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B N W: Biafra Nigeria World News |
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Pre-shipment inspection of non-oil exports begins October
WITH an anticipated yearly revenue of up to N135 billion, the Federal Government will on October 1, 2004 begin the pre-shipment inspection of all non-oil exports from the country.
Minister of State for Finance, Mrs Esther Nenadi Usman, has also confirmed the appointment by the Federal Government of Messrs. Cobalt International Services Limited as the programme's agent for an initial period of two years. The contract, she added is renewable.
Usman, who briefed journalists at the weekend in Abuja was, however, silent on the cost of the agreement entered into between Federal Government and the Nigeria-British company.
To ensure a hitch-free take off and successful implementation of the programme, however, the minister said a technical committee comprising representatives of relevant stakeholders and agencies of government had earlier worked out the details of the agreement, including the production of a set of export guidelines.
She explained that the Federal Government appointing an agent for the nation's non-oil exports was part of the economic reforms aimed at diversifying the export base and maximising foreign exchange inflow.
According to her, the programme also has the capacity to improve the volume, quality and value of goods exported from Nigeria to other parts of the world. She said the plan was to ensure that exports conform to the recommendations of the International Standards Organisation (ISO), adding that the strategy if encouraged, will promote job creation.
Commenting on the financial benefits of the programme to the country, the Minister said: "Government envisages that more than N135 billion ($1m) could be earned through non-oil exports (excluding the cassava project) within the first year of the programme with expected increases in revenue generation in subsequent years."
The programme, she added: "is cost-effective and self-financing, as exporters will be required to pay just one per cent ad valorem on Free On Board (FOB) value of their exports, from which the agent's fee will be paid. Above all, the programme will engender a high level of transparency in the repatriation of export proceeds by the exporters."
She added that the Federal Government had resolved to adequately educate the exporters, who are the primary beneficiaries of the programme through public enlightenment and sensitisation seminar workshops to be held in Kano, Aba and Lagos. The workshop is slated to hold on Thursday 30 September, 30 Tuesday October 5 and Thursday October 7, 2004 in the three selected cities respectively.
Part of the export guidelines released last Friday specifies among others that any person intending to export non-oil goods from Nigeria shall give notice of not less than 10 working days from the proposed date of the pre-shipment inspection, within which he is expected to collect and fill the necessary document before the inspection is carried out by the agent.
Also, the agent, under the guidelines, is expected to submit on a monthly basis statistical returns on the export transactions to the Federal Ministry of Finance; Central Bank of Nigeria (CBN), the Federal Ministry of Commerce; the Federal Office of Statistics; Office of the Secretary to Government of the Federation and the Nigerian Customs Service.
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