...Promoting International Trade Education

3T IMPEX TRADE ACADEMY

...ENHANCING EXPORT TRADE EDUCATION

The African Continental Free Trade Agreement (AfCFTA) which was signed by a number of African countries in March, 2018 is almost set to take off. Out of the 55 countries in Africa, about 49 countries have signed the agreement already and out of the 49 countries, 17 of them have ratified and deposited it with the A.U commission and we have just 5 countries left to commence the implementation of the agreement because 22 countries are required to ratify the agreement before it fully takes effect on the African soil.This is the largest continental free trade agreement ever signed in the world and it is very sad to say that Nigeria's government have refused to sign this agreement and thereby leaving Nigeria out of the proposed largest market in the world. The concerns of the Federal government of Nigeria is the issue raised by the Manufacturer Association of Nigeria (MAN) and some other organised private sectors which are not a strong position in the sense that issues raised are based on their ignorance of the details of the AfCFTA. This is because the agreement provides safe guards that are supposed to protect every country so they don't become a dumping ground.The rule of origin in this agreement requires 60% input from member states and this is to ensure that goods from other continent outside Africa do not find their way into the Nigeriamarket. The concern of many is that Nigeria is the largest market in Africa and everybody is looking towards Nigeria and that is why MAN has refused to allow the government to sign the agreement.If you take a clue from the free trade signed in West Africa, that is the Ecowas Trade Liberalisation Scheme (ETLS), Nigeria is the major beneficiary of this agreement in amongthe member states in West Africa. With this in mind, we can conclude that if Nigeria signs the AfCFTA, Nigeria would still be a major beneficiary of this agreement because the lastepisode of recession has woken Nigeria up to the fact that we need to begin to produce for export.We would like to call on the incoming government to make the signing of the AfCFTA apriority for so as to ensure the Nigerian business people are not left out of the biggest proposed largest free trade area in the world.Source: 3T Impex

Earnings from non-oil exports increased significantly year-on-year and month-on-month. The Centre for the Study of Economies of Africa (SCEA) noted in its latest report on Nigeria Economic Update published yesterday.

The report noted that the Central Bank of Nigeria (CBN)

records non-oil export earnings at $382.24 million in October 2018, indicating a rise of 46 per cent from the previous month's N262.35 million and 69 per cent from the previous year's (October 2017) N225.78 million.

According to the report, improvements in proceeds from agricultural products as well as mineral exports impacted the total export earnings – both accounting for 13 per cent and 59 per cent respectively.

“The improved mineral exports followed important tractions in the sector: at the state level, Ebonyi State launched the combined lead, steel and copper processing plant; and at the federal level, the government renewed commitments to incentivise non-oil exporters via the Export Expansion Grant (EEG) scheme.

“With recent strides made in the mining sector such as issuing the first gold refining license, mineral exports and by extension non-oil exports, are expected to continue rising.”

The report however advised that the proposed Solid Minerals Development Fund should be swiftly established to improve the performance of the sector.

Commenting on the stock market , the report noted that ahead of the 2019 elections, the stock market activities have been affected by varied political uncertainties.

For the week under review, the stock market hit a record low (since May 2017) as market indices fell significantly: ASI shed 808.2 points (2.64 per cent) to close at 29,830.7 points, and market capitalisation also fell by 2.64 percent to N11.4 trillion.

It further observed that the week witnessed low volume of stocks traded amid sell position of 64 per cent as against buy volume of 36 per cent.Excerpt: Leadership

AfCFTA Update: 5 more Countries to go

Nigeria's Non-oil Exports Earnings Rise to$382 Million

Over N1bn Informal Exports Originate FromKano Monthly

Nigeria: Cargo Throughput Records LowestPerformance in 2018

Top News

INSIDETHIS ISSUEExport News:

AfCFTA Update: 5 more

Countries to go

- 1

Export Education:

Nigeria Set to Loose over

$215 Million from New

Minerals Export Regulation

- 3

Export Training Products:

Importer’s Companion

and more

- 4

Export Miscellaneous:

Commodity Prices,

Infographs, and lots more

- 3 & 4

Export Programme:

Import Processes, LC & BC

and More

- 2

VOLUME 4ISSUE 5

AfCFTA Update:5 more Countries to go

FOLLOW USONLINE

3timpextrade

3timpextradeacademy

www.3timpex.com

tradeacademy@3timpex.com

Nigeria’s Non-oil ExportsEarnings Rise to $382m

for June 2018

.

Page 2.

Analysis of the figures released by NIMASA shows that while cargo throughput stood above 60m tonnes in 2008, the figure increased to about 65m in 2009. It climbed above 75m in 2010, increased to over 80m in 2011 but declined to about 70m in 2012. In 2013 it rose above 70m and peaked at 84.9m in 2014. From 2015, the figure declined to about 70m, also declined to about 60m in 2016, stood at about 60m in 2017 to finally fall to 30m tonnes in 2018.

