Poor quality agric export rejection costs Nigeria $700m in trade with Europe alone
By Jeph Ajobaju, Chief Copy Editor
Nigeria has suffered $700 million loss over rejection of agricultural produce export to Europe alone, according to African Export-Import Bank (Afrixembank) Board of Trustees (BoT) Chairman Benedict Oramah.
But he disclosed at the commissioning of the Africa Quality Assurance Centre (AQAC) in Sagamu, Ogun State that Afrixembank is addressing the problem.
“Due to poor quality over $700 million worth of agro-produce are rejected from Europe alone.
“About 76 per cent of exports from Africa are rejected annually. We are working with a lot of organisations to create the framework for the harmonisation of standards across the continent,” he disclosed.
Oramah said African businesses are set for a major transformation as the African Continental Free Trade Agreement (AfCFTA) opens up new markets across the continent.
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Meeting international standards
Oramah stressed African products must meet international standards to make their mark in other countries around the world, which is why Afrixembank is working with several bodies to harmonise standards on the continent, per Vanguard.
“The AQAC in Ogun State will help deliver the highest quality African goods, strengthening their competitiveness and providing confidence to buyers.
“This is an important step, not only in underpinning the ‘Made-in-Africa’ brand but as a driver for greater exports, increased manufacturing and more resilient economies across the continent.”
The AQAC is a wholly owned subsidiary of Afreximbank’s Fund for African Export Development (FEDA).
Marc Roussel, Senior Vice President Africa of Bureau Veritas, the technical company that will operate the centre, said quality agricultural produce is the foundation for ensuring food security in Africa.
“Bureau Veritas will operate the facility, which will provide testing, certification, and inspection services for food and agri-products for export as well as domestic consumption.”