NEPC CEO Encourages People to Stop Complaining and Seize the Various Opportunities Offered by the Government.
In a recent video, Nigerian entrepreneur Sir Abdullahi, affiliated with the Nigeria Export Promotion Council, asserted that a trade agreement established by President Bola Ahmed Tinubu in 2024 with Saudi Arabia brought his business a $270 million advantage and generated over 500 jobs. He attributes the deal to an increase in opportunities for Nigerian agro-exports, though experts warn against viewing it as an instant financial windfall for individuals, citing the intricacies of international trade.
According to Abdullahi, the 2024 agreement, which emphasizes soybeans and red meat exports, has enabled him to build a prosperous agro-export enterprise. He contends that many Nigerians are missing out on opportunities because they are preoccupied with lamenting the country’s economic issues instead of capitalizing on available prospects.
“President Tinubu didn’t go to Saudi Arabia merely for talks; he brought back tangible results,” Abdullahi stated in the video. He claims his business has flourished due to the deal, stating he’s earned “billions of Naira” in profits.
Although the trade agreement has been confirmed by various Nigerian news sources, economists point out that it is intended as a framework for potential trade rather than direct financial gains. Dr. Adebayo Olufemi, an economist at the University of Lagos, clarifies, “The $270 million figure represents the anticipated export value under the agreement, not an amount distributed to businesses. It’s a target that relies on various factors, such as production capacity and competitive pricing.”
The video also highlights a free training program organized by the Nigerian Export Promotion Council (NEPC), led by Ms. Noye Ayeni, designed to equip Nigerians for participation in export trade and utilize e-commerce platforms like Alibaba and Amazon. Abdullahi encourages viewers to join, promising to reveal his “secrets” to successful exporting.
Nonetheless, there are concerns about the lack of specifics regarding Abdullahi’s business practices, the exact nature of his exports, and the concrete connection between his achievements and the presidential trade deal. The claim of “billions of Naira” in profit remains unsupported, and an advertised date for the NEPC training in the video is listed as April 23rd, 2025, which may be a mistake.
“While the NEPC training is a commendable initiative, it is important to approach success stories like this with skepticism,” cautions trade consultant Chidi Okoro. “Exporting is a multifaceted process with notable challenges, such as regulatory issues and logistics. A trade deal provides possibilities, but it doesn’t assure success.”
The video acts as an effective promotional instrument for the NEPC and the government’s initiative to enhance non-oil exports. However, observers urge caution against simplified narratives and advise potential exporters to conduct thorough research and prepare for the complexities of international trade. The claim of a direct $270 million benefit should be regarded as potentially exaggerated and unsubstantiated.
