Export Trade: FCMB rallies operators to diversify and stimulate economy | The Guardian Nigeria News - Nigeria and World News

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Nigeria's vast non-oil endowment must be urgently leveraged to diversify and expand its revenue base, reduce the dependence on crude oil for foreign exchange earnings, and stimulate rapid economic growth.

Group Head, SME Banking, First City Monument Bank , George Ogbonnaya; Regional Co-ordinator, Nigerian Export Promotion Council, Mr. Samuel Oyeyipo; President, Cocoa Association of Nigeria, Mr. Mufutau Abolarinwa and an Export Consultant, Mr. Francis Ojadi, during a Seminar on ‘’Refocusing Nigeria’s Economic Development Through Non-Oil Exports’’organised by FCMB held on November 1, 2022 in Lagos.

In her opening remarks, Mrs Yemisi Edun, Managing Director of FCMB, identified non-oil export as a catalyst for rapid economic growth. She said it would reduce Nigeria’s vulnerability to external shocks undermining the economy. Mrs Edun affirmed FCMB’s commitment to the sector, especially opportunities in the African Continental Free Trade Area.

According to the NEPC Boss, Nigeria’s abundant natural resources provide a good and solid base for rapid industrialisation if we make the necessary financial provisions. He disclosed that huge opportunities abound for Nigerian manufacturers that can get it right in Nigeria and other African markets. Addressing export trade stakeholders, Col. Hameed Ali , Comptroller General of Nigeria Customs Service, harped on the agency’s role as a conscious trade facilitator. The Controller of Kirikiri Lighter Terminal Command, Comptroller Hammi Swomen, represented him at the Seminar. Col. Ali said the agency had re-engineered its process to ensure that exporters and Nigeria benefit from global trade.

 

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