NEPC Tasks Stakeholders On Investment, Trade Policy

The Executive Director/CEO of the Nigerian Export Promotion Council, NEPC, Dr. Ezra Yakusak says the first Developed Policy on Investment and Trade by the Federal Government will boost the Council’s Export for Survival Campaign.

Dr. Yakusak stated this in Abuja during a stakeholders’ sensitization programme on the Nigeria Investment Policy and Trade Policy being organised by the Federal Ministry of Industry, Trade & Investment.

He said the policy would also fast track diversification of the nation’s economy and enhance the capacity of MSMEs in the country.

“This event has come at an appropriate time when there is need for innovative approach to maximize the vast potential in the country for economic inclusiveness and sustainable growth and may I stress that on a cursory glance, the concept of Export and Investment Promotion are seemingly at variance, but a critical examination of the two concepts clearly indicates that they are closely connected and critical to the development of any nation” Dr Yakusak stated.

According to him, an effective investment policy plays a crucial role in promoting export growth by creating a conducive environment for both Domestic and Foreign Direct Investment (FDI), support export-oriented industries, builds critical infrastructure to stimulate export activities, create opportunity for foreign markets access and promote technological development.

The Executive Director explained that NEPC would support any policy or instrument that will positively change the trade trajectory of the nation and bring about foreign exchange earnings, job creation and economic diversification.

“Indeed, chapter 4 of the Trade Policy dwelt on Export Development and Promotion and it specifically indicated that the main policy thrust on export promotion is to;
enhance the capacity of Nigerian Manufacturers of export goods to engage in the production of high quality value added goods based on their increased awareness of the benefits of trade especially MSMEs by sensitizing them on tariff classification with preferences and enable them to access the benefits”.

“The policy also stated that Government shall adopt a dynamic export promotion policy and formulate strategies to enhance the marketability of exportable products through diversification, standardization and quality improvement” He stressed.

Dr. Yakusak assured that the NEPC would continue to collaborate with relevant stakeholders to ensure non-oil export growth for sustainable economic development.

Matthew Ayoola, Edited By Grace Namiji