COMMODITIES FOR LOCAL MARKETING & EXPORTS
TERRIFIC INVESTMENT & CONSULTING LTD, (TI&C) is a Nigerian firm based in Abuja, capital city of the Federal Republic on Nigeria. It is a limited liability company registered with the Corporate Affairs Commission, Abuja, Nigeria. It is also registered by the Nigerian Exports Promotions Council, and has the mandate to carry out export and import business activities. Terrific Investment & Consulting Co. Ltd is licensed as a firm that is licensed to engage in consultancy services in diverse fields, and business activities. We offer our services in the area of linkages and investment promotion, facilitation of collaboration and partnerships — locally and abroad, for participation in business activities in the Federal Republic of Nigeria.
We are committed to the provision of formidable, excellent, highly competitive and functional professional services that include collaborative cooperation and linkages with willing investors seeking participation in the economic development of Nigeria, and foreign nations seeking investors in Nigeria. We also act as agents of ambitious organizations that are poised to shoot into prominence by breaking new grounds. Thus, we offer our expertise and cooperation in diverse areas.
NIGERIAN GOVERNMENT’S POLICY MEASURES & COMMITMENTS TO BOOSTING LOCAL PRODUCTIVE CAPACITY: – You can now purchase Nigeria Made Products On line.
The Commodities & Products Inspectorate of the Federal Ministry of Industry, Trade & Investment has achieved much in its drive for utilization of Nigeria-Made products and bringing the buyer and seller together. In fact, purchasers are now able to purchase made in Nigeria products on line at local online stores. The Executive Order 003 has increased the level of patronage of made-in-Nigeria goods by public procurement agencies, and is an affirmation of the commitment of government to building local productive capacity. The Executive Order was signed to promote transparency and efficiency in the business environment, designed to facilitate ease of doing business in Nigeria; support for local content in public procurement by the government, and timely submission of annual budgetary estimates by all statutory and non-statutory agencies.
THE NIGERIAN MARKET IS HUGE: The Commodities & Products Inspectorate Department of the Federal Ministry of Industry, Trade & Investment is moving to strategically to create the desired sustainable awareness and attitudinal changes and guidance through policy implementation. It has consistently invited attention locally and abroad to the fact that Nigeria can develop phenomenally, only if all Nigerians take proper steps to reposition the country for greatness. Substantial gains have been recorded in the past few years. Investors are being invited to note that Nigeria is abundantly endowed with human and material resources that could sustain a broad-based growth and development, particularly in the non-oil exports sector. Nigeria’s economy constitutes 76 per cent of the economy of the Economic Community of West African States, ECOWAS. Nigeria also holds 30 per cent of the economy in sub-Saharan Africa, and 21 per cent of Africa’s economy.
DIVERSIFICATION: Nigeria is the leading producer of crude oil in Africa, government is implementing an agenda diversification of the economy utilizing the private sector as engine for growth in a Public/Private Sector partnership arrangement. Emphasis placed on home made products and services that are accorded prominence as the backbone of the national economy. The campaign is hinged on the aspirations of the citizenry and the potential markets. The purposeful implementation of this agenda is producing the desired results by way of stimulating the economy through Nigeria Made products; but greater involvement of the citizenry is still required alongside more collaboration among the three tiers of government and the private sector. The Nigerian government’s policy on industrialization, trade and investment is one that is worthy of support by all who mean well for the nation.
BOOSTING NON-OIL EXPORTS
For instance, just like traditional Chinese medicine is deeply rooted in the hearts of the Chinese people, it is possible to move Nigeria forward through alternative medicine. We have most of those plants and raw materials that are manufactured and turned into herbs in Nigeria. All that we need do is to demonstrate interest and patriotism, as government continues to create the enabling environment and play its regulatory role. We can get there speedily if we work together. Investors in the Made in Nigeria sector are being encouraged through policies already put in place for ease of doing business. The Bank of Industry is infusing capital and funding support through various financing schemes to promote patronage of locally made goods and products. Particular attention is being accorded Small & Medium Enterprises that have the capacity to boost production and job opportunities.
