Minimizing Business Losses for Maximum Export Gain
In a concerted effort to bolster Nigeria's export sector and mitigate business losses, a comprehensive workshop titled "Minimizing Business Losses for Maximum Export Gain" was convened today, February 8th, 2024, at the Nigerian Stored Products Research Institute (NSPRI) Conference Hall in Port Harcourt. Organized by the Institute of Export Operations and Management (IEOM), Nigeria, in collaboration with prominent sponsors including the Nigerian Stored Products Research Institute, Port Harcourt, Menage Limited, Union Bank of Nigeria, National Shippers Association of Nigeria and Optiva Capital, the workshop aimed to equip exporters with strategies to fortify the integrity of Nigeria's export industry and enhance efficiency and reliability.
The event with over 100 registered participants, commenced at about 10:30 AM with an opening remark by the Executive Secretary/ CEO of the Institute of Export Operations and Management (IEOM); Mr. Ofon Udofia highlighting the critical need for increased export operations in Nigeria. Also was Mrs. Adeneye Sylvia Onono, representing the Regional Coordinator South South zone of the Nigerian Export Promotion Council (NEPC), who emphasized the significance of addressing business losses through meticulous attention to certifications, training initiatives, and documentation requirements, including those prescribed by NAFDAC and other certified bodies.
The workshop featured two insightful presentations aimed at empowering participants with practical insights and strategies. Mrs. Mercy Odibe from the Institute of Export Operations and Management delivered a presentation titled "Minimizing Business Losses for Maximum Export Gain," emphasizing the importance of adapting to new contexts and increasing the variety of export systems to respond effectively to challenges. She stressed the necessity for exporters to maintain consistent knowledge about their products and continuously seek ways to improve them to minimize losses.
The second presentation, led by Mrs. Inana, M.E., the Acting Zonal Coordinator of NSPRI, Port Harcourt Office, focused on "Enhancing Export Quality and Shelf Life: Strategies to Minimize Business Loss and Maximize Export Gain." Mrs. Inana mentioned that Nigerian Export losses was at about $700million caused by improper storage and processing of products. She further introduced participants to NSPRI, it's core mandate and technologies which when utilized by the exporters will help them minimize business losses while maximizing export gains. In addition to the presentations, sponsors of the workshop, including Union Bank of Nigeria PLC, provided valuable training sessions on insurance options, loans, and grants application procedures to empower participants with financial tools to enhance their export businesses.
A notable highlight of the event was the exhibition featuring products and services from 17 exporters. During the inspection of the showcased products, exhibitors received constructive feedback on packaging and processing techniques, further emphasizing the importance of quality assurance in export endeavors. The workshop concluded with a renewed commitment from participants to implement the strategies and insights gained to strengthen Nigeria's export sector and minimize business losses, thereby contributing to the nation's economic growth and development.
Cross-section of participants at the workshop
Exhibition stands
