To address the barriers to non-oil exports, the Bankers Committee decided to establish a working group headed by the Nigeria Customs Service (NCS), the Nigeria Port Authority (NPA), and the Central Bank of Nigeria (CBN).

Yesterday’s inaugural Bankers Committee biennial non-oil summit in Lagos featured this as one of its attractions.

The working group’s responsibilities include addressing the non-oil export value chain’s logistical and documentation issues.

The CBN Governor, Mr. Godwin Emefiele, made appeals to the NPA, Customs, and other export value chain stakeholder groups to help the apex bank achieve its Race-to-$200 billion (RT200) non-oil earnings program, which led to the decision to form the workgroup.

Emefiele asserts that cooperation and support from all government departments and stakeholders are necessary to reach the $200 billion in non-oil export revenue.

“I’m hoping this will be a problem-solving meeting,” he stated. A summit that ensures that one or more agencies or practitioners will be able to explain choices for resolving any complaint, issue, problem, challenge, or difficulty that is presented or identified.

“I firmly believe that the ideas generated by this inaugural summit will be crucial in assisting us in achieving our medium-term objective of $200 billion in non-oil exports.”

“I want to appeal to the MD of the Nigerian Ports Authority and the Nigerian Customs that we establish a working group comprising the Bankers Committee, NPA, the Nigerian Customs, and maybe a shipping line to resolve two issues,” Emefiele said when discussing the expectations for the working group.

People who wish to export their items have reportedly had to wait weeks or months before their goods can be shipped.

“We desperately need those export earnings. It is regrettable that Nigerian exporters prefer to ship their goods from Lagos to Accra or the Republic of Benin via road or occasionally barges due to the difficulty in locating a simpler export route. By doing them, we forfeit the chance to profit from exports. We want you to consider both the long and short term, Customs and NPA in the working group.