EXPORT OF AGRIC PRODUCTS NOW ENHANCES NIGERIAS REVENUE PROFILE.

Mr Zakari Nasiru, the Deputy Comptroller (Exports) at Tin Can Island, says export of agricultural products has now enhanced Nigeria’s revenue profile.

Nasiru told the News Agency of Nigeria (NAN) in Lagos on Friday that the Federal Government was making up revenues hitherto being lost due to Nigeria’s inability to export commodities overseas.

According to him, Nigeria loses a substantial revenue when most containers bringing imports into the country return to their original countries without carrying goods back.

‘‘The reason why the containers that came in with imports into Nigeria go back to their country of origin empty while the ones that carry goods from Nigeria out of the country to other countries come back with other goods into Nigeria is simple.’’

‘‘Nigeria used to be an import country, that is, we depend mostly on importation to the extent that most of our needs we import into this country.’’

‘‘But those (ships) that brought in these imported goods go out of this country empty because we have no commodities to take out.’’

‘‘The idea is because their containers are being hired.’’

‘‘When you import, it is not just the (FOB) Freight on Board value you pay, you pay the (CIF) Cost, Insurance and Freight.’’

‘‘That is the price of whatever you are bringing from the company before they bring it to the water side.’’

‘‘It is now that the present administration is encouraging exportation.’’

‘‘It is on the increase, a lot of things are being exported now, especially the agric products.’’

According to him, while Nigeria is discouraging importation, it is striving towards promoting a lot of exports.

NAN reports that Nigeria now exports more than 20 agricultural commodities to Europe, including cocoa butter, palm kernel oil , shrimps, snails, garlic, charcoal, gallstone , textile and garment, cashew nuts, rubber, sesame seeds, cassava flour, and honey. NAN.