SMEs are veritable means of reviving old, moribund and even new schemes. The Manufacturers Association of Nigeria has keyed into the agenda and is showing commendable interest by sensitizing its members. In addition to the compilation of lists of locally-manufactured goods, manufacturers are being afforded the opportunity of having access compendium of all factors that are designed to fast track achievement of goals and objectives. Government is pushing forth information to investors and consumers, the global community, and indeed, all who wish to know how and where to contact to get quality made-in-Nigeria goods. Government is creating awareness and at the same time requesting investors and consumers to show serious commitment to participating in the nation’s economic development for the full exploitation of the potentials of the various sub-sectors of the national economy.
POSITIVE EFFECTS OF BOOSTING NIGERIA MADE PRODUCTS & NON-OIL EXPORTS: There is evidently a brighter tomorrow if Nigerians could embrace the policy of the federal government in the area of promoting local products and services and non-oil exports. This policy is directed at the following:
- The standard of living will improve drastically
- Reduce dependence on oil revenue for survival.
- Encourage production of cash crops that yield huge foreign exchange as palm oil, cashew, cocoa, soya beans, rubber, rice, petrochemical, leather, ginger, cotton, and Shea butter.
- Bring buyers and sellers together
- Increased awareness
- Creation of jobs and employment opportunities
VAST & LIMITLESS OPPORTUNITIES FOR PROSPECTIVE INVESTORS: Although Nigeria ranks sixth in the world in agricultural output, and first in Africa, its agricultural techniques have not kept pace with the nation’s rapid population growth. As a result, Nigerian food exports have been declining for a number of years, while imports have increased. There has however, been large resurgence of manufacturing and exporting of processed food products. As a result, agriculture accounts for 28.6 percent of the national GDP and constitutes two-thirds of the nation’s employment. Nigerians in the Diaspora, given their usefulness and high relevance, have not been left out of the equation with strong appeals and encouragement for participation in the development of Nigeria’s economy. From the foregoing, it is obvious that massive support of all Nigerians at home and abroad is required for the Nigeria Made Products policy of the Federal Government, that is beneficial to all Nigerians.
REASONS WHY DECISION TO INVEST IN NIGERIA IS A WISE ONE
NIGERIA – AN EMERGING MARKET: A publication titled: Economy Watch as far back as 2010, noted that: ‘’Nigeria is an African nation, considered an emerging market, ranked as the 21st largest economy by nominal Gross Domestic Product (GDP) and could go higher. Nigeria is the largest economy in Africa. In 2012, its purchasing power parity (PPP) ranked 124th in the world, reaching $451 billion officially—though actual numbers put it closer to $630 billion—and individual GDP reached $2,800 per person —$3,900 per person actual. Oil exports, and controlled imports aided Nigeria’s exit from recession – The Nigerian Bureau of Statistics (NBS) explained that Nigeria’s recovery from economic recession slowly began in the second quarter of 2017 (Q2 2017) mainly because of oil exports and controlled imports. According to the Report, “the economic recovery was mainly driven by improved net exports (trade balance), with all other components of real GDP by expenditure remaining negative (except Non-profit Institutions Serving Households (NPISH) consumption, albeit better than 2016.
REASONS WHY YOU SHOULD INVEST IN NIGERIA: Your decision to invest in Nigeria is a wise one because the county offers the following significant advantages to potential investors:
- Enormous human and material resources abound in the State. Most of these resources are yet to be fully exploited.
- The State constitutes a significant part of the expansive Nigerian Market, which stretches into the West African sub-region.
- The political environment is stable and peaceful. Nigeria, of which Osun State is a significant entity, operates participatory democracy, which accommodates all shades of opinions in a spirit of love and concord.
- The State has created conducive business and industrial environment by putting in place, policies and programmes, which guarantee a free market economy.
- The private sector in the State is dynamic and has assumed greater responsibilities under the industrial policy of the State, which makes the sector the principal engine of economic development.
- A non-discriminatory policy with respect to local and foreign investors is in place with both groups enjoying adequate government protection and incentives.