NEPC seeks increased funding for non-oil exports
The
Nigerian Export Promotion Council has urged the government and
financial institutions to increase their support for the exportation of
non-oil products.
Acting Executive Director, NEPC, Mr.
Aliu Lawal, said this during a practical session/workshop organised for
stakeholders in exporting by the council on ‘Access to finance for
export.’
Lawal, who was represented by Mr. Faleke
Olusegun, said access to fund was one of the major challenges
confronting non-oil products’ exporters.
He said, “In Nigeria, access to finance
remains a big challenge despite the efforts of the government in
providing some interventions to some sectors.
“It is common knowledge that accessing
financial facility from specialised and commercial banks by exporters
had not been smooth, perhaps, because of lack of basic knowledge about
alternative funding sources and the inability to provide bankable
business plans.
He said the export sector would develop
faster if there was adequate financing, adding that exported products
have increased between 2009 and 2012.
“Nigeria’s non-oil export has been
growing very fast in the last five years for example; Nigeria’s export
has grown with an increase of more than 50 per cent. Currently, Nigeria
exports 117 products to about 103 countries.
“With the abundant resources at our
disposal, Nigeria’s export could do better if the financial requirements
are provided,” he added.
Acting Zonal Controller, NEPC, Lagos,
Mrs. Obidike Evelyn, noted that the workshop was tailored to offer
support to exporters by letting them know the available financial
options and tools.
“One of the critical determinants of a
successful export business is access to finance. This has hitherto
become a major constraint that needs to be addressed, she said.
http://www.punchng.com/business/industry/nepc-seeks-increased-funding-for-non-oil-exports/
October 11, 2013 by Sodiq Oyeleke
Written by NEWSTRAWL ONLINE UPDATE
Sodiq Oyeleke is a Media, Human Resources, Project Management and Public Relations Practitioner
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