By Alli Abiola
Network of Practicing Non-oil Exporters of Nigeria (NPNEN) has advocated prioritization of non-oil export to address myriads of challenges causing constant instability and increasing hardship in Nigeria.
Acting Executive Secretary of NPNEN, Mrs. Titi Ojo, who made the call during the March edition of the monthly webinar series, Talking Trade with Olufemi Boyede, said ‘this singular action will redefine Nigeria’s economy, if executed right’.
The webinar was titled, “Export for Survival: Charting the Course for (Nigeria’s) Export Success” and was executed as a participant-led engagement.
“Economically, in Nigeria, things are in shambles. In a country where the oil sector accounts for up to 95% of foreign exchange earnings and 80% of budgetary revenues, export is the answer, not draconian regulatory policies showing up from nowhere,” Titi Ojo posited.
Referring to 2020 when a barrel of crude oil became cheaper than a bottle of soft drink in Nigeria while the world grappled with the ravaging COVID19 pandemic, she affirmed that “No one was interested in buying crude oil. That offered a clear opportunity for a possible turning point in Nigeria’s economy. In the last quarter of 2018, the contribution of non-oil exports was as low as 3.4%, an extreme contrast to the 1960s when Nigeria’s non-oil exports accounted for more than 66% of the country’s total export. It was disturbing to read the IMF report that while countries like Tanzania and Cameroon had added 95 new exportable products between 1990-2022, Nigeria had only added 7 new products during the 30-year period.”
Mrs. Ojo acknowledged efforts of Nigerian Export Promotion Council (NEPC) in making more citizens embrace the export of made-in-Nigeria products to boost the country’s economy and attract Foreign Direct Investments (FDIs).
According to her, NEPC is working assiduously to create an enabling environment for exporters and working on the enactment of enabling laws to drive export.
Highlighting other dilemmas that non-oil exporters face, Mrs. Titi Ojo listed the following, delayed time at the port where it takes up to 45 days to clear containers, compared to 5-10 days in neighbouring countries; lack of flexible financing for exporters; lack of synergy between exports-supporting MDAs of government; and lack of enabling environment, policies and regulations.
Ojo further suggested strategies to advance Nigeria’s success in the non-oil exports sector to include investment in the procurement of data to be used for evidence-based advocacy; extending consultation with the necessary government agencies and bodies, and feedback on the performances of ongoing reforms by using reporting tools at reportgov.ng and other relevant websites.
She called on MDAs of the government to synergise effectively to achieve the agenda of Nigeria’s export survival and ensure “solid handshake” between governments and the private sector.