NIMASA in its Maritime Industry Forecast stated, “Port usage nevertheless has seen a decline in recent years according to the Nigerian Ports Authority, NPA, which owns the eight ports complexes across the country. According to data sourced from the website of the Nigerian Ports Authority, while cargo throughput excluding crude oil rose to its highest point in 2014 with 84.9mn tonnes, there has been a decline in preceding years with provisional data for 2018 standing at 35.9m tonnes (January to September)

“External factors remain the key reason for the decline experienced in Nigeria's port usage. The volatile nature of international crude oil prices, led to a fall in the value of naira against other international currencies especially the dollar and, has also reduced domestic demand for imports.

Excerpt: Hellenic Shipping

Informal trade worth more than N1bn takes place in Kano each month, Regional Coordinator, North West, of the Nigerian Export Promotion Council (NEPC), Mr. Balla Hassan, has said.

Hassan, who also disclosed that the Council is aware of the 'back door' trade ongoing from the Kano grains market, said the NEPC is working hard to help traders to export formally and reap the benefits of their efforts. He made this disclosure after a capacity building workshop organized by the NEPC-African Growth and Opportunity Act (AGOA) Trade Resource Centre in Kano recently.

“We are aware that people do export from the 'back door' through the Dawanau Grains Market in Kano,” said the Regional Coordinator. “What we do is visit the market and obtain information on the product(s), volume and value of products being exported through the 'back door' and forward to the ED/CEO at the headquarters.”

He pointed out that mostly, Agricultural products like maize flour, millet flour, guinea corn flour, ginger flour and other crops valuing above N1.7bn per month are exported informally to Niger, Chad Republic, Algeria and Libya.On what the organization is doing to arrest the trend and capture the various trades under the NEPC documentation, Hassan said, “What we are doing to arrest the trend is awareness campaign for people to do formal trade by registering with NEPC to obtain export license.” He explained that NEPC also encourages the people to operate corporate accounts for their businesses. He added that with corporate accounts, such ones will have NXP forms and their proceeds can be repatriated formally through their bank accounts and with that, the Central Bank would be able to track the volume and value of the foreign earnings through such transactions.

Excerpt: National Wire

Cargo throughput, excluding crude oil, at Nigerian ports, witnessed the lowest performance in 2018 with a total of 35.9m tonnes.

This was against the 2014 figure where cargo throughput witnessed the highest climb with 84.9m tonnes.

According to the Maritime Industry Forecast for 2019-2 0 2 0 r e l e a s e d b y t h e N i g e r i a n M a r i t i m e Administration and Safety Agency, NIMASA, port usage has seen a decline in recent years.

VOLUME 4 ISSUE 5

HEADLINESOTHER

Importers, Agents Kick asNigerian Shippers' CouncilIntroduces Registration Fee

– Ships & Ports

Agro Commodities ExportBusiness Opportunities In Nigeria

– Independent

Customs Duty: Nigeria Loses outas Operators ShunLocal Ship Registry

– Punch

Over N1bn InformalExports Originate From

Kano Monthly

Nigeria: Cargo ThroughputRecords Lowest

Performance in 2018

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:

O ffAdelabu Street, Surulere,Lagos, Nigeria.

Weekend - 9am

March 8th & 15th, 2018 Date -

Page 3.

New issue

Nigeria Set to Loose over$215 Million From NewMineral Export Regulation

Export

Miscellaneous:

exports shall henceforth be inspected by government-appointed independent pre-shipment inspection agents.”This guideline was drafted without the input of the stakeholders which are the mineral exporters in Nigeria. The uproar from the stakeholders who got to know through other means lead to a public hearing last year. Despite the input from the practitioners, the MMSD has refused to make the recommended changes on the document. It is bent on going ahead to

The Ministry of Mines and Solid Minerals Development (MMSD) is almost set to implement an export regulation that will trigger the beginning of the end for minerals exportation in Nigeria. According to a newspaper report published on January 15, 2019, “the minister said that under the soon-to-be-released Mineral Export Guidelines, the lingering issue of evading payment of royalties or false declarations had been dealt with. According to him, all mineral

implement it at the detriment of the growth of the sector. The major focus of the ministry is to increase revenue by passing the royalty that are being evaded by the miners to the merchants who export theses products.

Author: Bamidele Ayemibo

Price: N 5,000

Title:

Importers’s Companion

Speaker: Bamidele Ayemibo

Price: N 5,000

Title:

Exporter’s Companion

Export TrainingProducts

EXPORT ORDERS

LOCAL ORDERS

COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG)

S/N

S/N

PRODUCT

COMMODITY

SPECIFICATION MINIMUM SHIPMENT

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

Zinc

Cocoa Beans

Copper

Tin

Alluminium

Cotton

S/N

1.

2.

3.

UNIT OF MEASUREMENT

Metric Tonne

Bushel

Pounds

Metric Tonne

Metric Tonne

Metric Tonne

Metric Tonne

PRICES

VOLUME 4 ISSUE 5

USD 2,066.00

USD 2,688.50

USD 2,235.00

USD 6,207.00

USD 21,050.00

USD 1,865.00

USD 72.55

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.

Export Miscellaneous

VOLUME 4 ISSUE 5