Export Business in Nigeria needs broad based support

Dr Bamidele Aiyemibo, Consultant and Financial Expert has been speaking on the challenges facing those involve in the Export Business in Nigeria describing it as multi pronged.

Dr Aiyemibo who was speaking to TVC News’s Tolulope Ogunjobi on Business Nigeria said the survey showed a lot of interesting results especially in their access to financing.

He said the survey also showed that Small and Medium Scale Enterprises need to be supported as a vital tool in growing exports from Nigeria.

He added that the results also tallied with the views expressed by the governor of the Central Bank of Nigeria, Mr Godwin Emefiele, at the Bankers Committee meeting recently on the need to support Small and Medium Scale Enterprises in growing capacity and access to financing and Other added services.

He disclosed that Banks must get creative through the provision of Other support services not just financing but providing trade information, getting market Services.

He said the exporters also asked for Services to fix their major challenges around the export process like Port Logistics, Financing and delay in relating with Government agencies.

He said this can be addressed by having export terminals outside of the current recognised Port facilities and complexes across the Country.

On whether Nigerian Exporters are ready to actually compete in the Export market, he disclosed that Nigerian exporters are not ready based on information that he has available.

He said an instance that comes to mind for him is the 2020 survey conducted of 120 Business entities in Nigeria who were involved in the export Business with only 4% of them found ready to participate in the Export Business.

He added that this is one of the major reasons behind the failure of the Ecowas trade Liberalisation scheme has failed till today.

He added that even after 30 Years some Businesses in Nigeria do not even know that the ETLS does not exist.