The Executive Director, Nigerian Export Promotion Council (NEPC), Barrister Segun Awolowo has identified the lack of export market training as one of the major reasons why Nigerian exporters fail to make breakthroughs in the international market.
Awolowo who spoke yesterday in Benin at the Nigerian Export Promotion Council (NEPC) training remarked that the involvement of women in trade promotes gender inclusiveness, increases the growth potential of the nation and creates a more balanced framework for sustainable development.
Represented by Mrs Patience Afangide, Barrister Awolowo spoke on the topic: “Export Market Strategy/Readiness Training for Nigerian Women-Owned Businesses”.
The workshop coached and mentored women with series of network sessions to give women entrepreneurs the opportunity to improve their readiness and knowledge of competitiveness in the export market.
He said: “Lack of export market training is one of the major reasons why Nigerian exporters fail in the international market. Exporters need to learn the specific requirements of the target markets, as well as the certification needed for the product to be exported.
“A recent survey conducted by the World Bank revealed that Nigeria has one of the highest rates of female entrepreneurship in the world. Most of these businesses are classified as low-level female entrepreneurship because they operate informal sectors that yield very little income.
“There is an urgent need to increase women’s potential to partake in high-level businesses that can foster financial empowerment, job creation and social development in their communities.”
In his presentation, the Executive Secretary of Institue of Export Operations and Management ( ESIEM), Mr Of on Udofia, has asserted that exporters should embark on proper market research analysis very well before they venture into export trades.
Ofon Udofia who is also the Chief Executive Officer, of the Institue, explained that, in export business, exporters must do their market analysis, study and analyze the business they want to do or enter.
Udofia said research is the key to foreign market selection. He asserted that researching potential markets help to identify and determine where they can mostly sell their product and they must understand their market.
Udofia said exporters must specify their market pricing and segments, to know domestic and international competitors, know the trade channels and how they can access them and must know the market risk and trade barriers.
Commenting on the approach to researching potential markets, he said exporters should develop a shortlist of potential markets, create a structured research outline, they should dig deeper than the basic facts and figures and research and gathered information before going into the trade.
Buttressing on the topic:” Developing Export Strategy and Selecting Export Market,” Ofon Udofia, listed the cost of developing the market, the products adaption requirements, the market size, degree of competition, cultural awareness, existing trade agreement and type of governments laws on exporters.
He concluded that, exporting demands great planning and needs people that are open, flexible, problem solvers and quick at adapting to new situations. He advised them to equip themselves with vital knowledge of documentation, standards and certifications.
In her speech, the Edo State Export Promotion Council, Benin Export Assitance Office, Mrs Ngozi Ibe, said the event was organized to build the capacity of women and to upgrade product quality, packaging and labelling in line with international best practices and standards cannot be overemphasized.
She said: “The improved product brands will strengthen and increase our market share and competitive advantage especially within the African Continental Free Trade Area and other international markets.”
“Amongst other gaps identified and to be improved upon are: the technical abilities to prepare an export plan, export market readiness/ strategies.
SWOT analysis in order to fit into the competitive export market especially as it impacts on the current pandemic.”
“I solicit your cooperation with our team of professional facilitators to pay apt attention, interact freely, seek proper clarifications where necessary and use the opportunity presented by this programme to enhance your export capacity.”
In her remark, the President, Benin Chamber of Commence, Industry, Mines and Agriculture,(BCCIMA), Mrs Aina Omo-Ojeonu, said when women are involved in export trade that it would help to reduce unemployment, insecurity and other social and economic crimes in the society.
The Edo State Coordinator of Exporters’ Cluster, Mrs Rhona Peters urged exporters to properly package their products with quality and good libel before they export their products to the international markets.
She urged them not to focus on particular products, that they can package more than one product for export and appealed to them to listen to the guest lecturer carefully so that they will have something to take home.
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