Post by Trade facilitator on Feb 10, 2022 5:43:15 GMT 1
The Federal Government Approves An Agro-Export National Action Plan 7.0 To Improve The Ease Of Doing Business In Nigeria For Non-Oil Exporters
Timely Export Certification Processing: What The Vice President Osinbajo Said.
The problems caused by delayed export certification processing in Nigeria cannot be overemphasized. Exporters, especially non-oil exporters in Nigeria, timely certification processing had been a pain in their neck over the years.
This has led the Vice President, Professor Yemi Osinbajo, to lend presidential voice to the dilemma so as to correct the long standing anomaly.
The Vice President charged regulatory agencies to fast-track the Certification process for exports to drive competitiveness in the industry.
He gave the charge when he received a report of an Ad-Hoc Committee of the Presidential Enabling Business Environment Council (PEBEC) on Agro-Export and the presentation of a National Action Plan 7.0 at the Presidential Villa, Abuja recently.
In a statement released at the occasion, the Vice President stated: “There has to be a complete re-orientation on the exercise of regulatory authority in the country in order for businesses and investors to thrive in Nigeria.
“There is a problem of people who want to export, but cannot export due to what seems like too many regulations.
“There are too many regulatory requirements. Too many regulations kill output. We have to take a second look at how we regulate, over regulation is killing businesses. It kills investments. An agricultural exporter cannot export perishable products after months.”
The Vice President lamented that there are product processes of product Certification that take so long on the regulatory queues in Nigeria, while businesses from outside the country that are with swift regulatory regimes will then bring the same products into the country to sell.
“Because our Certification processes are slow, others from outside nations (neighboring countries based on ECOWAS agreement) with faster processes can bring in their products and sell here in Nigeria while our own businesses are still on the queues of regulatory agencies.” He added.
We can see what the Secretariat Officers themselves are saying.
Presenting the Ad-hoc Committee of the PEBEC on Agro-Exports, the PEBBEC Secretariat said that findings revealed among others that exportation flow as regards payments and verification is extremely cumbersome.
The report also noted that exporters complained about the “imposition of the NAFEX rate (NAFEX is the Nigerian Autonomous Foreign Exchange Rate Fixing Mechanism) on export proceeds. This limits their access to foreign exchange and their reliability to utilize their export proceeds.
A typical example of the anomaly is the instance where dollars domiciled in exporters’ accounts cannot be utilized for freight payment for export.
There were multiple physical cargo examination by pre-shipment inspection agencies, and there were also “multiple and sometimes overlapping documentation requirements from government regulatory agencies” the report revealed.
“The council, therefore, resolved to approve Agro-Export Action Plan that will remedy the situation, and also approved a 60-day National Action Plan 7.0 that continues the ease of doing business reform of the Federal Government.”
In the same vein, the Vice President said that he is impressed with the progress made so far across the country by Micro, Small, and Medium Enterprises (MSMEs) on the account of the interventions by the Buhari Administration. He also said that the Federal Government will intensify efforts to address any bottlenecks and challenges facing small businesses in Nigeria so that they can grow bigger.
The Vice President properly articulated problems faced by non-oil exporters in the country, especially agro-exporters whose goods can easily go bad when faced with excessive regulations at the ports in the country. Implementing laws that help in easing exports in the country will go a long way in helping revamp the nation’s economy and make life more livable for the people.
Our company is one of the best companies in Agro Export Business in Nigeria today, we train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
Timely Export Certification Processing: What The Vice President Osinbajo Said.
The problems caused by delayed export certification processing in Nigeria cannot be overemphasized. Exporters, especially non-oil exporters in Nigeria, timely certification processing had been a pain in their neck over the years.
This has led the Vice President, Professor Yemi Osinbajo, to lend presidential voice to the dilemma so as to correct the long standing anomaly.
The Vice President charged regulatory agencies to fast-track the Certification process for exports to drive competitiveness in the industry.
He gave the charge when he received a report of an Ad-Hoc Committee of the Presidential Enabling Business Environment Council (PEBEC) on Agro-Export and the presentation of a National Action Plan 7.0 at the Presidential Villa, Abuja recently.
In a statement released at the occasion, the Vice President stated: “There has to be a complete re-orientation on the exercise of regulatory authority in the country in order for businesses and investors to thrive in Nigeria.
“There is a problem of people who want to export, but cannot export due to what seems like too many regulations.
“There are too many regulatory requirements. Too many regulations kill output. We have to take a second look at how we regulate, over regulation is killing businesses. It kills investments. An agricultural exporter cannot export perishable products after months.”
The Vice President lamented that there are product processes of product Certification that take so long on the regulatory queues in Nigeria, while businesses from outside the country that are with swift regulatory regimes will then bring the same products into the country to sell.
“Because our Certification processes are slow, others from outside nations (neighboring countries based on ECOWAS agreement) with faster processes can bring in their products and sell here in Nigeria while our own businesses are still on the queues of regulatory agencies.” He added.
We can see what the Secretariat Officers themselves are saying.
Presenting the Ad-hoc Committee of the PEBEC on Agro-Exports, the PEBBEC Secretariat said that findings revealed among others that exportation flow as regards payments and verification is extremely cumbersome.
The report also noted that exporters complained about the “imposition of the NAFEX rate (NAFEX is the Nigerian Autonomous Foreign Exchange Rate Fixing Mechanism) on export proceeds. This limits their access to foreign exchange and their reliability to utilize their export proceeds.
A typical example of the anomaly is the instance where dollars domiciled in exporters’ accounts cannot be utilized for freight payment for export.
There were multiple physical cargo examination by pre-shipment inspection agencies, and there were also “multiple and sometimes overlapping documentation requirements from government regulatory agencies” the report revealed.
“The council, therefore, resolved to approve Agro-Export Action Plan that will remedy the situation, and also approved a 60-day National Action Plan 7.0 that continues the ease of doing business reform of the Federal Government.”
In the same vein, the Vice President said that he is impressed with the progress made so far across the country by Micro, Small, and Medium Enterprises (MSMEs) on the account of the interventions by the Buhari Administration. He also said that the Federal Government will intensify efforts to address any bottlenecks and challenges facing small businesses in Nigeria so that they can grow bigger.
The Vice President properly articulated problems faced by non-oil exporters in the country, especially agro-exporters whose goods can easily go bad when faced with excessive regulations at the ports in the country. Implementing laws that help in easing exports in the country will go a long way in helping revamp the nation’s economy and make life more livable for the people.
Our company is one of the best companies in Agro Export Business in Nigeria today, we train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
