Diamond Bank PLC, a leading retail bank in Nigeria, has urged entrepreneurs in the import and export business to focus on increasing non-oil exports, especially as the glut in oil and gas production and supply has led to a slump in the price of the product in the international market.
Speaking at a symposium organized by the bank in conjunction with the Nigerian Export Promotion Council, Jude Anele, Head, Retail Banking, Diamond Bank, said that the sole dependence on oil and gas export is inimical to the growth and development of the economy.
According to him, “Nigeria needs to export high quality products to other nations of the world. Some of the thriving non-oil export sectors include manufacturing, agro-processing and solid minerals with great demand from Europe, America, Asia and other African countries. To maximize the opportunities in the sector there must be commitment from all stakeholders as this is a very specialized industry.”
Sylvester Onoja-Idoko, Head, Trade Products, Diamond Bank, noted that a major challenge within the industry is the often tedious documentation process which invariably leads to inaccurate valuation of transactions. Accordingly, the bank has introduced innovative services such as pre-shipment advances to exporters at the confirmation of the order, post-shipment discount of invoice and Diamond Logistics Support Services.to address these challenges and help exporters get true value for their transactions.
He explained, “The Diamond Logistics Support Services is a product in partnership with DHL Global Forwarding whereby goods meant for export are shipped by DHL Global Forwarding to the country of choice and delivered to the company requesting for the product.”
“Another unique product is Diamond Trade Tracker, a service that enables exporters track the status of shipped goods in real time. The exporter gets periodic updates about their goods in transit and the customer can also validate all these updates online,” he added.
In her welcome address, Mrs. Evelyn Obidike, Assistant Director, Nigerian Export Promotion Council (NEPC), said the export industry requires tailor-made solutions for exporters in the country.
According to her, “Diamond Bank has come to the aid of exporters with solutions that will facilitate international trade. We hope that Nigerian exporters will become global players with the provision of these services.”
Photo Caption: (L-R) Dr John Isemede, Former Director-General, Nigerian Association Of Chamber Of Commerce Industry Mines And Agriculture (NACCIMA); Barr Mrs Margaret Onyema, Vice President, Ship Owners Association of Nigeria; Ibrahim Mijinyawa (fsi), Officer in Charge, Export Seat, Apapa Area Command, Lagos; Mrs Evelyn Obidike, Assistant Director, Nigerian Export Promotion Council and Jude Aniele, Head, Retail Banking, Diamond Bank Plc at the Enhacing Non-Oil Exports Workshop organized by Diamond Bank in collaboration with NEPC in Lagos
