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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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.
Trade Associations play a role in promoting appropriate policies, regulations, and necessary reforms relating to their sector of operations. They create opportunities for networking and consultations among industry players as well as being a voice when it comes to new regulations and legislations while encouraging best practices among its members. According to Peter Gomersall[1], trade associations exist to support their members and further their interests, to defend them when they are under threats and to promote a common position on issues affecting the environment in which they operate.
Given the foregoing, the PDF Bridge Trade Policy Workstream organised a two-day capacity-building session targeted at strengthening the leadership of non-oil export-related trade associations and improve on their business strategy to position them to take advantage of the opportunities in the non-oil export value chain. The sessions had in attendance delegates from government agencies such as FMITI, NAQS, FMARD, NOTN, CBN as well as executives of trade group drawn from various industries including agricultural commodities farmers, agricultural commodities exchange and aggregators, industrialists, agro-processors, women, and youth development groups, textile and apparel among other participants.
[1] https://www.iiste.org/Journals/index.php/JEDS/article/download/7852/8030
Against a backdrop of falling oil prices, the Nigerian government has woken up to its economic vulnerability to oil-related disruptions. This underscores the need for diversification to non-oil exports. PDF Bridge supported the drive towards growing non-oil export by supporting under-represented non-oil exporters through three strands of work: strengthening Nigeria’s ability to trade beyond its borders through the Network of Practicing Non-Oil Exporters of Nigeria (NPNEN), an export mentorship programme, which links experienced exporters with new and growing export businesses; and training sessions for micro, small and medium-sized enterprises (MSMEs) intending to export non-oil goods were held on; Market Entry Strategies, Understanding export documentation, Raising Finance for Export, Branding, and packaging for export. In addition, Roundtables were held on;
- Addressing Barriers to Access to Foreign Markets – An analysis of Spices & Herbs, Textiles & Garments, and Leather Products;
- Analysis and Impact of Export Expansion Grant on Export Potential, Market Access and Export Competitiveness in Nigeria;
- Improving Market Access through Digital Trade and;
- Analysis of Potentials of Nigeria’s Services Sector for Economic Diversification, Employment and Foreign Trade;
- Diversification and Non-oil Export Opportunities for Nigeria States Post-COVID19 Study
The Policy Development Facility Bridge program (PDF Bridge) held a Trade Policy Roundtable to discuss the findings and recommendations from its recent study titled “Diversification and Non-oil Export Opportunities for Nigerian States Post-Covid19”.
The objectives of the policy roundtable were;
- To provide a forum for relevant stakeholders to learn about and discuss the findings from the Export Diversification study;
- Through discussions, generate recommendations on necessary actionable steps towards reforms, process restructuring, elimination of various challenges identified in the study, and implementation of the study recommendations.
Trade Associations play a role in promoting appropriate policies, regulations, and necessary reforms relating to their sector of operations. They create opportunities for networking and consultations among industry players as well as being a voice when it comes to new regulations and legislations while encouraging best practices among its members. According to Peter Gomersall[1], trade associations exist to support their members and further their interests, to defend them when they are under threats and to promote a common position on issues affecting the environment in which they operate.
Given the foregoing, the PDF Bridge Trade Policy Workstream organised a two-day capacity-building session targeted at strengthening the leadership of non-oil export-related trade associations and improve on their business strategy to position them to take advantage of the opportunities in the non-oil export value chain. The sessions had in attendance delegates from government agencies such as FMITI, NAQS, FMARD, NOTN, CBN as well as executives of trade group drawn from various industries including agricultural commodities farmers, agricultural commodities exchange and aggregators, industrialists, agro-processors, women, and youth development groups, textile and apparel among other participants.
[1] https://www.iiste.org/Journals/index.php/JEDS/article/download/7852/8030
