Nigerian govt moves to remove export bottlenecks, boost FX inflows

The Nigerian government has announced plans to remove export bottlenecks and boost foreign exchange inflows into the Nigerian economy.

The Managing Director of the Nigerian Ports Authority, NPA, Abubakar Dantsoho, made this disclosure at an event in Abuja at the weekend.

He noted that Nigeria’s trade resilience required efficient infrastructure, predictable fiscal frameworks and seamless supply chains.

According to him, Nigeria’s economic resilience could no longer depend largely on imports and oil revenues.

Dantsoho explained that the recent approval by the Federal Government for the transfer of Inland Dry Port (IDP) management and development functions to the NPA would bring port efficiency closer to businesses operating far from coastal ports.

“By bringing Inland Dry Ports under the operational purview of the NPA, exporters in northern and central Nigeria, including right here in Abuja, no longer need to move raw commodities to coastal ports before undergoing port clearance and documentation.

“To our prospective businessmen and entrepreneurs, now is the time to embrace export trade,” he said.

Also speaking, the Director of the Abuja Chamber of Commerce and Industry (ACCI), Agabaidu Jideani, called for stronger collaboration among government agencies and the private sector to facilitate trade, unlock investment opportunities and strengthen the link between Nigeria’s maritime sector and the wider business community.

“The efficiency, accessibility and competitiveness of Nigeria’s ports have direct implications for importers, exporters, manufacturers, distributors, logistics operators, retailers and numerous other businesses across our sectoral groups,” he said.

Nigerian govt moves to remove export bottlenecks, boost FX inflows