Federal Ministry of Industry, Trade, and Investment has reaffirmed Federal Government commitments to creating an enabling policies and frameworks that would enhance the nation’s export products competitiveness at the global trade.
The government also pledged to address the current economic challenges, bolster resilience and unlock the immense potential of Nigeria’s export ecosystem.
Dr. Olajumoke Omoniyi Oduwole, the Minister of Industry, Trade and Investment, made the declarations while addressing the top 100 exporters who had contributed to the growth of the economy during ministerial export consultation engagement, tailored towards strengthening Nigeria’s export sector, held in Lagos.
Oduwole, also called on exporters to take advantage of Nigeria’s economic potentials, and pledged that the regulatory and bureaucratic challenges bedeviling exporters will be systemically addressed.
She specifically emphasised the importance of exports in driving economic growth, creating jobs, and enhancing foreign exchange earnings, and called for collaboration amongst the agencies and exporters to make the economy work.
She said: “Please encourage the Nigerian economy. The reforms may have been tough, but we’re already turning the corner. So let’s all continue together we can make this economy work
“We’re determined to make sure that the regulatory and bureaucratic challenges, which are well known to us coming from a public background, are systemically addressed.
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“I’m here to support all the agencies under the ministry and the Nigerian exporters”.
She noted that the ministry’s support was not only for Nigerian exporters of goods and commodities.
“We’re also supporting Nigerian exporters of services, which is one of the lowest hanging fruits, for allowing Nigerian youth to earn foreign exchange while living in Nigeria by exporting their services.
“They’re talented in areas of digital trade. Nigeria is going to be a leading, dominating force in that regard.
“There’s a lot of work ahead, no doubt, but the President is committed to this. We’re also going to establish and reinvigorate our Commodities Exchange. There’s a lot that we have geared up for Nigeria.
“Suffice to say that it will take everybody’s commitment. You’ve seen that the GDP is moving in the right direction. Please encourage the Nigerian economy. The reforms may have been tough, but we’re already turning the corner. So let’s all continue together we can make this economy work.
“So for collaboration amongst the agencies, you heard several both the exporters allude to the fact that I’ve been working on the private reforms for nearly a decade now.
“The challenges, the silos, the miscommunication, the overlapping, different agencies competing amongst each other, overlapping duties that make things cost more for the private sector.
“It’s nothing new to me, which is why I didn’t come here alone, which is why I didn’t have this consultation just in my office. A number of these exporters are well known to the public. We’ve had a national action plan that has worked on agro-exports in particular in 2021.
She promised the exporters and agencies that all their valid points raised would be addressed.
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