Value of Cotonou Agric Exports $200 Higher Than Nigeria’s Price Tag

The chairman of the Commodity Exporters Association of Nigeria, CEAN, Mr Bunmi Olumekun, has revealed that agricultural exports from the Republic of Benin are bought at $200 more than the amount offered for agriculture exports from Nigeria.

The CEAN Boss, who spoke with newsmen on a new port cost regime for agriculture export cargoes, lamented that the importing countries offer $200 more for cashew exports from the Port of Cotonou.

Olumekun explained that the trend was encouraging smuggling of the cashew product from Nigeria through Ogbomosho to the Port of Cotonou, where the products are repackaged and exported for the exporters to earn more.

He said: “Recently I was in Dubai with Segun Awolowo, who is the CEO of the Nigerian Export Promotion Council (NEPC), where we found out that the value of Cotonou produce is $200 higher than Nigerian.

“For this reason, our cashew produce are being smuggled through Ogbomosho and smuggled to Cotonou where they are packed as products from there and are better paid for. It was very disheartening to discover this,” he said.

To this end, he called on the federal government to help improve the quality of commodities from Nigeria, as well as instill sanity in the port processes, noting that the agencies at the port were not following international guidelines on exportation.