‘FCT Will Key into Efforts in Promoting Export’

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The Minister of the Federal Capital Territory (FCT), Mr. Muhammad Musa Bello, has assured the Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo of his support towards the realisation of all export promotion businesses and the hosting of the forthcoming technical meeting of the national committee.

This was disclosed in a statement by the NEPC yesterday.

The minister urged Awolowo to use the FCT as implementation centre for all the committees’ suggestions, alluding to the fact that the courtesy call was a homecoming to the NEPC boss who had served three former ministers in different positions before his latest appointment.

Awolowo briefed him that the committee on export promotion was established by the National Economic Council to implement the Zero oil campaign, a document envisioned in the Economic Recovery and Growth Plan as part of the economic diversification agenda of the federal government.

He reiterated the expediency of diversifying the sources of the country’s foreign reserve to insulate the economy from incessant economic shocks arising from the volatility of crude oil prices and other global geo-political and socio-political dynamics which is premised on the potential of every state including the FCT in realising an export-led economic revolution to earn foreign exchange and generate employment for teeming youth and the womenfolk.

The NEPC boss added that the technical committee meeting would enable all state governments and the FCT present their export programmes and activities and match them with institutional export facilitation agencies intervention.

Although the FCT chose Shea butter and handicraft as an alternate product with competitive and comparative advantage to promote for export in line with the ‘One state one product’ initiative, the minister urged the NEPC to expand its scope to accommodate more value chains rather than just end products and to show interest in price stability among others.

Bello also advised that the NEPC should link up with relevant agencies in negotiating mechanism of pricing towards stamping and shaping pricing challenges.

He said: “We welcome you to the FCTA and it’s a fact that this is an homecoming for you because of the in-depth knowledge you have about us having served three past ministers of the FCT. “The progress you v made is there for all to see even though many saw you as a prophet of doom when you predicted the need for a zero reliance on oil as an alternative to oil which is becoming a reality.

“Nobody could have thought 50 years ago that industrialised countries like the United State, Germany and Russia would shut down due to unavailability of coal but here they are. Same is applicable to the future of oil and petrochemicals. We assure you of our support and we urge that you widen the scope of your operations too.”