Thankfully,
presently the non-oil sector holds the key to an economic revolution that would
catapult the nation into an economic super power. Given the potentials of the
sector to turn the economy around through diversification of the nation’s
revenue base from oil to non-oil coupled with its capacity to provide the need
for the economic planners to formulate policies that would help stimulate
robust activities in the sector
Before now
Nigeria economy has been run solely on oil, practically all government at all
level depend on proceeds from oil. The Ministry of Trade and Investment has
clearly articulates the industrialisation roadmap of the nation in the Nigerian Strategic Export Products (NSEP)
to replace oil.
Experts have
called on agencies of government and commercial banks to deepen their support
for Small Medium Enterprises SMEs, through the provision of affordable funding
in order to boost non-oil export activities in the sub sector. They requested
that Nigerian Export Promotion Council (NEPC)
should be present in all 36 states of Nigeria to drive the promotion of non-oil
exports effectively while sourcing alternative funding to enhance its
operation.
Tectono Business Review and
Tectono
Ventures Limited have developed a
comprehensive e-book on export operations, management and documentations. It contains
export processes from beginning to the end. It was packaged to help new
exporters avoid pitfalls in exportation. To access it, click on these links.
Recently,
nine Nigeria firms had an impressive outing in Las Vegas, United States, where
made in Nigeria fashion accessories were showcased. The accessories which
enthralled lots of visitors as Nigeria products had neat and impressive
finishing. Among participants in the fair is Morin-O Ltd, owned by Miss Monrin
Obayewa who is into leather works such as bags, Purse, wallet and Puffs.
Miss Obayewa
has lots of praises for the NEPC, for the opportunity she has so far in
showcasing her products outside the shores of Nigeria. She said she sources her
leather materials from tanneries in Northern Nigeria of Kano particularly, she
is not using one tannery alone, she spreads round by moving from one tannery to
the other so she could get the best, so far she has achieved a lot by doing
just that, and it has worked for her tremendously.
The Morin O
Company is all out to promote made in Nigeria, all her products carry ‘proudly
Nigeria’. She said NEPC should keep doing what they are doing, stating that it
shows they have significant interest beyond just taking artisans to fares.
The CEO of
NEPC, Olusegun Awolowo, who was
represented by Special Adviser Technical NEPC, Morine Idozu, said the Export Promotion Council is working round
the clock to ensure diversification of the economy. She maintained that a lot
of leather seen world- wide comes from Nigeria.
Recent
development in the international economic and political scene has provided a
wakeup call on the need for a game changer for Nigeria. It is time to galvanise
a new initiative to reduce our over dependence on oil and diversify the
economy. Since reaching its peak in June 2014, the price of crude oil has
fallen roughly by 60%.
There has been
a steady growth in non-oil exports with the country raking in $2.970billion in
2013, a 15.9% increase over $2.561bn in 2012 with agriculture dominating in
2014 by contributing $1.465b and 53.99% of non-oil exports. All this gains are
being threatened by the re-curing issue of rejects of Nigerian exported
agricultural commodities and food items. (thisday)
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