The Nigerian Export Promotion Council, NEPC, has called for the support and collaboration of financial institutions in the promotion and Development of Non-Oil Export in the country.
The Executive Director/CEO of NEPC, Dr. Ezra Yakusak made the call in Abuja during a capacity building organized by the Council for Export Desk Officers of various Banks in the country with the theme, ‘Enhancing Non-Oil Export Growth through Effective Export Procedures, Documentation and Logistics’.
Dr. Yakusak said the training which was the first being organised by the NEPC marked a significant milestone in the Council’s continuous effort at strengthening collaboration in promoting export competitiveness to achieve the economic diversification agenda of the Federal Government.
“As you are aware, the non-oil export sector plays very important role in the economic development of our nation. The sector presents great opportunities for more Nigerians to participate in the global market space and it is on record that Nigeria is endowed with immense potential in some of the world’s most traded products such as; cocoa, ginger, cashew, soya bean, sesame seed, palm oil, rubber, shea, gum arabic etc” He stated.
According to him, statistics have shown that the country is not benefiting maximally from its vast export potential because of a number of issues such as; knowledge gap, access to finance, cumbersome procedures and documentation, poor packaging among others.
“These factors constitute major challenges being faced by exporters.and as a matter of fact, access to bank financial services by exporters is one of the major challenges stifling the smooth growth of non-oil export” Dr. Yakusak explained.
The Executive Director of NEPC pointed out that this is due to high interest rates and low disbursement of credit facilities to finance non-oil export trade. This has ultimately affected the nation’s non-oil export performance because most exporters lack the financial muscle required to set up modern export related industries and ensure production of high quality products.
In a paper presentation titled “Promoting Non-Oil Export In Nigeria: Our Vision, Our Approach”, the Assistant Director, Policy and Strategy Department in NEPC, Mr Aliu Sadiq said financial institutions have greater roles to play towards realizing the diversification of the nation’s economy through the Export of Non-Oil products.
Also in a paper presentation titled “Promoting Export Competitivness through Efficient Export Procedures, Documentation and Logistics”, the Managing Director, Export Logistics, Lagos, Mr Kola Awe advised the participants to contribute their quota towards complimenting the efforts of NEPC in making Non-Oil products vibrant income earners for the country.
About one hundred Export Desk Officers from twenty nine banking Institutions participated in the capacity building training.
Mathew Ayoola Edited By Grace Namiji
Written by: Bukky Alabi
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