How to benefit from global niche markets’
Written by on March 15, 2022
Nigerian exporters in the non-oil sector have been urged to look into the niche markets to benefit from abundant opportunities in the United States, United Kingdom and the entire European Union niche markets.
The Executive Director of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, made this call at Ibadan during a workshop for non-oil exporters tagged: “Positioning Nigerian products in certified niche markets in the USA, UK and EU.”
Speaking through an official of the NEPC, Mr. Bello Akoyi, Yakusak said Nigerian non-oil exporters have so much to gain participating in niche markets than trying to swim in the larger ocean of the export market.
Objective of the workshop organised by the NEPC includes getting exporters and prospective exporters sensitised on niche markets in their export businesses, educating participants on the various benefits of adopting district features at satisfying specific needs of target markets and sensitising prospective exporters on the activities of the Council and how they can access the services to boost their exports.
According to Yakusak, the NEPC is mindful of various challenges Nigerian exporters are faced with and ever ready to assist according to the aims of the organisation.
In her opening remark, Trade Promotion Advisor, NEPC, Ibadan Export Assistance Office, Mrs. Bolanle Emmanuel, said there are many non-oil exportable products for specific niche markets which could earn foreign exchange for the country.
She also mentioned that a niche market is a small market segment of a larger market with its particular needs which are different from the needs in the larger market.
Chief Executive Officer of the Institute of Export Operations and Management, Mr. Ofon Udofia, took participants on how to benefit from the robust niche market available in the UK, EU and the USA.
He also listed the hottest non-oil exports from Nigeria to include Ginger, Honey, Spices, Garlic and Cosmetics and Soaps, Palm Kernel Oil, Cocoa,
He added that“These are products that are sold directly to the end-consumer, and as such certification in fact ensures market access.