AfriqueCAN
NIGERIA may be able to boost its non-oil exports from 15 percent to 80 percent with the right business environment, in line with the African Continental Free Trade Area, AfCFTA. A non-oil exporter has said.
Ahmed Rabiu made this claim at an event in Abuja on Tuesday.
Rabiu said during the event organised to announce a market survey, which highlighted the major challenges and potential solutions for non-oil exports in Nigeria, that the government has implemented several policies in the past to promote non-oil exports; however, significant barriers still persist.
According to him, the country could generate trillions of dollars in revenue through non-oil exports – with effective policy implementation.
“We are hopeful that in the next couple of months there will be improvement in the ease of doing business, particularly in exportation.
“Our exporters today are exporting less than 15 percent of what they should be.
“And once the operating environment is improved, they could reach 80 percent, 90 percent, and even create new avenues.
“So in terms of figures, we are talking about even trillions of dollars because we have export materials from the non-oil sector, including agricultural produce, both processed and semi-processed, solid minerals, and services. There is quite a lot coming in, so we are talking about more than a trillion dollars,” said Rabiu, who is also the president of the Network of Practicing Non-Oil Exporters of Nigeria.
