VOLUME 3 ISSUE 23

for June 2018

have a protectionist agenda. As with an Economic Partnership Agreement (EPA) with the European Union, which it declined to sign, it wants to be sure that the area serves the interest of its members.

Additionally, it fears a surge of imports from the EU through Morocco, which has signed an EPA and applied for membership of ECOWAS. This application has not been welcomed with enthusiasm by some community members (including Nigeria).

“In Kigali, the African Union (AU) also considered a protocol on the free movement of persons and an African passport, which we understand 27 members signed. The more integration on the menu, the fewer diners at the table, “said FBN Quest.

FBN Quest said “claims by the United Nations Conference on Trade and Development (UNCTAD) that tariff removal will boost regional trade looks less exciting when we consider similar broadbrush estimates.”

Excerpt: Business Africa

The Nigerian Export Promotion Council (NEC) yesterday said the country is capable of generating N5 trillion yearly from mining and solid mineral exportation.It regretted that Nigeria is not among the top 10 exporters of gemstone in Africa despite having enormous potential in about 34 different mineral items. Its Executive Director, Olusegun Awolowo who spoke in Ilorin, Kwara State, during a-one day workshop for gold miners, processors and exporters, said the Council would continue to collaborate with

Nigeria may have to do more under its diversification agenda and remove several restrictions to investments if it hopes to benefit from the extended trade deal, Africa Growth and Opportunity Act (AGOA) by the United States, the State Department's Acting Director for Economic and Regional Affairs, Harry Sullivan said during a telephonic briefing on Tuesday.

According to data from the department, Nigeria accounted for a paltry volume of $9 million out of $2.7 billion agricultural exports recorded by the continent to the United States in 2017.

Specifically, Sullivan noted that an increasing number of countries took advantage of the benefits available under the legislation, adding that the low volume recorded in non-oil export was as a result of dependence on oil.Nigeria's oil export to the U.S rose from $3.4 billion to $6 billion.

The U.S. however encouraged Nigeria to liberalize to attract greater foreign investment stating that there are many restrictions to doing business in Nigeria thwarting foreign and domestic investment.

In 2017, African exports of agricultural products increased by 10% to $2.7billion, compared to previous years where non-oil exports increased from $1.3billion in 2001 to $4.2billion in 2015.Overall, trade trend was also positive, with US-Africa trade rising by 15.8% in 2017, from $33billion to $38.5billion, while US exports to Africa rose 4% to $13.1billion and African exports to the US rose by more than 20% to over $24billion.

Excerpt: Agoa.info

Nigeria may lose over 60per cent revenue currently being generated from her seaports across the country when signatories to the African Continental Free Trade Area (AfCFTA) ratify the pact and the common Economic Community of West African States (ECOWAS) tariff fully implemented.

The implementation of common ECOWAS tariff will make Nigeria lose businesses because it means that once a tariff is paid in one country, no other tariff will be paid in any other country in West Africa.

Also, prior to ratification, signatories to the AfCFTA will be looking for more colour on the pledge that the free trade area will move 90 per cent of tariff lines to zero duty.

Analysts at FBN Quest noted that though the lines in question are yet to be identified, the measure is not based upon values or tonnages, “but on the number of lines, we understand.”

Nigeria officially put off signing the framework agreement for establishing the AfCFTA following protests by major labour unions that the deal would harm the local economy.

“The Manufacturers Association of Nigeria is reserving its judgment and adamant that it does not

Nigeria Can Generate Yearly FromN5trMining

Export News:

Nigeria Records Paltry $9m

of Africa’s $2.7b Non-Oil

Export to US

- 1

Export Programme:

Export Business

Clinic and More

- 2

Export Education:

Handling the Critical 5Ps

of Export Business

Success - The Paperwork

- 3

Export Training Products:

Export Business Made Easy

and More

- 3

Export Miscellaneous:

Commodity Prices,

Infographs and Lots

More

- 3 & 4

INS

IDE

TH

IS IS

SU

E

Top NewsDiploma in Export: 3T Impex Commences Admission for Batch-2

NPA Committed to Single Window Operation

How Nigeria Loses Cargo, Revenue to West African Ports

Non-Oil Exports Gets N500bn from Central Bank of Nigeria

Nigeria Records Paltryof Africa’s $9m $2.7b

Non-Oil Export to US

Nigeria May Lose Over60% Port Revenue to

AFCFTA and CommonEcowas Tariff

for June 2018

Page 2.

