Post by Trade facilitator on Oct 20, 2013 10:09:17 GMT 1
The Nigerian Export Promotion Council has urged the government and financial institutions to increase their support for the exportation of non-oil products.
Acting Executive Director, NEPC, Mr. Aliu Lawal, said this during a practical session/workshop organised for stakeholders in exporting by the council on ‘Access to finance for export.’
Lawal, who was represented by Mr. Faleke Olusegun, said access to fund was one of the major challenges confronting non-oil products’ exporters.
He said: “In Nigeria, access to finance remains a big challenge despite the efforts of the government in providing some interventions to some sectors.
“It is common knowledge that accessing financial facility from specialised and commercial banks by exporters had not been smooth, perhaps, because of lack of basic knowledge about alternative funding sources and the inability to provide bankable business plans.”
He said the export sector would develop faster if there was adequate financing, adding that exported products have increased between 2009 and 2012.
“Nigeria’s non-oil export has been growing very fast in the last five years for example; Nigeria’s export has grown with an increase of more than 50 per cent. Currently, Nigeria exports 117 products to about 103 countries.
“With the abundant resources at our disposal, Nigeria’s export could do better if the financial requirements are provided,” he added.
Acting Zonal Controller, NEPC, Lagos, Mrs. Obidike Evelyn, noted that the workshop was tailored to offer support to exporters by letting them know the available financial options and tools.
“One of the critical determinants of a successful export business is access to finance. This has hitherto become a major constraint that needs to be addressed," she said.
Source: www.dailytimes.com.ng/article/nepc-decries-under-funding-non-oil-exports
Acting Executive Director, NEPC, Mr. Aliu Lawal, said this during a practical session/workshop organised for stakeholders in exporting by the council on ‘Access to finance for export.’
Lawal, who was represented by Mr. Faleke Olusegun, said access to fund was one of the major challenges confronting non-oil products’ exporters.
He said: “In Nigeria, access to finance remains a big challenge despite the efforts of the government in providing some interventions to some sectors.
“It is common knowledge that accessing financial facility from specialised and commercial banks by exporters had not been smooth, perhaps, because of lack of basic knowledge about alternative funding sources and the inability to provide bankable business plans.”
He said the export sector would develop faster if there was adequate financing, adding that exported products have increased between 2009 and 2012.
“Nigeria’s non-oil export has been growing very fast in the last five years for example; Nigeria’s export has grown with an increase of more than 50 per cent. Currently, Nigeria exports 117 products to about 103 countries.
“With the abundant resources at our disposal, Nigeria’s export could do better if the financial requirements are provided,” he added.
Acting Zonal Controller, NEPC, Lagos, Mrs. Obidike Evelyn, noted that the workshop was tailored to offer support to exporters by letting them know the available financial options and tools.
“One of the critical determinants of a successful export business is access to finance. This has hitherto become a major constraint that needs to be addressed," she said.
Source: www.dailytimes.com.ng/article/nepc-decries-under-funding-non-oil-exports
