…Exporting made-in-Nigeria goods will resolve Forex challenges – Minister
The Federal Government has pledged renewed determination to the production of locally manufactured goods in a bid to grow Nigeria’s export capacity and earn more foreign exchange.
The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite disclosed this in Abuja yesterday while answering questions from journalists on how the government will drive non-oil exports to stem the current shortage of foreign exchange in the country.
Anite noted that the exportation of goods and services is paramount to helping Nigeria resolve its current forex challenges, stimulate the economy, boost entrepreneurship, and create employment opportunities.
She said, “It is important to prioritize the production, processing, and packaging of locally manufactured non-oil export goods for Nigeria’s economic growth and sustainable development.”
According to the minister, there is a crucial need to establish practical economic initiatives and implement trade policies aimed at addressing issues such as job and wealth creation, inclusivity, and, most importantly, policies that would encourage the growth of Micro, Small, and Medium Enterprises (MSMEs), which play a critical role in the national economy.
“The Federal Ministry of Industry, Trade and Investment has over the years worked closely with parastatals under its supervision to engender trade and facilitate industrialisation.” She said.
Rejection of Nigeria’s exports
Speaking on the actions of the governments towards ensuring that the story of Nigerian exports being rejected comes to an end, she said that,
“Only last year, under the Technical Committee on Export Rejects, the ministry working with the NEPC and other relevant Ministries, Departments, and Agencies (MDAs) of government, made valuable recommendations to the government on how to end the rejection of Nigeria’s products in the international market. This has led to a reasonable reduction in the amount of product rejected from our export baskets.”
“This development will not only preserve Nigeria’s reputation as a reliable trading partner but also increase the confidence of international buyers in Nigerian products.”
About the DEW project
The minister stressed the importance of the Domestic Export Warehouse (DEW) Project initiated by the NEPC in partnership with other government agencies as a strategic intervention to address supply-side constraints.
The DEW serves as a comprehensive facility for product storage, packaging, labelling, pre-shipment inspection, and fumigation, streamlining the export process and mitigating logistical challenges linked to port congestion.
She said the DEW Project, “With its streamlined processes and efficient logistics solutions, exemplifies the innovative spirit of our government in improving our export sector and making Nigerian products more competitive in international markets.”
