The Nigerian Export Promotion Council (NEPC) says exporters generated ₦2.7 billion from January to June.

NEPC executive director Nonye Ayeni said this at a one-day sensitisation seminar for exporters on export contracts and use of International Commercial Terms ( INCOTERMS) organised by the council in Owerri on Thursday.

Ms Ayeni said that the profit indicated the hard work and commitment of non-oil exporters in the country. She said the workshop was necessary to equip exporters with the requisite knowledge of INCOTERMS as they are key to unlocking successful global trade transactions and improving product competitiveness.

“Understanding INCOTERMS plays a vital role in international trade, providing a standardised framework for buyers and sellers to communicate and manage their responsibilities and liabilities.

“By understanding the 11 INCOTERMS rules, businesses can clarify their obligations and risks with a view to minimising misunderstandings and disputes,” she said.

The chair of the Imo Exporters Summit, Eze George Ekeh, said exports were more crucial to the country’s economic recovery than ever before.

Mr Ekeh advised exporters to package their products properly and attract the right buyers for better pricing.

One of the exporters, Uche Chikata, the managing director of St. Ann’s cashew nut industry, thanked NEPC for the workshop, adding that it would enable exporters in the state to increase their income target in the final quarter of  2024. 

(NAN)