Expert lists significant barriers to Nigerian-made goods’ exportation
“If the government can reduce the high interest rates, it will reduce the overall cost of locally made goods."
The Treasurer of the Oyo State Shippers Association, Mrs Aminat Animashaun, has identified the lack of access to adequate finance as the main barrier to exporting Nigerian-made goods.
Animashaun stated this in an interview with the News Agency of Nigeria (NAN) in Ibadan on Saturday.
According to her, high interest rates on loans have been crippling the exportation of made-in-Nigeria goods.
She called on the government to ensure entrepreneurs have access to loans at a single-digit interest rate to encourage more people to go into the production of exportable Nigerian-made goods.
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“If the government can reduce the high interest rates, it will reduce the overall cost of locally made goods.
“This will make Nigerian goods competitive in terms of pricing, such that imported goods will not be cheaper than locally made goods and the quality will be the same, if not more,” she said.
Animashaun, the Chief Executive Officer of De’rayo Vocational Limited, also pointed out poor infrastructure, such as unstable power supply and transportation as other challenges.
She called on the government to support the production sector with good infrastructure like a good road network.
She also called for reduced logistics fees and the cost of trade certification.
According to her, if the government would create trade houses in different countries, it would attract buyers to Made-in-Nigeria products.
“By addressing these challenges, the government can create a more conducive environment for exporters, enabling us to compete globally and contribute to Nigeria’s economic growth,” Animashaun said.
