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500 Nigerian outfits to benefit from $400 billion Amazon market

“A company was selling a litre of honey here at N2,000, but when we got it into Amazon. It is selling at the equivalent of N18,000,” he pointed out.

Chief Executive Officer of Buy and Sell Nigerian Ltd Udeh Nduka says the company, through the Export Expansion Facility Programme (EEFP), is working to ensure that 500 Nigerian companies tap into the $400 billion monthly Amazon market.

“We are going to be reaching over 10,000 businesses, helping them to export in 2022 and also helping about 500 Nigerian companies to be listed on Amazon in 2022,” he stated. “These feats would not have been possible without the intervention of EEFP by NEPC.”

Mr Nduka disclosed this on Monday in Abuja.

The EEFP is being implemented by the Nigerian Export Promotion Council (NEPC). Part of the partnership would enable both institutions to train the non-oil exporters to label their products to meet U.S. regulators’ requirements, warehousing of the product, and listing and sales.

“We are basically a company that is helping businesses of all sizes to access the U.S. markets through a combination of training, export, free warehouse facilities in the U.S., finding buyers, and putting their products in Amazon,” he added. “Amazon do $33 billion sales monthly, and out of this we are looking at three billion dollars in food and another four billion dollars in cosmetics; and Nigeria has a lot of resources on these areas, especially food export.”

He also mentioned putting Nigerian products in the U.S. market, offering them warehousing, finding buyers, and having their products on Amazon.

“The NEPC’s EEFP has been amazing. One thing I like about it is its openness. We are into training and other things, and through that EEFP, NEPC gives us grants to help us expand and help thousands of businesses in Nigeria,” Mr Nduka further stated.

He revealed that EEFP “saw that we have put about 50 Nigerian companies on Amazon and they came and say, can we get 500 companies on Amazon; and that is the target they gave us and we are on track to achieve it.”

He explained that the 50 Nigerian companies that Buy and Sell Nigeria Ltd put on Amazon used to sell locally but are now earning dollars.

“A company was selling a litre of honey here at N2,000, but when we got it into Amazon. It is selling at the equivalent of N18,000,” he pointed out. “Another one was selling a black soap for N400 here. Now it is selling for N8,000 on Amazon.”




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