shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Export Warehouses Will Facilitate CBN’s $200bn Target – NEPC

Export Warehouses Will Facilitate CBN’s $200bn Target – NEPC

by Joshua
July 26, 2022
in News

The Nigerian Export Promotion Council (NEPC) says that the recently established Domestic Export Warehouses (DEW) will facilitate the Central Bank of Nigeria’s RT200 Programme.

Ezra-Yakusak

The RT200 Programme was initiated by the CBN in February, 2022, to stimulate the non-oil exports in order to earn $200 billion in three to five years.

Speaking at the presentation of letters to the approved DEW operators in Abuja on Monday, the Chief Executive Officer, NEPC, Dr Ezra Yakusak, noted that the DEW initiative was in line with the CBN’s target of stimulating the Nigerian economy through the non-oil export earnings.

“CBN’s RT200 is a directive to ensure that in the next five years, we should earn $200bn through exports. The essence of DEW is to facilitate export and curb supply-side constraints. So, the DEW is a facilitation process where the CBN policy will be achieved,” he said.

On the Export Expansion Grant, EEG, Yakusak reiterated that N375bn had been approved for exporters and the Minister of Finance, Zainab Ahmed, had written a letter to the president for approval, for onward transmission to the National Assembly for ratification.

According to Yakusak, DEW was set up to provide best practices in storage, fast-track logistics, and facilitate efficient and seamless documentation processes to ensure timely delivery of exportable products.

He noted that the DEW initiative was expected to significantly reduce the cost of doing business for micro, small and medium exporting firms and serve as a one-stop transit facility/ terminal where pre-shipment activities such as fumigation, packaging and aggregation would be done in preparation for transportation and shipment to export destinations.

Read Also:  Australia Bans Liberian-flagged Tanker for Underpaying Crew, Insufficient Food, Water

“We have about two DEW operators that are ready for full commissioning and operations. We have to wait for other agencies because it is an inter-agency collaboration,” he said, stressing that the NEPC had had direct contacts with heads of agencies, making the work easier.

“So far, they have been very cooperative. It is a directive by the Federal Government, and the National Action Plan 7.0 directed specifically that we should ensure full popularisation of DEW,” he said.

One of the DEW operators, who is the Managing Director/ CEO, BOU Nigeria Limited, Eze B.O. Uzuegbu, said for operators to meet the required target, they must produce goods that would meet the global standards.

“We are ready to go, but we cannot manufacture goods that are shipped without being assisted,” he said, urging the Federal Government to set up clusters and assist DEW operators with cheap loans as it was done in Taiwan.

“Our people are excellent in production but poor in finishing. If Zimbabwe, Zambia and other countries can export flowers, I do not see what is keeping us from doing the same,” he further said.

shippingposition

Kindly like us on Facebook/twitter


Tags: NEPC

Related Posts

Dantsoho’s Giant Strides at NPA: Port Reforms, Trade Growth, Maritime Diplomacy Define New Era

Dantsoho Front Lines Human Capital Development As NPA Promotes 1,500 Employees

June 19, 2025
Navy Deactivates 41 Illegal Refining Sites, Impounds Products Worth N8.6bn

Navy Arrests 3 Suspected Oil Thieves In Delta

June 19, 2025
Workers’ Welfare: Maritime union issues 21-day ultimatum to Melsmore

Workers’ Welfare: Maritime union issues 21-day ultimatum to Melsmore

June 19, 2025
Customs Intercept Guns, 1,433 Live Cartridges In Ogun

Customs Intercept Guns, 1,433 Live Cartridges In Ogun

June 19, 2025

Latest News

Dantsoho’s Giant Strides at NPA: Port Reforms, Trade Growth, Maritime Diplomacy Define New Era

Dantsoho Front Lines Human Capital Development As NPA Promotes 1,500 Employees

June 19, 2025

Navy Arrests 3 Suspected Oil Thieves In Delta

Workers’ Welfare: Maritime union issues 21-day ultimatum to Melsmore

Customs Intercept Guns, 1,433 Live Cartridges In Ogun

Maritime Police, Clearing Agents Task Force Forge Alliance to Tackle Port Corruption, Economic Sabotage

Vessels Expected At Lagos Ports As At 18th June, 2025

Adeyanju Commends MWUN Over Election of New Executives of Shipping Branch

IPMAN Urges Reversal Of Truck Parking Fee

NARTO, Maritime Workers Oppose e-Call Up levy

Customs Refutes Extortion Allegation At Lagos Airport

Oyetola Seeks Island Nations’ Backing for Nigeria’s IMO Council Bid

Centre for Marine Surveyors Leads Initiative to Enhance Industry Standards, Regulations

kindly like our Facebook page

Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts
Health

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025

Association of Medical Laboratory Scientists of Nigeria, Lagos State chapter, has raised the alarm over the increasing number of men...

20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025
Some Truths and Myths About Agbo Herbal Concoction

Some Truths and Myths About Agbo Herbal Concoction

April 21, 2025
The Malaise Of Misuse of Antibiotics

The Malaise Of Misuse of Antibiotics

April 14, 2025
Urologist Debunks Breast-Cancer Prevention Myth

Urologist Debunks Breast-Cancer Prevention Myth

April 14, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition