Nigeria generates N1.56tn from leather, cocoa exports annually ' NEPC

The Executive Director, Nigeria Export Promotion Council, Mr. David Adulugba, has said that the country generates $10bn (N1.56tn) from the export of leather, cocoa and other commodities annually.He also said the council would ensure that the figure was doubled by next year through unrelenting efforts aimed at diversifying the countrys economy.Speaking to journalists shortly after inaugurating the N11m data centre financed by the council but built by Skyward Research and Consulting Limited in Lagos on Wednesday, Adulugba said other exportable products contributing immensely to the countrys export revenues included cashew nuts, sesame seeds and soya beans, among others.According to him, the nations finished leather is doing well in the international market, which explains why it makes significant contributions to the countrys export income.He said, "As I am speaking to you and according to the International Trade Development Centre in Geneva, Nigerias exportation is currently generating $10bn annually and this has positioned the country as one of the leading emerging economies in the world."At NEPC, we are doubling our efforts to ensure that we double that figure by the end of this year."However, the NEPC boss regretted that export activities in the country were plagued by challenges affecting the sector.These, according to him, include failing infrastructure, paucity of funds to develop products, huge cost of production, multiple checkpoints and border harassments, and sea piracy, among others.He reiterated that the NEPC was committed to ensuring that the countrys economy was diversified."The oil economy is a mono-based economy. Nigeria can do well without oil. The oil economy has not done well and except we make stringent efforts to diversify the economy by developing the non-oil sector, we may not compete well in the global economy," he said.On the data centre, Adulugba explained that NEPC could not afford to be left behind in the digital revolution, adding that it was expedient for export processing in the country to be digitalised. He noted that data collection, collation, storage and retrieval as a system must be embedded in NEPC operations, saying, "Though, it is coming rather too late, but we must join the global train and ensure we are not left behind. Quality and accurate service delivery is very germane to our business; therefore, going digital is not just imperative, but highly critical to attaining our goals."
Click here to read full news..