The Executive Director and Chief Executive Officer, Nigeria Export Promotion Council, Mr. Olusegun Awolowo, has said Nigeria will soon take a decision about stopping the export of raw materials.
According to him, the decision will increase the ability of Nigerian manufacturers to export processed goods to other West African countries and to dominate the West African market, which is especially important at the moment.
Awolowo said this while speaking at the NEPC’s one-day capacity building workshop themed, ‘Strategies for perpetrating West African market’ on Thursday.
He said the decision would be considered extremely important as Nigeria sought to improve market access and make inroad to the heart of economic growth and development in the West African market.
He said, “In the export Market, what we are looking into now is that we want to stop exporting raw materials because you don’t create a value chain with raw materials.
“But when we stop exporting raw materials, and start processing, producing, manufacturing here (in Nigeria) and we start taking it abroad, we would start a Nigeria brand based on qualities and we can dominate the ECOWAS countries.”
Awolowo gave the assurance that with the over $28bn worth of investment coming to Africa, Nigeria has what it takes to become a manufacturing hub and claim a place among the top global economies.
“With over $28bn worth of investment coming to Africa, Nigeria has the opportunity, with our large market and access to the West Africa region, to harness the greater percentage of those investments,” he said.
Also, the Director-General, Lagos Chambers of Commerce and Industry, Mr. Muda Yusuf, said the workshop was aimed at creating awareness for the Nigerian exporters on the need for products exported to be of high standards in order for Nigeria to achieve its potentials of becoming the biggest exporter in West Africa.
“The whole idea is to see how we can give an insight into what, industrially, the exporter can do to improve competitively in the export market,” he said.