Segun Awolowo, the Executive Director, Nigerian Export Promotion Council (NEPC), has identified poor knowledge of export market training as one of the major reasons why Nigerian exporters have been failing in the international market.
Awolowo said this while speaking during an event tagged: “Export Market Strategy/Readiness Training for Nigerian Women-Owned Businesses,” held in Benin city, Edo state.
The event was organised by the Edo State Nigerian Export Promotion Council (NEPC).
Awolowo, who was represented at the event by Mrs. Patience Afangide, said the partaking of women in trade promotes gender inclusiveness, increases the growth potential of the nation and creates a more balanced frame work for sustainable development.
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.
“It is on this premise that, the Council decided to organize this worshop that comprised of coaching, mentoring and networking sessions to give women entrepreneurs the opportunity to improve their readiness and knowledge of competitiveness in the export market”.
Besides, the NEPC Executive Director disclosed that 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, he said,
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.”
Executive Secretary, Institute of Export Operations and Management ( ESIEM), Mr. Ofon Udofia, in a presentation, encouraged exporters to embark on proper market research analysis before venturing into export trades.
Udofia explained that in export business, exporters must do their market analysis, study and analyse the business they want to do or engage in.
Research, according to him, remains the key to foreign market selection, pointing out that, researching potential markets help to identify and determine where they can mostly sell their product and they must understand their market.