Business Briefs
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THE federal government has expressed its preparedness to tackle impediments confronting the export sector of the nation’s economy. Senator Udoma Udo Udoma, minister of budget and national planning, who gave the assurance when members of the Organised Private Sector Exporters Association met with him in his office and enumerated some challenges confronting Nigerian exporters, said the present administration would address exporters’ plight.
A statement issued by Charles Dafe, director information in the ministry of budget and national planning, quoted Udoma as saying: “We understand all issues your association has raised, like difficulties in securing foreign exchange, decline in Nigerian export, inadequate export incentive and export grant. Government is working towards reviewing our economy and business environment, we will soon provide a clear and properly coordinated policies that will increase local production of goods, especially Nigerian exports goods. Importantly, your association as non-oil sector is an economic diversification vital pillar fully required by this administration and must be fully supported.”
Udoma also explained that the 2016 budget is structured to have 30 percent capital allocation for Nigerian infrastructural growth. Such are budgetary component aspects that will grow the nation’s economy and promote export.
Earlier, Jaiyeola Paul Olarenwaju, leader of the delegation, stated that the challenges facing his sector has led to drop in Nigerian manufacturing and export, a development that also increased unemployment. He also requested for their association be paid export expansion grant backlog.
— Mar 21, 2016 @ 01:00 GMT
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