How Covid-19 pandemic dipped  Nigeria’s export earnings — NACCIMA

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) said Nigerian exports market lost substantial revenues to the ravaging  Covid-19 pandemic.

The Chamber added that the sector was also exposed to informal exports with attendant effect and loss of revenue.

Barrister Kola Awe, Chairman, NACCIMA Export Group, made this disclosure at a recent forum organised by the Nigerian Shippers’ Council (NSC) in Lagos.

Speaking on the topic: Measures to Boost Export Trade in Nigeria During and Post Covid-19, he outlined some of the negative effects of the pandemic on the export trade in Nigeria.

He added that the Nigerian export market was exposed to inexperienced freight forwarders and fake documents.

He maintained that marketing exporters experienced complete shutdown in production and export except those in food and pharmaceutical sectors.

Awe added that the pandemic led to loss of confidence, decline in quality of products, loss of funds and foreign exchange saying over N1 billion was lost in raw cashew nuts.

Seeking solution to the negativity of the pandemic on export, he called on the Nigerian Export/Import Bank (NEXIM) to initiate a financial guarantee product that will protect exporters contract cancellation.

He said, “Intervention in the reduction of the cost of barges, this will create an alternative to the delay due to bad roads. Barge operators can be registered to terminals.

“Advise shipping lines to triangulate containers and eliminate the cost of triangulation especially in the South Eastern Ports.

“All government agencies and private sector companies should adopt and improve on their information technology and adopt electronic and paperless operations that will reduce physical contacts,” he said.

According to him, encouraging and promoting the use of alternative ports in the country by removing dis-incentive and providing more incentives to shipping lines and exporters that will encourage shipping activities,would serve as post Covid-19 measure to boost export.

He called for the single window platform for export to immediately commence,  saying it would make for seamless, paperless and harmonisation of export process and documentation