Why Nigerian exporters are losing revenue — Ex NATO boss

By tataafo.com – 13th May, 2020

Orakwusi who made this known in Lagos at a meeting between the Nigerian Shippers Council, NSC, and the Organised Private Sector, OPS, noted that at a time when the Federal Government was focusing on export for revenue following the crash in the price of crude oil, all hindrances to trade facilitation should be removed.

She also stressed the need for government to ensure that its agencies do away with paper documentation and embrace electronic transaction as it is done globally.

She said it was only the removal of these hindrances that could guaranty the needed revenue from the sector to the government, pointing out that international trade was competitive and only countries that were ready with smooth port operating systems could benefit from the advantages.

Orakwusi who is also a ship-owner, explained that export processes are international with agreements signed. She noted that failure to meet up with previous agreements between exporters and buyers of a product result in the cancellation of such contracts; thereby denying the exporters the expected foreign exchange to be earned from such transactions.

She stated: “We must work at making port operations efficient so that people do not lose their revenue when they sign contract with buyers. When you delay in delivering the product, there are consequences; it is not like Nigeria where you will go and beg. The drive for revenue affects port operations as well as delay cargoes at the port.

“International trade is competitive and our documentation processes are paper oriented which should be reviewed. If we really want to compete in export of our goods, our processes must be simplified, made easier and faster.”

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