National Single Window will bring relief – CPPE
In its Africa Pulse publication, the World Bank specifically blamed the country’s dwindling foreign trade on poor infrastructure and inefficient logistics, among other factors.Nigerians ship goods to Ghana for certification to enhance export value The report further noted that the consequences of these distortions include preference of African producers to sell locally rather than export.
“The reduction in global demand for Nigerian products was further buttressed by the NBS report that confirmed that the manufacturing export value of Nigeria plummeted by 166% from 2019 to 2023. “How can exporters compete on a global scale without a deliberate intervention from the government? All hands need to be on deck.
“If exporters are to commit to repatriating their full export proceeds back to Nigeria, there are certain things exporters will like the government to equally commit to. For example, there is a need to review the items on the exports proceeds list in the CBN foreign exchange manual to ascertain and ensure the list is still relevant and updated to suit current needs.”
“If we don’t pay attention to security so that people can go back to the farm, if we don’t pay attention to interest rate so that the productive sector can get money to do business, if we don’t pay attention to logistics so that people can even move their products with ease, then we have not started.
Ayeni, who was represented by Mr Samson Idowu, North-Central Coordinator of the council, said that GACC has clear but stringent requirements for exporting products to China.
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