NEPC, Diamond bank partner to enhance non-oil export

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By Alex C

Nigeria Export Promotion Council (NEPC) and Diamond Bank plc have partnered to enhance non-oil export.in the light of this, Diamond Bank has come with financing solutions that would enhance this sector of the economy. The bank at the workshop programme held in Lagos discussed financing options and payment methods under international trade.

The Bank and NEPC advised government at all levels to diversify its non-oil export and focus more on the segment to ensure that Nigeria export relations increases in volume and value and penetrate global markets.

Other issues highlighted at the workshop include the strides recorded by the Non-oil export segment in recent times, the regulatory requirements of exportation, and the complexities of international trade and the needs of the parties.

Jude Aniele, head, retail banking, Diamond Bank, was concerned with the speed at which the excess crude account depletes, adding that Nigeria is set for a ‘rough’ times if the government and various agencies fail to recognise the potentials of this segment and focus on it.

In his welcome address, Aniele said the workshop was part of the bank’s efforts at encouraging value addition to on-oil export commodities, adding that the segment has the potentials to create jobs and alleviate poverty.

He said the Bank has a robust regulatory framework that enables them to handle import and export business transactions efficiently without hitches. In addition, the Bank has credit facilities which, is well structured and tailored in line with the ‘behaviour’ of the business.

Olusegun Awolowo, director general of the Council, acknowledged that Nigeria has achieved substantial increase in the non-oil export segment. He said key non -oil sector that contributed to the growth are agro-allied commodities, and beverages among others.

Idoko Sylvester-Onoja, from Diamond Bank, listed some issues bedevilling the non-oil export segment to include, lack of incentives, distribution gridlocks, poor business environment, and poor financing, among others.

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