Lagos: Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, has expressed the Federal Government’s determination to address the regulatory and bureaucratic challenges exporters faced to drive a thriving export ecosystem. The Minister made this known at an export stakeholders consultation engagement on Tuesday in Lagos. She stated that the ministry was committed to re-establishing and reinvigorating commodity exchange, particularly as Nigeria journeyed towards an export-driven economy.
According to News Agency of Nigeria, all agencies under the Ministry of Industry, Trade and Investment would be supported to drive exports, particularly of services, which is a lowest hanging fruit. Oduwole highlighted that Nigerian youths would have the opportunity to earn foreign exchange while living in Nigeria by exporting their services such as digital trade, positioning Nigeria as a leading force in that regard. She acknowledged the significant work ahead but emphasized President Bola Tinubu’s commitment to enha
ncing the country’s trade, despite tough economic reforms.
Oduwole also called for collaboration among all agencies to address issues of miscommunication, operation in silos, overlapping duties among others. Amb. Nura Rimi, Permanent Secretary of the ministry, stated that the event was geared towards fostering inclusive engagement to advance Nigeria’s economic diversification agenda and expand its export capacity. He emphasized the importance of exports in driving economic growth, creating jobs, enhancing foreign exchange earnings, and positioning Nigeria in the competitive global marketplace.
According to Rimi, the ministry remains steadfast in its mandate to create enabling policies and frameworks that enhance export competitiveness. The engagement aims to fine-tune interventions, tackle critical points such as access, regulatory bottlenecks, infrastructural constraints, and ensure alignment with global best practices. Mrs Folashade Ambrose-Medebem, Commissioner, Commerce, Cooperatives, Trade and Investme
nt, Lagos, noted that the state’s economic strategy closely aligned with the Federal Government’s goal of diversifying the Nigerian economy.
Ambrose-Medebem mentioned that Lagos had introduced digital tools to enhance the efficiency and sustainability of cooperatives, enabling better record-keeping, transparency, and decision-making. By focusing on non-oil sectors such as agriculture, manufacturing, and technology, Lagos plays a leading role in reducing Nigeria’s dependence on crude oil exports. She highlighted the state’s ambitious export training programme earlier in the year, equipping over 2,000 exporters with the skills, knowledge, and resources to penetrate global markets.
The programme addressed challenges such as compliance with international trade regulations, export financing, and product quality standards. Building on its success, Lagos State is set to launch its export readiness programme in January 2025, focusing on capacity building, export readiness assessments, and facilitating market linkag
es for businesses looking to expand internationally.
Bashir Adeniyi, Comptroller General, Nigeria Customs Service, pledged to address regulatory overlaps at the ports and tackle documentation procedures that created problems for exporters. He emphasized the importance of unity to ensure the Federal Government’s vision to turn Nigeria into a major trade hub succeeds. Adeniyi assured that the customs service would not allow its processes and procedures to constitute an impediment to the success of exports, nor allow corruption to stand in the way of export development in Nigeria. He added that by 2025, most port operations would be automated to increase the country’s foreign exchange earnings and promote economic development, calling for transcontinental customs administration cooperation under the Africa Continental Free Trade Area (AfCFTA).