By improving trade facilitation, the Nigerian Customs Service has reaffirmed its commitment to the expansion of non-oil exports from the nation.

At the 7th Annual General Meeting of the Manufacturers Association of Nigeria Export Promotion Group, which took place on Wednesday in Lagos, the NCS declared that it will keep helping manufacturers in the non-oil export industry through initiatives and reforms.

Ajibola Odusanya, the comptroller of the NCS Lilypond Export Command, highlighted the contribution of non-oil exports to Nigeria’s economic diversification, particularly through the recently formed Lilypond Export Command.

According to Odusanya, the Lilypond Export Command has played a significant role in promoting trade, especially in handling export items worth more than $600 million that aren’t related to oil.

He said. The expansion of export trade is crucial for promoting investment, manufacturing, and the creation of jobs in the modern global economy.

“To cut down on red tape and provide exporters with faster processing times, the Nigeria Customs Service has streamlined its export procedures. For example, in just one year, the Lilypond Command processed over 300 containers of manufactured items worth over $200 million.

The head of Lilypond Export Command stated that customs has started implementing certain reforms, such as the Authorised Economic Operator program, which expedites export operations for conforming producers, and the Time Release Study, which gauges the effectiveness of customs clearance procedures.

He claimed that “certified manufacturers now enjoy simplified customs clearance and fewer physical inspections, making their exports more competitive.”

Odiri Erewa-Meggison, the chairman of MANEG, thanked the federal government for the recent reforms but called for more funding to ease the financial strain that growing production costs are placing on exporters.

Erewa-Meggison praised the Federal Government’s request for the submission of baseline data for the Export Expansion Grant, saying it is a positive move in encouraging exporters.

She did point out, nevertheless, that the difficulties faced by exporters had been made worse by the elimination of fuel subsidies and the hike in energy tariffs.

“The depreciation of the naira, high production costs, and limited forex supply are causing hardship for our members.” It is challenging to compete in the global economy because of these limitations, the speaker said.

Additionally, the head of MANEG made a plea to the Federal Government to reevaluate the decision to remove 34 exporters from the Promissory Notes program.

Restoring these exporters will bring much-needed respite and rebuild their trust in government handouts, the speaker continued.

Through the association’s Director General, Segun Ajayi-Kadir, the President of MAN, Francis Meshioye, reaffirmed the significance of non-oil exports in attaining a positive trade balance for Nigeria.

Meshioye pointed out that although there were a number of government incentives available, their application had been uneven.

Only a few of the export incentives that the federal government has proposed are being completely implemented.

Meshioye added, “In addition, unproductive policies from other agencies frequently impede the growth of the export sector.”

In order to address the issues with the exchange rate and growing manufacturing costs, he also demanded that the government’s stabilisation plan be put into action as soon as possible.

The president of MAN stated, “Manufacturers must execute these policies diligently and quickly in order to maintain their competitiveness and spur export growth.”

The guest lecture by Prof. Segun Ajibola, a former president of the Chartered Institute of Bankers of Nigeria, was a highlight of the occasion. She stressed the urgent need to encourage non-oil exports by providing businesses with strategic incentives.

Ajibola suggested that Nigeria’s industry and trade policy be completely redesigned.

“It is long overdue,” he said, “to implement new trade policies that promote local manufacturers and limit the importation of goods like toothpicks, biscuits, and textiles.”

Nigeria’s excessive reliance on imported goods, even for necessities, hinders the development of home businesses and makes it challenging for the nation to attain a positive trade balance, claims Ajibola.

“The government must consider granting waivers on imported raw materials used by local manufacturers to boost capacity utilisation and reduce production costs,” he said in support of his recommendation to remove taxes on vital raw materials.