OTHERHEADLINES

I&E FX window: One Year of

Boosting Nigeria’s Economiy

- New Telegraph

EU: Non-Oil Export Key to

Economic Diversification

- The Nation

VOLUME 3 ISSUE 23

NAGAFF Urges FG over SON

Return to Seaport

- The Nation

www.3timpex.com/diplomaor call 08091244449Source: Tradeinfong.com

Egypt will keep ports running for 24 hours a day, up from 16 currently, to cut “long waiting times” for shipments, Transportation Minister Hesham Arafat said on Wednesday as the country tackles an issue that has cost it millions of dollars.Grain traders over the last year have added hefty premiums on shipments headed to Egypt, the world's largest wheat buyer, partly as a result of soaring demurrage fees – costs borne by suppliers if they fail to unload their ships on time.Traders say the high demurrage fees have resulted from congestion at Egypt's ports and what they describe as a tedious inspection process stalling their vessels, prompting them to add risk premiums of up to $500,000 on individual cargoes.Egypt's state grain buyer GASC set new tender terms in February to cap demurrage fees after major suppliers shunned state wheat tenders.Arafat said the extended port hours would come at no added cost to shippers. He did not specify when the new hours would take effect or how long the new policy would remain in place.Traders said under the current system, shippers could pay for additional time at the port beyond the regular 16 hours.One Cairo-based trader called the new hours a “good move” to avoid extra costs, but said much of the current problem was also tied to a lack of storage space at Egypt's crowded ports, something the new policy would not correct.“Some of the storage areas inside the port don't have enough space to discharge the whole quantities,” he saidExcerpt: Ships & Ports

China overtook the U.S. as the main export market for Vietnam last year, underscoring how the world's No. 2 economy is growing its influence in the region.The U.S. was the top buyer of Vietnam goods for 15 years until it was overtaken in 2017 by China, according to data from the International Monetary Fund. That shift persisted this year with Vietnam's shipments to China jumping 33.5 percent in the first quarter from a year ago, compared with 20 percent to the U.S., according to Vietnam's statistics agency.Vietnam has relied on the U.S. to counterbalance its dependence on China, a dominant neighbor and geopolitical threat in the region. But with U.S. President Donald Trump turning more inward by adopting trade protectionist policies, China is filling the gap with more trade and investment in Southeast Asia.“The center of trade for Asia has clearly shifted to China from the U.S.,” said Eugenia Victorino, an economist at Australia & New Zealand Banking Group in Singapore. “Trade protectionism isn't helping and Asian nations will realize more and more that when it comes to trade, China now punches a heavier weight.”Excerpt: Bloomberg

the relevant government ministry to improve the fortunes of the sector.Represented by the Deputy Director, Production, Samuel Oyeyipo, he said the Economic Recovery and Growth Plan (ERGP) and the 2017 annual budget clearly recognised the enormous potential of the solid mineral sector and the capability of Nigeria to generate at least N5 trillion annually from mining and exportation of Nigeria's solid mineral.He said NEPC would continue to collaborate with the Ministry of Mines and Steel Development by aligning itself with the 'road map for the growth and development of the Nigerian mining industry' as approved in 2016.Awolowo said: “Available record show that Nigeria earned N62.2 billion from the solid minerals sector in 2015, an increase of 24 per cent on the N55.8 billion earned from the sector in 2014, based on yearly report of Nigeria Extractive Industries Transparency Initiative (NEITI).“Similarly, according to figures published by the International Trade Centre (ITC), Geneva, in 2015, world gemstone export was put at $132.6 billion, out of which African countries exported $11.3 billion worth of gemstones. The top ten leading African exporters were Botswana, South Africa, Angola, Lesotho, Democratic Republic of Congo, Zimbabwe, Sierra Lone, Mauritius, Namibia and Tanzania. Regrettably, as listed above, Nigeria is not among the top 20.”Excerpt: The Nation

The Admission for the second batch of Executive Diploma in Export Business Management and Executive Diploma in Export Trade Finance is still in progress. This was announced last week by the management of 3T Impex Trade Academy. This Diploma programme is first of its kind on the African soil and it is in conjunction with the American Institutes of Extended studies.The first batch of the programme started in February 2018 with 13 candidates who are from different sectors of the economy including Banking, Manufacturing and Agricultural and Solid Mineral Sectors. The first batch will conclude their programme by the end of July this year while the second batch will be starting their programme from the first week of June 2018.The classes hold on Saturdays at the 3T Impex Trade Centre in Surulere from 8am. The programme is divided into three modules with each module lasting for a period of two months with an end course test.Knowing fully well that export is the future of Nigeria, the management of 3T Impex has designed this programme to create on one hand, a pool of export trade professionals to manage the budding and established export businesses in Nigeria and on the other hand to develop highly skilled trade professionals that will be structuring export trade finance in different financial institution in Nigeria.If you are thinking of growing your career in international trade, this is a unique opportunity to get an international certificate to justify your qualification after the training programme and open up your career for great opportunities al over the world.To get more information or download the application form, please visit

Diploma In ExportAdmission in Progress for

Batch 2

Egypt Begins 24-HourPort Operation

China Overtakes US asTop Export Market in

OneMore Nation

Page 3.

