The Association of Corporate Affairs Managers of Banks (ACAMB) has called for an expansion of Nigeria’s trade collaboration and the establishment of industrial hubs across the country to boost exports.
The President of ACAMB, Rasheed Bolarinwa, stated this in an interview with the News Agency of Nigeria on Monday in Lagos.
Bolarinwa emphasised the need for Nigeria to adopt a more efficient approach to export procedures.
The call comes in the light of the recent United States of America traffic hikes on Nigerian exports.
Bolarinwa suggested that Nigeria should explore markets beyond the US and create an enabling environment for exporters through incentives.
He also urged the Federal Government to develop industrial parks and clusters across all six geopolitical zones, ensuring affordable infrastructure like electricity and transportation.
He called for the establishment of economic zones where production and export processes would be streamlined, reducing bureaucratic delays and allowing for faster movement of goods.
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This, he explained, would prevent goods from deteriorating before reaching their destination.
Bolarinwa also urged regulatory agencies at the country’s ports to harmonise operations in order to eliminate bottlenecks that caused losses to exporters, particularly delays that affected the quality of Nigerian products and led to rejections in international markets.
Highlighting the challenges of high production costs and inadequate infrastructure, he pointed out that some African countries were able to export goods the same day they were produced, which Nigeria should aim to replicate.
He also stressed the importance of diversifying the economy, encouraging banks to support viable businesses, and urging exporters to gain knowledge of international markets and add value to local produce to maximise foreign exchange earnings.
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