The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has vowed to deal with exporters’ challenges via focused insurance policies, guaranteeing 2025 turns into a pivotal 12 months for the sector.
She made the pledge on Tuesday in the course of the Ministerial Export Session held on the Civic Centre, Victoria Island, Lagos, after listening to the considerations raised by exporters in the course of the interactive session. Dr. Oduwole promised to develop a complete motion plan with clear timelines to deal with these points.
The occasion introduced collectively the highest 100 exporters, together with Starlink International, Indorama, and OLAM, who account for 80% of Nigeria’s export quantity. Regulatory our bodies such because the Nigeria Customs Service, the Nationwide Company for Meals and Drug Administration and Management (NAFDAC), and the Nigerian Export
“We’ll assist you. We’ll serve you. And we’ll tackle this stuff,” she mentioned.
“What will get measured, will get finished. We’ll make an motion plan that we’ll deliver again to you with timelines. And I imagine 2025 goes to be an incredible 12 months.”
Exporters raised considerations over frequent rejections of agricultural produce in worldwide markets resulting from non-compliant pesticide use, logistical inefficiencies, excessive port prices, and points associated to the Nigeria Export Proceeds (NXP) type, which exporters should full for processing their export transactions.
In addition they highlighted inadequacies within the Export Growth Grant (EEG) scheme, which they famous has failed to supply enough incentives to assist export progress.
An agribusiness exporter emphasised the necessity for higher regulatory steering and farmer schooling to deal with pesticide compliance points.
“Lots of our agricultural merchandise are rejected overseas as a result of farmers lack correct coaching on pesticide use, and this impacts our fame in international markets,” he mentioned.
A consultant from Indorama famous that a number of levies and withholding taxes on freight and port operations considerably enhance export prices.
“These further prices make Nigerian merchandise much less aggressive globally, particularly when in comparison with items from international locations with extra beneficial insurance policies,” the consultant remarked.
A guide urged the Nigerian authorities to signal the Financial Partnership Settlement (EPA) to safe duty-free and quota-free entry to European markets.
“International locations like Ghana and Côte d’Ivoire already take pleasure in vital aggressive benefits via EPAs, and Nigeria should act rapidly to stage the enjoying subject,” the guide acknowledged.
Dr. Oduwole additionally acknowledged the assist of the Comptroller Normal of Customs in facilitating commerce and enhancing ease of doing enterprise.
The regulators within the Nigerian ecosystem additionally addressed considerations raised by exporters. Mrs. Nonye Ayeni, Govt Director of the Nigerian Export Promotion Council (NEPC), outlined key initiatives to deal with challenges, together with enhancing manufacturing, high quality, market entry, and worth addition.
Abba Bello, Managing Director of NEXIM Financial institution, addressed funding gaps for non-oil exporters, vowing to mobilize funds and companion with business banks to supply tailor-made credit score options.
“Entry to finance is a serious constraint, and we’re dedicated to bridging this hole to assist exporters of their progress and international competitiveness,” Bello mentioned.
Adeniyi additionally burdened the significance of regional cooperation below the African Continental Free Commerce Settlement (AfCFTA) and introduced plans for a 2025 regional assembly to harmonize export processes throughout Africa.
