‘Inability to meet standards, regulations plaguing nigeria’s exports’

‘Inability to meet standards, regulations plaguing Nigeria’s exports’

By : Eniola Daniel

Date: 16 November 2024 4:51am WAT

Trucks parked on the road side waiting to get access into Tincan port in Apapa, Lagos, on January 11, 2021. - At the beginning of 2020, just before the coronavirus crisis, 99% of exports and more than 89% of imports passed through the seas, almost exclusively via Lagos. PIX by Benson Ibeabuchi / AFP)

Despite Nigeria’s enormous potential to export products to Europe, the inability to meet standards and regulations remain the big issues.

The Chief Executive Officer (CEO), Top3 Solutions, Dr. Fatoumatta Gaye, said this at the National Business Masterclass in Lagos.

The programme, organised in partnership with the Institute of Certified Business Consultants Canada and Optiss Capital, brought together business leaders, entrepreneurs, and international investors to discuss and engage in strategies designed to accelerate business growth and position Nigerian businesses for global markets and boost exports.

Gaye said: “Nigeria is facing a very difficult situation when it comes to the economy, so we need solutions that will help businesses to thrive. I came up with this project and I thought that Nigeria would be the most suitable place to start. Nigeria is a big market that could further impact the entire African continent.”

On the practical steps in boosting Nigeria’s exports, she said: “We need to look at the regulations. Are we meeting the regulations? Is our branding proper? Is it acceptable when it comes to health? If it is food products, are we following the procedures of exportations? These are the things we want to teach people and make Nigerians understand that they have the opportunities to expand and export their products, but they need to follow procedures.

“Africans can’t ship anything to European countries and expect people to start consuming; standards must be met. We need to know if we are meeting the regulations, what it takes to export, and how to get tax incentives from the government. After Nigeria, we will move to Ghana, Gambia, and other countries.”

On his part, the Executive Assistant to Delta State Governor on External Relations and Diaspora Affairs, Chief Sunny Ofehe, said: “Our democratic institutions are not strong yet. Institutions play a very critical role. You have to be a player in international treaties. Even if we get it right in Nigeria, we still need to look at some of the fundamental laws that guide the World Trade Organisation (WTO). There are so many things that don’t favour Africa. Unfortunately, Africa is not moving forward with a united front to change that.”