Stakeholders Seek Better Export Policy

Stakeholders in the export sector have called on government to expedite action and enforce policies towards resuscitating the failing non-oil export industry
The call was made by discussants at a forum tagged “KVL Export Round Table”, which was held in Lagos. They cited poor export incentives and poor infrastructure as some of the challenges limiting the growth of the non-oil export sector. It challenged the government to diversify the economy as the country cannot grow economically if it continues to rely on revenue from oil trade.
The discussants also identified the lack of domestic competitiveness, adequate information and documentation, and the undue liberalization of the economy which facilitates dumping of products made from Asian and other advanced economies into the Nigerian market, as some of the challenges facing the non-oil export sector.
The moderator of the discussion forum, Mr. Femi Boyede, managing director, Koinonia Ventures Limited, made a strong case for the diversification of the economy and for the government to make policies that will revive the non-oil sector as there was no future in oil – generated revenue.
“Our dependency on oil-revenue has badly affected our psyche and it is killing the non-oil export industry. Today, we are calling on the government to go back to the drawing board and review policies and practices that are not favourable to the exporter and also to apply a national export strategy which will inculcate the export culture in the country” Boyede said.
Speaking at the event, Niyi Oyemade, the Lagos State commissioner for Commerce and Industry, described the forum as timely intervention in the face of economic degradation and falling oil price. The commissioner added that such a forum would be helpful in guiding government policies.
Also at the forum were Mrs. Evelyn Obidike, Principal Manager, Market and Product Development, NEPC; Mr. Akin Adeoya, Publisher, M2 Magazine and Mr. Mu’azu MH. Ruma, Senior Manager, NEPZA, Lagos