and achieve President Tinubu’s mandate of making Nigeria’s economy better.”

Furthermore, in a bid to strengthen operational efficiency, the DG also announced key reforms, including introducing Service Level Agreements for the bureau’s processes ensuring that letters are treated within 3 (three) days, and ensuring reports are completed within 14 (fourteen) days. He also highlighted plans to secure a sustainable budget that would improve the working environment and provide better welfare for staff.

Dr Adedokun firmly stated the Bureau’s resolve to uphold its regulatory integrity under his watch. He warned that officers are prohibited from visiting Ministries, Departments, and Agencies (MDAs) unless on official assignments stressing the need for officers of the Bureau to stay above board. He further declared that contractors are no longer allowed within the Bureau’s premises to ensure that officers can perform their duties without undue interference and influence.

Calling for a collaborative approach, the DG urged staff to embody the Bureau’s regulatory values by adhering to procurement guidelines, avoiding delays, and striving for excellence. “As a regulator, you must be seen to be guided by the procurement process,” he stated. He assured the team of an open-door policy, encouraging innovative ideas that could propel the Bureau to greater heights.

The session also featured a visit from former DG, Engr. Emeka Ezeh, OFR, FNSE, who led the Bureau from 2009 to 2016. Engr. Ezeh commended President Tinubu for appointing Dr Adedokun and urged staff to provide their full support to the new leadership. He encouraged staff to focus on leaving a legacy of excellence, saying, “Work in a way that you will be celebrated wherever you go in life.”

Senior Directors, including Engr. Nasir Bello and Engr. Isaiah Yesufu reiterated the importance of supporting the DG’s vision while emphasizing adherence to the Bureau’s operational guidelines. Staff also welcomed the session, sharing their perspectives on improving the Bureau’s operations and pledging their support for the new leadership.

In a related development, Dr Adedokun sought collaboration with the Presidential Office of Digital Engagement and Strategy (PODES) led by its Head, Mr O’tega Ogra, who is also the Senior Special Assistant to the President on Digital/New Media, during a courtesy visit to his office on November 21, 2024. The DG emphasized the need to enhance the Bureau’s public engagement and visibility in line with the all-of-government communications approach being espoused by the PODES.

Mr Ogra congratulated Dr Adedokun on his appointment and highlighted the key role BPP plays in advancing Nigeria’s development agenda. O’tega further expressed his commitment to collaborating with the Bureau in amplifying its communication efforts and ensuring Nigerians understand and appreciate its critical role in national governance.

Dr Adedokun’s leadership marks a new chapter for the Bureau of Public Procurement, focused on accountability, efficiency, and impactful service delivery. His vision aligns seamlessly with the Federal Government’s goals of economic transformation and sustainable development as well as President Bola Tinubu’s renewed hope agenda.

Janet McDickson
Director, Information & Public Relations/Head, Media-BPP

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Abducted Rivers bizman rescued, suspected robber arrested

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Abducted Rivers bizman rescued, suspected robber arrested

 

The Rivers State Police Command said its men rescued a businessman identified as Julius Madabuchi, who was kidnapped by a four-man gang at a filling station in the Oyigbo Local Government Area of the state.

The police said the man was abducted when the miscreants who were driving in a Black Toyota car stormed the area and started shooting discriminately before executing their plan.

The rescue of the man, the police said, followed a distress call sent to the command control room about the activities of the hoodlums on November 17 and immediately mobilised operatives to the scene, saying the abductors engaged the police in a shootout.

The spokesperson for the state police command, Grace Iringe-Koko, disclosed this in a statement issued in Port Harcourt, Rivers State capital, on Wednesday.

 

The statement reads, “On the 17th of November, 2014, at about 2023hrs, operatives of the command received a distress call from the Room indicating that a gang of armed men numbering about four operating in a Black colour Toyota Corolla car shot sporadically and kidnapped one Madabuchi Julius at Sabbath Filling Station, Oyigbo.

“Operatives were swiftly mobilised to the scene and the hoodlums on sighting the police operatives drove off, but they were given a hot chase by the operatives and subsequently intercepted along Egbu Street, Oyigbo and a gun duel ensued between the operatives and the hoodlums.

“The hoodlums could not withstand the police’s superior firepower and eventually abandoned the victim and their operational vehicle with registration number RIVERS PHC 938 AH and escaped. The victim was rescued unhurt and the vehicle recovered. He has since reunited with his family.”

 

The state police image maker however said an investigation is ongoing while concerted efforts are being intensified to apprehend other fleeing members of the gang and recover their operational weapons.

In a related development, Iringe-Koko said the following day, precisely on Monday, operatives of the command acted on credible information, coordinated a covert operation at the St Lorinta Street, Oyigbo and arrested one Gabriel Morris, aged 25, at Mercy Ground in Kom-Kom, Oyigbo LGA of the State.

The state police spokesperson stated, “During interrogation, the suspect confessed to being a member of a syndicate that had been terrorising Oyigbo and its environs in recent times.

 

Iringe-Koko, a Superintendent of Police, listed items recovered from the suspect including one locally made pistol and a quantity of weeds suspected to be Indian hemp.

She added, “Investigation is ongoing, while concerted efforts are intensified to apprehend other fleeing members of the syndicate.

“This successful operation further demonstrates the effectiveness of the Rivers State Police Command in combating kidnapping and all other forms of crime in the state.”

 

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Celebrate Your Wins, No Matter How Small-Prudent Ludidi

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Those who wronged you may never say "I'm sorry" - Prudent Ludidi

Celebrate Your Wins, No Matter How Small-Prudent Ludidi

 

Today, I want to talk about something incredibly important, yet often overlooked: celebrating our wins. Yes, you heard that right – celebrating our wins, no matter how small.

We live in a world that constantly pushes us to achieve more, be more, and do more. We’re always striving for the next goal, the next milestone, the next achievement. And while ambition is great, it’s equally important to acknowledge and celebrate the small victories along the way.

Think about it. How often do you achieve something amazing, only to dismiss it as “not a big deal” or “just part of your job”? How often do you downplay your successes or attribute them to luck rather than your hard work and dedication?

Here’s the thing: every win, no matter how small, is worth celebrating. Every achievement, no matter how insignificant it may seem, is a testament to your strength, resilience, and determination.

Celebrating your wins does several things. Firstly, it boosts your confidence and self-esteem. When you acknowledge your achievements, you remind yourself of your capabilities and potential.

Secondly, celebrating your wins helps you stay motivated and focused. By recognizing your progress, you’re more likely to stay committed to your goals and keep pushing forward.

Thirdly, celebrating your wins fosters a positive mindset. When you focus on what you’ve achieved, rather than dwelling on what’s still to be done, you cultivate gratitude, happiness, and contentment.

So, how can you start celebrating your wins?

Start small. Write down three things you’ve accomplished each day before bed. Share your achievements with a friend or family member. Treat yourself to something special.

Celebrate the tiny victories: finishing a difficult project, trying a new recipe, or simply making it through a tough day.

Celebrate the milestones: landing a new job, running a marathon, or graduating from college.

And celebrate the moments in between: learning a new skill, making a new connection, or taking a much-needed break.

Remember, celebrating your wins isn’t about being arrogant or boastful. It’s about acknowledging your hard work and dedication. It’s about recognizing your worth and value.

Don’t wait until you’ve achieved something “big” to celebrate. Celebrate every win, no matter how small. Celebrate every achievement, no matter how insignificant it may seem.

You are worthy of recognition. You are worthy of celebration. And you are worthy of acknowledging your own strength and resilience!

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