FG to Reinvigorate Commodities Boards, Remove Bottlenecks to Boost Non-oil Sector 

Oluchi Chibuzor

The Minister of Trade and Investment,  Dr. Jumoke Oduwole, has said that the federal government will reinvigorate commodities boards in the country, while removing bureaucratic bottlenecks hindering non-oil export contribution to the nation’s gross domestic product (GDP).

She stated this in Lagos at a Ministerial Export Consultation event yesterday, while hosting exporters and other key government agencies under her purview.

According to her, “But the President is committed to this. We are also going to re-establish and reinvigorate our commodities exchange. There is a lot that we have geared up for Nigeria. Suffice to say that it will take everybody’s commitment. You have seen that the GDP is moving in the right direction. Please encourage the Nigerian economy. The reforms may have been tough, but we are already turning the corner. So let’s all continue together to make this economy work.”

She promised to work towards resolving all issues and challenges raised by the exporters, noting that President Bola Tinubu has given her the marching order to deliver.

“So for collaboration amongst the agencies, you heard a number of the exporters allude to the fact that I’ve been working on the trade reforms for nearly a decade now. The challenges, the silos, the miscommunication, the overlapping. We’re determined to make sure that the regulatory and bureaucratic challenges, which are well known to us coming from a public background, are systematically addressed,” she said.

Speaking, Permanent Secretary, FMITI, Nura Abba Rimi, said the stakeholders’ consultation engagement is tailored towards strengthening Nigeria’s export sector. 

According to him, “The Ministry remains steadfast in its mandate to create enabling policies and frameworks that enhance export competitiveness. Through the feedback and insights from this engagement, we aim to fine-tune interventions, tackle critical points such as market access, regulatory bottlenecks, infrastructural constraints and ensure alignment with global best practices.”

Commenting, the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, said the event provides an opportunity for, “us to consolidate on the little progress that has been achieved in the economy.”

He however, assured Nigerians that the service under his watch will never support corruption or impede trade . 

“Never are we going to allow our processes and procedures to constitute an impediment to the development of exports. Never are we going to allow corruption and corrupt practices to stand in the way of exports development in Nigeria,” he affirmed.