‘Government should implement incentive schemes to boost non oil export’
Speaking at Afriexporter Expo 2018 conference and exhibition held recently in Lagos with the theme: “Nigeria Export Industry: Product, Prospect, Profitability”, Mamukuyomi stressed that most developing and developed nations provide incentives to boost exports and advised the government to follow suit.
He however commend the government for reviving the Export Expansion Grant scheme, describing it as a scheme that buffers some of the cost disadvantages faced by Nigerian exporters.
According to him, a lot has to be done rapidly to translate the policies into action to gain credibility as there must be a political and legislative will to bring these policies to fruition.
He explained that the international expo is designed to promote and facilitate international trade between the Americans, Asia, Caribbean, Europe, United Arab Emirate and Nigeria as well as other countries in Africa as it provides a platform for African businesses to connect global investors and financial providers, with major focus on key economic sectors.
The Chief Executive Officer, eBSI Export Academy in Ireland, who is also a partner of the event, Thomas Smith applauded the present government for renewing its commitment to export sector’s growth, hence urged the government to do more as exports from Africa to the European countries over the last 10 years fell from 8.7 per cent in 2006 to 7.6 per cent in 2017.
“Nigeria has faced an unfair share of economic challenges over the last few years and the business environment has become tougher, but it is encouraging to see green shoots appear in the export outlook thanks to renewed government commitment to export growth.
“I am happy to say that in terms of Irish exports that Ireland is our number one export destination into Africa.
This is appropriate given the importance and size of the Nigerian economy within the continent. European, American and especially Chinese interest in Africa has grown significantly over the years and is reflected in media programs” he said.
Guest speaker, Judson B. Welsh advised the government to change its mindset toward exportation of non oil products especially agriculture.
“Nigeria has to change its mindset and the mindset is on agricultural industry, to process agricultural goods for sale nationally, regionally and internationally. So that is what this is about;
Nigeria has no export industry; it only has oil and gas. So until it develops the export industry, Nigeria is zero on the export line as they lack the knowledge and standard required for agricultural products and packaging.
“When I first came to Nigeria, they were exporting palm oil, cocoa; somehow over the last four years Nigeria forgot how to export, they are stuck on a single trap going nowhere called oil and gas.
Nigeria should change her mindset toward the financial sector and agriculture and should be smart enough to take the opportunity offered by agriculture production process” he stated.
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