The Nigerian Export Promotion Council (NEPC), has projected that beans, which was valued at $7.2 billion in 2023, is expected to reach $9.43 billion by 2028.
The Executive Director, NEPC, Nonye Ayeni, said this in Abuja on Wednesday, at a Technical Meeting on World Trade Organisation/ Standards and Trade Development Facility (WTO/STDF) PG 845.
Ayeni said that similarly, the global value of sesame export and its value-chain which was placed at $7.35 billion in 2022 was expected to grow to $9.27 billion by 2028.
She said that with this exciting market opportunity for sesame and beans, Nigeria was positioned to have its fair share of the global market.
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She said that this was especially so as the country was the third largest producer of sesame in Africa with approximately 500 Metric Tonnes produced in 2022.
“Let me also add that Nigeria is one of the largest producers of beans globally.
“But we are also one of the highest consumers, producing 5.2M Metric Tonnes of dried cowpeas annually and consuming 3.6M Metric Tonne,” she said.
According to the NEPC boss, available facts showedl that Nigeria’s food exports, including sesame and cowpea, have often faced rejection.
She said this was due largely to poor quality, inefficient procedures and documentation, sanitary and Phyto-sanitary issues, and improper packaging and labelling, among others.
“Hence the need to address these issues in order for Nigeria to meet up with the quality and standards of these products in the global market.
“These militating factors led to the decision of the WTO and International Trade Centre(ITC) to sponsor the STDF project, which will be backed by expected 30 per cent counterpart funding from NEPC.
“This project will enhance the quality and standard of sesame and cowpea through the institution of good Sanitary and Phyto-sanitary (SPS) conducts, Good Agricultural and Warehousing Practices (GAWP), packaging/labelling and excellent storage systems.
“All these are expected to forestall frequent contract cancellations and loss of business opportunities,” Ayeni said.
The executive director also said that it would allow for a significant increase of global acceptance of the items for better quality of the products consumed locally.
She expressed optimism that the stakeholders in the implementing committee would work to ensure best practices and standards of the items in the international market.
“I am confident that the MDAs, agencies, and other stakeholders in the technical committee for this project will ensure to deliver on our mandate.
“This desire to drive the project and achieve its objectives can be gleaned from the huge opportunities that exist in the export ecosystem.
“The task before us offers a rare opportunity to change the economic trajectory of our dear country as this will increase the quality and the standards of cowpeas and sesame.
“It will minimise rejects and increase the value and volume of cowpeas and sesame exported from Nigeria”, she said.
Ayeni said that it would ultimately increase foreign exchange flow that would help to stabilise the currency.
According to her, It will lead to sustainable economic development and diversification, which aligns with the Renewed Hope agenda of President Bola Tinubu and our Trade Minister Doris Uzoka-Anite’s drive to revolutionise non-oil export.
“Therefore, I implore us all to give it the best shot. It is our project, and we must get it right.
“As it is indeed a game changer given its propensity to enhance food security and create jobs thereby fostering youth and women inclusiveness”.
Also speaking, Mrs Evelyn Obidike, the Director, Product Development Department, NEPC, said the council was determined to ensure Nigeria’s non oil export was approved at the international market and at a premium price.
“You can see that all the relevant agencies that are supposed to work assiduously and in synergy to ensure that we deliver the objective are here.
“What this represents is that Nigerian exports of this product will not only increase in volume, but also increase in value, and Nigeria is moving.
Similarly, Sheriff Balogun, the National President, Federation of Agricultural Commodity Associations of Nigeria (FACAC), said packaging, transportation, cleaning plants, and warehouse were some ways export products gets contaminated .
The technical committee is made up of representatives of the Trade, Agriculture, and Health ministries.
Others are the National Agency for Food and Drug Administration Control (NAFDAC), Standard Organisation if Nigeria (SON), Cowpeas And Beans Farmers, Processors and Marketers Association of Nigeria, and Organised Private Sector among others.
