The lack of improvement and deterioration in Nigeria’s export trade performance rankings such as measures of time and cost associated with exporting and importing a standardized cargo of goods reinforces the need for Nigeria to undertake urgent and extensive reform to improve its trading across borders performance. This research provides immediate, medium and long term reform options.
REFORM OPTIONS FOR REDUCING THE TIME, COST, AND NUMBER OF PROCEDURES FOR TRADING ACROSS BORDERS IN NIGERIA
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This report documents the strategic plan for the implementation of the Africa Continental Free Trade Agreement (AfCFTA) by Nigeria following a diagnostic review of the prevailing trade ecosystem including the participants (traders and service providers), the regulating agencies, prevailing policies, and processes as well as the level of regional integration.
Businesses that operate in a particular domain are expected to adhere to some rules and regulations. Here is a training material that covers some of these requirements. This does not take the place of legal advice.
Export Expansion Grant (EEG) was established under the Export Incentives and Miscellaneous Decrees of 1986 and amended into an Act in 1992 to accomplish the diversification agenda of the Federal Government of Nigeria (FGN). Other export support funds created under the same Act are the Export Development Fund (EDF) and Export Adjustment Scheme Fund (EASF). The funds have been repositioned in the Economic Recovery and Growth Plan (ERGP) of 2017-2020. The EEG is a post-shipment incentive scheme aimed to achieve three key objectives: (i) to enable exporters to expand their businesses more conveniently, (ii) make Nigeria’s non-oil export more competitive, and (iii) facilitate greater and faster foreign market penetration.
PDF II (now PDF Bridge)’s Trade Policy Workstream funded a study on “Analysis and Impact of the Export Expansion Grant on Export Potential, Market Access and Export Competitiveness in Nigeria”. This policy roundtable discussed the findings and recommendations from this study.
With the global COVID-19 pandemic came the need for local manufacturers to step up to the challenge and produce face masks, face shields, and PPEs due to dwindling supplies caused by high demand the world over. The support provided by government agencies to these entrepreneurs was critical, this in turn was derived from the technical advice supplied by the PDF Bridge programme under the Trade Policy Workstream through dialogues, studies, and roundtable events. The workstream focuses on non-oil exports by bringing underrepresented voices into economic policy and strengthening the participation of exporter groups in trade. The workstream engaged with representatives of Abia State Government during its dialogues particularly with the Director-General of the Abia State Marketing and Quality Management Agency (ASMQMA). This engagement led to increased capacity and redirection of strategy for the Aba Textile cluster in the production and distribution of finished goods. With help from the State Government’s agency on quality and standardization, Abia State Marketing and Quality Management Agency (ASMQMA), tailors generated an estimated $4-5million for the Nigerian economy from Abia State alone from the production of PPEs. This created a 110% increase in tailoring personnel.
Micro Small and Medium-Scale Enterprises (MSMEs) are integral to the stimulation of developing economies as exploiting the full capabilities of MSMEs will improve trade competitiveness aimed towards achieving the objectives of the Africa Continental Free Trade Area (AfCFTA). PDF Bridge Programme recognises the role that MSMEs can play in the implementation of the AfCFTA; and is supporting the National Action Committee of the AfCFTA Secretariat by funding this study.
