Saturday, April 27, 2024
MARKET UPDATE
Advertisement Topt

TheCable

Advertisement lead

NPA inaugurates first export processing terminal to boost non-oil trade

NPA inaugurates first export processing terminal to boost non-oil trade
November 02
08:37 2022

The Nigerian Ports Authority (NPA) has inaugurated the first export processing terminal in Lagos.

The export processing terminal, known as Diamond Star, is situated at Lilypond in Ijora.

Its establishment would ensure speedy and seamless processing of cargoes accessing Apapa and Tin-Can Island ports in Lagos, and also serve as a pre-gate from where goods would move directly into the port.

Speaking at the inauguration on Tuesday, Mohammed Bello-Koko, managing director, NPA, expressed worry about the several cases of rejection of exports originating from Nigeria, due to time wastage at the ports.

Advertisement

Hence, he said the project would help to reduce wastage; the rejection of Nigerian export goods, as it would ensure speedy processing of exports.

According to Bello-Koko the initiative was in line with the agency’s commitment to the implementation of the national action plan on agro-export and the federal government’s desire to diversify the national economy from oil to non-oil export.

He added that the authority was also working to integrate the Central Bank of Nigeria’s NXP (Nigeria export proceed form) into the electronic call-up regime.

Advertisement

“The need for export processing terminals is underscored by the limitations of current port facilities in the Lagos area which are operating beyond their built capacity for cargo handling,” The NPA boss said.

“The export terminals will serve as holding areas positioned in Lagos and Ogun states and it will help exporters prepare their arrival at port terminals in view of the traffic management challenges that are visible in Lagos.”

Bello-Koko, said the Nigerian Export Promotion Council (NEPC) had served as the technical partner of the NPA through the journey of setting up the terminals.

He also commended the Nigeria Customs Service (NCS) for creating an export command.

Advertisement

Bello-Koko pledged that the authority would work with NCS’ export command to bring up seamless modalities that would govern trade.

“We are also working to integrate barge and train movements to complete the circle in collaboration with Nigeria customs,” he added.

“The movement of export boxes from the Lilypond export terminal shall be directly through Warehouse Road to cut down on time for arrival at the port.

“Similarly, movement of export boxes to Tin-Can Island port shall be from the Diamond Star consolidation point at Emmadunamix terminal in Okota.”

Advertisement

Also speaking at the event, Adeyanju Aremu, assistant comptroller general, NCS, said the service had developed standard operating procedure in line with global standards to remove impediments along the export value chain.

Aremu, however, urged users of the ports to take advantage of customs’ commitment to the facilitation of legitimate trade to excel in their businesses and put Nigeria on the global map of top non-oil exporters.

Advertisement

“We are confident this terminal will serve the purpose for which it was established as the initiative is quite apt and coming at a time the country really needs a paradigm shift,” she said.

“Nigeria is no doubt blessed with enormous natural agro-based resources which, if well harnessed, can lead to accelerated growth in our gross domestic product.”

Advertisement

Aremu, however, urged exporters of agro-based products to adhere to both regional and international market standards to enable them to compete favourably in the international market.

On his part, Olatunji Baale, managing director, Diamond Star Port and Terminals Limited, said the company had the capability and competence to render prompt services to exporters and other stakeholders in the value chain.

Advertisement

Baale also said the terminal could handle about 50,000 boxes of export containers every week and would help to grow Nigeria’s export trade by reducing the trade imbalance.

Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!

Tags

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying.