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Why Nigeria should focus on non-oil exports -NCTI
Worried by the dwindling fortines of the Nigerian oil sector, the National Council on Trade and Investment (NCTI) has called for increased participation and promotion of the thirty-six states in the promotion of non-oil exports.
Based on a 16-point communiqué issued at the end of the fifth meeting of the NCTI, the move would help to grow the country’s non-oil export sector.
According to the report of the one-year score-sheet of the Ministry of Trade and Investment, Nigeria exported non-oil products to 103 countries in 2011, valued at N428 billion, this figure represents a 19 per cent increase over the previous year’s result.
Despite this remarkable development, NCTI noted that in order to boost the nation’s non-oil export earnings and increase its contribution to the Gross Domestic Product (GDP), there is an urgent need to upgrade the existing states’ export promotion committees to export promotion agencies to complement its efforts as an agency.
According to the communiqué: “The NCTI noted the need for states to be more involved in non-oil export promotion activities and urged them to, as a matter of policy, upgrade the existing states export promotion committees to export promotion agencies in order to complement the work of NEPC towards improving value addition activities.
“It recognized the importance of skills acquisition in industrial development but noted that several agencies appeared to be involved in the establishment and administration of skills acquisition centres. To this end, the council has urged the Industrial Training Fund to strengthen its liaison with these agencies, including state governments that run such outfits. The NCTI also recognizes the critical role Produce Inspection Services plays in export commodities quality control.”
However, it noted that the function of States Produce Inspection Services resides in ministries other than commerce, industry and investment as the case may be, and urged states to ensure that the function of Produce Inspection be appropriately domiciled.Share