The Nigerian Export Promotion Council (NEPC) is the agency of the federal government of Nigeria that is saddled with the responsibility of promoting non oil export from Nigeria. The NEPC have done so much over the years to grow the non-oil export volume of Nigeria but the results have not been commensurate with the amount of work and efforts that have been deployed. However, it is important to state that the last two Executive Directors of the organisation which include Mr Segun Awolowo and Dr. Ezra Yakussak have achieved some milestones and laid some solid foundations on which the new Executive Director can start building. In order to ensure that the new administration at the NEPC achieve the desired growth in non-oil export volume in order to boost the Nigeria foreign reserve, I would like to make the following recommendations.
1. Data Collection and Analysis: Collect relevant data on non-oil exports, including volume, value, destination markets, and product categories. Analyze this data to identify trends, growth areas, and potential challenges. Regularly monitor and update the data to track progress over time.
2. Performance Metrics: Define key performance indicators (KPIs) aligned with the agency’s objectives. These could include metrics such as export growth rate, market diversification, number of new exporters, export value, and market penetration. Measure these KPIs periodically to assess the impact of strategies implemented.
3. Exporter Surveys and Feedback: Conduct surveys and seek feedback from exporters regarding the support provided by the agency. Gather information on their experiences, challenges faced, and the effectiveness of the agency’s programs and services. This feedback can help identify areas for improvement and measure customer satisfaction.
4. Market Penetration and Expansion: Evaluate the agency’s success in penetrating new markets and expanding the presence of Nigerian non-oil exports. Monitor the number of new market entries, trade agreements, and export partnerships facilitated by the agency. Assess the growth of exports to target markets and measure the market share of Nigerian products.
5. Export Training and Capability Enhancement: Assess the impact of export training programs and capacity-building initiatives on the export readiness of Nigerian businesses. Conduct post-training evaluations to measure knowledge gain, skills development, and the ability of participants to successfully engage in export activities.
6. Return on Investment (ROI): Evaluate the ROI of the agency’s promotional activities and initiatives. Assess the cost-effectiveness of trade missions, exhibitions, and marketing campaigns in terms of generated leads, new business contracts, and export revenue. Compare the investment made to the achieved outcomes.
7. Stakeholder Engagement: Gauge the level of engagement and satisfaction of stakeholders such as exporters, industry associations, financial institutions, and government agencies. Conduct regular consultations, feedback sessions, and satisfaction surveys to measure their perception of the agency’s performance and effectiveness.
8. Case Studies and Success Stories: Document and showcase success stories of Nigerian exporters who have benefited from the support of the agency. Highlight their achievements, market expansions, and increased export volumes as evidence of the agency’s impact.
9. Benchmarking and Best Practices: Engage in benchmarking exercises to compare the agency’s performance with similar export promotion agencies in other countries. Identify best practices and lessons learned from successful export promotion initiatives globally.
10. Continuous Improvement: Regularly review and evaluate the agency’s strategies, programs, and services. Identify areas that require adjustment or enhancement based on the evaluation results. Use the findings to refine existing strategies and develop new initiatives to drive further growth in non-oil exports.
By implementing robust monitoring and evaluation mechanisms, export promotion agencies can track the results of their strategies, identify areas for improvement, and ensure that their efforts effectively contribute to the growth of non-oil exports in Nigeria.