Free Export LicenceFree subscription to join African Export DevelopmentInitiative (AFED)Guaranteed Contracts for Export (T&C Apply)Export Mentoring Program with 20% discount Free Export Book & Advisory Service.

BENEFITS

CONTACT: 08067476669, 08026782568, 08091244449 tradeacademy@3timpex.com

EXPORTBUSINESSCLINIC

TRAININGFEE

N78,500

Days & Time 9amWeekdays -

April 17th & 18th, 2018Date -

Venue: 3T Impex Trade Center 11D Bola Shadipe StreetAddress:

Off Adelabu Street, Surulere,Lagos, Nigeria.

Weekend - 9am

March 8th & 15th, 2018 Date -

VOLUME 3 ISSUE 23

Export TrainingProducts

businesses.It is interesting to note that an importer can become a supplier of raw material to his suppliers (who is a manufacturer). An importer who imports batteries from a manufacturers can in turn exports waste battery cells and lead ores to them. Those importing chocolate and confectionery can in turn export cocoa beans to the manufacturer. If the item being imported is sugar, the importer can in turn export sugarcane to the manufacturers. If the importer is into the importation of juice concentrates from the manufacturers, he can in turn begin to export fruits to them.

importers in Nigeria.For the import businesses, who are currently undergoing a lot of stress because of the high cost of forex and inadequate forex, here is my suggestion, you can save your business from this financial bleeding and disappointment of your suppliers abroad by simply setting up a special purpose vehicle in your organisation for the purpose of exportation. This challenge therefore creates a unique opportunity for importers to start a new line of business and thereby increasing the revenue base of their

It is a common saying that opportunities go around in overall called work. This statement best describes the current foreign exchange challenge of a lot of importers in the country. The policy of the government on foreign exchange which led to the closure of the Windows for sales (Retail and Wholesale Dutch Auction System), listing of some imported items as being non-valid for foreign exchange and rationing of the weekly sales to importers through the various banks have brought untold hardship on the business of many

Title:

Export Business Made Easy

Speaker: Bamidele Ayemibo

Price: N 5,000

ExportMiscellaneous:

EXPORT ORDERS

LOCAL ORDERS

COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG)

S/N

S/N

PRODUCT

COMMODITY

SPECIFICATION

PRICES

MINIMUM SHIPMENT

UNIT OF MEASUREMENT

1.

2.

3.

1.

2.

3.

4.

5.

6.

7.

PRODUCT SPECIFICATION PAYMENT MONTHLY VOLUME

Zinc Ore Purity 35% 60MT Per Month

120MT Per Month

60MT Per Month

121MT Per Month

60MT Per Month

122MT Per Month

Purity 60%

Purity 30%Lead Ore

Lead Oxide

Zinc Ore

Lead Ore

Lead Oxide

Purity 35%

Purity 60%

Purity 30%Bank Guarantee

Bank Guarantee

Bank Guarantee

Lead Metric Tonne

Zinc

Cocoa Beans

Copper

Tin

Alluminium Bushel

Cotton Pounds

Metric Tonne

Metric Tonne

Metric Tonne

Metric Tonne

USD 2,378.00

USD 3,243.50

USD 2,729.00

USD 6,939.00

USD 22,050.00

USD 2,463.00

USD 84.73

S/N

1.

2.

3.

Importer’s ForexChallenge:

A Blessing in Disguise?New Issue

Title:

Export Business Kit

Speaker: Bamidele Ayemibo

Price: N 50,000

EXPORT NIGERIA CAMPAIGN

tradeacademy@3timpex.com08091244449 www.3timpex.com www.tradeinfong.com

...raising legion of exporters

Targets:

export seminar for religiousFREEorganizations, clubs, cooperative associations, etcObjective:educate, enlighten, empower thepublic and create employment

Page 4. VOLUME 3 ISSUE 23

Infographics

Photo Speaks