Processed wood exporters seek share of $152.94bn market as FG lifts ban

Exporters of processed woods have intensified efforts to reap from the exportation of the product with market value put at over $152.94 billion for the year 2023 following the recent lifting of ban for its exports by the Federal Government.

They are also targeting the exportation of charcoal with a current market value put at over $5.41 billion respectively.

The government has conditionally lifted the ban on charcoal and processed wood export in a bid to revamp businesses, especially those converting waste to wealth and thereby increase the country’s foreign exchange earnings.
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Minister of Environment, Mohammed Abdullahi, disclosed this in Abuja at a Stakeholders’ Consultative Meeting on the review of the ban on charcoal and suspension of processed wood and other allied products.

Abdullahi said: “The Ministry has observed that many businesses have been unintentionally affected especially those converting waste to wealth for export by the ban. As a responsible government, we would not be rigid in our policies, and will always listen to citizens on how these policies affect them.

“After careful deliberations, I hereby pronounce the conditional lifting of ban/suspension on the export of charcoal and processed wood respectively.”

Abdullahi, however, reiterated that the government’s decision is an opportunity for private sectors and individuals to massively invest in plantations for future utilisation.

He also cautioned operators in the industry to adhere to the Nigeria Timber Legality Standards and Guideline for Wood and Charcoal Export to avoid prosecution as the decision to lift the ban could be revisited by failure to comply with the laid down rules and regulations.

In his comments, the Executive Director of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, commended the government for lifting the suspension on the export of both commodities but warned exporters to play by the rule if they intend to maximize the opportunities presented with the recent development.

Yakusak said the council was, more than ever before, ready and willing to support Nigerians who wish to export the said products by providing seamless trade facilitation.
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