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 stated this at an export stakeholders consultation engagement on Tuesday in Lagos.

She said that the ministry was committed to re-establishing and reinvigorating commodity exchange, particularly as Nigeria journeyed towards an export-driven economy.

According to her, all agencies under the ministry of industry, trade and investment would be supported to drive exports, particularly of services, which is the lowest hanging fruit.

Ms Oduwole also called for collaboration among all agencies to address issues of miscommunication, operation in silos, and overlapping duties, among others.

Nura Rimi, the ministry’s permanent secretary, said the event was geared towards fostering inclusive engagement to advance Nigeria’s economic diversification agenda and expand its export capacity.

Mr Rimi said that the ministry was committed to deliberating on the challenges and opportunities that shaped the country’s export landscape. He said that as a nation, the importance of exports in driving economic growth, creating jobs, enhancing foreign exchange earnings, and positioning Nigeria in the competitive global marketplace was recognised.

According to him, the ministry remains steadfast in its mandate to create enabling policies and frameworks that enhance export competitiveness.

Folashade Ambrose-Medebem, Lagos’ commissioner of Commerce, Cooperatives, Trade and Investment, said the state’s economic strategy closely aligned with the Federal Government’s goal of diversifying the Nigerian economy.

She said that in alignment with global trends, Lagos had introduced digital tools to enhance the efficiency and sustainability of cooperatives. She said that the tools enabled better record-keeping, transparency, and decision-making, ensuring that cooperatives remained competitive in a rapidly changing economic environment.

MsAmbrose-Medebem said Lagos, by focusing on non-oil sectors such as agriculture, manufacturing and technology, was playing a leading role in reducing Nigeria’s dependence on crude oil exports.

The commissioner revealed that the state embarked on an ambitious export training programme earlier in the year, equipping over 2,000 exporters with the skills, knowledge, and resources to penetrate global markets.

She said the programme addressed challenges such as compliance with international trade regulations, export financing, and product quality standards.

She added that building on the training programme’s success, Lagos State was set to launch its export readiness programme in January 2025.

Ms Ambrose-Medebem said the initiative would focus on capacity building, export readiness assessments, and facilitating market linkages for businesses looking to expand internationally.

Also, Bashir Adeniyi, comptroller general of the Nigeria Customs Service, pledged to address regulatory overlaps at the ports and tackle documentation procedures that created problems for exporters.

Mr Adeniyi said that the export potential called for unity to ensure that the federal government’s vision to turn the country into a huge trade hub succeeded.

He said that the customs service would never allow its processes and procedures to impede exports’ success. He added that the service would not allow corruption and corrupt practices to stand in the way of export development in Nigeria.

(NAN)