Why Nigerian Exports Are Not Attractive: By Exporter

Lack of expertise in the production and export of Nigeria’s Gum Arabic products has been identified as an impediment to the growth of the multi-million dollar potentials of the Gum Arabic trade in the country
Co-Ordinator of Jigawa State -owned Gum Arabic Company (JIGACO) Alhaji Abdulazeez Usman Abubakar made this known in Gombe, Gombe state  last week at a one- day sensitization workshop on Successful Exportation of Gum Arabic to Foreign Markets organized by the Cargo Defence Fund; an initiative of the Nigerian Shippers Council.

Lack of expertise in the production and export of Nigeria’s Gum Arabic products has been identified as an impediment to the growth of the multi-million dollar potentials of the Gum Arabic trade in the country
Co-Ordinator of Jigawa State -owned Gum Arabic Company (JIGACO) Alhaji Abdulazeez Usman Abubakar made this known in Gombe, Gombe state  last week at a one- day sensitization workshop on Successful Exportation of Gum Arabic to Foreign Markets organized by the Cargo Defence Fund; an initiative of the Nigerian Shippers Council.
He said that although Nigeria was second only to Sudan in the global production of Gum Arabic, the issue of product quality still besets its pricing in the international market, adding that with a little effort in processing, the nation stood to maximize its foreign exchange earnings in this regard.
Alhaji Abubakar also decried the practice whereby some exporters intent on maximizing profits will adulterate product and pass them off as of higher grades.
Also speaking at the seminar, a Consultant, Dr Olusegun Awolumate,  in his paper entitled “how to avoid  pitfalls and  common problems in International trade” highlighted these to include: unethical practices among parties involved, price volatility and unprofessional negotiation of contract price and inappropriate payment methods such as non-banking transactions.
He however counselled that, to avoid these, small scale investors who are more vulnerable to international trade frauds must take close stock of their respective capacities before commencement of either import or export business.
Dr Awolumate also noted that where small scale investors lacked the requisite knowledge and capacity to engage in the transactions themselves, they should ascertain if they can hire the services of trained and trusted experts to execute these on their behalf
Earlier in a welcome address, Chairman of Cargo Defence Fund, Capt. Cosmas Niagwan had urged Nigerian businessmen to continually play by the rules in their international trade transactions, since according to him, claims recoveries from foreign partners can only yield positive results when they are legitimate.