TRADE MINISTER PLEDGES COMMITMENT TO NON-OIL EXPORT

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The Federal Government has expressed a renewed commitment to enhancing the quality of locally manufactured products in a concerted effort to bolster Nigeria’s export capacity and accrue more foreign exchange. Dr. Doris Uzoka-Anite, the Minister of Industry, Trade and Investment, stressed the imperative of prioritising the production, processing, and packaging of non-oil export goods for Nigeria’s economic prosperity and sustainable development.

Speaking in Abuja, she addressed the media regarding the government’s strategy to bolster non-oil exports and mitigate the prevailing foreign exchange shortage. She emphasised¬† the necessity of implementing practical economic programs and trade policies aimed at addressing issues such as job creation, inclusivity, and, notably, policies that foster the growth of Micro, Small, and Medium Enterprises (MSMEs) as pivotal contributors to the national economy.

Furthermore, Dr. Uzoka-Anite highlighted the longstanding collaboration between the Federal Ministry of Industry, Trade and Investment and its supervised parastatals in promoting trade, and facilitating industrialisation. She pointed out a significant milestone achieved in the past year, wherein the ministry, in conjunction with the Nigerian Export Promotion Council (NEPC) and other pertinent government ministries, departments, and agencies, made invaluable recommendations to curb the rejection of Nigerian products in international markets.

This initiative led to a notable reduction in rejected products from our export portfolio, thereby safeguarding Nigeria’s reputation as a dependable trading partner and bolstering international buyers’ confidence in Nigerian products.

The Minister underscored the importance of the Domestic Export Warehouse (DEW) project, a collaborative effort between the NEPC and various government agencies. The DEW serves as a comprehensive facility for product storage, packaging, labeling, pre-shipment inspection, and fumigation in preparation for transportation to the ports.

Dr. Uzoka-Anite emphasised the project’s significance in assisting exporters with their pre-export operations, mitigating logistic challenges associated with port congestion. She hailed the DEW project for exemplifying the government’s innovative approach to enhancing the export sector, rendering Nigerian products more competitive in global markets.

Finally, Uzoka-Anite stressed that the export of goods and services is pivotal in addressing Nigeria’s current foreign exchange constraints, invigorating the economy, fostering entrepreneurship, and generating employment opportunities. The government’s steadfast commitment to improving the quality of locally manufactured products stands as a testament to its dedication to Nigeria’s economic advancement and global competitiveness.

 

 

 

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