The Vice President of Nigeria, Sen. Kashim Shittima on Tuesday charged the government at all levels and the Micro, Small and Medium Enterprises (MSMEs) in Nigeria to make use of the opportunities that avail in the African Continental Free Trade Agreement (AfCFTA) in order to prevent the country from becoming a dumping ground for products manufactured in other nations.
Speaking in Abuja at the 3rd National Conference on Non-Oil Export organized by the Nigerian Export Promotion Council (NEPC), Shettima explained that it is important for the country to increase Its manufacturing capacity.
“With Nigeria as a signatory to the African Continental Free Trade Agreement (AfCFTA) boosting about 1.4 billion markets, there is a need for relevant stakeholders both from the public and Organized Private Sector (OPS) to proffer solutions to the myriads of challenges that are likely to inhibit Nigerian entrepreneurs from maximizing the opportunities offered by the AfCFTA.
“We cannot afford to be a dumping ground for all sorts of goods. At the end of the conference, I expect these issues to be addressed and a communique issued”.
He said “We also intend to strengthen and reform all regulatory frameworks that will facilitate seamless trade, enhance the ease of doing business, particularly for Micro, Small and Medium Entrepreneurs (MSMEs) business owners.
The Vice President applauded NEPC for organizing the conference, “I commend the Executive Director/CEO, Nonye Ayeni, and her management team for putting together this event.
“I believe its objective is to bring together critical stakeholders in the non-oil export sector to vent their ideas, innovate, and chart a roadmap for repositioning the sector as a key driver of the economy.
On her part, the Executive Director of NEPC, Nonye Ayeni noted that the current state of the country’s economy from the perspective of a Trade Promotion Organization (TPO), like the NEPC, offers a golden opportunity to diversify the productive base of the Country through non-oil export.
“This is evident from the giant steps taken by this Administration through the “Renewed Hope Agenda’ towards the development and diversification of the economy which directly impacts on the non-oil export sector.
“The 6.26% increase in the Nigeria’s non-oil export earnings representing the sum $2.7 billion in the first half of 2024 can be attributed but not limited to the policy strides of His Excellency President Bola Ahmed Tinubu, the strategic achievement of the Council’s “Operation Double Your Export’ Mantra and concerted efforts by strategic stakeholders.
“This is a clear sign of the positive impact on the economy. To consolidate on these gains, we want to emphasize the importance of our collective vision.
“We must work together to foster a supportive environment for non-oil exports. This includes investing in infrastructure, enhancing trade policies, and empowering our local businesses to compete in the global market.
“Our flagship initiative “Operation Double Your Export” is not only to increase exports but also to create jobs, boost innovation, and enhance our overall economic resilience” she stated.
Ayeni said “We believe this is what the conference seeks to achieve by providing a veritable platform for ventilating ideas on current and emerging issues affecting non-oil exports and to provide a roadmap that will help stimulate an increase in non-oil exports, thereby diversifying the country’s revenue base away from oil for sustainable economic and inclusive growth”.
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