In this post, we look at the functions of the Nigerian Export Promotion Council (NEPC). The NEPC regulates, promote and monitor export trades in Nigeria. Other functions of NEPC are discussed below.
The Nigerian Export Promotion Council is a federal government parastatal, saddled with the responsibility of regulating and, promoting, and recording, as well as monitoring export trade within Nigeria.
The Nigerian Export Promotion Council is also empowered to implement export policies and export strategies in the country.
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Exportation plays a vital role in boosting a nation’s economy_and to a large extent, economic development and exportation work in parallel, such that, one cannot do without the other, in other words, where there is exportation business in operation, the likelihood is that the economy is bound to explode thus, create jobs and wealth. By so doing people’s standard of living will rise.
However, it is unfortunate that Nigeria has remained a mono-product economy, exporting only oil, whereas, Nigeria is blessed with agriculture produce, and minerals, etc, which could have been used to diversify the economy by exporting these products other than oil, whichever way you look at it, exportation business is an economic booster.
Therefore, the main purpose of establishing the Nigerian Export Promotion Council was for the purpose of making funds available for indigenous businesses that manufactured local products for exportation with a view to helping them secure an export market.
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Functions Of The Nigerian Export Promotion Council:
There are a good number of functions assigned to the Nigerian Export Promotion Council, we are discussing these functions right away in this article.
1. Provides Exportable Products’ List
One of the functions of the Nigerian Export Promotion Council is to ensure that a list containing all exportable products is made available, thus, make the job easy for those seeking to engage in the exportation business. Should someone want to do an exportation business and perhaps, does not know what to export, the Nigerian Export Promotion Council is readily available to assist, they will get you the products and possibly country to export these products to.
Therefore, the function of the Nigerian Export Promotion Council is to direct indigenous exporters on how to go about the export business.
2. Provides Technical Support To Exporters
All the functions of the Nigerian Export Promotion Council revolve around the exportation business, it is incumbent on them to make provision for technical support for exporters.
This could be achieved through a documentary on export business transactions, and these transactions must be documented properly.
This is very important because proves and legal basis of the business is reflected in the documents. However, it is the function of the Nigerian Export Promotion Council to tell you which document you need, why and the purpose of the documents, and if need be, where to submit the documents.
Another way to earn technical support from the Nigerian Export Promotion Council is through business registration since it is the Nigerian Export Promotion Council that maintained a database of every Nigerian exporter, of which foreign buyers can trace for supply.
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3. Organizes Exhibitions Fair
Trade and exhibition fair is one of the weapons in the hands of the Nigerian Export Promotion Council, it is used to accelerates and facilitates Nigerians’ participation in the international fairs.
On an event, where you are recognized by the Nigerian Export Promotion Council as a registered exporter, and you do have good products, the Nigerian Export Promotion Council will help facilitates your participation in the international fairs
4. Brings Together Exporters
As one of its statutory functions, it is expected of the Nigerian Export Promotion Council to once in a while bring together exporters, this is very crucial because in a gathering of such, issues having to do with exportation business can be addressed, while other important matters can be discussed, matters like export development and Promotion.
Besides it is important to ensure that the exporters’ network and this is made possible by the Nigerian Export Promotion Council.
5. Provides Information On Products
The Nigerian Export Promotion Council is also responsible to make available information that has to do with product sourcing, this is important since it is part of its statutory functions.
For example, as an exporter you may not know where to get your products, the Nigerian Export Promotion Council is in the position to assist. its function is to assist you, direct you on how to get the products within, it is their job.
6. Provides Grants And Incentives:
Another function of the Nigerian Export Promotion Council is to make provision for grants and provides incentives for the registered exporters.
Registering with the Nigerian Export Promotion Council has qualified any exporter to access the Nigerian Export Promotion Council’s incentives and grants. These grants, however, are often given out by the government.
The reason is obvious, the reason is to encourage and help indigenous exporters expand their businesses. Of course, we are on the know that Nigeria is massively blessed with land mass, where agriculture business supposed to be one of Nigeria’s revenue generator, nevertheless, many are engaged in agriculture businesses, where their agriculture products are exported, and they are beneficiaries of this government grants and incentives, and they received them regularly from the government.
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7. Simplifies Export Procedures
The Nigerian Export Promotion Council is empowered to help simplicity procedures for exports, particularly if someone is new into the system.
There are procedures and there are issues, when it comes to exportation business, where you are confused, you can as well contact the Nigerian Export Promotion Council for advice and direction, it is their function to do so, this was the purpose to which the Nigerian Export Promotion Council was established. It is its duty to help you_so that you do not go do trail and error.
8. Undertakes Studies And Research Work
Another function of the Nigerian Export Promotion Council is the issue of studies and research undertaken by the Council, and they do this on regular basis, the registered exporters are entitled to avail themselves of such opportunity in respect to issues that have to do with exportation and those factors that could affect them as exporters.
9. Solves Export Problems
The Nigerian Export Promotion Council is a problem solver as far as the exportation business is a concern.
An exporter may have problem or challenge as to whether the foreign buyer is legitimate or not, in such case, it is the function of the Nigerian Export Promotion Council to investigate and proffer solution to that challenge.
Exportation plays a vital role in boosting a nation’s economy_and to a large extent, economic development and exportation work in parallel, such that, one cannot do without the other, in other words, where there is exportation business in operation, the likelihood is that, the economy is bound to explode
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