Oduwole promises to address export promotion hurdles

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has promised to address challenges faced by exporters through targeted policies even as she noted next year would be pivotal for Nigerian businesses.

Speaking at a ministerial consultation in Lagos, she said the ministry brought together the top 100 exporters to deliberate with her team on their challenges, which limit exports. She promised to develop a comprehensive action plan with clear timelines to address the issues.

All regulatory agencies under the ministry, including Customs, SON, NEPC and NAFDAC were present “because we are determined to ensure that all bureaucratic challenges are systematically addressed”.

Not only is the ministry supporting exporters of goods, she said, but also actively supporting service exporters, which she described as the lowest-hanging fruit that allows youths to export their talents and earn foreign exchange (FX). She said Nigeria was set to become a leader in digital trade with the potential to revive Nigeria’s commodity exchange.

“Overlapping duties that cost importers and exporters more are not new to us and we intend to work on them with fresh eyes by streamlining the issues the exporters have raised. I have been giving the marching orders and together, we are going to deliver for the economy,” she said.

The permanent secretary, Nura Abba Rimi, said the consultation provided a platform to deliberate on the challenges and opportunities shaping Nigeria’s export landscape. He noted that export is key to reviving economic growth, creating jobs, enhancing FX earnings and positioning Nigeria to play in the competitive global marketplace.

He said Nigeria is becoming a leader in the global export market and that the ministry intended to fine-tune interventions, and tackle market access, regulatory bottlenecks and infrastructural constraints to ensure alignment with global best practices.

Permanent secretary of the Lagos State Ministry of Commerce, Cooperatives, Trade and Investment (MCCTI), Dr Olugbenga Aina, who represented the commissioner, Folashade Ambrose-Medebem, said the MCCTI has played a key role in ensuring that Lagos maintains its status as the industrial, commercial and economic hub of Nigeria and sub-Saharan Africa.