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FG to review export, import regulations

The Nigerian Export Promotion Council is to review Nigeria’s export regulations to drive the nation’s non-oil

The Executive Director of, NEPC, Mr. Olusegun Awolowo, made this known at a forum in lagos.

He said the move was to ensure export regulations in Nigeria are simple, clear, and more importantly not unreasonably costly to exporters.

Mr Awolowo pointed out that exporters would manage the regulations on two levels,  starting with export regulations in Nigeria, and ending with import regulations in target markets of its products.

He said almost all oil producing countries around the world had concluded the diversification of their exports, to build truly sustainable economies.

According to him,  at the COP21 Paris climate agreements in 2015, over 195 countries committed to reducing their consumption of fossil fuels.

Mr. Awolowo said The Zero Oil Plan identifies 22 sectors where Nigeria has both comparative and competitive advantage in world.

He added that efforts were ongoing by the administration to accelerate the pace at which many of Nigeria’s non-oil sectors can begin to contribute foreign exchange.

Also the Director General, Standards Organisation  of  Nigeria (SON), Osita Aboloma in a paper entitled “The Role of SON in facilitating non-oil export” said one major task of the present administration was to diversify the economy of the country which solely relied on the proceeds from crude oil sales.

He stressed that the urge to move away from hydro carbon resources became loud with the crashing in the prices of crude oil at the global market, free fall in the national currency as well as scarcity of foreign exchange.

The theme of the forum was Effective export chain management, and Compliance to regulations.

Victoria Chimezie.

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