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Home ยป We’ll Tackle Bureaucratic Challenges in Export Subsector – Trade Minister

We’ll Tackle Bureaucratic Challenges in Export Subsector – Trade Minister

Staff Writer by Staff Writer
November 28, 2024
in Commerce
0
Dr. Jumoke Oduwole, Trade Minister and export
Dr. Jumoke Oduwole, the minister of Industry, Trade, and Investment

Dr. Jumoke Oduwole, the minister of Industry, Trade, and Investment

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Dr. Jumoke Oduwole, the minister of Industry, Trade, and Investment, has promised that the regulatory and bureaucratic challenges bedevilling exporters will be systematically addressed.

She made the remark during a ministerial export consultation held in Lagos, where she applauded the top 100 exporters who had contributed to the growth of the economy.

Oduwole emphasised the importance of exports in driving economic growth, creating jobs and enhancing foreign exchange earnings and called for collaboration amongst the agencies and exporters to make the economy work.

She noted that the ministryโ€™s support was not only for Nigerian exporters of goods and commodities, saying โ€œwe are also supporting Nigerian exporters of services, which is one of the lowest hanging fruits, for giving Nigerian youth the opportunity to earn foreign exchange while living in Nigeria by exporting their services.

She promised the exporters and agencies that all their valid points raised will be addressed, saying that โ€œthe President has given me the matching orders and together with colleagues, we are going to deliver this for the Nigerian economy.โ€

Also, permanent secretary, Ministry of Industry, Trade and Investment, Nura Rimi said stakeholdersโ€™ consultation engagement is tailored towards strengthening Nigeriaโ€™s export sector.

โ€œThis gathering marks a significant step forward in the Ministryโ€™s commitment to fostering inclusive engagement with stakeholders towards advancing Nigeriaโ€™s economic diversification agenda and our collective effort to enhance and expand our Nationโ€™s export capacity.

โ€œConsultation provides us with a platform to deliberate on the challenges and opportunities shaping Nigeriaโ€™s export landscape. We are here united by a shared commitment to improving the effectiveness and competitiveness of our export sector. As a nation, we recognize the critical role of exports in driving economic growth, creating jobs, enhancing foreign exchange earnings, and positioning Nigeria in the competitive global marketplace.โ€

He emphasised that โ€œthe Ministry remains steadfast in its mandate to create enabling policies and frameworks that enhance export competitiveness. Through the feedback and insights from this engagement, we aim to fine-tune interventions, tackle critical points such as market access, regulatory, bottlenecks, and infrastructural constraints, and ensure alignment with global best practices.โ€

On his part, the Comptroller-General of the Nigerian Customs Service (NCS), CGC Adeniyi Wale urged exporters to drive Nigeriaโ€™s economic growth.

Wale commended exporters for their contributions to the countryโ€™s economy and called for increased momentum in export growth. He noted that the Nigerian economy is moving in the right direction, with a slight increase in GDP from 3.9 to 4.2.

He attributed this growth to the efforts of exporters and pledged the support of the NCS in addressing challenges facing the export sector.

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