Economy

FG Promisess To Address Problems Of Nigerian Exporters

March 9, 2016

The Federal government has assured Nigerian exporters that it will address impediments affecting their export sector.

The assurance was given by the Minister of Budget and National Planning, Udoma Udo Udoma when members of the Organised Private Sector Exporters Association held a meeting with him at his office and enumerated some unfortunate challenges confronting the Nigerian exporters

In giving assurance that the present administration will address their plights, Udoma said “we understand all issues your association has raised, like difficulties in securing foreign exchange, decline in Nigerian export, inadequate export incentive and export grant. Government is working towards reviewing our economy and business environment, we will soon provide a clear and properly coordinated policies that will increase local production of goods, especially Nigerian exports goods. Importantly, your association as non-oil sector is an economic diversification vital pillar fully required by this administration and must be fully supported”.

Senator Udoma also explained that the 2016 budget is structured to have 30% capital allocation for Nigerian infrastructural growth such are budgetary component aspects that will grow the nation’s economy and promote export.

Speaking earlier, the Executive Secretary and leader of the delegation, Jaiyeola Paul Olarenwaju, stated that the challenges facing his sector has led to drop in Nigerian manufacturing and export, a development that also increased unemployment.

He also requested for their association be paid export expansion grant backlog and the Central Bank (CBN) should reverse their stiff policy on forex to manufacturers.

Charles Dafe

Director (Information)