The states in the South-South region of the country have been urged to implement the Commerce 160 Initiative Strategic Framework aimed at driving non-oil export development to boost the economy.
The commerce 160 initiative, which represents a bold step towards economic diversification, employment generation and wealth creation, is aimed at facilitating non-oil export development by addressing critical challenges that have hindered competitiveness in the past.
A brainchild the Federal Ministry of Industry, Trade and Investment, the initiative is expected to develop and promote 40 agricultural commodities, 40 solid minerals and 40 manufactured products with high export potential to 40 identified export destinations.
At a one-day stakeholders’ policy dialogue on the domestication and implementation of Commerce 160 Initiative Strategic Framework in Uyo, Akwa Ibom State, which was attended by commissioners of Agriculture, Commerce and Industry from the six states of south south zone, the states were told to identify priority commodities and products, value chain constraints and strategic interventions to accelerate exports.’
In an address, Charles Nwachinemere Felix, assistant director, in charge of commodities, Federal Ministry of Industry, Trade and Investment, said, “The policy dialogue was timely as it provides us with the opportunity to align on strategies that will accelerate the growth of Nigeria’s export sector and ensure its sustained contribution to our economy.
“We will focus on the actionable steps required for the successful adoption of the initiative at both state and local levels as well as the establishment of robust implementation structures in each state.’’
He lauded efforts of the relevant government agencies at creating enabling environment that fosters domestic investment and attracts foreign direct investment by facilitating trade in goods and services, supporting MSMEs and driving industry growth.
He added that the ministry would continue to play a pivotal role in positioning the country as a competitive player in regional, continental and global markets.
In his remarks, Commissioner for Commerce and Industry, Akwa Ibom State, who was represented by Essien Ibanga, director of industry, said that the state government has given priority to agriculture in its economic blueprint, adding that an agreement would soon be signed by the state government with a foreign firm for the running of a tomato factory in the state.
He said that the state government has constructed a state-of-the-art coconut refinery in Mkpat Enin Local Government Area to boost export.
According to him, if the Commerce 160 Initiative Strategic Framework is successfully implemented, Nigeria would be an export hub in the region.
In his remarks, Howard Usen, coordinator of Nigeria Agribusiness and Agro Industry Development Initiative (NAADI) lauded the federal government for the steps taken to boost non oil exports, adding that the agric sector has continued to remain the mainstay of the economy, creating thousands of jobs yearly.
He identified proper certification, packaging and good knowledge of the export requirement as capable of accelerating the growth of the industrial sector and the development of MSMEs in the country.
