The Federal Government of Nigeria in response to the crash in international crude oil prices is actively promoting the nation’s non-oil exports, and has put various incentives in place to encourage players in the industry.
Lubcon Group closely identifies with this desire of government, and is leveraging on the incentives to Export Nigerian non-oil commodities to earn foreign exchange, which will be used to import essential raw materials for Lubcon and its subsidiaries.
The operation will enable the Group get around the difficulties presently being experienced by manufacturers in obtaining foreign exchange, and the disruption that it causes to their production process. It is also expected that the export operations would provide the Group a cushion against the effects of the widely fluctuating foreign exchange rates that have been witnessed in the country in recent times.
Lubcon intends to focus on the following agricultural commodities that are extensively grown in the North Central Geopolitical zone in which it is located:• Sesame seed