(a) What are the functions of the Nigeria Export Promotion Council (NEPC)?
(b) What are the steps an exporter would take to export goods from the receipt of an indent to the shipment of the goods?
Explanation
(a) Functions of the Nigeria Export Promotion Council are:
(i) Export development activities: Develops of export, raw and semi-processed materials derived from agriculture and mining in Nigeria; adopts measures necessary to increase the volume of production from agriculture and industry; advises on quality control, packaging and product design to ensure an acceptable standard of export.
(ii) Export marketing activities: Assesses the performance of Nigerian export commodities in foreign markets; identify barriers and restrictions against the growth of traditional markets for Nigerian exports; explores ways of penetrating new markets; advises and supports private sector business firms to participate in overseas trade fairs; organises local exhibitions for Nigerian products.
(iii) Export financing and incentives: Evolves measures designed to make available greater export financing and investment; Provides export financing facilities, Insurance and Credit Guarantee schemes; assists exporters on export Cost and Pricing problems; advice on trade arbitration, shipping, freight and insurance.
(iv) Trade information services: Establishes and operates International Trade Information Centres to provide prompt trade information services; publishes trade journals and export directives; provides a forum for the meeting of Exporters.
(v) Trade facilitation activities: Undertakes the review and simplification of existing export products.
(vi) Publicity for Nigerian Export Promotion Council /NEPC: Prepares and issues publications on the various activities of NEPC.
(vii) Training activities: Organises training workshops and seminars in export management and international marketing for the personnel and agencies engaged in foreign trade.
(b) The steps to be taken by an exporter to export goods from the receipt of an indent to the shipment of the goods are:
(i) The exporter must have obtained the necessary export documents in compliance with the Nigeria Export Promotion Council [ NEPC] since the order had been received.
(ii) Arrangement for the goods to be shipped is the next step. e.g. packaging, labelling, arranging for the container through shipping agent e.t.c.
(iii) Making necessary contact with a shipping company and getting the necessary documents like shipping notes, freight notes, etc prepared.
(iv) On completion of the above, the exporter will now prepare a bill of lading covering the transaction in triplicates. One is dispatched to the importer, another to be retained by the exporter and the third is given to the shipping company. At this stage, the goods are then shipped to the importer since payment must have been on a C.W.O. basis. If not, the exporter should make arrangements to collect the payment.