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KEGOZ MARKET WATCH KEGOZ BULLETIN · 12 NOV 2026 ·UPDATE
  • PMS · Current panel median₦1,254/L▼ ₦10
  • DIESEL (AGO) · Current panel median₦1,704/L▼ ₦0.50
  • COOKING GAS (LPG) · Current panel median₦1,405/kg▼ ₦32.50
  • BRENT CRUDE · 11 Nov settlement$92.76/bbl▲ 1.4%
  • USD/NGN · NFEM closing rate · 11 Nov₦1,364/$1
  • USD/NGN · Parallel · 12 Nov bulletin₦1,430/$1
  • DANGOTE PMS · Depot · 12 Nov panel₦1,215/L
  • DANGOTE AGO · Gantry · From 10 Nov₦1,720/L
  • DANGOTE LPG · Last quote 9 Nov₦1,150/kg
  • NNPC PMS · Lagos pump · 4 Nov₦1,355/L
Source: KEGOZ Daily Trading Intelligence Bulletin, Issue 068, 12 Nov 2026. Indicative prices; quote dates vary. Product medians use today's panel; changes compare the same depots' previous quotes, not the last bulletin. Dangote PMS depot quote differs from the ₦1,250 loading price reported 11 Nov. Dangote LPG quote is dated 9 Nov; confirm current rate. Verify with suppliers before trading. Not a live feed.

Palm Kernel Shell Export Ban: IEOM Seeks Solution Through Stakeholder Engagement

The Institute of Export Operations and Management (IEOM) has brought together regulators, exporters, freight forwarders and other value chain operators to address challenges surrounding the suspension and ban on Nigeria’s palm kernel shell (PKS) exports.

The suspension, industry experts say, has exposed weaknesses in Nigeria’s non-oil export processes and highlighted challenges confronting stakeholders, particularly exporters.

At an Export Breakfast Meeting held on Tuesday in Port Harcourt, the institute convened stakeholders to investigate the circumstances surrounding the export ban and identify practical solutions to restore Nigeria’s palm kernel shell exports.

The meeting, according to the Executive Secretary of IEOM, Dr Ofon Udofia, was aimed at identifying lapses that led to the infestation of exported palm kernel shells with maggots and determining how the country could return the commodity to the international export market.

The meeting attracted representatives of the Nigeria Customs Service (NCS), Neroli, logistics operators, freight forwarders, exporters and other government agencies.

Participants, through a panel discussion, examined issues bordering on efficiency, regulatory compliance and transparency, with a view to developing an “Export Without Stress” framework for Nigerian exporters.

Speaking at the event, Udofia said the meeting was designed to provide a platform for stakeholders to share experiences and collectively address challenges affecting the export value chain.

He urged regulatory agencies, service providers, logistics operators and exporters to strengthen collaboration to create a more efficient and enabling environment for Nigeria’s non-oil export sector.

“At IEOM, we recognise that developing a competitive export sector requires more than the efforts of individual exporters. It requires effective collaboration among regulatory agencies, service providers, logistics operators and the private sector,” he said.

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Udofia urged participants to engage in frank discussions and offer recommendations capable of translating into tangible improvements in export operations.

“Our objective is not just to discuss problems but to leave with ideas and recommendations that can translate into tangible improvements in our export processes,” he added.

During the panel session, a foremost freight forwarder, Dr Chineyere Okere, and a representative of the Nigeria Customs Service, Magaji Muhammad, stressed the need for improved operational efficiency and collaboration among stakeholders to strengthen the non-oil export sector.

Jerome Nsikan of Neroli maintained that the infested palm kernel shells could not have passed through proper inspection procedures, while Okere noted that such incidents could occur anywhere in the world but called for increased vigilance among operators.

Other participants, including Gbalome Epiah and Ejimadu Onyema, also made contributions to the discussions.

Stakeholders called for a thorough investigation to establish the point at which the infestation occurred, while some demanded appropriate sanctions against individuals or organisations found culpable.

Contributing from the audience, palm oil producer and entrepreneur, Ikechukwu Amajuoyi, urged regulatory authorities investigating the incident to extend their inquiries to production and processing clusters, where he alleged that several operational lapses were occurring.

Some participants also questioned the credibility of certificates issued by inspection agencies to certify agricultural products as fit for export.

Others proposed the establishment of a final inspection centre where agricultural products would undergo another round of checks before being transferred to shipping companies.

The exporters maintained that accountability must be established, insisting that those responsible should bear the financial consequences of rejected palm kernel shells and other agricultural commodities rejected by international buyers.

In his remarks, Udofia lamented the vulnerability of exporters, describing them as orphans who often have nowhere to turn when losses result from the failures of other stakeholders in the export chain.

He called for a coordinated stakeholder action framework to protect exporters from recurring operational failures, regulatory lapses and costly mistakes by service providers.

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