‘Set up trading company to stimulate non-oil export’

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The National Committee on Export Promotion has called for the establishment of an export trading company in order to expand the volume of export transactions for the country.

It said the proposed firm, which will be a limited liability company, should be set up by the Federal Government with funding from the Ministry of Finance, Central Bank of Nigeria and the Nigerian Sovereign Investment Authority.

The call for the establishment of the company is one of the recommendations of the NCEP, which is chaired by the Governor of Jigawa State, Alhaji Mohammed Abubakar.

Members of the committee are the ministers of Finance; Agriculture and Rural Development; Power, Works and Housing; Mines and Steel Development; and Governor of the Central Bank of Nigeria, among others.

Speaking to journalists on Thursday shortly after the committee’s meeting in Abuja, Abubakar said key issues affecting the improvement of non-oil export were being addressed by the committee.

He said that the committee decided to call for the meeting so as to listen to exporters, adding that this would help address some of the challenges being faced by them.

The governor said the meeting would enable the committee to provide better recommendations to the government on how some of these impediments could be addressed.

He stated, “We have a profile of all the exporters and we want to see how we can encourage them to export more based on our low hanging fruits before we now go into discovering more exports in the future.”

Source: Punch

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