Report reveals less than 1,000 companies exporting in Nigeria

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A report has revealed that less than 1,000 companies are currently undertaking non-oil exports in Nigeria.The

report by 3T Impex Consulting attributed the low exporting companies to some bureaucratic bottlenecks, financial constraints among others. The report themed: “Stimulating Export Finance Growth also revealed that 94 per cent of exporters could not access loans from… report by 3T Impex Consulting attributed the low exporting companies to some bureaucratic bottlenecks, financial constraints among others.

The report also revealed that 81 per cent of the rejected financing was pre-exports, while 19 per cent was pre-shipping. He stated that export is the low-hanging fruit that can help Nigeria increase its foreign exchange generation. He enjoined Ministries, Departments and Agencies of government and other private stakeholders to work together to speed -up the clearing of goods at the ports.

The Chief Executive Officer, National Export Promotion Council , Ezra Yakusak, said that export business requires sustainable funding, because the amount required for exports are huge.

 

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