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The Nigerian government has committed to enhancing the export capacity and quality of locally owned enterprises ( Local business).
The Federal Government of Nigeria is intensifying its dedication to improving the quality of domestically manufactured products with the aim of strengthening Nigeria’s export capacity, thereby increasing foreign exchange earnings.
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Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, emphasized the importance of giving priority to the production, processing, and packaging of non-oil export goods for Nigeria’s sustainable development. Speaking in Abuja, she stressed the need for practical economic programs and trade policies that address critical issues like job creation, wealth generation, and the growth of Micro, Small, and Medium Enterprises (MSMEs), which play a vital role in the national economy.
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Uzoka-Anite highlighted the collaborative efforts between the Federal Ministry of Industry, Trade, and Investment and its affiliated agencies. She pointed to a recent achievement through the Technical Committee on Export Rejects, where valuable recommendations were made to reduce the rejection of Nigerian products in the global market. This has significantly decreased the volume of rejected products in Nigeria’s export offerings.
This accomplishment not only upholds Nigeria’s reputation as a reliable trading partner but also boosts the confidence of international buyers in Nigerian products.
To address a critical supply-side challenge, Uzoka-Anite introduced the Domestic Export Warehouse (DEW) Project initiated by the Nigerian Export Promotion Council (NEPC) in cooperation with other government agencies. This project provides a consolidated facility for various pre-export operations, including storage, packaging, labeling, pre-shipment inspection, and fumigation of goods. It streamlines logistics and mitigates challenges related to port congestion.
Uzoka-Anite emphasized that the DEW Project exemplifies the government’s innovative approach to enhancing the export sector, ultimately increasing the competitiveness of Nigerian products in international markets.
The government believes that robust exports of goods and services are crucial to addressing the current foreign exchange challenges, revitalizing the economy, promoting entrepreneurship, and creating employment opportunities for Nigerians. This commitment signifies a significant step towards empowering local businesses and propelling Nigeria’s economic growth.
