A Book Titled: Export Architecture Roadmap,
The Nigerian and Global Perspectives.
Author: Bala Yesusfu,
Reviewer: Justice Ilevbare
Pagination: 279
Publisher: University Press Plc
There has been consistent push to discourage government’s over-dependence on oil. This is largely due to the fact that over reliance on the oil sector has not done the country any good hence the urgent need to look at other non-oil sectors like Agriculture, which used to be a major export earner for the country.
Again, the fall in oil prices in the global market has brought about a sad story on the economy of the country and there are now more than ever before urgent calls for prospects into the non-oil exports.
The above narrative captures the mindset of Bala Yesusfu, Director, corporate and government affairs, West Africa of Cadbury, in his new book: Export Architecture Roadmap, The Nigerian and Global Perspectives.
In the book, the author unveils strategies of becoming an exporter in Nigeria and steps required to attain this status by raising and answering questions like, why is export important for individuals and nations? Who gains from exports? What happens to nations that pay little attention to exports?
In the author’s view, if the government seeks to revamp the non-oil sector to reduce dependence on oil as the only source of foreign exchange, exportation is sine qua non for achievement of that objective.
It is therefore understandable why the author displayed so much high passion about upgrading of Nigeria’s economy and optimistic that If there are consideration of other non- oil export the country’ earning will grow in leaps and bound.
There is also a deliberate attempt by the author to enumerate associated risks in export, while at the same time exposing intending exporters to exportable commodities and products, including the countries where they are needed.
The book looks at the burning issues relating to non-oil export from a global perspective but within the Nigerian context and its further serve as a guide in contemporary export business management.
Export Architecture Roadmap seeks among others to provide a direction for readers to understand how to draw up an export plan and why export is critical to survival of organisations. It takes the readers through factors such as investing in export business and the requirements for becoming a successful exporter.
The 17- chapter book clearly provides the readers a very clear focus on issues relating to export and possible solutions to overcoming the challenges thereof. At the launch of the book recently, Bala’s friends and associates were full of praises and encomiums on him for taking the initiative to contribute his quota in providing a roadmap for export architecture for the country.
“Bala has tried in his book to demystify export and clear the path for more business to rush into this lucrative venture,” Amb. Henry Macaulay said during the launch of the book late last year at the Nigerian Institute of International Affairs (NIIA), Victoria Island, Lagos.
Frank Aigbogun Publisher/CEO BusinessDay Media Limited also highlighted the timely intervention of the book in the Nigerian economy, “Export architecture roadmap is essential read for policy makers in government, and others involved in export story brilliantly and insightfully,” he said.
According to Managing Director/CEO Cadbury West Africa Amir Shamsi, Bala’s book could not have come at a better time than now “as Nigeria aims to build its second base cargo for its economy other than oil sector.”
Sanusi Lamido Sanusi, former Central Bank of Nigeria (CBN) Governor and current Emir of Kano, who wrote the foreword, described the book as a compendium of the robust and practical experience of the author in non-oil export business management.
No doubt, the launch of the book has added impetus to the growing call for a shift in over-dependence in oil sector and providing a road map for emerging and developing countries. The author can be said to be eminently qualified as an authority in non-oil export business management.
Bala’s use of simple and clear language makes it a book for everyone – students, government, exporters etc and further reinvigorates his interest in driving home his point and spreading the message contained therein.
For example, chapter one, takes the readers through what export entails and the rationale behind it.
He defined the word Export as shipping raw, value-added, packaged or refined commodities, products or services from one country to another and further explained why export is critical and how export can change the fortunes of Nigeria with practical example.
In chapter two, the author takes the readers through what is involved in becoming an exporter. He agreed that it is not possible to wake up just any day and become an exporter – he therefore stressed on the importance of trainings, market research, funding and institutions in the country that provides such funding among others. According to Bala, structuring export business for emerging opportunities is very important.
In chapter 15, he stressed on issues that surround setting up businesses that will later serve as collateral for loans.
Among others, a major takeaway from the book is the concept of currency swap, which the author discussed about in the concluding chapter.
Currency swap, according to Bala is fast gaining traction in international business and the parties involved in this are generally financial institutions that either act on their own or as agent for a non-financial corporation.
He believes that currency swap has a very great advantage of providing liquidity to exporters in the country. For example he talks about the Nigerian and Chinese industrialist and the benefits that accrue to them. Outlining a major advantage of currency swap, the author said, “The swap will provide Chinese currency (RMB) liquidity to Nigerian businesses, thereby improving the speed, convenience and volume of transaction between the two countries.”
With graphical details, illustrations and well detailed explanation, the author displayed his versatility in the world of export and proven to be an authority in the field.
Although, it is difficult to fault any part of the book nevertheless many would consider it too academic and a book that shouldn’t read in a hurry. But be that as it may, Bala’s knowledge and extensive research on the subject matter is worthy of mention and commendable.
SOURCE: oglinks.news