FG Targets 3bn Dollars From Non-Oil Exports

The Federal Government has said  that it was working toward increasing the annual country's non-oil export revenue to three billion dollars.
The Acting Executive Director, Nigeria Export Promotion Council (NEPC), Mr Aliyu Lawal, said this in Abuja when he spoke with newsmen on the solo-exhibition of made-in-Nigeria products in Lome, Togo.
Lawal, who put the value of the non-oil exports for the 2012 at 2.56 billion dollars, expressed concern over the loss of revenue in the subsector through the informal export.
He also put the value of non-oil exports to the West African Region at 312.5 million dollars, noting that NEPC would put in place mechanism to ensure its increase by 20 per cent.
The executive director said the exhibition in Lome was attended by 67 Nigerian manufacturing companies to boost the non-oil export and showcase the Nigerian products in West Africa.
``Prior to the solo-exhibition in Lome, the current level of export was well below Nigeria’s potential within the West Africa sub-region.
``For instance, in 2012 Nigeria’s non-oil export to the West African Region stood at $313.5 million with export to Ghana taking the lion share of $143.02 million, representing about 46 per cent of the total exports within the region.
``In 2012, Nigeria’s export to Togo was about $40.6 million making it the third largest importer of Nigerian non-oil export within the region,’’ said Lawal.
According to him, the solo-exhibition is one of the strategies employed by the council to promote the non-oil export from Nigeria.
He said: ``Part of the objectives of the exhibition was to formalise the structure of our trade with a view to reducing the activities of smugglers on the border post.
``Given this tremendous feat, it is expected that trade between both countries will increase significantly in the years ahead as plans are underway to make Lome, a trade hub for Nigerian manufactured products in the West African sub-region.”
While noting the huge success recorded at the exhibition, the acting executive director, however, identified some challenges impeding against fostering business relations with Togolese.
Notable among them, he said, was non-implementation of the ECOWAS trade liberalisation scheme that guarantees free movement of goods and services.
He also identified inadequate logistics for transportation of goods from Lagos to Lome as another major challenge.
He said the made-in-Nigeria products on display ranged from pharmaceuticals, plastics, beverages, noodles, cosmetics, footwear to garments.
President Faure Gnassimgbe of Togo declared the exhibition open.
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