• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, October 3, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

SMEDAN forecasts $35bn earnings from non-oil export in 5 years

SMEDAN

The Matters Press by The Matters Press
November 8, 2023
Reading Time: 2 mins read
0
SMEDAN to disburse N5.2m start-up grants to cooperatives

Uyo, Nov. 8, 2023: The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says the agency has put modalities on ground to push up the nation’s yearly earnings in non-oil exports to US$35 billion dollars in the next five years.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

The Director General of SMEDAN, Mr Charles Odii disclosed this in his remarks during a three-day capacity-building workshop on packaging and branding of products for Africa Continental Free Trade Agreement (AfCFTA) in Uyo on Tuesday.

Odii was represented by the Acting Director, Partnership and Coordination Department of SMEDAN, Prof. Adeyinka Fisher.

The director general said that in the first six months of 2022, Nigeria recked in a total revenue of 2.5 billion dollars in non-oil exports.

Odii said: “The Observatory of Economic Complexity (OEC) once ranked Nigeria as the 49th largest export economy in the world, having exported goods worth US$47.8 billion dollars and imported goods worth US$39.5 billion dollars.

“Nigeria’s non-oil export is projected to hit 25 billion dollars by 2025, from US$2.7 billion in 2022, according to Nigeria Export Promotion Council (NEPC).

“May, I express the determination of SMEDAN to push Nigeria’s export target to US$35 billion per annum over the next five years.”

Odii further said that the agency would increase the number of SMEs that meet AfCFTA standards and those of other international markets to enhance cluster development and improve common processing facilities and value addition.

“We will increase access to global business information, enhance regional integration, and ensure increased turnover for SMEs,” Odii said.

According to him, SMEDAN has also mapped out several plans to achieve its goal, including sustained and vigorous training of entrepreneurs on packaging and branding of products to promote value addition.

He added that one of the challenges confronting Nigerian exporters was rejection and under-pricing of their products in the international market due to poor packaging and branding, and inadequate information on the rudiments to function in the global market.

He encouraged exporters to be seriously involved in product development to enable them to take advantage of the Africa Continental Free Trade Agreement (AfCFTA) to earn foreign currency and help generate revenue for the nation.

Earlier in his remarks, the Commissioner for Trade and Commerce, Mr John Etim, who declared the event open, said that the state government would continuously partner with SMEDAN on product development for export.

Also speaking, the state Commissioner for Economic Development, Mr Emem Bob declared the ministry’s readiness to support SMEDAN.

Bob urged the participants to take the training seriously to enable them to sell their products on the international market.

The theme of the workshop is: “Empowering Small and Medium Enterprises for Global Competitiveness through Packaging and Branding.”

Tags: SMEDAN
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
Leadway Assurance generates N104.4bn premium

Leadway, Leytro partner to offer Tech-driven Pay-As-You-Drive insurance

NUPRC, others embark on joint investigation

Tinubu appoints three executive commissioners for NUPRC

Recommended Stories

The Coastal Road: Atiku And The Limits of  Desperation

The Coastal Road: Atiku And The Limits of Desperation

April 8, 2024
FMDQ’s turnover hits N24.03trn in September

FMDQ approves registration of Agro-allied company’s N20 bn CP programme

June 19, 2022
Befitting honour for former President Buhari commendable – TMSG

Group commends Tinubu’s exceptional honour to late President

July 20, 2025

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us